IC Markets vs Exness: Which Broker is Better for Cyprus Traders in 2026?
Which broker is better for Cyprus traders in 2026? Expert analysis across 12 categories.
For Cyprus traders in 2026, choosing between IC Markets and Exness is a critical decision that impacts trading costs, execution, and convenience. Both brokers boast a 4.8/5 rating, but they cater to different needs. IC Markets is renowned for its ultra-low spreads, starting from 0.0 pips on the Raw Spread account, making it ideal for scalpers and high-frequency traders. Exness, on the other hand, offers flexible leverage up to 1:2000 and instant withdrawals, appealing to traders who value liquidity and fast access to funds. Cyprus traders benefit from local payment methods like Bank Transfer, Skrill, Neteller, and USDT, as well as regulation by the local financial regulator (CySEC for Exness). Whether you prefer MT4, MT5, or cTrader, both platforms are fully supported. This comparison dives into spreads, platforms, regulation, and deposit options tailored to Cypriot residents, helping you decide which broker aligns with your trading style and local requirements.
| Instrument | IC Markets | Exness | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Exness |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Exness |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Exness |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Exness |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | Exness |
| Inactivity fee | ✓ | ✓ | Tie |
For Cyprus traders, trading costs are a key factor, especially with frequent trading. IC Markets offers the Raw Spread account with spreads from 0.0 pips and a $3.50 commission per lot round turn, ideal for low-cost scalping. Exness provides the Zero account with spreads from 0.1 pips and a $3.50 commission per lot, while standard accounts have spreads around 0.3 pips with no commission. On a $10,000 monthly volume, IC Markets saves Cyprus traders about $5-10 in spread costs compared to Exness. However, Exness’s higher leverage can reduce margin requirements, balancing costs for larger positions. For high-volume traders in Cyprus, IC Markets is more cost-effective, while Exness suits those who prefer lower upfront costs.
| Account Type | IC Markets | Exness |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $200 | $10 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | IC Markets | Exness |
|---|---|---|
| Cyprus (offshore) | Up to 1:500 | Up to 1:2000 |
| Forex major pairs | 1:500 | 1:2000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | IC Markets | Exness | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | Exness |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | IC Markets | Exness |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both IC Markets and Exness offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, which are popular among Cyprus traders for their advanced charting and automated trading. IC Markets also provides a proprietary web trader platform, while Exness offers a mobile app with built-in analysis tools. For Cyprus traders who rely on Expert Advisors (EAs), IC Markets is slightly better due to its lower latency and dedicated VPS options. Exness’s platforms are equally robust, but IC Markets edges out with faster execution and more customization, especially for scalpers using cTrader.
| Factor | IC Markets | Exness | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Exness |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is known for its low-latency execution, with an average execution speed of 40ms, making it ideal for scalpers and EA traders in Cyprus. Exness offers execution speeds around 100ms, which is still fast but slightly slower. Both brokers use No Dealing Desk (NDD) execution, but IC Markets’ servers are located in the NY4 data center, providing faster access for Cyprus traders due to lower ping. For high-frequency trading, IC Markets is the better choice, while Exness’s execution is sufficient for most retail traders.
| Safety Factor | IC Markets | Exness |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Reg number | #335692 | #730729 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Regulation is crucial for Cyprus traders, and Exness stands out as it is regulated by the Cyprus Securities and Exchange Commission (CySEC), providing direct local oversight and access to the Investor Compensation Fund (ICF) for up to €20,000. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority (FSA) of Seychelles, which is not a local regulator. While both are reputable, Exness’s CySEC regulation offers Cyprus traders stronger legal protection and familiarity with local financial laws. IC Markets’ ASIC regulation is also robust but lacks the direct local support that CySEC provides, making Exness a safer choice for risk-averse Cypriot traders.
| Payment Method | IC Markets | Exness |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 24/7 automated; 98% instant to 24hrs; mobile money often instant; bank transfer 1-3 days |
| Min withdrawal | $50 | $50 |
Cyprus traders have multiple deposit and withdrawal options at both brokers, including Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes deposits via Skrill and Neteller instantly, with bank transfers taking 1-2 business days and USDT deposits within minutes. Withdrawals at IC Markets are processed within 1-2 business days for most methods, with no fees. Exness offers instant withdrawals for Skrill, Neteller, and USDT, while bank transfers take 1-3 days. Exness is known for its fast withdrawal processing, often within minutes for e-wallets, which is a major advantage for Cyprus traders who need quick access to funds. Both brokers accept USD accounts, and there are no deposit fees, making it easy for Cypriot traders to fund their accounts.
| Islamic Account Feature | IC Markets | Exness |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
For Muslim traders in Cyprus, both IC Markets and Exness offer Islamic (swap-free) accounts that comply with Sharia law by eliminating overnight interest charges. IC Markets provides Islamic accounts on request, with no swap fees on positions held overnight, but requires a declaration of faith. Exness offers swap-free accounts for all clients in Cyprus, including Muslims, with no additional conditions. Exness’s Islamic account is more straightforward, as it is automatically available for eligible clients, while IC Markets requires manual activation. Both brokers support the same trading instruments on Islamic accounts, ensuring Cyprus Muslim traders can trade forex, indices, and commodities without religious conflict.
| Support Feature | IC Markets | Exness | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✓ | Exness |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 customer support via live chat, email, and phone, with dedicated support for Cyprus traders in English and Greek. Exness provides 24/7 support in multiple languages, including Greek, with live chat, email, and phone options. Both brokers have responsive teams, but Exness’s support is slightly faster, with average response times under 30 seconds. For Cyprus traders, Exness’s local phone support and Greek language availability give it a slight edge, especially for complex queries related to local payments or regulation.
| Mobile Feature | IC Markets | Exness | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | IC Markets |
| Google Play rating | 4.3★ | 4.2★ | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | IC Markets | Exness | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | IC Markets |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
| Beginner resources | Excellent | Basic | IC Markets |
Choose IC Markets if you...
- Are a scalper or high-frequency trader needing ultra-low spreads starting from 0.0 pips.
- Prefer cTrader for advanced charting and automated trading with low latency.
- Trade high volumes and want to minimize spread costs with a commission-based model.
- Need fast execution below 50ms for EA strategies.
Choose Exness if you...
- Want flexible leverage up to 1:2000 to maximize small capital.
- Prefer instant withdrawals via Skrill, Neteller, or USDT for quick fund access.
- Value CySEC regulation for local oversight and compensation protection.
- Trade with Islamic account without manual activation requirements.
For Cyprus traders in 2026, both IC Markets and Exness are excellent choices, but the best fit depends on your trading style. IC Markets wins on cost and execution, with spreads from 0.0 pips and 40ms execution, ideal for scalpers and EA users. Exness excels in flexibility, offering leverage up to 1:2000, instant withdrawals via Bank Transfer, Skrill, Neteller, and USDT, and CySEC regulation for local peace of mind. If you prioritize low spreads and fast execution, choose IC Markets. If you need flexible leverage, fast withdrawals, and local regulation, Exness is better. Both brokers support USD accounts and local payments, ensuring Cypriot traders have a seamless trading experience. Use this comparison to align your choice with your trading goals and local requirements.