ICM Capital review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of ICM Capital, scored 6.1 out of 10 across regulation, fees, platform, support and reviews.

ICM Capital is not one company but a cluster of entities trading under a shared brand. The pages we fetched from icm.com show ICM Capital Limited licensed in Mauritius, ICM Limited licensed in Abu Dhabi, ICM Mena Securities and Financial Products Promotion L.L.C licensed in Dubai, and ICM House AG in Zurich acting as an “independent representative” that processes card payments and holds ARIF membership. Our earlier review states the group was founded in 2009 and is headquartered in London, but no page currently fetched from icm.com names a founding date or a London headquarters, and every URL we tried for an About Us or company page (/about, /about-us, /company, /company/about, /about/company) came back empty or 404. That gap matters for a reader trying to work out which company actually stands behind their account.

Overview Table

Facts List

• The FSC Mauritius Online Public Register confirms ICM Capital Limited holds an SEC-2.1B Investment Dealer licence, effective 30/01/2019, though the register publishes the licence type and date rather than the licence number the firm quotes.
• The ADGM FSRA Public Register confirms ICM Limited holds Financial Services Permission number 210045, status Active, dated 2022-10-12.
• The UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C as CP-0001556, status Active, listed since 2025, though the register uses that CP code rather than the Category 5 licence number the firm quotes.
• The FCA register shows FRN 520965 is held by ICM Capital Limited but records its status as “No longer authorised” as of 02/04/2026, which contradicts the “regulated” status an earlier review attributed to this FCA licence.
• The Seychelles Seychelles capital markets register register lists ICM Capital Limited as a regulated securities dealer.
• We searched 1,441 warning-list entries mirrored from CYSEC, the FCA and FSC Mauritius, and ICM Capital appears on none of them; that check covers only the lists we mirror, not every regulator worldwide.
• The firm’s own Deposits & Withdrawals page states credit card deposits carry no cost to the client (“ICM bares all costs for clients who deposit via credit card”), but card withdrawals are capped at the amount originally deposited by that card.
• The firm’s own Account Overview footnotes state an admin fee applies after 14 days for FX positions and 5 days for Metals positions, which conflicts with an earlier review’s statement that no inactivity fees apply to dormant accounts.
• The firm’s own Deposits & Withdrawals page states third-party deposits are rejected and returned to the original source under its anti-money-laundering policy.
• Support contact points differ by entity: support@icm.com for the global/Mauritius operation, support@icm.ae and a toll-free UAE line for the Dubai entity, and support@icmmena.com for the Abu Dhabi entity, so the office that onboards a client determines which regulator and escalation route applies to them.

Key Takeaways

Regulation: confirmed licences that don’t add up to the whole picture

• The FSC Mauritius Online Public Register confirms ICM Capital Limited holds an SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence, dated 30/01/2019. The register publishes the licence type and date but not a licence number, so the C118023357 the firm quotes is not itself confirmed by the register.
• The ADGM FSRA Public Register confirms ICM Limited (Abu Dhabi) as FSP number 210045, status Active, dated 2022-10-12, a Private Company Limited By Shares. This is the one licence in the set where the register’s own number matches the number quoted.
• The UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C as CP-0001556, status Active, listed since 2025. The register carries a CP code rather than the Category 5 licence number the firm quotes, so again the company is confirmed and the number is not.
• The Seychelles FSA lists ICM Capital Limited as a regulated securities dealer, confirmed.
• The FCA register is where this falls down: FRN 520965 is held by ICM Capital Limited, but the FCA’s own record shows its status as “No longer authorised”, effective 02/04/2026, not the authorised status the number is generally cited to imply.
• Three further numbers an earlier review attributes to this firm, for Qatar Financial Centre, ARIF Switzerland and a Swedish county administrative board, sit outside the five registers we searched directly, so they carry no verdict here either way; that is a gap in what we checked, not a finding about the firm.
• Set against that, we searched 1441 warning-list entries mirrored from the FCA, CySEC and FSC Mauritius, and this firm matched none of them. That is a clean result on the lists we hold, not a clearance from every regulator worldwide.

Fees: what ICM Capital’s own pages charge, and what an older review adds

• The firm’s own accounts page states plainly: “We do not charge any fees for opening trading accounts.”
• The firm’s own fee page states: “ICM bares all costs for clients who deposit via credit card,” so card funding carries no deposit fee on the firm’s own account.
• The same fee page warns that international bank transfers are different: Any charges will deduct of the amount that you transfer… we will only credit your account with the funds that we receive, meaning any sending or intermediary bank charge comes out of the client’s transfer, not the firm’s margin.
• An Account Overview footnote sets an admin fee that headline pricing does not show: it applies “after 14 days for FX and 5 days for Metals,” with the amount itself not quantified on the page we read.
• The firm’s own Deposits & Withdrawals FAQ caps card withdrawals: “Credit/Debit card withdrawal amounts are limited to the amount originally deposited using that card(s).” Profit above the original deposit has to leave by a different method.
• The same FAQ rejects any deposit not from the account holder’s own name: “We are unable to accept payments from third party as this violates our Anti-Money Laundering policies. Any third-party deposits will be rejected and returned to the original source.”
• An earlier review, not verified against a current ICM Capital page in our evidence, put numbers on withdrawal costs: a $15 fee per bank wire withdrawal, 1% on Skrill withdrawals, 3% on Neteller withdrawals, 0.5% on Bitcoin withdrawals, and a one-time $50 setup charge on an ICM Mastercard with no annual fee.

Platform: MetaTrader confirmed, cTrader claim doesn’t hold up

• The firm’s own platform pages confirm MetaTrader 4 (in use since 2002, with a Trading Central plugin and free VPS hosting through BeeksFX) and MetaTrader 5 (with added market depth, custom analytics and a built-in economic calendar) on desktop, web and mobile.
• An earlier review describes cTrader and a proprietary “ICM Securities” share-trading platform as also on offer. Neither appears anywhere in the current icm.com platform pages we fetched, which list only MetaTrader 4 and MetaTrader 5. A trader picking this broker specifically for cTrader may not find it there now.

