Quick Verdict — Brunei Traders
Best Overall
XM Group
Higher overall score & more features
Best Spreads
XM Group
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Brunei Muslims
Best for Beginners
XM Group
Better education & support
1:5000 vs 1:1000
Max leverage
ASIC vs CySEC
Top regulator
Head-to-head comparison
Brunei traders seeking a reliable forex broker in 2026 often compare IC Markets and XM Group, two globally recognized names with strong reputations. IC Markets boasts a 4.8/5 rating, excelling in low-cost trading and advanced platforms, while XM Group holds a 4.7/5 rating, known for its user-friendly approach and extensive educational resources. For Brunei-based retail traders, factors like local payment methods—Bank Transfer, Skrill, Neteller, and USDT—and regulatory comfort matter greatly. Both brokers accept clients from Brunei and offer trading in USD, the preferred currency for many local traders. IC Markets appeals to those who prioritize tight spreads and high-speed execution, whereas XM Group attracts beginners and those who value a lower minimum deposit and no withdrawal fees. This comparison breaks down their offerings specifically for Brunei traders, helping you choose the right partner for your trading journey.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
VS
XM Group
CySEC · ASIC · IFSC
4.3
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 | XM Group | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $5 | IC Markets |
For Brunei traders, trading costs can significantly impact profitability, especially for those trading high volumes. IC Markets offers raw spreads from 0.0 pips on its Raw Spread account, with a commission of $3.50 per lot per side, making it ideal for scalpers and day traders. XM Group’s Zero account starts from 0.6 pips with no commission, while its Standard account has spreads from 1.0 pip. For a Brunei trader executing 10 lots per week, IC Markets can save up to $20-$30 in spread costs compared to XM. However, XM’s no-commission structure suits lower-volume traders who prefer predictable costs.
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Account Types Comparison
| Account Type | IC Markets | XM Group |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $5 |
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Leverage Comparison - Brunei Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| Brunei (offshore) | Up to 1:5000 | Up to 1:1000 |
| Forex major pairs | 1:5000 | 1:1000 |
| 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 Brunei Traders
Traders in Brunei 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 | XM Group | 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+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | XM Group | Winner |
|---|
| Execution model | ECN/STP | True ECN | XM Group |
| 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 is known for its ultra-fast execution speeds, averaging under 40ms, ideal for Brunei scalpers and high-frequency traders. XM Group offers reliable execution with speeds around 100ms, which is still competitive for most retail traders. Both brokers use No Dealing Desk (NDD) execution, ensuring no requotes. For Brunei traders focused on precision, IC Markets’ lower latency is a clear advantage.
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Regulation & Safety for Brunei Traders
| Safety Factor | IC Markets | XM Group |
|---|
| Primary regulator | ASIC | ASIC |
| 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 Brunei traders, these top-tier regulators provide strong investor protection, including negative balance protection. However, Brunei’s local financial regulator does not directly oversee these brokers, so traders should verify broker credentials and ensure they operate legally in the country.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Brunei traders may differ by entity.
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Deposits & Withdrawals for Brunei
| Payment Method | IC Markets | XM Group |
|---|
| 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 | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
Brunei traders can deposit and withdraw funds at both brokers using Bank Transfer, Skrill, Neteller, and USDT. IC Markets requires a minimum deposit of $5, while XM Group starts at just $5, making XM more accessible for new traders. Deposits via Skrill and Neteller are instant and fee-free, while Bank Transfer may take 1-3 business days and could incur bank charges. USDT deposits are processed quickly via blockchain, ideal for crypto-savvy Brunei traders. Withdrawals at IC Markets are processed within 1 business day, while XM Group offers same-day processing for e-wallets. Both brokers do not charge internal fees for withdrawals, but bank transfers may have intermediary fees.
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Islamic Accounts - Swap-Free for Brunei Muslims
| Islamic Account Feature | IC Markets | XM Group |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and XM Group offer Islamic (swap-free) accounts for Muslim traders in Brunei, in compliance with Sharia law. IC Markets provides swap-free accounts upon request, with no overnight interest on forex and major CFDs, but some instruments may incur a fee after a holding period. XM Group also offers Islamic accounts automatically upon request, with a similar policy. For Brunei Muslim traders, both brokers are suitable, but XM’s faster account setup may be more convenient. It’s advisable to check the latest terms for specific instruments to avoid unexpected charges.
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 | XM Group | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
Both brokers offer 24/5 customer support via live chat, email, and phone, with English-speaking agents available for Brunei traders. IC Markets provides faster response times during peak hours, while XM Group offers multilingual support and a comprehensive FAQ section. For Brunei traders, both are reliable, but XM’s support is slightly more beginner-friendly with longer availability on weekends.
| Mobile Feature | IC Markets | XM Group | 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 | XM Group | 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
XM Group
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - Brunei Guide
Choose IC Markets if you...
- Are a scalper or day trader needing tight spreads from 0.0 pips
- Trade high volumes and want low commissions per lot
- Prefer advanced platforms like cTrader for technical analysis
- Can meet the $200 minimum deposit with Bank Transfer, Skrill, Neteller, or USDT
Choose XM Group if you...
- Are a beginner or low-volume trader with a small starting capital
- Want a user-friendly platform with no withdrawal fees
- Value a lower minimum deposit of $5 via e-wallets
- Need a swap-free Islamic account with simple setup
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FAQ - IC Markets vs XM Group in Brunei
Is IC Markets or XM Group better for Brunei?
+Can Brunei traders use both brokers legally?
+Which broker has lower spreads for Brunei traders?
+How do Brunei traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for Brunei?
+Final Verdict - Brunei 2026
XM Group wins overall
For Brunei traders in 2026, the choice between IC Markets and XM Group depends on your trading style and budget. IC Markets wins on low spreads, execution speed, and advanced platforms, making it ideal for active traders who can meet the $200 minimum deposit via Bank Transfer, Skrill, Neteller, or USDT. XM Group excels with a $5 minimum deposit, no withdrawal fees, and beginner-friendly support, perfect for new traders or those with smaller capital. Both brokers are regulated by top-tier authorities and offer Islamic accounts, ensuring safety and compliance for Brunei Muslims. Consider your volume and experience level—IC Markets for cost efficiency, XM Group for accessibility. Always check with Brunei’s local financial regulator for any updates on international broker usage.
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.
