ICM Capital Review 2022

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
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🏆 Broker Evaluation
🗺️ Regulatory Bodies FCA
💳 Minimum Deposit 500$
⚖️ Islamic Account yes
💰 Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
🏢 Main Branch United Kingdom
☎ Customer Service 24/5
🎮 Demo account not
🖥 Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Key Takeaways

Icm Capital
Broker Evaluation
Year of Establishment
Main Branch
United Kingdom
Other Branches
United Arab Emirates
Supported Languages
English, Spanish, Chinese, Russian, Arabic, Iranian
Operating Hours
Market Opening Hours

Overall Summary

ICM Capital Limited, a broker based in London, operates as a wholly-owned subsidiary of ICM Holding SARL (Luxembourg). Further, support and operation offices have been established in Dubai and Shanghai, among other major cities. Established in 2009, ICM Capital is a global trading platform operating in 194 countries, including those in Europe, Asia, Oceania, and Africa. Major countries that ICM Capital covers include the UK, Germany, Australia, South Africa, Thailand and China. Estimates put the total number of current ICM Capital users at more than 10,000.
Main features of this broker consist of a wide product variety: OTC Spot FOREX (with more than 60 currency pairs, according to data collected by Arincen), OTC Precious Metals, OTC US Stocks, OTC Energy Futures, OTC Index Futures, Cash CFDs etc.
Meanwhile, markets are accessible via several account offerings with tight spreads (Electronic Communication Network (ECN) Spreads starting from zero pips), speedy no-requotes market execution with live Trading Central reports, deep liquidity provided by a tier-1 bank and more. As a testament to its global reach and top-notch services, various international awards juries have recognized ICM Capital as a leading institution within the UK, as well in the MENA region and beyond.

Is ICM Safe?

Because the regulatory standing of any broker is crucial to its trustworthiness, ICM Capital is focused on compliance with the laws governing its activities in the different jurisdictions. ICM Capital is regulated and authorized by the FCA in the UK, which means it is a transparent and secure firm. To obtain a license from this authority, UK-based brokers must hold at least $730,000 net in tangible assets to ensure they are financially viable.
All FCA-licensed firms must adhere to strict procedures and rules set by the UK industry watchdog. Among other things, ICM should keep clients’ money in separate accounts from the company’s own funds, and report these to the FCA regularly. Further, FCA regulation provides extra cover to the traders because it falls under the Financial Services Compensation Scheme (FSCS), whereby clients are entitled to a compensation of up to £85,000 if ICM becomes insolvent. To exceed this, ICM enhanced its security offering with additional protection of up to £1,000,000, backed by substantial global capital and available to all live account clients at no additional cost.
Any payments funneled to ICM Capital accounts by traders are held in segregated bank accounts. For added security, ICM Capital uses tier-1 banks for this (tier-1 is the official measure of a bank’s financial health, strength and prudence).
ICM Capital offers three principal ways to trade: FOREX trading, spread betting and share dealing. With ICM Capital, you will need a minimum deposit of $200. While you can register for a demo account to familiarize yourself with the ICM Capital platform, ICM Capital is also able to accommodate various levels of traders in live accounts, whether they are experienced or beginners.


  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Established in 2009
  • More than 10,000 ICM Capital users and traders.
  • Reasonable minimum deposit from $200.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.


  • Does not allow scalping.
  • Not ASIC-regulated.
  • Relatively limited range of instruments.
  • Slow live-chat service.
  • Relatively high trading fees.
  • Limited range of trading tools and resources
Trading Account Information
Account Currency
Minimum Deposit
Segregated Accounts
Payment Methods
Bank transfer - credit card - Electronic Banks - Crypto
Accepting US Clients
Available Markets
currency pairs-metals-energies-stocks-indices
Demo Account Duration
30 Days

