EasyMarkets vs IC Markets: Which Broker Wins for Mongolia Traders in 2026?

Costs matter deeply to Mongolia traders, especially when converting MNT to USD. IC Markets offers a Raw Spread account with spreads from 0.0 pips and a $7 round-turn commission per lot, resulting in total costs around $7 per standard lot on major pairs. EasyMarkets uses fixed spreads averaging 1.0 pips on EUR/USD with zero commission, costing about $10 per lot. While the difference seems small, active Mongolia traders executing 20 lots monthly save $60 with IC Markets. Additionally, EasyMarkets’ fixed spreads protect against volatility but lock in higher base costs. For scalpers and high-volume traders in Mongolia, IC Markets is clearly cheaper. Beginners trading small volumes may prefer EasyMarkets’ predictable costs.

Platform choice is key for Mongolia traders, many of whom use mobile devices. IC Markets supports MetaTrader 4, MetaTrader 5, and cTrader—all highly customizable and feature-rich for technical analysis. cTrader’s depth of market is particularly useful for price action traders. EasyMarkets offers its proprietary web platform and mobile app, which are simpler but lack advanced charting tools like multiple timeframes or custom indicators. It also provides TradingView integration. For Mongolia traders who want to automate strategies with Expert Advisors, IC Markets is the better pick. EasyMarkets’ platform is beginner-friendly and includes a ‘deal cancellation’ feature, but power users will find IC Markets’ ecosystem far more capable.

Execution quality directly impacts profitability for Mongolia traders. IC Markets uses Equinix NY4 and LD5 data centers, offering ultra-low latency execution with no requotes on its Raw Spread accounts. Average execution speed is under 40ms. EasyMarkets uses virtual pricing (dealing desk) for its fixed spread accounts, which can cause occasional requotes during high volatility—a disadvantage for scalpers. IC Markets’ true ECN/STP model ensures market pricing and instant execution. For Mongolia traders using USDT deposits to trade fast moving pairs like gold, IC Markets’ superior execution reduces slippage.

Regulation is a top concern for Mongolia traders, given the FRC (Financial Regulatory Commission of Mongolia) oversees local financial services but does not directly regulate international forex brokers. EasyMarkets is regulated by CySEC (Cyprus), ASIC (Australia), and the FSA (Seychelles)—offering client fund segregation and negative balance protection under CySEC. IC Markets is regulated by ASIC, CySEC, and the FSA, with additional licensing in Seychelles. For Mongolia clients, both brokers operate under international licenses, not the FRC. However, ASIC and CySEC regulations provide strong protections. IC Markets’ ASIC license requires strict audit and capital adequacy, which adds confidence for Mongolia traders depositing significant funds via USDT or bank transfer.

Depositing and withdrawing as a Mongolia trader involves navigating MNT conversion and local payment networks. EasyMarkets supports bank transfers (SWIFT in USD), credit/debit cards, and USDT via crypto wallets, but does not directly accept QPay (a Mongolian mobile payment app). To use QPay, traders must transfer MNT from their bank account to a USD bank account, then wire to EasyMarkets—a two-step process. IC Markets also accepts bank transfers and USDT directly, and its crypto deposit process is faster. For withdrawals, both brokers process requests within 1-3 business days. IC Markets charges no withdrawal fees for international wire transfers except intermediary bank charges, while EasyMarkets may charge $25 per wire. Mongolia traders should factor these costs when choosing.

Mongolia has a Muslim minority population, and both brokers accommodate Islamic (swap-free) accounts. EasyMarkets offers swap-free accounts upon request for all account types, with no hidden fees or time limits. IC Markets provides Islamic accounts under a ‘Sharia-compliant’ option for Standard and Raw Spread accounts, but may impose a maximum holding period to avoid abuse (e.g., 30 days). Traders in Mongolia seeking long-term halal trading should verify IC Markets’ policy. EasyMarkets’ unlimited swap-free period is more flexible. Both require no additional deposit for Islamic accounts, but verification of Muslim status may be needed. For Mongolia’s Islamic traders, both are viable, but EasyMarkets offers simpler terms.

Customer support is crucial for Mongolia traders, especially when dealing with time zone differences (UTC+8). EasyMarkets offers 24/5 live chat and email support in English, with a local phone number for global clients. IC Markets also provides 24/7 live chat (limited on weekends) and multi-language support including Russian, which is familiar to many Mongolia traders. Response times are under 2 minutes for both. For urgent issues like frozen withdrawals or platform errors, IC Markets’ quicker email resolution (average 4 hours) edges ahead. EasyMarkets’ chatbot can be less helpful for complex queries. Overall, both are reliable, but IC Markets’ Russian-language support is a plus for Mongolia.