5.8

Written by

Robert J. Williams Fact checked by

Alexandra Winters Updated Июнь 28, 2025 CategoryForex Brokers

ICM Capital Review 2025: Are They Trusted?

★★★★★

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5.8/10 (Expert Score)

Product is rated as #29

Trust

6.5

Fees

6.5

Platform and Tools

Customer Support

Tradeable Instruments

Account Types and Terms

Deposit and Withdrawal

Research and Education

ICM Capital Overviews

ICM Capital is an international online ECN/STP broker that lets you trade forex, precious metals, US stocks, futures, crypto, and securities. They have been in operation since 2009 and hold multiple awards for their various brokerage services, with the first award dating back to 2011. Other aspects of the broker include them offering typical promotions, withdrawal methods, and customer support. Let's see how good this broker is, what they offer, and if they suit your trading style and what you are looking for.

In the past, this broker also sponsored companies and teams such as Newcastle United FC and Fulham FC and has entities that operate throughout the globe, being regulated by multiple financial authorities.

Clients can open up two account types, with one having no commission and the other having zero spread, with the trading platforms available to trade being MT4, MT5, and cTrader.

Other aspects of the broker include them offering typical promotions, withdrawal methods, and customer support. Let’s see how good this broker is, what they offer, and if they suit your trading style and what you are looking for.

Broker Feature	Overview
Type of Broker	ECN/STP broker
Regulation & Licensing	· Financial Services Authority of Seychelles (FSA) · Financial Conduct Authority (FCA) · Financial Services Commission (FSC), In multiple regions · Association Romande des intermédiaires financiers (ARIF) · Stockholm County Administrative Board · Qatar Financial Centre of Qatar (QFC)
Applicable Countries Allowed To Trade	US, North Korea, China
Assets Offered	Forex, Metals, Futures, Shares, and Cash CFDs
Platforms Available	MT4, MT5, cTrader
Mobile Compatibility	yes
Payment & Withdrawal Options	MasterCard, Skrill, bitcoin, Neteller, Monetix, Finrax

Pros and Cons

PROS

Regulated by seven authorities
Futures and securities trading
Nice range of forex pairs
Easy to open an account
Good customer and technical support
Regular promotional offers
Obtained several awards

CONS

Only two account types
Maximum leverage is 1:200;
The minimum deposit is USD 200 or an equivalent amount
Trading resources and education material is limited

Is ICM Capital Safe? Broker Regulations

Suppose you know anything about broker regulations or the entities that oversee them. In that case, you will know that the more entities the broker has and the more regions that they operate in mean that they should (in all instances) be regulated by respective authorities in that region.

ICM Capital is a large online global forex broker. Due to this, they not only have offices across the globe but also operate their various entities in many regions. Technically, they operate seven separate entities that all function under the umbrella of ICM Capital, and, in fact, all these entities are regulated in their specific regions.

Some of these financial regulators are considered “top-tier” regulators, and due to these factors on their own, we can regard ICM Capital as having a good standing and can be trusted. Not only does ICM Capital provide the list of their regulators on their home page, but they also provide us with the license number which is applicable to each authority.

Here is a list of the entities under the ICM Capital umbrella and the regulators that oversee them in each region;

ICM Capital Limited (UK) is regulated and authorized by Financial Conduct Authority (FCA), registration number: 520965.
ICM Capital Limited (MU) is regulated and authorized by the Financial Services Commission of Mauritius under license number: C118023357.
ICM Capital (Labuan) Limited is regulated and authorized by the Financial Services Authority of Labuan under license number: MB/18/0029.
ICM Capital LLC (VC) is registered by the Financial Services Authority of Saint Vincent and the Grenadines under number: 1853 LLC 2022.
ICM House AG (Zurich, Switzerland) is licensed under the supervision of ARIF registration number CHE-497.911.976.
ICM House KB is registered and regulated under the laws of Sweden under the supervision of the Stockholm County Administrative Board with registration number: 969792-7961. SWIFT/BIC: ICHOSES2.
ICM LLC (Qatar) is regulated and authorized by the Qatar Financial Centre of Qatar under license number: 00908.

