IC Markets vs FXTM for Paraguay Traders (2026)
Which broker is better for Paraguay traders in 2026? Expert analysis across 12 categories.
For Paraguay traders looking to enter the global forex market, choosing between IC Markets and FXTM is a critical decision. Both brokers are well-established and accept clients from Paraguay, offering local payment methods like Bank Transfer, Skrill, Neteller, and USDT. IC Markets holds a higher overall rating of 4.8/5, praised for its ultra-low spreads and rapid execution, ideal for retail traders who trade frequently. FXTM, with a 4.3/5 score, is known for its educational tools and flexible account types, including a low minimum deposit of just $10. Paraguay’s trading environment is shaped by a growing interest in forex, and both brokers provide access to major markets via MetaTrader platforms. This comparison will help you decide which broker aligns best with your trading style, budget, and local needs in Paraguay.
| 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 |
Spread costs directly impact your profitability, especially for Paraguay traders who may trade in smaller volumes. IC Markets offers spreads from 0.0 pips on its Raw Spread account, with a commission of $3.50 per lot per side, making it highly competitive for scalpers and day traders. FXTM’s spreads start from 0.1 pips on its ECN account, with a similar commission structure. For a standard lot trade on EUR/USD, IC Markets costs about $7 per round turn, while FXTM averages $9–$10. Over 100 trades per month, this difference can save Paraguay traders $200–$300 in costs. If you trade high frequency, IC Markets is the more cost-effective choice.
| 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 |
|---|---|---|
| Paraguay (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 most popular platforms among Paraguay traders due to their reliability and automation capabilities. IC Markets also provides cTrader for those seeking advanced charting and order management, while FXTM offers a proprietary web platform and mobile app. For Paraguay traders with limited internet bandwidth, IC Markets’ cTrader is lightweight and efficient. FXTM’s educational resources, including webinars and tutorials, are beneficial for beginners. Overall, IC Markets has a slight edge for experienced traders needing advanced tools, while FXTM suits those who prefer a user-friendly interface.
| 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 lightning-fast execution, with average speeds under 40 milliseconds on its MetaTrader servers. FXTM’s execution averages around 50–60 milliseconds, which is still competitive. For Paraguay traders using automated strategies or scalping, IC Markets’ lower latency and minimal slippage provide a clear performance edge. Both brokers use ECN/STP models, ensuring no requotes and fair order execution.
| 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), ensuring client fund segregation and negative balance protection. FXTM is regulated by the Financial Conduct Authority (FCA) in the UK, CySEC, and the Financial Sector Conduct Authority (FSCA) in South Africa. For Paraguay traders, these international regulations offer a safety net, though local financial regulator does not directly oversee these brokers. Both brokers are considered reputable, but IC Markets’ ASIC regulation is often viewed as stricter. Always verify the specific entity you are trading with, as terms may vary by region.
| 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 |
Paraguay traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and FXTM. IC Markets supports additional methods like credit/debit cards and PayPal, with a minimum deposit of $200. FXTM has a lower minimum deposit of $10, making it more accessible for beginners. Withdrawals are processed within 1–2 business days for e-wallets and 3–5 days for bank transfers. IC Markets charges no fees on deposits or withdrawals, while FXTM may apply a small fee for certain methods like bank transfers. USDT deposits are particularly useful for Paraguay traders seeking speed and low costs. Both brokers process withdrawals in USD, which is convenient for Paraguay’s dollar-based economy.
| 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 Paraguay Muslim traders who require Sharia-compliant trading. IC Markets provides swap-free accounts on request, but after 30 days, a small administrative fee may apply on positions held overnight. FXTM offers Islamic accounts directly with no extra charges and supports all account types. For Paraguay traders, FXTM’s policy is more straightforward and cost-effective for long-term positions. IC Markets’ Islamic accounts are better suited for short-term trading where swap fees are minimal. Always confirm eligibility and terms with customer support before opening an Islamic account.
| 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 response times under 5 minutes. FXTM provides multilingual support in English and Spanish, which is beneficial for Paraguay traders who prefer Spanish. Both brokers have extensive FAQ sections and educational resources. IC Markets’ support is slightly faster for technical issues, while FXTM excels in account-related queries. For Paraguay traders, FXTM’s Spanish support is a notable advantage.
| 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 trader seeking ultra-tight spreads from 0.0 pips
- Trade high volumes and need fast execution under 40 ms
- Prefer advanced platforms like cTrader alongside MetaTrader
- Want a broker with strong ASIC regulation and no deposit fees
Choose FXTM if you...
- Are a beginner with a small starting capital (from $10)
- Need extensive educational resources in Spanish
- Require an Islamic account with no extra fees
- Prefer a user-friendly platform with local support
For Paraguay traders, IC Markets is the superior choice for cost-conscious, high-frequency traders due to its lower spreads, faster execution, and strong regulatory oversight. FXTM is a solid alternative for beginners and Muslim traders seeking Islamic accounts, with a lower minimum deposit and Spanish support. Both brokers accept local payments like Bank Transfer, Skrill, Neteller, and USDT, and comply with international standards. While Paraguay’s local financial regulator does not directly oversee these brokers, their global licenses provide adequate protection. Ultimately, IC Markets (4.8/5) edges out FXTM (4.3/5) for most retail traders in Paraguay, but your final choice should align with your trading volume, experience, and specific needs.