IC Markets vs FXTM: Which Broker is Better for Saudi Arabia Traders in 2026?

For Saudi Arabia traders, trading costs are a major factor, especially for those trading high volumes or using scalping strategies. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $7 per lot round turn. This is significantly lower than FXTM, where spreads start from 1.0 pips on standard accounts with no commission. Over 100 trades per month, IC Markets can save you $70–$100 in spread costs compared to FXTM. Both brokers offer competitive swap rates on Islamic accounts, but IC Markets’ lower spreads give it an edge for active traders.

Both brokers provide the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely used by Saudi traders for their advanced charting tools and algorithmic trading capabilities. IC Markets also offers cTrader, a platform known for its depth of market and fast execution, appealing to scalpers. FXTM provides its proprietary FXTM Trader app, which is beginner-friendly and offers social trading features. For Saudi traders using mobile devices, both platforms are optimized for iOS and Android, with Arabic language support available.

IC Markets is renowned for its fast execution speeds, averaging 40ms, and deep liquidity from top-tier banks. This is ideal for Saudi scalpers and high-frequency traders. FXTM’s execution is also reliable, with speeds around 100ms, but may experience slippage during volatile markets. Both brokers offer ECN/STP execution, but IC Markets has a slight edge in speed and consistency.

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 holds licenses from the Financial Conduct Authority (FCA) in the UK and the Financial Sector Conduct Authority (FSCA) in South Africa. Neither broker is regulated by the local financial regulator in Saudi Arabia, but their international licenses provide a layer of security. For Saudi traders, this means lower leverage limits (up to 1:30 under ESMA rules) but safer trading environments. Both brokers segregate client funds and offer negative balance protection.

Funding your trading account in Saudi Arabia is convenient with both IC Markets and FXTM. They accept Bank Transfer (local and international), Skrill, Neteller, and USDT (Tether). IC Markets has a minimum deposit of $200, while FXTM allows deposits as low as $10. Withdrawals are processed quickly: e-wallets like Skrill and Neteller take 1–24 hours, while USDT and Bank Transfer may take 1–3 business days. No deposit fees are charged by either broker, but Bank Transfer may incur intermediary bank fees. For Saudi traders using USDT, both brokers support TRC-20 and ERC-20 networks, with low transaction costs.

Both IC Markets and FXTM offer Islamic (swap-free) accounts for Saudi Muslim traders who wish to comply with Sharia law. These accounts eliminate interest (swap) on overnight positions, allowing traders to hold positions for longer without incurring riba. IC Markets provides Islamic accounts on all account types, including Raw Spread and Standard, with no additional fees. FXTM also offers swap-free accounts, but they may charge a small administration fee after a certain holding period (e.g., 10 days). For long-term traders in Saudi Arabia, IC Markets’ Islamic account is more cost-effective.

Customer support is available 24/5 from both brokers, with live chat, email, and phone options. IC Markets offers support in Arabic, which is helpful for Saudi traders. FXTM also provides multilingual support, including Arabic, and has a dedicated regional team for the Middle East. Response times are fast, typically under 5 minutes via live chat.