ICM Capital Review ☑️ Safe or Scam Revealed (2024)
Overall, ICM Capital can be summarised as a trustworthy global internet trading broker with a well-established global presence. ICM Capital is committed to customer service and technical innovation. ICM Capital has a trust score of 90 out of 99.
ICM Capital Review – Analysis of Brokers’ Main Features
- ☑️ ICM Capital Overview
- ☑️ ICM Capital Detailed Summary
- ☑️ ICM Capital Safety and Security
- ☑️ ICM Capital Account Types
- ☑️ How To Open an ICM Capital Account
- ☑️ ICM Capital Trading Platforms and Software
- ☑️ ICM Capital Fees, Spreads, and, Commissions
- ☑️ ICM Capital Trading Instruments and Products
- ☑️ ICM Capital Leverage and Margin
- ☑️ ICM Capital Deposit and Withdrawal Options
- ☑️ ICM Capital Educational Resources
- ☑️ ICM Capital Pros and Cons
- ☑️ In Conclusion
ICM Capital Overview
ICM Capital, established in 2009, is a global internet trading broker with a global presence serving customers in Europe, Asia, the Middle East, Latin America, and Africa. The firm is regulated by the UK’s Financial Conduct Authority (FCA), ensuring a secure trading environment for customers.
ICM Capital is known for its commitment to customer service and technical innovation, investing in improving its trading platforms for a smooth experience across desktop and mobile devices.
The broker also offers educational tools and market research to help traders make informed decisions and improve their trading skills. ICM Capital offers competitive trading conditions, including narrow spreads, fast execution times, and access to various financial instruments.
Furthermore, its commitment to innovation and strict regulatory compliance make it a reliable partner for traders seeking a trustworthy partner in their financial journey.
Is ICM Capital regulated?
Yes, ICM Capital is regulated by respected institutions such as the Financial Conduct Authority (FCA) in the United Kingdom, which ensures a safe trading environment.
How long has ICM Capital been operating?
ICM Capital was founded in 2009 and has more than a decade of expertise in the financial markets.
ICM Capital Detailed Summary
ICM Capital Safety and Security
ICM Capital is committed to ensuring the security of its customers’ funds and personal information. They use cold storage wallets, particularly in cryptocurrency trading, to protect digital assets from hacking and loss.
They also maintain stringent security processes to protect personal information against loss, theft, duplication, and unauthorized disclosure.
ICM Capital’s privacy policies emphasize preserving customer information and providing a secure trading environment.
They also use risk management tactics to monitor price movements in underlying assets or indexes to secure earnings or avoid losses. This comprehensive approach to security includes physical asset protection and the protection of sensitive personal and financial data.
Does ICM Capital have privacy policies in place?
Yes, ICM Capital’s privacy policies emphasize preserving customer information and providing a secure trading environment.
Does ICM Capital protect physical assets?
Yes, ICM Capital implements physical asset protection measures as part of its comprehensive security approach.
ICM Capital Account Types
ICM Capital Direct Account
This account has greater spreads than the Zero account, but there are no commission costs. It is ideal for traders who desire a commission-free structure and are not focused on ultra-tight spreads.
ICM Capital Zero Account
This account provides raw spreads on key currency pairings beginning at 0.0 pips. However, a $7 commission per round turn lot applies. It is ideal for high-volume traders who want the narrowest spreads possible and are satisfied with the fee structure.
ICM Capital Demo Account
Demo accounts are a standard feature of most brokers, enabling inexperienced traders to test trading methods in a risk-free environment with virtual money.
The ICM Demo account most likely mirrors genuine market conditions without the financial risk, giving an educational platform for traders to get acquainted with the broker’s trading platforms and tools.
ICM Capital Islamic Account
Islamic accounts, also called swap-free accounts, adhere to Sharia law by not charging or accepting interest. This account type is intended for Muslim traders who want their trading activity to comply with Islamic financial norms.
Typically, Islamic accounts substitute swap costs with daily administrative fees for positions held overnight, guaranteeing that the trading process is interest-free.
Who is the ICM Direct Account appropriate for?
The ICM Direct Account is suited for traders who desire a commission-free structure and are willing to accept somewhat larger spreads.
Can ICM Capital provide Islamic accounts?
Yes, ICM Capital provides Islamic accounts, also known as swap-free accounts, for traders who follow Sharia law principles.
How To Open an ICM Capital Account
To register an account with ICM Capital, follow these steps:
- ✅ Go to the ICM Capital website.
- ✅ Click on the “Register” button.
- ✅ To register, provide your personal information on the online registration form.
- ✅ Confirm your identity and your address.