Support: four contact points, four different regulators behind them

• ICM Capital’s contact page lists a global desk (support@icm.com, +44 207 634 9779, WhatsApp +44 7345 195000), a Dubai/MENA desk (support@icm.ae, toll-free 800FOREX, +971 44 294 500) tied to the CMA licence, and a separate Abu Dhabi address (support@icmmena.com) tied to the ADGM licence, alongside a Mauritius office address under the FSC licence.
• Which entity and which regulator actually stands behind a given account depends on which of these offices opened it, since the pages we fetched don’t describe a single unified support or complaints route across all of them.
• An earlier review also lists icmcapital.co.uk contact addresses and phone numbers that don’t match the current icm.com contact page; those older details are left out here as potentially stale.

Terms worth flagging before funding an account

• Card payments run through a separate Swiss entity: the site’s footer discloses that “Card transactions may be processed by the associated independent representative, ICM House AG, with registration number CHE-497.911.976,” meaning a deposit is routed through a company distinct from the regulated broker entity holding the trading account.
• Asia-region accounts are narrower than the general offering: footnote 3 on the Account Overview limits available products there to “Forex, Energy Futures and Precious Metals,” and footnote 6 sets the stop-out level for Asia at 30%, with no equivalent figure disclosed for other regions to compare against.

Licenses & Regulation

ICM operates through several separate legal entities rather than a single regulated company, and the registers we checked confirm three of them while showing a fourth as no longer holding its permission.

What the registers confirm about ICM Capital’s entities

The FSC Mauritius Online Public Register shows ICM Capital Limited holding an SEC 2.1B Investment Dealer licence (Full Service Dealer excluding Underwriting), licensed 30/01/2019. That confirms the company and its permission, though the register publishes the licence type and date rather than a licence number, so the number the firm quotes, C118023357, is not itself confirmed by the register.

The Abu Dhabi Global Market FSRA Public Register shows ICM Limited as Active, with FSP number 210045 matching what the firm quotes, FSP date 2022-10-12, listed as a Private Company Limited By Shares.

The UAE Capital Markets Authority register lists ICM Mena Securities and Financial Products Promotion L.L.C. as CP-0001556, status Active, listed since 2025. Here too the register publishes its own CP code rather than the Category 5 licence number the firm quotes, so the company is confirmed and the number is not.

The Seychelles FSA lists ICM Capital Limited as a regulated securities dealer.

The FCA permission ICM Capital quotes no longer holds authorised status

ICM Capital quotes FCA Firm Reference Number 520965. The FCA register does show that number against ICM Capital Limited, but its status is “No longer authorised,” not authorised, effective 02/04/2026. That is a material gap between what gets quoted and what the register currently records, and it matters more than a routine administrative note because UK FCA authorisation is the strongest of the protections a CFD broker can typically claim.

Separately, we noticed that the regulations page we fetched from icm.com in September 2026 lists only FSC Mauritius, ADGM, the UAE CMA and ARIF Switzerland. It does not mention the FCA, the Seychelles FSA, the Stockholm County Administrative Board or the Qatar Financial Centre, all of which an earlier published review attributed to “ICM Capital.” A reader relying on that earlier review would believe this firm carries tier-1 FCA regulation, which is a stronger claim than what the firm’s own current page states.

Registers we hold no entry for

Three further numbers the firm quotes, or that an earlier review attributed to it, sit outside what we could check. We hold no register entry for the Qatar Financial Centre, so the quoted licence number 00908 has not been checked; that is a gap in our own directory, not a finding about the firm. The same applies to the Stockholm County Administrative Board number 969792-7961, which the earlier review describes only as a “registration number” without saying whether it is a financial services authorisation or a lesser business registration, and to ARIF in Switzerland, number CHE-497.911.976, which the firm’s own site describes as membership in the ARIF self-regulatory organisation for anti-money-laundering supervision of financial intermediaries in Zurich, tied to a separate entity, ICM House AG, rather than a licence to hold client money or deal in investments.

What the warning lists showed

We searched 1,441 warning-list entries mirrored from CySEC, the FCA and FSC Mauritius, and ICM Capital appears on none of them. Before relying on that result we ran a positive control across five registers, searching for a firm known to be listed, so an empty result reflects absence rather than a broken search. That coverage is limited to the three regulators we mirror, not every regulator worldwide.

What was not checkable

Every Terms and Conditions document, Risk Warning and several jurisdiction-specific legal PDFs failed to download or parse during evidence collection for the UK, UAE, Indonesia and Australia versions of the site. That means the clauses that would normally set out liability caps, governing law, unilateral amendment rights and withdrawal terms could not be read at all; the contract terms available to us come only from FAQ snippets and page footers, not the signed client agreement. No “About Us” or company page could be retrieved from icm.com under any of the URLs tried, so no independently verifiable statement of the group’s headquarters, incorporation date or corporate structure could be confirmed from the firm’s own site in our evidence.

How to Trade

ICM Capital’s site lists Forex as “Major, minor & exotic currency pairs,” Commodities as “Gold, Silver, UK Brent Oil & US WTI Oil,” and Stocks as “300+ Stocks – Amazon, Apple, Nvidia & more,” alongside Indices, and Cryptocurrencies described as access to “the top cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin and more.” The site’s markets navigation also lists Precious Metal, Energy Futures and Cash CFDs as separate categories. All of this comes from the firm’s own pages, not a summary of them.

What ICM Capital actually restricts by region

The firm’s own Account Overview carries a footnote reading “(3) For Asia, available products are Forex, Energy Futures and Precious Metals,” which is narrower than the Stocks, Indices and Crypto range advertised generally. A separate footnote on the same page states “(6) For Asia, Stop Out Level is 30%,” a level at which open positions are force-closed automatically. Our evidence does not carry an equivalent stop-out figure for other regions, so a client outside the Asia-facing offering has no published number to compare it against.

