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.
welcome to the forum!
you ideally want to hear from people who have used both and can compare - i have not, sorry
i have never used Exness and wouldn’t
regarding IC, they are a “tricksy” 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 don’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 “broker” is where and by whom your account is regulated
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.
I’ve never had any trouble with them, albeit like every other broker regulated or not they are slow to process a withdrawal.