FXCM vs IC Markets: Malta Broker Comparison 2026

For Malta traders, trading costs are a key differentiator. IC Markets offers Raw Spread accounts with spreads from 0.0 pips and a $3.5 commission per lot per side, making it ideal for high-frequency scalping. FXCM has standard spreads starting at 1.3 pips with no commission, which is costlier for active traders. Over 100 lots per month, IC Markets saves the average Malta trader approximately $1,200 in spreads compared to FXCM. Both brokers offer USD-denominated accounts, and the lower cost of IC Markets is especially beneficial for Maltese retail traders who trade major pairs like EUR/USD and GBP/USD frequently.

Both brokers provide MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are the preferred platforms for Malta traders. IC Markets also offers cTrader, a platform known for its advanced charting and fast execution, popular with scalpers and algorithmic traders. FXCM provides Trading Station, its proprietary platform, but lacks cTrader. For Maltese traders who value custom indicators and EAs, MT4/MT5 on both brokers work well. However, IC Markets’ additional cTrader option gives it an edge for those seeking depth of market and Level II pricing.

IC Markets is known for its ultra-fast execution, with average trade execution under 40ms, and uses Equinix NY4 data centres for minimal latency. FXCM also offers competitive execution but averages around 200ms. For scalpers and high-frequency traders in Malta, IC Markets’ speed is a clear advantage. Both brokers use No Dealing Desk (NDD) execution on major accounts, but IC Markets’ raw spreads and faster fills make it the preferred choice for active retail traders.

Regulation is critical for Malta traders. FXCM is regulated by the Malta Financial Services Authority (MFSA), offering local client protection including negative balance protection and access to the Malta Investor Compensation Scheme. IC Markets is regulated by CySEC (Cyprus) and other international bodies like ASIC and FCA, but does not hold an MFSA licence. While CySEC also provides negative balance protection and investor compensation (up to €20,000), Malta traders may feel more secure with a direct MFSA-regulated broker. Both brokers segregate client funds, but FXCM’s local MFSA oversight provides an extra layer of comfort for conservative Maltese traders.

Malta traders can fund accounts at both brokers using Bank Transfer, Skrill, Neteller, and USDT TRC20 – all commonly used locally. FXCM supports EUR and USD accounts, with bank transfers taking 1-2 business days and e-wallets instant. IC Markets also accepts these methods plus PayPal and credit/debit cards. For USDT TRC20 deposits, both brokers process transactions within minutes with low network fees. Withdrawals at IC Markets are generally faster (same day for e-wallets), while FXCM may take 1-2 business days for Skrill/Neteller. Minimum deposits are $50 for both, making them accessible to retail traders in Malta. No deposit fees are charged by either broker, but bank transfer fees may apply from the local bank.

Both brokers offer Islamic (swap-free) accounts for Maltese Muslim traders who require compliance with Sharia law. FXCM provides swap-free accounts on request, with no overnight interest charges on positions held beyond one day. IC Markets also offers Islamic accounts with the same feature, but note that holding positions over weekends may incur a small administrative fee on certain instruments. Both brokers require verification of status, and accounts cannot be used for hedging. For Malta traders seeking a straightforward swap-free experience, both options are viable, though IC Markets’ weekend fees could be a small disadvantage.

IC Markets offers 24/7 multilingual customer support via live chat, email, and phone, with a strong reputation for quick response times (under 30 seconds on live chat). FXCM provides support in English and several European languages, but live chat is available only during market hours (Monday to Friday). For Malta traders in the CET time zone, IC Markets’ round-the-clock support is more convenient, especially for after-hours trading issues.