IC Markets vs XM Group: Which Broker is Best for Sweden Traders in 2026?
Which broker is better for Sweden traders in 2026? Expert analysis across 12 categories.
Sweden traders looking for a reliable forex broker often compare IC Markets and XM Group. Both are globally recognized, but they cater to slightly different needs. IC Markets is known for its ultra-low spreads, fast execution, and institutional-grade trading conditions, making it a top choice for active and high-volume traders in Sweden. XM Group, on the other hand, offers a more user-friendly experience with extensive educational resources, flexible account types, and a wide range of tradable assets. For Sweden residents, both brokers accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT, which simplifies deposits and withdrawals. While neither broker is directly regulated by the local financial regulator, they hold licenses from reputable authorities such as CySEC, ASIC, and FSA. This comparison will help Sweden traders decide which broker aligns best with their trading style, budget, and goals in 2026.
| 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 Sweden traders, trading costs are a critical factor. IC Markets offers spreads starting from 0.0 pips on its Raw Spread account with a commission of $7 per lot round turn. XM Group's spreads start from 0.6 pips on its Zero account with a commission of $5 per lot, but standard accounts can have spreads as high as 1.6 pips. On a typical 10-lot trade per month, IC Markets can save Sweden traders around $20–$40 in spreads compared to XM Group. For scalpers and day traders in Sweden, IC Markets is more cost-effective, while XM Group may suit those who prefer no-commission accounts with slightly higher spreads.
| 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 |
|---|---|---|
| Sweden (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 and MetaTrader 5, which are popular among Sweden traders. IC Markets also provides cTrader, a platform known for its advanced charting and fast execution, ideal for algorithmic traders. XM Group lacks cTrader but offers its own WebTrader and mobile apps. For Sweden traders who value customization and speed, IC Markets has the edge. XM Group's platforms are more beginner-friendly and include integrated educational tools, which can be beneficial for new traders in Sweden.
| 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 renowned for its ultra-fast execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data centers. XM Group offers good execution with an average speed of 100ms, but occasional slippage may occur during volatile markets. For Sweden traders who trade news events or use scalping strategies, IC Markets' execution quality is superior. XM Group's execution is reliable for standard trading but not as competitive for high-frequency trading.
| 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). XM Group is regulated by CySEC, the Financial Services Commission (FSC) in Belize, and the Australian Securities and Investments Commission (ASIC). Neither broker is directly supervised by the local financial regulator in Sweden. However, both comply with European MiFID II standards through their CySEC entities, which provides a layer of protection for Sweden traders. Sweden traders should be aware that client funds are held in segregated accounts, and both brokers offer negative balance protection.
| 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 |
Sweden traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and XM Group. IC Markets processes deposits instantly via e-wallets and USDT, while bank transfers may take 1-3 business days. Withdrawals are free at IC Markets, with same-day processing for e-wallets. XM Group also offers instant deposits via Skrill and Neteller, and withdrawals are processed within 24 hours. Both brokers charge no deposit fees and support USD accounts, which is convenient for Sweden traders. USDT deposits are particularly useful for crypto-friendly traders in Sweden, offering fast and low-cost transfers.
| 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 |
Sweden Muslim traders can access Islamic (swap-free) accounts at both IC Markets and XM Group. IC Markets offers Islamic accounts on request for all account types, with no swap fees on overnight positions. XM Group provides Islamic accounts automatically for clients from Muslim-majority countries, including Sweden, and also waives swap fees. Both brokers ensure that these accounts comply with Sharia law by not charging or paying interest. This makes both brokers suitable for Sweden's Muslim traders who require swap-free trading.
| 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 a focus on technical trading issues. XM Group also provides 24/5 multilingual support, including Swedish language assistance. XM Group's support is more accessible for beginners, with faster response times for account-related queries. For Sweden traders, XM Group's Swedish-speaking support may be an advantage, while IC Markets' round-the-clock service is better for active 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 a scalper or day trader in Sweden needing ultra-low spreads and fast execution.
- Trade high volumes and want the most cost-effective pricing.
- Prefer advanced platforms like cTrader for algorithmic trading.
- Need 24/7 support for round-the-clock trading sessions.
Choose XM Group if you...
- Are a beginner or intermediate trader in Sweden wanting educational resources.
- Prefer flexible account types including micro and standard accounts.
- Value Swedish-language customer support and easy account management.
- Want a wide range of tradable instruments beyond forex, including CFDs on stocks and commodities.
For Sweden traders, the choice between IC Markets and XM Group depends on their trading priorities. IC Markets wins on trading costs, execution speed, and platform variety, making it ideal for active and professional traders. XM Group offers a more supportive environment for beginners with educational tools and local language support. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT, ensuring convenient deposits and withdrawals for Sweden residents. While neither is regulated by the local financial regulator, both operate under reputable licenses. If you prioritize low spreads and fast execution, go with IC Markets. If you value flexibility and learning resources, XM Group is a strong alternative. Ultimately, both are top-tier brokers for Sweden traders in 2026.