IC Markets operates through regulated entities that include International Capital Markets Pty Ltd, authorised by ASIC under licence number 335692, and IC Markets (EU) Ltd, regulated by CySEC under licence number 362/18. International services are also provided through Raw Trading Ltd, regulated by the Seychelles FSA under licence number SD018, and IC Markets Global Ltd, regulated in the Bahamas.

The level of protection at IC Markets depends on the entity serving the client. An ASIC or CySEC account does not necessarily provide the same conditions and rights as an account opened with an international entity, and leverage, complaint procedures, negative-balance protection and available products may differ even when the client uses the same Raw Spread account or platform.

Before choosing IC Markets for scalping or algorithmic trading, traders should verify the legal company name and licence number shown during registration. Low spreads, liquidity and execution are important, but they do not determine which entity is responsible for client funds or what legal protection applies if a dispute or account problem occurs.

Regulated IC Markets entities hold eligible client funds in segregated accounts, separate from the capital used for the company’s operations, under the requirements of the relevant regulator. The broker also states that negative balance protection may apply to certain clients and entities under the conditions of the applicable account agreement.

Client-fund protection is not identical across the IC Markets group and may differ between the ASIC-regulated Australian entity, the CySEC-regulated European entity and international entities in Seychelles or the Bahamas. Traders should identify the legal company that will hold their funds before choosing a Raw Spread account or making a deposit.

XS operates through a broad regulatory structure that includes XS Prime Ltd, authorised by ASIC under licence number 374409, and XS Markets Ltd, regulated by CySEC under licence number 412/22, together with entities supervised by the FSCA in South Africa, the FSA in Seychelles, the FSC in Mauritius and the LFSA in Malaysia. The group also has registrations or related entities connected to the UAE and Kuwait, reflecting its international reach.

Traders should distinguish between a full financial-services licence and registrations or authorisations with a different scope. The appearance of the XS name in a local register does not necessarily provide the same level of protection available under ASIC or CySEC, and trading conditions, leverage and complaint procedures may vary according to the legal company accepting the account.

When researching XS licences, the number of regulators listed is not enough. Traders should identify the specific entity they will contract with and verify its number in the official register. ASIC and CySEC entities may be more suitable for traders prioritising strict oversight, while some international entities may offer greater flexibility under a different level of regulatory protection.

XS applies client fund protection measures according to the regulatory entity responsible for each account. These measures include separating eligible client money from company operating funds, together with controls related to deposits, withdrawals, identity verification and anti-money-laundering requirements. XS agreements also provide negative balance protection under the applicable conditions.

Negative balance protection may limit liability from losses exceeding the available trading-account balance, but legal safeguards are not identical across all entities. Investor compensation eligibility, complaint procedures and client-money protection may differ between the ASIC, CySEC and international entities in Seychelles, Mauritius and other jurisdictions. Traders should verify their legal company before depositing.