IC Markets vs XM Group: Which Broker Suits Saudi Arabia Traders in 2026?
Which broker is better for Saudi Arabia traders in 2026? Expert analysis across 12 categories.
For Saudi Arabia traders looking to trade forex and CFDs in 2026, choosing between IC Markets and XM Group is a critical decision. Both brokers are highly rated globally—IC Markets scoring 4.8/5 and XM Group 4.7/5—and offer strong features for retail traders in the Kingdom. Saudi Arabia traders benefit from access to both brokers, which support local deposit methods like Bank Transfer, Skrill, Neteller, and USDT, and provide Islamic accounts compliant with Sharia law. IC Markets is known for its ultra-low spreads and fast execution, appealing to active traders, while XM Group excels with its educational resources and beginner-friendly platforms. This comparison will help you decide which broker aligns best with your trading style and local needs, considering factors like cost, regulation, and support tailored to Saudi Arabia.
| 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 comparing trading costs for Saudi Arabia traders, IC Markets holds a clear advantage with raw spreads from 0.0 pips on major pairs like EUR/USD, though a commission of $3.50 per lot per side applies. XM Group’s Zero account offers spreads from 0.6 pips with no commission, making it more cost-effective for smaller trades. For high-volume traders in Saudi Arabia, IC Markets’ lower spreads can result in significant savings—up to 30% less cost per trade on 10+ lots daily. XM Group’s standard account has spreads from 1.0 pips, which is higher but includes no commission. Both brokers offer competitive swap rates, but Islamic accounts eliminate overnight fees.
| 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 |
|---|---|---|
| Saudi Arabia (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 provide MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Saudi Arabia traders for their advanced charting and automated trading capabilities. IC Markets also offers cTrader, a platform with deeper liquidity and faster order execution, ideal for scalpers. XM Group adds its proprietary XM WebTrader, which is user-friendly and requires no download. For Saudi Arabia traders who trade on mobile, both brokers have robust apps, but IC Markets’ cTrader mobile app is more responsive for high-frequency trading.
| 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 boasts superior execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data center and deep liquidity pool. This is critical for Saudi Arabia traders using scalping or high-frequency strategies. XM Group offers reliable execution but with occasional requotes during volatile markets. For fast, consistent fills, IC Markets is the clear leader.
| 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 bodies including ASIC (Australia) and CySEC (Cyprus), while XM Group is regulated by CySEC, IFSC (Belize), and ASIC. Neither broker is directly regulated by the local financial regulator in Saudi Arabia, but both accept Saudi clients and comply with international standards. This means Saudi Arabia traders have access to segregated client funds and negative balance protection from IC Markets, while XM Group offers additional investor compensation schemes under EU regulation. Always verify the specific entity you open an account with, as terms may 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 |
Depositing and withdrawing funds as a Saudi Arabia trader is straightforward with both IC Markets and XM Group. Both brokers support Bank Transfer, Skrill, Neteller, and USDT (Tether), which are popular in the region. IC Markets also accepts credit/debit cards and PayPal, while XM Group adds UnionPay and WebMoney. Minimum deposits are $200 for IC Markets and $5 for XM Group, making XM more accessible for beginners. Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 1-3 business days. IC Markets charges no withdrawal fees, but XM Group may apply a small fee for certain methods. Saudi Arabia traders should note that USDT deposits are processed on the TRC20 or ERC20 network, with network fees applicable.
| 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 Saudi Arabia, ensuring no interest is charged or earned on overnight positions. IC Markets provides Islamic accounts on all account types (Standard, Raw Spread, and cTrader) with no additional fees, making it ideal for long-term traders. XM Group also offers swap-free accounts, but charges a small administrative fee on positions held beyond a certain period (usually 3-5 days) for some instruments. For Saudi Arabia traders seeking a fully compliant Islamic account with no hidden costs, IC Markets is the better choice.
| 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 customer support with phone, live chat, and email, including Arabic language support, which is a major plus for Saudi Arabia traders. IC Markets also provides 24/7 support via live chat and email, but phone support is limited to business hours. Both brokers have comprehensive FAQ sections, but XM Group’s support is more accessible for Arabic-speaking clients.
| 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 or high-volume trader seeking the lowest spreads and fastest execution
- Prefer cTrader for advanced charting and algorithmic trading
- Want a fully swap-free Islamic account with no hidden fees
- Need support for USDT deposits and withdrawals
Choose XM Group if you...
- Are a beginner or casual trader valuing low minimum deposits ($5) and educational resources
- Require Arabic language customer support via phone
- Prefer a proprietary web platform for easy access
- Want a broker with a wider range of deposit methods including UnionPay
For Saudi Arabia traders in 2026, IC Markets (4.8/5) is the stronger choice for those prioritizing cost efficiency and execution speed, especially with its support for Bank Transfer, Skrill, Neteller, and USDT deposits and a fully compliant Islamic account. XM Group (4.7/5) is excellent for beginners or traders who value Arabic support and low entry barriers. Both brokers are not locally regulated by the local financial regulator, but operate under trusted international licenses. If you trade frequently or use scalping strategies, IC Markets is your best bet. For a more guided, lower-risk start, XM Group is a solid alternative.