Accounts FAQs

Demo Accounts

How do I open an ICM account?

You can open an ICM Direct demo account by completing the online application form.

If you would like to open a demo Pro Account, please contact client services team member, as this type of account must be configured separately.

What do I do if I don’t receive my MT4 demo login details?

We send your MT4demo account login and password to the email address you provided on your application form.

If you don’t receive the email after you’ve completed the registration form, please check your spam (junk mail) folder.

If you can’t find it in your spam folder either, please don't hesitate to contact us.

Does my demo account expire?

Due to security and constant system updates the demo accounts on MT4will expire after 30 days of the creation date. Nevertheless a new demo account can be opened directly of the trading platform by following the below steps,

  • Open MT4 Platform
  • Select File - Open MT4 Account
  • Select server as ICM Capital -Demo - New Account
  • Enter all details and Accept to subscribe to newsletters

Be aware that if the personal information you provide is inaccurate or incomplete, your demo account may be deleted.

Can I see my full trading history on my demo account?

On MT4 Demo accounts you’re able to view your trading history in your MT4 Platform, by selecting Account History within the terminal window.

How do I change my demo account leverage?

If you’d like to change the account leverage for any type of demo account, submit your request to the client services team quoting your account number and the leverage you’d like. Maximum leverage ICM Capital offer is 1:200.

How do I change my demo account currency?

Submit a request by email to theteamquoting your account number and the currency you'd prefer. ICM Capital offers MT4 accounts denominated in the following currencies GBP, USD, EUR and PLZ.

How do I fund my demo account?

If you’d like to add funds to or top-up your demo accounts, contact the client services team quoting your account number and the amount you’d like added to your account.

How do I know which type of a demo account I have?

If you’d like to find out the type of demo account that you have, contact the client services team, quoting your Demo account number.

How do I know which server to select to log into my demo account?

You’ll need to select the right server for your Demo account type.

If you’re not sure which server you should use, please refer to the following,

Demo: ICMCapital-Demo

Live: ICMCapital-Real

What are the spreads on my Demo account?

The spreads on the ICM Capital accounts are variable spread. You can check our all product and contract specs on for a full list of typical spreads for all currency pairs on the trading products page.

Can I use my Demo account to back test?

Yes, you can use your MT4 demo accounts to back test your strategies.

How much does it cost to open a Demo account?

It’s free to open a demo account with us.

Why has my Demo account been disabled?

Your demo account will expire after 30 days, nevertheless you can open another demo account through the MT4 platform.

Can I delete trades from my Demo account history?

No, you’re not able to delete any past trading activity from your demo accounts.

Can I open a demo account and a live account at the same time?

Sometimes it’s helpful to use your demo account for testing different strategies before applying them on your live account. That’s why you can hold both a Live and a Demo account at the same time.

Is trading different on demo and live accounts?

Our MT4 Demo accounts reflect the same environment as their respective live counter parts in terms of price feed, functionality and features.

However be aware that all of our demo account servers may show differences from the live environment from time to time.

Live Accounts

How do I change the leverage on my live account?

You can change your leverage by sending your request to client services.

What’s the maximum leverage I can have on my live account?

The maximum leverage available for all accounts is 1:200.

Is the leverage fixed on my live account?

The leverage applied on all live account is 1:200 

Your account leverage applies only to forex trades.

Am I guaranteed to receive leverage of 1:200 at all times?

ICM Capital does not guarantee receiving the leverage for 1:200 at all times. During the fundamental news release the leverage maybe lowered for your protection.

Do you allow scalping on MT4?

Yes. You’re allowed to scalp on all instruments. We don’t restrict any trading strategies.

What is hedging? How does hedging affect my margin requirement?

Hedging is when you have long and short positions in the same instrument open simultaneously. If you’re fully hedged, you'll have long and short positions open in equal volumes.

Having fully hedged positions will reduce your total margin requirement to zero.

