XM vs ICICI Direct 2026: Which Broker is Better?
Compare XM and ICICI Direct side by side on fees, regulation, platforms and our expert ratings. Find out which broker suits your needs.
XM
ICICI Direct
| XM | ICICI Direct | |
|---|---|---|
| BrokerRank Score | 3.9/5 ✓ | 3.1/5 |
| Min. Deposit | $5 | $0 ✓ |
| Spread from | 0.6 pips | 0 pips ✓ |
| Max Leverage | 1:1000 ✓ | 1:5 |
| Regulation | CySEC, DFSA, FSC ✓ | SEBI |
| Platforms | MT4, MT5, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
XM is the better choice overall, scoring 3.9/5 vs 3.1/5 on BrokerRank's independent rating. On fees, ICICI Direct offers lower spreads (0 pips).
See full side-by-side comparison belowXM vs ICICI Direct: Key Differences
XM
WinnerICICI Direct
Fees Comparison
XM
ICICI Direct
BrokerRank Verdict
XM scores 3.85/5 while ICICI Direct scores 3.15/5 in our independent rating.
XM edges ahead overall, but ICICI Direct may suit traders who prioritise different features. Read our full reviews for a detailed breakdown. Scores are based on our transparent methodology.
Who Should Choose Which?
XM
3.9/5
Choose XM if you want…
- Higher overall rating (3.9/5)
- No per-trade commission
- Higher leverage (up to 1:1000)
- More regulatory licences (5)
ICICI Direct
3.1/5
Choose ICICI Direct if you want…
- Tighter spreads (from 0 pips)
- No minimum deposit
- More established (est. 2000)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both XM & ICICI Direct are available in
Frequently Asked Questions
1Is XM better than ICICI Direct?
XM scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs ICICI Direct's 3.1/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, XM or ICICI Direct?
XM offers spreads from 0.6 pips, while ICICI Direct starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for XM vs ICICI Direct?
XM requires a minimum deposit of $5. ICICI Direct requires $0.
4Which broker is safer, XM or ICICI Direct?
XM is regulated by CySEC, DFSA, FSC, FSCA, FSA, while ICICI Direct holds licences from SEBI.
5What trading platforms do XM and ICICI Direct support?
XM supports MT4, MT5, Proprietary Mobile. ICICI Direct supports Proprietary Web, Proprietary Mobile.
6Can I use both XM and ICICI Direct?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Key Trading Terms
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BrokerRank Research
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across our broker database
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
Higher Rated
XM
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