ICM Capital Forex Broker
ICM Capital forex broker, founded in 2009, functions as a branch of ICM CAPITAL Ltd. This entity is entirely possessed by ICM Holding SARL, located in Luxemburg. Operating as a Forex broker, ICM Capital extends trading facilities and a platform for trading diverse financial resources. Concentrating on performance, the company targets providing a dependable and proficient trading experience for its customers.
Pros
- High leverage
- Multiple tradable assets
- Multilingual customer support
Cons
- Only for professional traders
- Lack of trading platforms
- High minimum deposit
ICM Capital Review Summary
To sum up, ICM Capital is a trustworthy forex broker that offers from major to exotic pairs of tradable assets. The company is regulated by the Financial Conduct Authority (FCA) and protects its clients. This forex broker encrypts their data, keeps their funds separate from its own, and participates in the Financial Services Compensation Scheme.
Only one trading platform is available on ICM. It is the MetaTrader 4 platform. On the one hand, it is easy to use; on the other hand, it is pretty outdated. Traders can choose from two different types of accounts.
If anything goes wrong, customers can count on good support from the broker, which also uses the latest technology to keep them safe online. It seems like ICM Capital is a reliable place for people to trade forex but it refers only to advanced traders. This platform is not the best option for beginners.
ICM Capital key characteristics
- Only one trading platform is available
- Customer service support in over 16 languages
- Availability of Professional client account (with clear requirements)
- Issues its own Mastercard plastic card
- No available bonuses
Supported Countries
ICM Capital is based in the UK but serves traders from all over the world. They welcome traders from many countries, including Australia, Thailand, Canada, UK, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, UAE, Saudi Arabia, Kuwait , Luxembourg and Qatar. We can see from this list of places that ICM Capital tries to help people from all over the world. Nevertheless we should admit that ICM capital forex broker is not available in most European countries such as Austria, Portugal, Romania, Sweden, Germany, etc.
ICM Capital trading platforms
The forex broker ICM Capital offers support for the popular MetaTrader 4 (MT4) platform, which is known for being easy to use and trustworthy. ICM capital offers MetaTrader 4 for desktop, for iPhone/iPad and for Android devices. One of the best features of MT4 is how good its charts are. You can trade with just one click on this platform, too. The broker also gives a guide which describes how to download the MetaTrader 4 platform, how to open and close a position, how to place orders, and the various charting tools available on MT4.
However, we should admit that most trading brokers provide more than 1 trading platform giving an opportunity to choose from. This is obviously a disadvantage of ICM Capital.
ICM Capital Trading Account Types
ICM Capital provides traders with two primary account types: ICM Direct and ICM Standard, each tailored to meet specific trading preferences.
Let’s see how they differ and what they have in common:
| Index | ICM Direct | ICM Zero |
| Base Account currency | USD, EUR, GBP or SGD | USD, EUR, GBP or SGD |
| Leverage level | 1:200 | 1:200 |
| Trading instruments | Forex, Metals, Futures , Shares, and Cash CFDs | Forex, Metals, Futures , Shares, and Cash CFDs |
| Minimum deposit | 200$ | 200$ |
| Spread | Depends on the asset | 0 |
| Commission | No | 7$/round lot |
As we see, the main difference between ICM Direct and ICM Zero is that ICM Direct has no commissions, while ICM Zero charges $7 per trade, but has tighter spreads. When it comes to trading instruments – you can trade the same things with both accounts and use the same amount of leverage.
Both account types come with Expert Advisors for automated trading, a full news feed, charts and analysis tools. They both have the basic features ordinary traders need to make bets on popular financial markets.
It was also nice to see that there is an opportunity to get an Islamic account. You just need to contact the customer support team to have them set it up for you.
The most important thing to know about these accounts is that you can use an ICM Capital professional trading account. Here are the conditions for getting one:
- You must have carried out significantly large transactions, on the relevant market, at an average frequency of 10 per quarter over the previous four quarters;
- The size of your financial instrument portfolio, including cash deposits and financial assets, must exceed 500,000 EUR;
- You currently work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
Tradable Assets on ICM Capital
ICM Capital is unique in that it lets users trade more than 65 different assets, making it a multi-asset platform on the market. Traders can use ICM Capital to dabble in forex trading, spread bets, and share dealing since its various offerings fall under these categories.
- Forex Trading: ICM Capital provides a variety of currency pairs to trade, such as Major Pairs, Minor Pairs and Exotic Pairs.
- Spread Betting: Spread betting is offered by ICM Capital wherein traders can place bets on various financial markets such as indices, commodities and currency pairs.
- Share Dealing: Traders on ICM Capital can participate in the equity markets by trading shares of stocks listed on different stock exchanges.
