Is IC Markets better than UOB Kay Hian?

Based on our independent rating system, IC Markets scores higher overall at 3.9/5 compared to UOB Kay Hian's 3.3/5. IC Markets edges ahead thanks to tighter spreads, higher leverage, and broader platform support, though UOB Kay Hian remains a strong regional choice for beginners with limited starting capital.

Which broker offers lower trading fees, IC Markets or UOB Kay Hian?

Both brokers advertise spreads starting from 0 pips, but their commission structures differ significantly. IC Markets charges around $3.5 per lot, while UOB Kay Hian charges a much lower $0.18 per lot, making UOB Kay Hian potentially cheaper for high-volume stock and ETF trading.

What is the minimum deposit required for IC Markets compared to UOB Kay Hian?

IC Markets requires a minimum deposit of $200 to open a trading account, while UOB Kay Hian has no minimum deposit requirement at all, making it more accessible for beginners with limited starting funds.

Which broker is safer to trade with, IC Markets or UOB Kay Hian?

Both brokers are regulated by respected tier-1 authorities. IC Markets is overseen by ASIC and CySEC, while UOB Kay Hian holds licences from MAS and SFC. Both provide strong regulatory protection, though the right choice depends on your regional trading preferences.

What trading platforms are available on IC Markets versus UOB Kay Hian?

IC Markets supports MT4, MT5, TradingView, and a proprietary mobile app, giving traders significant flexibility. UOB Kay Hian offers a proprietary web platform, mobile app, and the UTRADE system, which is more limited but tailored to regional stock investors.

Can I open accounts with both IC Markets and UOB Kay Hian?

Yes, there is nothing preventing you from holding accounts at both brokers simultaneously. Many traders diversify across multiple platforms to access different asset classes, regional markets, and trading tools depending on their strategy.

Which broker offers higher leverage, IC Markets or UOB Kay Hian?

IC Markets offers significantly higher leverage of up to 1:500 for eligible clients, while UOB Kay Hian caps leverage at a much more conservative 1:5. Traders seeking amplified exposure typically favor IC Markets, though higher leverage also carries increased risk.

Which broker is more suitable for beginner investors?

UOB Kay Hian is generally considered more beginner-friendly due to its zero minimum deposit requirement, allowing new investors to start without significant upfront capital. IC Markets, while still accessible, requires a $200 minimum deposit and is better suited to traders ready to engage with commission-based forex and CFD trading.

What markets can I trade with IC Markets compared to UOB Kay Hian?

IC Markets provides access to six asset classes, including forex, CFDs, crypto, stocks, indices, and commodities. UOB Kay Hian focuses primarily on stocks, ETFs, indices, and forex, making it a more regionally focused option for equity-oriented investors.

Which broker has been established longer, IC Markets or UOB Kay Hian?

UOB Kay Hian has a considerably longer operating history, founded in 1973 in Singapore, compared to IC Markets, which was founded in 2007 in Sydney, Australia. Longevity can be a reassuring factor for investors prioritizing institutional stability.

Reviewed by Experts Updated 9/19/2026

IC Markets vs UOB Kay Hian: Which Broker Wins in 2026?

IC Markets and UOB Kay Hian cater to very different trading priorities. IC Markets leads with tighter spreads and higher leverage, while UOB Kay Hian appeals to beginners with its zero minimum deposit.

OVERALL WINNER

IC Markets

3.9 / 5Score: 2 / 4

IC Markets delivers institutional-grade pricing and lightning-fast execution for serious forex and CFD traders worldwide.

Min deposit: $200
Max leverage: 1:500
Spread from: 0 pips
Regulators: ASIC, CySEC

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UOB Kay Hian

3.3 / 5Score: 2 / 4

UOB Kay Hian combines five decades of Asian financial heritage with zero minimum deposit accessibility for new investors.

Min deposit: $0
Max leverage: 1:5
Spread from: 0 pips
Regulators: MAS, SFC

Overall Winner

IC Markets

Best for Beginners

UOB Kay Hian

Lowest Fees

IC Markets

Top Regulation

IC Markets

Full comparison Fees & Accounts Pros & cons Verdict Summary FAQ

Side-by-side comparison

Core features compared head-to-head.

Feature	IM IC Markets	UK UOB Kay Hian
Overview
Rating	3.9 / 5	3.3 / 5
Founded	2007	1973
Headquarters	Sydney, Australia	Singapore
Regulation	ASIC, CySEC	MAS, SFC
Fees & Limits
Min Deposit	$200	$0
Spreads From	0 pips	0 pips
Commission	$3.5/lot	$0.18/lot
Max Leverage	1:500	1:5
Platforms & Markets
Trading Platforms	MT4, MT5, TradingView, Proprietary Mobile	Proprietary Web, Proprietary Mobile, UTRADE
Markets Offered	Forex, Cfd, Crypto, Stocks, Indices, Commodities	Stocks, Etf, Indices, Forex

Pros & cons

IC Markets

Pros

Consistently high overall rating of 3.9/5 in our independent research
Extremely competitive raw spreads starting at 0 pips
Generous leverage ceiling of up to 1:500 for qualifying accounts
Broad platform selection including MT4, MT5, and TradingView integration
Wide-ranging market access spanning six distinct asset classes
No fees charged on deposits or withdrawals
Established track record dating back to 2007

