Quick Verdict — Mongolia Traders
Best Overall
IC Markets
Higher overall score & more features
Best Spreads
Admirals
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Mongolia Muslims
Best for Beginners
IC Markets
Better education & support
1:5000 vs 1:30
Max leverage
Head-to-head comparison
For Mongolia retail traders seeking a reliable forex broker, IC Markets and Admirals are two prominent choices. IC Markets, with a 4.8/5 rating, is known for ultra-low spreads, fast execution, and support for USDT deposits—a popular method in Mongolia. Admirals (3.1/5) offers a wider range of instruments including stocks and ETFs, but higher trading costs. Both brokers accept Mongolia clients and provide local payment methods like Bank Transfer, Skrill, Neteller, and USDT. However, IC Markets stands out for cost-conscious traders, while Admirals suits those wanting a multi-asset platform. This comparison helps Mongolia traders decide based on spreads, deposits, and local regulatory considerations.
🏆
Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
Winner
VS
Admirals
FCA · ASIC · CySEC
3.1
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
💹
Trading Costs - Spreads & Commissions
| Instrument | IC Markets | Admirals | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Admirals |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Admirals |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Admirals |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Admirals |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $1 | Admirals |
IC Markets offers raw spreads from 0.0 pips with a $7 commission per lot, ideal for high-volume Mongolia traders. Admirals' standard account has spreads from 0.5 pips with no commission, but overall costs are higher. For a Mongolia trader executing 10 lots per month, IC Markets can save $50–100 compared to Admirals. Lower costs directly impact profitability, especially in volatile markets.
📂
Account Types Comparison
| Account Type | IC Markets | Admirals |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $1 |
⚖️
Leverage Comparison - Mongolia Traders
| Entity / Asset | IC Markets | Admirals |
|---|
| Mongolia (offshore) | Up to 1:5000 | Up to 1:30 |
| Forex major pairs | 1:5000 | 1:30 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Mongolia Traders
Traders in Mongolia typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
📈
Trading Instruments - Assets Available
| Asset Class | IC Markets | Admirals | Winner |
|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | 1,700+ | Admirals |
| ETFs | ✗ | ✓ | Tie |
⚡
Execution Quality - Speed & Slippage
| Factor | IC Markets | Admirals | Winner |
|---|
| Execution model | ECN/STP | True ECN | Admirals |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets offers ultra-fast execution with average latency under 40ms, ideal for scalping. Admirals has slightly slower execution, around 100ms. For Mongolia traders using USDT deposits and trading volatile pairs, IC Markets' speed reduces slippage.
🛡️
Regulation & Safety for Mongolia Traders
| Safety Factor | IC Markets | Admirals |
|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets Global is not
FCA-authorised — the FCA has issued a public warning about this entity, and its clients do not have FOS or FSCS protection; verify the specific entity and licence before depositing. Neither is directly overseen by the local financial regulator in Mongolia. However, both adhere to strict international standards, offering negative balance protection and segregated accounts.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Mongolia traders may differ by entity.
💳
Deposits & Withdrawals for Mongolia
| Payment Method | IC Markets | Admirals |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | e-wallets take instant to 1 business day, credit/debit cards take 1 business day, and bank transfers take 1 to 3 business days. |
Mongolia traders can deposit via Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets processes USDT deposits instantly with no fees, a major advantage for crypto users. Admirals also accepts USDT but may take 1–2 business days. Bank transfers take 2–5 days. Withdrawals are free at IC Markets, while Admirals charges for bank transfers. Minimum deposits are $1 for IC Markets and $100 for Admirals, making both accessible.
☪️
Islamic Accounts - Swap-Free for Mongolia Muslims
| Islamic Account Feature | IC Markets | Admirals |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and Admirals offer Islamic (swap-free) accounts for Mongolia Muslim traders. IC Markets provides swap-free accounts with no time limit or extra fees. Admirals offers Islamic accounts upon request but may charge a small fee after 30 days. IC Markets is more favorable for long-term swap-free trading.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
💬
Customer Support Comparison
| Support Feature | IC Markets | Admirals | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 live chat, email, and phone support in English. Admirals provides 24/5 support with a Mongolia-dedicated phone line. For Mongolia traders in different time zones, IC Markets' round-the-clock support is more convenient.
| Mobile Feature | IC Markets | Admirals | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
📚
Education & Research Tools
| Resource | IC Markets | Admirals | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
⭐
Real User Reviews - Trustpilot
⚖️
Pros & Cons of Each Broker
IC Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-$200 min deposit
-No 24/7 support
Admirals
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
👤
Who Should Use Which Broker? - Mongolia Guide
Choose IC Markets if you...
- Want ultra-low spreads and lower trading costs
- Prefer fast execution for scalping or day trading
- Use USDT deposits for instant funding
- Need a swap-free account with no extra fees
Choose Admirals if you...
- Want to trade stocks, ETFs, and forex from one platform
- Prefer a lower minimum deposit ($100)
- Value a broker with FCA regulation
- Don't mind slightly higher spreads for a wider product range
❓
FAQ - IC Markets vs Admirals in Mongolia
Is IC Markets or Admirals better for Mongolia?
+Can Mongolia traders use both brokers legally?
+Which broker has lower spreads for Mongolia traders?
+How do Mongolia traders deposit at IC Markets and Admirals?
+Do both brokers offer Islamic accounts for Mongolia?
+Final Verdict - Mongolia 2026
IC Markets wins overall
For most Mongolia retail traders, IC Markets is the better choice due to lower spreads, faster execution, and support for USDT deposits. Admirals is suitable for those wanting multi-asset trading and a lower minimum deposit. Both brokers accept Mongolia clients and offer local payment methods (Bank Transfer, Skrill, Neteller, USDT). Since neither is regulated by the local financial regulator, traders should practice due diligence. Overall, IC Markets delivers superior value for active traders in Mongolia.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
