Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 10/2012 |  | Guðmundur Bergsteinsson | MF |  | UMF Njarðvík | UMF Njarðvík |
| 10/2012 | | Páll Guðmundsson | MF |  | Reynir Sandgerði | Reynir Sandgerði |
| 10/2012 | | Jóhann Helgason | MF |  | KA Akureyri | KA |
| 07/2012 |  | Iain Williamson | FW | |||
| 07/2012 | | Ægir Þorsteinsson | GK | |||
| 05/2012 |  | Mikael Eklund | DF |  | IK Brage | IK Brage |
| 05/2012 |  | Jordan Edridge | MF | |||
| 05/2012 | | Gavin Morrison | MF |  | Inverness CT | Inverness |
| 01/2012 | | Benóný Þórhallsson | GK | |||
| 01/2012 | | Björn Bryde | DF |  | FH Hafnarfjörður | FH |
| 01/2012 | | Alex Freyr Hilmarsson | MF |  | Sindri Höfn | Sindri Höfn |
| 01/2012 | | Marko Stefánsson | MF |  | Oskarshamns AIK | Oskarshamns AIK |
| 01/2012 | | Tomi Ameobi | FW |  | BÍ/Bolungarvík | BÍ/Bolungarvík |
| 01/2012 | | Pape Faye | FW |  | Leiknir Reykjavík | Leiknir |
| 01/2012 | | Guðjón Þórðarson | MA | | BÍ/Bolungarvík | BÍ/Bolungarvík |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 09/2012 | | Mikael Eklund | DF | | IK Brage | IK Brage |
| 07/2012 | | Ian Paul McShane | MF |  | UMF Afturelding | UMF Afturelding |
| 07/2012 | | Páll Guðmundsson | MF | | Reynir Sandgerði | Reynir Sandgerði |
| 06/2012 | | Gavin Morrison | MF | | Inverness CT | Inverness |
| 05/2012 | | Guðmundur Bergsteinsson | MF | | UMF Njarðvík | UMF Njarðvík |
| 04/2012 | | Elías Stefnisson | GK |  | KFS Vestmannaeyjar | KFS |
| 02/2012 |  | Michal Pospíšil | FW |  | 1. SK Prostějov | 1. SK Prostějov |
| 01/2012 | | Jamie McCunnie | DF |  | ÍR Reykjavík | ÍR |
| 01/2012 | | Jóhann Helgason | MF | | KA Akureyri | KA |
| 01/2012 | | Haukur Guðnason | FW |  | Fylkir Reykjavík | Fylkir |
| 01/2012 | | Orri Freyr Hjaltalín | FW |  | Þór Akureyri | Þór |