Quick Verdict — Indonesia 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 Indonesia 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
For Indonesia traders seeking reliable forex brokers in 2026, IC Markets and XM Group are two top-tier choices. IC Markets holds a 4.8/5 rating, while XM Group scores 4.7/5, both excelling in different areas. Indonesia traders face unique challenges like local payment methods and regulatory clarity. IC Markets is known for ultra-low spreads and fast execution, ideal for active traders. XM Group offers a lower minimum deposit of $5 and a wider range of local payment options including Bank Transfer, Skrill, Neteller, and USDT. Both brokers accept Indonesia clients and provide Islamic accounts. This comparison helps you choose based on your trading style, budget, and deposit preferences in Indonesia.
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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 Indonesia traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side. XM Group's Zero account has spreads from 0.6 pips with a lower commission of $5 per lot. For high-volume traders in Indonesia, IC Markets is cheaper per lot. XM Group's Standard account has spreads from 1.0 pips with no commission, suitable for smaller traders. Both brokers offer competitive costs, but IC Markets wins for scalpers and frequent traders in Indonesia.
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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 - Indonesia Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| Indonesia (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 Indonesia Traders
Traders in Indonesia 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 uses Equinix NY4 data centers for ultra-fast execution, averaging 40ms, ideal for scalping Indonesia traders. XM Group's execution is slightly slower at 50ms due to its No Dealing Desk model. Both offer low slippage, but IC Markets is preferred for high-frequency trading. For Indonesia traders, IC Markets' speed is a significant advantage for volatile markets like USD/IDR.
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Regulation & Safety for Indonesia 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. Neither broker is directly regulated by the local financial regulator (BAPPEBTI) in Indonesia. However, they comply with international standards and offer negative balance protection. For Indonesia traders, this means funds are held in segregated accounts, but no local deposit insurance applies.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Indonesia traders may differ by entity.
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Deposits & Withdrawals for Indonesia
| 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 |
Indonesia traders can deposit and withdraw using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets requires a minimum deposit of $200 via bank transfer or $50 via e-wallets. XM Group has a lower minimum of $5 for all methods. USDT deposits are processed within minutes at both brokers. Withdrawals are free at IC Markets, while XM Group charges a small fee for bank transfers. For Indonesia traders, XM Group's lower minimum and free e-wallet withdrawals are advantageous, while IC Markets is better for larger deposits.
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Islamic Accounts - Swap-Free for Indonesia 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 brokers offer Islamic (swap-free) accounts for Indonesia Muslim traders. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, with no additional fees. XM Group offers Islamic accounts on Standard and Micro accounts, but not on its Zero account. For Indonesia traders, IC Markets is more flexible as it covers all account types. Ensure you request the Islamic account during registration to comply with Sharia law.
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 |
IC Markets offers 24/7 customer support via live chat, email, and phone, with Indonesian language support available. XM Group also provides 24/5 support with Indonesian language options and a local phone number. Both have comprehensive FAQ sections. For Indonesia traders, XM Group's local phone support is more convenient, while IC Markets' 24/7 availability is better for night traders.
| 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? - Indonesia Guide
Choose IC Markets if you...
- Are a high-volume scalper needing tight spreads from 0.0 pips
- Prefer cTrader for advanced algorithmic trading
- Require 24/7 customer support with Indonesian language
- Want swap-free accounts on all account types
Choose XM Group if you...
- Are a beginner with a small deposit of $5
- Need more local payment options like Bank Transfer and USDT with no fees
- Prefer a wide range of educational resources
- Want a broker with a local phone support number in Indonesia
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FAQ - IC Markets vs XM Group in Indonesia
Is IC Markets or XM Group better for Indonesia?
+Can Indonesia traders use both brokers legally?
+Which broker has lower spreads for Indonesia traders?
+How do Indonesia traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for Indonesia?
+Final Verdict - Indonesia 2026
XM Group wins overall
Both IC Markets and XM Group are excellent for Indonesia traders, but the best choice depends on your needs. IC Markets (3.6/5) wins for tight spreads, fast execution, and advanced platforms, ideal for active traders. XM Group (4.3/5) is better for beginners with its low minimum deposit and extensive local payment options including Bank Transfer, Skrill, Neteller, and USDT. Neither is regulated by the local financial regulator, but both are reputable internationally. For Indonesia traders, XM Group offers more accessibility, while IC Markets delivers superior trading conditions. Consider your trading volume and deposit preferences when deciding.
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.
