What Account Types and Fees Does ICM Brokers Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| ICM Direct Account |
Retail traders seeking low spreads |
Market execution with no commission |
Suitable for various trading styles with no minimum deposit |
| ICM Zero Account |
Experienced traders looking for tight spreads |
Low spreads starting from 0.0 pips with a commission |
Recommended for high-frequency trading, minimum deposit applies |
| ICM Cent Account |
Beginners wanting to practice with smaller amounts |
Micro lot trading with no commission |
Ideal for small-capital practice, accessible with a low minimum deposit |
| Islamic Account |
Muslim traders requiring swap-free conditions |
Adheres to Islamic finance principles |
Must comply with Islamic law regarding trading |
Account Opening Process
Opening an account with ICM Brokers involves a straightforward process that includes the following steps: First, prospective clients need to register by completing the online registration form to create their ICM profile. Then, they must verify their identity by submitting required documents, such as a valid government-issued ID and proof of address. After verification, clients can fund their accounts using ICM’s efficient cashier solution. Finally, once the account is funded, traders can start engaging with the global financial markets. It is important to note that clients may have the flexibility to upgrade their accounts in the future, such as moving to a professional account if their trading volume meets the requirements.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
From 0.0 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (Minor Pairs) |
Varies |
$0 (ECN: $3.5/lot) |
Competitive rates for minor pairs |
| CFDs (Stocks) |
Varies |
$0 |
No commission on stocks |
| CFDs (Indices) |
Varies |
$0 |
No commission on indices |
| CFDs (Commodities) |
Varies |
$0 |
No commission on commodities |
| Cryptocurrencies (Bitcoin) |
Varies |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, clients should be aware of other potential costs associated with their accounts. These may include deposit and withdrawal fees, which can vary based on the payment method used. Inactivity fees may apply if an account remains dormant for an extended period. Additionally, there could be platform usage fees depending on the specific services utilized. Traders should also consider overnight interest (swap rates) for positions held beyond a trading day and any currency conversion fees that might be incurred when trading in different currencies.
