ICM Review Summary in 10 Points
Founded	2009
Headquarters	London, UK
Regulation	FCA, FSA, ARIF, FSC, LabuanFSA, QFC and CABs
Market Instruments	Forex, precious metals, stocks, futures, securities, cryptocurrencies CFD
Demo Account	Available
Leverage	1:200
EUR/USD Spread	1.2 pips
Trading Platforms	MT4, MT5, cTrader
Minimum deposit	$200
Customer Support	24/5 live chat, phone, email, WhatsApp or send messages

What is ICM？

ICM, or ICM Capital, is a UK-based online forex and CFD trading provider. It was established in 2009 and is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The company offers trading services in a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies. ICM also provides clients with access to the MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader trading platforms, and offers multiple account types to cater to the needs of different traders.

Pros & Cons

ICM offers several advantages for traders, including the provision of the popular MetaTrader platform and a wide range of tradable instruments across multiple asset classes. The broker is also regulated by reputable authorities.

However, there are some drawbacks, such as limited educational resources and research tools. Additionally, ICM is not available for clients in certain jurisdictions.

Pros	Cons
• Regulated by multiple authorities	• Limited educational resources
• Commission-free trading	• No 24/7 customer support
• Islamic accounts offered	• Limited research tools
• Negative balance protection
• MR4, MT5, cTrader supported

Note: The above table is based on general observations and may not be comprehensive. Pros and cons may vary depending on individual preferences and requirements.

ICM Alternative Brokers

There are many alternative brokers to ICM, each with their own unique features and offerings. Some popular alternatives include:

• eToro: eToro is a well-known broker that offers social trading, allowing traders to follow and copy the trades of other successful traders.

• IG: IG is a broker that offers a wide range of trading instruments, including forex, stocks, commodities, and cryptocurrencies.

• XM: XM is a broker that offers low spreads and competitive pricing, as well as a range of educational resources for traders.

• Plus500: Plus500 is a broker that offers commission-free trading and a range of trading instruments, including forex, stocks, and cryptocurrencies.

• FXTM: FXTM is a broker that offers a range of trading platforms and a variety of trading instruments, including forex, stocks, and commodities.

It's important to do your own research and compare the features, fees, and offerings of different brokers before choosing one that best fits your trading needs and preferences.

Overall ICM Rating

Based on various factors such as trading conditions, customer support, licenses and regulations, educational resources, and overall reputation in the industry, ICM is considered a legitimate broker.

ICM Overall Rating is 8 out of 10 based on our testing and compared to other brokers, see our rating below compared to other alternative brokers.

Broker	Rating (10)	Most notable pro
ICM	8	Strong regulatory framework
eToro	9	Social trading platform
IG	8	Wide range of markets
XM	8	Low minimum deposit
Plus500	7	No commissions
FXTM	8	Good educational resources

Please note that ratings and pros can vary depending on individual preferences and priorities.

Is ICM Safe or Scam？

ICM is a legitimate forex and CFD broker that is regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA), Financial Services Commission of Mauritius, etc. The company also uses advanced security measures to protect clients' funds and personal information.

However, as with any financial service provider, it is always important to do your own research and due diligence before opening an account and investing your money.

How are you protected？

ICM protect their clients with many different protection measures. Specific details can be found in the table below:

Protection Measures	Description
Regulation	FCA, FSC, LabuanFSA, FSA, ARIF, CABs, QFC
Negative Balance Protection	Clients can not lose more than their account balance in the event of a market downturn
Segregated Accounts	Protect clients in the unlikely event of the broker's insolvency
SSL Encryption	ICM's website and trading platforms use SSL encryption to ensure that all client information and transactions are secure
Two-Factor Authentication	As an additional security measure to protect client accounts from unauthorized access

It's worth noting that while these measures can help protect clients, no security measures can completely eliminate the risk of financial loss in trading. It's important for traders to understand the risks involved in trading and to only trade with funds they can afford to lose.

Our Conclusion on ICM Reliability:

Based on the regulatory oversight, client fund protection, and risk management policies of ICM, it can be considered a relatively reliable broker. It is regulated by several reputable financial authorities, and it implements measures to ensure the security of its clients' funds.

However, like any other broker, there are still risks associated with trading, such as market volatility and price fluctuations, which should be taken into consideration. Though these measures can help protect clients, no security measures can completely eliminate the risk of financial loss in trading. It's important for traders to understand the risks involved in trading and to only trade with funds they can afford to lose

Market Instruments

ICM offers a variety of trading instruments across different asset classes, including:

• Forex: ICM offers over 60 major, minor, and exotic currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and many more.

• Precious metals: ICM provides trading opportunities for precious metals, including gold and silver, which are traded as CFDs.

• Stocks: ICM allows clients to trade stocks from some of the world's most popular stock exchanges, including the NYSE and NASDAQ.

• Futures: ICM provides access to futures contracts from various markets, including indices, commodities, and currencies.

• Securities: ICM offers trading in bonds, bills, and notes issued by governments and corporations.

