About Exness and IC market

Broker Discussion
1

I am about to start my forex journey. I have recently opened a demo account in Exness and IC market. I want to know about IC market and Exness. what is the difference between them and which is the better one.

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2

welcome to the forum! :sunglasses:

you ideally want to hear from people who have used both and can compare - i have not, sorry

i have never used Exness and wouldnā€™t

regarding IC, they are a ā€œtricksyā€ brokerage who run multiple different companies and most of the accounts people open with them are not properly regulated (they claim on their website to be regulated by ASIC but if you donā€™t live in Australia yourself and open an account with them, your account will not be ASIC-regulated, and that matters very much!)

the issue that eclipses everything else in importance, before you send money to a counterparty market-maker ā€œbrokerā€ is where and by whom your account is regulated

this thread, this thread and this thread may possibly help you

3

I am led to understand that the most critical aspect of IC markets is that it holds client money in client segregated trust accounts with Westpac and National Australia Bank (NAB) . All client money is managed in accordance with the Client Money Handling rules and held separately to IC Markets company funds. Client money is not used for any operational expenses or purposes.

Iā€™ve never had any trouble with them, albeit like every other broker regulated or not they are slow to process a withdrawal.

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4

ICmarket refused to withdraw my money although ai have evidence for everything they want scam me.

5

None.

ICMarkets is Legitimate brokers if your a resident or citizen of Australia else they will scam you too.

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6

Iā€™ve always hated people who speak without evidence and claim others are guilty without providing any proof. I suggest you verify things for yourself, start with small amounts of money, and test them for at least six months.

7

This is exactly right, and thereā€™s evidence of it all over the web. Anyone doing even minimal ā€œdue diligenceā€ will come to this conclusion.

https://www.forexfactory.com/thread/930372-ic-markets-freezing-up

https://www.forexfactory.com/thread/1048260-is-anyone-going-to-ic-markets-seychelles-on

Opening a small account there and withdrawing small amounts tells you nothing much. What matters is whether you can withdraw big profits, if you make them, and you canā€™t learn that by testing ā€œsmall scale.ā€ Itā€™s really important for people to understand this clearly.

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