Overall, ICM Capital can be summarised as a credible and trustworthy broker with a high overall rating of 8 out of 10. ICM Capital is authorized and regulated by the FSCA and offers leverage up to 1:30.
🛡️ Regulated and trusted by FSCA and FCA.
🛡️ 2325 New traders chose this broker in the last 90 days.
🛡️ Available for South African Traders. 🇿🇦
Min Deposit
USD 200
Regulators
FCA,
FSRA,
FSA,
FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
ICM Capital Review – key points quick overview:
- ☑️ICM Capital Spider Chart
- ☑️ICM Capital at a Glance
- ☑️Overview
- ☑️Safety and Security
- ☑️ICM Capital Sign-up Bonus
- ☑️ICM Capital Minimum Deposit
- ☑️A step-by-step guide to ICM Capital deposit the minimum amount
- ☑️ICM Capital Account Types
- ☑️How to set up an ICM Capital Demo Account – Step by Step
- ☑️ICM Capital Trading platforms
- ☑️ICM Capital Fees and Spreads
- ☑️ICM Capital Deposit and withdrawal
- ☑️Comparison Table – ICM Capital vs Etoro vs XM
- ☑️Customer Reviews
- ☑️Pros and cons
- ☑️Conclusion
- ☑️Disclaimer
- ☑️Risk Management
- ☑️Frequently Asked Questions
- ☑️References
ICM Capital Spider Chart
ICM Capital at a Glance
| 🔎 Broker's Name | 🥇ICM Capital |
| 📍 Headquartered | London, United Kingdom |
| 📅 Year Founded | 2009 |
| ⚖️ Regulating Authorities | FCA, FSRA, FSA, FSCA |
| 🌐 Countries not accepted for trade | United States, North Korea, and several others |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | 200 USD (2 715 ZAR) |
| 💳 Deposit Options | ICM Prepaid MasterCard Bank Wire Credit/Debit Cards Skrill/Moneybooker Neteller PayPal China UnionPay |
| 💳 Withdrawal Options | ICM Prepaid MasterCard Bank Wire Credit/Debit Cards Skrill/Moneybookers Neteller PayPal China UnionPay |
| 💻 Platform Types | MetaTrader 4 (Web, Desktop, Mobile) |
| 📱 OS Compatibility | Windows, Linux, MacOS, Android, iOS |
| 📈 Tradable assets offered | OTC Spot Forex OTC Precious Metals OTC US Stocks OTC Energy Futures OTC Index Futures Cash CFDs |
| 👨💼 Languages supported on Website | English, Hebrew, Chinese, Spanish, German, Portuguese, Thai |
| 👥 Customer Support Languages | Multilingual |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Open Account |
Overview
According to research in South Africa, ICM Capital is a UK broker headquartered in London and operates as a wholly-owned subsidiary of ICM Holding SARL (Luxembourg). Support and operation offices have been established in Dubai and Shanghai and subsidiary offices in 10 locations across Africa, South America, and Asia.
The broker offers products such as OTC Spot Foreign Exchange, OTC Precious Metals, OTC US Stocks, OTC Energy Futures, OTC Index Futures, and Cash CFDs.
Markets are accessible through one account with tight spreads, deep liquidity provided by the Tier-1 Bank, and speedy no-requotes market execution with live Trading Central reports.
Customer support is provided in multiple languages, via telephone, email, and live chat. It also provides an education center with help for traders of all levels.
ICM Capital is focused on compliance with the law and regulation which governs it and the company endeavors to be fair and transparent in all aspects of its business dealings.
The company has the philosophy to develop economic growth and prosperity in countries around the globe. It strives to be proactive in developing the optimal trading environment and creating new value for our customers.
ICM Capital’s vision is to continuously search for ways to add value for its traders and to make certain it never loses sight of the company values and core vision. High standards are maintained, regulation is strict, and complete support is provided with passion and energy.
Safety and Security
As the regulatory status of a broker is key to its trustworthiness, ICM Capital is focused on compliance with the law and ensures its status according to the necessary regulations.