• Cryptocurrencies CFDs: ICM also offers trading in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, as CFDs.

It's worth noting that the availability of trading instruments may vary depending on the jurisdiction of the client.

Accounts

ICM offers two account types: ICM Direct (ECN) and ICM ZERO.

The ICM Direct (ECN) account has variable spreads starting from 1.2 pips and requires a minimum deposit of $200. It also offers a maximum leverage of 1:200.

The ICM ZERO account has spreads starting from 0.0 pips with a commission of $7 per lot traded and requires a minimum deposit of $1,000. It also offers a maximum leverage of 1:200. Both accounts offer access to the MT4, MT5 and cTrader trading platforms.

Leverage

ICM offers leverage up to 1:200 for forex trading. However, the maximum leverage available for other instruments such as indices, commodities, and cryptocurrencies may vary depending on the instrument and market conditions.

It is important to note that while leverage can increase potential profits, it also amplifies potential losses, and traders should use it with caution and employ appropriate risk management strategies.

Spreads & Commissions

ICM offers variable spreads, which means that the spread can fluctuate depending on market conditions. The spread for EUR/USD can start from as low as 1.2 pips on ICM Direct account, while on ICM ZERO account the spread can be as low as 0.0 pips, but with a commission of $7 per lot.

It's important to note that the spreads and commissions may vary depending on the account type, trading instrument, and market conditions. It's always recommended to check the latest information on the ICM website or trading platform.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commissions
ICM	1.2 pips	0
eToro	1.0 pips	0
IG	0.75 pips	0
XM	0.9 pips	0
Plus500	0.6 pips	0
FXTM	1.3 pips	0

Note: Spreads and commissions are subject to change and may vary depending on the account type and trading platform used.

Trading Platforms

ICM offers MetaTrader4 (MT4), MetaTrader5 (MT5), and cTrader as trading platforms.

MetaTrader4 is a widely used platform among traders and offers a range of features such as automated trading and advanced charting tools.

MetaTrader5 is the successor to MT4 and includes additional features such as more advanced trading tools and indicators.

cTrader is a popular platform among ECN traders and offers advanced charting tools, level 2 pricing, and other advanced features.

Overall, ICM's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker	Trading Platforms
ICM	MT4, MT5, cTrader
eToro	eToro Platform
IG	IG Platform
XM	MT4, MT5
Plus500	Plus500 Platform
FXTM	MT4, MT5

Deposits & Withdrawals

ICM offers several deposit and withdrawal options for its clients.

Deposit methods include bank wire transfer, credit/debit card, Skrill, Neteller, FasaPay, and China Union Pay. Withdrawal methods include bank wire transfer, Skrill, Neteller, FasaPay, and China Union Pay.

ICM does not charge any deposit or withdrawal fees, but fees may be charged by the payment provider. Withdrawals are usually processed within 24 hours, but may take longer depending on the payment method.

The minimum deposit amount for ICM Direct account is $200 and for ICM Zero account is $1,000.

ICM minimum deposit vs other brokers

	ICM	Most other
Minimum Deposit	$200	$/€/£100

ICM Money Withdrawal

To withdraw funds from your ICM trading account, you need to follow these steps:

Step 1: Log in to your ICM client portal.

Step 2: Click on the “Withdrawal” button.

Step 3: Select the payment method you want to use.

Step 4: Enter the amount you want to withdraw and fill in any required details.

Step 5: Submit your withdrawal request.

ICM will then process your withdrawal request and send the funds to the payment method you selected. The processing time can vary depending on the payment method and your bank's processing times. It is recommended to check with your payment provider for more information.

Fees

ICM charges various fees that traders should be aware of. Apart from spreads and commissions, there are also some other fees that will be charged.

• Inactivity fee: If an account is inactive for 180 days, ICM charges an inactivity fee of $50 per month.

• Overnight swap fees: ICM charges overnight swap fees on positions held open overnight, which can be either positive or negative, depending on the trading instrument.

• Conversion fees: If traders deposit or withdraw funds in a currency different from their account currency, ICM charges a conversion fee of 2%.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
ICM	Free for most methods, bank wire may incur a fee	Free for most methods, bank wire may incur a fee	$5/month after 180 days of inactivity
eToro	Free	$5	$10/month after 12 months of inactivity
IG	Free for most methods, bank wire may incur a fee	$1.20 per withdrawal	£12/month after 24 months of inactivity
XM	Free for most methods, bank wire may incur a fee	Free for most methods, bank wire may incur a fee	$5/month after 90 days of inactivity
Plus500	Free	$1.3 - $39 depending on the withdrawal method used	$10/month after 3 months of inactivity
FXTM	Free for most methods, bank wire may incur a fee	Free for most methods, bank wire may incur a fee	$5/month after 6 months of inactivity

It is important to note that fees may vary depending on the account type, trading instrument, and market conditions. Traders should always check the latest fee schedule on ICM's website before trading.

Customer Service

ICM offers customer support 24/5 via live chat, phone, email, WhatsApp or send messages online to get in touch.

