Let's compare XM and IC Markets' mobile trading apps. Which one is better for trading? What are the pros and cons of each option?
XM and IC Markets are online brokers that offer a range of forex and CFD products to trade in financial markets. While the two are quite well-known in the industry, you might wonder about how they compare. One of the features that they both offer is mobile trading.
In general, the XM trading app offers the "order tracking" feature that allows users to see their entire history of trades and learn from them. Meanwhile, the IC Markets app provides access to financial news and reports so that users can expand their market knowledge and improve their skills.
To compare both apps further, here's an insight:
| Features | XM | IC Markets |
| 📱Available on Android | ✔️ | ✔️ |
| 📱Available on iOS | ✔️ | ✔️ |
| ⭐App Rating (on Google Play Store) | 4.0/5.0 from 18k reviews | 4.5/5.0 from 453 reviews |
| ⏬Downloads | >5 million users | >100k users |
| 4️⃣MT4 Accounts | ❌ | ❌ |
| 5️⃣MT5 Accounts | ✔️ | ✔️ |
| ⏏️cTrader Accounts | ❌ | ✔️ |
| 🔔Price Alerts | ✔️ | ✔️ |
| 📈Chart Drawing Tools | ✔️ | ✔️ |
| 📊Chart Types | Bar Chart, Line Chart, Candlesticks | Bar Chart, Line chart, Dots Chart, Area Chart, Candlesticks |
| 🔍Watchlist | ✔️ | ✔️ |
| 📅Economic Calendar | ✔️ | ✔️ |
| 🧩Demo Account | ✔️ | ✔️ |
| 💰Minimum Deposit | $5 | $200 |
| 💳Deposit and Withdrawal Methods | Bank wire, Credit/Debit card, Neteller, Skrill, UnionPay, WebMoney | Bank wire, Credit/Debit card, PayPal, Skrill, Neteller, UnionPay, BPay, FasaPay, Poli |
| 🌐Available Languages | English, Arabic, Chinese, Czech, French, German, Greek, Hindi, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Ukrainian, Vietnamese | English, Arabic, French, Thai, Indonesian, Malaysian, China, Italian, Turkish, Russian, Swedian, Korean, Polish, Portuguese Hungarian |
Continue reading to find out all the details and comparisons between the two.
XM Trading App Features and Benefits
XM is a broker that has been in business since 2009. To provide a seamless trading experience for its clients, the broker offers a mobile trading app that facilitates trading on the go.
The app is available on the App Store for Apple users and Google Play Store for Android users to download. At the time of writing, the app has been downloaded 5 million times on Play Store and has an average of 4.0/5.0 rating from over 18k reviews.
Once you downloaded the app, you can log in using your account credentials or if you are new, you can register a new account through the app. You can also upload documents and complete the verification process using the app. However, please note that currently the app only supports MT5 accounts.
On the XM app, you can trade various instruments, including forex, stock CFDs, stock indices CFDs, CFDs on precious metals, and CFDs on energies. You can open trades at any time and execute various orders such as stop loss, take profit, and trailing stop.
It also offers a demo account that lets you trade with no risk using virtual money. On top of that, the app also allows you to check your previous orders to keep track of your performance and learn from your past mistakes.
Here are some of the features offered in the XM mobile app:
- Account registration and verification feature
- User-friendly dashboard to access all of the available features
- Deposit, withdraw, and transfer funds to other accounts
- Charts and orders to place various types of trades
- Market analysis to gather resources and conduct an in-depth analysis
- The ability to track past orders and strategies
- Real-time interactive charts with zoom and scroll options
- Three chart views, including Bar Chart, Line Chart, and Candlesticks
IC Markets Trading App Features and Benefits
IC Markets is a reputable broker that was founded in 2007. Aside from desktop and web trading platforms, the broker also offers a mobile trading app that allows traders to trade on the go using their mobile phones.
The app is available on both Android and iOS. At the time of writing, the app has been downloaded over 100k times on Play Store and has an average of 4.5/5.0 rating from 453 reviews.