Holding a position at ICM Capital

The same Account Overview footnotes state “(4) Admin fees apply after 14 days for FX and 5 days for Metals,” without giving an amount in the pages fetched for this review. That means a position left open past those windows draws a charge that a reader scanning headline spread or commission pricing would not see coming. An earlier review of this broker, which this write-up is rewriting rather than a page we fetched, reported that ICM Capital charges no inactivity fee on dormant accounts. That claim sits alongside the firm’s own admin-fee footnote rather than replacing it; we report both rather than picking one, since the two describe different things (an inactivity fee on a dormant account versus an admin fee on an open position) but a reader could easily conflate them.

Platforms: MetaTrader 4 and MetaTrader 5

The firm’s own platform pages show MetaTrader 4, available on iOS, Android and Web, described as in use “since 2002,” offered with a Trading Central plugin and free VPS hosting through BeeksFX. MetaTrader 5 is presented as the multi-asset platform, with extra market depth, custom analytics and a built-in economic calendar, available on PC, iOS, Android and web. The platforms navigation on every icm.com page fetched for this review lists only these two.

An earlier review of this broker also describes cTrader and a proprietary share-trading platform called “ICM Securities” as available. Neither appears anywhere in the icm.com pages fetched here, including the dedicated platforms pages. We flag the gap rather than resolve it: it may mean the offering has narrowed since that review was written, or that those pages simply weren’t among the pages we fetched this time. A trader picking this broker specifically for cTrader or a separate shares platform should confirm directly with ICM Capital before assuming either is still on offer.

Account types and execution, as reported by an earlier review

None of the account-tier detail below comes from a page fetched for this review; it is carried over, in our own words, from the earlier write-up of this broker, and should be read as reported rather than confirmed. That earlier review describes an ICM Direct account with a $200 minimum deposit, spreads from 0.7 pips on the majors without commission, and leverage up to 1:200, alongside an ICM Zero account with the same $200 minimum and leverage cap but spreads from 0.0 pips and a $7 commission per standard lot traded. Both are described as running on MT4, MT5 and cTrader, though as noted above, cTrader itself does not appear in the platform pages fetched for this review. A demo account, pre-loaded with virtual funds and mirroring the instruments and platforms of the live accounts, is also described.

Money in and out of a position at ICM Mastercard-funded accounts

The firm’s own deposits and withdrawals page states a card-specific rule: “Credit/Debit card withdrawal amounts are limited to the amount originally deposited using that card(s).” In practice this means profit generated on a position cannot be pulled back out to the funding card beyond the original deposit; anything above that has to move through a different withdrawal method, which adds a step and potential delay for a trader closing out a profitable run. The same page discloses that card payments “may be processed by the associated independent representative, ICM House AG,” a separate Swiss entity from the regulated broker entity holding the trading account, and that depositing by card means agreeing the payment is routed through that third party.

Regulatory backing for the trading entity used

Which regulator actually stands behind an open position depends on which ICM entity the client was onboarded through. The FSC Mauritius Online Public Register confirms ICM Capital Limited as holding an SEC-2.1B Investment Dealer licence, dated 30/01/2019. The ADGM FSRA Public Register confirms ICM Limited in Abu Dhabi under FSP number 210045, status Active. The UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C. as CP-0001556, status Active. Set against those, the FCA register shows FRN 520965, held by ICM Capital Limited, as “No longer authorised” rather than Authorised, which contradicts the FCA licence number the firm’s older material quotes. A trader routed into a UK-regulated account on the strength of that older figure is not covered by an active FCA authorisation according to the register itself.

Account Types

Two accounts turn up in our evidence, both from our earlier review rather than from any icm.com page fetched for this catalogue: ICM Direct and ICM Zero. That review gave both a $200 minimum deposit and leverage up to 1:200, on MT4, MT5 and cTrader, though ICM’s own current platform pages list only MT4 and MT5. It reported ICM Direct spreads from 0.7 pips on major currency pairs with no commission, and ICM Zero priced the other way round, from 0.0 pips on majors with a $7 commission per standard lot. The same review also listed a demo account, pre-loaded with virtual funds and running on the same instruments and platforms as the live accounts.

None of that account structure appears on the current icm.com pages fetched for our evidence. What we did read on icm.com is the Account Overview page for the UK entity, and it carries footnotes that qualify what a client on either account actually gets. Footnote 3 restricts clients in the Asia region to Forex, Energy Futures and Precious Metals only, narrower than the Stocks, Indices and Crypto range advertised generally. Footnote 6 sets the Stop Out Level for Asia at 30%, with no equivalent figure disclosed for other regions in the pages we hold, so a reader outside Asia cannot check where their own positions would be force-closed. Footnote 4 adds an admin fee once an FX position is held past 14 days, or a Metals position past 5 days, without stating the amount.

That last point sits beside the earlier review, which says ICM Capital charges no inactivity fee on a dormant account; the firm’s current Account Overview footnote describes a different charge, an admin fee on FX and Metals positions held past those windows. Readers pricing this broker on the strength of either account tier should treat the $200 minimums, the 0.7-pip and $7-per-lot figures, and the cTrader access as carried over from the earlier review rather than confirmed against a current icm.com pricing page in our evidence.

What ICM Capital’s own pages confirm around the accounts

Opening a trading account itself is free: the firm’s UK Account Overview page states “We do not charge any fees for opening trading accounts.” Card deposits are free too, per the fee page for the UAE entity, which states “ICM bares all costs for clients who deposit via credit card.” Card transactions also carry a disclosure worth reading before choosing a funding method: “Card transactions may be processed by the associated independent representative, ICM House AG, with registration number CHE-497.911.976,” meaning a card deposit is routed through a separate Swiss entity rather than staying inside the regulated broker entity holding the trading account. The same fee page also caps card withdrawals at the amount originally deposited by that card, so profits above the deposited amount have to leave by another method.

The instrument range that sits behind these accounts, per the firm’s own site, spans Forex majors, minors and exotics, Commodities including Gold, Silver, UK Brent Oil and US WTI Oil, 300+ Stocks, US and European stock Indices, Cryptocurrency CFDs, plus separate Precious Metal, Energy Futures and Cash CFD listings in the site’s own markets navigation. None of the fetched pages breaks out per-account pricing or minimum deposits for that range, which is why the figures above are marked as carried over rather than confirmed.

