IC Markets vs FXTM for Norway Traders (2026)

When comparing trading costs for Norway traders, IC Markets has a clear advantage with spreads starting from 0.0 pips on its Raw Spread account, plus a low commission of $3.50 per lot. FXTM’s standard account spreads start from 1.3 pips, making it more expensive for high-volume traders. For a Norway trader executing 10 lots per month on EUR/USD, IC Markets could save around $150 in spreads compared to FXTM. Additionally, IC Markets offers lower swap rates, which is beneficial for traders holding positions overnight. FXTM does have promotional zero-spread accounts but with conditions, so IC Markets remains the more cost-effective option for consistent trading.

Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Norway traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform known for its deep liquidity and fast execution, favoured by scalpers and algorithmic traders. FXTM offers its proprietary FXTM Trader app, which is beginner-friendly and includes integrated educational tools. For Norway traders who value speed and customisation, IC Markets’ cTrader is a standout. FXTM’s platform suite is more accessible for those new to forex trading but lacks the advanced features that experienced traders demand.

IC Markets is known for its ultra-fast execution with an average speed of 40ms, making it ideal for scalpers and high-frequency traders in Norway. FXTM’s execution speed is around 100ms, which is still fast but not as competitive. IC Markets uses Equinix NY4 servers for low latency, while FXTM relies on London-based servers. For Norway traders, IC Markets’ execution quality is superior, especially during volatile market conditions.

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), offering strong investor protection. FXTM is regulated by the Financial Conduct Authority (FCA) in the UK and CySEC, providing additional safeguards. Neither broker is regulated by the local Norwegian financial regulator (Finanstilsynet), meaning they operate under European or international licenses. For Norway traders, this means you still have access to negative balance protection and compensation schemes (e.g., FSCS for FXTM’s UK clients). However, you should ensure your chosen broker’s license meets your risk tolerance and consider using a local payment method like Bank Transfer for added security.

Depositing and withdrawing funds is straightforward for Norway traders at both brokers. IC Markets supports Bank Transfer, Skrill, Neteller, and USDT with no deposit fees and instant processing for e-wallets and crypto. Withdrawals are processed within 24 hours for e-wallets and 1-3 business days for bank transfers. FXTM also accepts these methods but has a minimum deposit of $10 for e-wallets and $50 for bank transfers. For Norway traders, using Skrill or Neteller is convenient due to low fees and fast processing. USDT deposits are ideal for crypto-savvy traders wanting anonymity. Both brokers offer free withdrawals, but FXTM may charge a small fee for certain methods. Overall, IC Markets has a slight edge with lower minimum deposits and faster processing times.

Both IC Markets and FXTM offer Islamic (swap-free) accounts for Norway Muslim traders who need to comply with Sharia law. IC Markets provides Islamic accounts on all account types, including Raw Spread and Standard, with no swap fees on overnight positions. FXTM offers Islamic accounts on its standard accounts only, with conditions such as no long-term holding beyond a certain period. Both brokers require a valid reason for opening an Islamic account, such as a declaration of faith. For Norway traders, IC Markets offers more flexibility and lower costs, as its swap-free accounts are available on the lowest spread options. FXTM’s Islamic accounts are suitable for beginners but may have more restrictions on trading strategies.

IC Markets offers 24/7 customer support via live chat, email, and phone, with quick response times. FXTM provides multilingual support in Norwegian and English, with a dedicated account manager for VIP clients. For Norway traders, FXTM’s Norwegian-language support can be a significant advantage for resolving queries quickly. However, IC Markets’ support is more responsive for technical issues. Both brokers have comprehensive FAQ sections on their websites.