ICM Capital review and ratings

Established 2011
Location UK
Regulation FCA
Offices London
Broker type STP
Leverage up to 1:30
Deposit from 200 USD
Spreads mid  mid
Platforms Web MetaTrader 4 FIX API (protocol)
Instruments Currencies Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller

Company information

ICM Capital is a forex broker located in the UK, regulated by the Financial Conduct Authority (FCA).

Be aware, the company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.


ICM Capital accepts clients from all over the world, excluding USA and some countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

35+ Currency Pairs Based on major and minor world currencies.
9 Indice Cash CFDs Based on baskets of different blue-chip stocks.
6 Indice Futures Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
2 Energy Spot CFDs Based on Crude Oil (WTI, Brent).
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
40+ Stock CFDs Based on shares of US companies.

Comprehensive review

ICM Capital is a UK-registered forex and CFD brokerage company that has been active in the industry since 2011. Being based in the UK, the broker is regulated by the very reputable Financial Conduct Authority (FCA), which in turn is overseen by the European Securities and Markets Authority (ESMA).

The instruments offered by ICM Capital includes close to 40 forex pairs, a handful of stock index CFDs, precious metals, energy commodities, and single stock CFDs of American companies. The broker previously also offered bitcoin CFDs for trading, but this has been removed from their product range as of this writing.

As a consequence of the strict European regulations, trading leverage with ICM Capital is limited to 1:30 for the most liquid trading assets such as major forex pairs, 1:20 for minor forex pairs and gold, 1:10 for other commodities, and 1:5 for stocks.

Once a new user has signed up with the broker, he will get the chance to choose between depositing money in either the ICM Direct account or the ICM Zero account, denominated in USD, EUR, GBP, or SGD.

The main difference between these account types is that only the ICM Direct account is similar to a classic forex trading account, while the ICM Zero account more closely resembles an ECN (electronic communications network) account with tight spreads but commissions of USD 7 for each lot traded round-turn. However, the commission-free ICM Direct account does offer trading in stocks and cash CFDs, which are not available on the ICM Zero account.

As usual, the commission-free account type is probably the best option for most smaller traders, while the ECN-type of account is the better option for larger and semi-professional traders thanks to the tighter spreads.

With ICM Capital, trading accounts can only be funded with a very limited number of payment methods. At the time of this review, the funding methods available are bank wire transfer, Visa & MasterCard, China UnionPay, Skrill, and Neteller. In addition, ICM Capital offers its own MasterCard prepaid debit card which can be used to deposit and withdraw funds from the trading account.

It is worth noting that the broker charges a service fee for accepting deposits made with all of these payment methods except for bank transfers above USD 500, which is processed free of charge.

In terms of trading platforms, ICM Capital is a traditional retail forex broker which has focused exclusively on the popular MetaTrader 4 (MT4). This platform is available in its standard versions for Windows computers, in addition to versions for Apple and Android mobile devices. For Mac users, a workaround for using MT4 on Mac is also available.

ICM Capital’s customer service is available via email as well as UK and Dubai-registered phone numbers. In the UK, regular client support is open from 6 AM to 6 PM London time, Monday to Friday. Technical support, however, is open 24 hours a day on all trading days.

All in all, we are of the opinion that ICM Capital is a decent forex & CFD broker for most ordinary traders, particularly for European traders who prefer to trade with a broker regulated within the EU. The broker does not offer a huge selection of trading assets by any means, but is generally a solid choice that can be trusted to deliver on its obligations to clients.

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