ICM Capital ICM Capital Review

ICM Capital Review - an MT4 forex broker, based in UK
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Trading Accounts

 

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

 

ICM Capital provides two basic account types: ICM Direct and ICM Standard. The Standard account offers fixed spreads and instant execution, while the Direct one provides variable spreads with no requotes and no limits on trading strategies (market execution).


Micro lots are available for trade on both account types and besides, swap-free (Islamic) service is provided on the ICM Standard account, which is Sharia-compliant and suitable for clients of Islamic belief.


Moreover, ICM Capital offers MAM (Multi Account Manager) accounts for money managers and clients looking for professionals to manage their funds.


The Company. Security of Funds


ICM Capital is a UK broker, offering trading in FOREX and CFD Contracts on Oil (WTI & Brent), Indices, Silver and Gold using one of the most renowned retail trading platforms in the world, MetaTrader 4.


Founded in 2009, ICM Capital is a brand of ICM CAPITAL Ltd., a wholly owned subsidiary of Luxemburg-based ICM Holding SARL.


ICM Capital Ltd. is authorised and regulated by the Financial Conduct Authority (FCA), which means it is held to high security and transparency standards. To acquire a license from the FCA, UK-based brokerages must hold a minimum of €730 000 net tangible assets in order to prove their financial stability and to operate legitimately. All FCA-regulated companies are required to observe the stringent rules and procedures set by the UK financial watchdog: they must keep all client money separated from the company`s own funds into segregated accounts; they must regularly report to FCA.


What is more, FCA regulation involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme (FSCS), where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent.


Trading Conditions


Minimum Initial Deposit

The minimum initial deposit, required by ICM Capital is $200, which is average for the forex market. In comparison, HY Markets require $50, and FxPro - $500.


Average Spreads & Commissions
There are trading accounts with both fixed and floating spreads in the broker’s product portfolio. ICM Capital quotes as typical a variable spread of 1.3 pips on EUR/USD, which is average for the forex market. For purposes of comparison, FxPro offers average spread of 1.4 pips on the EUR/USD for its commission-free MT4 accounts. If you need further information, you may look up real-time spreads of 15 leading brokers here.


The fixed spreads offered by this broker, on the other hand, are quite competitive, amounting to 1.6 pips on EUR/USD. The broker charges no commission fees, as it gets its compensation through the price spread. In comparison, Plus500 provides fixed spreads of 2 pips on EUR/USD.


Maximum Leverage

ICM Capital provides its clients with maximum leverage of 1:500, a relatively high ratio, still most brokers provide similar leverage levels, unless there is a regulatory cap. HY Markets, for instance, offers a maximum leverage ratio of 1:300, and FxPro - up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


Please, be advised that trading on margin with high leverage levels may burn a hole in your pocket. Leverage may multiply your profits exponentially, but it can do the same to your losses.


Trading Platform


ICM Capital offers a single trading platform, but it is the ever-popular and trustworthy MetaTrader 4 (MT 4) platform. Within this option, one can choose from further sub-options like MetaTrader4 for desktop, Mac, iPhone/iPad and Android. A web based platform is also available.


MetaTrader 4, is the industry’s standard trading platform and the preferred choice of most experienced traders due to its outstanding charting package, one-click trading, automated trade options with Expert Advisor (EAs) and extensive back-testing environment. Moreover, the platform is user-friendly and even novice traders can easily find their way around it. Click here to see other brokers that use this trading platform.


Institutional clients are also offered ICM Direct – the broker’s in house Electronic Communications Networks (ECN) platform.


Promotions
Currently, this broker offers 10% credit bonus up to 1,000 USD available on each new deposit above 2,000 USD.
It is for trading purposes only until set amount of lots have been traded; after which credit bonus can be turned into cash.


Methods of Payment


Clients of ICM Capital can make deposits to their accounts via bank wire and debit/credit card (Visa, American Express and MasterCard), e-wallets Skrill & Neteller + ICM Capital Prepaid MasterCard®.


The accepted currencies are USD, EUR, GBP.


Conclusion


ICM Capital is a well-regulated forex & CFD broker with a Market Maker/STP model. The one thing you should keep in mind is ICM Capital keeps its spread a bit high. To sum up the above, here are the advantages and disadvantages with regards to this broker:

 

Pros  Cons
Strong regulation  MM on ICM Standard account 
MT4 available No choice of trading platforms
No commission fees  Mediocre spreads
High leverage levels  

 

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Price feed

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