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January 8, 2025
FN Trading Lab Admin
Broker Comparison

Forex Cashback Comparison: XM vs Exness vs ICMarkets (2025)

Comprehensive comparison of the top 3 forex cashback brokers. Compare rates, spreads, regulations, and features to find the best broker for your trading style.

πŸ† Quick Comparison

BrokerCashbackMin DepositEUR/USD SpreadOverall Score
ExnessπŸ‘‘$20/lot$10.3 pips89/100
XM$18/lot$51.0 pips87/100
ICMarkets$15/lot$2000.0 pips*82/100

πŸ† Winner: Exness

Exness takes the crown with the highest cashback rate of $20/lot, unlimited leverage, and excellent trading conditions for Asian traders.

Detailed Broker Comparison

Exness logo

ExnessπŸ‘‘ Winner

(4.8/5)
$20/lot
Cashback Rate
Regulation
FCA, CySEC, FSA
Min Deposit
$1
Max Leverage
Unlimited
Overall Score
89/100

Major Pair Spreads

EUR/USD: 0.3 pips
GBP/USD: 0.4 pips
USD/JPY: 0.3 pips

βœ… Pros

  • β€’ Highest cashback rate at $20/lot
  • β€’ Unlimited leverage on major pairs
  • β€’ Instant withdrawals available
  • β€’ Multiple regulatory licenses

❌ Cons

  • β€’ Limited educational resources
  • β€’ Complex fee structure
  • β€’ Higher spreads on standard accounts
Best For
High-volume traders, professionals
Popular in PhilippinesPopular in MalaysiaPopular in Thailand
XM logo

XM

(4.7/5)
$18/lot
Cashback Rate
Regulation
ASIC, CySEC, FCA
Min Deposit
$5
Max Leverage
1:1000
Overall Score
87/100

Major Pair Spreads

EUR/USD: 1.0 pips
GBP/USD: 1.2 pips
USD/JPY: 1.0 pips

βœ… Pros

  • β€’ Strong regulatory oversight
  • β€’ Excellent educational resources
  • β€’ 24/7 customer support
  • β€’ Regular promotions and bonuses

❌ Cons

  • β€’ Higher spreads than ECN brokers
  • β€’ Withdrawal fees on some methods
  • β€’ Lower cashback than Exness
Best For
Beginners, educational resources
Popular in PhilippinesPopular in IndonesiaPopular in Singapore
ICMarkets logo

ICMarkets

(4.6/5)
$15/lot
Cashback Rate
Regulation
ASIC, CySEC
Min Deposit
$200
Max Leverage
1:500
Overall Score
82/100

Major Pair Spreads

EUR/USD: 0.0 pips*
GBP/USD: 0.1 pips*
USD/JPY: 0.0 pips*

βœ… Pros

  • β€’ True ECN execution
  • β€’ Raw spreads from 0.0 pips
  • β€’ Fast execution speeds
  • β€’ cTrader platform available

❌ Cons

  • β€’ Higher minimum deposit
  • β€’ Commission charges on raw accounts
  • β€’ Lower cashback rate
  • β€’ Limited educational content
Best For
Scalpers, EA trading, professionals
Popular in SingaporePopular in MalaysiaPopular in Australia

Detailed Scoring Breakdown

Cashback & Costs

Weight: 30%
Exness
95/100
Highest cashback at $20/lot
XM
85/100
Good cashback at $18/lot
ICMarkets
70/100
Lower cashback but tight spreads

Regulation & Safety

Weight: 25%
Exness
90/100
Multiple tier-1 licenses
XM
95/100
Strong regulatory oversight
ICMarkets
85/100
ASIC regulated, good reputation

Trading Conditions

Weight: 20%
Exness
85/100
Unlimited leverage, good execution
XM
80/100
High leverage, multiple account types
ICMarkets
90/100
ECN execution, tight spreads

Platform & Tools

Weight: 15%
Exness
80/100
Standard MT4/MT5 platforms
XM
85/100
Good platforms plus education
ICMarkets
90/100
MT4/MT5 plus cTrader

Customer Support

Weight: 10%
Exness
85/100
Good multilingual support
XM
90/100
24/7 excellent support
ICMarkets
80/100
Professional support

Our Recommendations

πŸ† For Maximum Cashback

Exness

Highest cashback at $20/lot with unlimited leverage and instant withdrawals.

πŸ“š For Beginners

XM

Best educational resources, excellent support, and good cashback rates.

⚑ For Scalpers

ICMarkets

Tightest spreads, ECN execution, and cTrader platform for advanced trading.

Start Earning Cashback Today

Ready to Choose Your Broker?

All three brokers offer excellent cashback opportunities through FN Trading Lab. Choose based on your trading style and priorities, then start earning on every trade.