ICM Capital Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of ICM Capital fees and also assessed the size of its minimum deposit.
Short introduction of ICM Capital
Clients of ICM Capital can trade currency pairs and CFDs on stocks, indices, commodities, and metals. The minimum deposit is $200, and the allowed currencies for deposits and withdrawals are USD, EUR, GBP, and SGD. This broker offers a demo account and two real accounts, and any of the standard accounts can be upgraded to a professional account for expanded trading opportunities, but only if you qualify. The spreads are floating and start from 0 pips. There are no commissions on the Direct account, while the Zero account charges $7 per lot. Traders have the option to use the MT4 trading platform, including the mobile version. This broker does not provide alternative earning options such as joint accounts, copy trading, or referral programs. Educational materials are not available on the website, but there are many tools for technical and fundamental analyses.
| 💰 Account currency: | USD, EUR, GBP, and SGD |
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: | Up to 1:200 |
| 💱 Spread: | Floating, from 0 pips |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, indices, metals, energies |
| 💹 Margin Call / Stop Out: | No |
ICM Capital Pros and Cons
👍 Advantages of trading with ICM Capital:
•This broker offers straightforward and clear conditions, with only account types that differ in trading costs.
•Traders can deposit and withdraw funds using various methods, and no commission is charged for the first withdrawal each month.
•Broker’s clients use the MetaTrader 4 trading platform, which is easy to learn and highly customizable through plugins.
•The company is officially registered in the United Kingdom and regulated by the Financial Conduct Authority (FCA).
•Clients' funds are protected against unforeseen circumstances, with insurance coverage of up to £5 million.
•This broker issues its own Mastercard plastic card, which can be used for payments worldwide and online.
•The company's website and the trader's user account provide numerous resources for market analysis and forecasting.
👎 Disadvantages of ICM Capital:
•The technical support operates only on weekdays and during limited hours (from 6:00 to 18:00 GMT).
•Clients cannot earn through any means other than active trading.
•If a user withdraws funds more than once per month, they will be charged a commission for each subsequent withdrawal.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
ICM Capital Commissions and Fees
Most brokers have similar commission policies. Therefore, the trader's main costs are the spread, transaction, and withdrawal commissions. The spread can be variable (in most cases) or fixed (rarely encountered). The spread can also be standard or raw, with the latter being lower but accompanied by higher commission fees. In the case of ICM Capital, there is a standard spread starting from 0 pips. On the Direct account, the spread is slightly higher, but there is no commission. On the Zero account, the spread is minimal, but there is a $7 commission per lot. This is not the lowest indicator and can be considered average in the market. Thus, the main costs for ICM Capital clients do not exceed optimal values, regardless of their preferred real account type.
| Account type | Spread (minimum value) | Withdrawal commission |
| Direct | Spreads from 7$, without commission | No |
| Zero | Spreads from 0 pips, with a commission of $7 per lot | No |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
ICM Capital Minimum deposit
Guide on how traders can start earning profits
A client’s primary task is to choose a trading account, but this is only relevant if this broker offers multiple account types. ICM Capital has only two accounts, and the difference between them lies in the spreads and commissions. On the Direct account, spreads are slightly higher, starting from 0.7 pips, but often have a minimum value of 1 or 1.3 pips, depending on the asset. However, this broker does not charge any commissions on trades conducted by the trader on this account. On the Zero account, the minimum spread is 0 pips, and the average value is lower than on the Direct account, but the trader has to pay a commission of $7 per full lot. It is difficult to say which option is more beneficial. The client needs to use specialized calculators to calculate the costs for their typical trades. Otherwise, the accounts are identical, they require a minimum deposit of $200 to start, the minimum trade size is 0.01 lots, and the maximum leverage is 1:200. These are comfortable and, in many ways, are average market indicators that will suit most clients.
Account types:
The standard practice for most traders who are starting to work with a specific platform is to first open a demo account. This allows them to explore this broker's conditions, pros, cons, and peculiarities without any risk to their capital. Additionally, a Demo account provides an opportunity to experiment with different strategies without risking real money. Then, the trader can open a real account according to their personal preferences. If they adhere to the Islamic religion, the account can be converted to a swap-free one upon request.
Brokers similar to ICM Capital
When analyzing ICM Capital, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of ICM Capital and other brokers.
Comparison of ICM Capital with other Brokers
| ICM Capital | RoboForex | Pocket Option | Exness | Deriv | Tickmill | |
|---|---|---|---|---|---|---|
|
Trading platform |
MT4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
MT4, MT5, Tickmill Mobile App |
|
Min deposit |
$200 |
$10 |
$5 |
$10 |
$1 |
$100 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
Yes |
|
Accrual of % on the balance |
No |
No |
No |
No |
1.00%% |
No |
|
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
$30 |
|
Cent accounts |
No |
Yes |
No |
No |
No |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of ICM Capital shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
Is there a dependence between the fees and the deposit amount?
If a broker offers several account types, there is often a dependence. The more money you deposit, the higher the level of your account will be, and, accordingly, the lower the fees.
What fees may be charged on ECN accounts?
As a rule, the fees are minimal on ECN accounts, with the spread rarely above 0.1 pips. Commission per lot may be charged.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!