Partner code
vnd
for assistance

Between ICMarkets vs Exness – Choose which exchange to trade

Nowadays, there are a significant number of investors who are wondering about and comparing two trading platforms, ICMarkets vs Exness. Both of these exchanges are widely known globally. Attracting the participation of many investors. To answer questions about choosing the right trading platform, please join Learn Forex Trading in the detailed analysis of both exchanges below!

Information overview of ICMarkets and Exness

Deciding whether to trade at ICMarkets or Exness depends on many factors. Users need to consider their options carefully. Below is some legal information when choosing between ICMarkets vs Exness:

Legal information of ICMarkets Forex exchange

ICMarkets is a foreign exchange trading platform from Australia. Established in 2007 in Sydney, Australia. Similar to other trading exchanges, ICMarkets also verifies its reputation. Through receiving licenses from key financial authorities globally. Specifically:

  • Raw Trading Ltd (IC Market Global) is regulated by FSA – Financial Services Authority of Seychelles. License Number: SD018.
  • International Capital Markets Pty Ltd is authorized and regulated by ASIC – the Australian Securities and Investments Commission. Has License No. 335692.
  • ICMarkets (EU) Ltd is regulated by CYSEC – Cyprus Securities and Exchange Commission. Has License No. 362/18.
  • ICMarkets Ltd is regulated by SCB – Bahamas Securities Commission, with License No. SIA-F214.
Legal information of ICMarkets Forex exchange
Legal information of ICMarkets Forex exchange

These financial authorities are responsible for monitoring the activities of ICMarkets. Ensure all transactions take place transparently and publicly. At the same time, protect the interests of customers and handle complaints, if any.

>>>See more: Instruct with an ICMarkets open account swiftly

Exness legal information

It can be said that the license is a measure to prove the reputation of the exchange. Below are some Exness legal documents:

  • Financial Conduct Authority (FCA)

FCA is short for Financial Conduct Authority. Is the financial regulator in the UK.

Exness (UK) Ltd is an investment firm licensed and regulated by the FCA in the United Kingdom. Operating under Financial Services Registration number 730729.

  • Cyprus Securities and Exchange Commission (CySEC)

CySEC, short for Cyprus Securities and Exchange Commission.

Exness (Cy) Ltd is a Cyprus investment company, licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 178/12.

  • Seychelles Financial Services Authority (FSA)

FSA, short for The Seychelles Financial Services Authority. Is an independent regulator for non-banking financial services in Seychelles.

Exness (SC) Ltd is a securities trading company licensed and regulated by the Seychelles Financial Services Authority (FSA) under license number SD025.

  • Financial Services Commission (FSC)

FSC is short for the British Virgin Islands Financial Services Commission.

Exness (VG) Ltd is an FSC-licensed company in the British Virgin Islands, with registration number 2032226 and investment business license number SIBA/L/20/1133.

ICMarkets vs Exness: Put on the comparison table

Between ICMarkets vs Exness, which exchange should I choose?
Between ICMarkets vs Exness, which exchange should I choose?

ICMarkets vs Exness: Which exchange has more trading tools?

Exness has now developed a series of trading tools. Includes: Analytical tools, trader’s personal computer, economic calendar, VPS virtual server service, price fluctuation history, Trading CentralWebTV, and currency converter.

At ICMarkets, tools such as virtual private servers, trading servers, and advanced trading tools are available.

ICMarkets vs Exness both use two platforms, MT4 and MT5. This means they offer a diverse range of trading tools. These tools are very useful to support and provide necessary information to both new and experienced traders.

Trading platform on Exness and ICMarkets

Both Exness and ICMarkets platform support Forex trading on the two most popular platforms today, MT4 and MT5. However, ICMarkets has now added another platform, cTrader. According to reviews, this is a fairly stable trading platform, with fast processing and guaranteed safety.

In addition, cTrader also allows investors to place conditional orders. Including adjusting stop loss and taking profit orders even on weekends. This is something that MT4 and MT5 cannot do.

Thus, in terms of trading platforms, ICMarkets is more modern, more diverse, and provides many more trading utilities than Exness.

>>>See more: ICMarkets Review: Trading platform and top advantages

Evaluation of ICMarkets and Exness trading markets

At the present time ICMarkets vs Exness, Exness offers the main investment products. Includes forex, precious metals, cryptocurrencies, energies, stocks, and the following indices:

  • Forex: Includes 100 forex pairs including major currencies, minor currencies, and rare currencies.
  • Metals: Diverse portfolio of investment products with gold and silver.
  • Digital currencies: Including popular currencies such as BTC, ETH, ADA…
  • Energy: Supply of natural gas and crude oil, including UK/OIL, US/OIL, XNG/USD…
  • Stocks: CFD stocks of large corporations such as Apple, Abbott Laboratories, Amazon, BlackBerry…
  • Indices: Including outstanding indices such as AUS200, DE30, FR40, JP225, STOXX50, UK100...

ICMarkets, meanwhile, offers a range of products suitable for many different investment needs:

  • Foreign exchange: Includes 61 currency pairs.
  • Goods: With more than 22 different goods. Includes: agricultural products, energy, and metals.
  • Digital currency: Allows trading of a series of digital currencies such as BTC/USD, ETH/USD, DSH/USD, XRP/USD…
  • Stocks: Offers more than 1800 stocks & ETFs from ASX, Nasdaq & NYSE.
  • Bonds: The exchange offers 9 types of bonds for trading.
  • Futures Contracts: Offers a wide range of futures contracts from around the world, including indices such as ICE USD and CBOE VIX.
  • Indices: The platform offers 25 different types of trading indices.