- ✅ You must submit copies of a government-issued identification card and a document that serves as proof of residence, such as a mortgage statement or utility bill.
- ✅ Fund your account. ICM Capital allows customers to make deposits using several ways, including credit cards, debit cards, bank transfers, and electronic wallets.
After your account has been funded, you can begin trading.
How are identification and address confirmations completed?
To establish identity and address, normally send copies of a government-issued identification card and a proof-of-residence certificate.
Is a minimum deposit required?
Yes, the minimum deposit necessary to start an account with ICM Capital is USD 200.
ICM Capital Trading Platforms and Software
ICM Capital offers MetaTrader 4 (MT4) as its primary trading platform, catering to various trading requirements. The platform has a straightforward interface, excellent charting capabilities, and Expert Advisors for automated trading methods.
ICM Capital enhances the MT4 experience by adding smooth execution speeds and access to large liquidity pools, ensuring competitive pricing and minimal slippage.
The platform also includes bespoke indicators and analytical tools for beginner and experienced traders, promoting informed decision-making and strategy optimization.
Can I trade using my mobile device with ICM Capital?
Yes, ICM Capital’s MT4 platform is accessible on desktop and mobile devices, allowing users to trade.
Does ICM Capital provide any proprietary trading platforms?
No, ICM Capital uses the popular and extensively utilized MetaTrader 4 platform for its trading services.
ICM Capital Fees, Spreads, and, Commissions
ICM Capital Spreads
ICM Capital offers two account types with varying spread possibilities. The ICM Direct account charges 1.3 pips on EUR/USD, offering beginners a competitive but larger spread. The ICM Capital Zero Account provides raw spreads on key currency pairings starting at 0.0 pips.
ICM Capital Commissions
The ICM Zero Account charges traders a $7 fee per round lot transacted, which is crucial for high-frequency traders or those executing large deals. This commission provides transparency in trading expenses and is allocated to each round-turn lot.
ICM Capital Overnight Fees
ICM Capital charges overnight fees for Forex and CFD trading, incurred when positions are kept open overnight.
ICM Capital aims to offer affordable fees, allowing traders to maintain long-term holdings without excessive charges. These fees are determined by interest rate differentials between currencies, ensuring fairness and transparency for traders.
ICM Capital Deposit and Withdrawal Fees
ICM Capital provides various deposit and withdrawal options, each with associated costs. Deposits include Moneybookers, Neteller, PayPal, and Visa/Mastercard, while withdrawals have a predetermined fee, such as 15 GBP.
ICM Capital Inactivity Fees
ICM Capital charges $50 after 12 months of account dormancy, a low fee to remind customers to stay active on the platform, but traders should maintain consistent activity to avoid excessive charges.
ICM Capital Currency Conversion Fees
ICM Capital charges a currency conversion fee for trades where traders trade instruments in a different currency than their account-based currency. This fee covers converting gains or losses into the account’s base currency, ensuring fair rates and transaction transparency.
Are commissions paid on trades?
Yes, the ICM Zero Account charges a commission of $7 per round-turn lot traded.
Are there currency conversion fees for trading different currency pairs?
Yes, ICM Capital charges currency conversion fees for trades conducted in a currency different from the account’s base currency, ensuring fair rates and transparency.
ICM Capital Trading Instruments and Products
ICM Capital offers the following trading instruments and products:
- ✅ ICM Capital provides worldwide customers with online currency trading conditions, including narrow spreads on Over The Counter (OTC) Spot Foreign Exchange for key currency pairings.
- ✅ Trading includes Over The Counter (OTC) Spot Precious Metals, which differ from futures contracts and focus on the spot price of gold and silver. Trades are done directly between concerned parties, similar to foreign currency trading.
- ✅ ICM Capital offers CFD trading for key US stocks, allowing traders to bet on market swings without owning them outright. The list includes well-known corporations such as Apple, Microsoft, and Google.
- ✅ Over The Counter (OTC) Energy Futures legally bind buyers and sellers to exchange energy commodities at certain prices and periods. Customers may use risk management solutions to speculate on energy price swings without directly owning the assets.
- ✅ Allows ordinary investors to trade Over-the-counter (OTC) index futures with narrow spreads, minimal margin requirements, and quick execution. Tracks numerous assets, such as equities, bonds, and mutual funds, and provides various trading options.
ICM Capital enhances its portfolio with Cash CFDs, giving customers additional trading options and variety. Contains symbols such as UK Brent Oil, WTI Crude Oil, US Dow30, Euro Stoxx 50, and more. The admin fee, the swap charge, or rollover interest is subject to change without prior notice.
Does ICM Capital trade cryptocurrencies?
