We explored Exness and IC Markets to find each Forex brokers key trading features such as trading costs, forex platforms and financial regulators to help you determine the right broker for your needs.
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Exness and IC Markets are both reputable forex brokers, but they differ in several key areas. Exness excels in offering a variety of account types and competitive spreads, while IC Markets stands out with its superior trading platforms and execution speed.
When it comes to trading costs, both Exness and IC Markets strive to offer competitive pricing. However, there are some differences to note. Standard Account Spreads and RAW Account Spreads are two key areas to consider when comparing costs.
Exness offers a slightly lower spread on its standard account compared to IC Markets. This can be beneficial for traders who prefer a fixed spread. Standard account spreads are a crucial factor to consider when choosing a forex broker. For more information on this, you can check out our Standard Account Testing section.
When we look at the standard account spreads, it’s clear that there are some differences between IC Markets and Exness. IC Markets consistently offers lower spreads across all forex pairs. For instance, the EUR/USD pair has a spread of 0.62 with IC Markets, compared to 1 with Exness. This trend continues with other pairs such as GBP/USD and AUD/USD, where IC Markets offers spreads of 0.83 and 0.77 respectively, while Exness offers 1.2 and 1.4.
In my opinion, IC Markets appears to be the cheaper option when it comes to standard account spreads. However, it’s important to remember that low spreads don’t necessarily mean better value. Other factors such as execution speed, ease of use, and customer service are also crucial when choosing a forex broker.
| Forex Pair | IC Markets | Exness | Industry Average |
|---|---|---|---|
| EUR/USD | 0.62 | 1 | 1.35 |
| USD/JPY | 0.74 | 1.1 | 1.54 |
| GBP/USD | 0.83 | 1.2 | 1.68 |
| AUD/USD | 0.77 | 1.4 | 1.63 |
| USD/CAD | 0.85 | 2.1 | 1.93 |
| EUR/GBP | 1.27 | 1.6 | 1.69 |
| EUR/JPY | 1.3 | 2.2 | 2.04 |
| AUD/JPY | 1.5 | 2.1 | 2.31 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
Comparing these brokers to the industry average, both IC Markets and Exness offer competitive spreads. The industry average spread for EUR/USD is 1.35, which is significantly higher than what IC Markets offers. Even Exness, which has higher spreads than IC Markets, still falls below the industry average for most forex pairs.
In conclusion, while IC Markets offers lower spreads, it’s essential to consider other factors when choosing a broker. Both IC Markets and Exness offer competitive spreads compared to the industry average, making them both viable options for forex traders.
On the other hand, IC Markets offers a lower spread on its RAW account, which can be advantageous for traders who prefer a variable spread. For more information on this, you can check out our RAW Account Testing section.
Both brokers charge similar commission rates, making them equally competitive in this aspect.
Exness does not charge any deposit or withdrawal fees, while IC Markets charges a small fee for certain withdrawal methods.
Both brokers do not charge any inactivity or account maintenance fees, making them cost-effective choices for long-term traders.
Verdict: Considering the overall trading costs, Exness edges out IC Markets due to its lower standard account spreads and absence of withdrawal fees.
| Criteria | Exness | IC Markets |
|---|---|---|
| Standard Account Spreads | Lower | Higher |
| RAW Account Spreads | Higher | Lower |
| Commission Rates | Similar | Similar |
| Deposit & Withdrawal Fees | No Fees | Some Fees |
| Other Fees | No Fees | No Fees |
Exness is regulated by the Financial Services Authority (FSA) of Seychelles, while IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). Both brokers are also members of the Financial Commission, which provides additional security for their clients’ funds.
Verdict: In terms of trust and regulation, IC Markets has a slight edge over Exness due to its dual regulation by ASIC and CySEC.
| Criteria | Exness | IC Markets |
|---|---|---|
| Regulators | FCA, CySEC, CMA, FSC-BVI, CBSC, FSCA, FSA-S | ASIC, CySEC, FSA-S |
| Financial Commission Membership | Yes | Yes |
Trust and regulation are critical factors when choosing a forex broker. Both Exness and IC Markets are regulated by top-tier authorities, ensuring a high level of trust and security for traders. For more details on their regulatory status, check out the Trust Regulation section.
Both Exness and IC Markets offer a range of trading platforms to suit different trading styles and preferences. For more detailed information, you can refer to our comprehensive Trading Platform section.
Both brokers offer MetaTrader 4 and 5, which are popular for their advanced charting features and expert advisors.