Negative Balance Protection

The clearest rule in our evidence about how a losing position gets shut down comes from a footnote on ICM Capital’s own Account Overview page, not from a risk-disclosure document. Footnote (6) reads: “For Asia, Stop Out Level is 30%.” That is a forced-closure trigger: once equity against margin used falls to that level, the firm closes the position automatically rather than waiting for the client to top up or close it manually. The same footnote list gives no equivalent figure for any region outside Asia, so a client trading under a non-Asia entity cannot check our evidence for the stop-out level that applies to their own account.

What ICM Capital’s own page does and does not say about losses

The same Account Overview page carries a second footnote relevant to how a losing or dormant position costs money over time: footnote (4) states “Admin fees apply after 14 days for FX and 5 days for Metals.” That is a holding charge triggered by time rather than by drawdown, but it sits on the same page as the stop-out rule and affects the same open positions. Beyond these two footnotes, the account and platform pages we fetched from icm.com do not address negative balance protection, margin call thresholds, or what happens to a client’s account balance if losses exceed the level covered by the stop-out. We are not in a position to say the firm offers no such protection; we can only say that the pages we fetched do not describe one.

Leverage terms behind the drawdown math

An earlier published review reports that both the ICM Direct and ICM Zero account tiers carry leverage up to 1:200. That figure did not come from any icm.com page fetched for our evidence, so we are restating it as what the earlier review found rather than as the firm’s own current wording. Leverage of that size sets how quickly a given price move consumes margin and pushes an account toward whatever stop-out level applies, which makes the missing non-Asia stop-out figure more consequential: a trader cannot map that leverage onto a forced-closure point outside the Asia-region terms using anything in our evidence.

What we could not verify

Our evidence notes that every Terms & Conditions document, Risk Warning, and several jurisdiction-specific legal PDF failed to download or parse during evidence collection for the UK, UAE, Indonesian and Australian versions of the site. That matters specifically for this section: the clauses that would normally set out negative balance protection, liability caps, and what happens to a client’s account if losses run past available margin are the kind of terms that live in a signed client agreement or risk disclosure, not in an account-overview footnote. None of that document text was available to read, so the contract terms recorded here come only from FAQ snippets and page footers, not from the client agreement itself.

We also checked the entities this broker currently names against public registers. The FSC Mauritius register confirms ICM Capital Limited holds an SEC-2.1B Investment Dealer licence dated 30/01/2019, the ADGM FSRA register confirms ICM Limited with FSP number 210045 as Active, and the Seychelles FSA lists ICM Capital Limited as a regulated securities dealer. The FCA register shows a different picture for the FRN an earlier review attributes to this firm: FRN 520965, held by ICM Capital Limited, carries the status “No longer authorised” rather than Authorised, effective 02/04/2026. We searched 1,441 warning-list entries mirrored from the FCA, CySEC and FSC Mauritius and found no match for this firm on any of them, which is a clean result but covers only those three lists.

Trading Instruments

ICM.com’s own pages in our evidence describe a wide markets list rather than a narrow forex shop. The current site names Forex (major, minor and exotic currency pairs), Commodities (Gold, Silver, UK Brent Oil and US WTI Oil), Stocks (300+ Stocks, Amazon, Apple, Nvidia and more), Indices (“US and European stock indices”), and Cryptocurrencies (“the top cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin and more”). The site’s own MARKETS navigation lists Precious Metal, Energy Futures and Cash CFDs as further categories, so the range extends past the five headline groups described on the homepage.

What ICM Capital’s account footnotes narrow down

The firm’s own Account Overview page carries a footnote that cuts against the breadth advertised on the homepage: for clients in the Asia region, the available products are limited to Forex, Energy Futures and Precious Metals only, leaving out Stocks, Indices and Crypto. A reader in that region who came to the site expecting the full list advertised generally would find a smaller set once an account is opened. The same footnote set also states that admin fees apply on held positions after 14 days for FX and 5 days for Metals, a cost tied to instrument type that does not appear on the headline spread or commission pages.

Where the account tiers and platform claims come from

The two account tiers named in our evidence, ICM Direct and ICM Zero, and the platform list attached to them (MT4, MT5 and cTrader), are restated from our earlier review rather than read directly from a currently fetched icm.com page. On the platforms actually fetched for our evidence, ICM’s PLATFORMS navigation and dedicated platform pages show only MetaTrader 4 and MetaTrader 5. MT4 is described as in use since 2002, available on iOS, Android and web, paired with a Trading Central plugin and free VPS hosting through BeeksFX; MT5 is described as a multi asset platform with added market depth, custom analytics and a built in economic calendar, available on PC, iOS, Android and web. Neither cTrader nor a proprietary “ICM Securities” share trading platform, both named in the earlier review, appears anywhere in the pages fetched for our evidence. A trader who chose this broker specifically for cTrader or for a dedicated shares platform may not find either currently on offer.

Where regulatory scope narrows what can actually be traded

Which instruments a client can reach also depends on which entity opened their account, and that entity is set by regulator. The FSC Mauritius register confirms ICM Capital Limited as an SEC 2.1B Investment Dealer, the ADGM FSRA register confirms ICM Limited under FSP number 210045, and the UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C under a Category 5 licence. None of these three confirmed entries states which specific instrument classes each licence permits that entity to offer, so the Asia footnote above is the clearest documented case in our evidence of a licence-linked or region-linked cut to the tradable list. Separately, the FCA register shows FRN 520965, held by ICM Capital Limited, as no longer authorised rather than authorised, which matters for a UK-based trader weighing which entity and which protections stand behind an order placed on this broker’s markets.

A sanctioned-countries restriction with no published list

ICM’s own site states plainly that “ICM.com does not offer services to residents of sanctioned countries,” but no specific country list accompanies that line on the pages fetched for our evidence. The earlier review reports separately that it checked icmcapital.co.uk’s homepage, legal, terms and legal documents pages and likewise found no published restricted country list, and that an older version of that same review had carried a list of prohibited countries which it removed once it could not source that list to anything the broker itself publishes. Both point the same way: a resident cannot currently check against the firm’s own materials which countries the restriction covers, only that it exists.

