ICM Capital

Editor's Score
  • Regulated by FCA
  • Supports mobile trading
  • Free educational materials
  • Advanced trading platform
  • High minimum deposit requirement
  • High spreads
Min Deposit
Max Leverage
Mini Account
  • cTrader
  • MT4
Withdrawal Options
  • Cards
  • Bank Transfer
  • Neteller
  • Skrill
  • China Union Pay
  • ICM Prepaid Card



ICM is an online forex brokerage company that was established in 2009. Its parent company, ICM Holdings SARL, is based in Luxembourg, though ICM is located at 35 New Broad St, London, United Kingdom. ICM Capital serves customers who are in Europe as well as traders outside Europe except traders residing in Belgium, US and other restricted countries as per its terms. The company website is simple, easy to use yet comprehensive. It is accessible in 6 different languages and offers a wide range of tools for easy navigation on the site.

Trading Conditions

Much of the trading conditions that ICM capital offers is influenced by the terms of its license with FCA. The license stipulates that the broker offer a maximum leverage of 1:30 for UK and European traders. The license is also against any bonuses. However, the company has met these shortfalls by providing its customers with a robust platform with fast execution speeds and low latency and a website with fast load speeds.

ICM capital has two account types; ICM Direct and ICM Pro Account. The ICM pro is customized for professional clients since its leverage is 1:200. The account best suits experienced traders or traders with a high capital since there is a capital insurance of £1,000,000 which is way above the £50,000 covered under the license. Both of these accounts are affected by news and ICM capital advises traders to close orders prior volatile news releases.


ICM Capital offers its traders with a wide range of trading instruments. Traders can choose from the following assets; FX pairs, metals, Stocks, indices, commodities, and cryptocurrencies. There are 34 FX pairs, 2 precious metals Gold and Silver, 39 shares, 3 energy commodities; Light Sweet Crude Oil, Natural Gas, and Brent Crude, 5 indices, and 1 cryptocurrency which is Bitcoin.


ICM capital holds a license from the financial conduct Authority under license number 520965. The company license was acquired in 2009 and it’s the sole regulator of its business. The license oversees its business operation on all of Europe and other countries in which the broker operates.


ICM capital offers the regular MT4, a trading platform common amongst many brokers. The platform is downloadable for free and has tons of charting tools and indicators. The platform has 37 different languages, different chart layouts, and other interactive features to make trading easy. The MT4 is available as a desktop client version and the web trader. Traders seeking for a superior trading experience can use the cTrader which gives room for greater market access and more room for automation. While the MT4 could be considered friendly for both novice traders and experienced traders, the cTrader would best suit experienced traders. All these platforms are compatible with Mac computers and PC.

Mobile Trading

ICM Capital has a MetaTrader 4 application that is compatible with Android and iOS-powered smartphones, and tablets including iPod Touch and iPads. The broker’s mobile trading platform gives clients the freedom to trade conveniently from any remote location and at any time. You can access and analyze trading information on the go as well as trade in financial markets from your handheld device with a single click. All you need to do is to download the company’s free MT4 Android and iOS apps to start enjoying their remarkable mobile trading experience.


ICM Capital is an ECN broker, meaning no dealing desk, as such spreads are relatively low and even start at 0 pips. The company have two account types: one is the ICM direct, the other is ICM pro. The difference is that ICM pro gives tighter spreads on the FX products, you can view the comparison on the following link https://www.icmcapital.co.uk/accounts/products/spot-foreign/ According to a recent press release from the company clients can now trade EUR/USD from as low as 1.6 pips and GBP/USD from just 2.7 pips. The spread on USD/CHF has also been reduced to 2.8 pips along with USD/JPY to 1.9 pips.

The spreads could even fluctuate further when volatile news is released and the broker advises for account closure to avoid slippage. It has to be said that the spreads information is not clear on the website and is not even listed on the accounts page. We have sent the company an email asking for clarification but have so far failed to hear back from them. This does not bode well..

Deposits & Withdrawals

The broker offers several payment options to facilitate convenient withdrawals and deposits to your trading account. You can fund your ICM Capital trading account via Visa, MasterCard, Bank Transfer, Neteller, Skrill, China Union Pay, or ICM Prepaid Card and you have to withdraw using the same deposit method. Supported currencies include USD, GBP, EUR, KWD, AED, MUR, JOD, SAR, SGD, and PLN. The minimum deposit amount across all payment options is $200 while the maximum limit is $10,000 for a single transaction.

The processing fees for both deposits and withdrawals depend on your banking option. For example, ICM Prepaid Card deposits attract a charge of 1.75% and a fixed withdrawal fee of $1.95. For China Union Pay users, the deposit processing fee is 1.50% of the amount while the facilitation fee for withdrawals is $5. However, the broker covers all transaction costs for Visa and MasterCard transfers. It is also important to note that ICM Capital Limited has a waiver policy on deposits and withdrawals which varies by payment method.

When it comes to turnaround times, the company has a robust payment processing system to enable fast deposits and withdrawals. It takes a maximum of 24 hours for deposited funds to appear in your ICM Access account. For withdrawals, the broker processes your request within the same business day but sometimes it may take up to 3 to 5 working days for the funds to arrive in your bank account.

Customer Support

ICM Capital Limited claim to have a very professional and friendly customer service team to ensure that their clients have the most rewarding trading experience. They say their representatives are available 24 hours a day throughout the week, and you can make inquiries in a variety of languages including English, Arabic, Mandarin Chinese, German, Spanish, and Portuguese. Meanwhile 24 hours later we are still waiting for someone to return our email. After a while we gave up and tried asking our question regarding spreads and account types through live chat. We were answered after a few minutes.

Meanwhile clients can reach out via live chat or they can email their queries to [email protected] or [email protected]. They also offer phone support via +44 207 634 9770 or +971 4 429 4500 for UAE residents. Alternatively, you can click on the drop-down menu located on the top-right corner of the broker’s website, click on MAIL or CALL, fill in your contact information in the online form provided, and the company’s representatives will give you a call. This broker’s support system is that it is available for both account holders and prospective clients.

Research & Education

ICM Capital has an education section which looks average. While it might be useful to a newbie trader, the education section lacks webinars, seminars and course plan. The content covered under the education is a glossary, a trading FAQ and an overview of what is forex. The materials are free to view for any website visitor. To be honest, that wouldn’t be adequate for serious traders who want to pursue trading.

Noteworthy Points

ICM Capital is a broker that has done all it takes to keep itself afloat though its services seem to be rather average. The company doesn’t provide its traders with a VPS service, signals or any other add-on service.

The broker sponsors both Fulham FC and England polo team and on the internet, there are several advertisements to promote its business. The broker isn’t blacklisted even though it has a lukewarm reception on the market and traders are indifferent about ICM Capital services. The company has not won any award as per their website information.


ICM Capital could be well described as an average broker. It would be misleading to place it among the top forex brokers due to the following reasons, high spreads, limited account types, no add-on service, slow customer service response among others. The company seems to settle for average, yet it can push for more customers once it changes some aspects about its business. Their nice Pro account package which could be considered VIP could be watered down by the level of service it offers. Alternatively, this broker would be best suited for newbies who don’t require exemplary services. Despite all that, the broker has a clean name with its regulators and hasn’t breached any terms of service.


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