ICM Capital Review
Welcome to our ICM Capital review, where we delve into the specifics of this broker company. With over 70 instruments, including 34 currency pairs and 36 CFDs across many asset classes, they stand out as a reputable broker.
Our ICM Capital review shows that they offer MetaTrader and cTrader platforms as part of FCA regulations in the United Kingdom. From this, we gathered that they have consumer protections to make sure that the clients are protected.
ICM Capital regulates an insurance policy of up to one million pounds per client. These insurance policies are from Lloyd's of London to supplement the maximum amount of £ 50,000 from the UK Financial Services Compensation Scheme (FSCS). It can be available to one customer in the event of insolvency at ICM Capital.
ICM Capital Markets and Accounts
However, Transaction costs depend on the selected account. These include the ICM Direct Account, with typical spreads of 1,3 pip per EUR / USD and with the ICM Pro account, where the ranges fall to 0.9 pips for the same pair.
ICM Capital offers several trading tools. It includes point and pips calculators, daily news updates, economic calendars, and content from external suppliers such as Trading Central.
In addition to premium content, the research is different. And their default price is high compared to the new Pro Account offer, which must be ordered manually. The accounts offered here include:
- Demo account
- Standard account
- ECN account
- STP account
With these, you can use the demo accounts provided to understand what each one offers you and how you can benefit from using any of them.
Spreads and Leverage
Our ICM Capital review shows that they have to float and fixed spreads. They have variable spreads of 1.3 pips on the EUR/USD pair, ideal for the market. The fixed spreads are competitive, hitting about 1.6 on the same pair.
They do not charge commission and pays themselves using the price spreads. As for leverage, our ICM Capital review reveals that they have a maximum leverage of 1:500, which means that it is high.
The thing about leverage is that it can put a hole in your account very quickly if something goes wrong with the decisions you make. It is easy to double profits and triple losses.
Our ICM Capital review would not be complete if we did not mention the kinds of trading accounts you can get here. They include:
1. Standard Account
This one is for people who live outside of Europe and Mainland China. With this account, you will have access to the future, shares and commodities, and forex trading. It is also an STP account.
For this kind of account, you will get spreads that range from 1-4 pips, and among the traders, you can SWAP easily. However, with something like this, you might face a re-quote that could be a hindrance to the way you trade.
Always be careful in the decisions you make when using this account to make sure that you do not box yourself into a position that you might not be able to get out of.
Our ICM Capital review research shows that this account is provided for all traders, except for those in the United States. Like the standard account and the direct account, you will have access to all the future, stocks, and shares that you need.
One of the benefits is that there is no commission charged when a trader opens it with the ECN Platform.
ICM Capital Platforms
ICM Capital is a broker of MetaTrader and cTrader. As a best forex broker, they offer the popular MetaTrader 4 (MT4) package designed and developed by MetaQuotes Software Corporation.
The level of choice we see in compiling the information for this ICM Capital review, tells us that you can trade using 100% web-based platforms or choose to do it on a desktop with MT4 installed and even on mobile.
For holders of live accounts, the service offers a daily newsletter. These newsletters are from Trading Central. They provide access to the internet portal and indicator for MT4. In general, the broker's research offer, as well as the educational offer, is light and not the categories in which ICM Capital ranks well.
ICM CAPITAL DETAILS Overview
|Established: 2009||Website: https://www.icmcapital.co.uk|
|Address: New Broad Street House 35 New Broad St, London, EC2M 1NH, United Kingdom.||Minimum to Open Live: $200|
|Regional Offices: United Arab Emirates.||Regulators: : The Financial Conduct Authority, UK (FRN: 520965).|
|Minimum Trade Size: 0.01||Prohibited Countries: For restricted countries, see this list. www.icmcapital.co.uk › restricted_countries_100USD_promo|
|Maximum Leverage: 1:30||ECN: Yes.|
|Mobile Trading: Available||Currencies: 30+|
|Trading Platforms: MT4.||Cryptocurrencies: Probably just Bitcoin, but check with the company to be sure.|
|Robots: Available.||CFD: 75+|
|Scalping: Allowed||Web Trading: Available|
|Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill, UnionPay.||Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill, UnionPay.|