Education & Analysis

ICM’s platform lineup, on the pages our evidence could fetch, is MetaTrader 4 and MetaTrader 5. The MT4 page describes the platform as in use since 2002, available on iOS, Android and web, and paired with a Trading Central plugin and free VPS hosting through BeeksFX. The MT5 page describes a multi asset platform with extra market depth, custom analytics and a built in economic calendar, available on PC, iOS, Android and web.

What ICM Capital’s platforms page does not show

The current icm.com PLATFORMS navigation and the dedicated platform pages in our evidence list only MetaTrader 4 and MetaTrader 5. An earlier published review of this broker, which we are restating here rather than quoting since we did not read the document ourselves, describes cTrader as offered alongside MT4 and MT5, and separately describes a proprietary share trading platform called ICM Securities. Neither appears anywhere in the fetched icm.com pages. A trader picking this broker specifically for cTrader’s order execution style, or for a dedicated shares platform, may find neither currently available and should check directly with the firm before assuming either is live.

Analysis tools bundled with the accounts

The MT4 page bundles a Trading Central plugin and free VPS hosting via BeeksFX alongside the platform itself, and the MT5 page’s own extras, market depth, custom analytics and a built in economic calendar, sit inside the platform rather than as separate tools. Nothing in the fetched pages describes a standalone research portal, signal service, or in house analysis product beyond what these two platforms carry natively.

Instruments available to trade on these platforms

The firm’s own pages describe forex as major, minor and exotic currency pairs, commodities as gold, silver, UK Brent oil and US WTI oil, and a stocks offering the site calls “300+ Stocks, Amazon, Apple, Nvidia & more” under the nav label US Stocks. Indices are listed as US and European stock indices under the nav label Indices Futures, and cryptocurrency CFDs are described as covering “the top cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin and more.” The contact page’s markets navigation separately lists Precious Metal, Energy Futures and Cash CFDs as distinct categories. None of the pages we fetched state which of these instrument classes are actually tradable through MT4 versus MT5, or through any third platform, so a reader weighing platform choice against instrument coverage cannot resolve that from what we fetched.

A narrower offering for Asia region clients

The firm’s own Account Overview carries a footnote stating that for Asia, available products are Forex, Energy Futures and Precious Metals, footnote 3 on that page. That is narrower than the instrument range described elsewhere on the site, which also covers Stocks, Indices and Crypto. A trader onboarded under the Asia facing offering would not get the full instrument list advertised generally, regardless of which MetaTrader platform they trade on.

What our evidence could not confirm

Every Terms and Conditions, Risk Warning, and jurisdiction specific legal PDF failed to download or parse during evidence collection for the UK, UAE, Indonesia and Australia entities. That means any platform specific terms, such as execution policy, slippage handling, or a right to change available instruments, could not be read at all here. What is reported above comes only from the platform pages and account footnotes that did load, not from a client agreement.

Special Offers

None of the pages fetched for this review, the account overview, the fee pages for the UAE or GB entities, or the platform pages, describes a promotions or bonus offer directly: nothing in that material describes a deposit bonus, a welcome credit, a cashback scheme, a referral reward or a trading-volume rebate tied to a promotional offer. The site-wide navigation on the account overview and platform pages does include a “Promotions” menu item, but the page behind that link was not itself among the pages fetched for this review. That is a statement about what the fetched pages say, not a claim that ICM runs no such thing anywhere; the linked Promotions page, a marketing microsite, or a regional landing page outside what was fetched could carry one, and this review has not seen it.

What the ICM Direct and ICM Zero pages describe instead

Where the evidence does describe pricing, it is structural rather than promotional. The account information in our evidence, drawn from an earlier published review rather than a page fetched for this write-up, describes ICM Direct as a $200-minimum account priced through spreads from 0.7 pips on major pairs with no separate commission, and ICM Zero as the same $200 minimum priced through spreads from 0.0 pips plus a $7 commission per standard lot. None of that is a time-limited offer; it is the ordinary cost structure the account carries every day it is open, and it is worth restating here only because a reader hunting for “special offers” needs to know the firm’s own current pages, as fetched, do not describe one and this is what is on record instead.

The admin fee that functions like the opposite of a bonus

The one condition in the evidence that changes cost based on account behaviour is not a reward for activity but a charge on positions held open. ICM’s own Account Overview page, footnote 4, states that admin fees apply after 14 days for FX positions and after 5 days for Metals positions. The earlier published review this section draws on reported that ICM Capital charges no inactivity fee on dormant accounts. The two describe different things, a fee on an open position against a fee on a dormant account, so they do not contradict each other, but a trader weighing whether holding a position for two weeks costs anything should rely on the admin-fee footnote on ICM’s own current page rather than the older review’s reassurance.

Payment-side terms with no promotional angle

ICM’s own fee page for the UAE entity states plainly that “ICM bares all costs for clients who deposit via credit card,” which removes a deposit fee rather than adding a reward on top of one. The same page states that for international bank transfers any charges will deduct of the amount that you transfer… we will only credit your account with the funds that we receive, meaning the client absorbs whatever the sending or receiving bank charges rather than ICM covering or matching it. Neither of these is framed on the page as a promotion; they read as standing fee policy. The earlier review’s figures for e-wallet and Bitcoin withdrawal fees, a 1 percent Skrill withdrawal fee, a 3 percent Neteller withdrawal fee, and a 0.5 percent Bitcoin withdrawal fee, likewise describe standing cost rather than any limited-time waiver or cashback tied to those methods.

Why this matters for ICM Capital specifically

Because the regulation score here sits at 5.3, with the FCA register showing FRN 520965 for ICM Capital Limited as “No longer authorised” rather than the authorised status an older review attributes to the firm, a reader has more reason than usual to weigh what is actually confirmed against what is merely inherited from an earlier writeup. The same caution applies to offers: nothing in the fetched ICM pages promises bonus funds, and nothing in the register checks performed here (FSC Mauritius, ADGM, the UAE Capital Markets Authority, the FCA and the Seychelles FSA) touches promotional terms at all, since registers record licensing status, not marketing. A trader who came to this broker expecting a deposit match or a welcome credit will not find one described on the pages ICM currently publishes and this review has read.

