IC Markets vs XM Group: Which Broker Suits Saudi Arabia Traders in 2026?

When comparing trading costs for Saudi Arabia traders, IC Markets holds a clear advantage with raw spreads from 0.0 pips on major pairs like EUR/USD, though a commission of $3.50 per lot per side applies. XM Group’s Zero account offers spreads from 0.6 pips with no commission, making it more cost-effective for smaller trades. For high-volume traders in Saudi Arabia, IC Markets’ lower spreads can result in significant savings—up to 30% less cost per trade on 10+ lots daily. XM Group’s standard account has spreads from 1.0 pips, which is higher but includes no commission. Both brokers offer competitive swap rates, but Islamic accounts eliminate overnight fees.

Both IC Markets and XM Group provide MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Saudi Arabia traders for their advanced charting and automated trading capabilities. IC Markets also offers cTrader, a platform with deeper liquidity and faster order execution, ideal for scalpers. XM Group adds its proprietary XM WebTrader, which is user-friendly and requires no download. For Saudi Arabia traders who trade on mobile, both brokers have robust apps, but IC Markets’ cTrader mobile app is more responsive for high-frequency trading.

IC Markets boasts superior execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data center and deep liquidity pool. This is critical for Saudi Arabia traders using scalping or high-frequency strategies. XM Group offers reliable execution but with occasional requotes during volatile markets. For fast, consistent fills, IC Markets is the clear leader.

IC Markets is regulated by top-tier bodies including ASIC (Australia) and CySEC (Cyprus), while XM Group is regulated by CySEC, IFSC (Belize), and ASIC. Neither broker is directly regulated by the local financial regulator in Saudi Arabia, but both accept Saudi clients and comply with international standards. This means Saudi Arabia traders have access to segregated client funds and negative balance protection from IC Markets, while XM Group offers additional investor compensation schemes under EU regulation. Always verify the specific entity you open an account with, as terms may vary by jurisdiction.

Depositing and withdrawing funds as a Saudi Arabia trader is straightforward with both IC Markets and XM Group. Both brokers support Bank Transfer, Skrill, Neteller, and USDT (Tether), which are popular in the region. IC Markets also accepts credit/debit cards and PayPal, while XM Group adds UnionPay and WebMoney. Minimum deposits are $200 for IC Markets and $5 for XM Group, making XM more accessible for beginners. Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 1-3 business days. IC Markets charges no withdrawal fees, but XM Group may apply a small fee for certain methods. Saudi Arabia traders should note that USDT deposits are processed on the TRC20 or ERC20 network, with network fees applicable.

Both IC Markets and XM Group offer Islamic (swap-free) accounts for Muslim traders in Saudi Arabia, ensuring no interest is charged or earned on overnight positions. IC Markets provides Islamic accounts on all account types (Standard, Raw Spread, and cTrader) with no additional fees, making it ideal for long-term traders. XM Group also offers swap-free accounts, but charges a small administrative fee on positions held beyond a certain period (usually 3-5 days) for some instruments. For Saudi Arabia traders seeking a fully compliant Islamic account with no hidden costs, IC Markets is the better choice.

XM Group offers 24/5 multilingual customer support with phone, live chat, and email, including Arabic language support, which is a major plus for Saudi Arabia traders. IC Markets also provides 24/7 support via live chat and email, but phone support is limited to business hours. Both brokers have comprehensive FAQ sections, but XM Group’s support is more accessible for Arabic-speaking clients.