Offering of Investments

Although ICM Capital crucially targets institutional traders, it has not completely ruled out the possibility of catering to retail traders as well. As noted earlier, its accounts start with a $200 minimum deposit, which is a bit high when you consider the modern-day industry norms, but it is still reasonable. This deposit will give you access to the following accounts:
1.       ICM Standard Account
The Standard Account is provided for people living outside of mainland China and Europe. Inter alia, this account provides trades access to shares, commodities, futures and FOREX trading and is a Straight Through Processing (STP) account. For Standard Accounts, the spreads range from one to four pips, and traders can swap freely. However, you might face the risk of a re-quote, thus possibly hindering your trading experience.
2.       ICM Direct Account
The Direct Account is provided for all traders, no matter where they live (except for the US, of course). Just like the Standard Account, the Direct Account provides access to futures, commodities, shares and FOREX trading and is a dedicated ECN account. The spreads still range from one to four pips, but clients will enjoy tighter spreads when they trade on the ECN platform. 
Although customers won’t face any re-quote when they swap, they will need to produce the swap cost. One of the benefits of this account is that there is no commission charged when a trader opens it using the ECN platform.
3.       Demo Account
There is also a demo account for traders to open and learn the basics of trading.
In addition to the three accounts outlined, ICM Capital offers Islamic accounts to clients following Shariah Banking. FOREX Islamic accounts are also known as swap-free accounts, as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
ICM Capital allows executing a minimum trade of 0.01 per Lot. This may vary depending on the account type you open. The maximum trade requirements differ, based on the trader and the instrument. Because ICM Capital offers ECN and STP execution, you can expect very tight spreads with more transparency over the price you are paying to execute your trades.
As a “Market Maker,” ICM Capital may have lower entry requirements compared to an ECN broker, which, in turn, benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades 
As an extra bonus, ICM Capital is one of a very few brokers claiming to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price than that which you executed). As with most brokers, margin requirements vary depending on the trader, accounts and instruments.
As a UK-based regulated broker, ICM Capital follows strict guidelines set by the European Securities and Markets Authority (ESMA). Accordingly, a recent development saw the European industry watchdog set a new limitation on the maximum leverage brokers can offer to traders. Thus, clients of ICM Capital may use leverage up to 1:30 for FOREX products, 1:5 for CFDs, and 1:10 for commodities.
With ICM Capital regulated by the UK’s FCA, every new client must go through basic compliance checks to ensure that they understand the risks of trading, and that they are actually allowed to trade in the first place. Thus, when you open an account with ICM, you will likely be asked for the following, so it is good to have these details and/or documents handy:
  1. A scanned color copy of your passport, driver’s license or national ID.
  2. A utility bill or bank statement from the past three months, showing your address.
  3. You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to allow at least 10 minutes or so to complete the account-opening process.
Though you might be able to explore ICM Capital’s platform directly, it is important to note that you won’t be able to make any trades until you fully pass compliance. This could take up to several days, depending on your status.

Deposits and Withdrawals

Advantages of Trading
Maximum Leverage
1 : 500
Minimum Lot Size
Available FOREX Pairs
67 Currency Pairs
Starting from 0.3 pips
Trailing Stop
Islamic Account
Trading Platforms
MT4 - MT5 - C TRADER -Web Platform
Regulatory Bodies
Broker Type

Customer Support

ICM Capital supports a wide range of languages, including English, Chinese, Arabic and Spanish, just to name a few. The multilingual support, provided via telephone, email and/or live chat, is suitable for beginners as well as advanced traders. The service is highly regarded by ICM’s clients.

Commissions and Fees

ICM Capital principally offers a variable spread of 1.3 pips on USD/EUR, which is ideal for the FOREX market. On the other side, the fixed spreads provided by ICM Capital are highly competitive, reaching 1.6 pips on USD/EUR. It is noteworthy that the firm does not charge commission because it pays itself via the price spread.
ICM Capital withdrawal fees vary based on your selected withdrawal payment method. The broker, for example, allows you to withdraw your funds to Neteller, e-wallets, credit cards, debit cards and bank transfers.
In the meantime, ICM Capital does charge a fee for inactive accounts, with all account inactivity fees charged to the registered brokerage client. Brokers may have certain trading activity requirements that, under the terms and conditions of the accounts, clients would have to fulfill. If a client’s trading account dues do not have any buying and selling over a period of time, as dictated by the broker, an inactivity fee may be due.