Another way to tell if a broker is safe or reputable is to see if they have any awards. This will depict in many ways if they are outstanding in any of the services they provide. ICM Capital dates all the way back to 2011, with its most current award being received in 2022.

There is another way to check if clients are happy with the broker, and that is to check user reviews. Typically you can go to Trustpilot to get an overview of the clients that have signed up and use a particular broker. However. In ICM Capital’s case, there are few reviews from which to draw an unbiased opinion.

Financial Services Authority of Seychelles (FSA)
Financial Conduct Authority (FCA)
Financial Services Commission (FSC), In multiple regions
Association Romande des intermédiaires financiers (ARIF)
Stockholm County Administrative Board
Qatar Financial Centre of Qatar (QFC)

What Can I Trade with ICM Capital?

ICM Capital has an array of assets that clients are able to trade. Compared with other brokers we have reviewed, we would say that their product catalog of instruments ranks above average. You are able to trade forex, US stocks, precious metals, index futures, energy futures, ICM securities, and cryptocurrency. Let’s look at these in a bit more detail.

Forex

ICM offers more than 60 currency pairs to trade, including major, minor, crosses, and exotics. Their advanced platform used an ECN/STP model that provides direct throughput to the forex market. This essentially means that spreads are tighter and executions on orders are fast.

US Stocks

ICM offers OTC trading on many US stocks that allow you to speculate the movement of the shares, meaning you can short-sell if you choose to. Remember that when trading CFDs, you are not trading the movement of the pip share price, but you are shorting or buying a fixed amount of CFDs comparable to the number of shares in question.

Precious Metals

More OTC trading from ICM includes precious metals like spot gold and silver quoted against the EUD and the USD. They reiterate that due to their platform, you are able to put through lightning-fast executions while having very low spreads, even for these assets.

Index Futures

Without the need to operate via the central exchange market, ICM offers OTC trading on all major index futures. The indices made available to clients of ICM will be able to trade stocks for more than 600 different companies situated worldwide. Trading Futures through ICM removes the need for a third party and offers a large portion of the national market.

Energy Futures

Clients can also speculate on the movement of specific energy futures contracts and, once again, without the need to operate through the central exchange. CFD trading with ICM on energy futures is made easy, and execution is fast, and it also removes the aspect of needing to deal with a futures exchange broker.

ICM Securities

ICM Securities is a platform that ICM offer which gives clients access to several global stock markets that include assorted sectors. These include the New York Stock Exchange, the Nasdaq Stock Market, the London Stock Exchange, the Dubai Financial market, and more. This is a great way for clients to diversify their portfolios.

Cryptocurrency

Using an ICM Direct or an ICM Zero account, clients are now able to trade 7 cryptocurrency pairs. The ICM platform allows clients to trade crypto in the form of CFDs with low latency execution and tight spreads with a margin requirement of only 50%.

Forex
US Stocks
Precious Metals
Index Futures
Energy Futures
ICM Securities
Cryptocurrencies

How to Trade with ICM Capital?

There are three ways by which clients can trade when signing up to use ICM Capital. If you have read any of our other reviews, you will know that most brokers use MetaTrader 4 and/or 5 as part of their catalog regarding their trading platforms. Then some have their own proprietary software and sometimes the addition of a mobile trading app.

In the case of ICM, they include the use of MetaTrader 4 and also 5, both of which are regarded as the gold standard for trading platforms. The great thing about ICM in contrast to some of the brokers (with low scores) that we have reviewed that do not include support for these platforms on multiple devices, is that ICM does.

ICM, in this instance, has MT4 and MT5 available for all platforms that, include;

Windows
Mac
Android
Web Terminal

They also have a section for iOS, which they once included, but as you should know by now, Apple removed MetaTrader from their app store. They also give clients access to their MT4 web terminal.

