IC Markets Vs Plus500: Which Broker Suits China Traders Best In 2026?

Costs are critical for China traders, especially those trading high volumes. IC Markets offers a Raw Spread account with spreads from 0.0 pips and a commission of $3.50 per lot round turn, resulting in an effective cost of about $7 per standard lot on EUR/USD. Plus500 uses a spread-only model, with EUR/USD spreads averaging 0.6–1.2 pips, equivalent to $6–$12 per lot—higher for active traders. For scalpers and day traders, IC Markets' lower spreads and direct market access deliver significant savings. Plus500's no-commission structure appeals to occasional traders, but its wider spreads erode profits over many trades.

IC Markets provides the industry-standard MetaTrader 4 and 5, cTrader, and WebTrader, all customizable with advanced charting, automated trading via Expert Advisors, and one-click execution. This is ideal for China traders using algorithmic strategies. Plus500 offers a proprietary web and mobile platform with a clean, intuitive interface, but lacks advanced tools like EAs or depth of market. For Chinese users, Plus500 supports simplified order types and a demo account, but IC Markets' platform flexibility is superior for serious traders. Both platforms are available in English, with limited Chinese language support.

IC Markets uses straight-through processing (STP) with no dealing desk, offering execution speeds under 40ms on average. This is ideal for scalpers and high-frequency traders in China who rely on minimal slippage. Plus500 uses a market maker model, meaning it takes the opposite side of trades, which can lead to requotes and slippage during volatile markets. For China traders executing high-volume strategies, IC Markets' execution quality is superior, while Plus500's model may be acceptable for longer-term swing traders or those using smaller positions.

China traders have two main deposit methods: USDT (Tether) and international bank transfers (SWIFT). IC Markets accepts USDT deposits with no fee and processes withdrawals within 1 business day, while bank transfers take 2–5 days. Minimum deposit is $200. Plus500 supports USDT and bank transfers, with a $100 minimum, and withdrawals via the same methods are typically processed within 1–3 days. Both brokers avoid Chinese payment gateways, so traders must use offshore accounts. IC Markets offers faster execution for crypto deposits, while Plus500 has a lower entry point. Neither charges internal fees, but bank intermediary fees apply for SWIFT transfers.

Both IC Markets and Plus500 provide Islamic (swap-free) accounts for Muslim traders in China, in compliance with Sharia law. IC Markets offers swap-free status on all account types (Standard, Raw Spread, and cTrader) upon request, with no time limit or extra charges, though long-term holding may incur admin fees on certain instruments. Plus500 automatically applies swap-free status after account verification, also without additional fees. For China traders, IC Markets' flexibility across multiple platforms is a plus, while Plus500's automatic application simplifies the process. Both are suitable for Islamic traders, but IC Markets is more accommodating for active trading.

IC Markets offers 24/7 customer support via live chat, email, and phone, with English as the primary language. Chinese language support is limited to email and chat during business hours. Plus500 provides 24/7 multilingual support, including Chinese language assistance via live chat and email, which is a clear advantage for China traders. IC Markets' response times are faster for technical issues, but Plus500's dedicated Chinese support streamlines communication. For China traders, Plus500's language accessibility may outweigh IC Markets' technical superiority.