IC Markets vs Tickmill 2026: Which Broker is Better for Mongolia Traders?
Which broker is better for Mongolia traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Mongolia Traders
For retail traders in Mongolia, choosing the right forex broker is crucial for success in 2026. IC Markets and Tickmill are two of the most popular brokers globally, both offering competitive conditions for Mongolia traders. IC Markets holds a strong 4.8/5 rating, known for ultra-tight spreads, deep liquidity, and advanced platforms like MetaTrader 4, MetaTrader 5, and cTrader. Tickmill, with a 4/5 rating, is praised for its low-cost Raw account and regulatory oversight. Both brokers support local payment methods such as Bank Transfer, Skrill, Neteller, and USDT, making deposits and withdrawals convenient for Mongolia traders. Additionally, both brokers offer Islamic accounts for Muslim traders. This comparison will help you decide which broker aligns better with your trading style and local needs in Mongolia.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| Instrument | IC Markets | Tickmill | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Tickmill |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Tickmill |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Tickmill |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Tickmill |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $100 | Tickmill |
For Mongolia traders, trading costs are a key factor. IC Markets offers a Raw Spread account with spreads from 0.0 pips and a commission of $3.50 per lot per side. Tickmill's Raw account also starts from 0.0 pips but charges a higher commission of $4 per lot per side. On standard accounts, IC Markets has spreads from 0.6 pips with no commission, while Tickmill's Classic account has spreads from 1.0 pips. For high-volume traders in Mongolia, IC Markets provides a slight edge in overall cost efficiency, especially on major forex pairs like EUR/USD and USD/JPY.
Account Types Comparison
| Account Type | IC Markets | Tickmill |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $100 |
Leverage Comparison - Mongolia Traders
| Entity / Asset | IC Markets | Tickmill |
|---|---|---|
| Mongolia (offshore) | Up to 1:5000 | Up to 1:1000 |
| Forex major pairs | 1:5000 | 1:1000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Trading Instruments - Assets Available
| Asset Class | IC Markets | Tickmill | 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+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | Tickmill |
| ETFs | ✗ | ✗ | Tie |
Platforms Comparison
| Platform | IC Markets | Tickmill |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
IC Markets offers a wider range of platforms, including MetaTrader 4, MetaTrader 5, and cTrader, all available on desktop, web, and mobile. Tickmill provides MetaTrader 4 and MetaTrader 5, but lacks cTrader. For Mongolia traders, cTrader is beneficial for its advanced charting and fast execution. Both brokers offer mobile apps for iOS and Android, ensuring you can trade on the go. The platform choice may depend on your preference for algorithmic trading or manual analysis.
Execution Quality - Speed & Slippage
| Factor | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Tickmill |
| 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 is known for its ultra-fast execution with no requotes, using Equinix NY4 data centers and low-latency connectivity. Tickmill also offers fast execution but with slightly higher average execution speeds. For Mongolia traders, IC Markets provides a slight advantage in high-frequency and scalping strategies due to its superior infrastructure and deep liquidity pool.
Regulation & Safety for Mongolia Traders
| Safety Factor | IC Markets | Tickmill |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by top-tier authorities like the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in Seychelles. Tickmill is regulated by the UK Financial Conduct Authority (FCA), CySEC, and the Labuan Financial Services Authority (LFSA). For Mongolia traders, both brokers offer strong regulatory protection, but IC Markets' ASIC regulation is considered more robust. The local financial regulator in Mongolia does not directly oversee these brokers, so traders should rely on international tier-1 regulation for safety.
Deposits & Withdrawals for Mongolia
| Payment Method | IC Markets | Tickmill |
|---|---|---|
| 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 | Most withdrawals 1 business day; bank wire 1-3 days, Credit/Debit Cards: Up to 8 working days. |
Both IC Markets and Tickmill support multiple deposit and withdrawal methods for Mongolia traders. You can use Bank Transfer, Skrill, Neteller, and USDT (Tether) for funding your account. Deposits via e-wallets and USDT are instant, while bank transfers take 1-3 business days. Minimum deposit is $200 for IC Markets and $100 for Tickmill. Withdrawals are processed within 24 hours for e-wallets and USDT, and 1-5 business days for bank transfers. Both brokers do not charge deposit fees, but bank transfers may incur intermediary bank charges. USDT deposits are particularly popular in Mongolia due to low transaction costs and speed.
Islamic Accounts - Swap-Free for Mongolia Muslims
| Islamic Account Feature | IC Markets | Tickmill |
|---|---|---|
| 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 Tickmill offer Islamic (swap-free) accounts for Mongolia traders who follow Sharia law. These accounts do not charge or pay overnight swap interest, making them compliant with Islamic finance principles. To open an Islamic account, traders must request it during registration or contact customer support. IC Markets offers swap-free accounts on all account types, while Tickmill provides them on both Raw and Classic accounts. This is a key feature for Muslim traders in Mongolia seeking ethical trading options.
Customer Support Comparison
| Support Feature | IC Markets | Tickmill | 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 provides 24/7 customer support via live chat, email, and phone, with multilingual agents including English support. Tickmill also offers 24/5 support via live chat and email. For Mongolia traders, IC Markets' round-the-clock support is beneficial due to time zone differences. Both brokers have comprehensive FAQ sections and educational resources on their websites.
Mobile App Comparison
| Mobile Feature | IC Markets | Tickmill | 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 | Tickmill | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
IC Markets
Tickmill
Who Should Use Which Broker? - Mongolia Guide
Choose IC Markets if you...
- Want the tightest spreads available, starting from 0.0 pips on Raw account.
- Prefer multiple platforms including cTrader for advanced charting.
- Need 24/7 customer support for trading around the clock.
- Are a scalper or high-frequency trader requiring ultra-fast execution.
Choose Tickmill if you...
- Prefer a lower minimum deposit of $100 to start trading.
- Value FCA regulation for additional security.
- Want a simpler account structure with competitive spreads.
- Are a beginner looking for a user-friendly platform like MT4.
FAQ - IC Markets vs Tickmill in Mongolia
Final Verdict - Mongolia 2026
For Mongolia traders in 2026, IC Markets is the better overall choice due to its higher rating (4.8/5), tighter spreads, broader platform selection, and 24/7 support. It excels for active traders and scalpers. Tickmill is a strong alternative, especially for beginners or those with smaller capital, thanks to its lower minimum deposit and FCA regulation. Both brokers support local payment methods like Bank Transfer, Skrill, Neteller, and USDT, and offer Islamic accounts. Ultimately, your choice depends on your trading volume and platform preference. IC Markets leads in cost and execution, while Tickmill offers simplicity and regulatory peace of mind.