IC Markets vs FXTM: A Complete Comparison for Chile Traders (2026)

When comparing trading costs for Chile traders, IC Markets has a clear advantage with spreads starting from 0.0 pips on its Raw Spread account, plus a commission of $3.50 per lot per side. FXTM’s spreads start from 1.5 pips on standard accounts and 0.1 pips on ECN accounts with higher commissions. For a Chile trader executing 10 standard lots per month, IC Markets can save up to $100 in spread costs compared to FXTM. Both brokers offer competitive swap rates, but IC Markets' lower spreads are particularly beneficial for active traders in Chile who trade volatile pairs like USD/CLP or EUR/USD.

Both IC Markets and FXTM offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by Chile traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform known for its depth of market and fast execution, ideal for scalpers. FXTM offers its proprietary WebTrader and mobile apps with integrated news and analysis. For Chile traders who need reliable platforms on desktop or mobile, both brokers deliver, but IC Markets’ cTrader gives an edge for those requiring advanced order types and transparency.

IC Markets is known for its ultra-fast execution speeds, averaging under 40ms, with no requotes and deep liquidity from multiple banks. FXTM also offers good execution with speeds around 100ms, but may have occasional slippage during volatile markets. For Chile traders trading during overlapping sessions (e.g., London-New York), IC Markets’ execution quality ensures better price accuracy, especially for scalping strategies. FXTM’s execution is reliable but not as competitive for high-frequency trading.

IC Markets is regulated by top-tier authorities including ASIC (Australia) and CySEC (Cyprus), while FXTM holds licenses from the FCA (UK), CySEC, and FSC (Mauritius). For Chile traders, neither broker is directly regulated by the local financial regulator, but both comply with international standards that offer protection such as negative balance protection and segregated accounts. The local financial regulator in Chile does not specifically oversee forex brokers, so traders rely on the brokers' international regulatory status. IC Markets’ ASIC regulation is particularly stringent, providing high trust for Chile traders.

Chile traders can fund their accounts at both IC Markets and FXTM using Bank Transfer, Skrill, Neteller, and USDT, all in USD. IC Markets requires a minimum deposit of $200, while FXTM’s minimum is just $10 for standard accounts, making FXTM more accessible. Deposits via Skrill and Neteller are instant, while Bank Transfers take 1-3 business days. Withdrawals are processed within 1-2 business days for e-wallets and 3-5 days for bank transfers. Neither broker charges fees for deposits or withdrawals, but third-party fees from your bank or payment provider may apply. USDT deposits are especially convenient for Chile traders using crypto, offering fast and low-cost transactions.

Both IC Markets and FXTM offer Islamic (swap-free) accounts to Chile Muslim traders who require accounts without overnight interest charges. IC Markets provides Islamic accounts upon request, with no swap fees on all instruments, but they may restrict trading on certain pairs during swap periods. FXTM offers Islamic accounts automatically for eligible clients, with similar conditions. For Chile traders, these accounts are available in USD and support all payment methods including Bank Transfer, Skrill, Neteller, and USDT. It's important to note that Islamic accounts may have higher spreads or limited leverage to compensate for the lack of swap income.

IC Markets offers 24/7 customer support via live chat, email, and phone, with response times under 5 minutes for live chat. FXTM provides 24/5 support with extended hours, including a multilingual team that can assist in Spanish, which is beneficial for Chile traders. Both brokers have comprehensive FAQ sections and account managers for VIP clients. For Chile traders, FXTM’s Spanish support is a slight edge, but IC Markets’ round-the-clock availability is better for active traders.