ICM Capital
Pros
- FCA-regulated at the UK
- Offers CFD on Bitcoin
- Both MT4 along with cTrader offered
- Has insurance to Pay Greater than the UK's FSCS limits
Cons
- Default Prices Is Much worse Compared to ICM Direct than Pro Account
- Few Lookup tools Outside Trading Central
- Maximum leverage Is Significantly lower Compared to other UK brokers
Founded in ’09, London-based ICM Capital Limited obtained consent from the UK with the Financial Conduct Authority (FCA) at 2010, also functions as a wholly-owned subsidiary of ICM Holdings SARL — its own parent holding company situated in Luxembourg.
ICM Capital is currently a MetaTrader along with cTrader broker, offering the most favorite MetaTrader 4 (MT4) package made by MetaQuotes Software Corporation and the cTrader platform made by Spotware Systems. ICM Capital supplies a total of 70 tools, including 3 4 forex pairs, and 3 6 CFDs across multiple asset categories, including on cryptocurrency.
ICM Capital asserts an insurance plan up to no 1million each client by Lloyd’s of London to match the utmost 50,000 from the UK’s Financial Services Compensation Scheme (FSCS) which will be granted per client incase there is ICM Capital’s bankruptcy.
Is ICM Capital Safe?
ICM Capital is considered insecure, using an overall Trust Score of 70 out of 99. ICM Capital isn’t publicly traded and doesn’t operate a bank. ICM Capital is authorised by one tier1 regulator (high trust), zero tier 2 authorities (average hope ), and also anti-inflammatory Tier 3 authorities (low trust). ICM Capital is authorised by the Subsequent Tier1 Rule: Financial Conduct Authority (FCA). Learn about Trust Score.
Regulations Comparison
| Feature | ICM Capital |
|---|---|
| Founded | 2009 |
| Publicly Traded | No |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Trust Score | 70 |
Offering of Investments
This table outlines the various investment services and products readily available to ICM Capital customers.
| Feature | ICM Capital |
|---|---|
| Forex: Spot Trading | Yes |
| Currency Pairs | 32 |
| CFDs – Total Offered | 35 |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | No |
Commissions & Fees
Trading costs at ICM Capital are contingent on the accounts chosen. Included in these are the ICM Direct Account, together with average spreads of 1.3 pips over the EUR/USD, and also the ICM Pro Account, at which spreads shed to 0.9 pips about precisely the exact same pair.
But as the live trading accounts defaults into ICM Direct, where spreads are high, traders that ask the business’s Pro Account receive its wider offering, at which pricing at the above mentioned EUR/USD case was fourth-tenths of a pip better.
Included in these are the ICM Direct Account, together with average spreads of 1.3 pips over the EUR/USD, and also the ICM Pro Account, at which spreads shed to 0.9 pips about precisely the exact same pair.
| Feature | ICM Capital |
|---|---|
| Minimum Initial Deposit | $200.00 |
| Average Spread EUR/USD – Standard | 1.30 |
| All-in Cost EUR/USD – Active | 0.900 |
| Active Trader or VIP Discounts | Yes |
Customer Service
For the 2018 Forex Review, 129 customer service phone evaluations were ran within three weeks. The information accumulated is systemic grade. Normally, three questions were asked for each evaluation. To evaluate each evaluation, the evaluations were broken up into three distinct classes and scores were awarded to get the full time required to join to each service representative and the skill of each and every rep to professionally (and thoroughly) answer each query. A Net Promoter Score was likewise given to your general experience.
Results:
- Average Connection Time: <1 minute
- Average Net Promoter Score: 6.26 / 10
- Average Professionalism Score: 7.2 / 10
- Overall Score: 6.9 / 10
- Ranking: 14th (43 brokers)
Research
ICM Capital delivers several trading applications, including calculators such as pivot pips and points, an everyday news upgrade, an economic calendar, and also articles in third-party providers, such as for instance Trading Central.
