IC Markets vs RoboForex – Iceland Comparison 2026

For Icelandic traders, the cost of each trade directly impacts long-term profitability. IC Markets offers a Raw Spread account with spreads from 0.0 pips on major pairs like EUR/USD, plus a commission of usually US$7 per standard lot. This results in a total trading cost of around 0.6 to 0.8 pips per round turn. By contrast, RoboForex's Standard account earns revenue through spreads of around 1.3 pips and no commission. On a monthly trading volume of 50 lots, IC Markets is almost always cheaper despite the commission. Icelandic traders who trade larger volumes should therefore consider the Raw Spread account, while those who prefer a simple pricing model may choose RoboForex, but must accept higher overall costs.

Platform reliability is critical for Iceland, where stable connectivity to European servers matters. IC Markets supports MetaTrader 4 and 5, as well as cTrader, giving Icelandic traders a choice of a unified trading experience across desktop, web and mobile. The cTrader platform is particularly appreciated for its advanced charting and price ladder. RoboForex offers MetaTrader 4 and 5, plus WebTrader and the CopyFX social trading platform. For Icelandic traders, both brokers provide robust mobile apps, but IC Markets has a slight edge in execution speed and platform updates. New traders prefer CopyFX to follow established traders, while more experienced Icelanders tend to favor IC Markets’ cTrader environment for manual and algorithmic trading.

Execution speed and order transparency are a top concern for Icelandic traders, particularly those who scalp or trade during the volatile London/New York overlap. IC Markets uses STP/NDD execution with a 40ms average speed on major pairs, ensuring minimal slippage. RoboForex also utilises STP execution, but its reported average is closer to 200ms, though still acceptable for most swing traders. At the same time, IC Markets does not interfere with trade execution, while RoboForex sometimes re-quotes under certain conditions. Icelandic traders seeking high-frequency strategies will appreciate IC Markets’ faster order routing and depth of market data.

Icelandic traders are under the supervision of the Financial Supervisory Authority of the Central Bank of Iceland, but neither IC Markets nor RoboForex holds a local licence. IC Markets is authorised and regulated in Australia by ASIC and in the UK by the FCA, giving it a higher regulatory standing. RoboForex is licensed by the International Financial Services Commission of Belize, which provides limited investor protection. For an Icelander, this means IC Markets is subject to mandatory client money segregation and periodic audits, while RoboForex follows the lighter framework of a Caribbean offshore regulator. Before opening an account, Icelandic traders should also assess how the local financial regulator views offshore brokers and ensure their chosen entity does not cause tax or legal complications. Both brokers require a valid Icelandic ID and proof of residence during onboarding.

Depositing funds with either broker is straightforward for Icelanders, thanks to support for Bank Transfer, Skrill, Neteller and USDT TRC20. Bank Transfer is a common choice for larger sums, but it can take 2–5 business days. Skrill and Neteller provide instant deposits and withdrawals, widely used in Iceland for convenience. For those who prefer virtual currency, USDT TRC20 offers near-instant processing with no bank involvement. When a deposit in a local currency is made, the platform converts to USD automatically at the broker’s exchange rate. Icelandic traders should factor in conversion fees from ISK to USD, as their trading account is USD-denominated. Withdrawal requests are typically processed within 24 hours at both brokers, though bank transfers may take a few more days. IC Markets charges no deposit fees on these methods, while RoboForex also waives fees on most electronic wallets, but both may apply an incoming bank transfer fee if it is sent as a SWIFT payment.

For the small Muslim community in Iceland, swap-free accounts are a necessity. IC Markets offers Islamic accounts across all of its account types, including Raw Spread, with zero swap interest charged on overnight positions. RoboForex also provides a swap-free option for its Standard and Pro accounts. Neither broker requires a longer waiting period for activation as long as the trader's country is not restricted. Icelandic Muslim traders have the option to open a swap-free account with either broker and still benefit from the same spreads and execution methods. It is always recommended to verify the terms with the broker directly, as some instruments, such as cryptocurrencies or minor pairs, may still have swap fees if an Islamic account is used.

Customer support is vital for Icelanders who may need assistance outside the local trading hours. Both brokers provide 24/7 live chat and email support, so Icelandic traders can reach a representative at any time. IC Markets offers phone support and a multilingual team, though Icelandic language is not covered. RoboForex also supports live chat in English and Russian, but with slightly longer response times during peak hours. For Iceland, the time zone (GMT) is fully covered by both brokers’ 24/5 and 24/7 service schedules, making it easy to resolve issues in the evening after work.