If you’re diving into the world of online trading, choosing the right broker can make all the difference. Two popular options in the market are Exness and IC Trading. Both have their strengths, but which one suits your trading needs better? In this guide, we’ll compare Exness and IC Trading to help you make an informed choice.
Before we jump into our full review, let’s take a quick look at our top-pick features. The table below provides a clear side-by-side comparison of the key features of both Exness and IC Trading to help you quickly see the differences.
| Feature | Exness | IC Trading |
|---|---|---|
| Founded | 2008 | 2007 |
| Regulation | FCA (UK), CySEC (Cyprus) | ASIC (Australia), CySEC (Cyprus) |
| Trading Platforms | MT4, MT5 | MT4, MT5, cTrader |
| Account Types | Standard, Pro, Zero | Standard, Raw Spread, cTrader |
| Minimum Deposit | $1 (Standard), $200 (Pro, Zero) | $200 |
| Spreads | From 0.3 pips (Standard), tighter on Pro and Zero | From 0.0 pips (Raw Spread), wider on Standard |
| Commission | Applies to Zero account | Applies to Raw Spread account |
| Customer Support | 24/7 via live chat, email, phone | 24/7 via live chat, email, phone |
| Deposit Methods | Bank transfer, credit/debit cards, e-wallets | Bank transfer, credit/debit cards, e-wallets |
| Withdrawal Methods | Bank transfer, credit/debit cards, e-wallets | Bank transfer, credit/debit cards, e-wallets |
| Education Resources | Webinars, tutorials, market analysis | Trading guides, tutorials, webinars |
| Security | High (regulated by FCA, CySEC) | High (regulated by ASIC, CySEC) |
Overview of Exness and IC Trading
Exness:
Founded in 2008, Exness is known for its extensive range of trading instruments and competitive conditions. It has built a solid reputation in the industry with a focus on transparency and customer service.
IC Trading:
IC Trading, a part of IC Markets, is another prominent player in the online trading arena. Established in 2007, it is well-regarded for its low spreads and high-speed execution.
Trading Platforms
Exness:
Exness offers popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are known for their user-friendly interfaces and advanced charting tools. The mobile app is also robust, allowing traders to manage their accounts on the go.
IC Trading:
IC Trading provides access to MT4 and MT5 platforms as well. It also offers cTrader, which is favored by many for its intuitive interface and advanced trading features. The platforms are highly customizable, which is a plus for experienced traders.
Account Types
Exness:
Exness offers a variety of account types to cater to different trading styles. These include Standard, Pro, and Zero accounts. The Standard account is great for beginners, while the Pro and Zero accounts are designed for more advanced traders seeking tighter spreads and faster execution.
IC Trading:
IC Trading provides several account options, including Standard, Raw Spread, and cTrader accounts. The Raw Spread account is particularly attractive for traders who want to benefit from ultra-low spreads, though it comes with a commission fee.
Spreads and Fees
Exness:
Exness is known for its competitive spreads. The Standard account features spreads starting from 0.3 pips, while the Pro and Zero accounts offer even tighter spreads. The Zero account charges a commission on trades, which is offset by the lower spreads.
IC Trading:
IC Trading also offers tight spreads, especially with its Raw Spread account. Spreads can be as low as 0.0 pips, though a commission fee applies. The Standard account has wider spreads but no commission, making it a good option for less frequent traders.
Customer Support
Exness:
Exness provides 24/7 customer support through various channels, including live chat, email, and phone. The support team is known for being responsive and helpful, which is crucial for resolving any trading issues quickly.
IC Trading:
IC Trading also offers 24/7 support through live chat, email, and phone. The support team is experienced and can assist with a wide range of trading and account-related queries.
Regulation and Security
Exness:
Exness is regulated by several authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This ensures that it operates with a high level of transparency and security.
IC Trading:
IC Trading is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This regulation provides a secure trading environment and protects traders’ interests.
Deposits and Withdrawals
Exness:
Exness offers a range of deposit and withdrawal options, including bank transfers, credit/debit cards, and e-wallets. Transactions are typically processed quickly, with many options offering instant or same-day transfers.
IC Trading:
IC Trading provides various methods for deposits and withdrawals, such as bank transfers, credit/debit cards, and e-wallets. While most transactions are processed swiftly, some methods may take a bit longer, especially international transfers.
Educational Resources
Exness:
Exness offers a range of educational resources, including webinars, tutorials, and market analysis. These resources can help traders of all levels improve their skills and stay informed about market trends.
IC Trading:
IC Trading provides educational materials such as trading guides, tutorials, and market news. It also offers webinars that cover various trading strategies and market insights, which can be beneficial for both new and experienced traders.
Conclusion
Choosing between Exness and IC Trading depends on your individual trading preferences and needs. Exness is known for its broad range of account types and competitive spreads, making it a great choice for many traders. IC Trading, on the other hand, offers ultra-low spreads and a choice of trading platforms, which may appeal to traders seeking advanced features and cost-efficiency.
Both brokers are reputable and regulated, ensuring a secure trading environment. By considering your trading style and preferences, you can select the broker that best aligns with your goals. Happy trading!
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.