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IC Markets Overview for Mongolia
Founded in 2007 and headquartered in Sydney, Australia, IC Markets has grown into one of the world's largest forex brokers, serving over 200,000 clients globally. For Mongolia traders, IC Markets offers a compelling mix of low spreads, fast execution, and a wide range of trading instruments. The broker is particularly attractive for retail forex traders in Mongolia due to its support for USDT deposits, which bypass traditional banking delays, and its robust infrastructure that works well even with Mongolia's internet speeds. IC Markets is not regulated locally by the Financial Regulatory Commission of Mongolia, but its international licenses from ASIC, CySEC, FSA, and SCB provide a high level of trust. With a minimum deposit of $200 and leverage up to 500:1, it suits both beginners and experienced traders. The broker's headquarters in Australia and 18 years of operation further reinforce its credibility.
| Detail | Information |
|---|
| Founded | 2007 |
| Headquarters | Australia |
| Regulated by | ASIC,CySEC,FSA,SCB |
| Min Deposit | $200 |
| Max Leverage | 5000 |
| Platforms | MT4, MT5, cTrader |
| Islamic Account | Available |
| Copy Trading | Not available |
| Demo Account | Available |
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Regulation & Safety — Is IC Markets Safe for Mongolia?
Segregated Client Funds
Yes
Negative Balance Protection
Yes
Safety verdict for Mongolia traders
Always verify IC Markets's regulation at the official regulator website before depositing.
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Spreads & Trading Costs 2026
Which account is cheapest?
For active traders placing 5+ trades/day, ECN/Raw accounts with tight spreads and small commission are usually cheaper.
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|
| EUR/USD | 0.02 pips | $3.50 | $3.52 | 0.80 pips |
| GBP/USD | 0.23 pips | $3.50 | $3.73 | 1.20 pips |
| XAU/USD | 0.12 pips | $3.50 | $3.62 | 0.25 pips |
| S&P500 | 0.30 | $3.50 | $3.80 | 0.50 |
| NASDAQ | 0.80 | $3.50 | $4.30 | 1.50 |
| BTC/USD | $30 | $3.50 | $33.50 | $45 |
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Account Types for Mongolia Traders
Standard Account
No Commission
Min Deposit$200
EUR/USD Spreadfrom 0.80 pips
Commission$0
IslamicAvailable
PlatformsMT4, MT5, cTrader
Raw Spread Account
Best for Scalping
Min Deposit$200
EUR/USD Spreadfrom 0.02 pips
Commission$3.50
IslamicAvailable
PlatformsMT4, MT5, cTrader
| Feature | Available |
|---|
| Demo Account | Yes |
| ECN/Raw Account | Yes |
| Islamic (Swap-free) | Yes |
| Scalping Allowed | Yes |
| Hedging Allowed | Yes |
| Expert Advisors (EA) | Yes |
| Copy Trading | No |
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Deposits & Withdrawals — Mongolia Guide
USDT TRC20
Buy on Binance P2P — transfer to broker
Skrill
Fund via local exchange — transfer
Neteller
Fund via local exchange — transfer
Bank Wire
International transfer (may be restricted locally)
Credit/Debit Card
Visa/Mastercard (may be blocked locally)
Mongolia deposit tip
USDT TRC20 is the most reliable deposit method for most countries. Withdrawal times vary by method — verify with broker support for your specific payment method.
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Islamic Account — Mongolia Muslim Traders
IC Markets offers a genuine Islamic (swap-free) account for Mongolia traders who follow Sharia law. This account eliminates all overnight interest (swap) charges on positions held past 5 PM New York time. It is available on both Standard and Raw Spread account types. There are no hidden fees or additional charges for using the Islamic account, though IC Markets may apply a small administrative fee if positions are held for an extended period (usually beyond 10 days). To apply, simply select 'Islamic Account' during registration or contact customer support after opening a standard account. The account is available for all trading instruments, including forex, indices, and commodities. For Mongolia Muslim traders, this is a compliant option that does not compromise on trading conditions. However, note that some instruments (like certain CFDs) may still incur swap charges if not specifically exempted.
| Feature | Details |
|---|
| Islamic Account Available | Yes |
| Swap Fees | No swap fees |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
Islamic account verdict
Genuine swap-free account available. Always verify the terms with the broker directly to confirm no hidden administration fees.