ICM Capital is authorized and regulated by the Financial Conduct Authority (FCA), which regulates the financial services industry in the United Kingdom, with the aim to protect consumers and ensure the industry remains stable.
Being one of the most reputable and sharp authorities within the Financial industry, FCA delivers security of funds provided to the clients under the Financial Services Compensation Scheme (FSCS) covering up to £50 000 in the event ICM Capital becomes insolvent.
ICM Capital enhanced this with the additional protection of up to £1 000 000 backed by substantial global capital and available to all live account clients with no additional cost.
ICM Capital Sign-up Bonus
ICM Capital does not offer a sign-up bonus.
When traders register for either an ICM Direct or an ICM Zero Account, they are not granted either of the following:
❌ Sign-up bonus
❌ Welcome bonus
❌ Deposit bonus
❌ No deposit bonus
These types of bonuses are typically provided to new traders who register a real account for the first time. They are one of the best marketing strategies that modern forex brokers use to draw in more clientele, especially in times of lower trading volumes.
Even though these bonuses and promotions are innovative, and they grant large amounts of trading credit, traders must ensure that they familiarise themselves with the terms and conditions. Traders must also ensure that they qualify for the specific criteria tied to bonuses.
The bonuses that are offered in this category are not cash bonuses, they are credited to the trader’s account as trading credit which can be used towards trading activities, thus traders can take advantage of trading risk-free.
Traders must note that the trading credit cannot be withdrawn until the specific conditions, typically trading volumes, have been fulfilled. In addition, unless otherwise indicated, a demo account will not be considered eligible for bonuses and promotions.
ICM Capital Minimum Deposit
ICM Capital charges a minimum deposit amount of 200 USD (2 715 ZAR).
The minimum deposit amount in USD/ZAR is as per the current exchange rate between the US Dollar and South African rand at the time of writing.
ICM Capital is known for providing comprehensive trading solutions and services to both retail and institutional traders from around the world.
As a security measure, ICM Capital ensures client fund security by keeping client deposits in segregated accounts, separate from the broker account.
A step-by-step guide to ICM Capital deposit the minimum amount
To deposit the minimum amount, traders must ensure that their live trading account has been approved and that they have access to the full suite of features.
Step 1: Log in
Traders can log into their account on the ICM Capital website and navigate to the option to make a deposit.
Traders will be prompted to provide their preferred payment method followed by the amount that they wish to deposit.
Step 2: Choose Deposit Currencies
Traders must also choose between the various deposit currencies and follow any additional steps to confirm the deposit.
Min Deposit
USD 200
Regulators
FCA,
FSRA,
FSA,
FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
ICM Capital Account Types
ICM Capital offers traders two distinct and dynamic account types that can be registered. Each of these account types has its own features and is tailor-made for different traders. The accounts available to traders are:
- ICM Direct Account
- ICM Zero Account
Account Features
📍 Traders should note that there are several features that both the ICM Direct and the ICM Zero Account share, these are as follows:
Minimum deposit from 200 USD (2 715 ZAR)
Both accounts have the same Leverage up to 1:30
Minimum lot size from 0.01 of a standard lot
Access to forex, metals, futures, shares, and Cash CFDs
Absence of a limit on the stop/limit levels for forex and metals
Access to Trading Central
Ability to use Excerpt Advisors (EAs)
Real-time news feeds
Access to Mobile Trading Platforms on either Android or iOS
The assurance that client funds are kept in segregated accounts
Access to all charts as well as trading software and platforms
Free video tutorials
Fifth decimal pricing on all trades
Personalized services presented in more than 16 languages
SMS Updates
The option to convert the account to an Islamic or Swap-free account
Complimentary premium services
Custom trading conditions for professional traders
Market execution at optimal speeds with minimal requotes and low latency
Stop-out level of 50%
Deposit currencies: EUR, USD, or GBP
ICM Direct Account
📍 This account is intended for most traders who have some trading experience, skill, and knowledge. This account type offers the following distinct features:
Variable spreads that start from 1.3 EUR/USD
Commission-free trading on all financial instruments
ICM Zero Account
📍 The ICM Zero Account offers more advanced traders the best possible trading conditions along with the following unique features:
Spreads that start from 0.0 pips EUR/USD
Commissions that start from 7 USD (96 ZAR) per round lot
Islamic Account
The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitative.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
An advantage that ICM Capital offers its traders, especially Muslim traders, is that they can convert either the ICM Direct or the ICM Zero Account to that of an Islamic Account. This allows Muslim traders the opportunity to access competitive trading conditions while being exempted from overnight fees and subsequent interest, prohibited by Sharia law.