Cons

Higher minimum deposit of $200 compared to some competitors
Commission-based pricing model may seem complex to beginners
High leverage options could increase risk for inexperienced traders
Proprietary platform offerings are more limited than third-party integrations
Not headquartered in a jurisdiction with the strictest global oversight tier

UOB Kay Hian

Pros

No minimum deposit required to open an account
Long-standing reputation established in 1973
Low commission rate of $0.18 per lot on eligible trades
Regulated under two established Asian financial authorities
No deposit or withdrawal fees on account transactions
Strong regional expertise across Singapore and Hong Kong markets

Cons

Lower overall rating of 3.3/5 in our independent research
Maximum leverage capped at just 1:5, limiting trading flexibility
Narrower platform lineup restricted to proprietary and UTRADE tools
Fewer supported markets compared to global multi-asset brokers
No support for popular third-party platforms like MT4 or MT5

Our expert verdict

Editor's verdict

Overall winner IC Markets

Lowest fees IC Markets

Best regulation IC Markets

Better for beginners UOB Kay Hian

IC Markets is our recommended pick overall, earning a 3.9/5 rating compared to UOB Kay Hian's 3.3/5. IC Markets wins on fees, leverage, and platform variety, while UOB Kay Hian remains a compelling option for beginners thanks to its zero minimum deposit requirement.

Regulation & Safety

Both brokers operate under respected tier-1 regulatory frameworks, giving traders confidence in fund security and operational transparency. IC Markets is regulated by ASIC in Australia and CySEC in Cyprus, two authorities known for strict capital adequacy and client fund segregation rules.

UOB Kay Hian, meanwhile, holds licences from the Monetary Authority of Singapore (MAS) and the Securities and Futures Commission (SFC) in Hong Kong, both highly regarded within the Asia-Pacific region.

Neither broker charges deposit or withdrawal fees, which is a positive sign of transparent cost structures on both sides. Ultimately, the choice between these regulatory environments may come down to your regional trading preferences and comfort level.

Fees & Spreads

On paper, both brokers advertise spreads starting from 0 pips, but the underlying commission models tell a more nuanced story. IC Markets charges approximately $3.5 per lot, a competitive rate for forex and CFD traders operating at scale.

UOB Kay Hian's commission comes in noticeably lower at $0.18 per lot, which may appeal to high-frequency stock and ETF investors focused on cost efficiency.

However, IC Markets' fee structure is built around a wider range of tradable instruments, whereas UOB Kay Hian's lower fees apply mainly within its narrower stock and ETF focus. Neither broker imposes deposit or withdrawal charges, keeping account funding straightforward.

Trading Platforms & Tools

IC Markets offers a significantly broader platform ecosystem, supporting MetaTrader 4, MetaTrader 5, TradingView, and a proprietary mobile app. This gives traders flexibility to choose between industry-standard charting tools and modern web-based analysis.

UOB Kay Hian's platform lineup is more streamlined, centered around its proprietary web platform, mobile app, and the UTRADE system. While functional for stock and ETF trading, it lacks the third-party integrations favored by advanced forex traders.

For traders who rely on algorithmic strategies or custom indicators, IC Markets' MT4/MT5 compatibility is a clear advantage. UOB Kay Hian's UTRADE system is better suited to straightforward equity investing rather than complex multi-asset strategies.

Leverage & Risk Management

IC Markets offers leverage of up to 1:500 for eligible clients, providing significant flexibility for traders looking to maximize position sizes with smaller capital outlays. This level of leverage, however, requires disciplined risk management.

UOB Kay Hian takes a far more conservative approach, capping leverage at 1:5. This lower ceiling reduces potential losses but also limits the scale of exposure available to more aggressive traders.

Your risk tolerance and trading experience should heavily influence which leverage profile suits you best. Beginners may appreciate UOB Kay Hian's built-in risk containment, while experienced traders may prefer IC Markets' flexibility.

Account Accessibility & Minimum Deposit

UOB Kay Hian has a distinct edge for cost-conscious beginners, requiring no minimum deposit at all to open an account. This removes a common barrier to entry for first-time investors testing the waters.

IC Markets requires a $200 minimum deposit, which, while still modest by industry standards, positions it as slightly less accessible for absolute beginners.

Traders with limited starting capital may find UOB Kay Hian's zero-deposit policy more appealing, while those ready to commit modest capital upfront will find IC Markets' offering well justified by its broader feature set.

Our Verdict

IC Markets is our recommended pick in this comparison, scoring 3.9/5 versus UOB Kay Hian's 3.3/5 on our independent rating system. Both brokers carry equivalent tier-1 regulation, so safety is not a deciding factor between them.

Traders with smaller budgets may find UOB Kay Hian's $0 minimum deposit more accessible, and it remains a solid option for beginners starting with limited initial capital.

For the majority of traders, however, IC Markets offers a stronger overall package thanks to its tighter spreads, higher leverage ceiling, and significantly broader platform and market selection.

Verdict summary

The bottom line — category winners and our final pick based on ratings.

Editor's verdict

IC Markets wins overall

IC Markets edges out UOB Kay Hian overall based on our expert rating score.

Highest Rated

IC Markets

3.9 / 5 / 5

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Category winners

Overall winner
Based on overall expert rating (3.9/5).
IC Markets
Better for beginners
Stronger onboarding and educational resources.
UOB Kay Hian
Lower trading costs
More competitive spreads and baseline commissions.
IC Markets
Stronger regulation
Higher trust based on tier-1 regulatory oversight.
IC Markets

Frequently asked questions

Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.