For example, if you have an account in GBP with a leverage of 1:200 and open the following trades:

  1. You buy GBPUSD 0.3 lot:

     

    The margin held for this trade is GBP 186.58 based on the following calculation:

    0.3 lot x 100,000 = GBP 30,000

    GBP 30,000 / 200*1.24833= GBP186.58

  2. You then sell GBPUSD 0.3 lot to hedge your long position:

    The margin held for both these trades is GBP186.58.00

    This would be calculated by the following:

    (0.3 lot x 100,000 / 200) - (0.3 lot x 100,000 / 200) = 0

    If you close one side of the hedge, the margin held on your open position will revert to the full margin requirement. So if you close the long position the margin will be calculated based on 1.24812 and if you close the short position, your margin will be calculated based on 1.24833

    If you close the buy order in the above example, the margin held on the open position – sell GBPUSD 0.3 lot – will still remain as GBP186.58.(0.3 lot x 100,000 / 200 x 1.24833) = 186.58

Do you allow hedging on MT4?

On the MT4 platform, hedging is allowed.

If I fully hedge my account is my account investment protected against market fluctuations?

No, since the spread is floating, it affects P/L calculations. It is important to note that even a fully hedged account may suffer losses due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may even trigger a Margin Call.

What spreads do you offer on your live accounts?

We offer variable spread, where the spread can go as low as 0.8 on EURUSD, further information on the spread can be found on Trading Specification.

Why is the spread sometimes much higher than the typical spread you advertise?

We offer you flexible spreads on all accounts.

Widening spreads reflect market conditions such as increased volatility or a lack of liquidity in the instrument. A change in spreads reflects a change in market conditions.

Do you charge commission on live accounts?

We don’t charge commission on our accounts, Forex market costs are usually worked out on the bid-ask spread. ICM Capital charges no commission and is compensated through a mark-up which is added to the spread it receives from its liquidity provider. In addition, at ICM Capital we have no exchange fees and no clearing fees.

Do you charge swap (roll over) fees on live accounts?

Forex and precious metal positions that are left overnight or over a weekend are subject to swap charges. The Swap rate varies for both Long and Short position can be viewed on each instrument through the MT4 platform on “specification”.

Do you offer swap-free accounts?

Yes, we do. Capital offer Swap Free/ Islamic Accounts to client following the Muslim faith. Please contact our client services team.

Do you guarantee stops?

No, we do not, but we will always give you the best possible price considering market conditions at the time.

When is rollover time?

Daily Market Rollover time is around 22:00:00, server time

In event the open position was kept open after midnight of Wednesday, 3 days of swap will be calculated.

Do you offer options?

Currently, we do not offer options. We are constantly reviewing our product offering.

What’s leverage?

Leverage is borrowing money to supplement existing funds in such a way that the potential profit or loss is magnified. Leverage is vitally important to your trading activities. Choosing the wrong leverage could result in large losses and damage potential profits.

The leverage on your account plays a significant part in determining the amount of funds you need to put up for a trade.

ICM Capital we allow you to trade with a leverage of 1:25, 1:50, 1:100 or 1:200 on your initial margin deposit. This means for example that with 1:200 for a margin deposit of $1,000, you can control $200,000 worth of currency or with 1:100, $1,000 can control $100,000.

How can I get a trading account statement for my account?

We’ll provide you with an official statement of the trading activity on your account called the daily confirmation. This type of report is only generated when the account is active.

How much tax will I have to pay?

We can’t provide any advice relating to tax issues. Please seek independent financial advice regarding this.

What’s floating leverage?

Floating leverage is a system that automatically applies higher leverage on a trade-by-trade basis depending on your trade volume.

Floating leverage is based on current open positions and the leverage decreases as the size of open positions increases.

At ICM Capital, we do not offer this kind of leverage. ICM Capital offers fixed leverage of Maximum 1:200.

How do I change my password on the MT4 platform?

You can change the master password on your MT4 platform by following these steps:

Step 1: Navigate to Tools->Options.

 

Step2: Select the server tab and click on “Change”

Step 3: Confirm your master password in the “Current password” field then tick the “Change master password”.

