October 3, 2019
ICM Capital - broker-cheater? User feedback and detailed overview of the company

London-based broker ICM Capital has been in existence since 2009. ICM Capital is a subsidiary of ICM Holdings SARL, headquartered in Luxembourg. As early as 2010, the company received a license to operate in the UK from the Financial Conduct Authority.

We have made the most complete review of the broker ICM Capital based on user feedback and verification of key features. 

Broker’s description

Founded in 2009 in England, brokerage office ICM Capital began to provide online services to users, so quickly began to gain momentum, gaining fame among local traders. The favorable conditions and spreads attracted both experienced Forex market participants and newcomers.

On its website, the broker offers everyone to invest with convenience, using a wide range of tools and orders, as well as information and analytics from leading agencies and marketplaces developers with a worldwide reputation. 

License and legal regulation

The financial conduct authority is the regulator of the brokerage company. The broker positions itself as a fairly reliable platform and promises to pay compensation of 50,000 euros under the Financial Services Compensation Scheme in the event of bankruptcy. ICM Capital also undertakes to provide insurance for up to $1,000,000 for one customer from Lloyd’s, an English insurance company.

Complaints and claims

There are claims of users related to the delay in payment of funds and the lack of educational materials on the site. In general, insurance programs and the presence of a license from an international regulator inspires confidence in the activities of a brokerage company.

Lawsuits and the attraction of ICM Capital management to material or criminal liability have not been noted at this stage.

User reviews of the broker

On the main resources of feedback there is a large number of negative comments from traders that the company postpones payments. 

In addition, Russian-speaking users complain about the lack of Russian interface of the site, which in many ways makes it difficult to work with the service. There are few reviews themselves, as most traders have switched from ICM Capital to adapted platforms supporting Russian-speaking clients. 

But there are users who note the good service and reliability of the broker, such about 32% of the total number of commentators. 

Trading conditions of a brokerage company

Broker ICM Capital offers traders to trade currency on the basis of the popular platform MetaTrader 4 from Meta’uotes, as well as cTrader from Sporware Corporation. 

On the site you can read daily photo news and analytics, which complements the full vision of the picture about the news that influences the course of trading. 

Spreads and commission

BC offers traders favorable trading terms for 34 currency pairs and 36 CFDs for several types of assets (including cryptocurrencies), as well as for precious metals and energy.

Broker account types

The company offers traders only two types of accounts: demo and real. The demo account is designed for new traders and testing strategies with virtual currency, which can be spent at your discretion. 

The real one is a currency account with a minimum deposit of $100, which opens access to trading on MT4 and cTrader, as well as analytical and news compilations. 

The minimum spread on the real account is 1.6, the maximum is 6. Leverage can reach 1:400. The minimum lot bet is 0.01.

Whichever currency the trader uses in trading, initially it will be converted to USD.

Shares and bonuses in ICM Capital

Broker ICM Capital does not provide for any bonuses or plans for its users, which is also noted as a lack of the company among competitors.

Trading with ICM Capital

For clients whose real account is recharged by $4,000 or more, the broker offers free use of VPS.

Regarding the methods of execution, it can be noted that the license from the regulator FCA allows ICM Capital to position itself as both an agent and a dealer in the market.

Since 2017, ICM Capital customers have been able to use the CFD trading feature on Bitcoin, but this option is limited due to the set lot bet limit (0.5 per trade).

Trading platforms 

The company offers traders to carry out social trading on the basis of MT4 and cTrader. These are some of the most popular platforms for Forex trading, with the help of which the most reliable brokers carry out their activities. ICM Capital also allows everyone to use additional plug-ins and indicators.

Trading terminals provide 31 drawing graphics, 51 graphics indicators, 7 surveillance lists and a trailing stop order.

Users can install mobile versions of platforms on PCs, smartphones or use the web version.

Training for new traders

As a training tool, ICM Capital offers to open a demo account that can be used to test different tools and trading strategies.

Techsupport Fix Trade

You can contact managers by contact, online chat, email or Skype 24 hours a day, 5 days a week. Many users respond positively about the work of the broker’s technical support service. 

Support managers help to solve all issues, including related to withdrawals and delays, quite quickly. However, there are some reports that the company tried to delay and cancel the payment, and did not withdraw funds at all, citing strange reasons. 

Conclusions 

Given that ICM Capital operates. Focusing on Western traders, Russian-language reviews on the Internet are very few. 

Existing lone negative user comments report attempts to manipulate withdrawals and problems connecting with technical support to clarify the situation. A review of the broker ICM Capital shows that the company, although it does not have clear signs of fraud, but is not popular among traders in the countries of the post-Soviet space.

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