Independent Review - ICM.com
ICM.com also known as ICM Capital (up until 2018) is a UK-based global multi-regulated financial service provider that offers access to a diverse range of trading products for retail and institutional clients, including forex, commodities, stocks, indices, CFDs, futures, and cryptocurrencies.
ICM clients have access to over 5000 different assets available on both the MetaTrader 4 and 5 platforms, cTrader and ICM Securities.
In the following ICM.com review, we will examine some of the broker's most important aspects to determine if it is suitable for your own trading needs.
ICM.com is a global forex and CFD broker committed to quality execution of trades and transparent trade pricing. The broker has been operating since 2009 and was previously known as ICM Capital in the UK before rebranding under ICM.com. The broker's headquarters remain in London, but it also runs offices in 17 other locations worldwide, including Africa, the Middle East, South America and Asia pacific.
With over 5000 assets offered and a choice of four trading platforms, clients are spoiled for choices. Speaking of choices, another one that needs to be made is whether to use the ECN account type with variable spreads, or the Dealing Desk model where the broker provides prices and executions with no spreads and a flat round lot commission.
Overall, everything looks quite solid, and the broker is well regulated, so does that mean they are a good broker for you? That is what you will be able to discover through the rest of this review.
ICM.com is regulated in the UK by the Financial Conduct Authority with register number 520965. In addition, UK based clients are protected for up to £85,000 in losses in the event of broker bankruptcy. In addition to the UK regulation, ICM.com is also regulated in Malaysia, Switzerland, Sweden, Qatar, Mauritius, and St Vincent and the Grenadines, which covers its operations in the European Union and globally.
Lloyds of London also insure ICM.com to safeguard its liabilities against clients (including due to errors, negligence and fraud) up to a limit of £5,000,000. This protection is available to all live account holders at no additional cost. And all clients receive negative balance protection to protect against losses that are greater than the capital deposited with the broker.
ICM.com provides two specific account types for its clients. The first is the ICM Direct account, and the other is the ICM Zero account. The primary difference between these two account types are spreads and fees.
The ICM Direct account provides ECN execution with variable spreads that begin at 1.3 pips for EUR/USD. There are no commissions involved in the ICM Direct account. By contrast, the ICM Zero account has lower spreads (from 0.2) spreads.
U.K. and E.U. clients operating under FCA license can benefit from ICM Elective Professional account that offers a flexible leverage of up to 1:200.
Professional account: This account is for clients in the European Union. It is based on each individual trader's eligibility and is determined through trading experience, financial job experience, or financial portfolio size. If approved as a professional trader, the leverage available increases to 1:200 (FCA), and the trading conditions improve as well.
There are also demo accounts available to test the trading conditions and new trading strategies. However, these demo accounts do expire in just 30 days. There is also the option to have a swap-free account for Muslims who need to comply with Sharia law.
The broker provides its customers with access to over 5000 financial instruments:
- 42 Spot FC CFDs
- 2 metals (Gold and Silver)
- 9 Cash Indices
- 5 Futures FX CFDs
- 3 Energy Futures CFDs
- 2 Energy Spot CFDs
- 800 US Stocks CFDs
- 5000+ Global Equities
- 5 Crypto CFDs
While most brokers offer their clients one, or at most two, trading platforms, here is ICM.com with four different trading platforms available to clients. These include MetaTrader 4, MetaTrader 5, cTrader, and the proprietary ICM securities platform.
Anyone with any trading experience at all already knows MetaTrader 4. It is an award-winning trading platform that has been the go-to for forex traders for nearly 20 years. It remains extremely popular today thanks to its powerful technical analysis capabilities and the ability to auto-trade using the popular Expert Advisors. The MT4 platform is available at ICM.com for Windows PCs, for mobile devices, and as a web-based platform.
MetaTrader 5 was created as the replacement for MetaTrader 4; however, traders still like MT4 so much that both now exist together. MetaTrader 5 is superior when it comes to trading CFDs, and it has enhanced trading capabilities. Diverse order types and mobile trading are two of the strengths to be found with MT5. The MT5 platform is available for Windows PCs and for mobile devices, and as a web-based platform.
The cTrader platform is another popular platform for trading forex or CFDs. It is considered an innovative platform, and it has strong technical analysis capabilities. It is also capable of running forex robots, and many traders like it for that feature alone. cTrader is available for Windows PCs, mobile devices, and as a web-based platform.
The ICM Securities platform is a proprietary platform designed for trading individual company shares. Traders do like the user-friendly design of the platform, which makes trading stocks more convenient. ICM Securities is available for mobile devices or as a web-based platform.
There are a number of methods for making deposits at ICM.com, and all of them are free of any fees or charges. Clients can choose from bank transfers, credit and debit cards, and several e-wallets when making a deposit. Most deposit methods will see funds in the account within 24 hours, while others are immediate.
One of the easiest ways to fund an account at ICM.com is the usage of ICM Mastercard that equips the client with a flexible payment tool allowing to perform both online and offline transactions, without the need of opening a bank account.
Customer service at ICM.com operates Monday through Friday from 6:00 to 18:00 each day. The customer service team is also multi-lingual, and they can be reached via telephone or online chat. There is also a webform that can be used to request a call from the support staff at a time of the client's choosing.
Phone: +44 207 634 9770
Webform: Contact Us Form
ICM.com has been satisfying clients since 2009, winning numerous awards over the years as well. With regulation from several jurisdictions, it has become a go-to for many traders all around the world.
With four different trading platforms available, there is a good choice available for every trader. And the choice of accounts means traders can either take advantage of raw spreads starting at 0 pips or variable spreads with no commissions.
Traders will also be pleased with the included Trading Central, which provides world-class education and research.
The broker's regulatory status is excellent, and the spreads and commissions are competitive in the online broker ecosystem. Considering the good reputation of ICM.com, it is easy to recommend them as a good broker for traders of any experience level.
Labuan FSA, FSC, ARIF
No Dealing Desk
10% Bonus to Cash Reward