Forex Broker Comparison: XM vs Exness vs IC Markets (2025 Edition)
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Choosing the right forex broker is a critical step in your trading journey. With so many
options available, traders often narrow their choices down to industry leaders. In this
guide, we’ll compare three of the most popular and trusted forex brokers in the world:
XM, Exness, and IC Markets.
Each of these brokers is known for regulatory strength, competitive spreads, and
trader-focused features, but they differ in important ways. Let’s dive into a detailed
head-to-head comparison.

Regulation & Trustworthiness

XM

  • Regulated by: ASIC (Australia), CySEC (Cyprus), FSC (Belize)
  • Known for strong global presence and reputation
  • Offers protection like negative balance protection

Exness

  • Regulated by: CySEC (EU), FSCA (South Africa), FSA (Seychelles)
  • Extremely popular in Asia, Africa, and the Middle East
  • Offers real-time fund withdrawal and high transparency

IC Markets

  • Regulated by: ASIC (Australia), CySEC (Cyprus), FSA (Seychelles)
  • Considered one of the most reliable ECN brokers globally
  • Known for ultra-fast execution and high trading volume

Verdict: All three brokers are well-regulated. IC Markets and Exness stand out for global trust and raw ECN infrastructure, while XM is very beginner-friendly with strong support.

Minimum Deposit & Account Types

XM

  • Minimum Deposit: $5
  • Account Types: Micro, Standard, Ultra Low, Shares
  • Ideal for: Beginners and small-cap traders

Exness

  • Minimum Deposit: $10
  • Account Types: Standard, Standard Cent, Raw Spread, Zero, Pro
  • Flexible leverage options and swap-free accounts

IC Markets

  • Minimum Deposit: $200
  • Account Types: Standard, Raw Spread
  • Ideal for: Experienced traders, scalpers, EA users

Verdict: XM and Exness are better for beginners and low-capital traders. IC Markets is more tailored to professional traders with larger capital.

Spreads, Commissions & Trading Costs

XM

  • Spreads: From 0.6 pips (Ultra Low Account)
  • Commission: Zero (except Shares account)
  • No hidden charges

Exness

  • Spreads: From 0.0 pips (Raw and Zero Accounts)
  • Commission: $3.5 per side ($7 round-turn) on Raw/Zero
  • Very low trading fees and instant withdrawals

IC Markets

  • Spreads: From 0.0 pips (Raw Account)
  • Commission: $3.5 per side ($7 total)
  • True ECN pricing with deep liquidity

Verdict: IC Markets and Exness are top-tier when it comes to raw spreads and
ECN-style pricing. XM suits traders who prefer commission-free accounts.

Leverage Options

XM

  • Leverage: Up to 1:1000 (varies by region and account)
  • Risk protection features for beginners

Exness

  • Leverage: Up to 1:Unlimited (for qualified clients)
  • Offers flexible leverage that adjusts with account balance

IC Markets

  • Leverage: Up to 1:500
  • Strict leverage structure in line with ASIC and CySEC regulations

Verdict: Exness leads in leverage flexibility, followed by XM. IC Markets offers controlled, professional leverage settings ideal for disciplined trading.

Trading Platforms

XM

  • MT4, MT5, WebTrader
  • XM Mobile App
  • Simple, clean UI and fast execution

Exness

  • MT4, MT5, WebTerminal, Exness Trader App
  • Advanced charting, real-time support, biometric login

IC Markets

  • MT4, MT5, cTrader, TradingView
  • Best for: Algorithmic trading, scalping, and chart-based execution

Verdict: IC Markets wins in platform variety and depth. Exness provides one of the best mobile experiences. XM is perfect for traders who prefer simplicity.

Deposit & Withdrawal Speed

XM

  • Deposit: Instant
  • Withdrawals: Processed within 24 hours
  • Payment methods: Cards, bank transfers, e-wallets

Exness

  • Deposit: Instant
  • Withdrawals: Instant (24/7 auto-processed)
  • Supports crypto, local bank, e-wallets, internal transfers

IC Markets

  • Deposit: Instant
  • Withdrawals: 24 hours (business days)
  • Trusted, but no crypto withdrawals

Verdict: Exness is unmatched when it comes to instant withdrawals — a game-changer for active traders.

Bonuses & Promotions

XM

  • $30 no-deposit bonus (in selected countries)
  • 100% deposit bonus up to $500
  • Loyalty program & trading contests

Exness

  • Does not focus on bonuses (regulated strategy)
  • Occasionally offers region-based promotions

IC Markets

  • No bonuses or promotions (strict regulatory adherence)

Verdict: XM is the best if you’re looking for bonuses and trading rewards. Exness focuses on real performance over promotions.

Who Should Choose Which Broker?

  • Choose XM if youre a beginner looking for low deposits, bonus offers, and
    simple accounts.
  • Choose Exness if you want fast withdrawals, ultra-high leverage, and flexible
    accounts for all levels.
  • Choose IC Markets if youre a scalper, algorithmic trader, or professional
    needing raw spreads and institutional execution.

✅ Conclusion: All Three Are Excellent — But Suit Different Trader Profiles

All three brokers — XM, Exness, and IC Markets — are regulated, trustworthy, and offer competitive trading conditions. The best one for you depends on your experience level, capital, and trading style.
Ready to start trading? Choose a broker that aligns with your goals — and always begin with a demo or small deposit to get a feel for the platform.

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DISCLAIMER

Forex trading carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments, due to leverage retail accounts lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.

 

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