July 11, 2020

IC Markets Review 2020 – Is IC Markets Scam?

icm funding review

Regulators: FCA

Cryptocurrencies: YES

Minimum Deposit: $200

Maximum Leverage: 1:30

Spreads: Low

My Score: 5.9

Hello everyone! It really is Valentin again with you. I shall introduce one to ICM Capital today. ICM Capital is a Forex and CFD broker located in London.

The broker has its own representative offices in Dubai and China. The business behind this broker is ICM Capital Limited. ICM Capital Limited is a wholly-owned subsidiary of ICM Holding SARL, enrolled speech: 12-1, Avenue De La Faencerie, L-1511 Luxembourg.

In this ICM Capital review, you’re going to have the ability to own the answers to those questions. Can be ICM Capital scam or dependable forex broker? What are the accounts sorts of this broker? What are the trading requirements such as spreads, leverage, and minimal deposit? Why is ICM Capital governed?

Regulation of ICM Capital

The very crucial dilemma about forex brokers would be their regulations. There certainly are a high number of brokers using too little regulation. Luckily, ICM Capital isn’t one of them.

ICM Capital Limited is authorized and regulated by the Financial Conduct Authority (FCA) Register Number: 520965 in the UK.

icm capital regulation

The FCA regulates the financial services industry in the United Kingdom, with the aim to protect consumers, ensure the industry remains stable and promotes healthy competition between financial services providers.

ICM Capital is solely regulated by the FCA in respect of its conduct and prudential obligations. The FCA is responsible for making the rules and regulations which govern the Financial Services Industry in the UK. Firms providing financial services in the UK are authorized and regulated by the FCA.

To obtain a license from the FCA, UK-based brokers must hold a minimum of 730 000 net tangible stocks in order to prove their financial stability. The brokers must keep all clients’ money split by the employer’s own funds into segregated accounts.

In addition, there is a compensation scheme for clients. The broker offers its clients the security of client fund security under the Financial Services Compensation Scheme (FSCS) covering up to 50,000 in the event ICM Capital becomes insolvent.

To go above and beyond expectations ICM Capital has enhanced this to offer additional security up to 1,000,000 in the event that ICM Capital becomes insolvent.

Account Types and Spreads

ICM Capital offers its clients only one trading account. It is the ICM Direct account type. This account type has a $200 minimum deposit requirement.

Spreads are variable from 1.3 pips on EUR/USD. Minimum Lot Size is 0.01 of a Standard Lot. The maximum leverage is 1:30 on major currency pairs.

ICM Capital offers Islamic accounts to clients following the Muslim faith. Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

Trading Platforms

ICM Capital provides its clients with two trading platforms. These are MetaTrader 4 (MT4) and cTrader. ICM Capital’s online trading platforms are reliable, fast, and easy-to-use.

The broker offers its traders the opportunity to profit from rapid execution and professional trading conditions in an environment of fairness and transparency.

MetaTrader 4 is still the most popular trading platform. The MT4 has great features such as Expert Advisors (EAs) capability, advanced chart tools, various technical analysis. It is available for both iOS and Android platforms.

The trading platform is downloaded from this ICM Capital website securely to your PC. There is also a web terminal option for the platform.

The MetaTrader 4 Web Trader terminal allows you to trade via any operating system (Windows, Mac, and Linux) and from any web browser. No download or installation is required meaning you can access your account and start trading in just a couple of clicks.

Trading Instruments

ICM Capital’s online trading account MetaTrader 4 provides traders with access to major online trading products, including Foreign Exchange (Forex) and CFD Contracts on Oil (WTI & Brent), Indices, Silver and Gold.

The broker offers also cryptocurrency trading. While there’s a huge number of cryptocurrencies CFDs available, ICM Capital offers to trade on the most popular: the Bitcoin.

Payment Methods

ICM Capital offers various deposit and withdrawal methods such as bank wire and debit/credit card (Visa, American Express and MasterCard), e-wallets Skrill & Neteller ICM Capital Prepaid MasterCard.

The broker has partnered with MasterCard meaning you are now able to enjoy the profits of MasterCard and its international payment network in over 200 countries worldwide.

When using the ICM Capital Prepaid MasterCard card you can select for your Card to be issued in any of the following currencies USD, EUR, GBP.

Conclusion

ICM Capital is duly-regulated forex and CFD broker. The broker is regulated by the UK’s FCA, one of the most reputable watchdogs.

The broker offers competitive trading conditions. But, there is only one trading account. Payment methods are not limited but there should be more options such as PayPal and Bitcoin.

If you didn’t enjoy this broker gives it’s possible to discover a far better broker in my very best forex brokers list. You are also able to have a look at the pros and cons of the broker within the table underneath.

IC Markets

5.9

Trust

6.0/10

Commissions and charges

7.0/10

Customer Service

4.0/10

Platform & Tools

6.5/10

Product Portfolio

6.0/10

Pros

  • Regulated by FCA
  • MT4 endorsed
  • No commission charges

Cons

  • Payment approaches are restricted
  • No Selection of trading platforms
  • Account forms are restricted