Step4: Enter the new password in the “New password” and “confirm” fields.

Alternatively login to your ICM Access to change your MT4 password

What’s an investor password and how do I create one on the MT4 platform?

The investor password gives you limited access to look through charts, perform technical analysis and test Expert Advisors. You can’t trade with an investor password.

It can easily be created on your platform by following these steps:

Step 1: Navigate to Tools->Options

 Step 2: Select the server tab and click on “Change”

Step 3: Confirm your master password in the “Current password” field. Then select “Change investor (read only) password”.

Step 4: Enter the new password in the “New password” and “Confirm” fields.

I forgot my trading account password. What should I do?

To reset your Mt4 Password you can do so login to your ICM Access and following the reset steps.

Alternatively you can reset your trading account password by emailing our client services team with your:

  • Login number
  • Full residential address
  • Date of birth
What should I do if I’ve lost my login details?

If you need to retrieve the login details for your account(s), please contact our client services team with your:

  • Account Name
  • Registered email address
  • Full address (including postcode)
  • Date of birth
How do I update my registered residential address, telephone number or email address for my live account?

If you would like to update your personal information, please submit an email from your registered email address to client services, confirming the following and provide the updated details,

  • Login number
  • Old telephone number
  • New telephone number
  • Old address
  • New address

If updating residential address you must present your recent proof of address (e.g. utility bill, bank statement etc.)

ICM Capital will only honour requests received from registered email addresses.

Will you close my live account if it has a zero account balance?

No. You’re not required to maintain any minimum balance to keep your account open.

Can I trade micro lots?

Yes. The minimum trade size we offer is a micro lot (0.01 lot).

DIRECT/DIRECT PRO

What’s the minimum deposit for ICM Direct accounts?

The minimum deposit for ICM Direct account is USD 200.00 or equivalent in other currencies.

If I made initial deposit of 200 USD, can my future deposits be lower than 200 USD?

No. All your deposits must be USD 200.00 or equivalent in other currencies.

Which currency pairs can I trade on ICM Direct accounts?

On your ICM accounts, you can trade over 32 currency pairs. Please check our currency pair page for the list of all available pairs.

Can I trade gold or silver on my ICM Direct account?

Yes. Both spot gold and silver are available for trading on ICM Direct accounts.

What’s the minimum order size for ICM accounts?

The minimum order size for ICM Direct accounts is 0.01 lot, or 1,000 units of the base currency.

What’s the maximum order size for ICM Direct accounts?

On ICM Direct, the maximum order size is 500 lots and vary on the type of product chosen, please view below,

FX Pairs:-Min and Max Lots per trade:  0.01 lots - 500 lots
OTC Precious Metals:-Min and Max Lots per trade:  0.01 lots - 500 lots
Stocks:-Min and Max Lots per trade:  0.01 lots - 500 lots
Energies:-Min and Max Lots per trade:  0.01 lots - 500 lots
Cash CFD’s:- Min and Max Lots per trade:   1 lots - 5000 lots

IPHONE

How do I download the Meta Trader 4 (MT4) iPhone app?

You can download the Meta Trader 4 (MT4) iPhone app provided by Meta Quotes Software Corp from the iTunes store.

How do I log in to my MT4 account using the iPhone app?

Please tap on the MT4 icon on your iPhone and select “Settings”.

To login to your ICM Direct trading account, please select “Login with existing account”:

In the search box, please type in “ICMCapital” to bring up the list of available ICM Capital servers:

From the list of available servers, you can select the one that corresponds to your account (Demo or Real), this will direct you to the login page:

Now please enter your MT4 account login number, your master password and press “Done”.

How do I place a trade using my MT4 iPhone app?

Please navigate to the “Quotes” tab and tap on the instrument you’d like to trade.

Tap on “Trade”.

You’ll then be prompted to specify the volume and type of execution you’d like, and tap on “Next”.

If you wish, you can add a stop loss or take profit and then select “Buy” or “Sell” accordingly.

