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ICM Capital
Rating: Rated with 2 stars
Binary Option Programs Award
Min. Deposit
Min. Investment
0.01 lot
Regulated Broker

ICM Capital Broker Review

  1. Established in 2009, ICM Capital is a regulated Spread betting, Forex, CFDs broker offering 24 hours access to a broad range of tradable products including foreign exchange, cryptocurrencies, commodities and CFDs. At ICM Capital, traders can choose from the acclaimed MT4 trading platform or the web-based cTrader for rapid order execution with high liquidity, tight spreads, technical analysis and mobile trading. Notably, ICM Capital has a strong customer focus, aiming to provide high quality service in a fair trading environment, and by offering effective and easily understood risk management tools.

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    Conclusion: We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10! Between 74-89 % of retail investor accounts lose money when trading CFDs

    ICM Capital Special Features

    AT ICM Capital the main account is the ICM Direct account available to customers in South Africa and all over the globe. Notably, a Swap-free Islamic account is available on request from customer support. Moreover, professionals can request an ICM Pro account from customer support, as it is configured differently from the Direct account.

    ICM Capital Direct Account

    • Minimum initial deposit $200 or equivalent in USD, EUR, SGD
    • ECN account
    • Maximum leverage 1:30
    • 2:1 maximum leverage for crypto trading
    • Variable spreads from 0.8 pips on EUR/USD
    • 01 minimum lot size
    • Market news from Trading Central
    • Real time news feed
    • Trading to the 5thdecimal
    • SMS updates
    • Personalised customer service in more than 16 languages
    • 50% stop out level
    • Complementary premium customer service
    • Market execution
    • Custom trading conditions
    • Free video tutorials
    • Automated trading with expert advisors
    • Hedging and scalping permitted

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    ICM Capital Demo Account

    Clients can set up a demo account without making a real money deposit to ICM Capital. We recommend the demo account as a practical way to test the tools and features of the trading platform, without risking real money. The ICM Capital demo account is available on the MT4 trading platform and expires after 30 days. However, it can be renewed as often as the trader requires and used at the same time as a live account, for trying out trading strategies and back testing. It’s important to realise that the demo account replicates the same environment as a live trading account, with the same price feeds, features and functionality.

    ICM Capital Credit Bonus

    Customers with an account at ICM Capital can take advantage of the Credit Bonus promotional offer which provides up to 1,000 USD bonus on a trading account. Traders can receive a 10% on every new deposit of $2,000 or more to a live trading account (or the equivalent in other currencies). The bonus is for trading purposes and cannot be withdrawn from the account until the required number of lots described in the terms and conditions have been traded. (the required number of trading lots is between 40 and 200 depending on the size of the credit bonus).

    We were pleased to see that the traded lots are calculated monthly and there is no time limit imposed for fulfilling the required trading volume. Moreover, if the customer should decide to withdraw money from the trading account before completing the trading volume set by ICM Capital, the 10% bonus is removed from the trading account. In our experience, the bonus conditions at ICM Capital are reasonable. However, it’s important to read the terms and conditions of promotional offers carefully before accepting, as they do impact on the ability to withdraw funds from the live trading account at will.

    ICM Capital Trading Software

    Traders in South Africa and around the world, can choose to trade on the award winning MT4 Forex platform or the cTrader, the flagship trading platform solution developed by Spotware systems for CFD and spread betting. Both software brands boast fast trade execution speeds, reliability and security. The instruments available for trading are Forex, metals, futures, shares, cash CFDs, crypto CFDs. Deep liquidity is provided from tier-1 banks.

    ICM Capital MT4 Platform Features

    • MT4 available for download to desktop
    • MT4 WebTrader for trading on PC and Mac without download
    • Free MT4 mobile apps for Android and iOS powered devices
    • Trade Forex, precious metals and CFDs
    • Expert Advisors capability for automated trading
    • Advanced charting packages
    • 30 technical indicators
    • Back testing facilities


    ICM Capital cTrader Platform Features

    • Web based trading platform
    • Depth of market (level 2) pricing
    • Detachable charts
    • Automated trading on a dedicated platform
    • New generation user interface and charting techniques
    • Extensive back testing facilities


    ICM Capital Customer Support Information

    ICM Capital provides 24/5 customer support through the live chat helpline on the interface, an email address and a UK phone number. Whilst the broker provides financial services across the globe, the website is available in English only, and the live support is also in English. We had hoped that an award- winning brokerage, lauded for its superb customer support, would have included more innovative contact methods such as Skype and WhatsApp. Many brokers offer a free call back service, especially convenient for customers in South Africa as phoning the UK with an enquiry is expensive.

    Additional support in Forex and CFD trading is provided by ICM Capital through the Education Center on the website.  Furthermore, a FAQs page provides some basic information to customers about trading conditions at ICM Capital.

    ICM Capital Payment Methods

    Customers can choose from several secure payment methods to fund their ICM Capital trading accounts. The payment methods include popular credit/debit cards, bank wire transfer, China Union Pay and Neteller. However, clients in South Africa may be offered some local payment methods when they register a live trading account with ICM Capital.

    It’s worth noting that the minimum initial deposit is $200, and the maximum daily deposits are determined by the payment method chosen by the customer. Nevertheless, ICM Capital caps deposits from individual customers at $20,000 a day, a generous amount in our opinion, that should suit most traders.

    We were pleased to see that there are no limits on withdrawals from trading accounts but ICM Capital has a complex fees schedule for deposits and withdrawals, depending on the payment method used by its customers. In some cases, clients can avoid paying fees on withdrawals. We recommend that customers read the withdrawal instructions attentively to see whether they qualify for free global withdrawals.

    • Visa and Mastercard deposits pay a 1.35% fee
    • ICM pre-paid cards pay 1.75% on deposits and 1.95% on withdrawals
    • For China Union Pay, traders pay 1.5% on deposits and $5 on withdrawals
    • Neteller deposits pay a 2.5% deposit fee + transaction fee of $0.29 + country surcharge fee of 1%
    • Neteller withdrawals are free of charge
    • Skrill deposits pay a deposit fee of 1.9% + transaction fee of $0.32 + country surcharge fee of 1%
    • Skrill withdrawals pay a transaction fee of 1% with a minimum of $0.49 and a maximum fee of $10 per transaction
    • Bank wire transfers pay 0% deposit fees and a $15 withdrawal fee


    Notably, withdrawal requests are processed within one day, but may take between 3-5 working days to appear in customers’ accounts, depending on the payment method. In compliance with money laundering regulations, ICM Capital is obliged to return funds by the same method used to deposit and to the same source.

    ICM Capital is owned by ICM Capital Ltd, a company authorised and regulated by the UK Financial Conduct Authority under the registration number 520965. The registered address is Dauntsey House, 4B Frederick’s Place, London EC2R 8AB. ICM Capital Ltd is a wholly owned subsidiary of ICM Holding SARL, 121, Avenue de la Faiencerie, L-1511 Luxembourg. Notably, ICM Capital maintains an insurance policy that would award clients with up to £1 million, in addition to the £50,000 payable from the UK’s Financial Services Compensation Scheme, in case of the company becoming insolvent.

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    Conclusion: We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10! Between 74-89 % of retail investor accounts lose money when trading CFDs