IC Markets vs XM Group: Norway Trader Comparison 2026

For Norway traders, trading costs are a major factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $7 commission per lot round turn, making it ideal for high-volume traders. XM Group's Zero account has spreads from 0.6 pips with a $5 commission, while its Standard account is commission-free with spreads from 1.0 pips. Over a month of active trading, IC Markets can save Norway traders significant costs, especially on major forex pairs like EUR/NOK. XM Group is more affordable for smaller accounts due to lower minimum deposits and no commission on standard accounts.

Both brokers offer MetaTrader 4 and MetaTrader 5, which are popular among Norway traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform preferred for its ECN pricing and depth of market. XM Group adds its own XM WebTrader, which is accessible without downloads. For Norway traders, platform choice depends on trading style: cTrader suits scalpers, while MetaTrader is versatile for all strategies. Both brokers support mobile trading, ensuring you can trade on the go.

IC Markets uses ECN execution with no dealing desk, offering average execution speeds under 40ms and minimal slippage. XM Group uses STP execution with a dealing desk for some accounts, resulting in speeds around 100ms. For Norway traders who trade high volumes or use scalping strategies, IC Markets' faster execution is a clear advantage. XM Group's execution is reliable but better suited for swing traders and long-term positions.

IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus), while XM Group holds licenses from CySEC, FCA (UK), and ASIC. Neither broker is regulated by the local financial regulator in Norway, but they comply with European standards. For Norway traders, this means client funds are segregated and negative balance protection applies. XM Group's FCA regulation offers additional security, but IC Markets' focus on low-cost trading may appeal more to experienced traders. Always verify regulatory status before opening an account.

Norway traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets has a minimum deposit of $200, while XM Group requires only $5, making XM more accessible for new traders. Deposits are processed instantly for e-wallets and USDT, while bank transfers may take 1-3 business days. Withdrawals are free at both brokers, with e-wallet withdrawals processed within 24 hours. For Norway traders, USDT is a fast, low-cost option, especially for larger amounts. Both brokers support multiple currencies, including USD, EUR, and NOK.

Both IC Markets and XM Group offer Islamic (swap-free) accounts for Norway's Muslim traders. IC Markets provides swap-free accounts upon request, with no swap charges on overnight positions, but a small administrative fee may apply after a holding period. XM Group offers automatic swap-free accounts for clients from Muslim-majority countries, with no fees. For Norway traders, XM Group's policy is more straightforward, while IC Markets requires a request. Both comply with Sharia law by eliminating interest-based charges.

IC Markets offers 24/7 customer support via live chat, email, and phone, with fast response times. XM Group also provides 24/5 support in multiple languages, including Norwegian. XM Group's support is more comprehensive with dedicated account managers for VIP clients. For Norway traders, XM Group's localized support may be more helpful, though IC Markets' 24/7 availability is a plus for round-the-clock trading.