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Instruments & Markets in Mongolia
| Asset Class | Examples | Available | Typical Spread |
|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | All available | 0.02 pips |
| Gold (XAU/USD) | Spot Gold | Available | 0.12 pips |
| Silver (XAG/USD) | Spot Silver | Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | Available | 0.30 |
| Crypto CFDs | BTC, ETH, XRP, SOL | Available | $30 |
| Shares CFDs | Apple, Tesla, Amazon | Available | 0.02% |
Most popular instruments for Mongolia traders
Gold (XAU/USD), EUR/USD, and major stock indices are the most popular instruments among Mongolia traders.
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Education & Research Tools
Video Tutorials & Courses
3.5
Webinars (Live & Recorded)
3.0
Tip for Mongolia traders
Platform is in English but many educational resources and YouTube tutorials are available in local languages from trader communities.
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Customer Support — Mongolia Review
Support verdict for Mongolia
Live chat is the fastest and most reliable support channel. Check the broker's website for current response time commitments.
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Common Mistakes Mongolia Traders Make with IC Markets
- Mistake: Not verifying the USDT network (ERC20 vs TRC20) before depositing. Always double-check the network to avoid losing funds.
- Using Bank Transfer for small deposits – bank fees can eat into your capital. Use Skrill or USDT instead for amounts under $500.
- Ignoring the Islamic account if you are a Muslim trader – you can request it after registration to avoid swap charges.
- Over-leveraging with the 500:1 maximum – Mongolia traders should use lower leverage (e.g., 50:1) to manage risk effectively.
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IC Markets vs Competitors in Mongolia
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|
| IC Markets (current) | $200 | 0.02 pips | Yes | No | 3.6 |
| Pepperstone | $0 | 0.09 pips | Yes | Yes | 4.9 |
| Exness | $10 | 0.10 pips | Yes | No | 4.8 |
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Security & Fund Protection — IC Markets
Yes
Segregated Funds
Client funds held separately from company funds
Yes
Negative Balance Protection
You cannot lose more than you deposit
Yes
Top-tier Regulation
FCA, ASIC, or equivalent oversight
Fund safety verdict for Mongolia traders
IC Markets segregates all client funds and is regulated by top-tier authorities.
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IC Markets User Reviews & Ratings
CompareBroker Expert Rating
3.6
★★★★★
Based on 50+ data points tested by our team
Independently verified
What traders love
+ Fast execution speeds
+ Tight spreads on major pairs
+ Reliable platform performance
+ Quick withdrawal processing
+ Responsive customer support
Common complaints
- Limited local payment methods
- No welcome bonus
- Higher spreads on exotic pairs
- Limited educational content
- No local language support
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IC Markets Latest News & Updates 2026
IC Markets expands TradingView integration
IC Markets has enhanced its TradingView integration, adding bracket orders and advanced order management tools.
IC Markets maintains top-tier regulatory status
IC Markets continues to hold its regulatory licenses, ensuring client fund protection for Mongolia traders.
New instruments added for Mongolia traders
IC Markets has added new trading instruments including additional forex pairs and commodity CFDs.
Final Verdict — Is IC Markets Worth It for Mongolia Traders?
3.6/5
★★★★★
IC Markets is a highly recommended broker for Mongolia traders who prioritize low spreads, fast execution, and a wide range of trading instruments. Its regulation by ASIC and CySEC provides a strong safety net, even without local oversight. The support for USDT deposits is a major advantage, allowing Mongolia traders to fund accounts quickly and cheaply. However, the lack of Mongolian language support and the $200 minimum deposit may be drawbacks for absolute beginners. The broker is best suited for experienced retail forex traders in Mongolia who want professional trading conditions. If you are a scalper or day trader, the Raw Spread account on cTrader is an excellent choice. For Muslim traders, the Islamic account is a compliant option. Overall, IC Markets is a solid, trustworthy broker that delivers on its promises.
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FAQ — IC Markets for Mongolia Traders
Is IC Markets safe for Mongolia traders?+
How can I deposit money in IC Markets from Mongolia?+
Does IC Markets have Islamic account?+
What is the minimum deposit for IC Markets in Mongolia?+
What trading platforms does IC Markets offer?+
Is IC Markets regulated and legit?+
Disclaimer: This review is for educational purposes only. Trading CFDs involves significant risk — 74-89% of retail accounts lose money. CompareBroker.io may receive affiliate compensation. Last updated July 2026.
