Detailed ICM Capital Forex Broker Review:
Pretty good exchange in terms of foreign exchange transactions and CFDs, focused mainly on the Western European market, so the most profitable currency pairs here are dollar-pound, dollar-euro, euro-pound, respectively. A large exchange, however highly geared towards local specifics. There are a lot of commodities, however, in terms of modern means of settlement, it is necessary to refine.
General information
| Founded | in 2009, in London |
| Regulation | The office is now a resident of Luxembourg but is subject to British regulatory law, FRN: 520965 |
| Platforms | MT4, cTrader |
| Markets and products | Working with currency pairs, CFD transactions are allowed. |
| Spreads | The average dollar-euro pair is 1.30. On pro accounts periodically drops to 0.9, as verified by experts |
| Minimum deposit | 200 dollars |
| Maximum Leverage | Underestimated compared to most popular UK exchanges |
| Types of accounts | There is a professional account, but more research is needed on the subject of effectiveness |
| Deposits and withdrawal methods | VISA, MasterCard, Paypal, as well as any payment systems authorized in the EU and Britain |
Trading platforms
The standard fourth revision of the MetaTrader has been greatly expanded and supplemented. At ICM Capital, in particular, there are several dozens of options for designing charts, which greatly attracts every experienced trader. There is also a Central Indicator of general business activity, showing current trends and specifications of transactions.
Trading Instruments
Provided traditional forex spot trading. The total number of currency pairs used at the moment is 32. Options for CFDs are 36. In total, there are about three dozen commodities that are subject to active turnover. This is a normal set for any suitable trading platform for one nuance – total ignoring cryptocurrency, which is negative for attracting new technologies.
Commissions, fees, payments
Some aggregators decided to check how much average popular spreads are on average. So, on the base account, the average spread for the most common dollar-euro pair was 1.30 pips. Other statistics turned out to be paradoxical. Suddenly, on pro-accounts, the indicator of the same spread periodically dropped to 0.9. Whether this is due to the mechanics of the platform, bad luck, or whether certain strategies are unprofitable through a professional account, requires additional clarification.
Technical support
British (rather Hindu outsourced). However, for any exchange broker, good financial English is a necessary condition for at least some career in general. There is an impressive list of instant messengers, email and live chat.
Training
ICM does not conduct individual training webinars, which is a minus. In terms of training, the software is also nothing new, since everything is standard. However, modern approaches are used in terms of social trading (which, however, are not fully implemented based on MT4). The essence of them is that some traders themselves share their experience and successful moves with others, thus forming a certain pool of knowledge for beginners and just people who are developing alternative platforms.
Features
The platform clearly emphasizes solidity and a Western European audience. For example, they signed a sponsorship package with the British national team on horseback polo, are the financial partner of London Fulham. This allows us to talk about the site as a multi-million dollar and reliable partner, which is almost guaranteed not to burst.
An entire effective system is offered as investment insurance, with affiliate programs provided by prominent insurance companies. The problem is that these events are local. The most effective level of insurance will be available only to UK tax residents. A useful thing, however, for local markets.
Western surveyors are not particularly generous with ICM. The site is well-known, quite “lively” in the number of players, it serves the world currencies quite correctly. The main software for work is the Metatrader Four, the standard and standard of all brokers. There is no need to retrain and, in principle, no need to spend a lot of time to migrate to the site.
At the same time, the site has a fundamental minus. It consists in the fact that cryptocurrency work is not provided. Absolutely. Even Bitcoin is not traded here. Of course, the tool is relatively new, but still, I would like to see it. Also, transactions in the crypt are reliable both by anonymity and by protecting the transaction itself.
Regarding the traders themselves, they give out the average and slightly higher than average ratings. There are more than ten thousand people at the site, so the sample is quite relevant.
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