Quick Verdict — Norway 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 Norway 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 Norway traders in 2026, choosing between IC Markets and XM Group is a critical decision. Both brokers are highly rated—IC Markets with a 3.6/5 score and XM Group at 4.7/5—but they cater to different trading styles. IC Markets is known for its raw spreads and ECN execution, ideal for scalpers and algo traders. XM Group offers a more beginner-friendly platform with lower minimum deposits and extensive educational resources. Norway traders benefit from local payment methods like Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals seamless. Both brokers accept Norwegian clients, though neither is regulated by the local financial regulator, relying instead on international licenses. This comparison covers spreads, platforms, regulation, and deposit options to help you decide.
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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 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.
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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 - Norway Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| Norway (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 Norway Traders
Traders in Norway 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 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.
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Regulation & Safety for Norway 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 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. 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.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Norway traders may differ by entity.
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Deposits & Withdrawals for Norway
| 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 |
Norway traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets has a minimum deposit of $5, 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.
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Islamic Accounts - Swap-Free for Norway 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 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.
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 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.
| 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 |
📚
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? - Norway Guide
Choose IC Markets if you...
- Are a high-volume trader looking for raw spreads from 0.0 pips
- Prefer ECN execution with low latency for scalping or algo trading
- Use cTrader or MetaTrader and need advanced charting tools
- Have a larger deposit (minimum $5) and trade major forex pairs like EUR/NOK
Choose XM Group if you...
- Are a beginner or retail trader with a small account (minimum $5)
- Want commission-free trading on standard accounts
- Need educational resources and dedicated account managers
- Prefer local payment methods like Bank Transfer, Skrill, Neteller, or USDT with lower minimums
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FAQ - IC Markets vs XM Group in Norway
Is IC Markets or XM Group better for Norway?
+Can Norway traders use both brokers legally?
+Which broker has lower spreads for Norway traders?
+How do Norway traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for Norway?
+Final Verdict - Norway 2026
XM Group wins overall
For Norway traders in 2026, both IC Markets and XM Group are excellent choices, but the best fit depends on your trading style. IC Markets wins on cost and execution, making it ideal for active traders who want low spreads and fast order fills. XM Group offers greater accessibility with its low minimum deposit, educational tools, and broader payment options including Bank Transfer, Skrill, Neteller, and USDT. Neither broker is regulated by the local financial regulator, but both operate under strong international oversight. If you trade high volumes, go with IC Markets; if you're starting or prefer a supportive environment, XM Group is the better choice.
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.
