- ICM Capital Pros and Cons
- Is ICM Capital Safe or Scam?
- Trading Platform
- Deposits and Withdrawals
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about ICM Capital.
What is ICM Capital?
ICM Capital Broker is an international online Forex and CFD trading firm offering access to a diverse range of trading products including Forex and CFDs on Indices, Commodities, Cryptos, Futures, and more.
ICM Capital Limited is a London-based broker, that operates as a wholly-owned subsidiary of ICM Holding SARL (Luxembourg). Additionally, support and operation offices have been established in Dubai and Shanghai.
ICM Capital Pros and Cons
ICM Capital is considered a reliable broker with ECN trading technology and good technical solitons. The Spreads are low and average and there is a good education section, also offering is suitable for various size of traders and available almost all around the globe which is great advantage.
For the Cons, the trading instruments are limited to CFDs and OTC assets, and there is no 24/7 customer support.
|FCA licensed broker with a strong establishment||Conditions may vary according to regulation and entity|
|Globally recognized and awarded ||No 24/7 customer support|
|Competitive trading costs and spreads|
|MT4 trading platform|
|Quality customer support|
ICM Capital Review Summary in 10 Points
|🗺️ Regulation||FCA, FSC, FSA, ARIF, SCAB, QFC|
|📉 Instruments||OTC Spot Foreign Exchange, OTC Precious Metals, OTC US Stocks, OTC Energy Futures, OTC Index Futures, Cash CFDs|
|💰 EUR/USD Spread||1.1 pips|
|🎮 Demo Account||Provided|
|💳 Minimum deposit||$200|
|💰 Base currencies||GBP, USD, EUR|
|📚 Education||All-inclusive education center designed for traders at all levels.|
|☎ Customer Support||24/5|
Overall ICM Capital Ranking
ICM Capitals is considered a good broker with safe and favorable trading conditions with transparency. The broker offers a range of trading services with competitive trading costs. As one of the good advantages, ICM Capital is available in many countries, so traders can sign in also with the lowest spreads.
- ICM Capital Overall Ranking is 9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Ranking||ICM Capital||Capital Index||ADS Securities|
|Advantages||High Liquidity||Trading Conditions||Trading Instruments|
ICM Capital Alternative Brokers
ICM Capital offers good trading conditions, a range of trading instruments, also low trading spreads, and fees. However, there are a number of other brokers that offer similar services. Here are some of the best alternatives to ICM Capital:
Various international awards have recognized ICM Capital as a leading institution within the UK, as well as MENA regions and others.
Is ICM Capital Safe or Scam?
No, ICM Capital is not a scam. The broker with its headquarter in London is authorized and regulated in the UK by FCA.
Is ICM Capital Regulated?
Yes, ICM Capital is a legit and regulated broker in various jurisdictions.
The broker is authorized and regulated by FCA as its main regulation, plus runs additional entities which are also regulated by local authorities. FCA, which regulates the financial services industry in the United Kingdom with the aim to protect consumers and ensure the industry remains stable, requires quite high standard of operation therefore ICM Capital is legit and safe Broker to trade.
Is ICM Capital legal in Malaysia?
ICM Capital does not have entity in Malaysia, however traders can open accounts under international branches and so to become ICM Capital Malaysia traders. Yet, we would advise to check on the conditions too before signing in since condiitons may vary.
See our conclusion on ICM Capital Reliability:
- Our Ranked ICM Capital Trust Score is 9.2 out of 10 for good reputation and service over the years, also for a reliable top-tier license. The only point is that regulatory standards and protection vary based on the entity.
|ICM Capital Strong Points||ICM Capital Weak Points|
|Regulated broker with a strong establishment||Regulatory standards and protection vary based on the entity|
|FCA license and overseeing|
|Negative balance protection|
How Are You Protected?
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. ICM enhanced this with the additional protection of up to £1,000,000 backed by substantial global capital and available to all live account clients with no additional cost.
Being a UK-based regulated broker ICM Capital follows strict guidelines set by the regulatory authority. Leverage levels fall under particular set of rules, alike UK and European regulators set a limitation towards maximum offered leverage levels, as ESMA recognizes a potential risk in case very high leverage is used.
- European traders are eligible to use low leverage up to 1:30 for Forex products, 1:5 for CFDs, and 1:10 for Commodities.
- While other non-European traders under international entity may apply for leverage up to 1:200 for ICM Direct and ICM Zero account types.
ICM Capital offers two account types: ICM Direct and ICM Zero accounts. The broker also caters to those who want to practice their trading techniques, by providing the option of opening a risk-free Demo account.
Does ICM Capital Offer Islamic Accounts?
Yes, 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.
|Fast account opening||Account types and proposals may vary according to jurisdiction|
|Low minimum deposit|
|Hedging and scalping allowed|
|Demo and Islamic accounts available|
|Account base currencies USD, EUR, GBP or SGD|
How to Open ICM Capital Live Account?
Opening an account with ICM Capital is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the “Create Account” page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by upload of documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.
ICM Capital trading instruments includes a range of various Markets available to its clients including Forex, Stocks, Commodities, Futures, CFDs etc.
What can you trade with ICM Capital?
ICM provides quite an extensive range of products including instruments traded via ECN since ICM is an ECN Broker but also depending on the instruments some might bee traded on OTC basis too, alike availability includes OTC Spot Foreign Exchange, OTC Precious Metals, OTC US Stocks, OTC Energy Futures, OTC Index Futures, Cash CFDs, and more.