Opening an Account

Steps to open an account with ICM Capital

ICM’s own account-overview page states plainly that “we do not charge any fees for opening trading accounts.” An earlier review of this broker described two live account types available at sign-up, ICM Direct and ICM Zero, each carrying a minimum deposit of $200: ICM Direct with spreads from 0.7 pips on major pairs and no commission, ICM Zero with spreads from 0.0 pips plus a $7 commission per standard lot, both offered up to 1:200 leverage. The same source described a demo account, pre-loaded with virtual funds and running on the same instruments and platforms as the live accounts, as available before a client commits real money. We did not test the sign-up form itself, so the figures above rest on that earlier review rather than on a page we fetched.

Which ICM Capital entity actually opens the account

ICM operates as more than one regulated legal entity, and which one takes on a new client depends on region. The FSC Mauritius register confirms ICM Capital Limited holds an SEC-2.1B Investment Dealer licence there, licensed 30/01/2019, though the register publishes the licence type and date rather than a licence number. The ADGM FSRA register confirms ICM Limited in Abu Dhabi holds Financial Services Permission number 210045, status Active, dated 2022-10-12. The UAE Capital Markets Authority register lists ICM Mena Securities and Financial Products Promotion L.L.C as CP-0001556, status Active since 2025, under what the firm calls a Category 5 licence. Set against these, the FCA register shows FRN 520965, held by ICM Capital Limited, as “No longer authorised,” not the authorised status an earlier review of this broker had attributed to it. A new client should establish which of these entities, and which regulator, is actually taking them on before funding an account, since the protections attached differ by entity.

Who ICM Capital will not onboard

The firm’s own site states “ICM.com does not offer services to residents of sanctioned countries,” without publishing a list of which countries that covers on the page that carries the statement. An earlier review of this broker separately reported checking the icmcapital.co.uk homepage, legal, terms and legal-documents pages and finding no published restricted-country list there either, and noted that an earlier version of that same review had carried a list of prohibited countries, including Iran, North Korea, Syria and Cuba, that could not be traced to anything the broker itself published, and was removed on that basis. We hold no published list from ICM Capital naming which countries are excluded.

Clients onboarded under ICM’s Asia-facing offering get a narrower account than the one advertised generally. The firm’s own account-overview footnotes limit available products for Asia to Forex, Energy Futures and Precious Metals, leaving out the Stocks, Indices and Crypto CFDs the site advertises elsewhere, and set the stop-out level for Asia accounts at 30 percent, a figure the same page does not disclose for other regions.

Funding the account once it’s open

ICM’s deposits-and-withdrawals FAQ states the firm will not accept money from anyone other than the account holder: “We are unable to accept payments from third party as this violates our Anti-Money Laundering policies. Any third-party deposits will be rejected and returned to the original source.” The same page says card deposits carry no fee (“ICM bares all costs for clients who deposit via credit card”) but caps card withdrawals at the amount originally deposited by that card, so any profit above the deposited amount has to leave the account by a different route. Card payments are also routed through a separate company: a site-wide footer discloses that “card transactions may be processed by the associated independent representative, ICM House AG, with registration number CHE-497.911.976,” and that by paying, the client agrees to that routing through a Swiss entity distinct from whichever regulated broker entity holds their trading account.

Beyond that FAQ and footer text, the Terms & Conditions, Risk Warning, and jurisdiction-specific legal documents for the UK, UAE, Indonesia and Australia sites all failed to download during our evidence collection. That means the identity-verification documents a new client is actually asked to submit, and any conditions attached to accepting the client agreement, cannot be confirmed here from the signed agreement itself, only from the FAQ and footer wording quoted above.

Deposits & Withdrawals

ICM Capital’s own fee and account pages, read directly for this review, cover only part of the money-in, money-out picture; the rest is carried from an earlier review of this firm and is marked as such below, since we did not fetch the pages it describes.

What ICM Capital charges to deposit

The firm’s own fee page states plainly that “ICM bares all costs for clients who deposit via credit card,” so a card deposit carries no fee from ICM Capital’s side. The same page describes international bank transfers differently: Any charges will deduct of the amount that you transfer… we will only credit your account with the funds that we receive, meaning any cut taken by the sending or receiving bank comes out of the client’s transfer before it reaches the trading account, and the amount is set by those banks rather than by ICM Capital. The firm’s account page states “We do not charge any fees for opening trading accounts.” The earlier review this catalogue is rewriting adds that China UnionPay deposits are instant with no fee on either side; that detail was not independently checked against any icm.com page in our evidence.

What ICM Capital charges to withdraw

The withdrawal fees below all come from the earlier published review rather than from a page we fetched, so treat them as reported rather than confirmed against the firm’s current site: a Bank Wire Transfer withdrawal carries a $15 fee per withdrawal, a Skrill withdrawal is charged at 1%, a Neteller withdrawal at 3%, and a Bitcoin withdrawal at 0.5%. The same source gives Skrill and Neteller deposit fees of 1.9% and 2.5% respectively, so on those two e-wallets a client is charged coming in as well as going out. It also reports a one-time $50 setup fee for an ICM Mastercard, with no annual fee attached.

Separately, the firm’s own deposits and withdrawals FAQ, which we did read directly, states: “Credit/Debit card withdrawal amounts are limited to the amount originally deposited using that card(s).” In practice this means profit sitting in the account cannot be pulled back out to the card that funded it once it exceeds the original deposit; anything above that has to go out through a different payment method, which adds a step and potential delay.

Card payments run through a separate Swiss entity

A footer disclosure repeated across ICM Capital’s site states: Card transactions may be processed by the associated independent representative, ICM House AG, with registration number CHE-497.911.976… By making a payment, you acknowledge and agree that the payment for your order may be facilitated by this independent representative. A client paying by card is agreeing to have that payment routed through ICM House AG, a Zurich entity separate from whichever regulated ICM entity holds their trading account, before the funds reach the broker.

