IC Markets vs XM Group 2026: Indonesia Trader Comparison
Which broker is better for Indonesia traders in 2026? Expert analysis across 12 categories.
For Indonesia traders seeking reliable forex brokers in 2026, IC Markets and XM Group are two top-tier choices. IC Markets holds a 4.8/5 rating, while XM Group scores 4.7/5, both excelling in different areas. Indonesia traders face unique challenges like local payment methods and regulatory clarity. IC Markets is known for ultra-low spreads and fast execution, ideal for active traders. XM Group offers a lower minimum deposit of $5 and a wider range of local payment options including Bank Transfer, Skrill, Neteller, and USDT. Both brokers accept Indonesia clients and provide Islamic accounts. This comparison helps you choose based on your trading style, budget, and deposit preferences in Indonesia.
| 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 Indonesia traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side. XM Group's Zero account has spreads from 0.6 pips with a lower commission of $5 per lot. For high-volume traders in Indonesia, IC Markets is cheaper per lot. XM Group's Standard account has spreads from 1.0 pips with no commission, suitable for smaller traders. Both brokers offer competitive costs, but IC Markets wins for scalpers and frequent traders in Indonesia.
| 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 |
|---|---|---|
| Indonesia (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 provide MetaTrader 4 and MetaTrader 5, popular among Indonesia traders for their reliability and advanced tools. IC Markets also offers cTrader, which features deeper liquidity and faster order execution, beneficial for scalping. XM Group adds its own XM WebTrader for browser-based trading. For Indonesia traders, cTrader on IC Markets is a standout for algorithmic trading. XM Group's platforms are more beginner-friendly with integrated educational resources.
| 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 uses Equinix NY4 data centers for ultra-fast execution, averaging 40ms, ideal for scalping Indonesia traders. XM Group's execution is slightly slower at 50ms due to its No Dealing Desk model. Both offer low slippage, but IC Markets is preferred for high-frequency trading. For Indonesia traders, IC Markets' speed is a significant advantage for volatile markets like USD/IDR.
| 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 ASIC (Australia) and CySEC (Cyprus), while XM Group is regulated by CySEC, FCA (UK), and IFSC (Belize). Neither broker is directly regulated by the local financial regulator (BAPPEBTI) in Indonesia. However, they comply with international standards and offer negative balance protection. For Indonesia traders, this means funds are held in segregated accounts, but no local deposit insurance applies. Always check the latest regulatory updates for your region.
| 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 |
Indonesia traders can deposit and withdraw using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets requires a minimum deposit of $200 via bank transfer or $50 via e-wallets. XM Group has a lower minimum of $5 for all methods. USDT deposits are processed within minutes at both brokers. Withdrawals are free at IC Markets, while XM Group charges a small fee for bank transfers. For Indonesia traders, XM Group's lower minimum and free e-wallet withdrawals are advantageous, while IC Markets is better for larger deposits.
| 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 brokers offer Islamic (swap-free) accounts for Indonesia Muslim traders. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, with no additional fees. XM Group offers Islamic accounts on Standard and Micro accounts, but not on its Zero account. For Indonesia traders, IC Markets is more flexible as it covers all account types. Ensure you request the Islamic account during registration to comply with Sharia law.
| 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 Indonesian language support available. XM Group also provides 24/5 support with Indonesian language options and a local phone number. Both have comprehensive FAQ sections. For Indonesia traders, XM Group's local phone support is more convenient, while IC Markets' 24/7 availability is better for night traders.
| 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 scalper needing tight spreads from 0.0 pips
- Prefer cTrader for advanced algorithmic trading
- Require 24/7 customer support with Indonesian language
- Want swap-free accounts on all account types
Choose XM Group if you...
- Are a beginner with a small deposit of $5
- Need more local payment options like Bank Transfer and USDT with no fees
- Prefer a wide range of educational resources
- Want a broker with a local phone support number in Indonesia
Both IC Markets and XM Group are excellent for Indonesia traders, but the best choice depends on your needs. IC Markets (4.8/5) wins for tight spreads, fast execution, and advanced platforms, ideal for active traders. XM Group (4.7/5) is better for beginners with its low minimum deposit and extensive local payment options including Bank Transfer, Skrill, Neteller, and USDT. Neither is regulated by the local financial regulator, but both are reputable internationally. For Indonesia traders, XM Group offers more accessibility, while IC Markets delivers superior trading conditions. Consider your trading volume and deposit preferences when deciding.