IC Markets vs IG for New Zealand Traders: 2026 Comparison

For New Zealand traders, trading costs are a key differentiator. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $7 round-turn commission per lot. IG’s standard spreads start at 0.8 pips for EUR/USD with no commission, but costs add up for high-frequency traders. On a $10,000 monthly volume, IC Markets can save up to $50 in spreads compared to IG. IC Markets also has lower swap rates, beneficial for Kiwis holding positions overnight. Overall, IC Markets is more cost-effective for active traders.

IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all popular among New Zealand traders for advanced charting and automated trading. IG offers its proprietary web platform and mobile app, plus MetaTrader 4 for forex. IG’s platform is more intuitive for beginners, while IC Markets’ cTrader is preferred for scalping due to its depth of market and fast execution. Both support NZD accounts, reducing currency conversion fees for Kiwis.

IC Markets boasts an average execution speed of 40ms, ideal for scalpers and algorithmic traders in New Zealand. IG’s execution is slightly slower at around 100ms but still reliable for most retail traders. IC Markets uses No Dealing Desk (NDD) execution with liquidity from top banks, while IG operates a hybrid model. For Kiwis trading volatile sessions, IC Markets offers less slippage.

Both IC Markets and IG are regulated by the New Zealand Financial Markets Authority (FMA), providing local oversight and client fund segregation. This means Kiwi traders’ deposits are held in trust accounts and protected from broker insolvency. IG also holds licenses from the UK FCA and Australian ASIC, adding extra credibility. IC Markets is regulated by the Australian ASIC and Cyprus CySEC. For New Zealanders, FMA regulation ensures compliance with local financial laws and dispute resolution via the Financial Services Complaints Ltd (FSCL).

New Zealand traders can deposit using Bank Transfer, Skrill, Neteller, and USDT with both brokers. IC Markets processes USDT deposits via TRC20 or ERC20 networks, with no fees and instant credit. IG also supports USDT but may take up to 24 hours to confirm. Bank transfers are free but take 1-2 business days. Skrill and Neteller deposits are instant with no fees from the broker, though e-wallet providers may charge small conversion fees. Withdrawals are processed within 24 hours for e-wallets and 1-3 days for bank transfers. Both brokers offer free withdrawals, but IG charges a $10 fee for international wire transfers. For USDT, IC Markets has a minimum deposit of $50, while IG starts at $100.

Both IC Markets and IG offer Islamic (swap-free) accounts for New Zealand Muslim traders, in compliance with Sharia law. These accounts do not accrue or pay swap interest on overnight positions. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard. IG offers Islamic accounts on its standard CFD accounts, but not on share dealing accounts. To open, simply request during registration or contact support. Both brokers require you to confirm your Muslim faith and may limit the number of swap-free days for certain instruments.

IC Markets offers 24/7 multilingual support via live chat, email, and phone, with a dedicated team for New Zealand traders. IG provides 24/5 support in English, with phone lines open during NZ business hours. IC Markets’ live chat is faster, with average response times under 30 seconds, while IG may take 2-3 minutes. Both have comprehensive FAQ sections and knowledge bases tailored to local clients.