Compare › CMC Markets vs XM Group — Iceland
Complete Head-to-Head Comparison · 2026
CMC Markets vs XM Group: Comprehensive Comparison for Iceland Traders
Which broker is better for Iceland traders in 2026? Expert analysis across 12 categories.
CMC Markets
FCA · ASIC · MAS · Founded 1989
VS
XM Group
CySEC · ASIC · IFSC · Founded 2009
Quick Verdict — Iceland Traders
Best Overall
XM Group
Higher overall score & more features
Best Spreads
XM Group
Lower trading costs for scalpers
Islamic Accounts
XM Group
Swap-free for Iceland Muslims
Best for Beginners
XM Group
Better education & support
$0 vs $5
Min deposit
1:1 vs 1:1000
Max leverage
FCA vs CySEC
Top regulator
4.2 vs 4.3
Our scores
Table of Contents
Icelandic traders seeking a reliable online broker often weigh the merits of CMC Markets and XM Group. This comparison examines their regulatory safeguards, trading costs, platforms, and account features to help you decide. Both brokers are well-established, but they cater to different trading preferences and experience levels.
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Overall Scores Comparison
CMC Markets
FCA · ASIC · MAS
4.2
CompareBroker score
VS
XM Group
CySEC · ASIC · IFSC
4.3
CompareBroker score
Winner
Trading Costs
Spreads, commissions
4.3
4.4
Platforms
MT4, MT5, cTrader, TV
3.9
4.0
Regulation
Safety, oversight
4.5
4.6
Deposits
Local payments
4.3
4.4
Customer Support
24/5, chat, phone
4.0
4.1
Education
Webinars, guides
4.3
4.4
Execution
Speed, slippage
4.0
4.4
Mobile App
iOS, Android
4.2
4.3
💹
Trading Costs - Spreads & Commissions
| Instrument | CMC Markets | XM Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $5 | CMC Markets |
📂
Account Types Comparison
| Account Type | CMC Markets | XM Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✗ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✗ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $5 |
⚖️
Leverage Comparison - Iceland Traders
| Entity / Asset | CMC Markets | XM Group |
|---|---|---|
| Iceland (offshore) | Up to 1:1 | Up to 1:1000 |
| Forex major pairs | 1:1 | 1:1000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Iceland Traders
Traders in Iceland typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | CMC Markets | XM Group | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | CMC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | CMC Markets |
| Crypto CFDs | 30+ | 20+ | CMC Markets |
| Stocks / Share CFDs | 1,000+ | ✗ | XM Group |
| ETFs | ✓ | ✗ | Tie |
🖥️
Platforms Comparison
| Platform | CMC Markets | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✗ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✗ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
⚡
Execution Quality - Speed & Slippage
| Factor | CMC Markets | XM Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | XM Group |
| Avg execution speed | ~30ms | ~40ms | CMC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✗ | ✓ | Tie |
🛡️
Regulation & Safety for Iceland Traders
| Safety Factor | CMC Markets | XM Group |
|---|---|---|
| Primary regulator | FCA | ASIC |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Iceland traders may differ by entity.
💳
Deposits & Withdrawals for Iceland
| Payment Method | CMC Markets | XM Group |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✗ | ✓ |
| USDT / Crypto | ✗ | ✓ |
| Withdrawal time | 5 business days | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
☪️
Islamic Accounts - Swap-Free for Iceland Muslims
| Islamic Account Feature | CMC Markets | XM Group |
|---|---|---|
| Swap-free available | ✗ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
💬
Customer Support Comparison
| Support Feature | CMC Markets | XM Group | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | CMC Markets |
📱
Mobile App Comparison
| Mobile Feature | CMC Markets | XM Group | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | CMC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | CMC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
📚
Education & Research Tools
| Resource | CMC Markets | XM Group | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | Weekly | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | CMC Markets |
⭐
Real User Reviews - Trustpilot
⚖️
Pros & Cons of Each Broker
CMC Markets
Pros
+Top-tier regulated
Cons
-No TradingView
-No 24/7 support
XM Group
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
👤
Who Should Use Which Broker? - Iceland Guide
Choose CMC Markets if you...
Are a beginner trader in Iceland
Want TradingView integration
Have less than $200 to start
Want FCA regulation
Choose XM Group if you...
Are a beginner trader in Iceland
Are a scalper or EA trader
Need PAMM/MAM accounts
Want True ECN regulation
❓
FAQ - CMC Markets vs XM Group in Iceland
Are CMC Markets and XM Group regulated for traders in Iceland? +
Which broker offers lower spreads for Icelandic traders? +
Can Icelandic traders use MetaTrader platforms? +
Final Verdict - Iceland 2026
XM Group wins overall
After comparing 12 categories, XM Group comes out ahead for most Iceland traders.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of July 2026.
