ICM Capital Review
Introduction to Review of ICM Capital
ICM Capital is an international forex broker that is headquartered in London and regulated by the UK’s Financial Conduct Authority. Besides the companies enviable FCA regulated entity, the ICM brand is used by a number of affiliated companies which are incorporated and regulated around the world, allowing the company to cater to a wide range of clients in different regions.
The company was first launched in 2009 and had held its FCA license since 2010. Historically ICM Capital has been a run of the mill MetaTrader broker. In recent years, the company seems to have been trying to step up its game, but it also seems to be a work in progress. In 2018 the company launched cTrader. ICM has not yet established itself as a notable broker within the cTrader community. Brokers like IC Markets and Pepperstone continue to be at the front of the pack.
About ICM Capital
As mentioned earlier, the broker maintains a number of regulated companies around the world. It seems as though most of these companies are owned by a common holding company called ICM Holding SARL, which is based in Luxembourg. Here is an overview of the companies which are a part of the ICM Capital global footprint.
Charlgate Ltd. is regulated by the Cyprus Securities Exchange Commission with license number: 367/18. The company operates under the tradename ICM Europe.
ICM Capital Limited
ICM Capital Limited (United Kingdom) is authorized and regulated by the Financial Conduct Authority (FCA) Register Number: 520965.
ICM Capital (Mauritius) Limited
ICM Capital (Mauritius) Limited is registered in Mauritius and regulated by the Financial Services Commission, Mauritius (FSC Mauritius) under License Number: C118023357.
ICM Capital Limited (Saint Vincent)
ICM Capital Limited (Saint Vincent) is regulated by the Financial Services Authority of Saint Vincent and the Grenadines under Number: 23683 IBC 2016.
ICM Asia Pacific
ICM Capital APAC is registered in Labuan, Malaysia and regulated by the Financial Services Authority of Labuan under License Number: MB/18/0029.
Because the company has such a wide range of companies that are regulated in different jurisdictions and tailored to different markets, the trading conditions are far from consistent. This review generalizes many details.
ICM Capital Trading Conditions
MetaTrader 4, MetaTrader 5 and cTrader platforms are offered throughout the ICM Capital Group of companies. However, the UK company only offers MT4 to clients. Most of the brands appear to provide around 40 FX trading pairs, precious metals, oil, cash indices and US stocks. The trading costs with ICM Capital UK seem to be high. The ICM Direct account (the standard account) has an advertised spread of 1.3 Pips on EUR/USD. Whereas the ICM Zero account (the ECN account) has an advertised spread of 0.4 Pips, plus a $7 per Lot commission. Islamic/SWAP-free accounts are offered to clients following the Muslim faith.
ICM Capital Review Conclusion
Due to the complex structure of the group of companies, it’s hard to evaluate the advantages and disadvantages of trading with ICM Capital. It would require a vast amount of analysis to compare and evaluate each entity to produce any meaningful conclusion.
Generally speaking, the company is clearly intent on doing honest and reliable business but is navigating a harsh regulatory environment, as many brokers are these days. If you are interested in trading with one of the ICM Capital brands, you should evaluate the trading conditions offered by the specific entity that will be responsible for your trading account. Bear in mind that platforms, payment methods, trading pairs, spreads, promotion can differ wildly.