When choosing a Forex broker, traders often compare leading brokers like IC Markets and Exness. Both of these platforms offer excellent services, but they cater to slightly different needs. In this post, we’ll dive into the comparison of IC Markets vs Exness, looking at factors like regulation, trading platforms, fees, and more. Let’s find out which one might be the best choice for your trading journey.
This table provides a clear side-by-side comparison of key features between IC Markets and Exness.
| Feature | IC Markets | Exness |
|---|---|---|
| Regulation | ASIC, CySEC, FSA | FCA, CySEC, FSCA |
| Trading Platforms | MT4, MT5, cTrader | MT4, MT5 |
| Spreads | From 0.0 pips (Raw Spread Account) | From 0.3 pips (Standard Account) |
| Commission | $3.5 per lot (Raw Spread Account) | No commission on Standard Account; commissions on Raw/Zero Spread |
| Leverage | Up to 1:500 | Up to 1:2000 (unlimited on some accounts) |
| Account Types | Standard, Raw Spread, cTrader | Standard, Raw Spread, Zero, Pro |
| Deposit Methods | Bank transfer, Credit/Debit cards, PayPal, Neteller | Bank transfer, Credit/Debit cards, Skrill, Cryptocurrency |
| Customer Support | 24/7 Live Chat, Email, Phone | 24/7 Live Chat, Email, Phone |
Regulation and Safety
Safety is a top priority for any trader, and both IC Markets and Exness are well-regulated brokers.
- IC Markets is regulated by several top-tier authorities, including the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in Seychelles. This ensures that IC Markets operates under strict guidelines, offering a safe trading environment.
- Exness is also regulated by multiple top-tier organizations, including CySEC, the Financial Conduct Authority (FCA) in the UK, and the South African Financial Sector Conduct Authority (FSCA). Like IC Markets, Exness complies with international standards to provide a secure trading experience.
In terms of regulation, both brokers score high, but if you are trading in specific regions like Australia, IC Markets might be the preferred option due to its local regulatory coverage.
Trading Platforms
Both brokers offer a wide range of trading platforms to suit different trading styles.
- IC Markets provides access to popular platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their advanced charting tools, ease of use, and reliability. For traders who value flexibility and customization, IC Markets stands out as a solid option.
- Exness, on the other hand, also offers MT4 and MT5, making it suitable for traders already familiar with these platforms. However, Exness does not offer cTrader, which may be a drawback for traders who prefer that platform.
Both brokers provide mobile apps for trading on the go, but IC Markets has a slight edge due to its broader platform options.
Fees and Spreads
Trading costs are a key consideration when comparing brokers. Let’s look at the fees and spreads for IC Markets vs Exness.
- IC Markets is known for its low spreads, especially on Raw Spread Accounts. The spreads can go as low as 0.0 pips on major pairs like EUR/USD, and the commission is around $3.5 per lot for this account type. If you prioritize tight spreads and low commissions, IC Markets may be the better choice.
- Exness, however, offers a mix of account types with varying spreads and commission structures. Their Standard Account comes with slightly higher spreads, starting from 0.3 pips, but without any commission. Exness’s Raw Spread and Zero Spread accounts are more competitive, with commissions similar to IC Markets.
Both brokers offer competitive pricing, but if you are an active trader or scalper, IC Markets’ tighter spreads and low commissions might appeal more.
Leverage
Leverage can significantly impact your trading, and each broker offers different maximum leverage options.
- IC Markets offers leverage of up to 1:500, which is sufficient for most traders. However, traders in some regions like Europe or Australia may face lower leverage limits due to regulatory restrictions.
- Exness stands out with its incredibly high leverage, offering up to 1:2000 or even unlimited leverage on certain account types. This feature might attract traders looking for higher risk and reward, but it also comes with increased risk of loss.
If you are comfortable with high-risk trading strategies, Exness may be a more appealing option due to its extreme leverage offerings.
Account Types
The types of accounts offered by brokers can vary widely and are important for matching the broker to your trading style.
- IC Markets offers three main account types: Standard Account, Raw Spread Account, and cTrader Raw Spread Account. The Standard Account has no commission, while the Raw Spread accounts provide access to lower spreads but with a commission per trade.
- Exness offers a broader variety of account types, including Standard, Raw Spread, Zero Spread, and Pro Accounts. Each account type comes with different spreads and commission structures, giving traders more flexibility in choosing the right account for their strategy.
Both brokers offer demo accounts, which is a great way for beginners to practice trading without risking real money.
Deposits and Withdrawals
The ease and cost of funding your account can influence your trading experience.
- IC Markets offers a range of deposit methods, including bank transfer, credit/debit cards, PayPal, and Neteller. Deposits are usually free, but withdrawal methods might have some fees depending on your chosen method.
- Exness supports a variety of payment options as well, including bank transfer, credit cards, Skrill, Neteller, and even cryptocurrency. Exness is particularly known for its fast and free withdrawals, which can be a big plus for traders who need quick access to their funds.
Customer Support
Good customer support can make a big difference, especially if you’re facing issues with your account or platform.
- IC Markets offers 24/7 customer support through live chat, email, and phone. Their support is highly rated, and they provide help in multiple languages, which is useful for international clients.
- Exness also provides 24/7 customer support, including live chat, phone, and email. They have support in multiple languages and are known for their fast response times.
Both brokers excel in customer support, but the range of language options might be broader with Exness, depending on your region.
Conclusion
Choosing between IC Markets and Exness depends largely on your individual trading needs.
- If you are a scalper or active trader seeking low spreads, multiple trading platforms, and tight regulation, IC Markets is likely the better choice for you.
- On the other hand, if you want high leverage, quick withdrawals, and a broader range of account types, Exness may be the ideal option.
Both brokers are reputable, so whichever you choose, you will be in good hands. Make sure to assess your trading style, goals, and risk tolerance before making a decision.
Exness vs IC Markets both are excellent brokers, but the right choice depends on your specific preferences.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.