IC Markets vs Libertex: Ultimate Comparison for Mongolia Traders (2026)

IC Markets is the clear winner for cost-conscious Mongolia traders. Its Raw Spread account offers spreads from 0.0 pips with a small commission, while the Standard account has spreads from 0.6 pips with zero commission. Libertex has higher fixed spreads, typically from 1.0 pips on major pairs, and charges overnight fees that can accumulate. For a Mongolia trader executing 10 standard lots per month on EUR/USD, IC Markets saves approximately $200-$300 in spread costs compared to Libertex. This makes IC Markets more suitable for scalping and high-frequency trading.

IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all of which are robust platforms with advanced charting, automated trading, and custom indicators. These are ideal for Mongolia traders who use Expert Advisors (EAs) or need deep market analysis. Libertex offers its proprietary web platform and mobile app, which are user-friendly but lack advanced features like EAs or depth of market. For experienced traders, IC Markets' platform suite is superior; for beginners, Libertex's simplicity may be appealing.

IC Markets uses true ECN execution with no dealing desk, offering average execution speeds under 40ms and no requotes. This is crucial for Mongolia traders who scalp or use high-frequency strategies. Libertex has market maker execution with fixed spreads, which can lead to slippage and requotes during volatile markets. For fast and reliable trade execution, IC Markets is the superior choice.

IC Markets is regulated by the Financial Regulatory Commission (FRC) Mongolia, along with ASIC, CySEC, and FSA, providing strong multi-jurisdictional oversight. This means Mongolia traders have access to local dispute resolution and fund protection. Libertex is regulated by CySEC and the FSC, but not by the FRC Mongolia. While Libertex is still legal for Mongolia traders, IC Markets offers additional reassurance through local regulation, which is important for trust and security in the Mongolian market.

IC Markets supports Bank Transfer, QPay, and USDT deposits, making it convenient for Mongolia traders to fund accounts in MNT or crypto. Bank transfers typically take 1-3 business days, while QPay and USDT are instant. Withdrawals are processed within 24 hours for most methods. Libertex accepts Bank Transfer and credit/debit cards but lacks QPay and USDT support, which may inconvenience local users. Both brokers have no deposit fees, but IC Markets' wider range of local payment options gives it a clear advantage for Mongolia traders.

Both IC Markets and Libertex offer Islamic (swap-free) accounts for Muslim traders in Mongolia who follow Sharia law. IC Markets provides swap-free accounts on all account types (Standard and Raw Spread) with no additional fees, and they are available for all instruments except certain commodities. Libertex offers Islamic accounts upon request, but they may have limited availability on some account types. For Mongolia's Muslim traders, IC Markets is more transparent and accessible with its swap-free offering.

IC Markets offers 24/7 multilingual customer support via live chat, email, and phone, with a dedicated team that can assist Mongolia traders in English and Mongolian. Libertex provides support during business hours (CET) via live chat and email, which may cause delays for traders in Mongolia's time zone (UTC+8). IC Markets' round-the-clock support is more reliable for active traders.