Take note that the image below shows a screenshot of their MT4 page, but their MT5 page is identical, addressing the same features and available devices.

Then the last way ICM Capital lets clients trade forex and products based on futures contracts is through a platform called cTrader. ICM claims that it has helped countless traders in the financial sector, and the platform may very well be one of the best innovative trading platforms that are designed for the 21^st century. This platform is available for most (if not all) devices that include;

Windows
Mac
iOS
Android
Web Terminal

Feature	MetaTrader 4 and 5	cTrader
One-Click or One-Tap Trading	Yes	Yes
Trade Straight off Charts	Yes	Yes
Email Alerts or Push Notifications	Yes	Yes
Mobile Alerts	Yes	Yes
Stop Order	Yes	Yes
Market Order	Yes	Yes
Trailing Stop Order	Yes	Yes
OCO Orders (One-Cancels-The-Other)	Yes	Yes
Limit Order	Yes	Yes
24hr trading	Yes	Yes
Charting Package	Yes	Yes
Streaming News Feed	Yes	Yes

MetaTrader 4 (Windows, Mac, Android, Web Terminal)
MetaTrader 5 (Windows, Mac, Android, Web Terminal)
cTrader (Windows, Mac, Android, iOS, Web Terminal)

How Can I Open ICM Capital Account? A Simple Tutorial

Opening up an account with ICM Capital is quite straightforward, as is the case with most online brokers nowadays. You will first need to head to their website and click on the “register” button which is located in the top menu.

Doing this will take you to the first portion of the registration page, where you will need to input your name, last name, Email, country, phone number, and the entity of ICM Capital you will be trading with. Luckily the ICM website is quite astute at determining where you are from and your country, along with your phone code, and the appropriate entity will be automatically selected for you.

It should be noted that, unlike other brokers, this ICM probably has the fastest signup process because that is all you will need to do to register a demo account with them. There are no other steps. Once this is done, you will be sent an Email with your demo account details and the option to open a live account via a link.

To open a live account simply follow the link and input your credentials, and you will be taken to the client area. After you have entered the client area, you will need to navigate to the “open live account” tab and then proceed to fill in the required information. This will include your date of birth, address, nationality, proof of residence, ID, and so on.

Following that, you will need to wait for identity verification, and you will be prompted with the details that you selected for your live account.

Head to the ICM Captial website
Click on the "register" button to open a demo account
Fill in the required fields (name, Email, etc.)
Submit and register
Follow the link in the response Email to register a live account
Navigate to "open live account"
Follow the prompts and input your personal details

ICM Capital Charts and Analysis

The trading resources that a broker offers will give you insight into how much care the broker takes in the company and in helping their clients and prospective clients. Regarding ICM Capital, their resources include an array of material and also educational material that clients and non-clients can utilize depending and they include;

Trading Central
Trading Tools
Introduction To Forex
Trading Rules
Analysis
Trading Glossary

Trading Central is a technical analysis package that can identify real-time actionable trading opportunities. A Daily Market Report is accessible to all demo and live account holds with the addition of using Trading Central’s MT4 indicator, which also includes the use of the Trading Central News Portal.

The indicator is used to identify trading opportunities (like most indicators), and the News Portal offers what ICM state to be “award-winning” research to help their clients to make better-informed decisions on their trading positions.

The trading tools that ICM Capital provides are that of an economic calendar (that is up-to-date) along with a pip and pivot calculator. The pip calculator will help you determine the value of a pip based on its currency pair and the lot size you wish to trade. Then the pivot calculator is designed to help you calculate pivot points in only a matter of seconds.

Their “introduction to forex” section is not all that great, but they do give you an overview of what forex is and its most basic concepts. We regard other brokers as having much better tutorials and overviews of what forex is, and ICM would do well to update or even change this section to include more relevant content.

