Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 07/2012 |  | Alexander Møller | DF | |||
| 07/2012 | | Mark Tubæk | MF | |||
| 05/2012 |  | Ingimar Hlynsson | MF |  | FH Hafnarfjörður | FH |
| 03/2012 | | Pétur Markan | FW |  | Víkingur Reykjavík | Víkingur |
| 02/2012 | | Dennis Nielsen | DF |  | Varde IF | Varde IF |
| 01/2012 | | Gunnlaugur Jónasson | DF |  | Höfrungur | Höfrungur |
| 01/2012 | | Haraldur Hróðmarsson | MF |  | Hamar | Hamar |
| 01/2012 | | Haukur Ólafsson | MF |  | ÍR Reykjavík | ÍR |
| 01/2012 |  | Daniel Osafo-Badu | MF |  | ÍF Magni | ÍF Magni |
| 01/2012 | | Helgi Pálsson | MF | |||
| 01/2012 | | Guðmundur Steinþórsson | FW |  | Ýmir | Ýmir |
| 01/2012 | | Jörundur Sveinsson | MA |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 10/2012 | | Ingimar Hlynsson | MF | | FH Hafnarfjörður | FH |
| 08/2012 | | Guðmundur Steinþórsson | FW |  | HK Kópavogur | HK |
| 07/2012 | | Haraldur Hróðmarsson | MF |  | Þróttur Reykjavík | Þróttur |
| 01/2012 | | Tomi Ameobi | FW |  | UMF Grindavík | Grindavík |
| 01/2012 | | Guðjón Þórðarson | MA | | UMF Grindavík | Grindavík |