Third-party funding is rejected

The same FAQ is direct about who is allowed to fund an account: “We are unable to accept payments from third party as this violates our Anti-Money Laundering policies. Any third-party deposits will be rejected and returned to the original source.” A payment sent from anyone other than the account holder, even a spouse or business partner, comes back rather than being credited, and any fee the sending bank or provider charged along the way is not something ICM Capital’s page says it refunds.

Holding a position costs money over time

ICM Capital’s own Account Overview page carries a footnote reading “Admin fees apply after 14 days for FX and 5 days for Metals,” without stating the amount of that fee anywhere in the pages fetched for our evidence. This sits awkwardly against the earlier review, which says ICM Capital charges no inactivity fee on a dormant account. The two claims describe different things, a holding fee tied to open positions against an inactivity fee tied to a dormant account, but a client relying on the older review’s assurance would not expect the admin fee the firm’s own current page discloses.

Who gets a narrower service

Clients booked under the Asia region get a smaller set of tradable products under the same account structure: the Account Overview footnotes limit them to “Forex, Energy Futures and Precious Metals,” leaving out the Stocks, Indices and Crypto instruments advertised generally elsewhere on the site. The same footnotes set a Stop Out Level of 30% for Asia-region accounts specifically; no equivalent figure for other regions appears in the pages fetched for our evidence, so a client outside Asia cannot use this material to compare how close to zero equity their positions run before being force-closed.

Customer Support

ICM’s contact page lists four differently branded touchpoints rather than one unified helpdesk. The ICM Global entry gives support@icm.com, a phone number at +44 207 634 9779, and a WhatsApp line at +44 7345 195000. The MENA/Dubai entry gives support@icm.ae, a UAE toll free number at 800FOREX (800 36739), and a direct line at +971 44 294 500. A separate Abu Dhabi/MENA address, support@icmmena.com, sits alongside those, and the contact page also carries a web contact form and links to Instagram, Facebook, LinkedIn, X twitter and YouTube. Physical offices are listed in Dubai (Office 205, Building 01, Bay Square, Business Bay), Abu Dhabi (Floor 11, Office 10, Sky Tower, Al Reem Island), and Mauritius (The Cyberati Lounge, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, Ebene).

Which entity actually answers

Each contact point maps to a different regulator: the Mauritius address to the FSC Mauritius licence, the Dubai address to the CMA licence held by ICM Mena Securities and Financial Products Promotion L.L.C, and the Abu Dhabi address to the ADGM FSRA permission held by ICM Limited. That split matters for a complaint, because which legal entity stands behind a given account, and what escalation or compensation route applies, depends on which office onboarded the client rather than on a single “ICM” entity. We could not retrieve any About Us or company page from icm.com under any of the URLs we tried, so we have no current, independently checkable statement from the firm’s own site of how the group’s entities relate to one another.

Hours, and where the two sources disagree

ICM’s homepage states support is available “24/7.” An earlier published review described support hours instead as 24/5, specifically Sunday 10:00 PM to Friday 10:00 PM GMT. We did not test any channel outside stated hours, so we cannot say which of the two is accurate; we simply flag that the current site and the older review contradict each other on whether weekend support exists at all.

Older contact details we did not carry forward

The same earlier review gives contact details under a different domain, icmcapital.co.uk, including support@icmcapital.co.uk, compliance@icmcapital.co.uk, and phone numbers +44 20 7634 9770, +971 4 429 5800 and +44 20 3918 1490. We have left those out of the channels above because they may be stale next to the firm’s current contact page, and a reader trying compliance@icmcapital.co.uk on the strength of an old review may find it no longer answers.

Terms that bind a client who has a support dispute

A support conversation about money moved through ICM touches contract terms as well as a contact address. The firm’s own deposits and withdrawals FAQ states that “Credit/Debit card withdrawal amounts are limited to the amount originally deposited using that card(s),” so a client whose card funded the account cannot get trading profit back onto that same card and has to raise a second withdrawal method instead, adding a step to any support ticket about a stuck payout. The same FAQ states ICM will not accept funds from a payer other than the account holder: “We are unable to accept payments from third party as this violates our Anti Money Laundering policies. Any third party deposits will be rejected and returned to the original source.” A client who complains that a transfer never arrived may find support’s answer is that it was already bounced back to the sender.

The site wide footer also discloses that card payments can be routed through a separate Swiss company: Card transactions may be processed by the associated independent representative, ICM House AG, with registration number CHE 497.911.976 … By making a payment, you acknowledge and agree that the payment for your order may be facilitated by this independent representative. A support query about a card payment can therefore involve a second, Zurich registered entity outside the regulator that licenses the trading account itself.

What we could not check

Every Terms and Conditions, Risk Warning, and several jurisdiction specific legal PDF we tried to fetch for the UK, UAE, Indonesia and Australia versions of the site failed to download or parse. That means any clause setting out a formal complaints procedure, response time commitment, or internal escalation path, the kind of detail that usually lives in a client agreement rather than a FAQ page, was not available to us. The contract terms reported above come from FAQ snippets and footer disclosures only, not from the signed client agreement, so a client relying on this section for a formal dispute should still request the actual agreement from whichever ICM office holds their account.

Prohibited Countries

ICM.com’s own root page for the UAE audience states plainly that “ICM.com does not offer services to residents of sanctioned countries.” No specific country list is published alongside that statement, so we cannot tell a reader which countries the firm has in mind, only that the exclusion exists.

What ICM Capital does not publish

We could not find a restricted or prohibited country list anywhere in the current pages fetched for our evidence. Our earlier review separately reports that it checked icmcapital.co.uk’s homepage, legal, terms and legal documents pages from an Indonesian exit point on 27 July 2026, and it too found no published restricted country list on that domain. That earlier review states that an older version of itself had carried a list of prohibited countries, including Iran, North Korea, Syria and Cuba, but that this list could not be sourced to anything the broker itself publishes, so the earlier review removed it. We do the same here: without a page from the firm naming those countries, we are not going to repeat the list.