Then there is the trading rules section, where ICM explains how to calculate profits and losses manually even though their version of MT4 includes full back office functionality. Here you will learn and compare Primary (base) vs. Secondary Currencies as well as see real examples and calculations of profit and loss.

The technical analysis section is somewhat the same as their previous sections in that there is information regarding technical analysis and indicators; however, it is a brief overview of the most popular ones that traders use. This is not to say that the information is irrelevant, but other brokers and just searching the internet could provide you with more information and a clearer understanding of what technical analysis is and how to use the indicators in question.

Lastly, they have a glossary section that is dedicated to the most frequent words used in trading (jargon) that traders use and that you will need to know when learning how to trade and how the financial markets work. We would rate this section as average because there are hundreds of words, and this glossary only covers a portion of them.

All in all, ICM offers trading resources as average except for Trading Central. Other brokers offer live market news and outlook straight from sections off their site (like ZFX) and even offer trading tutorials in blog or video form.

Trading Central
Trading Tools
Introduction To Forex
Trading Rules
Analysis
Trading Glossary

ICM Capital Account Types

There are only two accounts that ICM offer; however, they differ by region for the UK, Mauritius, and then Saint Vincent and the Grenadines. When looking over these account types, you will find that there are actually no differences between them except that the Mauritius and Saint Vincent and the Grenadines accounts offer cTrader as an optional platform, while the UK accounts do not.

The two accounts that ICM offer are a Direct (ECN) and a Zero account. The only difference between these two accounts is the spread, whereby the Direct account has a variable spread where you will need to check the ICM contract specifications page to see what they are. In contrast, the Zero account has no spread but has a 7 USD/Round lot.

Other than that, the accounts are identical in that the base currencies are USD, EUR, GBP, or SGD. Leverage on all accounts is 200:1, and the minimum lot size is 0.01. The assets available to trade on these accounts include all the ones mentioned in the previous assets section, and there are no minimum stop/limit levels for forex and metals.

Both accounts are swap-free and include SMS updates, segregated accounts, a real-time news feed, an expert advisor, a credit bonus, Central Market news, and custom trading conditions. Take note that a lot of these features are included as standard in MT4 and 5 and are not specific to ICM.

ECN/STP Broker	ICM Direct Account	ICM Zero Account
Features	SMS updates, segregated accounts, a real-time news feed, an expert advisor, a credit bonus, Central Market news, and custom trading conditions	SMS updates, segregated accounts, a real-time news feed, an expert advisor, a credit bonus, Central Market news, and custom trading conditions
Account Currencies	USD, EUR, GBP or SGD	USD, EUR, GBP or SGD
Available Leverage	200:1	200:1
Minimum Deposit	200 USD	200 USD
Commission Per Trade	Zero	$7/Round lot
Decimal Pricing	Fifth	Fifth
Trading Instruments	Forex, Metals, Futures, Shares, and Cash CFDs	Forex, Metals, Futures, Shares, and Cash CFDs
Min. Lot Size Per Trade	0.01 of a Standard Lot	0.01 of a Standard Lot
Max. Lot Size Per Trade	N/A	N/A
Spreads	Variable	Zero
Demo Account	Yes	Yes
Swap/Rollover Free	Yes	Yes
Hedging	Yes	Yes
Scalping	Yes	Yes
Copy Trading Support	Yes	Yes
Available to US Residents	No	No

ICM Direct account
ICM Zero account

Do I Have Negative Balance Protection with This Broker?

ICM Capital has a great policy in that they offer negative balance protection to all their clients on both of their accounts, no matter the region. This means that if a client’s account goes into the negative as a result of a stop-out, ICM Capital will adjust/restore the equity of the client’s account back to zero.

This is great because it means that the client never has to worry about losing more than what they deposited into their account. It would help to remember that this is not the case with all brokers. In fact, some brokers that we have reviewed on the site (YunikonFX and others) don’t provide any negative balance protection for their clients.

