Playing with .ico files for the first time. I created a simple 128px square, added an 'A' in Xara and exported as png.
I then converted to ico using Format Factory, for no other reason than I had it installed on the machine I was using. The output settings were set to 128px to match the png.
The result is below. I then used an online converter...same result. Why the extra 'padding', and is there something fundamental that I'm missing?

The image is just a screenshot of the two files in File Explorer.

Click image for larger version. 

Name:	ico.jpg 
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