IC Markets vs FxPro: Which Broker Suits Mongolia Traders in 2026?

For Mongolia traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side. FxPro’s spreads start from 0.6 pips on cTrader and 1.2 pips on MT4/MT5. On a standard EUR/USD trade of 1 lot, IC Markets costs around $7 round turn, while FxPro costs $12–$24 depending on the platform. For high-volume Mongolian traders, IC Markets saves significant money over time. FxPro’s higher spreads may still suit lower-frequency traders who prefer simplicity.

IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, and WebTrader, giving Mongolian traders flexibility. FxPro provides MT4, MT5, cTrader, and its own FxPro Edge platform. For Mongolia traders, cTrader is particularly useful for its advanced charting and fast execution. IC Markets’ platform selection is broader, but FxPro’s proprietary platform is user-friendly for beginners. Both support mobile trading, essential for traders in Ulaanbaatar or other cities with varying internet speeds.

IC Markets uses a No Dealing Desk (NDD) model with straight-through processing, offering average execution speeds under 40ms. FxPro also uses NDD execution with speeds around 50ms. For Mongolia traders, this means minimal slippage and fast trade execution, crucial for scalping and news trading. IC Markets’ lower latency can be a slight advantage, especially for high-frequency strategies.

IC Markets is regulated by ASIC (Australia), CySEC (Cyprus), and the FSA (Seychelles). FxPro is regulated by the FCA (UK), CySEC, and the FSCA (South Africa). For Mongolia traders, these regulators provide strong client protection, including negative balance protection and segregation of funds. The local financial regulator in Mongolia does not directly supervise these brokers, but international regulation ensures a high level of security. FxPro’s FCA regulation is particularly strict, while IC Markets’ ASIC license is well-respected.

Both IC Markets and FxPro support Bank Transfer, Skrill, Neteller, and USDT for Mongolia traders. IC Markets also accepts credit/debit cards, PayPal, and UnionPay, while FxPro adds Apple Pay and bank wire. USDT deposits are processed instantly with low fees, ideal for crypto-friendly Mongolian traders. Bank transfers take 1-3 business days, while e-wallets and USDT are instant. Withdrawals are processed within 24 hours for e-wallets and USDT; bank transfers take 3-5 days. IC Markets has no deposit fees, and FxPro charges a small fee for bank transfers. Both brokers ensure smooth transactions for Mongolian clients.

IC Markets offers Islamic (swap-free) accounts for all account types except the Standard account. FxPro provides swap-free accounts on its Standard and Raw accounts. For Mongolia’s Muslim traders, both brokers require a simple request via customer support. IC Markets’ Islamic accounts have no time limit, while FxPro’s may have a 12-month cap for some instruments. Both comply with Sharia law by not charging or paying overnight interest. This makes both brokers suitable for Islamic traders in Mongolia.

IC Markets offers 24/7 live chat, email, and phone support in English and several other languages. FxPro provides 24/5 live chat, email, and phone support, with a dedicated account manager for VIP clients. For Mongolia traders, IC Markets’ 24/7 support is advantageous due to time zone differences. Both have responsive teams, but IC Markets’ round-the-clock availability gives it an edge.