Account types of the two exchanges

Currently, the 2 accounts ICMarkets vs Exness are the most used. Exness has offered 5 diverse account types including Standard, Standard Cent (standard account), Raw Spread, Zero, and Pro. These account types are suitable for both beginners and professional investors. At the same time, traders also have the opportunity to experience a completely free Demo account.

In the standard account section, Exness offers two types: Standard and Standard Cent

With the professional account part, Exness divides it into 3 options: Raw Spread, Zero, and Pro. For professional accounts, you need to make a minimum deposit of $200.

As for ICMarkets, they offer the following account types:

  • Demo account: Free, applicable to all account types and platforms, allowing trading like a real account.
  • Live account: Allows quick account opening and immediate deposit, providing CFDs on Forex with more than 6 asset classes and over 2000+ products.
  • Raw Spread account (cTrader): Used in Raw Pricing environment and applies ICMarkets prices.
  • Raw Spread Account
  • Standard account
  • Islamic account: Exclusively for traders in Muslim countries.

It can be seen that both Exness and ICMarkets offer the great advantage of a variety of account types. Both offer free Demo accounts for beginners in forex trading. You can refer to this article to compare the two exchanges ICMarkets vs XM.

Minimum fees/deposits and commissions

Compare fees of ICMarkets vs Exness. This difference is expressed through the following contents:

  • ICMarkets has lower spread fees than Exness.
  • Exness does not charge overnight fees, while ICMarkets has very high overnight fees, up to 21.49 USD/lot.

So between Exness and ICMarkets, Exness will save more transaction costs. Especially thanks to the free overnight fees. Investors who want to cut trading costs should prioritize Exness.

For the minimum deposit, Exness sets a very low level, only 01 USD. While ICMarkets requires a minimum deposit of up to 200 USD. Therefore, investors who are new to the market and have limited finances should avoid choosing ICMarkets. Instead, choose Exness to optimize your financial situation.

Spread exchanges and Exness and ICMarkets

Compared to Forex trading exchanges in general, or specifically ICMarkets, Exness has stronger fluctuations in Spread. This is also called the difference between the bid price and the ask price. Especially at the beginning of the week or before important news is announced.

Spread volatility on ICMarkets is lower. This means it is likely to bring in expected profits. However, to ensure achieving planned profits on Exness, traders should limit trading in the morning on the first days of the week.

Leverage of forex exchange ICMarkets vs Exness

In the section related to trading leverage, Exness offers a maximum leverage of 1:2000, while ICMarkets offers a maximum leverage of 1:500. From this, it can be seen that Exness offers significantly higher leverage.

However, using too high a level of leverage also carries many risks. In case of an unsuccessful transaction, the investor may lose all of their capital. Therefore, those who are new to the market should only choose a broker with a trading leverage of 1:100 or less to protect their investment capital.

Customer support service

Both Exness and ICMarkets focus on providing comprehensive customer support. Ensure that traders’ queries and requests are addressed in an efficient and timely manner.

However, ICMarkets does support users through the Live chat feature. Outstanding features of ICMarkets in terms of user support services. This is something that Exness has not been able to do.

Between ICMarkets and Exness, which exchange should I choose?

Choosing between ICMarkets vs Exness depends on many factors. Include your investment goals, trading experience, and nature of the transaction. Simultaneously with other personal factors. 

However, experienced traders, often appreciate this broker thanks to its fast order-matching speed and support for many basLearn Forex Trading fees. Therefore, we think ICMarkets is a suitable choice for experienced investors. Below are the advantages and disadvantages of ICMarkets that traders can refer to:

The advantages and disadvantages of ICMarkets
The advantages and disadvantages of ICMarkets

Some outstanding advantages of ICMarkets

  • Forex trading platform has long-term experience, licensed by leading global financial institutions.
  • Diversify trading product portfolio.
  • Spreads are kept low.
  • Use an advanced, reliable, and secure trading platform.
  • Execute orders quickly with the Raw Pricing trading tool.
  • Supports many flexible deposit and withdrawal methods.
  • Spread levels are kept low, not affecting investors’ expected profits too much.
  • The customer care team is ready to support you 24/7.

Some disadvantages of ICMarkets exchange

  • The minimum deposit required is high, up to 200 USD, making it difficult for new investors to enter the market and financially limiting.
  • The exchange’s overnight fees are relatively high.
  • Withdrawal procedures are quite complicated and withdrawal processing times are often long.
  • The exchange does not provide a Bonus program for investors.

summary

The above article compared two trading platforms, ICMarkets vs Exness. Both are popular brokers and receive high attention in the Forex. Each exchange seems to suit different types of traders. Learn Forex Trading hopes that through this article, you can choose the most suitable trading platform for yourself.

Frequently Asked Questions

Are Exness and ICMarkets a scam?

Both brokers are established and are supervised by reputable regulatory agencies globally. Both Exness and ICMarkets have been in operation for over 10 years and have not had any cases of fraud recorded during their operations.

What are the differences between Exness and ICMarkets?

There are some basic differences between ICMarkets vs Exness including Exness’s lower minimum deposit and improved customer insurance policy. Meanwhile, ICMarkets provides additional futures contract products.

Which traders are suitable for ICMarkets?

ICMarkets is often suitable for professional and experienced investors.

 
Enter partner code
vnd
for assistance

Let's discuss

Get Ebook-EA

Ebook

Instructions for receiving Ebook-EA documents: Here