Accounts & headline costs
Sections ↑ICM.com offers leveraged foreign-exchange and CFD trading through Direct and Zero accounts, with MetaTrader access and separate cash, futures-referenced and share contracts. This profile uses the current Mauritius retail account material checked on 11 October 2026; residence and the actual contracting entity determine the available offer.[1]
Direct incorporates the main FX charge in its spread. Zero combines narrower displayed spreads with a separate FX and metals commission. That distinction matters more than the account name: an account with a zero minimum spread still has a trading cost. The tables below preserve the broker’s published price units and distinguish averages from minimums.
Account comparison01
Mauritius account choices
| Feature | ICM Direct | ICM Zero |
|---|---|---|
| FX/metals commission | 0 | USD 7 per round lotSource 2 |
| Base currencies | USD, EUR, GBP, SGD | USD, EUR, GBP, SGDSource 2 |
| Minimum trade | 0.01 lot | 0.01 lotSource 2 |
| Advertised leverage ceiling | 1:200; variable | 1:200; variableSource 2 |
| Stop-out | 5% in normal FX conditions; Asia 30% | 5% in normal FX conditions; Asia 30%Source 2 |
| Published numerical initial deposit | Not established for current Mauritius offer | Not established for current Mauritius offerSource 2 |
Pricing & charges02
First reference: published FX average spreads
Reference table03
How to use the account comparison
| Decision | Practical consequence |
|---|---|
| Spread versus commission | Compare both components for the intended trade size; the narrower quote alone does not establish a cheaper round trip.Source 3 |
| Account versus product scope | The Mauritius account table limits Asia to FX, metals and energy futures. Shares and cash CFDs should not be presumed available there.Source 2 |
| Source date versus pricing period | 11 October is the research date. It does not identify the period used to compute the displayed averages.Source 3 |
Products & platforms
Sections ↑The catalogue spans several contract families with different financing and expiry mechanics. A cash WTI CFD and an OTC crude-oil futures contract should remain separate entries, even though both reference oil. Share CFDs likewise describe price exposure under a derivative contract; the platform’s market list does not establish custody of underlying shares.[17]
Reference table04
Main product families
| Product | What the official material offers | Availability boundary |
|---|---|---|
| Foreign exchange | Major, minor and exotic currency pairs | Separate Direct and Zero symbolsSource 3 |
| Precious metals | Gold, silver and platinum; euro-priced gold also listed | Contract sizes and margins varySource 4 |
| Cash indices and energy | Rolling CFDs including major equity indices and WTI/Brent | No scheduled contract expiry advertisedSource 6 |
| Energy futures CFDs | OTC light sweet crude, Brent and Henry Hub natural gas references | Distinct from the cash energy contractsSource 5 |
| Single stocks | US-listed share CFDs such as Microsoft, Nvidia, Tesla and Amazon | Current product text identifies MT4 and MT5Source 7 |
| Index futures and crypto | Dedicated instrument families in the current catalogue | Check the enabled symbols and session on the actual accountSource 8Source 9 |
Reference table05
Platform access and device choice
| Platform | Established functionality | Operational implication |
|---|---|---|
| MetaTrader 4 | Desktop, web and mobile; indicators and Expert Advisors | Automated strategies require the relevant desktop or hosted environment to remain operating.Source 10 |
| MetaTrader 5 | Desktop, web, iOS and Android; market depth, calendar and automated trading tools | Market depth is a platform feature, not a promise of executable liquidity at every displayed level.Source 11 |
| Mobile access | Account monitoring and manual order management through MetaTrader apps | A phone connection is not a substitute for checking whether an EA runs on a separate terminal.Source 10 |
| cTrader references | Institutional white-label and partner material mentions cTrader | A partner service does not establish current Mauritius retail cTrader account availability.Source 22 |
Reference table06
Representative contract sizes
| Contract | Published size per lot | Why it matters |
|---|---|---|
| EURUSDm / EURUSDr | 100,000 base-currency units | Lot size determines exposure; it is separate from the deposited margin.Source 3 |
| GOLDm / GOLDr | 100 | Use the complete terminal specification for the monetary value of a price movement.Source 4 |
| SILVERm / SILVERr | 5,000 | A silver lot is not economically equivalent to a gold lot.Source 4 |
| @CL and #WTI | 1,000 for each displayed contract | Their similar sizes do not make their financing or expiry treatment identical.Source 5Source 6 |
| Representative single-stock CFDs | 100 | Check the individual stock margin and minimum trade before translating lots into share exposure.Source 7 |
Fees & holding costs
Sections ↑The reference figures below identify the contract as well as the account. Their purpose is to make the price schedule readable without turning a published average into a guaranteed quote. The live terminal specification remains necessary for current financing, trading session, expiry and order-size settings.
