IC Markets vs XM Group: Malta Trader Comparison 2026

For Maltese traders, trading costs are a critical factor, especially for those who trade frequently or in high volumes. IC Markets offers spreads from 0.0 pips on its Raw Spread account, with a commission of $3.50 per lot round turn. This makes it highly competitive for scalpers and day traders. XM Group’s Ultra Low account starts at 0.6 pips with no commission, which is more cost-effective for smaller trades but becomes pricier for high-volume trading. On a standard lot of EUR/USD, IC Markets can save Maltese traders $5–$10 per trade compared to XM Group, depending on volume. Both brokers offer competitive swap rates, but IC Markets edges ahead for cost-conscious traders.

Both brokers support MetaTrader 4 and MetaTrader 5, which are widely used by Maltese traders for their reliability and advanced charting tools. IC Markets also offers cTrader, a platform favored for its intuitive interface and depth of market visibility, ideal for scalpers. XM Group provides its own XM WebTrader for browser-based trading, which is convenient for beginners. For mobile traders, both have robust apps. IC Markets’ cTrader mobile app is particularly strong for order management. Maltese traders who prioritize speed and customization will prefer IC Markets, while XM Group’s simplicity appeals to those new to forex.

IC Markets offers superior execution with average speeds under 40ms, using Equinix NY4 data centers and a no-dealing-desk (NDD) model. XM Group’s execution averages around 100ms, still reliable but slower. For scalpers and high-frequency traders in Malta, IC Markets is the clear winner.

Both IC Markets and XM Group are regulated by the Malta Financial Services Authority (MFSA), ensuring Maltese traders benefit from strict oversight, client fund segregation, and access to the Financial Ombudsman Service. IC Markets also holds licenses from ASIC and CySEC, while XM Group is regulated by the FCA and CySEC. For Maltese traders, MFSA regulation provides local protection, including negative balance protection and leverage limits (up to 1:30 for retail clients under ESMA rules). This makes both brokers safe choices, but XM Group’s additional FCA license adds an extra layer of security for UK-linked traders.

Maltese traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets requires a minimum deposit of $200, while XM Group has no minimum, making it more accessible for beginners. Deposits via Skrill or Neteller are processed instantly, and USDT deposits offer a crypto-friendly alternative with low fees. Withdrawals are typically processed within 24 hours for e-wallets and 2–5 business days for bank transfers. IC Markets charges no fees on deposits or withdrawals, while XM Group may apply a small fee on bank transfers. For Maltese traders, e-wallets are the fastest and most cost-effective option.

Both IC Markets and XM Group offer Islamic (swap-free) accounts for Maltese Muslim traders, complying with Sharia law by eliminating overnight interest charges. IC Markets’ Islamic accounts are available on all account types, but traders must verify eligibility and may lose swap-free status if holding positions for extended periods. XM Group provides Islamic accounts with no additional fees and a straightforward application process. For Maltese traders, XM Group’s policy is more transparent, while IC Markets offers more flexibility in account types. Both are reliable options for religious compliance.

Both brokers offer 24/5 customer support in English and Maltese, with live chat, email, and phone options. IC Markets’ support is known for fast response times (under 1 minute on live chat), while XM Group provides multilingual support and a comprehensive FAQ section. For Maltese traders, local language support is available, but IC Markets edges ahead for speed.