IC Markets and Exness are leading global Forex brokers, but which one should you trust for your Forex portfolios?
I have conducted an in-depth review of IC Markets vs. Exness to determine which presents the better overall choice and which types of traders will benefit the most at either broker.
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Headquarters | Australia | Cyprus |
Regulators | ASIC, CySEC, FSA | CMA, CySEC, FCA, FSA, FSC Belize, FSC, FSCA |
Owned by Public Company? | No | No |
Year Established | 2010 | 2008 |
Execution Type(s) | ECN/STP | Market Maker |
Minimum Deposit | $200 | $10 |
Negative Balance Protection | N/A | Yes |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4, MetaTrader 5, Proprietary platform |
Average Trading Cost EUR/USD | 0.0 pips ($0.00) | 0.6 pips |
Average Trading Cost GBP/USD | 0.0 pips ($0.00) | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.03 | 6.7 pips |
Average Trading Cost Gold | $0.05 | 11.3 Pips |
Islamic Account | Yes | Yes |
Signals | Yes | No |
US Persons Accepted? | No | No |
Managed Accounts | Yes | No |
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The Main Advantages of IC Markets and Exness
Notable Advantages of IC Markets
- Low commission-based trading fees
- Leading algorithmic Forex trading broker
- NY4 & LD5 data center in New York & London
- Average execution speed under 0.04 seconds
- $89B+ daily Forex trading volume processing
Notable Advantages of Exness
- Ultra-low trading fees
- Swap-free trading on all Forex majors, most Forex minors, gold, crypto, and indices
- $5+ trillion in monthly trading volume
- 1.9 billion executed trades in 2023
- 800,000+ active traders
- 64,000+ partners
- Instant withdrawals
- VPS hosting and API trading
- Deep liquidity and excellent order execution
Features & Platforms
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MT4 | ||
MT5 | ||
cTrader | ||
Automated Trading | Yes | Yes |
DOM? | Yes | Yes |
Guaranteed Stop Loss | No | No |
Scalping | Yes | Yes |
Hedging | Yes | Yes |
One-Click Trading | Yes | Yes |
OCO Orders | No | No |
Interest on Margin | No | No |
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Available Markets
Currency Pairs | Yes | Yes |
Cryptocurrencies | Yes | Yes |
Commodities | Yes | Yes |
Crude Oil | yes | Yes |
Gold | Yes | Yes |
Metals | Yes | yes |
Equity Indices | Yes | Yes |
Stocks (non-CFDs) | No | No |
Bonds | Yes | No |
ETFs | No | No |
Futures | Yes | No |
Synthetics | No | No |
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During my IC Markets review, traders received 2,250+ assets versus just 430+ at Exness, but both brokers offered Forex traders 100+ currency pairs.
Here is why Exness is a better choice for many traders:
- In-house developed SWFX for ultra-fast order execution
- Deep liquidity via 20+ banks
- Lower trading fees with volume-based rebate program
Typical Spreads & Fees
Average Trading Cost EUR/USD | 0.0 pips ($0.00) | 0.6 pips |
Average Trading Cost GBP/USD | 0.0 pips ($0.00) | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.03 | 6.7 pips |
Average Trading Cost Gold | $0.05 | 11.3 pips |
Average Trading Cost Bitcoin | $12.47 | 161.1 pips |
| Visit Website | Visit Website |
IC Markets offers commission-free and commission-based accounts versus commission-based accounts at Exness, but which one is cheaper?
Exness takes the overall lead as IC Markets fees are higher and lack volume-based rebates.
Account Types
Account Types | IC Markets | Exness |
Commission-free Accounts | Yes | Yes |
Commission-based Accounts | Yes | Yes |
Demo Accounts | Yes | Yes |
Islamic Accounts | Yes | Yes |
Social / Copy Trading | Yes | Yes |
Managed Accounts | No | No |
The IC Markets account types have higher fees for MT4/MT5 traders, while the Exness account types include in-house managed accounts. Both brokers provide demo accounts and support algorithmic and copy trading.
Are there any other noteworthy differences in the account structure between IC Markets vs Exness?
Here is what stands out the most:
- Exness has lower trading fees
- Exness has volume-based rebates
- TradingView is equally available
Minimum Deposit
Deposit Snapshot | IC Markets | Exness |
Minimum Deposit | $200 | $10 |
Deposit Fees | Third-Party | Third-party |
E-wallets | Yes | Yes |
Cryptocurrencies | No | No |
Localized Methods | Yes | Yes |
Total Deposit Methods | 14 | 15 |
Supported Deposit Currencies | USD, EUR, GBP, 7+ | USD, EUR, GBP, 10+ |
How difficult is it to deposit at IC Markets vs Exness ?
The Exness minimum deposit and the IC Markets minimum deposit are $200, both reasonable requests but higher than the minimum deposit requirements at many competitors. IC Markets offers more payment processors, while Exness allows more deposit currencies, including gold, placing it slightly ahead of IC Markets.
Security & Trust
Country of the Regulator | Australia, The Bahamas, Cyprus, Seychelles | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao |
Name of the Regulator | ASIC, CySEC, FSA | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA |
Regulatory License Number | 335692, SD018, SIA-F214, 362/18 | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 |
Regulatory Tier | 1, 4, 4, 1 | NA |
IC Markets vs Exness
IC Markets
Pros | Cons |
Excellent choice of trading platforms consisting of MT4/MT5 and cTrader | The minimum deposit is slightly higher but within a reasonable range |
Market-leading MT4 upgrade package and VPS hosting | |
Social trading support via Myfxbook, MetaTrader Signals, and ZuluTrade | |
Maximum leverage of 1:500, deep liquidity, and superb trade execution |
Exness
Pros | Cons |
Instant withdrawals from a trusted broker with numerous payment processors | No beginner education |
High level of transparency and financial audits by Big Four accountancy Deloitte | |
Multi-regulated broker with outstanding order and volume statistics | |
24/7 multi-lingual customer service |
IC Markets is a world-class broker and leader in algorithmic trading, but Exness takes the lead due to lower fees, when volume-based rebates apply, and banking services.