Pricing & charges08
Gold and silver reference spreads
Pricing & charges09
WTI: keep cash and futures references separate
| Exact contract | Published average spread | Margin | Holding/expiry distinction |
|---|---|---|---|
| @CL OTC Light Sweet Crude Oil Future | 0.05; both accounts | USD 1,000 | Product table lists zero long/short swaps; contract expiry remains relevant.Source 5 |
| #WTI WTI Crude Oil Spot CFD | 0.05; both accounts | 2% | Cash contract lists long and short financing figures; no scheduled expiry advertised.Source 6 |
Reference table10
Other energy reference points
| Contract | Average spread | Other published terms |
|---|---|---|
| @BR OTC Brent Crude Future | 0.03 | USD 1,000 margin; 1,000 contract size; zero commissionSource 5 |
| @NG OTC E-mini Henry Hub natural gas future | 0.005 | USD 1,000 margin; 10,000 contract size; zero commissionSource 5 |
| #BRENT cash CFD | 0.05 | 2% margin; 1,000 contract size; zero commissionSource 6 |
Reference table11
Holding costs and conversion
| Cost | Evidence and limit |
|---|---|
| Ordinary swaps | FX and cash specifications display separate long and short rates. Their units and multipliers are not sufficiently complete to publish a reliable overnight cash estimate here.Source 3Source 6 |
| Share holding costs | A zero transaction commission in the stock table should not be read as an exemption from financing or contract adjustments.Source 7 |
| FX conversion on withdrawal | Company bank-derived internal rate at processing; no universal mark-up published.Source 15 |
Reference table12
Swap-free availability requires clarification
| Official statement | What remains material |
|---|---|
| Mauritius contract §10.5 | Swaps apply by default; approval is required for swap-free status. After grace periods of 14 calendar days for FX and 5 for metals, administration fees apply and may accrue daily.Source 15 |
| Account overview: available | The overview describes administrative charges after 14 days for FX and 5 days for metals.Source 1 |
| Metals FAQ: currently unavailable | This conflicts with the account overview; a categorical availability tick would misrepresent the evidence.Source 4 |
| Before opening such an account | Obtain written eligibility, symbols, grace period and actual administrative rates for the intended entity.Source 1 |
Reference table13
Costs outside ordinary trading
| Item | Current evidence |
|---|---|
| Account opening | No opening fee advertised.Source 1 |
| Card deposits | ICM says it covers credit-card deposit costs; international bank costs may still be deducted.Source 12 |
| Withdrawal allowance | One covered monthly withdrawal has an ambiguous five-lot/remaining-balance condition; later charges depend on method. Confirm non-trader treatment.Source 15 |
| VPS below the free-service threshold | No current public monthly tariff established; free eligibility should not be extrapolated to smaller accounts.Source 20 |
Reference table14
Crypto CFDs use a separate percentage commission
Reference table15
Index futures: expiry and margin checks
| Published example | Direct / Zero margin per lot | Qualification |
|---|---|---|
| @NQ OTC E-mini Nasdaq | USD 2,500 / USD 3,000 | Both displayed tables list size 20 and zero commission.Source 8 |
| @SP OTC E-mini S&P 500 | USD 1,750 / USD 3,000 | Both list size 50; the margin differs between account columns.Source 8 |
| Dated symbols and descriptions | Not used as current executable contracts here | Some displayed codes retain H5 expiry notation and mismatched descriptions; confirm the active contract and expiry in the terminal.Source 8 |
Execution & trading rules
Sections ↑Reference table16
Execution mechanics
| Issue | Published policy | Implication |
|---|---|---|
| Counterparty | ICM is the sole execution venue; policy describes dealing-desk execution. | Liquidity-provider language does not establish exchange execution.Source 16 |
