|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.
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.
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.
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.
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.
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.
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.
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:
|Strong regulation||MM on ICM Standard account|
|MT4 available||No choice of trading platforms|
|No commission fees||Mediocre spreads|
|High leverage levels|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|
|Belize||IFSC||MT4, Web||$500||Review Website|