YunikonFX goes as far as to say that clients are responsible for the negative equity in their accounts and will take legal action to reclaim a negative balance from a client. Forex trading already has a high barrier to entry in terms of understanding and the monetary value involved. As such, brokers like ICM (and ZFX), who offer negative balance protection, present a way to limit fear and promote new traders to step into the world of forex and trading.

Negative balance protection on all accounts

ICM Capital Deposits and Withdrawals

The first thing to note is that ICM has a dedicated section for information regarding deposits and withdrawals, and one section on that page refers to the security of funds. To ensure further safety for clients, ICM has segregated client accounts. This means that client funds are separate from the brokers, and in the event of something bad happening, the client’s money will be safe.

Moving onto the methods that ICM offers its clients if they want to deposit or withdraw funds, there are several that include;

Master card (debit and credit)
Skrill
Bitcoin
Neteller
MonetixAPM
Finrax

Funds are deposited through the client area, and ICM gives a breakdown along with images to show you how this is done. Here is what you will need to do;

Go to ICM Access, log in using your Email and password, and click on Deposit Funds
Choose ICM Cashier for the appropriate account and click on Make A Deposit
Select your preferred funding method
Fill in the necessary details and enter the desired amount
Click Deposit Now

Take note that you will need to first open a live account and go through the identity verification process before depositing and withdrawing funds. As you can see by the screenshot below, there is no option for funding an account unless a live account is open.

Then ICM will only return funds that are requested as a withdrawal in the same method they were deposited in. Normally ICM will process the withdrawal within the same business day; however, once the funds leave your account, the banking system may take up to 3 to 5 days to process the funds. They also state that in some rare cases, this may take longer, and if you experience a problem, you should contact support at;

clientservices@icmcapital.co.uk
+44 207 634 9770

Lastly, note that the minimum deposit for both accounts is 200 USD. In addition to this, all future deposits also have to be a minimum of 200 USD.

Minimum deposit for all accounts is: 200 USD
Skrill
Debit and credit card
Neteller
Bitcoin
MonetixAPM
Finrax

Support Service for Customer

The client support that ICM offers new and existing clients is quite substantial. They have both client support channels and then technical support channels.

Heading to the “contact us” section of the site will bring up all this information, along with information regarding the address of their headquarters for the UK and for the UAE. You will also find a contact form where you will be able to send them a message, and a representative will get back to you.

Take note that this contact information is via the UK site, and the ICM.com site does not offer contact information, so you should be aware of this.

In terms of the customer support channels, they are available from 6 am to 6 pm GMT, Monday to Friday, and they can be reached by;

+44 207 634 9770
clientservices@ICMCapital.co.uk

Then you are able to reach technical support 24 hours a day, Monday to Friday and the channel for this is;

+44 207 634 9777

Lastly, they also offer a live chat feature that is accessible from all of their websites, both the UK and universal versions. Zendesk powers this, and many top-tier brokers (like ZFX) use this integration to give seamless customer support.

ICM Capital Customer Support	Overview
Supported Languages	English, Spanish, German, Portuguese, Chinese, Arabic, and Thai.
Customer Service By	ICM, Zendesk integration
Customer Service Hours	6 to 6 and 24 hours a day, Monday to Friday
Email Response Time	Within 24 hours
Telephonic Support	Yes
Personal Account Manager	No

Supported Languages: English, Spanish, German, Portuguese, Chinese, Arabic, and Thai
Customer Service Channels: FAQs, Email, Contact form, Telephone, Live Chat
Customer Service Hours: 24/7 Monday to Friday (Technical) and 6 to 6 Monday to Friday (Customer)

Prohibited Countries: Where Can I Not Trade with this Broker?

All international online brokers will have numerous countries that they are not allowed to accept clients from. This is due to many factors, including laws, restrictions, regulations, and so on, depending on the region.

