IC Markets vs FXTM: Which Broker Wins for Uzbekistan Traders in 2026?
Which broker is better for Uzbekistan traders in 2026? Expert analysis across 12 categories.
Uzbekistan traders seeking a reliable forex broker face a choice between two industry leaders: IC Markets, rated 4.8/5, and FXTM, rated 4.3/5. Both brokers are regulated by the local financial regulator, ensuring compliance with Uzbekistan’s trading laws. They support popular local payment methods including Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals seamless for Uzbekistani users. IC Markets is renowned for its ultra-low spreads and high-speed execution, ideal for scalpers and algorithmic traders. FXTM, on the other hand, offers a more beginner-friendly experience with extensive educational materials and a wider range of account types. This comparison will help you decide which broker aligns better with your trading style, budget, and goals in the Uzbek market. Whether you are a day trader in Tashkent or a long-term investor, understanding the nuances between these brokers is crucial for maximizing your returns in 2026.
| 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 for Uzbekistan traders, IC Markets has a clear advantage with raw spreads from 0.0 pips on its Raw Spread account, plus a commission of $3.50 per lot per side. FXTM’s standard account offers spreads from 1.3 pips with no commission, but for high-volume traders, IC Markets is cheaper. For example, trading 10 lots of EUR/USD daily, IC Markets costs around $70 in commission, while FXTM’s spread cost would be approximately $130. This difference can significantly impact profitability for active Uzbekistan 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 |
|---|---|---|
| Uzbekistan (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 the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by Uzbekistan traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform favored for its intuitive interface and depth of market. FXTM offers its proprietary FXTM Trader app, which is mobile-friendly and includes educational tools. For Uzbekistan traders who rely on algorithmic trading, IC Markets’ support for multiple APIs gives it an edge.
| 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 uses Equinix NY4 data centers for ultra-low latency execution, with average speeds under 40ms, ideal for Uzbekistan traders using automated strategies. FXTM offers STP execution with speeds around 100ms. IC Markets has no dealing desk intervention, ensuring no requotes, while FXTM may have requotes during volatile markets. This makes IC Markets superior for scalpers and high-frequency traders.
| 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 | ✓ | ✓ |
Both IC Markets and FXTM are regulated by the local financial regulator in Uzbekistan, ensuring they adhere to strict capital adequacy and client fund segregation standards. IC Markets is also regulated by ASIC and CySEC, providing additional layers of oversight. FXTM holds licenses from FCA, CySEC, and FSCA. For Uzbekistan traders, this means your funds are protected, and you have recourse in case of disputes. The local regulator’s oversight adds a layer of trust, especially for retail traders new to forex.
| 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 |
Uzbekistan traders can fund their accounts at both brokers using Bank Transfer, Skrill, Neteller, and USDT. IC Markets requires a minimum deposit of $200, while FXTM starts at $100, making FXTM more accessible for smaller accounts. Deposits via Skrill and Neteller are instant at both brokers, while Bank Transfer may take 1-3 business days. USDT deposits are accepted via TRC20 or ERC20 networks, with IC Markets processing them within minutes. Withdrawals are processed within 24 hours at IC Markets and up to 48 hours at FXTM, with no fees from the broker, though third-party fees may apply for Bank Transfer. Both brokers support local currency conversion to USD automatically.
| 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 |
For Uzbekistan Muslim traders seeking Sharia-compliant trading, both IC Markets and FXTM offer Islamic (swap-free) accounts. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, with no additional fees. FXTM offers Islamic accounts on its Standard and Cent accounts, but not on its ECN account. To open an Islamic account, traders must declare their Muslim faith and agree not to earn or pay interest. Both brokers comply with local financial regulator guidelines, making them suitable for Uzbekistan’s predominantly Muslim population.
| 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 Russian language support, which is widely spoken in Uzbekistan. FXTM provides similar support hours but also has a dedicated Uzbekistan phone line and local representatives. Both brokers have comprehensive FAQ sections. For urgent issues, IC Markets’ faster response times give it a slight 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 seeking ultra-low spreads and commissions.
- Use algorithmic or automated trading strategies requiring fast execution.
- Prefer cTrader platform for its advanced features.
- Need 24/7 support with Russian language assistance.
Choose FXTM if you...
- Are a beginner looking for educational resources and a user-friendly platform.
- Have a smaller trading capital (minimum deposit $100).
- Want a wider range of account types, including Cent and Micro accounts.
- Prefer a broker with local Uzbekistan support and a dedicated phone line.
For Uzbekistan traders, the choice between IC Markets and FXTM depends on your experience and trading volume. IC Markets (4.8/5) is the superior option for active traders who prioritize low costs and fast execution, especially when using USDT or Skrill for deposits. FXTM (4.3/5) is better for beginners or those with smaller capital, thanks to its lower minimum deposit and extensive education. Both brokers are regulated by the local financial regulator, ensuring safety. Ultimately, IC Markets offers better value for high-frequency traders, while FXTM provides a more supportive environment for newcomers. Consider your trading style and budget before deciding.