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ICM Capital Now Offering 40-Pips Spreads on Gold

Feb 28 2013
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Two weeks ago, we reported that UK Forex broker ICM Capital has an attractive new promotion allowing traders to make real money off their demo accounts. Well, now the company has a new offer, this time for clients trading in precious metals: starting today, spreads on Gold will become as tight as 40 pips.
 
This move seems to be completely in keeping with the broker's previous actions to tighten spreads. Last year, it reduced its offers for the major currency pairs – EURUSD to 1.6 pips, GBPUSD to 2.7 pips, USDCHF to 2.8 pips and USDJPY to 1.9 pips. It seems only logical to continue with precious metals now. Not to mention the fact that, generally, in the Gold trade a spread of 50 pips is considered a pretty good deal, so 40 pips should be quite the trader-magnet. 
 
“We always look for new ways to improve our clients trading experience and to create unique opportunities for them to achieve their trading goals. We will take every opportunity to tighten our spreads further in the future; we go the extra mile for our traders,” says Tyler Bui, CEO of ICM Capital. With all this care and pampering, it sure sounds like there is no reason why ICM Capital clients shouldn't be the happiest (and richest) people in the world, doesn't it?
 
Well, not quite. While this all sounds just peachy, I am not at all convinced ICM Capital's offer is precisely the best deal out there. Although it's true that a spread of 40 pips looks good enough, I can't ignore the fact that, just a week ago, US broker FXDD cut its XAU/USD spreads down to 20 pips. And it's not the only one, either – Forex.com's offer is 35 pips, and OANDA's is 25 pips. So, even though what ICM Capital is now providing is relatively low, I would definitely not go as far as to say this is the best possible deal you can get.  
 
 

About ICM Capital

 
ICM Capital is a UK-based online trading company, authorised and regulated by the Financial Services Authority (FSA). The company has headquarters in The City of London, an administration office in Dubai and a subsidiary in Singapore. ICM Capital offers trading in foreign exchange (Forex) and CFD Contracts on Oil (WTI & Brent), Indices, Silver and Gold, using one of the most renowned retail trading platforms in the world, Meta Trader 4 (MT4).
 
TAGS: icm capital  gold  spread  gold spread 

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