ICM Capital Review

Note that this is just a demo account and you will need to move to a live account in the near future. For Standard Account, the spreads ranges from 1 to 4 pips and the traders can SWAP freely; however, you might face a re-quote that will hinder your trading experience. Hence, if you are from or live in the US, you will need to look for other brokers that are licensed by the NFA and the CFTC. All other traders can easily open a demo or live account with ICM Capital Brokers. ICM Capital is a forex broker offering the MetaTrader 4 and MT4 Mobile foreign exchange trading top platforms.

We reached out to the broker’s customer support team to resolve the challenges we faced. From time to time ICM Capital Brokers provides attractive promotions to welcome new clients and say “thank you” to members. For instance, it provides a 10% credit bonus to a maximum of $1,000 on every new deposit made of over $2,000. Additionally, FCA regulation provides an extra cover to the traders since it falls under windsor brokers review the FSCS where clients are entitled to a $50,000 compensation in case a broker becomes bankrupt. ICM Capital Brokers is a trading firm that offers CFD and FOREX contracts on Bitcoin, Oil , precious metals, and Indices using the renowned MetaTrader4 platform. Just like we mentioned, it was established in 2009 and is a brand of the reputable ICM Capital Ltd, a subsidiary of Luxemburg-located ICM Holding SARL.

Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country. The cTrader platform has diverse technical analysis and the ability to run cTrader forex robots, while also ensuring the ongoing protection of your data at all times. For Forex, ICM Capital applies all-in spreads for ICM Direct, while it offers zero spreads for ICM Zero, but they charge a trade commission instead.

The broker also runs different promotions, like adding 10% of credit bonus to those who deposit $2000. This promotion is not a standard promotion but time-limited tokenexus and is offered once in a while. ICM Capital’s customer service team was helpful and gave us detailed and accurate answers to our questions.

While it might be useful to a newbie trader, the education section lacks webinars, seminars and course plan. The content covered under the education is a glossary, a trading FAQ and an overview of what is forex. To be honest, that wouldn’t be adequate for serious traders who want to pursue trading.

Cost and Fees, Commissions and Spreads

ICM Capital offers two account types, ICM Zero and ICM Direct, depending on client’s country of residence and the regulations. The ICM Capital customer support team is multilingual and available from 6am to 6pm from Monday to Friday. ‘Request a call back’ form is available on the website if you to schedule a cmc forex call with a support representative. We received a fast response from the agent, saying that there are no charges for credit card deposits over 200 USD or equivalent in other currencies, which is also the minimum deposit. Neteller and PayPal, there are no charges for deposits over 500 USD or their equivalent.

The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

I have submitted the withdrawal request for one month, while ICM kept fending off with the excuse of risk-management by third party, asking for an extra custody fee. The broker also provides a trading glossary with definitions of key trading terms. Traders also have access to short market news pieces that summarise the price action of different assets. Credit/debit card deposits of $200 and above do not attract charges, which is the minimum amount you can deposit using this method.

The ICM Capital international website is regulated by the Financial Services Authority of the Grenadines and St Vincent. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. This broker did not score well during our testing process and is not recommended by our experts. We strongly suggest choosing a broker that has gained a high score through excelling in all departments instead. To learn more about how we test and recommend brokers, read our methodology.

Types of ICM Capital Trading Platforms

MetaTrader4 is a highly professional platform that not only allows you to actively trade, it also has powerful technical analysis, charting, and modeling tools. Such a bonus is but a way to compensate traders for choosing a certain broker since once the account is opened, the trader will have the same expenses as any other. A recent update from the European regulator set a limitation towards maximum offered leverage levels, as ESMA recognized a potential risk in case extremely high leverage is used.

Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty. The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades. ICM’s trading technology demonstrates great trade execution and allows all trading styles. For the client’s benefit, the company offers smart spreads calculation through ECN deep liquidity providers starting from 0 pips. ICM Capital uses market execution with liquidity accumulated via major Tier 1 global banks.

Employee Review

We have sent the company an email asking for clarification but have so far failed to hear back from them. If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker.

Although ICM Capital offers it services to traders all over the world, the broker does not accept traders from the US. Therefore, if you are a US resident, you will have to search for other US brokers that are regulated by the CFTC and the NFA. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money.

