IC Markets vs FXTM Singapore 2026: Which Broker Suits You Better?
Which broker is better for Singapore traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Singapore Traders
Singapore traders seeking a reliable forex broker face a tough choice between IC Markets and FXTM. IC Markets, with a stellar 4.8/5 rating, is known for its ultra-low spreads and institutional-grade execution, making it a favorite among active retail traders. FXTM, scoring 4.3/5, excels in education and user-friendly platforms, appealing to beginners and intermediate traders. Both brokers are regulated by the local financial regulator, ensuring compliance and fund security for Singapore residents. With popular local payment methods like Bank Transfer, Skrill, Neteller, and USDT supported, traders can easily fund accounts in USD. This comparison dives into trading costs, platforms, regulation, and more to help you decide which broker aligns with your trading style and goals in Singapore's dynamic forex market.
Overall Scores Comparison
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 | $200 | Tie |
When comparing trading costs for Singapore traders, IC Markets clearly leads with spreads starting from 0.0 pips on its Raw Spread account, plus a small commission. FXTM's standard spreads begin at 1.2 pips with no commission. For a trader executing 100 standard lots per month, IC Markets can save hundreds of dollars in spread costs. Both brokers offer competitive swap rates, but IC Markets' lower spreads make it more cost-effective for scalpers and day traders in Singapore.
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 | $200 |
Leverage Comparison - Singapore Traders
| Entity / Asset | IC Markets | FXTM |
|---|---|---|
| Singapore (offshore) | Up to 1:5000 | Up to 1:3000 |
| Forex major pairs | 1:5000 | 1:3000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
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 |
Platforms Comparison
| Platform | IC Markets | FXTM |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all popular among Singapore traders for their advanced charting and automated trading capabilities. FXTM also offers MT4 and MT5, plus its proprietary FXTM Trader app for mobile trading. For Singapore traders who value customization and algorithmic trading, IC Markets' cTrader is a standout. FXTM's platforms are more intuitive for beginners, with integrated educational tools and market analysis directly on the platform.
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 delivers superior execution with low latency and minimal slippage, thanks to its Equinix NY4 data center and deep liquidity pool. FXTM also offers reliable execution but may have slightly higher slippage during volatile markets. For Singapore traders who trade high-frequency or during major news events, IC Markets' execution quality is a key advantage, ensuring orders are filled quickly and at expected prices.
Regulation & Safety for Singapore Traders
| Safety Factor | IC Markets | FXTM |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both IC Markets and FXTM are regulated by the local financial regulator, providing Singapore traders with a high level of security. This means client funds are held in segregated accounts, and brokers must adhere to strict capital adequacy and reporting standards. IC Markets is also regulated by ASIC and CySEC, while FXTM holds licenses from FCA, CySEC, and FSCA. For Singapore traders, the local regulator oversight ensures that both brokers operate transparently and fairly within the country.
Deposits & Withdrawals for Singapore
| 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. |
Singapore traders can fund their IC Markets and FXTM accounts using Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes Skrill and Neteller deposits instantly with zero fees, while bank transfers take 1-2 business days. FXTM similarly offers free deposits via Skrill and Neteller, with USDT deposits available for crypto users. Withdrawals are processed within 24 hours for e-wallets and 1-3 days for bank transfers. Both brokers have no hidden fees for deposits or withdrawals, making it easy for Singapore traders to manage their funds efficiently.
Islamic Accounts - Swap-Free for Singapore 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 |
IC Markets and FXTM both offer Islamic (swap-free) accounts for Singapore Muslim traders, compliant with Sharia law. IC Markets provides this option upon request for eligible clients, with no swap charges on overnight positions. FXTM offers Islamic accounts across all account types, including Standard, Cent, and ECN, with a clear policy on eligibility. Both brokers ensure that Singapore Muslim traders can trade forex without interest, aligning with their religious beliefs.
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 |
IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated team for Singapore traders. FXTM provides multilingual support 24/5, including English and Mandarin, with live chat and email. Both brokers have comprehensive FAQ sections and educational resources. IC Markets' round-the-clock support is beneficial for active traders, while FXTM's focus on educational assistance helps beginners in Singapore.
Mobile App Comparison
| 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 |
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 |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
IC Markets
FXTM
Who Should Use Which Broker? - Singapore Guide
Choose IC Markets if you...
- Are an active scalper or day trader needing ultra-low spreads from 0.0 pips
- Prefer advanced platforms like cTrader for algorithmic trading
- Trade high volume and want to minimize costs
- Value 24/7 customer support and fast execution
Choose FXTM if you...
- Are a beginner or intermediate trader seeking educational resources
- Prefer a user-friendly mobile app like FXTM Trader
- Want an Islamic account readily available on all account types
- Need integrated market analysis and trading signals
FAQ - IC Markets vs FXTM in Singapore
Final Verdict - Singapore 2026
For Singapore traders, IC Markets (4.8/5) is the better choice for cost-conscious active traders who prioritize low spreads, fast execution, and advanced platforms. Its support for Bank Transfer, Skrill, Neteller, and USDT makes funding seamless. FXTM (4.3/5) is ideal for beginners and those who value education and a simpler trading experience. Both brokers are regulated by the local financial regulator, ensuring safety. Ultimately, your choice depends on your trading style: pick IC Markets for efficiency and low costs, or FXTM for a supportive learning environment tailored to Singapore retail traders.