In today’s article we will talk about two powerful brokers that you probably already know! These brokers are XM and IC MARKETS, we will see some of the features that they offer so you can choose the one that works best for you!
Brokers regulation!
Let’s start talking about regulation, it’s something very important when it comes to a broker. The regulation assures us that our money will be safe in case of any issue, and that we will always have support from the broker.
So, IC Markets is registered with Cyprus Limited Companies and regulated by Cyprus Securities, the license number is also regulated by Australian Securities and Investments. As you can see, there are 3 different types of licenses.
On the other hand, if you go to the website of XM, at the bottom you will also be able to identify that it is regulated by the FSC and the financial services commission. It is also authorized and regulated by Cyprus and its securities, exchange and commission that is the PYSAC. The difference between these brokers is the regulated Australian service, so we can say that IC MARKETS is better in this regard.
Both brokers offer demo accounts!
Well, now let’s talk about demo accounts, that’s why we like these brokers, since both of them, XM and IC Markets have demo accounts!
Why must you use a demo account?
It is super important to start using a demo account when you are a beginner in trading. A demo account will help you practice with fake money as many times as you want before you decide to start using a real account!
There are 3 important things you must know! Number 1, the type of account in which you will be operating, number 2, the type of demo account that you will be able to get, for example, the leverages, balances, and so on.
It is super important to know if you are going to be trading with a different account other than the demo account, if the accounts are different then they will be different when it comes to losses. In this case we can say that the demo accounts at XM and IC Markets are the same, so, in this area they are in a tie.
Minimum deposits
Now when we talk about the minimum deposit on these brokers. XM takes a step forward, the minimum deposit is only 30 dollars. You will not need a lot of money to start operating, which is great!
When it comes to IC Markets, the minimum deposit is 200 dollars, many people prefer to invest less at the beginning. So, XM wins with the lowest deposit, another important thing you should know is that XM and IC Market work with MT4 and MT5, that is why they are so powerful!
What is our conclusion?
As you can see, IC Markets and XM are powerful brokers, and what is best, trustworthy brokers!
If you are willing to give these brokers a try, we will leave you the links so you can visit the official websites.
IC Markets: https://blwonlinetrading.com/icmarketsbroker
XM: https://blwonlinetrading.com/xmbroker
On the other hand, we want to tell you that, if you want to learn about trading, you can register in the BLW Trading Academy academy, which is free. Topics related to binary options and Forex are developed, surely it will help you a lot! This is the link so you can register there: https://blwtradingacademy.com/