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ICM Capital Review
ICM Capital is a broker of forex trading services. They provide traders with access to a wide range of assets in a number of markets, such as currencies, indexes, and stocks. They provide a variety of energy, metals, and agricultural commodities to derivative traders.
Pros
- Segregates client funds
- Established in 2009
- Regulated by Financial Conduct Authority
- Min. deposit from $200
Cons
- Doesn’t allow scalping (See alternatives)
- Limited range of instruments
- Not ASIC Regulated (See alternatives)
A minimum deposit of $200 is required to create a live account. Alternatively, ICM Capital provides a demo account that you may use to experiment and become acquainted with their platform.
Regulated by the Financial Conduct Authority in the United Kingdom (FRN: 520965), ICM Capital places all customer funds in separate bank accounts with tier-1 institutions. ICM Capital has been in business since 2009, and has a head office in the UK.
Before we get into some of the finer specifics of ICM Capital’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are ICM Capital’s spreads & fees?
ICM Capital, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an asset.
The commissions and spreads shown here are based on the ICM Capital website’s minimum spreads.
| Forex | ICM Capital | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 0 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 0.2 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 0.1 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 0.1 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 0.2 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 0.1 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 0.2 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 0.1 pips | 0.5 pips | 0.1 pips |
Spreads are dynamic and are for informational purposes only.
As you can see, ICM Capital’s minimum spread for trading EUR/USD is 0 pips – which is relatively low compared to the average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ICM Capital vs. similar brokers.
How much does ICM Capital charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with ICM Capital at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $7.86. Here’s a rough breakdown of the fees and how this compares against IG & XTB .
| ICM Capital | IG | XTB | |
| Spread from: | $ 0.00 | $ 6.00 | $ 2.00 |
| Commission: | $7.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 7.00 | $ 6.00 | $ 2.00 |
| $1 less | $5 less | ||
| VISIT ICM CAPITAL | VISIT IG | VISIT XTB |
All fees/prices are for informational purposes and are subject to change.
What can you trade with ICM Capital?
ICM Capital provides over 100 various trading products, including over 30currency pairings. We’ve summarised all of the different types of instruments offered by ICM Capital below, along with IG and XTB instruments for comparison.
| FX / Currencies | ICM Capital | IG | XTB |
| # of forex pairs offered | 34 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | No | Yes | Yes |
| Commodity CFDs | ICM Capital | IG | XTB |
| # of commodities offered | 4 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Index & Stock CFDs | ICM Capital | IG | XTB |
| # of stocks offered | 89 | 8000 | 1606 |
| UK shares | No | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | No | Yes | Yes |
| Japanese shares | No | Yes | Yes |
| SEE ICM CAPITAL’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the ICM Capital trading experience like?
1) Platforms and apps
ICM Capital provides the well-known MT4 forex trading software. See our MT4 broker comparison for a list of the best MT4 brokers. They also provide their own ICM Direct platform. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
They also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
Still not sure?
Open a practice account & learn to trade
2) Executing Trades
ICM Capital allows you to conduct a 0.01 Lot deal. This may differ based on the type of account you establish. The maximum trading requirements differ according to the trader and the instrument. Because ICM Capital provides ECN and STP execution, you may anticipate incredibly narrow spreads and more transparency over the price you pay to execute your trades.
ICM Capital, as a market maker, may have lower entrance criteria than an ECN broker, who benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
As an added plus, ICM Capital is one of the few brokers who claim no requotes, so you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve listed some of the popular funding methods that ICM Capital offers its traders below.
Trading Features:
- Allows hedging
- Offers STP
- Low min deposit
Accounts offered:
- Demo account
- Mini account
- Standard account
- ECN account
- Managed account
- Islamic account
Funding methods:
- Credit cards
- Bank Transfer
- Neteller
3) Client support
ICM Capital supports a wide range of languages including English, Arabic, Chinese, and Spanish.
4) What you’ll need to open an account with ICM Capital
Because ICM Capital is regulated by the Financial Conduct Authority, every new customer must go through a few simple compliance checks to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to explore their platform immediately, keep in mind that you will not be allowed to execute any trades until you pass compliance, which can take several days, depending on your situation.
To start the process of opening an account with ICM Capital you can visit their website here.
79% of retail investor accounts lose money when trading CFDs with this provider.