| Gap and slippage | Stop, limit and other orders can fill at available prices after gaps. | A selected stop price is not a guaranteed maximum loss.Source 16 |
| Trade size | Minimum/maximum sizes are shown in the terminal and can change. | A large order may be rejected; partial fills require the stated telephone arrangement.Source 16 |
| Communication failure | The policy publishes a trading-desk phone for account actions. | Keep the account identifier available; an instruction still needs acceptance.Source 16 |
Reference table17
Automation and strategy permissions
| Feature | Published boundary |
|---|---|
| Expert Advisors | Available on current account material; MetaTrader supports custom automated strategies.Source 1Source 10 |
| No minimum FX/metals stop distance | Account table shows zero distance; platform availability and actual quote conditions still apply.Source 2 |
| Abusive trading clauses | Broad scalping/arbitrage and price-exploitation restrictions can limit otherwise available EAs.Source 15 |
Reference table18
Margin and liquidation are separate controls
| Control | Current Mauritius detail |
|---|---|
| Account leverage | Advertised ceiling 1:200; market and product limits can reduce exposure.Source 2 |
| Cash indices | Representative indices carry 5% margin and contract size 10.Source 6 |
| Stock CFDs | The selected equity examples range from 5% to 20% margin.Source 7 |
| Market interruption | Illiquidity and restrictions can prevent or delay closing a position, even with an intended risk-reduction strategy.Source 17 |
A low stop-out percentage should be interpreted as a liquidation threshold, not an additional cash buffer. Comparing accounts by leverage alone misses the interaction between initial margin, maintenance rules, spread widening and the price at which liquidation actually executes. The minimum deposit, maximum order and usable risk budget are separate questions.
Deposits, withdrawals & transfers
Sections ↑Reference table19
Deposit process
| Step or charge | Published treatment |
|---|---|
| Available methods | Use the ICM Access cashier; availability depends on the account and payment channel.Source 12 |
| Third-party payments | Rejected and returned to source.Source 12 |
| Credit timing | Normally within one business day after ICM receives the money.Source 12 |
| Bank deductions | International bank charges can reduce the amount credited.Source 12 |
Reference table20
Withdrawal process and clocks
| Stage | Published treatment |
|---|---|
| Request | Submit through ICM Access.Source 12 |
| Broker processing | Within 24 working hours advertised; this is not a promise of bank arrival.Source 12 |
| Card return limit | Return to the original card is limited to the deposited amount.Source 12 |
| Profit return | The contract permits excess profits through another method in the client’s name.Source 15 |
| Arrival after approval | Bank and payment-provider processing remain additional.Source 12 |
Reference table21
Events that can interrupt money movement
| Event | Contractual consequence |
|---|---|
| Prohibited-activity investigation | Accounts and withdrawals may be frozen for up to 90 days.Source 15 |
| Original payment system unavailable | Withdrawal may be postponed until the system resumes.Source 15 |
| Account closure | Active investments and ongoing investigations can prevent immediate closure.Source 15 |
A useful withdrawal record should distinguish request time, broker approval, release to the payment provider and final receipt. That separation makes a processing claim testable and avoids confusing a working-hour target with a calendar-day arrival guarantee. Retain the transaction reference and any deduction statement when comparing the amount sent with the amount received.