IC Markets offers cTrader, which is known for its intuitive interface and fast execution speed. Exness, on the other hand, does not offer cTrader but provides TradingView charts on its website.
| Criteria | Exness | IC Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | Yes |
| TradingView | yes (charts) | No |
| Other Platforms | No | No |
| VPS Services | Yes | No |
Exness offers social and copy trading through its partnership with ZuluTrade, while IC Markets does not have a social trading platform.
Both brokers offer free VPS services to their clients, along with a range of other trading tools such as economic calendars and market analysis.
| Broker | Limit Order Speed | Market Order Speed |
|---|---|---|
| Exness | N/A | N/A |
| IC Markets | 233 ms | 168 ms |
Verdict: In terms of trading platforms, IC Markets wins due to its offering of cTrader, which is preferred by many traders for its superior execution speed and user-friendly interface.
When it comes to execution speed, IC Markets is known for its ultra-fast execution, thanks to its superior technology and direct access to top-tier liquidity providers. Exness also offers fast execution speed, but it may vary depending on the type of account and trading conditions. For more detailed information, you can refer to our comprehensive Trading Environment section.
| Broker | Limit Order | Market Order |
|---|---|---|
| Exness | N/A | N/A |
| IC Markets | 12 ms | 13 ms |
Exness offers a variety of account types, including Standard Cent, Standard, Pro, and Zero accounts. IC Markets, on the other hand, offers Standard, Raw Spread, and cTrader Raw accounts. Both brokers offer demo accounts for beginners to practice trading. For more detailed information, you can refer to our comprehensive Account Types section.
Verdict: Exness wins in this category due to its wider range of account types, catering to different trading styles and preferences.
| Criteria | Exness | IC Markets |
|---|---|---|
| Account Types | Standard Cent, Standard, Pro, Zero | Standard, Raw Spread, cTrader Raw |
Both Exness and IC Markets offer excellent customer service, available 24/5. They provide multiple channels of communication, including live chat, email, and phone support. However, Exness offers support in more languages compared to IC Markets.
Verdict: While both brokers offer excellent customer service, Exness wins this category due to its multilingual support.
| Criteria | Exness | IC Markets |
|---|---|---|
| Customer Service | 24/5, Multilingual | 24/5 |
There are other factors to consider when choosing between Exness and IC Markets.
Exness requires a lower minimum deposit compared to IC Markets, making it more accessible for beginner traders.
Both brokers offer a variety of payment methods, including credit cards, bank transfers, and e-wallets. However, Exness offers a few more options compared to IC Markets.
IC Markets offers a wider range of trading instruments, including forex, CFDs, commodities, indices, and cryptocurrencies. Exness offers a similar range but with fewer options.
Verdict: Considering the minimum deposit, payment methods, and trading instruments, Exness wins this category due to its lower minimum deposit and more payment options. For more detailed information, you can refer to our comprehensive Trading Factor section.
| Criteria | Exness | IC Markets |
|---|---|---|
| Minimum Deposit | Lower | Higher |
| Payment Methods | More Options | Fewer Options |
| Trading Instruments | Fewer Options | More Options |
| Forex CFD | 96 | 61 |
| Shares CFD | 98 | 1600+ |
| Cryptos CFD | 34 | 25 |
| Commodities CFD | 10 Metals 3 Energies |
4 Metals (Gold vs 6 currencies) (Silver vs 3 currencies) 8 Softs 3 Energies |
| Indices CFD | 10 | 23 |
| Bonds/Treasuries CFD | No | 9 |
| Spread Betting (UK only) | No | No |
| Other Products | No | Yes |
| Shares (underlying) | No | Yes |
Best For Beginner Traders: Considering the lower minimum deposit, wider range of account types, and multilingual customer support, Exness is the best choice for beginner traders.
Best For Experienced Traders: With its superior trading platforms, fast execution speed, and wider range of trading instruments, IC Markets is the best choice for experienced traders.
| Criteria | Exness | IC Markets |
|---|---|---|
| Trust Score | 5.85 | 6.67 |
| Trading Costs | Lower | Higher |
| Trading Platforms | MetaTrader 4/5, TradingView | MetaTrader 4/5, cTrader |
| Execution Speed | Fast | Ultra-Fast |
| Account Types | More Options | Fewer Options |
| Customer Service | Better | Good |
| Other Factors | Better | Good |
Exness is generally better for beginner traders due to its lower minimum deposit, wider range of account types, and multilingual customer support.
IC Markets offers superior trading platforms, including MetaTrader 4/5 and cTrader, known for their advanced features and fast execution speed.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