You can also follow some social networks such as LinkedIn, YouTube, Instagram, Facebook and Twitter.

Pros	Cons
• 24/5 customer support via phone, email, and live chat	• No 24/7 customer support
• Personal account managers for certain account types	• No in-person customer support
• Multilingual customer support	• Limited educational resources on customer support page
• Quick response times to customer inquiries

Note: These pros and cons are subjective and may vary depending on the individual's experience with ICM's customer service.

Overall, ICM's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Conclusion

In conclusion, ICM is a regulated broker that offers a range of trading instruments and account types. The broker has a strong emphasis on customer protection and provides negative balance protection to its clients. Additionally, the broker offers a demo account for traders to practice their trading strategies before investing real money.

ICM offers two account types with different spreads and commissions, and clients can choose between MT4, MT5, and cTrader as their trading platforms. The broker offers multiple deposit and withdrawal options, and fees are relatively competitive compared to other brokers in the industry.

In terms of customer service, ICM has a knowledgeable support team that can be reached through email, phone, or live chat. However, the broker's educational resources could be more extensive to cater to novice traders.

FAQs

What trading platforms does ICM offer？

ICM provides access to popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

What types of accounts does ICM offer？

ICM offers multiple account types to suit different trader profiles:

• ICM Direct (ECN): Offers variable spreads starting from 1.2 pips with a minimum deposit of $200.

• ICM ZERO: Features spreads from 0.0 pips with a commission of $7 per lot, requiring a minimum deposit of $1,000.

How does ICM ensure client fund safety？

ICM adheres to strict regulatory guidelines under its FCA license, providing measures like Negative Balance Protection and segregating client funds from company funds.

What leverage does ICM provide？

ICM offers leverage up to 1:200 for forex trading.

Are there any fees or commissions charged by ICM？

ICM charges variable spreads and commissions depending on the account type. For instance, the ICM Direct account might offer spreads starting at 1.2 pips with no additional commission.

How can I deposit or withdraw funds from my ICM account？

Deposits and withdrawals can be made through various methods including bank wire transfers, credit/debit cards, and e-wallets like Skrill and Neteller.

Registered in	Cyprus
Regulated by	CYSEC
Year(s) of establishment	5-10 years
Trading instruments	Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks
Minimum Initial Deposit	$300
Maximum Leverage	1:30
Minimum spread	0.0 pips onwards
Trading platform	MT4, MT5, own platform TickTrader
Deposit and withdrawal method	Bank Wire Transfer, Credit Card
Customer Service	Email/phone number/address/live chat
Fraud Complaints Exposure	No for now

General information and regulations of FXOpen

FXOpen is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen offers retail and professional trading available markets including forex instruments, indices, commodities, shares through popular MT4 & MT5 trading platform.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Market instruments

Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....FXOpen allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on FXOpen.

Spreads and commissions for trading with FXOpen

The spreads and commissions depend on instruments and accounts. Only ECN account has a commission of 1.5 USD, and its spreads level is also lower.

Account Types for FXOpen

Demo Account: FXOpen provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: FXOpen offers a total of 2 account types: Beginner, Trader, Expert and VIP. The minimum deposit to open both accounts is 300 USD o EUR. Their major differences consist in the business model, spreads, commissions and the access to the markets. The ECN account has a commission of 1.5 USD and a wider range of market access.

Trading platforms offered by FXOpen

As for the trading platform, FXOpen provides its clients with many options. There are public platforms such as MT5 and MT4 that have served many clients worldwide, also FXOpen's own platform TickTrader. If you didn't want to spend time familiarizing yourself with a new platform, you could choose MT5 and MT4. But FXOpen's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.

Leverage offered by FXOpen

The maximum leverage offered by FXOpen is only 1:30, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.

Deposit and withdrawal methods and fees

In terms of deposit and withdrawal, like many good brokers, FXOpen provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. The feasible payment methods are

We noted that for withdrawals with bank transfer, there is a commission of 30 USD/15 GBP/15 USD.

Educational resources

A series of educational resources is available at FXOpen, such as margin and pip value calculator, economic calendar, market news, market pulse, basic knowledge, etcetera.

Customer support of FXOpen

Below are the details about the customer service.

Language(s): English, French, German, Italian, Spanish, Turkish, Chinese, Portuguese, Russian, etcetera.

Service Hours: 9am-8pm (Eastern European Time)

Email: support@fxopen.eu

Phone Number: +357 25024000

Address: 38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus

Social media: Facebook, Instagram, LinkedIn, YouTube, twitter, telegram

Users exposures on WikiFX

We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.

Advantages and disadvantages of FXOpen

Advantages:

Well regulated

MT4, MT5

Sufficient information

Educational resources

Many instruments available

Demo account

Negative balance protection

Disadvantages:

Deposit and withdrawal fees

No copy trading

Frequent asked questions about FXOpen

Is this broker well regulated？

Yes, it is currently effectively regulated by CYSEC in Cyprus.

How much leverage does this broker offer？

The maximum leverage of FXOpen is 1:30. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.