ICM Capital is a Forex and CFD broker based in London. Multi-regulated broker that was established in 2009 and committed to ensuring high standards were maintained, and regulation was strictly applied, which became the key factor of the fast growth of the broker.
Over the past ten years, ICM has opened more than 14 offices in Europe, the Middle East, Africa, Asia and Latin America.
ICM holds many awards for their efficient performance and fast growth steps they’re talking, including the global business magazine awards for the fastest-growing global multi-asset broker and more .
The broker has representative offices in Dubai and China. The company behind this broker is ICM Capital Limited. ICM Capital Limited is a wholly-owned subsidiary of ICM Holding SARL, registered address: 121, Avenue De La Faïencerie, L-1511 Luxembourg.
In this ICM Capital review, you will be able to have all the answers to these questions. Is ICM Capital a scam or a reliable forex broker? What are the account types of ICM? What are the trading conditions such as spreads, leverage, and minimum deposit? Is ICM Capital regulated?
I reviewed ICM Capital based on the following criteria.
- Regulated by FCA
- MT4 supported
- No commission fees
- Payment methods are limited
- No choice of trading platforms
- Account types are limited
Regulation of ICM Capital
Regulation of ICM Capital
The most critical issue about forex brokers is their regulations. In a huge liquid market like the forex and CFDs market, there are a large number of brokers lacking regulation. Fortunately, ICM Capital isn’t one of them.
ICM doesn’t only hold one or two licenses, but multiple numbers of licenses by major regulators from almost every corner of the world which not only proves the reliability and trustworthiness given to the broker by multiple financial regulators but also shows the level of work ethic the broker is following to keep up with the regulations and terms forced by the watchdogs to obtain and maintain the regulations.
These licenses are as follows:
- ICM Capital Limited (UK) is regulated and authorised by Financial Conduct Authority (FCA) registration number: 520965.
- ICM Capital Limited (MU) is regulated and authorised by the Financial Services Commission of Mauritius under license number: C118023357.
- ICM Capital (Labuan) Limited is regulated and authorised by the Financial Services Authority of Labuan under license number: MB/18/0029.
- ICM House AG (Zurich, Switzerland) is licensed under the supervision of ARIF registration number CHE-497.911.976
- ICM House KB is registered and regulated under the laws of Sweden under the supervision of the Stockholm County Administrative Board with registration number: 969792-7961. SWIFT/BIC: ICHOSES2.
- ICM LLC (Qatar) is regulated and authorised by the Qatar Financial Centre of Qatar under license number: 00908.
- ICM Capital LLC (VC) is registered by the Financial Services Authority of Saint Vincent and the Grenadines under number: 1853 LLC 2022.
The FCA regulates the financial services industry in the United Kingdom, with the aim to protect consumers, ensure the industry remains stable and promotes healthy competition between financial services providers.
ICM Capital is solely regulated by the FCA in respect of its conduct and prudential obligations. The FCA is responsible for making the rules and regulations which govern the Financial Services Industry in the UK. Firms providing financial services in the UK are authorized and regulated by the FCA.
Most of the watchdogs force a rule of having to separate the funds of the clients away from the funds of the broker itself used for operational purposes and if that term isn’t covered the financial regulator would automatically refuse the request of the broker. But in the case of ICM, it’s guaranteed given that the clients’ funds are segregated due to obtaining regulations like FCA, FSC Mauritius and FSA.
To go above and beyond expectations ICM Capital has enhanced this to offer additional protection of up to £1,000,000 in the event that ICM Capital becomes insolvent.
Account Types and Spreads
Account Types and Spreads
ICM Capital has 2 account types to offer their traders in which each account types provide different characteristics and terms of trading other than the other.
The first account type offered is ICM Direct ( ECN) where a maximum leverage of 1:200 is offered with base currencies to the account of USD, EUR, GBP or SGD. There is no commission added to this type of account and you can start opening positions with a minimum traded a lot of micro lot.
Whereas the 2nd account type offered is the ICM Zero account where the same amount of leverage is offered at 1:200. The spreads here can reach 0.0 pips yet a commission is added of $7 per round.
Both account types can be traded on the MT4 trading platform which is provided with EA which means expert advisors which allow the platform to analyse and trade in automatic mode on behalf of the client.
In addition, both accounts have the option to provide a swap-free Islamic account for clients with the Islamic faith. The broker also provides the chance to have a free demo account opened this type of account benefits both newbies and expert trades since it provides a risk-free area for trials and errors. This is exactly what forex newbies need to test out their knowledge and what trading expert needs to try out new trading strategies and methodologies.
ICM Capital Trading Platforms
ICM Capital provides its clients with the best trading platforms in the market that are the most popular and most demanded which are MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader. ICM Capital’s online trading platforms are reliable, fast, and easy to use.
The broker offers its traders the opportunity to benefit from rapid execution and professional trading conditions in an environment of fairness and transparency.
MetaTrader 4 is still the most widespread trading platform. The MT4 has great features such as Expert Advisors (EAs) capability, advanced chart tools, and various technical analyses. Algorithmic trading, Multilingual platform interface, Inbuilt program language MetaQuotes Language 4 and more are reasons that made the platform user-friendly to traders. It is available for both iOS and Android platforms.
