ICM Capital Review
Account type Min. deposit Minimum trade size Maximum leverage Average Spreads Type of execution Swap-free
ICM Direct $200 0,01 1:500 Variable, 1.3 pips on EUR/USD Market No
ICM Standard $200 0,01 1:500 Fixed, 1.6 pips on EUR/USD Instant Yes
The two account types (basic) provided by ICM Capital are ICM Standard and ICM Direct. The Standard account is comprises fixed spreads together with instant execution, meanwhile variable spreads, no requotes and unlimited strategies for trade (market execution).
Both standard and direct account types have micro lots for trade, despite the fact that only the ICM standard offer the swap-free service (Islamic), a Sharia-compliant which is often suitable for Islamic clients.
ICM Capital additionally provides MAM (Multi Account Manager) accounts for managers of money and customers in search of professionals to handle their fund management.
The Company. Security of Funds
ICM Capital is a broker in the UK which offers FOREX trading and CFD Oil (WTI & Brent) Contracts, Indices, Gold, and Silver, making use of MetaTrader 4 (placed amongst the world’s most renowned platforms for trade).
ICM Capital is an ICM CAPITAL Ltd brand (a wholly owned subsidiary of ICM Holding SARL based in Luxemburg).
The Financial Conduct Authority (FCA) authorized and regulates ICM Capital Ltd, meaning it is regarded as having high standards of security and transparency. License acquisition from the FCA warrant brokerages based in the UK to hold at least €730 000 net tangible assets as proof of their financial stability for legitimate operation. All companies regulated by the FCA are required to respect the stringent procedures and regulations set by this financial watchdog in the UK: client money must be kept separate from the funds of the company in segregated accounts; regular reporting to FCA must be carried out.
Moreover, additional guarantees are made to clients by FCA regulation, because they are subjects of the Financial Services Compensation Scheme (FSCS) with the maximum cover of compensation being £50,000 per person in situations where a broker becomes bankrupt.
Initial Minimum Deposit
The ICM Capital required minimum initial deposit is $200, which is generally an average figure in the forex market. $50 is required by HY Markets and $500 by FxPro.
Spread & Commission Averages
In the portfolio of the broker, there are both floating and fixed spreads accounts. The typical variable spread quoted by the ICM Capital is 1.3 pips on EUR/USD, an average figure in the forex market. Comparatively, an average spread of 1.4 pips on the EUR/USD is offered by FxPro for its MT4 accounts which are commission-free. If you are in need of more information, take a look at 15 leading brokers’ real-time spreads here.
This broker’s fixed spreads are very much competitive on the other hand, summing up to 1.6 pips on EUR/USD. No commission fees and charged by the broker as its compensation is gotten via the price spread. Plus500 comparatively provides 2 pips on EUR/USD fixed spreads.
The maximum leverage provided by ICM Capital to its clients is 1:500, which is a comparatively high ratio. Similar leverage levels are generally provided by brokers unless they have a regulatory cap. For instance, HY Markets offer a ratio of 1:300 as maximum leverage, and FxPro – up to 1:500. Here, we can find more forex brokers who offer leverage greater than or equal to 1:500.
Be well informed that trading on high leverage level margins can so easily drain your wallet of funds. Though Leverage may bring about exponentially multiplied profits, it can have similar effects on your losses.
Although ICM Capital presents just a single platform for trade, it is the MetaTrader 4 (MT4) platform with the most trustworthiness and popularity. This option offers choices between sub-options like desktop MetaTrader4, Mac, Android and iPhone/iPad. There is also an available web based platform.
Preferred by a majority of experienced traders because of its one-click trading, outstanding charting package, automated options of trade with Expert Advisors (EAs) and an extensive environment for back-testing, MetaTrader 4 is the standard trading platform in this industry. The platform is additionally very user-friendly as it is so easy even for novice traders to use. Click here and view other o see other brokers making use of this trading platform.
ICM Direct is also offered to Institutional clients – the in house Electronic Communications Networks (ECN) platform of the broker.
This broker currently offers 10% credit bonus with up to 1,000 USD possibly available on every single deposit greater than 2,000 USD.
The bonus is restricted only for trading purposes until the trading of a clearly specified lots amount; from which point credit bonus can be converted into cash.
Deposits can be made by ICM Capital clients into their accounts through bank wire and debit/credit card (Visa, MasterCard, and American Express), e-wallets Neteller & Skrill + ICM Capital Prepaid MasterCard®.
USD, EUR, and GBP are the accepted currencies.
ICM Capital is a sufficiently regulated CFD and forex having a Market Maker/STP model. Always keep in that the spread of ICM Capital is kept a bit high.