IC Markets vs XM Group 2026: Which Forex Broker is Better for North Macedonia Traders?
Which broker is better for North Macedonia traders in 2026? Expert analysis across 12 categories.
For North Macedonia traders seeking a reliable forex broker, IC Markets and XM Group are two top-tier choices in 2026. Both brokers accept clients from North Macedonia and support local payment methods including Bank Transfer, Skrill, Neteller, and USDT. IC Markets boasts a 4.8/5 rating, known for ultra-low spreads and institutional-grade execution, while XM Group (4.7/5) excels in user-friendliness and educational resources. The local trading environment in North Macedonia favors brokers with flexible deposit options and strong regulatory oversight, though neither is directly regulated by the local financial regulator. This comparison helps retail traders in Skopje, Bitola, and beyond decide which broker aligns with their trading style, whether scalping, swing trading, or long-term investing.
| 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 |
IC Markets offers lower spreads, starting from 0.0 pips on its Raw Spread account with a $3.50 commission per lot, making it ideal for high-volume North Macedonia traders. XM Group has standard spreads from 0.6 pips with no commission, which is cost-effective for smaller trades. For a North Macedonia trader executing 10 standard lots per month in USD pairs, IC Markets can save up to 30% on total costs compared to XM Group. However, XM Group’s zero-fee deposits and withdrawals compensate for slightly higher spreads, especially for beginners.
| 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 |
|---|---|---|
| North Macedonia (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 MetaTrader 4 and MetaTrader 5, the most popular platforms among North Macedonia traders. IC Markets also provides cTrader and a proprietary web platform, giving advanced users more tools for automated trading. XM Group focuses on simplicity with MT4/MT5 and its XM WebTrader. For North Macedonia traders who value speed and customization, IC Markets is superior; for those preferring a straightforward interface, XM Group is sufficient.
| 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 provides true ECN execution with no dealing desk intervention, offering average execution speeds under 40ms. XM Group uses a hybrid model with some market-making elements, resulting in slightly slower execution (around 100ms). For scalpers and algorithmic traders in North Macedonia, IC Markets’ execution is superior, while XM Group is adequate for manual traders.
| 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), CySEC (Cyprus), and FSA (Seychelles), while XM Group holds licenses from CySEC, FCA (UK), and IFSC (Belize). Neither broker is regulated by North Macedonia's local financial regulator, but both comply with EU standards via CySEC, offering negative balance protection and investor compensation funds. This provides a safety net for North Macedonia traders, though they should verify the specific entity they register with to ensure adequate protection.
| 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 |
North Macedonia traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets requires a minimum deposit of $200, while XM Group allows as little as $5. XM Group processes Skrill and Neteller deposits instantly with no fees, and USDT deposits are also fast. IC Markets supports the same methods but may charge a small fee for bank transfers. Withdrawals are typically processed within 1-2 business days via Skrill/Neteller and 3-5 days via bank transfer. USDT withdrawals are available at both, offering a crypto-friendly option for North Macedonia users.
| 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 Muslim traders in North Macedonia. IC Markets provides swap-free accounts on all account types (Standard, Raw Spread, cTrader) with no swap charges on overnight positions. XM Group offers Islamic accounts on Micro and Standard accounts, with a condition that positions held longer than 7 days may incur a fee. North Macedonia traders should review each broker’s policy to avoid unexpected charges, especially for long-term trades.
| 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 |
XM Group offers 24/5 multilingual support via live chat, phone, and email, with dedicated teams for Balkan regions including North Macedonia. IC Markets provides 24/7 live chat and email support but lacks regional language support. For North Macedonia traders, XM Group’s customer service is more accessible, though IC Markets’ round-the-clock availability benefits those trading after-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 a scalper or high-frequency trader needing ultra-low spreads and fast execution
- Prefer advanced platforms like cTrader alongside MT4/MT5
- Trade large volumes and want to minimize trading costs
- Need 24/7 customer support for after-hours trading
Choose XM Group if you...
- Are a beginner or low-volume trader wanting a low minimum deposit ($5)
- Prefer zero deposit/withdrawal fees and instant processing
- Value local language support and educational resources
- Want a more straightforward platform with no commission on trades
For North Macedonia traders, IC Markets edges ahead with a 4.8/5 score due to lower spreads and superior execution, ideal for active traders. XM Group (4.7/5) is better for beginners and those prioritizing low deposit requirements and local support. Both support Bank Transfer, Skrill, Neteller, and USDT, and are not regulated by the local financial regulator but hold reputable international licenses. Ultimately, your choice depends on trading volume and experience: IC Markets for cost efficiency, XM Group for simplicity and accessibility.