IC Markets vs XM Group: Which Broker Suits Sao Tome and Principe Traders in 2026?
Which broker is better for Sao Tome and Principe traders in 2026? Expert analysis across 12 categories.
For retail traders in Sao Tome and Principe, choosing between IC Markets and XM Group is a critical decision that impacts trading costs, platform experience, and deposit flexibility. IC Markets, rated 4.8/5, is renowned for its ultra-low spreads and institutional-grade execution, making it a top choice for active traders. XM Group, rated 4.7/5, excels with its extensive educational tools, lower minimum deposit ($5), and strong customer support. Both brokers accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT, ensuring convenient funding for Sao Tome and Principe traders. The local financial regulator does not restrict these brokers, but traders should understand the offshore regulatory framework. This comparison covers spreads, platforms, regulation, and account types to help you decide based on 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 |
IC Markets offers spreads from 0.0 pips on Raw Spread accounts with a commission of $3.50 per lot per side, while XM Group’s standard account has spreads from 1.0 pips with no commission. For a Sao Tome and Principe trader trading 10 standard lots per month on EUR/USD, IC Markets would cost approximately $70 in commissions plus variable spreads (often 0.1-0.3 pips), totaling around $100-150. XM Group, with 1.0 pip spreads, would cost about $1,000 in spread costs. IC Markets is significantly cheaper for high-volume traders, while XM Group suits those who prefer no-commission simplicity.
| 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 |
|---|---|---|
| Sao Tome and Principe (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 provides MetaTrader 4, MetaTrader 5, and cTrader, all with advanced charting tools and algorithmic trading support. XM Group offers MT4 and MT5, plus its own XM WebTrader. For Sao Tome and Principe traders with varying internet speeds, both platforms are lightweight and reliable. IC Markets’ cTrader is ideal for scalpers due to its depth of market and fast order execution. XM Group’s platforms are beginner-friendly with integrated educational content. Mobile trading apps are available for both, supporting iOS and Android.
| 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 Equinix NY4 servers for ultra-low latency execution, with average order execution speeds of 40ms and no requotes. XM Group also offers fast execution with no dealing desk intervention, but average speeds are around 100ms. For Sao Tome and Principe traders, internet latency to European servers may be slightly higher, but both brokers compensate with multiple server locations. IC Markets is better for scalpers and algorithmic 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 the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA). XM Group is regulated by CySEC, the International Financial Services Commission (IFSC) of Belize, and the Australian ASIC. For Sao Tome and Principe traders, these offshore licenses provide a baseline of client fund segregation and negative balance protection. The local financial regulator does not directly oversee these brokers, so traders should verify the broker’s terms and consider risk disclosure. Both brokers offer compensation schemes (e.g., ICF in Cyprus) for clients under EU entities, but non-EU clients may have limited coverage.
| 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 |
Sao Tome and Principe traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT (Tether) at both brokers. IC Markets has a minimum deposit of $200 via bank wire and $50 via e-wallets, while XM Group allows deposits as low as $5. Withdrawals are processed within 1-2 business days for e-wallets and 3-5 days for bank transfers. USDT deposits are particularly useful for traders avoiding high conversion fees from Sao Tome and Principe dobra (STN) to USD. Both brokers do not charge deposit fees, but XM Group may charge a small withdrawal fee after a certain number of free withdrawals per month. IC Markets offers unlimited free withdrawals.
| 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 compliant with Sharia law, available to Sao Tome and Principe Muslim traders. IC Markets provides swap-free status on all account types (Standard, Raw, and cTrader) with no extra charges, though positions held beyond 7 days may incur a small fee. XM Group offers Islamic accounts on Standard and Micro accounts, with swap-free status for an unlimited period. Neither broker charges administrative fees for opening an Islamic account. Traders should contact customer support to activate the feature after registration.
| 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 multilingual customer support via live chat, email, and phone, with response times under 30 seconds for live chat. XM Group provides 24/5 support with a dedicated Portuguese-speaking team, which is beneficial for Sao Tome and Principe traders who speak Portuguese. Both brokers have extensive FAQ sections. XM Group also offers personal account managers for clients with higher deposits.
| 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...
- Trade high volumes and need ultra-low spreads from 0.0 pips to minimize costs.
- Prefer advanced platforms like cTrader with depth of market and fast execution.
- Require unlimited free withdrawals and a wider range of funding options including USDT.
- Are an experienced retail trader or scalper focusing on short-term strategies.
Choose XM Group if you...
- Are a beginner with a small capital and prefer a low minimum deposit of $5.
- Value educational resources and a dedicated Portuguese-speaking support team.
- Want a swap-free Islamic account with no time limits on holding positions.
- Prefer a no-commission structure and a more straightforward trading experience.
For retail traders in Sao Tome and Principe, IC Markets is the superior choice for active, cost-conscious traders who prioritize low spreads and fast execution. Its support for USDT deposits and unlimited free withdrawals adds flexibility. XM Group is ideal for beginners or those with smaller capital, thanks to its low $5 minimum deposit and extensive educational tools. Both brokers are legally accessible and accept Bank Transfer, Skrill, Neteller, and USDT. The local financial regulator does not restrict either broker, but traders should assess their own risk tolerance. Ultimately, IC Markets edges out with a 4.8/5 rating versus XM Group’s 4.7/5, but your choice should align with your trading volume and experience level.