Are there any bonus offers for UK retail clients with IC Markets or XM?

Due to FCA regulations, traditional deposit bonuses are generally not available for UK retail clients with either IC Markets or XM. Brokers instead focus on competitive trading conditions, educational resources, and client support.

Which broker has tighter spreads: IC Markets or XM?

IC Markets typically offers tighter raw spreads on its Raw Spread account, often from 0.0 pips for EUR/USD, combined with a commission. XM's Ultra Low account also offers competitive spreads with commission, while its Standard account is commission-free but with wider spreads.

What is the minimum deposit for IC Markets and XM?

IC Markets generally requires a minimum deposit of $200 (or equivalent). XM offers a much lower entry point with a minimum deposit of $5 (or equivalent), making it more accessible for new traders.

Are IC Markets and XM regulated?

Yes, both IC Markets and XM are regulated by multiple reputable authorities such as ASIC and CySEC. For UK retail clients, their services are typically provided via their international or EU-regulated entities, adhering to strict financial standards.

IC Markets vs XM Bonus Offers (2026)

When comparing IC Markets vs XM bonus offers, traders often seek incentives to maximise their initial capital or trading activity. However, it's crucial to look beyond just bonuses and evaluate the full trading environment provided by each broker. This in-depth comparison will explore not only any available bonus structures but also key trading conditions like spreads, commissions, and regulatory oversight, to help you make an informed decision.

Advertising partner	Vantage; affiliate links may earn us commission
Trading costs	Check the selected account's current spreads, commission and swaps
Funding	Check the applicable currency and payment-method minimum in the portal
Regulation	Verify the contracting entity; UK and international protections differ
Withdrawals	Subject to verification, available funds, method and bank processing
Platforms	Confirm the platform offered for your selected account

Understanding Broker Bonuses and Their Importance

Broker bonuses, while appealing, often come with terms and conditions that can impact their real value. These might include trading volume requirements, time limits, or restrictions on withdrawing profits generated from bonus funds. For UK traders, it's important to note that due to regulatory restrictions by the Financial Conduct Authority (FCA), traditional deposit bonuses are largely prohibited for retail clients. Therefore, "bonus offers" in this context often refer to other incentives or value propositions that brokers might provide, such as competitive pricing, loyalty programmes (where permitted), or specific account features.

IC Markets Overview

IC Markets is a well-regarded global CFD broker known for its raw spreads and high execution speed, often appealing to scalpers and algorithmic traders. While they are regulated by authorities such as ASIC (Australia), CySEC (Cyprus), and SCB (Bahamas), their UK operations fall under an EU entity or similar, which means traditional sign-up bonuses are not typically available for UK retail clients in line with FCA guidelines. Instead, IC Markets focuses on its core offering of low spreads, competitive commissions, and a wide range of tradable instruments across MetaTrader 4, MetaTrader 5, and cTrader platforms.

XM Overview

XM, also a prominent global CFD broker, operates under various regulatory licenses, including CySEC (Cyprus), ASIC (Australia), and FSC (Belize). Historically, XM has been known for offering various promotions and bonuses, particularly to clients outside of strict regulatory environments like the UK and EU. For UK retail clients, similar to IC Markets, direct deposit bonuses are generally not permitted. XM tends to attract a broad range of traders with its user-friendly platforms (MT4/MT5), extensive educational resources, and multi-lingual customer support. They might offer other types of promotions, such as loyalty programs or free VPS services, depending on the client's jurisdiction and account type.

Comparison Table: IC Markets vs XM

Here's a breakdown of key features to consider when evaluating IC Markets and XM, especially given the regulatory landscape for bonuses in the UK:

|:------------------|:--------------------------------------------|:----------------------------------------------------------------|:-------------------------------------------------------------------|

| Commission | $3.50 per lot, per side (Raw Spread) | Usually 0 (Standard Account); $3.50 per lot, per side (Ultra Low) | Ultra Low account has tighter spreads but similar commission to IC Markets. |

| Regulators | ASIC, CySEC, SCB (UK via international entity) | CySEC, ASIC, FSC (UK via international entity) | Both reputable, but UK clients primarily use offshore/EU entities. |

| Bonus Offers (UK Retail) | Not typically for UK retail clients (regulatory) | Not typically for UK retail clients (regulatory) | Focus on core trading conditions and value for UK traders. |

*Figures are typical at the time of writing — always check the broker's official website for the most current information.*

Deep Dive into Trading Conditions

Since direct bonus offers are limited for UK retail clients, the true value proposition of IC Markets and XM lies in their trading conditions. IC Markets excels with its raw spreads and competitive commission structure on its Raw Spread account, making it highly attractive for high-volume traders, scalpers, and those employing Expert Advisors (EAs). The inclusion of cTrader is also a significant plus for traders who prefer this platform's advanced features and user-friendly interface.

XM, on the other hand, provides a more accessible entry point with its lower minimum deposit and commission-free standard accounts (though with wider spreads). Their Ultra Low account competes more directly with IC Markets on spreads and commission. XM also prides itself on strong customer support and a wealth of educational resources, which can be invaluable for newer traders or those looking to expand their knowledge. Their commitment to fast execution and no re-quotes is also a strong selling point.

Verdict by Trader Type

For Cost-Sensitive, High-Volume Traders (Scalpers, EAs)

IC Markets generally holds an edge. Its Raw Spread account with ultra-tight spreads and transparent, low commissions is designed for this demographic. The cTrader platform also offers advanced order types and faster execution often sought by these traders.

For New Traders or Those with Smaller Capital

XM might be more appealing due to its significantly lower minimum deposit ($5) and commission-free Standard account. While spreads are wider, the overall cost structure is simpler, and their educational support can help new traders navigate the markets.

For Traders Seeking a Balance of Features and Support

Both brokers offer robust platforms (MT4/MT5) and reliable execution. XM's extensive educational materials and multi-lingual support might sway those who value comprehensive learning resources. IC Markets provides a cleaner, more direct trading environment focused purely on competitive pricing.

Remember, CFD trading involves significant risk and is not suitable for all investors. You could lose more than your initial deposit. Only speculate with money you can afford to lose. Past performance is not indicative of future results.

---

We partner with Vantage as a leading choice for competitive trading conditions. For those seeking excellent spreads, fast execution, and a trusted trading environment, you might consider opening an account.

Open a Vantage account

---

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IC Markets vs XM Bonus Offers

Quick answer (2026)