Overall Rating: ★★★☆☆ (3.4/5.0)

iCM Capital is a well-established forex and CFD broker headquartered in the United Kingdom and regulated by the Financial Conduct Authority (FCA). Launched in 2009, it offers a solid selection of forex pairs, commodities, indices, and cryptocurrencies, catering to both retail and professional traders. iCM Capital provides access to MetaTrader 4 (MT4), low minimum deposits, and segregated client funds, making it a viable option for those prioritising safety and regulation. However, the platform’s limited product range, outdated tools, and average pricing place it behind more competitive brokers.

This review breaks down iCM Capital’s features, pricing, regulatory protections, and how it compares to top-tier competitors in 2025.

Key Features

iCM Capital is known for its simplicity, FCA regulation, and MT4 reliability, though it lacks advanced tools or wider platform variety.

• Trading Platforms:
  • MetaTrader 4 (MT4) only – desktop, mobile, and web
• Markets Offered:
  • Forex, commodities, indices, cryptocurrencies
  • Over 50 instruments (limited compared to competitors)
• Account Types:
  • iCM Direct – commission-free, wider spreads
  • iCM Zero – raw spreads with commission
• Leverage:
  • Up to 1:30 (FCA-regulated retail clients)
  • Up to 1:200 for professional clients or offshore accounts
• Minimum Deposit:
  • $200
• Funding Methods:
  • Bank wire, credit/debit cards, Skrill, Neteller, crypto (select regions)

Regulation and Security

iCM Capital’s standout feature is its strong regulatory status in the UK and secure client fund practices.

• Regulated by the Financial Conduct Authority (FCA) – [Licence No. 520965]
• Client funds held in segregated accounts with Barclays Bank UK
• Covered by the UK Financial Services Compensation Scheme (FSCS) up to £85,000
• Strict AML and KYC policies
• Additional offshore entities may operate with higher leverage but lower protection

Pricing and Costs

iCM Capital offers two pricing models – spread-only or raw spreads plus commission, depending on the account type.

• Spreads:
  • From 1.3 pips on standard account
  • From 0.0 pips on Zero account (plus commission)
• Commission:
  • $7 per round lot (Zero account)
• Deposit/Withdrawal Fees:
  • No deposit fees
  • Withdrawals may incur third-party charges
• Inactivity Fee:
  • $25/month after 12 months of inactivity

Pricing is competitive but not market-leading, especially compared to brokers with tighter spreads and lower commissions.

Educational Resources and Customer Support

iCM Capital provides basic educational tools and standard support options, but lacks the depth found with top-tier brokers.

• Education:
  • Webinars, articles, platform guides
  • No structured courses or trading academies
• Market Analysis:
  • Daily insights and trading tools available via MT4
• Customer Support:
  • 24/5 multilingual support via live chat, phone, and email
  • Dedicated account managers for funded accounts

Risk Management Tools

Risk management tools are platform-based and compliant with UK regulatory standards.

• Stop-loss, take-profit, and trailing stops available
• Negative balance protection for retail clients under FCA
• No guaranteed stop-loss orders (GSLOs)
• Margin alerts and stop-out mechanisms built into MT4

Pros and Cons

Pros

• FCA regulation with FSCS protection
• MetaTrader 4 access with stable execution
• Choice between spread-only and raw spread accounts
• Secure client fund segregation
• Trusted broker with over a decade of history

Cons

• Limited product offering and no stock CFDs
• No MetaTrader 5, cTrader, or proprietary platform
• Inactivity fees apply after 12 months
• Not ideal for advanced traders seeking multi-platform integration

Conclusion: Is iCM Capital the Right Choice?

iCM Capital is a reliable and secure broker for traders who value FCA regulation, MT4 simplicity, and straightforward pricing. Its segregated funds and compensation coverage offer peace of mind, but its limited range of assets, lack of modern platforms, and average spreads mean it’s better suited to conservative traders than active, high-volume professionals. For broader offerings and more advanced tools, consider Pepperstone, AvaTrade, or IC Markets.