ICM Capital offers very tight spreads along with low margin requirements. The cTrader platform is popular for its diverse technical analysis and the ability to run forex robots to ensure the continuous protection of client data and money. ICM Capital is a London-based Forex broker that has its representative offices in Dubai, China, and Mauritius.

Author of this review

Eventually, a recent updates from the European regulator set a limitation towards maximum offered leverage levels, as ESMA recognized a potential risk in case very high leverage is used. It is vital to have a clear understanding of the platform’s trading tools and financial markets on the whole to trade efficiently with any brokerage firm. Traders must ensure to make full use of all the available education tools available with ICM Capital and from external sources as well. Similar to other brokers, ICM forex broker also has margin requirements that vary based on the trade size or the lot size and leverage. ICM margin requirement is calculating the trade size or lot size divided by the leverage.

ICM Capital is licensed by 5 global regulators, including the top-tier UK Financial Conduct Authority , Cyprus Securities and Exchange Commission , and Malaysia’s Labuan Financial Services Authority . Finally, we withdrew our funds to determine whether the withdrawal process was smooth. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations.

In addition, ICM Capital offers Islamic accounts to clients following the Muslim faith. Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith. The broker uses market execution while liquidity accumulated via major Tier 1 global banks. The broker also caters to those who want to practice their trading techniques, by providing an option of opening a risk free Demo Account.

Types of Accounts and Their Features

The company doesn’t provide its traders with a VPS service, signals or any other add-on service. ICM Capital, a UK headquartered FCA regulated online Forex, commodity and CFD trading firm offering 24 hour access to a diverse range of trading products including currencies, gold, silver, oil and US stocks. ICM Capital provides three trading platforms, MetaTrader4 MT4, Meta Trader 5 MT5 and Web Trader cTrader Platform. Traders can choose from sub-platforms like MT4 for Mac, desktop, Android, and iPad/iPhone. Spreads are the difference between the bid and ask price for a currency pair or financial instrument. ICM Capital provides competitive, variable spreads adapted to your initial deposit.

These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges. Being a multi-award-winning forex trading platform, its industry achievements are worth mentioning. ICM is an online forex brokerage company that was established in 2009. Its parent company, ICM Holdings SARL, is based in Luxembourg, though ICM is located at 35 New Broad St, London, United Kingdom. ICM Capital serves customers who are in Europe as well as traders outside Europe except traders residing in Belgium, US and other restricted countries as per its terms. It is accessible in 6 different languages and offers a wide range of tools for easy navigation on the site.

My money has been returned Service use: LiveLength of use: 0

In tune with the fund protection regulations of UK FCA, ICM ensures that all the funds deposited by the clients are kept in segregated bank accounts. This means that the company will not be using any client funds for any purpose. Note that there is a minimum deposit requirement of $200 to enjoy these leverage benefits.

All of the platforms can be accessed through a single login, and traders can choose either the ICM Standard or the ICM Direct accounts at the time of signup. Traders can also open a MAM account to open and manage multiple accounts, which is supported by the MT4 platform. This broker joined the Forex scene in 2009 and is relatively new comparing to the good old 90s brokers. Even if brand new brokers have to deal with prejudices, in the beginning, some of them manage to be taken seriously in their short time of existence. As required, the broker had to register with UK’s official regulator and so far, things are looking good. This means that the broker follows the strict rules of the FCA and meets its obligations on time.

Trading Platforms

It provides them with direct market access, besides deep liquidity from the leading liquidity providers and Tier 1 banks. The firm concentrates on offering services to all kinds of clients, especially rich clients from the Middle East and North Africa. Though the firm accepts clients from every country across the globe, US clients are not allowed to trade at ICM Capital. The spreads could even fluctuate further when volatile news is released and the broker advises for account closure to avoid slippage. It has to be said that the spreads information is not clear on the website and is not even listed on the accounts page.

We found the MetaTrader 4 platform to be best suited to all types of traders including manual traders and those who use automated strategies. Clients can access the platform via desktop, Mac and mobile applications. MarketsInstrumentsForex34Indices17Stocks93Commodities5Cryptocurrencies0The broker offers a decent number of tradable instruments but is way below industry leaders who offer thousands of products.