IC Markets vs Exness: Which Broker is Best for Mongolia Traders in 2026?
Which broker is better for Mongolia traders in 2026? Expert analysis across 12 categories.
For Mongolia traders in 2026, choosing between IC Markets and Exness can be a challenge, as both brokers score an impressive 4.8/5 and are trusted globally. IC Markets is renowned for its ultra-low spreads and fast execution, making it a top choice for scalpers and algorithmic traders who rely on MT4, MT5, and cTrader. Exness, on the other hand, excels with flexible leverage up to 1:2000, instant withdrawals, and a user-friendly interface that suits both beginners and experienced traders. In Mongolia, where forex trading is growing rapidly, local payment methods like Bank Transfer, Skrill, Neteller, and USDT are widely supported by both brokers, ensuring seamless deposits and withdrawals. While the local financial regulator does not directly oversee these international brokers, both operate under reputable licenses from FCA, CySEC, and FSA, providing a secure trading environment. This comparison will help you decide which broker aligns better with your trading style, cost preferences, and local payment needs in Mongolia.
| 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 Mongolia traders, IC Markets has a slight edge with spreads starting from 0.0 pips on its Raw Spread account, plus a $7 round-turn commission per lot. Exness offers spreads from 0.1 pips on its Zero account with a similar commission structure. For high-volume traders in Mongolia, IC Markets can be more cost-effective, especially on major pairs like EUR/USD and USD/JPY. However, Exness provides lower costs on smaller lot sizes and offers tight spreads on its Standard account without commission. Both brokers have no hidden fees, and the impact of spread costs becomes significant for scalpers trading multiple lots daily. Mongolia traders should consider their average trade size and frequency when choosing between the two.
| 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 |
|---|---|---|
| Mongolia (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 popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used by Mongolia traders for their advanced charting tools and automated trading capabilities. IC Markets additionally provides cTrader, a platform favored for its intuitive interface and depth of market data, ideal for scalpers. Exness focuses on MT4/MT5 with seamless integration for mobile and web trading, ensuring fast execution on slower internet connections common in some parts of Mongolia. Both brokers offer demo accounts, so Mongolia traders can test platforms before committing. For those who prefer social trading, both support copy trading features, though IC Markets has a larger third-party signal provider network.
| 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 renowned for its ultra-fast execution, with average speeds under 40 milliseconds, making it ideal for scalpers and high-frequency traders in Mongolia. Exness also offers fast execution, typically under 100 milliseconds, but its focus on high leverage may lead to slight slippage during volatile markets. Both brokers use No Dealing Desk (NDD) execution, ensuring no re-quotes. For Mongolia traders who prioritize speed, IC Markets is the better choice, while Exness balances speed with flexibility for larger positions.
| 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 | ✓ | ✓ |
IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), while Exness is regulated by the Financial Conduct Authority (FCA) in the UK and the Financial Services Authority (FSA) in Seychelles. For Mongolia traders, this means both brokers adhere to strict financial standards, including client fund segregation and negative balance protection. Although the local financial regulator in Mongolia does not directly oversee these brokers, the international licenses provide a high level of security. Exness also offers an Investor Compensation Fund for eligible clients under CySEC, adding extra peace of mind. Mongolia traders should verify the specific entity they register with, as terms may vary by jurisdiction.
| 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 |
Mongolia traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and Exness. IC Markets has a minimum deposit of $200 and processes withdrawals within 1-2 business days for e-wallets and USDT, while bank transfers may take 3-5 days. Exness stands out with instant withdrawals for e-wallets and USDT, often processed within seconds, and a lower minimum deposit of just $10. Both brokers charge no deposit fees, but Exness has no withdrawal fees either, while IC Markets may charge a small fee for bank transfers. For Mongolia traders who value speed, Exness is the clear winner, while IC Markets is better for those who can wait a bit longer for lower spreads. USDT deposits are particularly popular in Mongolia due to their speed and low cost.
| 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 |
Both IC Markets and Exness offer Islamic (swap-free) accounts for Mongolia traders who follow Sharia law. IC Markets provides Islamic accounts on request for all account types, waiving overnight interest on positions held beyond one day. Exness automatically applies swap-free conditions on its Standard and Cent accounts, but not on Raw Spread or Zero accounts. Mongolia traders need to ensure they select the correct account type to avoid swap charges. Both brokers require a declaration of faith for Islamic accounts, and the accounts are available indefinitely. This makes both brokers suitable for Muslim traders in Mongolia, though Exness offers a more straightforward process for beginners.
| 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 English as the primary language. Exness provides 24/7 support in multiple languages, including English and simplified Chinese, which can be helpful for Mongolia traders who prefer non-English support. Both brokers have comprehensive FAQ sections and educational resources. IC Markets is known for faster response times during active trading hours, while Exness excels in handling account-related queries quickly. For Mongolia traders, Exness may have a slight edge due to its multilingual support.
| 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-tight spreads from 0.0 pips.
- Prefer cTrader platform for advanced charting and depth of market.
- Trade large volumes and want minimal cost per lot.
- Don't mind a higher minimum deposit ($200) for lower spreads.
Choose Exness if you...
- Want instant withdrawals via Skrill, Neteller, or USDT in Mongolia.
- Need flexible leverage up to 1:2000 for bigger position sizes.
- Are a beginner with a small account (minimum deposit $10).
- Prefer multilingual customer support and swap-free accounts automatically.
Both IC Markets and Exness are top-tier brokers for Mongolia traders in 2026, each excelling in different areas. IC Markets is the best choice for cost-conscious scalpers and algorithmic traders who prioritize low spreads and fast execution. Exness, with its instant withdrawals, high leverage, and low minimum deposit, is ideal for beginners and traders who value flexibility and quick access to funds via local payment methods like Bank Transfer, Skrill, Neteller, and USDT. Since the local financial regulator does not directly supervise these brokers, Mongolia traders should rely on their strong international licenses. Ultimately, if you trade frequently and focus on costs, choose IC Markets. If you want convenience and speed in deposits/withdrawals, Exness is your broker. Both are safe and reputable, so your decision should align with your trading style and local payment preferences.