Quick Verdict — Mongolia Traders
Best Overall
IC Markets & Hantec Markets
Higher overall score & more features
Best Spreads
Hantec Markets
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Mongolia Muslims
Best for Beginners
IC Markets
Better education & support
1:5000 vs 1:500
Max leverage
Head-to-head comparison
Mongolia's forex market is growing rapidly, with emerging retail traders seeking reliable brokers that offer low costs, fast execution, and local payment methods. IC Markets and Hantec Markets are two popular choices, but they cater to different trading styles. IC Markets, with a 4.8/5 rating, is known for its raw spreads, MetaTrader platforms, and support for Bank Transfer, QPay, and USDT deposits. Hantec Markets, rated 3.6/5, offers fixed spreads and a more traditional broker experience, but lacks local payment options. For Mongolia traders, the choice often comes down to cost efficiency versus simplicity. IC Markets is ideal for those who trade frequently and want tight spreads, while Hantec Markets may suit beginners who prefer predictable costs. Both brokers accept Mongolia clients and offer Islamic accounts, but only IC Markets provides QPay and USDT deposits, which are crucial for local convenience.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
Winner
VS
Hantec Markets
FCA · ASIC · JFSA
3.6
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IC Markets | Hantec Markets | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Hantec Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Hantec Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Hantec Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Hantec Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | Hantec Markets |
IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.50 commission per lot per side, making it highly cost-effective for high-volume Mongolia traders. On the Standard account, spreads start from 0.6 pips with no commission. Hantec Markets uses fixed spreads starting from 1.2 pips on EUR/USD, with no commission. For a Mongolia trader executing 10 lots per month, IC Markets can save up to $200 in spread costs compared to Hantec Markets. The difference is even larger for traders using scalping or EA strategies, where tight spreads directly impact profitability.
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Account Types Comparison
| Account Type | IC Markets | Hantec Markets |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $10 |
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Leverage Comparison - Mongolia Traders
| Entity / Asset | IC Markets | Hantec Markets |
|---|
| Mongolia (offshore) | Up to 1:5000 | Up to 1:500 |
| Forex major pairs | 1:5000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Mongolia Traders
Traders in Mongolia typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IC Markets | Hantec Markets | 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+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | 1,700+ | Hantec Markets |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | Hantec Markets | Winner |
|---|
| Execution model | ECN/STP | True ECN | Hantec Markets |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets uses raw ECN execution with no dealing desk intervention, offering average execution speeds of 40ms on MetaTrader 4. Hantec Markets uses a hybrid model with some manual intervention, resulting in slower execution (around 100ms). For Mongolia traders using scalping or high-frequency strategies, IC Markets' faster execution and lower slippage are critical. Hantec Markets' fixed spread model can lead to requotes during news events, which is a disadvantage for active traders.
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Regulation & Safety for Mongolia Traders
| Safety Factor | IC Markets | Hantec Markets |
|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets Global is not
FCA-authorised — the FCA has issued a public warning about this entity, and its clients do not have FOS or FSCS protection; verify the specific entity and licence before depositing. Neither broker is directly regulated by the FRC Mongolia, but they operate under reputable jurisdictions. For Mongolia traders, FCA regulation (
Hantec Markets) offers stronger investor protection, including negative balance protection and access to the Financial Ombudsman Service.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Mongolia traders may differ by entity.
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Deposits & Withdrawals for Mongolia
| Payment Method | IC Markets | Hantec Markets |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Crypto / USDT: 1 to 3 hours (for eligible wallets)E-wallets: Within hours up to 1 dayBank / Wire Transfers: 2 to 5 business days |
IC Markets supports Bank Transfer, QPay, and USDT deposits, making it the most convenient option for Mongolia traders. Bank transfers take 1-3 business days, QPay is instant, and USDT deposits are processed within minutes. Minimum deposit is $200. Withdrawals are free and processed within 24 hours via the same method. Hantec Markets accepts Bank Transfer and credit/debit cards only, with no QPay or USDT support. Minimum deposit is $100, but withdrawals can take 2-5 business days. For Mongolia traders who value speed and local payment methods, IC Markets is the clear winner.
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Islamic Accounts - Swap-Free for Mongolia Muslims
| Islamic Account Feature | IC Markets | Hantec Markets |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both brokers offer Islamic (swap-free) accounts for Muslim traders in Mongolia. IC Markets provides swap-free accounts on request for all account types (Standard, Raw Spread, cTrader). Hantec Markets offers Islamic accounts automatically for clients who declare their Muslim faith, with no swap charges on overnight positions. Neither broker charges additional fees for Islamic accounts. However, IC Markets' tighter spreads give Muslim traders in Mongolia a cost advantage, especially for long-term positions where swap fees are avoided.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IC Markets | Hantec Markets | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 live chat, email, and phone support in English, with response times under 2 minutes on live chat. Hantec Markets provides support during business hours (Monday-Friday) via live chat and phone, with slower email responses. For Mongolia traders who trade during Asian sessions, IC Markets' round-the-clock support is more reliable, especially for technical issues during volatile market hours.
| Mobile Feature | IC Markets | Hantec Markets | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
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Education & Research Tools
| Resource | IC Markets | Hantec Markets | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
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Real User Reviews - Trustpilot
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Pros & Cons of Each Broker
IC Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-$200 min deposit
-No 24/7 support
Hantec Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - Mongolia Guide
Choose IC Markets if you...
- Want the lowest spreads (from 0.0 pips) for cost-effective trading
- Need local deposit methods like QPay and USDT for instant funding
- Use scalping or EA strategies that require fast execution
- Prefer a wide range of platforms including cTrader and MetaTrader
Choose Hantec Markets if you...
- Prefer fixed spreads for predictable trading costs
- Want stronger regulatory protection under FCA UK
- Are a beginner trader who values simplicity over low costs
- Do not need QPay or USDT deposits and can use bank transfer
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FAQ - IC Markets vs Hantec Markets in Mongolia
Is IC Markets or Hantec Markets better for Mongolia?
+Can Mongolia traders use both brokers legally?
+Which broker has lower spreads for Mongolia traders?
+How do Mongolia traders deposit at IC Markets and Hantec Markets?
+Do both brokers offer Islamic accounts for Mongolia?
+Final Verdict - Mongolia 2026
IC Markets & Hantec Markets tied wins overall
For Mongolia traders, IC Markets is the superior choice overall, offering tighter spreads, faster execution, and local payment methods like QPay and USDT that align with local banking habits. The ability to deposit in MNT via QPay or use USDT for instant funding gives IC Markets a practical edge for daily trading. While Hantec Markets offers FCA regulation and fixed spreads, its lack of local payment support and higher trading costs make it less competitive for active traders. If you are an emerging retail trader in Mongolia looking to minimize costs and maximize speed, IC Markets is the clear winner in 2026.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
