ICM Capital review
Min. Deposit: 200 US$
Found in: 2009
ICM Capital Licenses
- ICM Capital Limited - authorized by FCA (UK) registration no. 520965
Min. Deposit: 200 US$
Found in: 2009
ICM Capital Licenses
ICM Capital Limited is a London based broker, operates as a wholly owned subsidiary of ICM Holding SARL (Luxembourg). Additionally, support and operation offices have been established in Dubai and Shanghai.
The key features of the broker consist of wide product variety – OTC Spot Foreign Exchange, OTC Precious Metals, OTC US Stocks, OTC Energy Futures, OTC Index Futures, Cash CFDs. Markets are accessible through one account offering with tight spreads (ECN Spreads starting from 0 pips), deep liquidity provided by the Tier-1 Bank, speedy no-requotes market execution with live Trading Central reports, and more.
The support is provided by the company in multiple languages, via telephone, email and live chat is suitable for the beginner and the advanced traders and is an award-winning Customer Support service as well highly regarded by the clients. Furthermore, to assist in the fast growing retail Forex market, an all-inclusive education center designed for traders at all levels.
Various international awards, have recognized the ICM Capital as a leading institution within the UK, as well in MENA regions and others.
As the regulatory status of the Broker actually is a key to its trustworthiness, ICM Capital Limited is focused on compliance with the law and ensures its status by the regulation. The ICM Capital is authorized and regulated by the Financial Conduct Authority (FCA), which regulates the financial services industry in the United Kingdom, with the aim to protect consumers and ensure the industry remains stable.
Being one of the most reputable and sharp authorities within the Financial industry, FCA status delivers security of funds provided to the clients under the Financial Services Compensation Scheme (FSCS) covering up to £50,000 in the event ICM Capital becomes insolvent. To go above, ICM enhanced this with additional protection up to £1,000,000 backed by substantial global capital and available to all live account clients with no additional cost.
ICM Capital’s trading platforms have been selected according to importance within the industry offering and the most balanced trading parameters like speed, reliability and security. For that reason, clients of ICM Capital mainstays at popular MetaTrader4.
It is a fact that MetaTrader 4 is a highly professional platform that not only allows you to actively trade, it also has powerful technical analysis, charting and modeling tools. Also, all clients can benefit from auto trading by the use of Expert advisor in the terminal. Those programs are written in MetaQuotes Language 4 and allowing to analyze and trade in the automatic mode. MT4 is suited for all devices, the trader can access the trading environment by PC, Mac, mobile or tablet.
Withal, ICM Capital has chosen Trading Central’s technical analysis package for their product offering and provided free of charge for live account holders. Trading Central is a global benchmark provides daily market reports and covering technical analysis for Forex, Precious Metals and Oil.
ICM Capital release only one account type named – ICM Direct. The broker uses market execution while liquidity accumulated via major Tier 1 global banks.
The Brokers keep the spreads for all markets consistently lower among the offering, as historical data show that spread for EUR/USD during peak house averages at 1.3 pips.
Comparison of typical spreads you can see below, as well see and compare ICM Capital fees with its peer XM.com.
|Asset/ Pair||ICM Capital Fee Terms|
|Crude Oil WTI||4|
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.
Therefore, in a standard account feature, you should count on the rollover rates in case you hold a long position. For instance, the EURUSD long buying position will impose -7.86$ while selling will gain 2.68$ per lot.
The broker also caters to those who want to practice their trading techniques, by providing an option of opening a risk free Demo Account.
Being a UK based regulated broker ICM Capital follows strict guidelines set by the European authority ESMA. 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. Therefore, clients of ICM Capital may use leverage up to 1:30 for Forex products, 1:5 for CFDs and 1:10 for Commodities.
ICM Capital offers several ways to transfer funds for the clients’ convenience. The deposited money will be active in clients’ accounts within 24 hours, while traders can use bank transfer, card payments and range of e-wallets Neteller, Skrill, China UnionPay, etc.
Moreover, the ICM has launched a solution for easy funding – the own ICM Capital Mastercard (the card issued by Wirecard Card Solutions Ltd), that enables to transfer of funds of any trading profits from the client’s trading account easily. Clients can submit an online application for card issuance with one-time payment fee of 40$.
The withdrawal or deposit fee varies according to the payment method you choose. Yet, broker covers the transfer fees for deposits above 500$ in case of Bank transfers, while other methods fees vary, see the specification table below. Visa or Mastercard (will include a fee of 1.75% above), which are taxable by fees also. However, for the withdrawals company covers fee expenses for Visa and Neteller options.
The minimum deposit amount that will allow start trading is set to a 200$, which is an additional pleasant feature for various traders, which allows to start from an initially small amount.
ICM Capital as an international online Forex and CFD trading firm offering a diverse range of trading products, through the choice of powerful renewed platforms MetaTrader 4 and its access through various devices. In fact, ICM trading technology demonstrates great trade execution and allow all trading styles. For the Clients benefit, the company offers smart spreads calculation through ECN deep liquidity providers starting from 0 pips.
Alternative broker with much better trading condition and with FCA license is FXTM.
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