- ICM Capital Markets Range Score is 8.9 out of 10 for wide trading instrument selection among Forex, Stocks, Indicies, Cryptos, and more. Yet, instruments range may depend on the entity of ICM Capital you trade with so is worth checking selection too
ICM Capital Fees
ICM Capital fee structure is simple as it is based on a spread. Also, always consider funding or inactivity fees.
In a standard account feature, you should count on the rollover rates if you hold a long position. For instance, the EUR USD long buying position will impose -$7.86 while selling will gain $2.68 per lot.
- ICM Capital Fees are ranked average, low with an overall rating of 8.5 out of 10 based on our testing and compared to over 500 other brokers.
|Fees||ICM Capital Fees||Capital Index Fees||Tickmill Fees|
|Fee ranking||Low, Average||Low, Average||Low|
The broker keeps the spreads for all markets consistently lower among the offering. Based on our finds the average spread for EUR USD is 1.1 pips.
- ICM Capital Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower, and spreads for other instruments are very attractive too.
|Asset/ Pair||ICM Capital Spread||Capital Index Spread||Tickmill Spread|
|EUR USD Spread||1.1 pips||1.1 pips||0.3 pips|
|Crude Oil WTI Spread||4||7||4|
|Gold Spread||45||0.5 ||20|
|BTC USD Spread||-||-||12|
Deposits and Withdrawals
ICM Capital offers several ways to transfer funds for the client’s convenience. The deposited money will be active in clients’ accounts within 24 hours, while traders can use bank transfers, card payments, and a range of e-wallets.
Moreover, ICM has a solution for easy funding: its own ICM Capital Mastercard (the card issued by Wirecard Card Solutions Ltd), which 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 a one-time payment fee of $40.
- ICM Capital Funding Methods we ranked good with an overall rating of 8.5 out of 10. The minimum deposit is among average in the industry, and fees are average or low also allowing to benefit from various account-based currencies.
Here are some good and negative points for ICM Capital funding methods found:
|ICM Capital Advantage||ICM Capital Disadvantage|
|$200 is a first deposit amount||Deposit and withdrawal fees might be charged|
|Fast digital deposits, including Credit/Debit Cards||Methods and fees vary in each entity|
|Multiple Account Base Currencies|
In terms of funding methods, ICM Capital offers a few payment methods which are a very good plus, yet check according to its regulation whether the method is available or not.
- Credit/Debit cards
- Bank wire
- PayPal, and more
What Is the Minimum Deposit for ICM Capital?
ICM Capital’s minimum deposit is $200, which is an additional pleasant feature for various traders, which allows starting from an initially small amount.
ICM Capital minimum deposit vs other brokers
||Most Other Brokers
ICM Capital Withdrawals
The withdrawal or deposit fee varies according to the payment method you choose. Yet, the 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) are taxable by fees too. However, for the withdrawals, the company covers fee expenses for Visa and Neteller options.
How Withdraw Money from ICM Capital Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
ICM Capital trading platforms mainstay at popular MetaTrader4. The brokers platform offers some of the most balanced trading parameters like speed, reliability, and security, also being the most used platform is another plus to the offering.
The platform enables the use of EAs that are monitoring markets for you and according to the settled rules trading on your behalf.
- ICM Capital Platform is ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers a popular MT4 professional trading platform.
Trading Platform Comparison to Other Brokers:
|Platforms||ICM Capital Platforms||Capital Index Platforms||Tickmill Platforms|
MT4 is a highly professional platform that not only allows you to actively trade, but also has powerful technical analysis, charting, and modeling tools. Also, all clients can benefit from auto trading with the use of an Expert advisor in the terminal.
Those programs are written in MetaQuotes Language 4 and allowing to analyze and trade in the automatic mode. ICM Capital MT4 is suited for all devices, the trader can access the trading environment by PC, Mac, mobile, or tablet.
- In addition, ICM Capital has chosen Trading Central’s technical analysis package for its product offering and provided it free of charge for live account holders. Trading Central is a global benchmark that provides daily market reports and covers technical analysis for Forex, Precious Metals, and Oil.
ICM Capital provides multilingual 24/5 customer support via phone lines, email, and live chat.
- Customer Support in ICM Capital is ranked good with an overall rating of 8.5 out of 10 based on our testing. We got fast and knowledgeable responses, also quite easy to reach during the working days.
See our find and ranking on Customer Service Quality:
|Quick responses||No 24/7 customer support|
|Availability of live chat, phone lines, and email|
ICM Capital Education
ICM Capital provides trading central which offers its clients webinars to further develop their Technical Analysis skills. Also offers an Economic Calendar, trading tools, and trading signals.
- ICM Capital Education ranked with an overall rating of 8.5 out of 10 based on our research. The broker provides good quality educational materials and research, and also cooperates with market-leading providers of data.
ICM Capital Review Conclusion
For final thoughts, ICM Capital is a reliable and trustworthy broker. As regulated by FCA, the broker maintains secure trading as well as upholds additional insurance of $1 million coverage. The account with the quite small deposit requirement of $200 should be considered by the beginning traders, as well platform’s extended features support in the beginning too.
ICM 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.
Based on Our findings and Financial Expert Opinions ICM Capital is Good for:
- Advanced traders
- Malaysia Traders and International Trading
- Professional trading
- Traders from Europe and UK
- Currency and CFD trading
- STP/OTC execution
- ECN trading
- EA trading
- Competitive trading fees and spread
- Tight spreads
- Global coverage
- Supportive customer support
- Trading central
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