As an accounts holders, ICM Capital provides a regular newsletter from Trading Central, and access to Trading Central’s web portal site and index for MT4. All in all, the broker’s research offering, in addition to its education offering, are light and also maybe not categories by which ICM Capital positions well.
| Feature | ICM Capital |
|---|---|
| Daily Market Commentary | Yes |
| Forex News | Yes |
| Weekly Webinars | No |
| AutoChartist | No |
| Trading Central | Yes |
| Delkos Research | No |
| Social Trading / Copy-Trading | Yes |
| Social Sentiment – Currency Pairs | Yes |
| Economic Calendar | Yes |
Platforms & Tools
ICM Capital delivers that the MetaTrader 4 (MT4) platform made by MetaQuotes Software Corporation, and also the cTrader platform package made by Spotware Systems. To find out more regarding MT4, browse on our MetaTrader Guide, and also to find out more regarding Spotware Systems platforms and visit our guide to cTrader.
While MT4 comes conventional, with minimal variation in functionality from broker to broker, there might be significant gaps in the way in which a platform is placed up for trading spreads and spreads, implementation, and also other applications, features, and administrative locations.
Besides propagates, the Selection of tools, and accounts kinds, Here’s a summary of the differences in attributes between ICM Capital’s accessible MT4 platform installment as well as also the default option MetaTrader encounter:
- Offers MT4 Web Terminal
- Offers Trading Central index
- Doesn’t flow news reports on the stage
| Feature | ICM Capital |
|---|---|
| Demo Trading | Yes |
| Proprietary Platform | No |
| Desktop Platform | Yes |
| Web Platform | No |
| Social Trading / Copy-Trading | Yes |
| MetaTrader 4 | Yes |
| MetaTrader 5 | No |
| cTrader | Yes |
| Charting – Indicators / Studies | 51 |
| Charting – Drawing Tools | 31 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 7 |
| Order Type – Trailing Stop | Yes |
Mobile Trading
ICM Capital is really a MetaTrader along with cTrader broker, using iOS and also Android variants of each platform accessible normal and available for downloading from the Apple iTunes store and Android Playstore for every single program.
| Feature | ICM Capital |
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Trading – Forex | No |
| Trading – CFDs | No |
| Alerts – Basic Fields | Yes |
| Watch List | Yes |
| Watch List Syncing | No |
| Charting – Indicators / Studies | 30 |
| Charting – Draw Trend Lines | Yes |
| Charting – Trend Lines Moveable | No |
| Charting – Multiple Time Frames | Yes |
| Charting – Drawings Autosave | No |
| Forex Calendar | No |
Other Notes
For live accounts holders that assert $4,000 or longer, ICM Capital features free Virtual Private Server (VPS) hosting. It’s worth nothing while ICM Capital cites offering MT5, we affirmed that MT5 wasn’t readily available for retail traders during the right time of the review. Concerning implementation procedures, ICM Capital’s consent with the FCA lets it behave as both representative and trader.
Back in 2017, ICM Capital introduced cryptocurrency trading by launch CFDs on Bitcoin, enabling to appeal to this expanding attention in investors and traders searching for vulnerability on digital resources. But with a max of just 0.5 lots each trade, ICM Capital’s Bitcoin CFD offering is prohibitive.
Final Thoughts
ICM Capital provides traders having a bit significantly more than just other forex brokers regulated by the FCA, since it preserves additional insurance to help pay off customers who might possibly be eligible under the UK’s FCSC at the eventuality of the business’s bankruptcy, together with around maximum of $1 million policy per client.
A big advancement into this broker’s offering came in 20 17 with the initiation of the cTrader package of programs manufactured by Spotware Systems, helping ICM Capital distinguish itself out of MetaTrader-only brokers.
Nevertheless, ICM Capital’s research offering stays quite light beyond a few superior articles from third parties, for example Trading Central. Research and educational tools are just two areas where the broker can enhance its own offering.
Last, ICM Capital’s improved prices onto its own Pro Account offering — that gets got the exact same minimal deposit requirements — needs to be manually asked, in comparison with ICM direct, that includes wider spreads, so which makes it an unideal default accounts option. In general, ICM Capital supplies a mixed supply, together with room for developments whilst the broker ended 33rd out of 43 brokers inside our 2019 Review.