The trading platform can be downloaded from this ICM Capital website securely to your PC. There is also a web terminal option for the platform.
The MetaTrader 4 Web Trader terminal allows you to trade via any operating system (Windows, Mac, and Linux) and from any web browser. No download or installation is required meaning you can access your account and start trading in just a couple of clicks.
MT5 meets the requirements of providing successful trading on financial markets as it represents a reliable and multi-functional trading platform. It also offers a wide range of exciting new features which are available to all desktop PC users. MT5 features include ‘Economic Calendar’, ‘Market News’ and ‘Depth of the Market’, Multiple order types and aggregation of open positions, 21 timeframes, Algorithmic trading and automated trading and more.
cTrader will allow you to obtain access to fast, tight prices when trading forex, as well as products based on futures contracts such as gold, silver, oil, commodities and indices. With features like Competitive spreads and low commissions, Depth of Market (Level II) pricing, Multiple order types, Detachable charts, Real-time reports and more cTrader is considered to be an innovative trading platform designed for the 21st century.
ICM Trading Instruments
ICM Capital provides different kinds and types of trading instruments as the brokers make sure their traders are having different varieties of tools to trade in they provide a great advantage for the traders since the concept of risk dispersal and trading account variation take place which both contributes to safer and profitable investments.
These Tools include:
Forex: with more than 60+ currency pairs offered for trade including forex majors, minors, crosses and exotics, trading forex with ICM can allow trades to make profits from the potential of falling or raising of the markets. A s well as the high leverage the broker offers takes part in making higher profits for traders. Commission-free trades make it preferable for clients to trade how much they wish to and however they see fit to their trading strategy. High levels of liquidity plus the option to trade 24 hrs make it quite an experience for forex investors.
Precious Metals: investing in over-the-counter precious metals allows the traders to benefit from going long or short positions ( in other words when the prices move up or move down) without paying for ownership of the precious metal itself. Spot Gold and spot Silver are the best examples of these metals where trades are commission free as well as no expiry date for these metals in addition to the option of hedging other investments.
US Stocks: major US stocks are available to trade with ICM that includes Apple, Google, Pfizer Inc and more. Trading Stocks involve buying and selling the shares of publicly-traded companies from around the world. Stocks represent the financial instruments that allow traders to invest and take advantage of prices moving up (going long) or down (going short) without having to pay for ownership of the stock itself.
Indices: with fast execution and efficient use of capital, high leverage and the ability to go long or short position, with the chance to trade from PC and mobile phones plus hedging other investments in your trading portfolio, Indices represent the perfect tool to be added to your trading account since you can also trade major indices of the world including Dow Jones, E-mini NASDAQ, FTSE 100, DAX and more.
Energy Futures: Brent Crude Oil, Gasoil Future, Light Sweet Crude Oil (WTI), and E-Mini Natural Gas Henry Hub Future are examples of the energy CFDs that can be traded with the broker which allows you to speculate on the movement of a specific energy futures contract, without the need to operate through the central exchange market.
ICM Securities: this is a platform that will give access to several stock markets around the world with assorted sectors. You can invest in a range of companies in the United States, Europe, and Arab countries, gaining your shareholder’s rights, such as earning dividends. ADX – Abu Dhabi Exchange, DIFX – NASDAQ Dubai, DSM – Qatar Exchange, GBLSEI – London Stock Exchange – International, NYSE – New York Stock Exchange, NSDQOT – OTC Markets and more are examples of the markets you can enter and trade stocks in.
Cryptocurrency: trading cryptos allows you access to low latency execution, and low spreads, using an ICM Direct account or ICM Zero account with a margin requirement of 50%. You can trade major cryptocurrencies like Bitcoin, Ethereum, Litecoin and more are available for trade with ICM Capital.
ICM Payment Methods
ICM Capital provides you with easy, fast and multiple methods for deposit and withdrawal. Deposits via bank wire transfer, debit/credit cards (Visa, or MasterCard), e-wallets like Skrill & Neteller, and cryptocurrency deposits like bitcoin and Finrax. In addition to ICM Capital Prepaid MasterCard®.
The broker has partnered with MasterCard meaning you are now able to enjoy the benefits of MasterCard® and its international payment network in over 200 countries worldwide.
When using the ICM Capital Prepaid MasterCard card you can select for your Card to be issued in any of the following currencies USD, EUR, or GBP.
ICM Capital is a very trusted and regulated broker as we’ve seen throughout this ICM Capital review as the broker not only holds one license but multiple regulations from major watchdogs in the forex markets including 7 regulations (FCA, FSA, ARIF, FSC, Labuan FSA, QFC and CABs).
An award-winning broker with extremely efficient client support that’s working 24/5 to help and assist clients everywhere in the world.
The broker offers competitive trading conditions. With 2 account types offered and maximum leverage of 1:200 and a minimum deposit of $200. Competitive spreads can reach as low as 0.0 pips. Different trading instruments are offered with attractive features and trading conditions.
Funding and withdrawals can take place through different channels whether that is bank wire transfers or even cryptocurrencies, all means are fast and easy to take place. In addition to the exclusive ICM Mastercard, that’s providing new and existing clients of the broker with the MasterCard advantages and more.
If you didn’t like this broker’s offers you can find a better broker on my top forex brokers list. You also can check out the pros and cons of this broker in the table below.