IC Markets vs XM Group 2026: In-Depth Comparison for Togo Traders
Which broker is better for Togo traders in 2026? Expert analysis across 12 categories.
Togo traders seeking a reliable forex broker face a choice between two industry leaders: IC Markets and XM Group. Both brokers are highly rated (4.8/5 and 4.7/5 respectively) and cater well to retail traders in Togo. With the local currency (USD) and support for popular payment methods like Bank Transfer, Skrill, Neteller, and USDT, both platforms offer a seamless trading experience. However, differences in spreads, minimum deposits, and account types can influence your decision. This comparison breaks down key factors such as trading costs, platforms, regulation, deposit/withdrawal processes, and Islamic account options—all tailored for Togo’s trading environment. Whether you are a beginner or an experienced trader, understanding these nuances will help you choose the broker that aligns with your goals and local financial regulations.
| 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 Togo traders, trading costs are a critical factor. IC Markets offers raw spreads from 0.0 pips on its Raw Spread account, plus a commission of $3.50 per lot per side. This structure is ideal for high-volume traders who benefit from tight spreads. In contrast, XM Group’s standard account has spreads starting at 1.0 pips with no commission, making it more suitable for smaller trades. For a Togo trader executing 10 lots per month on EUR/USD, IC Markets would cost approximately $70 in commission plus spreads, while XM Group would cost around $100 in spreads alone. Over time, IC Markets is more cost-effective for active traders, while XM Group’s no-commission model appeals to those trading lower volumes.
| 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 |
|---|---|---|
| Togo (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 brokers provide industry-leading platforms that meet Togo traders’ needs. IC Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, all with fast execution and advanced charting tools. XM Group also supports MT4 and MT5, plus its proprietary XM WebTrader. For Togo traders with varying internet speeds, both platforms offer mobile apps for Android and iOS. IC Markets’ cTrader is particularly popular for its depth of market and algorithmic trading capabilities, while XM Group’s user-friendly interface suits beginners. Overall, platform choice depends on personal preference, but both brokers ensure reliable access for Togo-based traders.
| 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 |
Execution quality is a key differentiator. IC Markets uses low-latency servers in data centers (Equinix NY4, LD4, TY3) and offers no requotes on most orders, with average execution speed under 40 ms. XM Group also provides fast execution, but its standard accounts may experience slight requotes during volatile events. For Togo traders who scalp or trade news, IC Markets’ superior execution is a clear advantage, while XM Group’s execution is reliable for swing and position 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 | ✓ | ✓ |
Regulation is crucial for Togo traders to ensure fund safety. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in Seychelles. XM Group is regulated by CySEC, the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). Both brokers adhere to strict client fund segregation rules and negative balance protection. While Togo’s local financial regulator does not directly oversee these brokers, the international regulatory oversight provides a high level of security. Togo traders should feel confident in either broker’s compliance with global standards.
| 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 is straightforward for Togo traders using both IC Markets and XM Group. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT. IC Markets has a minimum deposit of $200 for all methods, while XM Group allows deposits as low as $5. For Bank Transfer, processing times range from 1-3 business days, while Skrill, Neteller, and USDT deposits are instant. Withdrawals are processed within 24 hours for e-wallets and USDT, and 2-5 business days for Bank Transfer. Neither broker charges deposit fees, but XM Group offers free withdrawals for the first withdrawal each month. IC Markets does not charge withdrawal fees for e-wallets and USDT, but bank transfers may incur intermediary fees. Togo traders should consider the minimum deposit requirements and withdrawal speed when choosing.
| 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 |
For Muslim traders in Togo, both IC Markets and XM Group offer Islamic (swap-free) accounts that comply with Sharia law by eliminating overnight swap charges. IC Markets provides Islamic accounts on its Raw Spread and Standard accounts, requiring a minimum deposit of $200. XM Group offers Islamic accounts on all account types with a minimum deposit of just $5. Both brokers require a request for Islamic account activation, which is usually processed within 24 hours. XM Group’s lower minimum deposit makes it more accessible for Togo traders starting with smaller capital, while IC Markets’ swap-free accounts are ideal for those trading larger volumes without interest.
| 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 from both brokers, with multilingual teams. IC Markets offers live chat, email, and phone support, with response times under 1 hour during market hours. XM Group provides similar channels plus a callback service. For Togo traders, both brokers support English and French, ensuring clear communication. XM Group’s support is slightly more responsive for basic queries, while IC Markets excels in technical support for advanced 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 or high-volume trader seeking the lowest spreads from 0.0 pips
- Prefer advanced platforms like cTrader or MetaTrader 5 for algorithmic trading
- Have a larger initial capital of $200 or more to deposit via Bank Transfer, Skrill, Neteller, or USDT
- Value ultra-fast execution for scalping or news trading strategies
Choose XM Group if you...
- Are a beginner or retail trader with a small budget (minimum deposit $5)
- Prefer a no-commission account with simple spreads from 1.0 pips
- Want flexible deposit options including USDT and e-wallets with lower minimums
- Need an Islamic account with a very low minimum deposit requirement
After comparing IC Markets and XM Group for Togo traders, the choice depends on your trading style and budget. IC Markets (4.8/5) is the superior option for active traders who prioritize low spreads, fast execution, and advanced tools. Its support for Bank Transfer, Skrill, Neteller, and USDT ensures convenient funding, but the $200 minimum deposit may be a barrier for some. XM Group (4.7/5) is ideal for beginners or those with smaller capital, offering a $5 minimum deposit and no-commission accounts. Both brokers are regulated by top-tier authorities, providing safety for Togo traders. For the best all-round experience, IC Markets leads, but XM Group’s accessibility and Islamic account options make it a strong contender. Consider your volume, capital, and trading goals to make the right choice.