IC Markets vs XM Group: Which Broker is Better for Uzbekistan Traders?
Which broker is better for Uzbekistan traders in 2026? Expert analysis across 12 categories.
When comparing IC Markets vs XM Group for Uzbekistan traders in 2026, both brokers stand out as top choices for retail forex and CFD trading. IC Markets, with a 4.8/5 rating, is renowned for its ultra-low spreads, fast execution, and deep liquidity—ideal for active traders in Tashkent or across the country. XM Group, scoring 4.7/5, offers a more beginner-friendly platform with a low $5 minimum deposit, extensive educational resources, and a generous bonus program. For Uzbekistan traders, local payment methods like Bank Transfer, Skrill, Neteller, and USDT (Tether) are supported by both, making deposits and withdrawals convenient. While the local financial regulator does not directly oversee these brokers, both hold reputable international licenses. This comparison helps you decide based on your trading style, budget, and specific needs in the Uzbekistan market.
| 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 Uzbekistan traders, trading costs are a critical factor. IC Markets offers a Raw Spread account with spreads from 0.0 pips and a commission of $3.50 per lot per side, making it highly competitive for scalpers and high-volume traders. XM Group’s Standard account has spreads from 1.0 pips with no commission, which is cheaper for small trades under 0.5 lots. On a 10-lot trade, IC Markets saves approximately $20 compared to XM Group. For traders in Uzbekistan using USDT for funding, IC Markets’ lower spreads compound savings over time, especially with frequent trading.
| 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 |
|---|---|---|
| Uzbekistan (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 offer MetaTrader 4 and MetaTrader 5, which are popular among Uzbekistan traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform with superior order execution and depth of market—ideal for scalpers. XM Group focuses on MT4/MT5 and its proprietary XM WebTrader, which is accessible without downloads. For Uzbekistan traders with slower internet, XM’s web platform offers lower data usage, while IC Markets’ cTrader is better 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 is known for its ultra-fast execution with an average speed of 40ms, thanks to its Equinix NY4 data center and low-latency infrastructure. XM Group’s execution averages 50-60ms, still fast but slightly slower. For Uzbekistan traders using scalping strategies, IC Markets’ execution quality is superior, while XM Group’s execution is reliable for standard 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), offering strong client fund segregation. XM Group is regulated by CySEC, the Financial Conduct Authority (FCA) in the UK, and the International Financial Services Commission (IFSC) in Belize. For Uzbekistan traders, this means both brokers provide a level of protection, though the local financial regulator does not oversee them. The FCA regulation of XM Group offers the highest tier of protection, while IC Markets’ ASIC license is also reputable.
| 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 Uzbekistan traders at both brokers. IC Markets supports Bank Transfer, Skrill, Neteller, and USDT (Tether) with no deposit fees. Minimum deposit is $200. Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 1-3 business days. XM Group also accepts these methods with a lower minimum deposit of $5, making it more accessible. XM processes withdrawals within 24 hours for e-wallets and USDT, but bank transfers may take longer. Both brokers allow free deposits via USDT, which is popular in Uzbekistan for its speed and low cost. Note that IC Markets charges a small fee for bank transfers over $500, while XM Group does not.
| 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 Uzbekistan, both IC Markets and XM Group offer Islamic (swap-free) accounts. IC Markets provides Islamic accounts on all account types (Standard, Raw Spread, cTrader) with no swap charges on overnight positions, and no hidden fees. XM Group also offers Islamic accounts, but traders must request conversion via customer support. XM’s Islamic accounts are available on all account types and include full features. Both brokers ensure compliance with Sharia law, making them suitable for Uzbekistan’s Muslim majority.
| 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 English and Russian language options—useful for Uzbekistan traders. XM Group provides 24/5 support with multilingual assistance including Russian, and a dedicated account manager for VIP clients. Both have comprehensive FAQ sections, but IC Markets’ 24/7 availability gives it an edge for traders in different time zones.
| 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 high-volume trader needing ultra-low spreads from 0.0 pips
- Prefer cTrader for advanced order execution and depth of market
- Deposit over $200 and use USDT or e-wallets for fast funding
- Trade multiple lots per month to offset the commission costs
Choose XM Group if you...
- Are a beginner with a small account (minimum $5 deposit)
- Prefer no-commission trading with standard spreads
- Value a generous bonus program and extensive educational resources
- Want FCA regulation for the highest tier of client protection
For Uzbekistan traders in 2026, the choice between IC Markets and XM Group depends on your trading style and budget. IC Markets wins for cost-conscious, active traders who can benefit from its raw spreads and fast execution—especially if using USDT or e-wallets for deposits. XM Group is better for beginners or those with smaller capital, thanks to its low minimum deposit and bonus offers. Both brokers support Bank Transfer, Skrill, Neteller, and USDT, and offer Islamic accounts. While the local financial regulator does not oversee them, both hold reputable international licenses. If you prioritize low costs and speed, choose IC Markets; if you want flexibility and bonuses, go with XM Group.