IC Markets vs XM: fees, cashback and which to choose
IC Markets is one of the world's largest forex and CFD brokers; XM is a globally accessible broker for all levels. We compare them on fees, available cashback and which trader profile each suits — plus how to recover part of your fees on both.
Quick comparison
| IC Markets | XM | |
|---|---|---|
| Cashback | 28% | 25% |
| Applies to | of spreads and commissions | of spreads and commissions |
| Countries | 6+ | 6+ |
| Best for | forex and CFD traders who prioritize low spreads and institutional execution | beginners and traders starting with small deposits |
Fees
IC Markets. Very tight ECN spreads (from 0.0 pips) plus per-lot commission; among the lowest total cost in forex.
XM. Commission-free accounts with slightly wider spreads; very beginner-friendly on capital.
Available cashback
IC Markets offers more cashback (28%) than XM (25%), so you recover a larger share of every fee you pay. The gap matters most if you trade with volume.
Work out how much you'd recover for your volume with the cashback calculator.
Pros and cons
Pros
- Among the lowest ECN spreads
- Fast, deep execution
- Regulated across jurisdictions
- 28% cashback via Omanero
Cons
- Aimed at somewhat experienced traders
- Per-lot commission on top of the spread
Pros
- Low minimum deposit
- Abundant educational material
- Millions of accounts and multilingual support
- 25% cashback via Omanero
Cons
- Wider spreads on standard accounts
- Less appealing to professional traders
Best for each profile
Choose IC Markets if you're forex and CFD traders who prioritize low spreads and institutional execution. Choose XM if you're beginners and traders starting with small deposits.
Verdict
If your priority is recovering the most fees, IC Markets leads with 28% cashback. If you value XM's profile more, you still recover fees at 25%. Best of all: you don't have to choose — use both and earn cashback on each.
Recover fees on IC Markets and XM with verifiable payments.