IC Markets vs Exness for Singapore Traders (2026): In-Depth Comparison
Which broker is better for Singapore traders in 2026? Expert analysis across 12 categories.
Singapore traders are spoilt for choice when comparing IC Markets vs Exness, two of the top-rated forex brokers globally, each scoring 4.8/5. Both brokers cater to retail traders in Singapore with competitive trading conditions, but they differ in key areas like spreads, leverage, and payment options. IC Markets is renowned for its ultra-low spreads and ECN execution, making it a favorite among scalpers and algorithmic traders. Exness, on the other hand, stands out with its flexible leverage up to unlimited and instant withdrawal processing. For Singapore traders, both brokers accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT, ensuring seamless deposits and withdrawals. While neither is regulated by the Monetary Authority of Singapore (MAS), they operate under robust international licenses, providing a secure trading environment. This comparison will help you decide which broker aligns with your trading goals in the Singapore market.
| 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 Singapore traders, trading costs are crucial, especially when dealing with high volumes. IC Markets offers a Raw Spread account with spreads from 0.0 pips on EUR/USD, plus a $7 commission per lot round turn. This model is ideal for scalpers who trade frequently, as the low spreads reduce overall costs. Exness provides a Standard account with spreads from 0.3 pips and no commission, and a Zero account with spreads from 0.0 pips and a $3.5 commission per lot. For a Singapore trader executing 10 lots per month, IC Markets could save around $35 in total costs compared to Exness's Standard account. However, Exness's lower minimum deposit ($10 vs $200) makes it more accessible for beginners.
| 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 |
|---|---|---|
| Singapore (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 brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely used by Singapore traders for their advanced charting and automated trading capabilities. IC Markets also offers cTrader, a platform favored for its intuitive interface and depth of market. Exness provides its proprietary WebTerminal and mobile apps, but MT4/MT5 remain the primary choices. For Singapore traders who rely on Expert Advisors (EAs), both brokers offer excellent compatibility, though IC Markets is often preferred for its raw spreads and low latency on VPS servers.
| 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 ECN execution, with average execution speeds of under 40ms. Exness also offers fast execution, but its market maker model can sometimes lead to requotes during high volatility. For Singapore traders who use scalping or algorithmic strategies, IC Markets' execution quality is superior. Exness, however, provides instant execution on its Standard accounts, which can be beneficial for traders who prefer guaranteed fills.
| 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 Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). Exness is regulated by the FCA, CySEC, and the Financial Services Authority (FSA) in Seychelles. For Singapore traders, this means both brokers offer client fund segregation and negative balance protection. However, neither is regulated by the Monetary Authority of Singapore (MAS), so traders should be aware that they are not covered by the Singapore Deposit Insurance Scheme. Still, the strong international oversight provides a reasonable level of security.
| 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 |
Singapore traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and Exness. IC Markets requires a minimum deposit of $200, while Exness requires only $10, making Exness more accessible for beginners. Deposits via Skrill and Neteller are instant at both brokers, while Bank Transfer takes 1-3 business days. USDT deposits are processed within minutes. Withdrawals are generally fast: Exness offers instant withdrawals for e-wallets and USDT, while IC Markets processes withdrawals within 24 hours for e-wallets. Bank withdrawals may take 2-5 business days. Both brokers do not charge deposit fees, but Singapore traders should check with their bank for any incoming wire fees.
| 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 Singapore Muslim traders. IC Markets provides swap-free accounts upon request, with no swaps charged on overnight positions. Exness also offers Islamic accounts, but may apply a small administration fee after holding a position for more than a few days. For Singapore traders who trade frequently or hold positions long-term, IC Markets' Islamic account may be more cost-effective. Both brokers ensure compliance with Sharia law by not charging or paying interest on overnight positions.
| 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 a dedicated team available in English. Exness also provides 24/7 support in multiple languages, including English, Chinese, and Malay. For Singapore traders, Exness's multilingual support may be more convenient, especially for those who prefer Mandarin or Malay assistance. Both brokers have comprehensive FAQ sections and educational resources on their websites.
| 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 day trader needing ultra-low spreads from 0.0 pips.
- Use Expert Advisors (EAs) and require low-latency VPS execution.
- Prefer the cTrader platform for its advanced order types and depth of market.
- Trade high volumes (over 10 lots per month) to benefit from the Raw Spread account's cost efficiency.
Choose Exness if you...
- Are a beginner or small trader with a low starting capital ($10 minimum deposit).
- Want flexible leverage up to unlimited for larger position sizing.
- Prefer instant withdrawals and faster fund access via e-wallets or USDT.
- Trade on the go and need multilingual support in Mandarin or Malay.
Both IC Markets and Exness are excellent choices for Singapore traders, but the best broker depends on your trading style. IC Markets wins on spreads and execution, making it ideal for scalpers and high-volume traders. Exness offers lower barriers to entry and instant withdrawals, perfect for beginners and those who value flexibility. For Singapore traders using local payment methods like Bank Transfer, Skrill, Neteller, or USDT, both brokers provide seamless support. While neither is regulated by the Monetary Authority of Singapore (MAS), their strong international licenses ensure a secure trading environment. Ultimately, if you prioritize cost efficiency and speed, go with IC Markets; if you need low minimum deposits and instant payouts, Exness is your pick.