With this app, you can enter various market instruments and trade various instruments at low spreads. Some of the available instruments are forex, CFDs on commodities, stocks, futures, bonds, indices, and cryptocurrencies.
There are also loads of chart options and technical indicators that you can use to improve your trades. It is worth noting that you can log in to the app using your MT5 or cTrader account.
Aside from buying and selling CFDs, you can also check out economic events in the economic calendar and enhance your knowledge by reading news and articles available on the app
You can even set price alerts that would notify you when prices change and move in a certain direction. On top of that, you can organize different symbols on the app and create customized watchlists according to your needs.
The following are the features offered in the IC Markets trading app:
- Account registration and verification feature
- Deposit, withdraw, and transfer funds to other accounts
- Economic calendar to show future events
- Switch between accounts and manage them all in one app
- Trade statistics to analyze your past trades and strategies in detail
- Get notified by price alerts anywhere and any time
- Tools for advanced technical analysis
- Five chart views, including Bar Chart, Line chart, Dots Chart, Area Chart, and Candlesticks
- Four types of charts, including Standard Time Frames, Tick, Renko, and Range
Final Verdict: Which One is Better?
Both XM and IC Markets offer attractive trading apps with various useful features. The apps are completely free to download and require no additional subscription fees in the following months. Before we can conclude which one is better, we should take a look at the pros and cons of each option.
To begin with, XM mobile app offers the benefit of easy account opening and lower fees. Aside from that, the app is also very convenient to use and offers excellent customer support service that's available 24 hours a day, five days a week. However, the app only offers a limited portfolio of products and features compared to its competitors.
On the other hand, IC Markets trading app has a wide range of products to choose from, a user-friendly interface, and excellent level of customizations. The app also offers many types of charts and real-time quotes across a variety of instruments. The only downside is that there is no multi-factor authentication and no touch ID and face ID for logging in.
Considering all the factors above, we found that both apps are great, but IC Markets provides a slightly better value when it comes to mobile trading apps. Not only does the app is easy to use, but it also features a handful of instruments as well as trading tools that you can use to improve your trades. It can also be used by beginners and professional traders alike due to its high customization and options.
Mobile trading is a highly suggested method for those who don't want to miss any market opportunity and trade on the go. If you need more trading app recommendations, we have compiled a list of the best brokers with mobile apps to check out.
10 Comments
Marcus
Jun 13 2023
Can't believe I've been missing out these days!! I didn't know that you could trade on mobile, let alone opening a new account too? This is actually so cool because I travel around most of the time, making it hard to just sit down and stare in front of the computer for hours. My question is regarding the safety of mobile trading. Can we really trust these apps? What would happen if I lost my phone, will I be able to lock my account and save my assets then?
Fina
Jun 13 2023
Hi Marcus. I can assure you that online trading apps are safe to use as long as you use regulated brokers. More often than not, these apps use the same safety protocols as those used by the web platforms. Most brokers also have encrypted firewalls installed to ensure secure transactions made using the app.
As for the lost phone scenario, some apps have two-factor authentication feature that can protect your assets. Other than that, you can also log in using the web platform and contact the customer service immediately to lock your account and prevent anyone else to access your account.
Lala
Jun 13 2023
Wow these apps sound very promising to me and now I don't know which one to choose! Based on this article, it seems that IC Markets' app is better, but I'm also curious about XM's because of its high number of downloads. I mean, it has to be popular for a reason, right. Oh what about their trading fees and speed execution? Which one gets the upper hand? And I'm also curious about the withdrawal time in each broker. Sorry if I ask too much. Have a nice day!
Fattan
Jun 13 2023
There are many reasons that could explain why an app is more popular than the other, but in my opinion, most of the time popularity doesn't necessarily reflect the app's quality. Well, that's not the case here though because both XM and IC Markets offer excellent apps to trade with.
