Which broker is better for China traders in 2026? Expert analysis across 12 categories.
For China traders seeking offshore forex exposure, choosing between Global Prime and IC Markets is a critical decision. Both brokers are well-regarded among Chinese expats and international traders, but they cater to slightly different needs. IC Markets, with a strong 4.8/5 rating, is a top-tier ECN broker known for ultra-tight spreads and deep liquidity, making it ideal for high-frequency and algorithmic traders. Global Prime, scoring 3.6/5, offers a more boutique experience with personalized support and a focus on transparency. Both accept USDT deposits and international bank transfers, which are key for Chinese traders navigating capital controls. While neither is regulated by the CSRC, they hold licenses from ASIC and FSCA, providing a layer of security. This comparison will help you decide which broker aligns with your trading goals, whether you prioritize low costs, platform variety, or customer service.
| Instrument | Global Prime | IC Markets | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | IC Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | IC Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | IC Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | IC Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $200 | Global Prime |
For China traders, trading costs are a major factor, especially when trading USD/CNH or other pairs impacted by volume. IC Markets offers raw spreads from 0.0 pips on its Raw Spread account with a $3.5 commission per lot (round turn). Global Prime’s standard account has spreads from 0.1 pips with no commission, but its raw account charges $7 per lot. On a typical 10-lot day, IC Markets saves about $35 in commission costs. Both brokers have no hidden fees, but IC Markets' lower spreads and commissions give it an edge for active traders. Swap rates are competitive for both, but check their overnight policies for CNY-denominated pairs.
| Account Type | Global Prime | IC Markets |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✗ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $200 |
| Entity / Asset | Global Prime | IC Markets |
|---|---|---|
| China (offshore) | Up to 1:500 | Up to 1:5000 |
| Forex major pairs | 1:500 | 1:5000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Asset Class | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | Global Prime |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | ✗ | 20+ indices | Global Prime |
| Crypto CFDs | ✗ | 20+ | Global Prime |
| Stocks / Share CFDs | ✗ | ✗ | IC Markets |
| ETFs | ✗ | ✗ | Tie |
| Platform | Global Prime | IC Markets |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✗ | ✓ |
| cTrader | ✗ | ✓ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
Both brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely used by China traders for their advanced charting and automated trading capabilities. IC Markets also offers cTrader, a popular platform for ECN trading with better order execution visibility. Global Prime provides TradingView integration, which is favored by technical analysts. For Chinese traders, both brokers ensure stable connectivity to their servers via VPS options, crucial for low-latency trading. Mobile apps are available for iOS and Android, with Chinese language support in both cases.
| Factor | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | IC Markets |
| Avg execution speed | ~30ms | ~40ms | Global Prime |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is renowned for its fast execution speeds, with average latency under 40ms and no requotes on its ECN infrastructure. This is critical for China traders using scalping or EA strategies. Global Prime also offers low latency, but its execution is slightly slower due to its smaller liquidity pool. Both brokers use No Dealing Desk (NDD) execution, ensuring transparency. For high-frequency traders, IC Markets’ edge in execution quality is a key differentiator.
| Safety Factor | Global Prime | IC Markets |
|---|---|---|
| Primary regulator | ASIC | ASIC |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✗ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Global Prime is regulated by the Australian Securities and Investments Commission (ASIC), while IC Markets is regulated by ASIC and the Financial Sector Conduct Authority (FSCA) in South Africa. Neither is regulated by the China Securities Regulatory Commission (CSRC), meaning Chinese traders must accept that they are using offshore brokers. This offers flexibility in leverage (up to 1:500) but requires due diligence. IC Markets' dual regulation provides an extra layer of oversight, while Global Prime's ASIC license ensures strict client fund segregation. Both brokers are well-established and have clean regulatory records.
| Payment Method | Global Prime | IC Markets |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✗ | ✓ |
| Neteller | ✗ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | Global Prime processes withdrawals instantly on their end, but the time to receive your funds depends on your payment method: bank wire transfers take 1 to 5 business days, credit or debit cards take 1 to 10 days, and e-wallets are instant once completed. | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days |
Depositing and withdrawing funds is straightforward for China traders with both brokers. USDT deposits are supported via TRC20 (low fees) and ERC20 networks, making it easy to transfer from Chinese exchanges like Binance or OKX. International bank transfers in USD are also accepted, though they may take 1-3 business days and incur intermediary fees. IC Markets additionally supports credit/debit cards, PayPal, and Skrill, while Global Prime focuses on bank transfers and USDT. Withdrawals are processed within 24 hours for both, with USDT withdrawals being the fastest. Minimum deposits are $200 for Global Prime and $200 for IC Markets, though IC Markets offers a $50 minimum for its standard account. Always verify withdrawal methods with your account manager to avoid delays.
| Islamic Account Feature | Global Prime | IC Markets |
|---|---|---|
| Swap-free available | ✗ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both Global Prime and IC Markets offer Islamic (swap-free) accounts for Muslim traders in China. These accounts comply with Sharia law by eliminating overnight interest charges on positions held beyond the daily rollover. IC Markets provides swap-free accounts on all account types, while Global Prime offers them on request. Note that some instruments, like cryptocurrencies or certain indices, may still incur swap fees. Traders should confirm eligibility during account opening, as Islamic accounts are typically available to residents of Muslim-majority regions, including China.
| Support Feature | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | Global Prime |
Global Prime offers 24/5 customer support via live chat and email, with a focus on personalized service. IC Markets provides 24/7 support through live chat, phone, and email, which is more convenient for China traders in different time zones. Both offer Chinese language support, but IC Markets’ larger team often results in faster response times. Global Prime’s smaller team can provide more detailed assistance for complex queries.
| Mobile Feature | Global Prime | IC Markets | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | Global Prime |
| Google Play rating | 4.3 stars | 4.2 stars | Global Prime |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Resource | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Video tutorials | ✗ | 50+ videos | IC Markets |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✗ | ✓ | Tie |
| Market analysis | Daily | Basic | Global Prime |
Choose Global Prime if you...
Choose IC Markets if you...
For China traders, IC Markets emerges as the stronger choice overall, thanks to its higher score, tighter spreads, and superior execution. It is particularly suited for active traders and those using EAs. Global Prime remains a viable option for traders who value personalized service and TradingView integration. Both brokers support USDT deposits and international bank transfers, which are essential for China traders. However, remember that neither is CSRC-regulated, so you must manage your own compliance with Chinese capital controls. For most offshore traders in China, IC Markets offers the best balance of cost, reliability, and features.