ICM Capital review
ICM Capital is a broker based in London whose support and operation offices are located in Dubai and Shanghai. ICM Capital is known for its wide variety of products which includes OTC Spot foreign exchange, OTC Precious Metals, OTC US Stocks, and OTC Energy Futures. You can easily access markets through a single account and there is deep liquidity.
ICM Capital has received several awards and is a leading institution in the UK. It is a broker regulated by the Financial Conduct Authority (FCA), which has made it its aim to protect customers and ensure the industry’s stability. FCA is one of the most popular and reputable authorities and ensures the safety of customers’ funds.
ICM Capital has one account type known as ICM Direct. It also offers a demo account to help beginners get used to the trading environment and tools available. This broker is respectful of religious restrictions and offers Islamic accounts as well. These accounts don’t apply swap or interest on overnight positions as it is not allowed in Islam. Muslims can easily trade in a comfortable environment.
The fees at ICM Capital are based on a spread. There is no deposit or withdrawal fee, and while an inactivity fee is present, it is an average amount. When using a standard account, you should see the rollover rates. For example, the EURUSD can impose -7.86$ while selling gets 2.68$.
ICM Capital keeps spreads consistently lower. According to historical data, spreads for EUR/USD peak at 1.3 pips. When it comes to this broker, a pair of EUR/USD is 1.3 pips, Crude oil WTI spread is 4, and a gold spread is 45.
ICM Capital follows strict rules and guidelines set but the European authority ESMA since it is regulated by UK. The European regulator set a limit on the maximum leverage offered. ESMA believes there is a potential risk of using high leverage while trading. Therefore clients of ICM Capital can use leverage up to 1:30 for forex products, 1:10 for commodities, and 1:5 for CFDs.
Deposits and withdrawals
Traders can use card payments, e-wallets, and bank transfer to withdraw funds. This money is active in the clients’ accounts after 24 hours. ICM has also announced the use of the ICM Mastercard which you can use to transfer funds from any profits from the clients trading account. The minimum deposit amount is $200, which is great as it allows clients to start with small amounts.
The withdrawal fee depends on which payment method you use. If your deposit is above $500 and you are using a bank transfer, the broker will cover the transfer fee. When it comes to withdrawals, the company covers fee expenses.
MT4 is a very professional platform. It has powerful analysis and modeling tools and is suitable for all devices including Mac, PC, mobile, or even tablet. Every client can make use of expert advisor in the terminal ad gain benefit from it. The modeling tools are also very powerful in MT4. You are also allowed to analyze and trade in the automatic mode.
ICN Capital provides its clients with a customer support team. They can be reached through telephone, email, and live chatting for beginners and traders of higher level. This team supports various languages to ensure convenience for its clients. This customer service is award winning and the customers’ think highly of it.
An education center has also been designed for traders of all levels to assist clients with the continuous growth in the forex market. The broker also holds interactive competitions and contests to motivate clients by handing out valuable prizes to them.
Overall, ICM Capital is a very well regulated broker with positive reviews and several awards proving its authenticity. It makes use of latest technology to provide the best trading experience. This broker is considerate to its clients, which is also why they have a minimum deposit fee of just $2oo, while most other brokers charge $500. To add, this broker upholds insurance of $1 million coverage.