Quick Verdict — Paraguay 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 Paraguay 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 Paraguay traders looking to enter the forex market in 2026, choosing the right broker is crucial. IC Markets and XM Group are two leading global brokers that cater to retail traders in Paraguay, offering competitive trading conditions and local payment methods. IC Markets, with a 4.8/5 rating, is renowned for its ultra-low spreads and fast execution, appealing to active traders. XM Group, scoring 4.7/5, is known for its user-friendly platforms, extensive educational resources, and a lower minimum deposit. Both brokers support Bank Transfer, Skrill, Neteller, and USDT for deposits and withdrawals, making them accessible for Paraguayans. While the local financial regulator does not directly oversee these brokers, they operate under respected international licenses, ensuring a secure trading environment. This comparison helps Paraguay traders decide which broker aligns with their trading style and local needs.
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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 |
When comparing trading costs for Paraguay traders, IC Markets offers lower spreads, starting from 0.0 pips on its Raw Spread account with a $3.50 commission per lot. XM Group’s Zero account has spreads from 0.6 pips with a $5 commission, while its standard account has spreads from 1.0 pips with no commission. For high-volume traders in Paraguay, IC Markets is more cost-effective, especially for strategies like scalping. XM Group’s standard account suits beginners who prefer fixed spreads. Overall, IC Markets provides better value for cost-conscious traders.
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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 - Paraguay Traders
| Entity / Asset | IC Markets | XM Group |
|---|
| Paraguay (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 Paraguay Traders
Traders in Paraguay 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 offers ultra-fast execution with an average speed of 40ms, using Equinix NY4 servers, ideal for scalping and high-frequency trading. XM Group provides fast execution with an average of 100ms, sufficient for most retail traders. For Paraguay traders who prioritize speed, IC Markets is superior, while XM Group’s execution is reliable for standard trading strategies.
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Regulation & Safety for Paraguay 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.
XM Group is regulated by
CySEC,
ASIC, and
IFSC (Belize), with similar safety measures. While the local financial regulator in Paraguay does not oversee these brokers, their international licenses ensure reliable oversight.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Paraguay traders may differ by entity.
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Deposits & Withdrawals for Paraguay
| 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 |
Depositing and withdrawing funds is straightforward for Paraguay traders at both brokers. IC Markets and XM Group accept Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes deposits instantly via e-wallets and USDT, with no fees. Bank transfers may take 1-3 business days. XM Group also offers fee-free deposits with instant processing for Skrill and Neteller. USDT deposits are supported via Tether (ERC20/TRC20). Withdrawals are processed quickly—IC Markets typically within 24 hours for e-wallets, while XM Group processes within 1 business day. Both brokers ensure smooth transactions for Paraguayans.
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Islamic Accounts - Swap-Free for Paraguay 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 |
For Paraguay Muslim traders requiring Sharia-compliant accounts, both IC Markets and XM Group offer Islamic (swap-free) accounts. IC Markets provides swap-free accounts on its Standard and Raw Spread accounts, with no interest charged on overnight positions. XM Group offers Islamic accounts on all account types, including standard and zero accounts, with no additional fees. Both brokers require a simple request to activate the account. Paraguay traders can trade without worrying about swap fees, aligning with Islamic finance principles.
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 |
Both brokers offer 24/5 customer support in English, with XM Group providing multilingual support including Spanish, which is beneficial for Paraguay traders. IC Markets support is via live chat, email, and phone, while XM Group also offers phone support and a comprehensive FAQ. Response times are quick for both, but XM Group’s Spanish support may be more convenient for local 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? - Paraguay Guide
Choose IC Markets if you...
- Are a scalper or high-volume trader needing tight spreads from 0.0 pips.
- Prefer fast execution with low latency for active trading.
- Want access to cTrader in addition to MetaTrader platforms.
- Are comfortable with a higher minimum deposit ($200) for raw spreads.
Choose XM Group if you...
- Are a beginner looking for a low minimum deposit ($5) and educational resources.
- Need Spanish-language support and a user-friendly platform.
- Prefer fixed spreads on standard accounts for predictable costs.
- Want Islamic accounts on all account types with easy activation.
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FAQ - IC Markets vs XM Group in Paraguay
Is IC Markets or XM Group better for Paraguay?
+Can Paraguay traders use both brokers legally?
+Which broker has lower spreads for Paraguay traders?
+How do Paraguay traders deposit at IC Markets and XM Group?
+Do both brokers offer Islamic accounts for Paraguay?
+Final Verdict - Paraguay 2026
XM Group wins overall
For Paraguay traders in 2026, IC Markets is the better choice for active traders seeking low costs and fast execution, supported by Bank Transfer, Skrill, Neteller, and USDT deposits. XM Group is ideal for beginners and those who value educational tools and Spanish support. Both brokers operate under strong international regulators, ensuring safety despite no direct local regulation. Consider your trading volume and experience: IC Markets for scalping, XM Group for learning. Ultimately, IC Markets’ 4.8 rating reflects its superior cost efficiency, while XM Group’s 4.7 rating highlights its accessibility. Paraguay traders can confidently choose based on their priorities.
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.
