IC Markets vs IG: Complete Comparison for Mongolia Traders (2026)

When comparing trading costs for Mongolia traders, IC Markets clearly leads with its Raw Spread account offering spreads from 0.0 pips on major forex pairs like EUR/USD, plus a commission of $3.50 per lot per side. IG's standard spreads are higher—around 0.6 pips on EUR/USD—and its fixed spread accounts come with wider spreads. For Mongolia traders executing high volumes, IC Markets can save hundreds of dollars per month in spread costs. IG's lower leverage limits (up to 1:30 for retail clients under FCA regulation) also reduce potential returns for capital-efficient traders, while IC Markets offers up to 1:500 leverage, which is more attractive for Mongolia traders seeking higher exposure.

Both brokers offer industry-leading platforms, but the choice depends on your trading style. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all of which are fast, customizable, and support automated trading via Expert Advisors (EAs)—a popular feature among Mongolia traders who use algorithmic strategies. IG offers its proprietary web platform, plus MetaTrader 4 and ProRealTime. IG's platform is more beginner-friendly with integrated news and analysis, but its lack of cTrader may disappoint scalpers. For Mongolia traders who prioritize speed and flexibility, IC Markets' platform suite is superior.

Execution quality is a strength for both brokers. IC Markets boasts ultra-low latency execution with servers located in the Equinix NY4 data center, offering average execution speeds under 40ms, which is ideal for scalpers and high-frequency traders in Mongolia. IG also offers reliable execution with no requotes on its proprietary platform, but its execution speed is slightly slower than IC Markets due to its dealing desk model on certain accounts. For Mongolia traders who prioritize speed, IC Markets has the edge.

Regulation is a key consideration for Mongolia traders. IC Markets is regulated by top-tier authorities like the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), offering strong client fund segregation and negative balance protection. IG is regulated by the UK Financial Conduct Authority (FCA), the US Commodity Futures Trading Commission (CFTC), and other bodies, providing an even higher regulatory standard. Both brokers are not directly supervised by the Mongolia local financial regulator, but they accept Mongolia clients under their international licenses. IG's FCA regulation offers the highest level of protection, including access to the UK Financial Ombudsman Service, which may be important for risk-averse Mongolia traders.

For Mongolia traders, deposit and withdrawal options are a critical differentiator. IC Markets supports Bank Transfer, Skrill, Neteller, and USDT (Tether), making it easy to fund accounts using local bank transfers or popular e-wallets and stablecoins. USDT deposits are particularly attractive for Mongolia traders who use crypto exchanges to convert MNT to USD. IG also accepts Bank Transfer, Skrill, and Neteller, but does not support USDT, which limits flexibility. Both brokers process withdrawals quickly, but IC Markets' crypto-friendly approach gives it an edge for Mongolia traders who prefer fast, low-cost transfers. Minimum deposits are low—$200 for IC Markets and $250 for IG—making both accessible to retail traders.

Both IC Markets and IG offer Islamic (swap-free) accounts for Mongolia Muslim traders who require Sharia-compliant trading that avoids interest charges. IC Markets provides Islamic accounts on all account types (Standard, Raw Spread, and cTrader) upon request, with no additional fees for holding positions overnight. IG offers Islamic accounts only on certain account types and may charge an administration fee if positions are held for more than a specified period (e.g., 10 days). For Mongolia traders seeking a truly swap-free experience without extra costs, IC Markets is the better option.

Customer support is available 24/5 from both brokers via live chat, email, and phone. IC Markets offers support in English and several other languages, but not Mongolian. IG provides similar support with a more extensive knowledge base and educational resources. For Mongolia traders, the lack of local language support may be a minor drawback for both, but the live chat response times are fast, and email queries are typically answered within a few hours.