Platforms and Tools

ICM Capital clients can enjoy the widely popular MT4, which is the industry-leading platform and is preferred by traders because of its impressive charting package, automated trade options with a professional advisor, extensive back-testing environment and one-click trading.
The ICM Capital trading platform – powered by MT4 – allows traders to track their portfolios, focus on current market trends, locate trade ideas, and place trades. The ICM Capital platform also enables traders to filter the financial marketplace for trade opportunities that match a certain criterion.

Mobile Trading

The MT4 mobile app enables users to trade securely from anywhere and at any time. Not only does the mobile app offer many of the same capabilities as the desktop version, as well as full control over trading accounts, but traders also enjoy the benefits of such mobile-friendly features as one-touch trading and push notifications.

Research and Development

To assist in the fast-growing retail FOREX market, an all-inclusive education center designed for traders at all levels is also provided. Further, the broker holds various contests and championship competitions to encourage traders to improve their skills while winning valuable prizes.
ICM Capital uses Trading Central’s technical analysis package for its product offering and provides it free of charge for live account holders. Trading Central is a global benchmark for feeding daily market reports and covering technical analysis for FOREX, precious metals and oil. A daily look at market news (from reputable sources), up-to-date stats about available currency pairs, an economic calendar, up-to-date stats about available currency pairs, and a weekly Webinar are also offered. However, on the downside, the company does not offer the all-important Autochartist research tool.

Final Thoughts on ICM

If seeking a reputable company that has over 13 years of experience in FOREX and CFD trading, then ICM Capital might be just for you.
The firm has proven over the past decade and a half to be a great brokerage company and has even won multiple awards for its outstanding work. It is licensed by one of the best regulators in the world, the UK’s FCA, meaning that you do not need to worry about the safety of your funds when trading with ICM Capital.


ICM Capital is an international online FOREX and CFD trading firm offering a diverse range of trading products through the choice of the powerful renowned platforms MT4 and its access among various devices. ICM trading technology demonstrates great trade execution and allows all trading styles. At the same time, for the benefit of its clients, the company offers a smart-spreads calculator through ECN deep liquidity providers, starting from zero pips.

ICM in Brief

ICM Capital is considered an industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Further, the company offers its customers a credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks. It offers low spreads, as well as the ability to use MT4.

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:
Companies’ Websites.
  1. Other Websites that have ranked FOREX companies.
  2. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. 
    We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.  
Afterward we validated the data by:
  1. Registering with FOREX companies as a secret shopper and/or as Arincen.
  2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.
    The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%.

The home page of the ICM forex trading website
Trading platforms available through ICM
Licenses obtained by ICM


Where is ICM Capital regulated?

ICM Capital is regulated and authorized by the UK’s FCA.

In what other ways does ICM Capital protect me?

ICM keeps client money in separate accounts from the company’s own funds. Furthermore, under the terms of the FSCS, clients are entitled to compensation of up to £85,000 if ICM becomes insolvent. The broker has also enhanced its security offering with additional protection of up to £1,000,000, backed by substantial global capital, and available to all live account clients at no additional cost.

Which countries does ICM Capital serve?

ICM Capital operates in 194 countries. However, it does not accept traders from the US.

Does ICM Capital offer Cryptocurrency trading?

This broker does not offer cryptocurrency trading.

Does ICM Capital provide any extra offerings?

At the time of writing, the broker offered a “Credit to Cash” promotion on the MT4 platform that gave deposits a 10% bonus on any new deposits over $1,000. However, it was not available to clients of ICM Capital Limited UK or ICM Europe.

How do I fund my account?

ICM Capital offers several ways to transfer funds. Traders can use bank transfers, card payments, as well as a range of e-wallets, such as Neteller, Skrill and China UnionPay.

Which trading platforms does ICM Capital offer?

Clients of ICM Capital can enjoy the widely popular MT4, which carries an impressive array of features.

How can I access customer service?

ICM Capital’s multilingual customer support is provided via telephone, email and/or live chat.

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