IC Markets vs XM Group: Which Broker is Best for Papua New Guinea Traders in 2026?
Which broker is better for Papua New Guinea traders in 2026? Expert analysis across 12 categories.
Papua New Guinea traders seeking reliable forex brokers in 2026 face a tough choice between IC Markets and XM Group. Both are globally recognized, offering tight spreads, multiple platforms, and support for local payment methods like Bank Transfer, Skrill, Neteller, and USDT. IC Markets, with a 4.8/5 rating, is favored by scalpers and algorithmic traders for its raw spreads from 0.0 pips and fast execution. XM Group, rated 4.7/5, appeals to retail traders with its extensive educational materials, no deposit fees, and user-friendly interface. For Papua New Guinea traders, the key differences lie in trading costs, platform flexibility, and regulatory protections. While both brokers accept clients from Papua New Guinea, they are not regulated by the local financial regulator, so due diligence is essential. This comparison will help you decide which broker aligns with your trading style and local needs.
| 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 Papua New Guinea traders, trading costs are critical due to the impact of spreads on profitability. IC Markets offers Raw Spread accounts with spreads from 0.0 pips and a commission of $3.50 per lot per side, ideal for high-volume scalpers. XM Group’s Zero account has spreads from 0.6 pips with a $5 commission per lot, while its Standard account has no commission but wider spreads. For a Papua New Guinea trader executing 10 lots per month, IC Markets is cheaper overall. XM Group’s Standard account, with spreads around 1.0 pip, suits lower-volume retail traders who prefer simplicity. Both brokers offer competitive costs, but IC Markets wins for active 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 |
|---|---|---|
| Papua New Guinea (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 support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Papua New Guinea traders for their advanced charting and automated trading capabilities. IC Markets also offers cTrader, a platform favored for its depth of market and fast order execution, ideal for scalpers. XM Group provides its proprietary XM WebTrader, which is beginner-friendly and accessible from any browser without installation. For Papua New Guinea traders using mobile devices, both brokers have robust mobile apps. IC Markets is better for advanced traders, while XM Group suits those new to forex.
| 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 40 milliseconds, making it ideal for Papua New Guinea scalpers and high-frequency traders. XM Group’s execution is also reliable, with speeds around 100 milliseconds, suitable for most retail strategies. Both brokers use No Dealing Desk (NDD) execution, ensuring no requotes. IC Markets’ cTrader platform offers deeper liquidity, while XM Group’s execution is consistent across MT4. Papua New Guinea traders with latency-sensitive strategies should choose IC Markets.
| 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 top-tier authorities like 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 the International Financial Services Commission (IFSC) in Belize. Neither broker is regulated by the local financial regulator in Papua New Guinea, meaning traders rely on international protections. For Papua New Guinea traders, this means client fund segregation and negative balance protection are in place, but local legal recourse is limited. Always verify the specific entity you open an account with, as client protections vary by jurisdiction.
| 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 |
Papua New Guinea traders can fund their accounts at both IC Markets and XM Group using Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes Skrill and Neteller deposits instantly, while Bank Transfer may take 1-3 business days. Withdrawals via Skrill and Neteller are typically processed within 24 hours. XM Group offers the same methods with no deposit fees for most options, and withdrawals are free for the first withdrawal per month. USDT deposits are available via cryptocurrency wallets, providing a fast and low-cost option for Papua New Guinea traders. Both brokers support withdrawals in USD, the base currency for Papua New Guinea traders. Minimum deposits are $200 for IC Markets and $5 for XM Group, making XM more accessible for beginners.
| 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 Papua New Guinea Muslim traders who follow Sharia law. IC Markets provides Islamic accounts with no swap or rollover interest on overnight positions, applicable to all account types. XM Group also offers swap-free accounts with the same conditions, but traders must request them via customer support. For Papua New Guinea traders, this is a key feature for long-term position trading. Both brokers maintain transparent policies, but IC Markets’ Islamic accounts are available on all platforms, while XM Group’s are limited to certain account types. Always confirm eligibility before opening an account.
| 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 for Papua New Guinea traders. XM Group provides 24/5 support in multiple languages, including English, with live chat and phone support. Both brokers have comprehensive FAQ sections. XM Group’s support is slightly more beginner-focused, offering personal account managers for larger deposits. For Papua New Guinea traders, IC Markets’ 24/7 availability is an advantage for after-hours 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 scalper or high-volume trader needing raw spreads from 0.0 pips.
- Prefer cTrader for advanced order types and depth of market.
- Require 24/7 customer support for after-hours trading.
- Trade algorithmically and need ultra-fast execution under 40ms.
Choose XM Group if you...
- Are a beginner retail trader needing educational resources and a low $5 minimum deposit.
- Prefer a user-friendly web-based platform with no installation.
- Want access to a wide range of CFDs including stocks and commodities.
- Value free first withdrawal per month and no deposit fees.
For Papua New Guinea traders in 2026, IC Markets is the superior choice for active and advanced traders due to its lower spreads, faster execution, and 24/7 support. It scores 4.8/5 and excels in cost efficiency for high-volume trading. XM Group, with a 4.7/5 rating, is better for retail beginners with its low minimum deposit, educational tools, and user-friendly platforms. Both brokers support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, and offer Islamic accounts. However, since neither is regulated by the local financial regulator, Papua New Guinea traders should prioritize brokers with strong international regulation. Ultimately, your choice depends on your trading volume and experience level.