What the firm’s pages do restrict, by region

Rather than a nationality ban, the documented restrictions we found are narrower and tied to account footnotes on the firm’s own Account Overview page. Footnote 3 states that “For Asia, available products are Forex, Energy Futures and Precious Metals,” which is a smaller product set than the Stocks, Indices and Crypto CFDs the site advertises generally elsewhere. Footnote 6 on the same page states that “For Asia, Stop Out Level is 30%,” a forced closure threshold specific to that region; our evidence does not give us the equivalent level for other regions, so we cannot say how it compares.

Payment sourcing rules that function as an access restriction

ICM’s own Deposits and Withdrawals FAQ, fetched for the UAE audience, states: “We are unable to accept payments from third party as this violates our Anti-Money Laundering policies. Any third-party deposits will be rejected and returned to the original source.” This is not a country restriction, but it does restrict who can fund an account: only the account holder’s own payment source is accepted, and anything else is bounced back to where it came from.

Regulatory status that limits where ICM Capital can legitimately be used

The scope of a firm’s authorisation also functions as a practical restriction on where it can properly onboard clients. On the entities we could check against public registers: the FCA register shows FRN 520965, held by ICM Capital Limited, as “No longer authorised” rather than Authorised, effective 02/04/2026, which contradicts our earlier review’s claim that the firm holds current UK regulation. By contrast, the FSC Mauritius Online Public Register confirms ICM Capital Limited holds an SEC 2.1B Investment Dealer licence dated 30/01/2019, though the register does not publish the licence number the firm quotes. The ADGM FSRA Public Register confirms ICM Limited holds an active Financial Services Permission, number 210045, dated 2022 10 12. The UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C. as an active licensed company, listed since 2025, though again under a different reference code than the one the firm quotes. The Seychelles FSA lists ICM Capital Limited as a regulated securities dealer. We hold no register entry for the Qatar Financial Centre, ARIF Switzerland, or the Stockholm County Administrative Board, so the numbers our earlier review attributes to those authorities are not checked here, a gap in our own directory rather than a finding about the firm.

We searched 1441 warning list entries mirrored from the FCA, CySEC and FSC Mauritius warning lists, and ICM Capital does not appear on any of them. That result covers only the regulators we mirror, not a global sweep, and it is not the same thing as a country restriction; it simply means none of those three lists has flagged this firm.

Conclusion

ICM Capital scores 6.1 overall, and the regulation figure of 5.3 is the one to sit with before funding an account. The firm’s current regulations page names four regulators: the FSC Mauritius register confirms ICM Capital Limited as a Full Service Dealer licensed 30/01/2019, the ADGM register confirms ICM Limited in Abu Dhabi under FSP number 210045 (active, since 2022-10-12), the UAE Capital Markets Authority register confirms ICM Mena Securities and Financial Products Promotion L.L.C as CP-0001556 (active, listed since 2025), and the Seychelles FSA lists ICM Capital Limited as a regulated securities dealer. Those four hold up. FRN 520965, the number our earlier review attaches to ICM Capital at the FCA, does not: the FCA register shows that firm as “No longer authorised”, not authorised, as of 02/04/2026. A reader who arrived expecting tier one UK oversight is not getting it from this account of the register.

What the ICM Capital register check turned up

Three further numbers in the older review, a QFC licence, an ARIF membership for ICM House AG in Zurich, and a Stockholm County Administrative Board registration, sit outside the five registers we searched directly (FSC Mauritius, ADGM, CMA UAE, FCA, FSA Seychelles), so we could not check them; that is a gap in our own directory, not a finding about the firm. Where we could search, we ran a positive control on all five registers first, confirming a known listed firm would actually show up, so an absence would mean something. On the warning-list side, we searched 1,441 entries mirrored from the FCA, CySEC and FSC Mauritius blacklists and ICM Capital matched none of them. That is worth stating plainly since it is a clean result our earlier review cannot offer, but it only covers three regulators’ lists, not a global sweep.

What ICM Capital charges

Fees are where this broker scores best, at 8.6. The firm’s own accounts page states no account opening fee, and its fee page says card deposits carry no cost on ICM’s side (“ICM bares all costs for clients who deposit via credit card”), with international bank transfers passing on whatever the sending or receiving bank charges. Two contract terms bind a depositing client directly: a card withdrawal is capped at the amount originally deposited on that card, so profit above that figure has to leave by another route, and card payments are routed through a separate Swiss entity, ICM House AG, registered under ARIF number CHE-497.911.976, which the site’s own footer discloses the client agrees to by paying. The Account Overview footnotes also disclose an admin fee after 14 days on FX positions and 5 days on Metals, a charge on open positions that our earlier review’s claim of no inactivity fees on dormant accounts does not address. The remaining withdrawal fee figures, a $15 wire fee, 1% on Skrill, 3% on Neteller, 0.5% on Bitcoin, all come from our earlier review rather than a page we fetched here.

Platforms, support and the reviews score

Platform scores 5.9. The current PLATFORMS navigation and the platform pages we fetched list MetaTrader 4 and MetaTrader 5 only; cTrader and a proprietary “ICM Securities” share platform, both claimed by the older review, do not appear anywhere in the pages fetched for our evidence. Support scores 5.8: contact channels split across four addresses, support@icm.com, support@icm.ae, support@icmmena.com, each tied to a different regulated entity and regulator, so which office and which protections apply depends on who onboarded the client. The homepage claims 24/7 support while our earlier review describes 24/5 hours instead, a conflict we did not resolve by testing a channel ourselves. Every Terms and Conditions and Risk Warning document failed to download during collection, so the contract terms above come from FAQ text and footers only, not the signed client agreement, and reviews sit at 5 with no further detail in our evidence to add to it.

ICM Capital holds confirmed licences in Mauritius, Abu Dhabi, Dubai and Seychelles, but the FCA register shows the FRN attached to it as no longer authorised, and key contract documents could not be read at all. TrueBroker scores ICM Capital 6.1 out of 10.

FAQ