No, ICM Capital does not currently offer trading in cryptocurrencies.
Are there any limitations on trading US stocks?
No, ICM Capital allows traders to trade a range of US equities.
ICM Capital Leverage and Margin
ICM Capital offers leverage options of up to 1:200 on major forex pairs, allowing traders to manage larger positions than their original margin deposit. However, it is important to note that leverage multiplies potential gains and losses, so traders should use appropriate risk management methods.
ICM Capital allows traders to adjust their leverage levels based on their trading preferences and risk tolerance. Still, it is crucial to understand the implications and ensure it aligns with their trading strategy and financial objectives.
ICM Capital also offers elective professional categorized accounts, allowing qualifying customers to access greater leverage options.
Can traders adjust their leverage levels?
Yes, traders can adjust their leverage levels based on their trading preferences and risk tolerance, ensuring flexibility in their trading strategies.
Is margin trading available with ICM Capital?
Yes, traders can engage in margin trading with ICM Capital, allowing them to trade larger positions with a fraction of the capital required.
ICM Capital Deposit and Withdrawal Options
ICM Capital Deposits
How to Deposit using Bank Wire:
- ✅ To wire funds from your ICM Capital account, go to the “Deposit” section.
- ✅ Select Bank Wire and acquire ICM Capital’s bank account information.
Instruct your bank to conduct a wire transfer using the funds and your ICM account number as the reference.
How to Deposit using Credit or Debit Card:
- ✅ To make a deposit using a credit or debit card, go to the “Deposit” area and pick your card type (e.g., Visa, MasterCard).
- ✅ Enter your card’s number, expiration date, CVV, and deposit amount.
Follow any further authentication procedures specified by your card issuer.
How to Deposit using e-wallets or Payment Gateways:
- ✅ To deposit using an e-wallet (such as Skrill or Neteller), choose it from the “Deposit” choices.
You will be prompted to log in to your e-wallet account to complete the transaction.
ICM Capital Withdrawals
How to Withdraw using Bank Wire:
- ✅ Go to your account’s “Withdraw” section to withdraw funds by bank wire.
- ✅ Select Bank Wire and enter your bank account information (IBAN, SWIFT/BIC, etc.).
Enter your desired withdrawal amount and submit the request.
How to Withdraw using Credit or Debit Cards:
- ✅ Typically, you may only withdraw to the card you used to make the transaction.
- ✅ Enter your withdrawal amount in the “Withdraw” area.
Submit the withdrawal request.
How to Withdraw using e-wallets or Payment Gateways:
- ✅ Go to the “Withdrawals” section of your ICM Capital account.
- ✅ Choose your favorite e-wallet provider from the list of alternatives (for example, Skrill, Neteller, PayPal).
- ✅ Provide your e-wallet account’s email address or ID and the amount you want to withdraw.
Review all information and send your withdrawal request to the broker.
Which withdrawal options are available at ICM Capital?
Withdrawals may be accomplished via bank wire, credit/debit cards, Skrill, or Neteller
How long do deposits take to be processed?
Deposit processing periods vary according to the method used, ranging from quick for e-wallets to 2-5 days for bank transfers.
ICM Capital Educational Resources
ICM Capital provides a comprehensive teaching platform through its ICM Academy, offering tools for traders of all skill levels. The academy provides insights into market dynamics and economic data through online courses, weekly market update films, and educational webinars.
The “Trading for Beginners” course teaches fundamentals of online trading, while the “Path to Professional Trading” course focuses on improving trading abilities.
The academy also provides weekly market updates on key movements in currencies, commodities, and stocks, enabling traders to stay updated on the latest happenings and make informed trading decisions. Overall, the ICM Academy caters to traders of all skill levels.
Who can benefit from the ICM Academy?
The ICM Academy caters to traders of all skill levels, from beginners looking to learn the fundamentals to experienced traders seeking to improve their strategies.
Are the educational resources free for ICM Capital clients?
Yes, the educational resources provided by ICM Capital are typically free for clients, offering valuable insights and tools to enhance their trading skills.
ICM Capital Pros and Cons
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker. Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
In Conclusion
According to our findings, ICM Capital is a reputable Forex and CFD broker with over a decade of experience in the financial markets. It adheres to regulatory compliance, offering a safe trading environment.
The broker offers a variety of account types and trading instruments and provides training tools through the ICM Academy.
However, according to our research, ICM Capital has disadvantages like an inactivity fee after 12 months of dormancy and a $200 minimum deposit requirement.
Despite these, we can conclude that ICM Capital’s reasonable spreads, reliable customer support, and user-friendly trading platforms make it an attractive option for traders seeking a reputable broker in the FX and CFD markets.
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