Min Deposit
USD 200
Regulators
FCA,
FSRA,
FSA,
FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
How to set up an ICM Capital Demo Account – Step by Step
Setting up a demo account with ICM Capital is an easy process that consists of the following steps:
Step 1 – Open Your Account
Navigate to the ICM Capital official website and select the option to “Open Account” from the homepage.
Step 2 – Fill out the form
An online form will load, and traders can provide their personal details including title, First and Last Name, Email Address, user-selected password (and confirmation), mobile number, country of residence, and preferred contact language.
The trader can select that they have read and agreed to the Privacy Notice before selecting “Finish”.
Step 3 –Select the “Demo” banner
The trader will be redirected to a new page containing their account summary. Here, the trader can select the “Demo” banner to add a new demo account.
The user can select their currency, account type, leverage, and virtual deposit amount before selecting “Create Account”.
To proceed, the user can select the option to download MetaTrader 4 onto their desktop or their mobile device. Alternatively, the trader can opt to use the web platform through which they can access their demo account.
Step 4 – Download MetaTrader 4
To proceed, the user can select the option to download MetaTrader 4 onto their desktop or their mobile device. Alternatively, the trader can opt to use the web platform through which they can access their demo account.
A demo account is often referred to as a practice account, allowing beginner traders to use it to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and developing their own trading strategies.
Demo accounts are not merely intended only for beginners, but they provide more advanced traders the opportunity to explore what the broker has to offer.
Min Deposit
USD 200
Regulators
FCA,
FSRA,
FSA,
FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
ICM Capital Trading platforms
ICM Capital’s trading platforms have been selected according to their importance within the industry and the most balanced trading parameters like speed, reliability, and security. For that reason, clients of ICM Capital can use the popular MetaTrader4.
MetaTrader4 is a highly professional platform that not only allows you to actively trade, it also has powerful technical analysis, charting, and modeling tools.
Clients can also benefit from auto trading using Expert Advisors in the terminal. Those programs are written in MetaQuotes Language 4 and allow you to analyze and trade in the automatic mode.
MT4 is suited for all devices, and the trader can access the trading environment from a PC, Mac, mobile, or tablet.
ICM Capital also offers Trading Central’s technical analysis package and provides it free of charge for live account holders. Trading Central is a global benchmark that provides daily market reports and covers technical analysis for Forex, Precious Metals, and Oil.
ICM Capital Fees and Spreads
ICM Capital Deposit and withdrawal
ICM Capital offers several ways to transfer funds for the client’s convenience. The deposited money will be active in the client’s account within 24 hours, while traders can use bank transfers, card payments, and a range of e-wallets like Neteller, Skrill, China UnionPay, etc.
ICM has also launched its own solution for easy funding, the ICM Capital Mastercard. This enables traders to transfer funds of any size from the client’s trading account easily. Clients can submit an online application for card issuance with a one-time payment fee of $40.
📍 Key features of the ICM Capital MasterCard include:
Free 24/7 online support
Log in any time to check your balance
One card for multiple trading accounts
Connected to your ICM Capital trading account
Accepted in stores and ATM machines bearing the MasterCard Acceptance Mark worldwide
ICM Prepaid Mastercard is now also available to EU residents
The withdrawal or deposit fee varies according to the payment method you choose. The broker will cover the transfer fees for deposits above $500 in case of Bank transfers, while other fees vary for different payment methods.
