IC Markets vs RoboForex for Mongolia Traders (2026)

Cost is a decisive factor for Mongolia traders, especially when every MNT pip matters. IC Markets offers a Raw Spread account with EUR/USD spreads from 0.0 pips and a $3.50 per lot commission per side. RoboForex's Standard account shows spreads from 1.3 pips, while its Pro account drops to 0.5 pips but with no direct commission — yet the all-in cost is still higher than IC Markets. For a typical Mongolian trader executing 5 standard lots per week, IC Markets can save around $50-$80 weekly compared to RoboForex's Pro account. Swap charges also differ: RoboForex often has higher overnight fees on currencies like USD/JPY, affecting swing traders in Mongolia. Over a month, these differences compound significantly. If low-cost execution is your priority, IC Markets is clearly the more economical choice.

Both brokers deliver the full MetaTrader 4 and MetaTrader 5 suite, which Mongolia traders know well. However, IC Markets adds cTrader and TradingView integration, giving active traders advanced charting and depth-of-market tools that are essential for scalping the Asian session. RoboForex offers its proprietary R StocksTrader platform, which provides access to CFDs on global stocks and futures — a useful feature for diversifying beyond forex. For emerging retail traders in Mongolia relying on a stable VPS connection, IC Markets offers lower latency in Tokyo and Singapore data centers. RoboForex's WebTrader works fine but is less customizable. If you trade only on your phone, both apps are good, but IC Markets' mobile app supports more order types and better execution feedback, which matters during high-impact news from China or the US.

Execution quality separates these two brokers for Mongolia traders who scalp or trade news events. IC Markets leverages low-latency proxies in Tokyo and Singapore, with average execution speeds below 40ms and no dealing desk intervention. RoboForex uses its own liquidity providers but has occasional requotes during high volatility, especially on its Standard account. IC Markets reports a 0.2% slippage rate, while RoboForex's slippage is slightly higher on minor pairs like USD/MNT (not native) and exotic USD crosses. For a Mongolia trader with a VPS in Tokyo, IC Markets offers a stable connection to the global market. If you are a position trader, RoboForex's execution is acceptable, but for precision entry and exit, IC Markets wins unequivocally.

Neither IC Markets nor RoboForex is regulated by Mongolia's Financial Regulatory Commission (FRC). The FRC does not issue licenses to retail forex brokers, so Mongolian traders operate in a legal gray area when using offshore services. IC Markets is regulated by ASIC in Australia and FSA in Seychelles, offering a strong tier-1 oversight framework. RoboForex is regulated by FSC in Belize, which is considered lower tier. For Mongolia traders, this distinction matters because IC Markets' ASIC license imposes stricter client fund segregation and reporting standards. While FRC Mongolia does not directly protect you, choosing a broker with stronger external regulation reduces the risk of fund misappropriation. Always verify the entity you account with, as IC Markets routes many Mongolian clients to its Seychelles entity with no negative-balance protection, while RoboForex clients are under Belizean law.

Mongolia traders have several deposit options with both brokers, but the available methods differ. IC Markets supports Bank Transfer in MNT and USDT (TRC20/ERC20), but does not directly integrate QPay. RoboForex also accepts Bank Transfer and USDT, and uniquely supports QPay, which enables instant local transfers from Mongolian bank cards via the QPay app. Bank Transfer is the slowest method, taking 2-3 business days and often incurring an intermediary fee around $10-$20. USDT deposits are usually processed within 15 minutes and have minimal fees; many Mongolia traders prefer this because they already use crypto exchanges. Withdrawals face the same methods: IC Markets processes USDT withdrawals without network fees if using TRC20, while RoboForex charges a small fee for some methods. For QPay users, RoboForex is the only option, but IC Markets offers greater reliability for larger amounts.

Mongolia's Muslim population, concentrated in the Bayan-Ölgii province, often seeks Sharia-compliant trading options. Both IC Markets and RoboForex provide Islamic swap-free accounts that eliminate interest charges on overnight positions. IC Markets applies swap-free status without needing extensive documentation, and supports it on all account types including Raw Spread, which is ideal for active Muslim traders. RoboForex also offers Islamic accounts, but often requires clients to submit a formal request and may apply a waiting period or a small admin fee after keeping positions open for over a week. For Mongolian Muslim traders, the simplicity and transparency of IC Markets' Islamic account policy is more appealing. Just note that swap-free accounts typically do not allow arbitrage strategies; both brokers monitor for abuse, so trade normally to maintain the status.

Customer support is a practical consideration for Mongolia traders, especially when dealing with deposits via USDT or QPay. IC Markets offers 24/7 live chat with English-speaking staff and response times under 2 minutes on average. RoboForex also provides 24/7 support but in practice waits can be longer, and its English chat agents sometimes struggle with Mongolia-specific issues like QPay resets. Neither broker offers Mongolian-language support, but IC Markets has a more comprehensive FAQ and video tutorials that help beginners understand margin and rollover. For traders in Ulaanbaatar needing urgent assistance during platform downtime, IC Markets' faster and more professional support is a clear advantage over RoboForex.