IC Markets vs FXTM: Which Broker Suits China Traders Best?
Which broker is better for China traders in 2026? Expert analysis across 12 categories.
For China retail traders navigating the forex market, choosing between IC Markets and FXTM is a pivotal decision. IC Markets, with a score of 4.8/5, is renowned for its ultra-low spreads (from 0.0 pips) and institutional-grade execution, appealing to scalpers and algorithmic traders. FXTM, scoring 4.3/5, offers a more diverse account suite, including cent and fixed spread accounts, alongside extensive educational content. Both brokers welcome Chinese clients and accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT, making deposits seamless. However, they operate under offshore regulators (e.g., FSA, FSC, CySEC) and are not directly overseen by the local financial regulator. This comparison delves into trading costs, platforms, regulation, and deposit methods tailored to China's unique trading environment, helping you pick the right broker for your strategy.
| 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 |
When comparing trading costs, IC Markets clearly leads for China traders. Its Raw Spread account offers spreads from 0.0 pips with a $3.50 commission per lot round-turn, ideal for high-volume scalpers. FXTM's Standard account has spreads from 1.3 pips with no commission, while its ECN account starts at 0.0 pips but charges a higher commission of $4 per lot. For a China trader executing 10 lots daily, IC Markets saves approximately $5–10 per day in costs. Both brokers offer competitive swap rates, but IC Markets' lower spreads make it the cost-effective choice for frequent traders.
| 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 |
|---|---|---|
| China (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 provide MetaTrader 4 (MT4) and MT5, the dominant platforms among China traders. IC Markets also offers cTrader, a modern platform with advanced charting and depth of market, popular among scalpers. FXTM provides WebTrader and mobile apps with integrated copy trading. For China traders needing low latency and fast execution, IC Markets' cTrader and dedicated servers are superior. FXTM's platforms are user-friendly and include more built-in educational tools, suiting beginners. Both support automated trading via Expert Advisors (EAs) and VPS hosting for uninterrupted trading.
| 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 boasts an average execution speed of under 40 milliseconds, with no requotes and deep liquidity from top-tier banks. FXTM's execution averages around 60–80 milliseconds, with occasional slippage during volatile news events. For China traders using scalping or EA strategies, IC Markets' superior execution minimizes latency and slippage, enhancing profitability. FXTM's execution is reliable for swing traders but less optimal for high-frequency trading.
| 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 Financial Services Authority (FSA) in Seychelles, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). FXTM holds licenses from the FSC (Mauritius), CySEC, and the FCA (UK, for EU clients). For China traders, neither broker is directly supervised by the local financial regulator, meaning client funds are held in segregated accounts under offshore jurisdictions. This lack of local oversight requires due diligence, but both brokers have strong reputations and transparent operations. China traders should verify the specific entity they open an account with (e.g., IC Markets' Seychelles entity) to understand protection limits.
| 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 |
Depositing and withdrawing funds is straightforward for China traders at both brokers. IC Markets and FXTM support Bank Transfer, Skrill, Neteller, and USDT, ensuring fast and accessible transactions. USDT deposits are processed instantly with no fees, ideal for traders using crypto. Skrill and Neteller transactions are also instant but may incur small fees (1–2%). Bank Transfers take 1–3 business days and are free for deposits but may have withdrawal fees (e.g., $20 for IC Markets). FXTM offers local Chinese bank transfer options for added convenience. Minimum deposits are $200 for IC Markets and $10 for FXTM (on certain accounts), making FXTM more accessible for small-scale traders. Withdrawals are processed within 24 hours for e-wallets and crypto, while bank transfers take longer.
| 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 Muslim traders in China, in compliance with Sharia law. IC Markets provides swap-free accounts on all account types (Standard, Raw Spread, cTrader) with no additional fees, though positions held beyond a certain period may incur a charge. FXTM offers Islamic accounts on its Standard and ECN accounts, with a similar policy. Both require a declaration of faith and are available upon request. For China's Muslim retail traders, this ensures they can trade without interest (Riba) while enjoying the same trading conditions as standard accounts.
| 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 a dedicated team for Chinese clients. FXTM provides 24/5 support in multiple languages, including Mandarin, with live chat, email, and callback options. Both have comprehensive FAQs and knowledge bases. IC Markets' support is faster and more responsive, especially during Asian trading hours, while FXTM excels in educational support with webinars and tutorials. For China traders needing quick issue resolution, IC Markets is slightly better.
| 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 scalper or high-frequency trader needing ultra-low spreads and fast execution.
- Prefer cTrader or advanced charting tools for technical analysis.
- Trade large volumes and want lower commission costs per lot.
- Need 24/7 customer support and VPS hosting for automated trading.
Choose FXTM if you...
- Are a beginner needing educational resources and demo accounts.
- Want a cent account or fixed spreads for predictable costs.
- Prefer a broker with strong copy trading and social trading features.
- Have a small starting capital (min $10 deposit) and want flexible account types.
For China retail traders, IC Markets is the superior choice due to its lower spreads, faster execution, and higher overall score (4.8 vs 4.3). It excels in cost efficiency and platform variety, making it ideal for active traders and scalpers. FXTM remains a strong contender for beginners and those seeking educational support or a cent account. Both accept Bank Transfer, Skrill, Neteller, and USDT, ensuring easy funding. However, since neither is regulated by the local financial regulator, traders should prioritize fund security and choose the entity with the most favorable terms. Ultimately, IC Markets offers better value for experienced traders, while FXTM suits those starting their forex journey.