In terms of trading fees, I think XM is slightly better than IC Markets. In XM, the minimum deposit is $5, while in IC Markets, the minimum deposit is $200. As for spreads, the minimum standard spreads in both brokers is 0.6 pips, which is quite competitive compared to other brokers. Meanwhile, for speed execution, both are really good because they can execute your orders in less than 1 second. I'm not sure about withdrawal time though, but maybe you can get more information here: XM Withdrawal
Johnny
Jun 14 2023
Hey there. I'm an IC Markets user and I can assure you the withdrawal process in this broker is really seamless. The process is very easy and usually takes about a few business days depending on your payment method. I think international bank wire takes the longest time, about 10-14 days at least. I myself prefer to use e-wallets because it's faster and cheaper as well. Usually e-wallets are free of withdrawal fees, but just watch out for conversion fees. If you want to avoid it, simply withdraw using your base currency.
Leon
Jul 20 2023
Hey there! I've been exploring the IC Markets trading app, and I must say, it offers quite a lot of features that other apps don't have. One thing that caught my eye is the variety of chart types you can choose from, like the line chart and the candlestick chart. I'm just getting started as a trader, and I'm not sure which chart view would be the easiest for me to learn and use effectively. So, I'd love to get your opinion on this: among the five options provided in the IC Markets app, which chart view do you think is the simplest and quickest for new traders like me to pick up? Any advice you can give would be really helpful!
Loris
Jul 21 2023
Hey! As a new trader, the line chart is often considered the simplest and quickest chart view to learn in the IC Markets trading app. It connects data points with a line, making it easy to visualize price trends over time. The line chart provides a straightforward representation of price movements, which can be helpful for beginners to understand market trends and make informed trading decisions. Once you get familiar with the line chart, you can explore other chart views like the candlestick chart to enhance your technical analysis skills further. Happy trading! If you have any more questions, feel free to ask!
Jackie
Jul 20 2023
Just being confused here. I mean based on the article, if you guys have some experiences with those mobile trading app, which one between XM or IC Markets, is considered the best for analysis? XM's mobile app boasts easy account opening, lower fees, and excellent customer support, available 24/5. However, it offers a limited portfolio of products and features compared to its competitors. On the other hand, IC Markets' trading app offers a wide range of products, a user-friendly interface, and extensive customizations, along with various types of charts and real-time quotes for a variety of instruments. The only drawbacks are the absence of multi-factor authentication and touch ID/face ID for logging in. So, which app stands out for conducting effective and efficient market analysis? Let me know your take! Thank you!
Kevin
Jul 21 2023
In terms of analysis perspective, I can confidently say that IC Markets' trading app has several strengths that make it an attractive choice for conducting effective and efficient market analysis. The app's wide range of products and instruments, along with its user-friendly interface, provides traders with greater flexibility and access to a variety of trading opportunities. Based on my experience, I found that the extensive customization options were particularly beneficial, as they allowed me to tailor the app to my specific trading preferences and strategies.
Additionally, the availability of various chart types and real-time quotes further enhances the app's capabilities for in-depth market analysis. Having access to up-to-date information and a variety of charting tools enabled me to make well-informed trading decisions with ease.
Overall, my experience with IC Markets' trading app has been very positive when it comes to analysis. The platform's features and customization options have truly empowered me to conduct thorough market analysis and refine my trading strategies accordingly. If you prioritize effective analysis tools and a customizable trading environment, IC Markets' app might be an ideal fit for your trading needs
Perrot
Jul 21 2023
Absolutely, I agree with that statement. IC Markets' trading app does offer several strengths for conducting efficient market analysis, such as its wide range of products, user-friendly interface, and extensive customization options. These features provide traders with the flexibility and tools necessary to conduct thorough analysis and make informed trading decisions.
However, it's important to note that if you choose to trade with MetaTrader, XM can indeed be a fantastic choice as well. XM's mobile app has its own set of advantages, such as easy account opening, lower fees, and excellent customer support available 24/5. For traders who value convenience and reliable assistance, XM can be a strong contender.
Moreover, while XM's app may have a more limited portfolio of products and features compared to some competitors, it still provides access to major cryptocurrencies like BTC, ETH, and LTC, which are popular choices among traders.