Quick Verdict — New Zealand Traders
Best Overall
IC Markets
Higher overall score & more features
Best Spreads
Exness
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for New Zealand Muslims
Best for Beginners
IC Markets
Better education & support
1:5000 vs 1:2
Max leverage
Head-to-head comparison
New Zealand traders looking for a reliable forex broker often compare IC Markets and Exness, both rated 4.8/5. IC Markets is known for its ultra-low spreads and deep liquidity, ideal for scalping and algorithmic trading. Exness, on the other hand, offers flexible leverage up to unlimited and a wide range of deposit options including USDT, which appeals to Kiwis who want convenience. Both brokers are globally recognised and accept New Zealand clients, though they are not directly regulated by the local financial regulator. This comparison focuses on trading costs, platforms, regulation, and payment methods specifically for New Zealand traders, helping you decide which broker suits your style.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
Winner
VS
Exness
FCA · CySEC · ASIC
3.5
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IC Markets | Exness | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Exness |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Exness |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Exness |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Exness |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | Exness |
For New Zealand traders, trading costs are crucial. IC Markets offers raw spreads from 0.0 pips with a $3.50 commission per lot, making it highly competitive for high-volume traders. Exness provides spreads from 0.1 pips on its Zero account with a $3.50 commission, while its Standard account has no commission but wider spreads. Over 100 lots per month, IC Markets can save you up to $50 in spread costs compared to Exness. However, Exness's Standard account is better for low-volume traders who prefer no commission.
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Account Types Comparison
| Account Type | IC Markets | Exness |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $10 |
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Leverage Comparison - New Zealand Traders
| Entity / Asset | IC Markets | Exness |
|---|
| New Zealand (offshore) | Up to 1:5000 | Up to 1:2 |
| Forex major pairs | 1:5000 | 1:2 |
| 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 New Zealand Traders
Traders in New Zealand typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IC Markets | Exness | 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 | ✗ | ✗ | Exness |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | Exness | Winner |
|---|
| Execution model | ECN/STP | True ECN | Exness |
| 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 superior execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data centre. Exness provides execution speeds of around 60ms with no dealing desk intervention. For New Zealand scalpers and high-frequency traders, IC Markets is the better choice due to lower latency. Exness is still reliable for most traders, with slippage protection and a 99.9% order execution rate.
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Regulation & Safety for New Zealand Traders
| Safety Factor | IC Markets | Exness |
|---|
| 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 broker is directly regulated by the local financial regulator in New Zealand, but they comply with international standards. For New Zealand traders, this means your funds are held in segregated accounts and you have access to investor compensation schemes in certain jurisdictions.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for New Zealand traders may differ by entity.
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Deposits & Withdrawals for New Zealand
| Payment Method | IC Markets | Exness |
|---|
| 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 | crypto takes 30–60 minutes, and bank cards or wires take 1 to 5 business days |
New Zealand traders can deposit and withdraw using Bank Transfer, Skrill, Neteller, and USDT at both brokers. IC Markets supports these methods with no deposit fees and withdrawal fees only for bank transfers (approx. $20). Exness offers instant deposits for e-wallets and USDT, with no fees for most methods. Minimum deposits are lower at Exness ($200) compared to IC Markets ($200). Withdrawals are processed within 24 hours for e-wallets and USDT, while bank transfers take 1-3 business days. Both brokers support NZD deposits via Bank Transfer, making it easy for Kiwis to fund their accounts.
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Islamic Accounts - Swap-Free for New Zealand Muslims
| Islamic Account Feature | IC Markets | Exness |
|---|
| 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 Exness offer Islamic (swap-free) accounts for New Zealand Muslim traders. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, with no additional fees. Exness offers Islamic accounts on Standard and Zero accounts, but some currency pairs may incur swap charges after a holding period (e.g., 7 days for major pairs). New Zealand traders should contact support to confirm eligibility and any specific conditions. Both brokers require a declaration of faith for Islamic account approval.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IC Markets | Exness | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✓ | Exness |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated team for New Zealand clients. Exness provides multilingual support 24/7, including English, with faster response times on live chat. Both brokers have comprehensive FAQ sections and educational resources. For New Zealand traders, Exness's support is slightly more responsive during NZ business hours, while IC Markets excels in technical support for platform issues.
| Mobile Feature | IC Markets | Exness | 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 |
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Education & Research Tools
| Resource | IC Markets | Exness | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
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Real User Reviews - Trustpilot
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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
Exness
Pros
+Top-tier regulated
+Islamic swap-free account
+24/7 customer support
Cons
-No TradingView
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Who Should Use Which Broker? - New Zealand Guide
Choose IC Markets if you...
- Are a scalper or algorithmic trader who needs ultra-low spreads and fast execution.
- Trade high volumes (over 50 lots per month) and want to minimise trading costs.
- Prefer MetaTrader or cTrader with advanced charting and API access.
- Are comfortable with a higher minimum deposit of $200.
Choose Exness if you...
- Want flexible leverage up to unlimited for larger positions.
- Prefer low minimum deposits ($10) and instant deposits via USDT or e-wallets.
- Are a beginner or low-volume trader who values no-commission accounts.
- Need a broker with strong Islamic account options and 24/7 support.
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FAQ - IC Markets vs Exness in New Zealand
Is IC Markets or Exness better for New Zealand?
+Can New Zealand traders use both brokers legally?
+Which broker has lower spreads for New Zealand traders?
+How do New Zealand traders deposit at IC Markets and Exness?
+Do both brokers offer Islamic accounts for New Zealand?
+Final Verdict - New Zealand 2026
IC Markets wins overall
For New Zealand traders, both IC Markets and Exness are top-tier brokers with a 4.8/5 rating. IC Markets is the best choice for cost-conscious scalpers and algorithmic traders who prioritise low spreads and fast execution. Exness is ideal for traders who want flexibility with unlimited leverage, low minimum deposits, and multiple payment options like Bank Transfer, Skrill, Neteller, and USDT. If you are a high-volume trader, IC Markets will save you money on spreads. If you are a beginner or prefer easy deposits, Exness is more accessible. Always verify the broker's status with the local financial regulator and choose based on your trading style. Both brokers offer excellent support and regulation, ensuring a safe trading environment for Kiwis.
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.
