IC Markets vs XM Group: Which Broker is Best for Sweden Traders in 2026?

For Sweden traders, trading costs are a critical factor. IC Markets offers spreads starting from 0.0 pips on its Raw Spread account with a commission of $7 per lot round turn. XM Group's spreads start from 0.6 pips on its Zero account with a commission of $5 per lot, but standard accounts can have spreads as high as 1.6 pips. On a typical 10-lot trade per month, IC Markets can save Sweden traders around $20–$40 in spreads compared to XM Group. For scalpers and day traders in Sweden, IC Markets is more cost-effective, while XM Group may suit those who prefer no-commission accounts with slightly higher spreads.

Both IC Markets and XM Group offer MetaTrader 4 and MetaTrader 5, which are popular among Sweden traders. IC Markets also provides cTrader, a platform known for its advanced charting and fast execution, ideal for algorithmic traders. XM Group lacks cTrader but offers its own WebTrader and mobile apps. For Sweden traders who value customization and speed, IC Markets has the edge. XM Group's platforms are more beginner-friendly and include integrated educational tools, which can be beneficial for new traders in Sweden.

IC Markets is renowned for its ultra-fast execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data centers. XM Group offers good execution with an average speed of 100ms, but occasional slippage may occur during volatile markets. For Sweden traders who trade news events or use scalping strategies, IC Markets' execution quality is superior. XM Group's execution is reliable for standard trading but not as competitive for high-frequency trading.

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). XM Group is regulated by CySEC, the Financial Services Commission (FSC) in Belize, and the Australian Securities and Investments Commission (ASIC). Neither broker is directly supervised by the local financial regulator in Sweden. However, both comply with European MiFID II standards through their CySEC entities, which provides a layer of protection for Sweden traders. Sweden traders should be aware that client funds are held in segregated accounts, and both brokers offer negative balance protection.

Sweden traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and XM Group. IC Markets processes deposits instantly via e-wallets and USDT, while bank transfers may take 1-3 business days. Withdrawals are free at IC Markets, with same-day processing for e-wallets. XM Group also offers instant deposits via Skrill and Neteller, and withdrawals are processed within 24 hours. Both brokers charge no deposit fees and support USD accounts, which is convenient for Sweden traders. USDT deposits are particularly useful for crypto-friendly traders in Sweden, offering fast and low-cost transfers.

Sweden Muslim traders can access Islamic (swap-free) accounts at both IC Markets and XM Group. IC Markets offers Islamic accounts on request for all account types, with no swap fees on overnight positions. XM Group provides Islamic accounts automatically for clients from Muslim-majority countries, including Sweden, and also waives swap fees. Both brokers ensure that these accounts comply with Sharia law by not charging or paying interest. This makes both brokers suitable for Sweden's Muslim traders who require swap-free trading.

IC Markets offers 24/7 customer support via live chat, email, and phone, with a focus on technical trading issues. XM Group also provides 24/5 multilingual support, including Swedish language assistance. XM Group's support is more accessible for beginners, with faster response times for account-related queries. For Sweden traders, XM Group's Swedish-speaking support may be an advantage, while IC Markets' round-the-clock service is better for active traders.