Reference table22
Prepaid card funding and delivery
| Item | Published programme terms |
|---|---|
| Application | Apply through ICM Access; an activation fee is deducted from the trading account.Source 23 |
| Funding minimum | No minimum card-funding amount advertised; the activation fee is still payable.Source 23 |
| Currencies | USD; JOD offered to Jordanian residents.Source 23 |
| Delivery | Published estimate 7–21 working days.Source 23 |
Protection & regulation
Sections ↑The UK FCA register marks ICM Capital Limited, FRN 520965, as no longer authorised. A surviving reference to that number on an older ICM page therefore cannot establish current UK authorisation for a new account. The Mauritius offer and Abu Dhabi entity must be assessed under their own contracts and permissions.[26]
Reference table23
Practical protection boundaries
| Scope | What the evidence establishes | What it does not establish |
|---|---|---|
| Mauritius account | Broker documents identify ICM Capital Limited and licence C118023357. | A current named FSC register entry was not independently retrieved.Source 14 |
| Client deficit risk | The Mauritius risk disclosure describes liability for a resulting deficit after liquidation. | Marketing references to negative-balance protection do not justify an unconditional guarantee.Source 17 |
| Client-money claim | Client-money bank account described. | No named Mauritius compensation fund or verified limit established.Source 15 |
Reference table24
Abu Dhabi: current permission restrictions
| Condition | Meaning for an applicant |
|---|---|
| No retail clients | ICM Limited’s FSRA entry expressly excludes dealing with retail clients.Source 27 |
| No holding or controlling client assets | Do not infer a client-money custody permission from the existence of the FSP.Source 27 |
| Matched principal only | Its principal dealing permission is limited to the matched-principal model.Source 27 |
Reference table25
Other group references need their own scope
| Reference | Relevant distinction |
|---|---|
| Dubai promotion business | The group describes a Category 5 promotion permission for ICM Mena Securities and Financial Products Promotion LLC. Promotion is not itself authority to execute the customer’s trades.Source 14 |
| Swiss ARIF membership | The group names ICM House AG membership. It should not be recast as a bank licence or a verified deposit-compensation promise.Source 14 |
Opening an account & support
Sections ↑Reference table26
Retail application and identity documents
| Requirement | Published information |
|---|---|
| Identity | Passport, national identity card or driving licence.Source 1 |
| Address | Recent proof of address may be requested; examples are required within three months.Source 1 |
| Language | The broker says it can review several document languages; translation may be requested where unavailable.Source 1 |
| Timing | Automated application can take minutes if verification succeeds; this is a company claim, not a tested completion time.Source 1 |
Reference table27
Ongoing verification
| Issue | Why it remains relevant after registration |
|---|---|
| Client due diligence | The AML policy provides for categorisation, identification and continuing checks. A completed registration does not remove subsequent information requests.Source 18 |
| Funding provenance | Identification and transaction review are part of the policy. Keep records connecting the account holder with the payment source.Source 18 |
| Introduced clients | The policy also applies to introducing brokers and affiliated channels; an introduction does not waive checks.Source 18 |
Official customer and trading contacts
General customer supportEmail
Customer telephoneTelephone
+44 20 7634 9779Source 13
Scope International support number; UK dialling code is not a UK account entitlement
Connection-failure trading deskTelephone
WhatsAppWebsite
Regional contactsWebsite
These are published contact routes. Response speed, telephone dealing acceptance and service availability have not been independently tested.
