IC Markets vs XM Group: In-Depth Comparison for Bulgaria Traders (2026)
Which broker is better for Bulgaria traders in 2026? Expert analysis across 12 categories.
For Bulgaria traders seeking a reliable forex broker in 2026, IC Markets and XM Group are two of the most popular choices, scoring 4.8/5 and 4.7/5 respectively. Both brokers accept Bulgarian clients and support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals convenient. IC Markets is known for its ultra-low spreads and high-speed execution, ideal for scalpers and algorithmic traders. XM Group, on the other hand, offers a more user-friendly platform with extensive educational resources and a lower minimum deposit of just $5. While neither broker is directly regulated by the Bulgarian Financial Supervision Commission (FSC), they operate under reputable international licenses (CySEC, ASIC) that ensure client fund safety. This comparison dives into trading costs, platforms, regulation, and payment options tailored specifically to Bulgaria traders, helping you choose the right broker for your trading style.
| 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 |
When comparing trading costs for Bulgaria traders, IC Markets offers a clear advantage with spreads starting from 0.0 pips on its Raw Spread account, plus a $7 commission per lot round turn. XM Group’s standard account has spreads from 1.0 pips with no commission, but its Zero account starts from 0.6 pips with a $5 commission. For high-volume traders trading EUR/USD or USD/BGN, IC Markets is more cost-effective, especially when scalping or using automated strategies. XM Group’s slightly higher spreads may be acceptable for beginners or lower frequency traders. Both brokers offer competitive swap rates, but IC Markets’ lower overall cost structure benefits active Bulgaria traders.
| 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 |
|---|---|---|
| Bulgaria (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 | ✓ | ✓ |
IC Markets provides MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, all with advanced charting tools and automated trading support. XM Group offers MT4 and MT5, plus its proprietary XM WebTrader. For Bulgaria traders, platform choice depends on experience: MT4 is ideal for beginners with its simple interface, while cTrader offers superior order execution for scalpers. XM Group’s platforms are more intuitive with built-in educational tools, but IC Markets’ cTrader provides deeper customization and faster trade execution, favored by professional traders.
| 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 speeds, averaging under 40ms on cTrader and MT4, with no requotes or dealing desk intervention. XM Group also offers fast execution with an average of 50ms, but may experience slippage during volatile markets. For Bulgaria traders engaged in scalping or high-frequency trading, IC Markets’ superior execution quality ensures better trade fills and lower slippage. XM Group is still reliable for standard trading but may not match IC Markets in speed.
| 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 the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). XM Group is regulated by CySEC, the Financial Conduct Authority (FCA) in the UK, and ASIC. For Bulgaria traders, CySEC regulation ensures compliance with EU MiFID II standards, including negative balance protection and client fund segregation. Neither broker is regulated by the Bulgarian Financial Supervision Commission (FSC), but they adhere to strict EU investor compensation schemes. This provides Bulgaria traders with a high level of security, though they should verify the broker’s licensing details on their websites.
| 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 |
Both IC Markets and XM Group support multiple deposit and withdrawal methods for Bulgaria traders, including Bank Transfer, Skrill, Neteller, and USDT. IC Markets has a minimum deposit of $200 for bank transfers and e-wallets, while XM Group offers a lower minimum of just $5 for all methods. Deposits via Skrill and Neteller are instant at both brokers, while USDT deposits (Tether) are processed within minutes. Bank transfers may take 1-3 business days. Withdrawals are free at both brokers, with e-wallet withdrawals processed within 24 hours. XM Group also supports local Bulgarian bank transfers for added convenience. Both brokers do not charge deposit fees, but your bank or payment provider may impose charges.
| 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 |
IC Markets and XM Group both offer Islamic (swap-free) accounts for Bulgaria Muslim traders who require Sharia-compliant trading. These accounts eliminate overnight interest (swap) charges on positions held beyond a single day. At IC Markets, you can request a swap-free account via customer support, and it’s available for all account types. XM Group provides Islamic accounts automatically upon registration for eligible clients. Both brokers ensure that no hidden fees apply, making them suitable for Bulgaria Muslim traders seeking ethical trading options.
| 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 24/7 customer support via live chat, email, and phone, with English as the primary language. XM Group provides multilingual support, including Bulgarian, with 24/5 availability via live chat, phone, and email. For Bulgaria traders, XM Group’s Bulgarian-language support is a significant advantage, offering faster resolution for local queries. IC Markets’ support is responsive but lacks Bulgarian language options, which may be a barrier for some.
| 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 scalper or high-volume trader needing ultra-low spreads and fast execution
- Prefer advanced platforms like cTrader for algorithmic trading
- Trade large lot sizes and want to minimize costs per trade
- Are comfortable with English-only support and higher minimum deposits ($200)
Choose XM Group if you...
- Are a beginner or casual trader with a smaller account (min $5 deposit)
- Need Bulgarian-language customer support for easier communication
- Value educational resources and a user-friendly platform
- Prefer a broker with a wide range of local payment methods including Bank Transfer
For Bulgaria traders in 2026, both IC Markets and XM Group are excellent choices, but the best option depends on your trading style and priorities. IC Markets (4.8/5) is ideal for active traders seeking the lowest spreads and fastest execution, with support for USDT and e-wallets like Skrill and Neteller. XM Group (4.7/5) shines for beginners and those who value localized support in Bulgarian and a lower minimum deposit of $5. Both brokers accept Bank Transfer and offer Islamic accounts. While neither is regulated by the Bulgarian Financial Supervision Commission (FSC), their CySEC and ASIC licenses provide strong investor protection. Ultimately, IC Markets wins on cost and speed, while XM Group wins on accessibility and local support.