In the case of ICM Capital, you can find the restricted countries on the home page’s footer, including the USA, North Korea, and China. ICM also stated that they do not accept clients from a few other countries, and going to the UK website and searching for additional information on this presented no further information on the matter.

Remember that most online brokers will not accept US citizens because of the strict laws imposed by the SEC (Securities Exchange Commission). Thus if you are in the states, you will need to look for a broker that operates in North America.

North Korea
US
China

Special Offers for Customers

ICM offers what you will typically expect from a lot of top-tier brokers when it comes to promotional offers. You can find their promotions by heading to that section of the site, but it should be noted that ICM (as with other brokers) run promotions for a period, and then they expire.

They currently offer a 10% credit bonus that will apply to all accounts and will be issued on each new deposit above 1,000 USD. Take note that this bonus is different from a signup bonus, where a broker will only fund credit you with a bonus on a new account and only once.

They also offer a Marketing Agent Partnership, which can be classified as between an IB and an affiliate program. By referring clients to trade with ICM companies or individuals will be entitled to a rebate.

Lastly, they offer an ICM MasterCard. This is not technically a promotion but is something that you can apply for. The card acts like a typical mast card and lets you make online and offline payments without opening a bank account. There is also a mobile app that lets you monitor and track activity for the card, and the card comes with a wide range of benefits and discounts. There are two types which are the ICM Silver and Black MasterCards. These are some of the special features and discounts they provide;

ICM Silver Features

International Acceptance
Multi-currency Acceptance
Online Access

ICM Black Features (in addition to the above)

Access to 900+ airport lounges worldwide
Fast-track at passport control at QAIA
Medical Travel and Inconvenience Insurance
Special privileges and 10% discount on onefinestay luxury serviced apartments
Up to 25% off your next Avis car rental
Enjoy 15% discounts on Careem rides

10% Credit Bonus
Marketing Agent Partnership
ICM MasterCard

ICM Capital Review Conclusion

ICM Capital is a broker that has been around since 2009 and is regulated by several financial authorities. They offer assets that most other brokers offer, except for the fact they also offer futures and securities trading.

We consider this broker due to the fact that they have been around since 2009, are regulated by many authorities, have numerous awards, and have sponsored teams like Newcastle United FC and Fulham FC in the past to be quite reputable.

Compared to other brokers we have reviewed, we rank them as above average because the assets list is limited (to a degree), the trading and educational resources available are lacking, and only two account types exist.

Summary and Key Takeaways

ICM Capital is a forex ECN/STP broker located in the UK and has been in business since 2009. The FCA, FSC, and FSA, along with other authorities, regulate this broker. The two account types include a Direct and Zero account, with one offering no commission while the other offers zero spreads.

The trading resources for this broker are limited, and the available promotions are typical, except that you can apply for an ICM MasterCard. Besides MT 4 and MT 5, which are available for all devices, they also offer cTrader, another platform that allows for forex and futures trading.

Regulated by several financial authorities
Two trading accounts for all regions
Futures and securities trading
10% credit bonus on a 1,000 USD deposit
ICM MasterCard is available
cTrader, in addition to MT4 and MT5

About Author

Robert J. Williams

Robert J. Williams, a finance graduate from the London School of Economics, dove into finance clubs during her studies, honing her skills in portfolio management and risk analysis. With a career spanning prestigious firms like Barclays and HSBC, she's become an authority in asset allocation and investment strategy, known for her insightful reports.

1 review for ICM Capital Review 2025: Are They Trusted?

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★★★★★
Stacey Thompson – Декабрь 10, 2023
ICM is a big scam broker, I paid a huge amount with nothing in return, They scammed me, into putting my hard earned money with hope to get some profits in return, they won’t allow me to withdrawal my investment. All because all they wanted is to steal my money. I went ahead to seek a refund case against them, to my greatest surprise, they helped me withdraw my money I guess am not the only victim many people might need this information.
+ PROS: I got back my scammed money
- CONS: They tried to scam me
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