Headline Rates: Exness vs IC Markets
The two brokers use different rebate structures, which makes a direct comparison non-trivial. Exness pays as a percentage of the spread, while IC Markets Raw Spread pays a fixed dollar amount per lot.
| Feature | Exness | IC Markets |
|---|---|---|
| Rebate Structure | 40% of spread | $7.00/lot (Raw) |
| Forex (EURUSD) | ~$7.00/lot equiv. | $7.00/lot |
| Gold (XAUUSD) | ~$7.00/lot equiv. | $7.00/lot |
| Spreads (EURUSD) | 0.1 pips (Std) | 0.0 pips + comm (Raw) |
| Min Deposit | $1 | $200 |
| Withdrawal Speed | Instant | 1–2 days |
| Leverage | Unlimited | 1:500 |
| Regulation | FCA, FSCA, CySEC | ASIC, CySEC, FSA |
Which Pays More for Forex Trading?
For standard forex pairs (EURUSD, GBPUSD, USDJPY), the two brokers are effectively equal on rebate value at around $7 per standard lot. The difference lies in the cost structure: Exness Standard has no commission but a slightly wider spread; IC Markets Raw has 0.0 pips spread but charges a $7/lot round-turn commission. After rebate, both effectively cost the same per trade.
The practical advantage for most traders: Exness is simpler. There's no commission line on your statement — just the spread and the rebate. IC Markets Raw is better for traders who monitor execution cost closely and prefer knowing the exact commission per trade.
Which Pays More for Gold (XAUUSD)?
For gold, IC Markets has a meaningful execution advantage. IC Markets' XAUUSD spread averages 0.0–0.15 pips on Raw — among the tightest available. Exness Standard averages 1.4–2.0 pips on gold. Even though both pay similar rebate values, the lower spread at IC Markets means lower net cost for gold traders doing high frequency or scalping.
If you primarily trade gold, the combination of IC Markets' tight gold spread + $7/lot rebate results in a lower net cost per trade than Exness Standard for most volume levels.
Which is Better for African & Asian Traders?
Both brokers serve Africa and Asia well, but with different strengths:
- Exness: Better for Nigeria, Kenya, Tanzania — local bank transfers, NGN/KES/TZS funding, FSCA-regulated entity for Southern Africa
- IC Markets: Better for Indonesia, Malaysia, Vietnam — ASIC-regulated for stronger protection, local bank transfers in SEA, tighter spreads preferred by Asian scalpers
- For South Africa: Both have FSCA-regulated entities — choose based on trading style
- For Brazil/LATAM: Exness's instant withdrawal and PIX support (coming) gives it an edge
The Verdict
For most traders: Exness is easier to start with, has a lower minimum deposit, and pays instant withdrawals. IC Markets is better for scalpers and high-frequency traders who need the tightest spreads on forex and gold. Many active traders use both — open one Exness account for standard trading and one IC Markets Raw account for gold scalping.
The best way to decide is to enter your actual trading volume into our Rebate Optimizer. It calculates the exact monthly rebate from all 8 brokers based on what you actually trade, instrument by instrument. The result shows you clearly which broker combination pays the most for your specific profile.