- Metals: ICM gives an opportunity to trade spot silver or gold with no minimum
- Futures: ICM Capital let customers trade with futures on global indices such as Dow Jones, Nasdaq and S&P 500
- Cash CFDs: you can trade cash CFDs on a range of assets indices including Brent oil, crude oil and UK 100
Deposits
Clients of ICM Capital forex trading broker have multiple options for funding their accounts, ensuring flexibility and convenience. The table below outlines the available deposit methods, accepted currencies, and notable features:
| Deposit Method | Accepted Currencies | Processing Time | Fees | Additional Information |
| Bank Wire Transfer | USD, EUR, GBP | 2-5 business days | May be charged by the bank | Clients can initiate wire transfers for secure and direct deposits. |
| Debit/Credit Card (Visa, Amex, MC) | USD, EUR, GBP | Instant | Possible card fees may apply | Swift and immediate deposits using major debit/credit card options. |
| E-wallets (Skrill & Neteller) | USD, EUR, GBP | Instant | Fees may apply | Convenient e-wallet solutions offering instant deposit processing. |
| ICM Capital Prepaid MasterCard® | USD, EUR, GBP | Instant | Fees may apply | Provides a prepaid card option for quick and accessible fund access. |
When making a decision about a deposit option, it is important to consider the time it will take for the money to be processed and if there are any fees that come along with it. Plus, since this platform accepts USD, EUR, and GBP, people who trade in these regions have even more options. As any other broker the slowest speed of execution refers to Bank wire transfer, so be ready for it.
Withdrawals
ICM Capital forex broker makes it easy for its clients to take out their money, offering several options for withdrawal. See the table below for a summary of the withdrawal methods ICM Capital supports, as well as the currencies you can use with each, how long transfers take, any fees that apply, and other notes:
| Withdrawal Method | Supported Currencies | Processing Time | Fees | Additional Information |
| Bank Wire Transfer | USD, EUR, GBP | 2-5 business days | May be charged by the bank | Secure withdrawals via direct bank transfer. |
| Debit/Credit Card Refund | USD, EUR, GBP | 3-5 business days | Possible card fees may apply | Refund option available for card deposits. |
| E-wallets (Skrill & Neteller) | USD, EUR, GBP | 1-2 business days | Fees may apply | Swift withdrawals through popular e-wallet solutions. |
ICM Capital trading education and training
ICM Capital online forex broker doesn’t provide any educational resources for traders. It gives us bare minimum with a guide on MT4. However, there is a little research and market analysis information. As we claimed before, the platform is constructed more for people who already have some trading experience.
ICM Capital License and Regulatory Compliance
Being regulated and authorized by the Financial Conduct Authority (FCA) ICM Capital Ltd. follows some of the strictest security and transparency rules in the industry. One of these rules states that the company must always have at least €730,000 in net assets. This rule helps show that the broker is stable enough to protect traders’ investments.
The FCA also makes sure that companies like this follow its rules. For example, the broker keeps money separately and sends regular reports to the FCA. ICM Capital also participates in the Financial Services Compensation Scheme (FSCS). The FSCS will pay back up to £50,000 per person if the broker goes out of business and their money’s gone.
Customer Support
Traders who need help while using ICM Capital can get all the support they need from the company. To get quick answers to questions or fix problems, traders should be able to use email, Whatsapp, live chat or phone. The customer support is presented with two branches: Client Services Support and Technical Support. These branches have different working hours and they consider different kinds of questions.
Client Services Support works only 5 days per week from 6 am to 6 pm which is quite weak in comparison to other brokers. Technical Support is available 24/5 and it helps traders to overcome technical difficulties whilst trading.
ICM Capital has an average rating of 2,7 stars out of five on Trustpilot. A total of 18 people left reviews on the website. This score shows that most people who reviewed the company are not satisfied with it. Most people point out problems with withdrawal, others praise the customer support. However, it’s worth pointing out that not very many people have given their opinion online.
How to open a ICM Capital account
- Visit the ICM Capital official website.
- Click on the “ICM Access” button at the top panel.
- Click “Don’t have an account” button
- Then fill all the gaps with your personal details and click the “Finish” button.
- Open a live account by providing personal details.
- Provide information about your trading experience.
- Fill in your financial details.
- Complete the account verification process by providing necessary documents.
- Agree to the terms and conditions.
- Fund your account using the available deposit methods.
FAQ
Does ICM Capital accept US clients?
No, ICM Capital forex broker does not accept clients from the United States.
How much does it cost to open a demo account?
It’s free to open a demo account on ICM Capital.
Are swap free accounts available?
Yes. Capital offers Swap Free/ Islamic Accounts to clients following the Muslim faith. You need to contact the client services team to get access.
Is ICM Capital A Legitimate Broker?
ICM is a broker that is controlled by the FCA. The broker has been around for ten years, with many claims that it’s a legitimate broker.
Is customer support available only in English?
No, ICM has multilingual customer service support which works in 16 languages.