Quick Verdict — Brazil Traders
Best Overall
FXTM
Higher overall score & more features
Best Spreads
FXTM
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Brazil Muslims
Best for Beginners
FXTM
Better education & support
1:5000 vs 1:5000
Max leverage
Head-to-head comparison
Brazil traders seeking a reliable forex broker often compare IC Markets and FXTM, two globally recognized brands with strong appeal in the Brazilian market. IC Markets, rated 4.8/5, is known for its ultra-tight spreads and institutional-grade execution, making it a top choice for active traders. FXTM, rated 4.3/5, offers a more educational approach with robust support for beginners. Both brokers accept Brazilian clients and support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, ensuring easy deposits and withdrawals in USD. With the local financial regulator overseeing international brokers, Brazilian traders can choose based on their trading style—IC Markets for cost efficiency or FXTM for comprehensive learning tools. This comparison covers spreads, platforms, regulation, and deposit options tailored to Brazil.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
VS
FXTM
FCA · CySEC · FSCA
3.7
CompareBroker score
Winner
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IC Markets | FXTM | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | FXTM |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | FXTM |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | FXTM |
| Standard acc spread | from 1.0 pips | from 0.8 pips | FXTM |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $50 | IC Markets |
For Brazil traders, trading costs are a critical factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.50 commission per lot, resulting in total costs as low as $3.50 per round turn. FXTM’s Standard account has spreads from 1.0 pips with no commission, costing about $10 per lot. For a Brazilian trader executing 50 lots per month, IC Markets saves approximately $325 in spreads. While FXTM’s zero-commission model appeals to beginners, high-volume traders in Brazil benefit significantly from IC Markets’ lower costs.
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Account Types Comparison
| Account Type | IC Markets | FXTM |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✗ |
| Copy trading | ✗ | ✓ |
| Min deposit | $200 | $50 |
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Leverage Comparison - Brazil Traders
| Entity / Asset | IC Markets | FXTM |
|---|
| Brazil (offshore) | Up to 1:5000 | Up to 1:5000 |
| Forex major pairs | 1:5000 | 1:5000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Brazil Traders
Traders in Brazil typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IC Markets | FXTM | 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+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | FXTM |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | FXTM | Winner |
|---|
| Execution model | ECN/STP | True ECN | FXTM |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets offers raw spreads and ECN execution with average execution speeds under 40ms, ideal for scalpers and high-frequency traders in Brazil. FXTM uses a hybrid model with dealing desk and no-dealing desk execution, resulting in speeds around 100ms. For Brazil traders trading major pairs like USD/BRL, IC Markets’ lower slippage and faster fills reduce costs. FXTM’s execution is reliable but slower, suiting day traders rather than scalpers.
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Regulation & Safety for Brazil Traders
| Safety Factor | IC Markets | FXTM |
|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets Global is not
FCA-authorised — the FCA has issued a public warning about this entity, and its clients do not have FOS or FSCS protection; verify the specific entity and licence before depositing. For Brazil traders, neither broker is directly overseen by the local financial regulator, but both comply with international standards, offering negative balance protection and segregated accounts. This regulatory framework provides a safety net for Brazilian clients, though traders should verify each broker’s license for their region.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Brazil traders may differ by entity.
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Deposits & Withdrawals for Brazil
| Payment Method | IC Markets | FXTM |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 24 hours (often in 30 minutes),Credit / Debit Cards (Visa, Mastercard): 1 to 3 business days. |
Brazil traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets has a minimum deposit of $50, while FXTM requires only $10, making FXTM more accessible. Deposits via Skrill and Neteller are instant, and USDT (Tether) offers a crypto alternative with low fees. Withdrawals are processed within 1-2 business days for e-wallets and USDT, while Bank Transfer may take 3-5 days. IC Markets charges no deposit fees, but FXTM may apply a small fee for certain methods. Both brokers support BRL conversion via their payment partners, though USD is the base currency.
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Islamic Accounts - Swap-Free for Brazil Muslims
| Islamic Account Feature | IC Markets | FXTM |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Islamic (swap-free) accounts are available at both brokers for Brazil Muslim traders. IC Markets offers Islamic accounts on its Standard and Raw Spread accounts, with no swap fees on overnight positions, though some instruments may incur a small administrative fee after a holding period. FXTM provides swap-free accounts upon request, with restrictions on certain forex pairs and commodities. Both brokers require proof of Muslim faith for eligibility. For Brazilian traders seeking Sharia-compliant trading, IC Markets’ policy is more flexible with fewer restrictions.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IC Markets | FXTM | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
Customer support is available 24/5 via live chat, email, and phone for both brokers. IC Markets offers multilingual support including Portuguese, which is a major advantage for Brazil traders. FXTM also provides Portuguese support but with slightly longer response times during peak hours. Both brokers have comprehensive FAQ sections on their websites. IC Markets’ faster response and dedicated Brazilian account managers give it an edge.
| Mobile Feature | IC Markets | FXTM | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
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Education & Research Tools
| Resource | IC Markets | FXTM | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
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Real User Reviews - Trustpilot
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Pros & Cons of Each Broker
IC Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-$200 min deposit
-No 24/7 support
FXTM
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - Brazil Guide
Choose IC Markets if you...
- Are a high-volume trader needing tight spreads from 0.0 pips.
- Prefer ECN execution for scalping or algorithmic trading.
- Want access to cTrader for advanced charting.
- Need Portuguese-speaking support and fast withdrawals via USDT.
Choose FXTM if you...
- Are a beginner trader seeking educational resources and demo accounts.
- Have a small account (minimum $10 deposit) to start trading.
- Value a user-friendly mobile app for trading on the go.
- Prefer zero-commission accounts with simpler cost structures.
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FAQ - IC Markets vs FXTM in Brazil
Is IC Markets or FXTM better for Brazil?
+Can Brazil traders use both brokers legally?
+Which broker has lower spreads for Brazil traders?
+How do Brazil traders deposit at IC Markets and FXTM?
+Do both brokers offer Islamic accounts for Brazil?
+Final Verdict - Brazil 2026
FXTM wins overall
For Brazil traders, IC Markets (3.6/5) is the superior choice for cost-conscious, active traders who prioritize low spreads and fast execution. Its support for Bank Transfer, Skrill, Neteller, and USDT ensures flexible deposits, while its ASIC regulation adds trust. FXTM (3.7/5) is better for beginners or those with smaller budgets, thanks to its low minimum deposit and educational tools. Both brokers are legally accessible in Brazil, but consider your trading volume and experience. IC Markets wins on value, FXTM on accessibility. Always verify the local financial regulator’s guidelines for international brokers.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
