Quick Verdict — China Traders
Best Overall
XM Group
Higher overall score & more features
Best Spreads
XM Group
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for China Muslims
Best for Beginners
XM Group
Better education & support
1:5000 vs 1:1000
Max leverage
ASIC vs CySEC
Top regulator
Head-to-head comparison
Choosing between IC Markets and XM Group is a common dilemma for China traders in 2026. Both brokers are internationally recognized, with IC Markets scoring 4.8/5 and XM Group 4.7/5. For traders in China, key factors include low trading costs, reliable deposit methods like Bank Transfer, Skrill, Neteller, and USDT, and compliance with local financial regulations. IC Markets is known for its tight spreads and raw pricing model, ideal for scalpers and algorithmic traders. XM Group, on the other hand, offers a more beginner-friendly environment with extensive educational resources and a generous bonus scheme. This comparison will help you decide which broker aligns with your trading style and local needs.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
VS
XM Group
CySEC · ASIC · IFSC
4.3
CompareBroker score
Winner
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IC Markets | XM Group | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $5 | IC Markets |
For China traders, trading costs are a major consideration. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side, making it highly competitive for high-volume traders. XM Group’s Ultra Low account starts at 0.6 pips with no commission, which is simpler but slightly more expensive for frequent traders. On a typical 10-lot trade, IC Markets costs about $70 in total, while XM Group costs around $120. For scalpers and day traders in China, IC Markets is clearly more cost-effective.
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Account Types Comparison
| Account Type | IC Markets | XM Group |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $5 |
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Leverage Comparison - China Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| China (offshore) | Up to 1:5000 | Up to 1:1000 |
| Forex major pairs | 1:5000 | 1:1000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for China Traders
Traders in China typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IC Markets | XM Group | Winner |
|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | XM Group | Winner |
|---|
| Execution model | ECN/STP | True ECN | XM Group |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is renowned for its low-latency execution, with servers located in New York and London, and average execution speeds under 40ms. XM Group also offers fast execution but with slightly higher average latency. For scalpers and high-frequency traders in China, IC Markets provides a clear advantage in execution quality.
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Regulation & Safety for China Traders
| Safety Factor | IC Markets | XM Group |
|---|
| Primary regulator | ASIC | ASIC |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets Global is not
FCA-authorised — the FCA has issued a public warning about this entity, and its clients do not have FOS or FSCS protection; verify the specific entity and licence before depositing. Neither broker is regulated by the local Chinese financial regulator, which is common for international brokers serving China. Both maintain client fund segregation and negative balance protection.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for China traders may differ by entity.
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Deposits & Withdrawals for China
| Payment Method | IC Markets | XM Group |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
Depositing and withdrawing funds is straightforward for China traders at both brokers. IC Markets accepts Bank Transfer, Skrill, Neteller, and USDT, with minimum deposits of $200. XM Group also supports these methods, plus local Chinese bank transfers, with a lower minimum of $5. Both brokers process withdrawals quickly: e-wallets and USDT within 24 hours, bank transfers in 1-3 days. IC Markets charges no deposit fees, while XM Group offers free withdrawals for the first withdrawal each month. USDT deposits are particularly popular among China traders for their speed and low cost.
☪️
Islamic Accounts - Swap-Free for China Muslims
| Islamic Account Feature | IC Markets | XM Group |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and XM Group provide Islamic swap-free accounts for Muslim traders in China. IC Markets offers Islamic accounts on all account types, including Raw Spread and Standard, with no swap charges on overnight positions. XM Group offers Islamic accounts on Standard and Ultra Low accounts, also swap-free. However, both brokers may review accounts held open for extended periods (e.g., over 30 days) and may apply swap fees. China traders who require Islamic accounts will find both brokers accommodating.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IC Markets | XM Group | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
XM Group offers 24/5 customer support in Mandarin Chinese via live chat, phone, and email, which is a significant advantage for China traders. IC Markets provides 24/7 support in English, with limited Chinese-language support during Asian trading hours. For traders who prefer local-language assistance, XM Group is the better choice.
| Mobile Feature | IC Markets | XM Group | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
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Education & Research Tools
| Resource | IC Markets | XM Group | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
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Real User Reviews - Trustpilot
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Pros & Cons of Each Broker
IC Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-$200 min deposit
-No 24/7 support
XM Group
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - China Guide
Choose IC Markets if you...
- Are a scalper or high-volume trader needing tight spreads from 0.0 pips
- Prefer advanced platforms like cTrader for algorithmic trading
- Want the lowest trading costs on a per-lot basis
- Value fast execution speeds under 40ms
Choose XM Group if you...
- Are a beginner or retail trader looking for a low minimum deposit ($5)
- Prefer Mandarin Chinese customer support available 24/5
- Want access to generous bonuses and educational resources
- Need a simple, commission-free account structure
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FAQ - IC Markets vs XM Group in China
Is IC Markets or XM Group better for China?
+Can China traders use both brokers legally?
+Which broker has lower spreads for China traders?
+How do China traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for China?
+Final Verdict - China 2026
XM Group wins overall
For China traders in 2026, the choice between IC Markets and XM Group depends on your trading style. IC Markets is superior for cost-conscious scalpers and algorithmic traders, offering tighter spreads, faster execution, and advanced platforms. XM Group is better for beginners and those who prioritize local-language support, low minimum deposits, and bonus programs. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT, making them accessible for China traders. While neither is regulated by the local financial regulator, both maintain strong international oversight. Ultimately, IC Markets wins on cost and execution, while XM Group wins on accessibility and support.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