Reference table28
Support and escalation expectations
| Subject | Published route or limit |
|---|---|
| Service hours | The main site advertises multilingual support 24/7; dealing access remains subject to market and account conditions.Source 24 |
| Formal dispute | Unresolved issues go through Client Services; retain complaint and order references.Source 15 |
| Residence restrictions | Mauritius material excludes the USA, China, North Korea, the EU and sanctioned countries; acceptance elsewhere is still subject to application checks.Source 2 |
Additional services
Sections ↑Reference table29
VPS hosting
| Feature | Published specification |
|---|---|
| Free eligibility | Premium accounts with USD 4,000 balance or EUR/GBP/SGD equivalent.Source 20 |
| Machine | Windows Server 2019; 2,560 MB RAM; one virtual CPU; 30 GB disk.Source 20 |
| Technical help | Hosting-provider support advertised 24/7.Source 20 |
| Purpose | Keeps a hosted trading terminal running independently of the user’s own computer; actual execution still depends on the broker connection.Source 20 |
Reference table30
Managed-account service
| Function | Published capability |
|---|---|
| MAM allocation | A manager can operate multiple client accounts with real-time positions and allocation controls.Source 21 |
| Reporting | Historical activity and performance reporting are advertised.Source 21 |
| Manager remuneration | Manager-defined mark-ups and performance fees may apply; no universal retail fee is quoted.Source 21 |
| Automation | The service supports EAs and managed allocations. Account authority and withdrawal rights should be established in the mandate.Source 21 |
Reference table31
Business and institutional services
| Service | Published offering |
|---|---|
| Introducing brokers | Bespoke commissions, dedicated account management and reporting support.Source 22 |
| Institutional connectivity | API/bridge access and liquidity services are marketed separately from ordinary retail accounts.Source 22 |
| White label | Branded platform and CRM arrangements, including cTrader, are described as partner services.Source 22 |
Reference table32
Prepaid card functions
| Feature | Published scope |
|---|---|
| Spending and cash access | ATM withdrawals and online, point-of-sale and contactless payments are advertised.Source 23 |
| Card management | App functions include activation/deactivation, transfers and transaction history.Source 23 |
| Validity | Silver: three years; Black: one year. Programme fees and location eligibility need checking before application.Source 23 |
Prepaid-card guide details
Reference table33
Limits in the linked standard prepaid-card guide
The linked card guide describes immediate deactivation through the app if the card is lost. Its funding instructions include Jordanian payment channels. This regional programme detail is useful for applicants considering the card, but should not be treated as proof that every Mauritius brokerage customer can obtain or reload it on identical terms.[28]
Company background & evidence
Sections ↑ICM’s company profile traces the brand to 2009. The current global website routes its application link to the Mauritius client portal. Brand continuity is therefore useful context, while the legal identity on the account agreement remains the operational fact that determines the relationship. The current Mauritius disclosure, restricted ADGM permission and former UK authorisation describe different account relationships.[25][24]
Reference table34
Evidence hierarchy for this profile
| Question | Source used |
|---|---|
| Account terms | Current Mauritius comparison and current ICM.com account FAQ; older cents/cTrader/zero-stop-out tables were not carried forward.Source 1 |
| UK status | The FCA’s current firm status takes precedence over a surviving historical broker footer.Source 26 |
| ADGM retail eligibility | The FSRA’s express conditions take precedence over a generic group-regulation statement.Source 27 |
| Order handling | The Mauritius execution policy explains dealing-desk and gap mechanics more precisely than marketing execution labels.Source 16 |
Reference table35
Personal-data handling
| Subject | Published policy |
|---|---|
| Information access | Personal information is restricted to employees and authorised service providers who need it for their work.Source 19 |
| Website and third parties | The policy distinguishes the broker’s website from third-party sites and covers cookies and information submitted through public/private areas.Source 19 |
