IC Markets vs XM Group for Philippines Traders (2026)
Which broker is better for Philippines traders in 2026? Expert analysis across 12 categories.
For Philippines traders comparing IC Markets vs XM Group in 2026, both brokers offer robust trading environments tailored to local needs. IC Markets, rated 4.8/5, is renowned for its ultra-low spreads and institutional-grade execution, making it a top choice for serious retail traders in Manila, Cebu, and beyond. XM Group, scoring 4.7/5, excels with a user-friendly platform, extensive educational resources, and flexible deposit options including Bank Transfer, Skrill, Neteller, and USDT. Both brokers support MetaTrader 4 and 5, but they differ in cost structure and account types. As the Philippines forex market grows, local traders benefit from these brokers’ global reach and local payment integration. This comparison covers spreads, platforms, regulation, and deposit methods specifically for Philippines traders, helping you decide which broker aligns with your trading 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 it comes to trading costs, IC Markets offers a clear edge for Philippines traders who trade frequently. Its Raw Spread account provides spreads from 0.0 pips with a $3.50 commission per lot round turn, while the Standard account has spreads from 0.8 pips with no commission. XM Group’s standard account starts at 1.0 pips with no commission, and its Ultra-Low account offers spreads from 0.6 pips with a $5 commission. For a Philippines trader executing 10 lots per month, IC Markets can save up to $20–$30 in spreads compared to XM Group. However, XM Group’s no-commission accounts are more straightforward 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 |
|---|---|---|
| Philippines (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 IC Markets and XM Group offer MetaTrader 4, MetaTrader 5, and cTrader, ensuring Philippines traders have access to industry-standard tools. IC Markets’ cTrader platform is particularly favored for its advanced charting and fast execution, ideal for scalpers. XM Group provides a more streamlined experience with its proprietary XM WebTrader and mobile apps, which are beginner-friendly. For Philippines traders with varying internet speeds, both brokers offer stable mobile apps that work well on 4G and 5G networks. MT4 remains the most popular choice locally due to its custom indicators and automated trading capabilities.
| 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 low-latency execution, with servers located in the NY4 and LD4 data centers, offering average execution speeds under 40ms. XM Group also provides fast execution with speeds under 50ms. For Philippines traders, the difference is minimal in normal market conditions, but during high volatility, IC Markets’ direct market access (DMA) can reduce slippage. Both brokers offer no dealing desk (NDD) execution, ensuring fair pricing.
| 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 the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), providing strong client fund segregation and negative balance protection. XM Group is regulated by CySEC, the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). For Philippines traders, both brokers offer a high level of security, though they are not directly supervised by the local financial regulator. This means traders should rely on the brokers’ international regulatory status. XM Group’s FCA regulation adds an extra layer of trust for risk-averse traders.
| 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 |
Philippines traders have multiple deposit and withdrawal options at both brokers. IC Markets supports Bank Transfer, Skrill, Neteller, and USDT, with deposits processed instantly for e-wallets and crypto. Bank transfers may take 1-2 business days. XM Group offers the same methods plus local options like GCash and PayMaya, making it slightly more convenient for smaller deposits. Minimum deposits are $200 for IC Markets and $5 for XM Group, making XM Group more accessible for beginners. Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 2-5 days. Both brokers charge no internal fees, but local bank fees may apply.
| 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 Philippines Muslim traders who follow Sharia law. These accounts eliminate overnight swap fees on positions held beyond a single day. IC Markets provides swap-free accounts on all account types, while XM Group offers them on standard and micro accounts. Traders must request this account type during registration and may need to provide a declaration of faith. Both brokers apply a small administrative fee after a holding period (e.g., 7-10 days) to prevent abuse. This ensures compliance without disadvantaging genuine Islamic traders in the Philippines.
| 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 |
Customer support is available 24/5 for both brokers, with IC Markets offering live chat, email, and phone support in English. XM Group provides 24/5 support in multiple languages, including Tagalog, which is a significant advantage for Philippines traders who prefer local language assistance. Both brokers have responsive teams, but XM Group’s local language support and comprehensive FAQ section make it more accessible for Filipino 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 an active scalper or day trader requiring ultra-low spreads from 0.0 pips.
- Trade high volumes and want to minimize per-lot costs.
- Prefer cTrader for advanced charting and algorithmic trading.
- Need fast execution with minimal slippage during news events.
Choose XM Group if you...
- Are a beginner or casual trader with a smaller starting capital (min $5 deposit).
- Prefer local payment methods like GCash and PayMaya.
- Want customer support in Tagalog or other local languages.
- Value educational resources and a more intuitive platform.
For Philippines traders, the choice between IC Markets and XM Group depends on your trading style and priorities. IC Markets is the better option for cost-conscious active traders who value low spreads and fast execution, especially when using Skrill, Neteller, or USDT for deposits. XM Group stands out for its beginner-friendly approach, lower minimum deposit, and local payment integration like GCash. Both brokers are regulated by top-tier authorities, ensuring safety for Philippines traders. If you trade frequently and prioritize spreads, go with IC Markets. If you’re starting out or prefer a more supportive environment, XM Group is a solid choice. Ultimately, both brokers deliver a reliable trading experience tailored to the Philippines market.