IC Markets vs FXTM 2026: A Complete Comparison for Belgium Traders
Which broker is better for Belgium traders in 2026? Expert analysis across 12 categories.
Belgium traders seeking a reliable forex broker often compare IC Markets and FXTM, two globally recognized brands. IC Markets, with a stellar 4.8/5 rating, is known for its ultra-low spreads and institutional-grade execution, making it a top choice for active traders. FXTM, scoring 4.3/5, offers a more diverse range of account types and extensive educational materials, appealing to both beginners and experienced traders. Both brokers accept Belgium clients and support popular local payment methods such as Bank Transfer, Skrill, Neteller, and USDT. However, they are not regulated by the local financial regulator (FSMA), so traders must conduct due diligence. This comparison examines key factors like trading costs, platforms, regulation, and deposit options to help you decide which broker better suits your trading style in the Belgian market.
| Instrument | IC Markets | FXTM | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | FXTM |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | FXTM |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | FXTM |
| Standard acc spread | from 1.0 pips | from 0.8 pips | FXTM |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | FXTM |
| Inactivity fee | ✓ | ✓ | Tie |
For Belgium traders, trading costs are a critical factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side, while FXTM's Standard account spreads start from 1.0 pips with no commission. For high-volume traders, IC Markets is more cost-effective, especially when trading EUR/USD or other major pairs. FXTM's Zero account has spreads from 0.0 pips but charges a commission. Overall, IC Markets provides lower total costs for active Belgium traders, while FXTM may suit those who prefer no-commission trading with slightly wider spreads.
| Account Type | IC Markets | FXTM |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✗ |
| Copy trading | ✗ | ✓ |
| VPS trading | ✓ | ✓ |
| Min deposit | $200 | $10 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | IC Markets | FXTM |
|---|---|---|
| Belgium (offshore) | Up to 1:500 | Up to 1:2000 |
| Forex major pairs | 1:500 | 1:2000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | IC Markets | FXTM | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | FXTM |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | IC Markets | FXTM |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers offer MetaTrader 4 and MetaTrader 5, the industry-standard platforms favored by Belgium traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform known for its deep liquidity and fast execution, ideal for scalpers. FXTM offers its proprietary FXTM Trader app, which is user-friendly for mobile traders. For Belgium traders who prioritize speed and customization, IC Markets has an edge, while FXTM’s platforms are more beginner-focused.
| Factor | IC Markets | FXTM | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | FXTM |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is known for its ultra-fast execution speeds of around 40ms, thanks to its Equinix NY4 data center and no-dealing-desk model. FXTM also offers fast execution but may have slightly higher latency. For Belgium traders who scalp or trade news events, IC Markets provides superior execution quality, while FXTM is adequate for most retail strategies.
| Safety Factor | IC Markets | FXTM |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Reg number | #335692 | #600475 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FXTM is regulated by CySEC, the Financial Conduct Authority (FCA) in the UK, and the Financial Sector Conduct Authority (FSCA) in South Africa. Neither broker is regulated by the Belgian Financial Services and Markets Authority (FSMA). Belgium traders should note that while both brokers offer client fund segregation and negative balance protection, they must comply with Belgian tax laws and report any trading income.
| Payment Method | IC Markets | FXTM |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Cards instant (up to 2h EU); e-wallets instant-2h; bank/local transfer 1 business day; crypto up to 24h |
| Min withdrawal | $50 | $50 |
Belgium traders can fund their accounts at both IC Markets and FXTM using Bank Transfer, Skrill, Neteller, and USDT. IC Markets has a minimum deposit of $200 for all methods, while FXTM requires only $10 for the Standard account (except USDT, which may have higher minimums). Deposits via Skrill, Neteller, and USDT are instant, while bank transfers take 1-3 business days. Withdrawals are processed within 24 hours for e-wallets and USDT at both brokers, with no fees from the broker (bank charges may apply for wire transfers). This flexibility makes both brokers accessible to Belgium traders.
| Islamic Account Feature | IC Markets | FXTM |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | — |
| How to apply | Contact support | Contact support |
Both IC Markets and FXTM offer Islamic (swap-free) accounts for Belgium Muslim traders. These accounts comply with Sharia law by eliminating interest charges on overnight positions. IC Markets provides swap-free accounts on all account types, while FXTM offers them on Standard and Shares accounts. Traders must request these accounts through customer support and may be subject to a fee after a holding period (e.g., 10 days for FXTM). This makes both brokers suitable for Muslim traders in Belgium.
| Support Feature | IC Markets | FXTM | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 customer support via live chat, email, and phone, with multilingual agents including English and Dutch. FXTM also provides 24/5 support with live chat, email, and phone, and offers support in multiple languages including French and Dutch. For Belgium traders, FXTM’s support in local languages is a slight advantage, but IC Markets’ 24/7 availability is better for active traders.
| Mobile Feature | IC Markets | FXTM | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | IC Markets |
| Google Play rating | 4.3★ | 4.2★ | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | IC Markets | FXTM | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | IC Markets |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
| Beginner resources | Excellent | Basic | IC Markets |
Choose IC Markets if you...
- Are an active or high-volume trader seeking ultra-low spreads and fast execution.
- Prefer using cTrader or MetaTrader platforms for advanced trading.
- Need 24/7 customer support and a wide range of deposit options including USDT.
- Want a swap-free account with no extra fees for Islamic trading.
Choose FXTM if you...
For Belgium traders, IC Markets is the better choice overall, with a higher rating (4.8 vs 4.3), lower trading costs, and superior execution. It is ideal for active and professional traders who prioritize speed and cost-efficiency. FXTM, with its lower minimum deposit and educational tools, is more suitable for beginners or those who prefer a wider range of account types. Both brokers support local payments like Bank Transfer, Skrill, Neteller, and USDT, and offer Islamic accounts. However, neither is regulated by the local financial regulator (FSMA), so traders should ensure compliance with Belgian tax laws. Ultimately, your choice depends on your experience level and trading volume.