IC Markets vs Exness: Which Broker is Best for Malaysia Traders in 2026?
Which broker is better for Malaysia traders in 2026? Expert analysis across 12 categories.
For Malaysia traders looking to enter the forex market in 2026, choosing between IC Markets and Exness is a common dilemma. Both brokers are highly rated (4.8/5) and offer robust services tailored to retail traders in Malaysia. IC Markets is known for its ultra-low spreads and advanced trading platforms like MetaTrader 4, 5, and cTrader, making it a favorite among scalpers and algorithmic traders. Exness, on the other hand, stands out with its flexible leverage options, instant withdrawals, and user-friendly interface, appealing to both beginners and experienced traders. Both brokers accept local payment methods such as Bank Transfer, Skrill, Neteller, and USDT, and are regulated by the local financial regulator, ensuring a secure trading environment. This comparison will help you decide which broker aligns better with your trading style and local needs.
| 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 |
When comparing trading costs for Malaysia traders, IC Markets generally offers tighter spreads, especially on its Raw Spread account, where EUR/USD spreads start from 0.0 pips with a commission of $3.50 per lot per side. Exness spreads start from 0.1 pips on its Zero account with a commission of $3.50 per lot per side, while its Standard account has spreads from 0.3 pips with no commission. For high-volume traders in Malaysia, IC Markets can be more cost-effective due to lower overall costs. However, Exness offers a no-commission option that may suit smaller traders. Both brokers charge in USD, so Malaysia traders should consider currency conversion fees when depositing via local methods.
| 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 |
|---|---|---|
| Malaysia (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 | ✓ | ✓ |
IC Markets and Exness both offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Malaysia traders for their advanced charting tools and automated trading capabilities. IC Markets also provides cTrader, a platform preferred for its intuitive interface and advanced order management, ideal for scalpers. Exness offers its proprietary WebTerminal and mobile apps, which are user-friendly and optimized for fast execution. For Malaysia traders who value platform variety, IC Markets has an edge, while Exness focuses on simplicity and speed.
| 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 |
Execution quality is critical for Malaysia traders, especially scalpers and day traders. IC Markets uses Equinix NY4 data centers for ultra-low latency execution, with average execution speeds under 40 milliseconds. Exness also offers fast execution with servers in London and New York, but its speeds are slightly slower at around 50-60 milliseconds. Both brokers offer no dealing desk (NDD) execution, ensuring no requotes. For high-frequency traders, IC Markets has a slight edge due to its superior infrastructure.
| 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 | ✓ | ✓ |
Both IC Markets and Exness are regulated by the local financial regulator, providing Malaysia traders with a layer of security and compliance. IC Markets is also regulated by top-tier authorities like the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). Exness holds licenses from the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). Local regulation ensures that both brokers adhere to Malaysian financial laws, including leverage limits and client fund segregation, which is crucial for retail traders in Malaysia.
| 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 |
Depositing and withdrawing funds is straightforward for Malaysia traders at both IC Markets and Exness. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT, which are popular among local traders. Deposits via e-wallets and USDT are usually instant, while bank transfers may take 1-3 business days. Exness is known for its instant withdrawal processing, often completed within minutes, while IC Markets processes withdrawals within 24 hours. Minimum deposits are low—IC Markets requires $200 for most accounts, while Exness requires $10 for Standard accounts. Both brokers charge no deposit fees, but Malaysia traders should check for any intermediary bank charges when using Bank Transfer.
| 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 Malaysia Muslim traders, both IC Markets and Exness offer Islamic (swap-free) accounts that comply with Sharia law. IC Markets provides Islamic accounts on request for all account types, with no overnight interest charges on positions. Exness automatically offers swap-free accounts for clients in Muslim-majority countries like Malaysia, making it easy to open without additional paperwork. However, both brokers may charge a small administration fee on Islamic accounts for certain instruments held for extended periods. Malaysia traders should confirm the terms with customer support before opening an Islamic account.
| 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 |
Both IC Markets and Exness offer 24/7 customer support in English, which is sufficient for most Malaysia traders. IC Markets provides live chat, email, and phone support, with response times typically under 5 minutes. Exness offers similar channels but also has a dedicated Malaysian support team and a local phone number, making it slightly more accessible for Malaysia traders. Exness also provides educational resources in Malay, which can be helpful for local traders.
| 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-volume trader seeking the tightest spreads and lowest trading costs.
- Prefer advanced platforms like cTrader alongside MT4 and MT5 for algorithmic trading.
- Value top-tier regulation from ASIC and CySEC for added security.
- Don't mind a slightly higher minimum deposit ($200) for better trading conditions.
Choose Exness if you...
- Are a beginner or small trader looking for a low minimum deposit ($10) and flexible leverage.
- Need instant withdrawals and faster access to your funds.
- Prefer a local Malaysian support team and educational resources in Malay.
- Want an automatic Islamic account without additional paperwork.
Both IC Markets and Exness are top-tier brokers for Malaysia traders in 2026, each excelling in different areas. IC Markets is the best choice for active traders who prioritize low spreads, advanced platforms, and robust regulation. Exness is ideal for beginners and those who value fast withdrawals, flexible leverage, and local support. Both brokers support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, and are regulated by the local financial regulator, ensuring a safe trading environment. Ultimately, your choice should align with your trading style and priorities. If you trade frequently with high volume, go with IC Markets. If you prefer simplicity and instant access to funds, Exness is the better option.