IC Markets vs XM Group: Ireland Trader Comparison 2026
Which broker is better for Ireland traders in 2026? Expert analysis across 12 categories.
For Ireland traders looking for a reliable forex broker in 2026, IC Markets and XM Group are two of the most popular choices, both scoring highly at 4.8/5 and 4.7/5 respectively. IC Markets is known for its ultra-low spreads and institutional-grade execution, making it ideal for active retail traders in Ireland who trade high volumes. XM Group, on the other hand, offers a more comprehensive educational suite and a user-friendly platform, appealing to beginners and intermediate traders. Both brokers accept Irish clients and are regulated by the local financial regulator (Central Bank of Ireland), ensuring compliance with EU MiFID II standards. They also support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals seamless for Irish traders. Whether you are based in Dublin, Cork, or Limerick, this comparison will help you decide which broker best suits your trading style and goals.
| 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 Ireland traders, IC Markets generally offers lower spreads than XM Group. IC Markets' Raw Spread account provides spreads from 0.0 pips with a commission of $7 per lot round-turn, while XM Group's Zero account starts from 0.6 pips with no commission. For a typical retail trader in Ireland executing 10 lots per day on EUR/USD, IC Markets can save approximately $50-$100 per month in spread costs. However, XM Group's standard account has no commission but wider spreads, which may suit lower-volume traders. Both brokers are transparent about costs, but IC Markets is the clear winner for cost-conscious Irish traders who trade 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 |
|---|---|---|
| Ireland (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 and XM Group both offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by Ireland traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform favoured for its intuitive interface and depth of market, ideal for scalpers and day traders in Ireland. XM Group offers its proprietary XM WebTrader, which is beginner-friendly and accessible from any browser. For Irish traders who value customisation and speed, IC Markets' cTrader is a standout, while XM Group's platform suite is more accessible for those new to forex trading.
| 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 its Raw Spread account, making it ideal for scalpers and high-frequency traders in Ireland. XM Group offers reliable execution with speeds around 100ms, which is still suitable for most retail traders. Both brokers use No Dealing Desk (NDD) execution, ensuring no requotes, but IC Markets' superior infrastructure gives it an edge for traders who prioritise speed and precision.
| 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 | ✓ | ✓ |
Both IC Markets and XM Group are regulated by the Central Bank of Ireland as part of their EU operations, ensuring they adhere to MiFID II requirements for client fund segregation, negative balance protection, and leverage limits. IC Markets is also regulated by ASIC and CySEC, while XM Group holds licenses from the FCA, CySEC, and ASIC. For Ireland traders, this multi-regulatory oversight provides an extra layer of security. The local financial regulator (Central Bank of Ireland) actively monitors both brokers, meaning Irish clients can trade with confidence knowing their funds are protected under EU law.
| 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 |
Ireland traders can deposit and withdraw funds at both IC Markets and XM Group using Bank Transfer, Skrill, Neteller, and USDT. IC Markets supports instant deposits via Skrill and Neteller with no fees, while bank transfers are free but take 1-3 business days. USDT deposits are processed via Tether (ERC-20 or TRC-20) with low fees and fast confirmation times. XM Group offers similar options, with Skrill and Neteller deposits processed instantly and bank transfers taking 1-2 business days. Withdrawals are generally free at both brokers, though XM Group charges a small fee for certain methods. For Irish traders, USDT is particularly useful for avoiding currency conversion fees when depositing in USD.
| 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 Ireland traders who require them under Sharia law. IC Markets provides Islamic accounts on request, with no swap or interest charges on overnight positions, but may apply an administrative fee after a holding period. XM Group also offers swap-free accounts with similar conditions, though it's important to note that both brokers may have restrictions on certain instruments or trading strategies. Irish Muslim traders should contact customer support to confirm the specific terms and ensure the account meets their religious requirements.
| 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 a dedicated team that responds quickly to inquiries from Ireland traders. XM Group also provides 24/5 support with multilingual agents, including English-speaking support for Irish clients. Both brokers have comprehensive FAQ sections and educational resources, but IC Markets' round-the-clock support is a slight advantage for traders in Ireland who trade during non-standard hours.
| 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 an active retail trader seeking the lowest spreads and commissions.
- Prefer fast execution speeds for scalping or day trading.
- Want access to cTrader for advanced charting and depth of market.
- Trade high volumes and want to minimise trading costs.
Choose XM Group if you...
- Are a beginner or intermediate trader needing educational resources.
- Prefer a user-friendly platform with a proprietary web trader.
- Want a broker with a strong reputation for customer support.
- Trade lower volumes and prefer no-commission accounts.
For Ireland traders in 2026, both IC Markets and XM Group are excellent choices, but the best broker depends on your trading style. IC Markets wins on cost and execution, with spreads from 0.0 pips and speeds under 40ms, making it ideal for active retail traders. XM Group offers a more beginner-friendly experience with robust educational tools and support. Both brokers accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT, and are regulated by the Central Bank of Ireland. If you prioritise low costs and fast execution, choose IC Markets. If you value education and ease of use, XM Group is a strong alternative. Ultimately, IC Markets' slightly higher rating (4.8 vs 4.7) reflects its edge for cost-conscious traders in Ireland.