Quick Verdict — North Macedonia 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 North Macedonia 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 North Macedonia traders seeking a reliable forex broker, IC Markets and XM Group are two top-tier choices in 2026. Both brokers accept clients from North Macedonia and support local payment methods including Bank Transfer, Skrill, Neteller, and USDT. IC Markets boasts a 4.8/5 rating, known for ultra-low spreads and institutional-grade execution, while XM Group (4.3/5) excels in user-friendliness and educational resources. The local trading environment in North Macedonia favors brokers with flexible deposit options and strong regulatory oversight, though neither is directly regulated by the local financial regulator. This comparison helps retail traders in Skopje, Bitola, and beyond decide which broker aligns with their trading style, whether scalping, swing trading, or long-term investing.
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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 |
IC Markets offers lower spreads, starting from 0.0 pips on its Raw Spread account with a $3.50 commission per lot, making it ideal for high-volume North Macedonia traders. XM Group has standard spreads from 0.6 pips with no commission, which is cost-effective for smaller trades. For a North Macedonia trader executing 10 standard lots per month in USD pairs, IC Markets can save up to 30% on total costs compared to XM Group. However, XM Group’s zero-fee deposits and withdrawals compensate for slightly higher spreads, especially for beginners.
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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 - North Macedonia Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| North Macedonia (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 North Macedonia Traders
Traders in North Macedonia 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 provides true ECN execution with no dealing desk intervention, offering average execution speeds under 40ms. XM Group uses a hybrid model with some market-making elements, resulting in slightly slower execution (around 100ms). For scalpers and algorithmic traders in North Macedonia, IC Markets’ execution is superior, while XM Group is adequate for manual traders.
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Regulation & Safety for North Macedonia 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 regulated by North Macedonia's local financial regulator, but both comply with EU standards via
CySEC, offering negative balance protection and investor compensation funds.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for North Macedonia traders may differ by entity.
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Deposits & Withdrawals for North Macedonia
| 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 |
North Macedonia traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets requires a minimum deposit of $5, while XM Group allows as little as $5. XM Group processes Skrill and Neteller deposits instantly with no fees, and USDT deposits are also fast. IC Markets supports the same methods but may charge a small fee for bank transfers. Withdrawals are typically processed within 1-2 business days via Skrill/Neteller and 3-5 days via bank transfer. USDT withdrawals are available at both, offering a crypto-friendly option for North Macedonia users.
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Islamic Accounts - Swap-Free for North Macedonia 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 North Macedonia. IC Markets provides swap-free accounts on all account types (Standard, Raw Spread, cTrader) with no swap charges on overnight positions. XM Group offers Islamic accounts on Micro and Standard accounts, with a condition that positions held longer than 7 days may incur a fee. North Macedonia traders should review each broker’s policy to avoid unexpected charges, especially for long-term trades.
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 |
XM Group offers 24/5 multilingual support via live chat, phone, and email, with dedicated teams for Balkan regions including North Macedonia. IC Markets provides 24/7 live chat and email support but lacks regional language support. For North Macedonia traders, XM Group’s customer service is more accessible, though IC Markets’ round-the-clock availability benefits those trading after-hours.
| 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? - North Macedonia Guide
Choose IC Markets if you...
- Are a scalper or high-frequency trader needing ultra-low spreads and fast execution
- Prefer advanced platforms like cTrader alongside MT4/MT5
- Trade large volumes and want to minimize trading costs
- Need 24/7 customer support for after-hours trading
Choose XM Group if you...
- Are a beginner or low-volume trader wanting a low minimum deposit ($5)
- Prefer zero deposit/withdrawal fees and instant processing
- Value local language support and educational resources
- Want a more straightforward platform with no commission on trades
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FAQ - IC Markets vs XM Group in North Macedonia
Is IC Markets or XM Group better for North Macedonia?
+Can North Macedonia traders use both brokers legally?
+Which broker has lower spreads for North Macedonia traders?
+How do North Macedonia traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for North Macedonia?
+Final Verdict - North Macedonia 2026
XM Group wins overall
For North Macedonia traders, IC Markets edges ahead with a 3.6/5 score due to lower spreads and superior execution, ideal for active traders. XM Group (4.3/5) is better for beginners and those prioritizing low deposit requirements and local support. Both support Bank Transfer, Skrill, Neteller, and USDT, and are not regulated by the local financial regulator but hold reputable international licenses. Ultimately, your choice depends on trading volume and experience: IC Markets for cost efficiency, XM Group for simplicity and accessibility.
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.
