IC Markets vs XM Group: Which Broker Suits Belarus Traders Best?
Which broker is better for Belarus traders in 2026? Expert analysis across 12 categories.
Belarus traders seeking a reliable forex broker in 2026 face a strong choice between IC Markets (rated 4.8/5) and XM Group (4.7/5). Both platforms are popular among retail traders in Belarus for their robust trading conditions and support for local payment methods like Bank Transfer, Skrill, Neteller, and USDT. IC Markets is known for its ultra-low spreads and fast execution, appealing to scalpers and algorithmic traders. XM Group, meanwhile, offers generous bonuses, extensive educational content, and a lower entry barrier with a $5 minimum deposit. With the Belarusian financial landscape evolving, traders must consider factors like regulation, costs, and platform usability. This comparison will help you decide which broker aligns with your trading goals, whether you prioritize cost efficiency or a supportive trading environment. Both brokers accept Belarusian clients and provide services in English and Russian, making them accessible for local traders.
| Instrument | IC Markets | XM Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $5 | IC Markets |
| Inactivity fee | ✓ | ✓ | Tie |
For Belarus traders, trading costs are a critical factor. 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 ideal for high-volume traders. XM Group’s standard account has spreads starting at 1.0 pips with no commission, while its Zero account offers spreads from 0.0 pips plus a commission of $5 per lot. Over 100 lots, IC Markets saves approximately $150 in combined spread and commission costs compared to XM Group. For day traders and scalpers in Belarus, IC Markets provides a clear cost advantage, but XM Group’s zero-commission model may appeal to those who trade less frequently.
| Account Type | IC Markets | XM Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $200 | $5 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | IC Markets | XM Group |
|---|---|---|
| Belarus (offshore) | Up to 1:500 | Up to 1:500 |
| Forex major pairs | 1:500 | 1:500 |
| 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 | XM Group | 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+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | IC Markets | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers offer the MetaTrader 4 and MetaTrader 5 platforms, which are widely used by Belarus traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform popular for its depth of market and faster order execution, beneficial for scalpers. XM Group offers its own XM WebTrader for browser-based trading. For Belarus traders, the choice comes down to preference: IC Markets’ cTrader offers more flexibility for active traders, while XM Group’s platforms are beginner-friendly with integrated educational tools. Both platforms support mobile trading on iOS and Android.
| Factor | IC Markets | XM Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | XM Group |
| 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 ultra-fast execution with average speeds below 40ms on its Raw Spread account, thanks to Equinix NY4 servers and no dealing desk intervention. XM Group offers execution speeds around 100ms with a market execution model. For Belarus traders who scalp or use automated strategies, IC Markets provides a clear advantage in order execution reliability and minimal slippage. XM Group’s execution is still reliable for most retail traders but may experience slightly higher requotes during volatile markets.
| Safety Factor | IC Markets | XM Group |
|---|---|---|
| Primary regulator | ASIC | ASIC |
| Reg number | #335692 | #443670 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by multiple authorities including ASIC (Australia), CySEC (Cyprus), and the FCA (UK), providing strong client fund segregation and negative balance protection. XM Group is regulated by CySEC, ASIC, and the IFSC (Belize). While neither broker is directly regulated by the Belarusian local financial regulator, they operate legally in Belarus by accepting international clients. For Belarus traders, this means your funds are protected under the regulators’ schemes, but you should verify deposit insurance limits. IC Markets’ multi-regulatory oversight offers a slightly higher level of security, while XM Group’s CySEC regulation ensures compliance with EU standards.
| Payment Method | IC Markets | XM Group |
|---|---|---|
| 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 | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
| Min withdrawal | $50 | $50 |
Belarus traders can fund their accounts at both brokers using Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes deposits instantly for e-wallets and USDT, with no fees, while bank transfers take 1-3 business days. XM Group also supports these methods, with a minimum deposit of $5 for Skrill/Neteller and $50 for bank transfers. USDT deposits are accepted via TRC20 (low fees) or ERC20 networks. Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 2-5 days. IC Markets has a slight edge with faster withdrawal processing for e-wallets. Both brokers do not charge deposit fees, but network fees for USDT may apply.
| Islamic Account Feature | IC Markets | XM Group |
|---|---|---|
| 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 XM Group offer Islamic (swap-free) accounts for Belarus Muslim traders who require Sharia-compliant trading. IC Markets provides swap-free accounts on request, with no interest on overnight positions, but charges an administrative fee after a certain holding period (e.g., 7 days for some instruments). XM Group also offers Islamic accounts with no swap or rollover fees, and no hidden charges, though positions held beyond a certain period may incur a fee. For Belarus traders, XM Group’s policy is slightly more transparent, but both brokers accommodate Islamic trading needs effectively.
| Support Feature | IC Markets | XM Group | 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 customer support 24/7 via live chat, email, and phone, with multilingual agents including Russian. XM Group also provides 24/5 support with live chat, email, and phone, and a dedicated Russian-speaking team. For Belarus traders, language accessibility is good with both brokers. IC Markets’ support is faster for technical issues, while XM Group excels in educational assistance. Response times are under 5 minutes for live chat on both platforms.
| Mobile Feature | IC Markets | XM Group | 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 | XM Group | 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 or scalper needing tight spreads from 0.0 pips.
- Prefer advanced platforms like cTrader alongside MetaTrader.
- Value ultra-fast execution under 40ms for algorithmic trading.
- Want to deposit/withdraw via USDT, Skrill, or Neteller with instant processing.
Choose XM Group if you...
- Are a beginner trader wanting low minimum deposit ($5) and educational resources.
- Prefer zero-commission accounts with spreads from 1.0 pips.
- Need strong customer support in Russian with extensive trading tools.
- Want Islamic accounts with transparent swap-free policies.
For Belarus traders in 2026, both IC Markets and XM Group are excellent choices, but the decision hinges on your trading style. IC Markets (4.8/5) is the superior option for cost-conscious, active traders who benefit from its ultra-low spreads, fast execution, and support for USDT, Skrill, Neteller, and Bank Transfer deposits. XM Group (4.7/5) is better for beginners or those who value educational support and a lower entry barrier. Regulation-wise, both are safe, but IC Markets’ multi-regulatory oversight offers extra security. Consider your volume, preferred platform, and need for Islamic accounts. Ultimately, IC Markets wins for performance, while XM Group wins for accessibility. Test both with demo accounts to see which fits your Belarus trading journey best.