IC Markets vs Exness Australia 2026: Which ASIC Broker Wins for Local Traders?

When comparing trading costs, IC Markets generally offers lower spreads for Australia traders, particularly on its Raw Spread account with spreads from 0.0 pips on EUR/USD plus a $3.50 per lot commission. Exness also provides competitive spreads starting from 0.0 pips on its Zero account with a $3 per lot commission, but raw ECN spreads are slightly wider on average. For high-volume traders, IC Markets' tighter spreads can lead to significant savings—especially on major pairs like AUD/USD and GBP/USD. Exness, however, offers zero commissions on its Standard account, which may appeal to beginners or lower-volume traders. Both brokers have no hidden fees for Australia clients, but IC Markets edges out for scalpers and day traders who value minimal spreads.

Both brokers support MetaTrader 4, MetaTrader 5, and cTrader, giving Australia traders access to industry-leading platforms. IC Markets is particularly strong for cTrader, offering advanced charting and depth-of-market tools that suit scalpers and algo traders. Exness also provides these platforms plus its proprietary Exness Terminal for web-based trading. For Australia traders, both brokers offer VPS hosting for low-latency execution, important for those using Expert Advisors. IC Markets' integration with TradingView is a plus for charting enthusiasts. Overall, platform choice is similar, but IC Markets' cTrader offering is more refined for high-frequency trading.

IC Markets is renowned for its raw ECN execution with no requotes, offering average execution speeds under 40ms. Exness also provides fast execution with a similar ECN model, but its execution speed can vary based on account type. For Australia traders, both brokers have data centers in London and New York, but IC Markets’ lower latency is a key advantage for scalpers and high-frequency traders. Exness’ no-stop-loss trading feature is unique but may not suit all strategies.

Both IC Markets and Exness are regulated by the Australian Securities and Investments Commission (ASIC), ensuring strict oversight and client fund protection. IC Markets holds AFSL no. 335692 and operates from Sydney, while Exness’ Australian entity is licensed under AFSL 518475. For Australia traders, this means both brokers adhere to ASIC’s leverage cap of 30:1 for retail clients and maintain segregated client accounts. Exness also holds additional licenses from the FCA and CySEC, adding an extra layer of global regulation. While both are equally safe, IC Markets’ local headquarters may offer faster support for Australia-specific issues.

Australia traders can deposit and withdraw using BPAY, POLi, and Bank Transfer at both IC Markets and Exness—all methods are free and processed quickly. IC Markets also accepts credit/debit cards, PayPal, Neteller, and Skrill, while Exness supports Skrill and local bank transfers. BPAY and POLi deposits are credited within 1-2 hours, ideal for traders needing fast funding. Withdrawals at both brokers are processed within 24 hours, but Exness offers instant withdrawals for e-wallets, a major advantage. Bank transfers take 1-3 business days. IC Markets does not charge withdrawal fees, while Exness may apply fees for certain methods. Both brokers support AUD-denominated accounts, eliminating conversion costs.

Both IC Markets and Exness offer Islamic (swap-free) accounts for Australia Muslim traders who need to comply with Sharia law. IC Markets provides Islamic accounts on request for all account types, with no swap charges on overnight positions. Exness automatically offers swap-free accounts for clients from Islamic countries, including Australia, but only for specific account types and instruments. Both brokers require proof of Islamic faith or residence in a Muslim-majority country. It’s important to note that Islamic accounts may have restrictions on certain instruments or holding periods. For Australia traders, both options are reliable, but IC Markets’ process is more straightforward.

IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated Sydney office for Australia traders. Exness also provides 24/7 support in multiple languages, including English, via live chat and email. Both have responsive teams, but IC Markets’ local presence means faster resolution for Australia-specific queries. Exness’ support is slightly more global, but response times are comparable. For Australia traders, IC Markets may edge ahead for phone support during local business hours.