IC Markets vs FXTM for Brazil Traders (2026)
Which broker is better for Brazil traders in 2026? Expert analysis across 12 categories.
Brazil traders seeking a reliable forex broker often compare IC Markets and FXTM, two globally recognized brands with strong appeal in the Brazilian market. IC Markets, rated 4.8/5, is known for its ultra-tight spreads and institutional-grade execution, making it a top choice for active traders. FXTM, rated 4.3/5, offers a more educational approach with robust support for beginners. Both brokers accept Brazilian clients and support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, ensuring easy deposits and withdrawals in USD. With the local financial regulator overseeing international brokers, Brazilian traders can choose based on their trading style—IC Markets for cost efficiency or FXTM for comprehensive learning tools. This comparison covers spreads, platforms, regulation, and deposit options tailored to Brazil.
| 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 Brazil traders, trading costs are a critical factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.50 commission per lot, resulting in total costs as low as $3.50 per round turn. FXTM’s Standard account has spreads from 1.0 pips with no commission, costing about $10 per lot. For a Brazilian trader executing 50 lots per month, IC Markets saves approximately $325 in spreads. While FXTM’s zero-commission model appeals to beginners, high-volume traders in Brazil benefit significantly from IC Markets’ lower costs.
| 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 |
|---|---|---|
| Brazil (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, popular among Brazil traders for their advanced charting and automated trading. IC Markets also provides cTrader, a platform favored for its depth of market and fast execution, ideal for scalpers. FXTM offers its proprietary FXTM Trader app for mobile trading, which is user-friendly for beginners. Both support VPS hosting for Brazil traders using Expert Advisors, ensuring low latency. IC Markets’ cTrader gives an edge for experienced traders, while FXTM’s app simplifies trading on the go.
| 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 offers raw spreads and ECN execution with average execution speeds under 40ms, ideal for scalpers and high-frequency traders in Brazil. FXTM uses a hybrid model with dealing desk and no-dealing desk execution, resulting in speeds around 100ms. For Brazil traders trading major pairs like USD/BRL, IC Markets’ lower slippage and faster fills reduce costs. FXTM’s execution is reliable but slower, suiting day traders rather than scalpers.
| 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 ASIC (Australia) and CySEC (Cyprus), while FXTM holds licenses from FCA (UK), CySEC, and FSC (Mauritius). For Brazil traders, neither broker is directly overseen by the local financial regulator, but both comply with international standards, offering negative balance protection and segregated accounts. This regulatory framework provides a safety net for Brazilian clients, though traders should verify each broker’s license for their region. IC Markets’ ASIC regulation is considered stricter, enhancing trust.
| 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 |
Brazil traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets has a minimum deposit of $200, while FXTM requires only $10, making FXTM more accessible. Deposits via Skrill and Neteller are instant, and USDT (Tether) offers a crypto alternative with low fees. Withdrawals are processed within 1-2 business days for e-wallets and USDT, while Bank Transfer may take 3-5 days. IC Markets charges no deposit fees, but FXTM may apply a small fee for certain methods. Both brokers support BRL conversion via their payment partners, though USD is the base currency.
| 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 |
Islamic (swap-free) accounts are available at both brokers for Brazil Muslim traders. IC Markets offers Islamic accounts on its Standard and Raw Spread accounts, with no swap fees on overnight positions, though some instruments may incur a small administrative fee after a holding period. FXTM provides swap-free accounts upon request, with restrictions on certain forex pairs and commodities. Both brokers require proof of Muslim faith for eligibility. For Brazilian traders seeking Sharia-compliant trading, IC Markets’ policy is more flexible with fewer restrictions.
| 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 |
Customer support is available 24/5 via live chat, email, and phone for both brokers. IC Markets offers multilingual support including Portuguese, which is a major advantage for Brazil traders. FXTM also provides Portuguese support but with slightly longer response times during peak hours. Both brokers have comprehensive FAQ sections on their websites. IC Markets’ faster response and dedicated Brazilian account managers give it an edge.
| 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 a high-volume trader needing tight spreads from 0.0 pips.
- Prefer ECN execution for scalping or algorithmic trading.
- Want access to cTrader for advanced charting.
- Need Portuguese-speaking support and fast withdrawals via USDT.
Choose FXTM if you...
- Are a beginner trader seeking educational resources and demo accounts.
- Have a small account (minimum $10 deposit) to start trading.
- Value a user-friendly mobile app for trading on the go.
- Prefer zero-commission accounts with simpler cost structures.
For Brazil traders, IC Markets (4.8/5) is the superior choice for cost-conscious, active traders who prioritize low spreads and fast execution. Its support for Bank Transfer, Skrill, Neteller, and USDT ensures flexible deposits, while its ASIC regulation adds trust. FXTM (4.3/5) is better for beginners or those with smaller budgets, thanks to its low minimum deposit and educational tools. Both brokers are legally accessible in Brazil, but consider your trading volume and experience. IC Markets wins on value, FXTM on accessibility. Always verify the local financial regulator’s guidelines for international brokers.