Visa or Mastercard will include a fee of 1.75%. However, for withdrawals, the company covers the fee expenses for Visa and Neteller options.
The minimum deposit amount that will allow traders to start trading is $200, which allows you to start from an initially small amount.
10 Best Forex Brokers in South Africa for 2025
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Official Site
10 Best Forex Brokers in South Africa for 2025
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Comparison Table – ICM Capital vs Etoro vs XM
| 🔎 Broker | 🥇ICM Capital | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | 200 USD (2 715 ZAR) | $100 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:30 | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Customer Reviews
I had issues with my skrill and that…
I had issues with my Skrill and that caused some delays of about a week in my withdrawal processing but as soon as Skrill sorted out my account the money landed.
Processes went smoothly
Just want to say that I was recommended by a friend to trade with ICMCAPITAL and so far after 3 months all deposits and withdrawals have gone smoothly and hoping to continue trading with them.
The company is so trusted
The company is so trusted, and the company’s employees were super professional and helpful.
ICM has a low spread, no commission, and nice offers.
Pros and cons
| ✅ Pros | ❌ Cons |
| MetaTrader4 | No clients from US and North Korea |
| Multiple regulators | No demo accounts |
| Expert analysis from trading central | Trader education inadequate |
Conclusion
Overall, ICM Capital can be summarised as a credible and trustworthy broker and is considered an average risk with competitive trading fees and spreads.
ICM Capital has an overall trust score of 3.5 out of 5. ICM Capital offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.
You might also like: ICM Capital Account Types
You might also like: ICM Capital Demo Account – Step-by-Step
You might also like: ICM Capital Fees and Spreads
You might also like: ICM Capital Islamic Account
You might also like: ICM Capital Minimum Deposit
Disclaimer
ICM Capital Limited is authorized and regulated by the Financial Conduct Authority (FCA). For further information, please visit the FCA website, using ICM Capital’s Financial Services Register Number: 520965, or company name: ICM Capital Limited.
The FCA regulates the financial services industry in the United Kingdom, with the aim to protect consumers, ensure the industry remains stable, and promotes healthy competition between financial services providers.
ICM Capital is solely regulated by the FCA in respect of its conduct and prudential obligations.
The FCA is funded by the industry that it regulates, and by the fees generated from the Companies it authorizes. They are accountable to the Department of the Treasury and ultimately to the government of the United Kingdom.
The FCA has powers to investigate breaches of its rules and regulations and it has the power of enforcement, to fine and/or prosecute firms and individuals who neglect to follow its rules and regulations in their daily business operations.
FCA-authorized businesses must continuously demonstrate to the FCA that they comply with their statutory objectives rules and regulations with regard to good business practice.
Risk Warning: CFDs and Spot FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.31% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs and Spot FX work, and whether you can afford to take the high risk of losing your money, according to research in South Africa.
Risk Management
ICM Capital is an investment firm that provides online trading services for foreign exchange (FX), bullion, and other financial products. They offer a variety of trading platforms and tools to assist traders in managing their risk while trading.
ICM Capital’s risk management policies and procedures aim to protect their clients’ trading accounts from significant losses. This includes setting margin requirements, implementing negative balance protection, and monitoring market conditions to adjust risk parameters as necessary.
Frequently Asked Questions
What are the advantages of trading with ICM Capital?
All in all, the main advantage of trading with ICM Capital is its trustworthiness and reliability as the platform is regulated by some of the leading tier 1 regulatory authorities including the UK FCA.
Which platforms are supported by ICM Capital?
MetaTrader 4 (Web, Desktop, Mobile)
What type of broker is ICM Capital?
ICM Capital Brokers is a reliable forex trading platform that gives traders access to various types of instruments like shares, cryptocurrencies, indices, CFDs, and many more across several financial markets.
Is ICM Capital a fake or a scam?
No, ICM Capital is not a scam, it is a reliable regulated broker with a top-tier license from FCA for low-risk Forex trading.
What is the overall rating out of 10 for ICM Capital?
The overall rating out of 10 for ICM Capital is 8/10.
References
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