- Headquarters
- Group offices; Mauritius retail contracting entity
- Founded
- 2009 (brand history)
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
ICM Capital Limited
MauritiusSource 14
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Financial Services CommissionC118023357 | Not verified | Checked 11 Oct 2026Current broker disclosure; a direct current named FSC register result was not independently retrieved.Source 14 |
ICM Limited
Abu Dhabi Global Market, United Arab EmiratesSource 27
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Abu Dhabi Global Market Financial Services Regulatory Authority210045 | Authorised | Checked 11 Oct 2026Active. No retail clients; no holding/control of client assets; principal dealing limited to matched principal.Source 27 |
ICM Capital Limited
United KingdomSource 26
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Financial Conduct Authority520965 | Withdrawn | Checked 11 Oct 2026Current FCA firm result says no longer authorised. Historical UK references are not treated as current permission.Source 26 |
Additional Information
Sections ↑Reference table36
Information to obtain before relying on a specialist feature
| Information | Why it is consequential |
|---|---|
| Current swap-free addendum | Public account and metals pages disagree. The written instrument schedule needs to settle eligibility, grace period and administrative charges.Source 1Source 4 |
| Complete withdrawal tariff | The monthly waiver wording and non-trading condition need clarification before treating a withdrawal as free.Source 15 |
| Current instrument specification | Use the terminal for swap units, expiry dates, maximum order size and session exceptions. Published examples do not establish every live setting.Source 11 |
The reference tables preserve the broker’s published account features and quote-unit prices. The material does not establish a complete pip-based pricing convention or the period behind its averages. It supports product-specific checks, but not a reliable like-for-like measured cost ranking.
No client deposit, withdrawal, card application or live order was performed for this profile. Public support routes and advertised processing targets are documented as company statements. The evidence ledger records the current FCA status, the ADGM restrictions, the Mauritius register limitation, and the conflicting swap-free statements so that the next refresh can resolve them directly.
Sources & further reading
- Current account overview and application FAQ ICM.com · Accessed 11 Oct 2026
- Mauritius Direct and Zero account comparison ICM.com · Accessed 11 Oct 2026
- Forex instrument specifications: Direct and Zero ICM.com · Accessed 11 Oct 2026
- Precious metals specifications and swap-free FAQ ICM.com · Accessed 11 Oct 2026
- OTC energy futures specifications ICM.com · Accessed 11 Oct 2026
- Cash index and energy CFD specifications ICM.com · Accessed 11 Oct 2026
- Single-stock CFD specifications ICM.com · Accessed 11 Oct 2026
- Index futures CFDs ICM.com · Accessed 11 Oct 2026
- Cryptocurrency CFDs ICM.com · Accessed 11 Oct 2026
- MetaTrader 4 platform ICM.com · Accessed 11 Oct 2026
- MetaTrader 5 platform ICM.com · Accessed 11 Oct 2026
- Deposits and withdrawals: processing and original-source rules ICM.com · Accessed 11 Oct 2026
- Official regional contacts ICM.com · Accessed 11 Oct 2026
- Current group regulation disclosures ICM.com · Accessed 11 Oct 2026
- Mauritius terms and conditions ICM.com · Accessed 11 Oct 2026
- Mauritius order execution policy ICM.com · Accessed 11 Oct 2026
- Mauritius risk disclosure ICM.com · Accessed 11 Oct 2026
- Mauritius AML and KYC policy ICM.com · Accessed 11 Oct 2026
- Mauritius privacy policy ICM.com · Accessed 11 Oct 2026
- Virtual private server eligibility and specifications ICM.com · Accessed 11 Oct 2026
- Multi-account manager service ICM.com · Accessed 11 Oct 2026
- Introducing broker, institutional and white-label services ICM.com · Accessed 11 Oct 2026
- ICM Mastercard programme ICM.com · Accessed 11 Oct 2026
- Current ICM.com product and service landing page ICM.com · Accessed 11 Oct 2026
- ICM Capital Mauritius company profile ICM.com · Accessed 11 Oct 2026
- ICM Capital Limited: FCA firm status Financial Conduct Authority · Accessed 11 Oct 2026
- ICM Limited: current FSP and conditions ADGM Financial Services Regulatory Authority · Accessed 11 Oct 2026
- ICM-linked Gate to Pay standard prepaid-card user guide ICM.com · Accessed 11 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.