IC Markets vs XM Group: Norway Trader Comparison 2026
Which broker is better for Norway traders in 2026? Expert analysis across 12 categories.
For Norway traders in 2026, choosing between IC Markets and XM Group is a critical decision. Both brokers are highly rated—IC Markets with a 4.8/5 score and XM Group at 4.7/5—but they cater to different trading styles. IC Markets is known for its raw spreads and ECN execution, ideal for scalpers and algo traders. XM Group offers a more beginner-friendly platform with lower minimum deposits and extensive educational resources. Norway traders benefit from local payment methods like Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals seamless. Both brokers accept Norwegian clients, though neither is regulated by the local financial regulator, relying instead on international licenses. This comparison covers spreads, platforms, regulation, and deposit options to help you decide.
| 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 Norway traders, trading costs are a major factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $7 commission per lot round turn, making it ideal for high-volume traders. XM Group's Zero account has spreads from 0.6 pips with a $5 commission, while its Standard account is commission-free with spreads from 1.0 pips. Over a month of active trading, IC Markets can save Norway traders significant costs, especially on major forex pairs like EUR/NOK. XM Group is more affordable for smaller accounts due to lower minimum deposits and no commission on standard accounts.
| 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 |
|---|---|---|
| Norway (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, which are popular among Norway traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform preferred for its ECN pricing and depth of market. XM Group adds its own XM WebTrader, which is accessible without downloads. For Norway traders, platform choice depends on trading style: cTrader suits scalpers, while MetaTrader is versatile for all strategies. Both brokers support mobile trading, ensuring you can trade on the go.
| 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 ECN execution with no dealing desk, offering average execution speeds under 40ms and minimal slippage. XM Group uses STP execution with a dealing desk for some accounts, resulting in speeds around 100ms. For Norway traders who trade high volumes or use scalping strategies, IC Markets' faster execution is a clear advantage. XM Group's execution is reliable but better suited for swing traders and long-term positions.
| 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 holds licenses from CySEC, FCA (UK), and ASIC. Neither broker is regulated by the local financial regulator in Norway, but they comply with European standards. For Norway traders, this means client funds are segregated and negative balance protection applies. XM Group's FCA regulation offers additional security, but IC Markets' focus on low-cost trading may appeal more to experienced traders. Always verify regulatory status before opening an account.
| 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 |
Norway traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets has a minimum deposit of $200, while XM Group requires only $5, making XM more accessible for new traders. Deposits are processed instantly for e-wallets and USDT, while bank transfers may take 1-3 business days. Withdrawals are free at both brokers, with e-wallet withdrawals processed within 24 hours. For Norway traders, USDT is a fast, low-cost option, especially for larger amounts. Both brokers support multiple currencies, including USD, EUR, and NOK.
| 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 Norway's Muslim traders. IC Markets provides swap-free accounts upon request, with no swap charges on overnight positions, but a small administrative fee may apply after a holding period. XM Group offers automatic swap-free accounts for clients from Muslim-majority countries, with no fees. For Norway traders, XM Group's policy is more straightforward, while IC Markets requires a request. Both comply with Sharia law by eliminating interest-based charges.
| 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 fast response times. XM Group also provides 24/5 support in multiple languages, including Norwegian. XM Group's support is more comprehensive with dedicated account managers for VIP clients. For Norway traders, XM Group's localized support may be more helpful, though IC Markets' 24/7 availability is a plus for round-the-clock trading.
| 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 looking for raw spreads from 0.0 pips
- Prefer ECN execution with low latency for scalping or algo trading
- Use cTrader or MetaTrader and need advanced charting tools
- Have a larger deposit (minimum $200) and trade major forex pairs like EUR/NOK
Choose XM Group if you...
- Are a beginner or retail trader with a small account (minimum $5)
- Want commission-free trading on standard accounts
- Need educational resources and dedicated account managers
- Prefer local payment methods like Bank Transfer, Skrill, Neteller, or USDT with lower minimums
For Norway traders in 2026, both IC Markets and XM Group are excellent choices, but the best fit depends on your trading style. IC Markets wins on cost and execution, making it ideal for active traders who want low spreads and fast order fills. XM Group offers greater accessibility with its low minimum deposit, educational tools, and broader payment options including Bank Transfer, Skrill, Neteller, and USDT. Neither broker is regulated by the local financial regulator, but both operate under strong international oversight. If you trade high volumes, go with IC Markets; if you're starting or prefer a supportive environment, XM Group is the better choice.