How do I modify or close a trade using my MT4 iPhone app?

Please navigate to the “Trade” tab to view your open positions and then press the open position to expand and show its details.

Once the box appears underneath the order, press within that space (box) for a few seconds until a menu appears (see image).

Then please tap the “Modify” button, to alter the stop loss (S/L) or take profit (T/P) levels.

Now please enter or change the S/L or T/P levels and then tap the “Modify” button.

How do I log out of the MT4 iPhone app?

Please Navigate to the “Settings” tab.

Then tap on “Accounts”.

Now please tap “Go Offline”.

How do I add currency pairs to the quotes list on my MT4 iPhone app?

Please navigate to the “Quotes” tab.

To add a symbol, please press “+” at the top left-hand corner to open the screen below. Available instrument groups will be shown here.

Select the group you’d like to view the instruments for.

Now please tap on the symbol you’d like to add to your quotes list.

How do I remove currency pairs form the quotes list on my MT4 iPhone app?

Please navigate to the “Quotes” tab.

To delete instruments, press “Edit” at the top left-hand corner to open a new window.

Select the instrument you’d like to remove from the list and a red tick will appear on the left hand side. To confirm this deletion please press the red ‘bin’ button.

To return to the main quotes screen, press “Done”.

How do I open charts on the MT4 iPhone app?

Please navigate to the “Quotes” tab and tap on the symbol you’d like to open a chart for. This will automatically redirect you to the relevant chart.

How do I see my open and pending positions on my MT4 iPhone app?

Please navigate to the “Trade” tab to view your open and pending positions.

How do I see my account history on my MT4 iPhone app?

Please navigate to the “History” tab, which will show the account history for the chosen time period.

Can I use the app for multiple accounts on my MT4 iPhone app?

You’re only able to log into one account at one time on the application. However, you can switch between accounts if you wish to do so.

What happens if I lose connection on my iPhone when using the MT4 iPhone app?

If you lose connection on your iPhone, you’ll be automatically logged out of the account. However, any open or pending positions will still remain active on the account.

Can I use indicators on the MT4 iPhone app?

You can use the indicators that are available for the app by default.

To view these navigate to the “Chart” tab.

Tap on “f” button above the chart.

In the next window, please tap on the “+” button next to “Main window” or “Indicator window”, to view the list of indicators.

Tap on the indicator you want.

Adjust the indicator properties as required, then please tap “Done”.

Can I add custom indicators to the MT4 iPhone app?

Unfortunately, you’re only able to add indicators to your chart from the default list. You can’t add your own custom indicators.

Can I use EAs on the MT4 iPhone app?

Unfortunately, you can’t use Expert Advisors on the iPhone app.

Can I place a trailing stop on the MT4 iPhone app?

No, unfortunately you can’t place a trailing stop using the iPhone app.

How can I zoom in/out of the chart on my MT4 iPhone app?

You can zoom in and out of your chart by expanding the screen using your fingers or pinching them together across the screen to zoom back in.

What types of orders can I place on my MT4 iPhone app?

You can place instant execution and pending orders on your iPhone app.

ANDROID

How do I download the Android app for Meta Trader 4 (MT4)?

You can download the Meta Trader4 Android app provided by Meta Quotes Software Corp from Google Play.

How do I log in to my account using the Android app for MT4?

To login to your ICM Capital trading account, please select “Login with existing account”:

 

You’ll then be redirected to the server selection page.

In the search box, please type in “ICM Capital” to bring up the list of available ICM Capital servers.

From the list of available servers, select the one that corresponds to your account.

This will now direct you to the login page.

Now please enter your MT4 account login number, your master password and select “Login”.

Upon successful login, you’ll see the quotes screen.

How do I place a trade with the Android apps for MT4?

Please navigate to the “Quotes” tab and tap on the instrument you’d like to trade.

Then tap on “New Order”.

You’ll then be prompted to specify the volume and type of execution you’d like, and tap on “Next”.

You can then add a stop loss or take profit if you wish and select “Buy” or “Sell” accordingly.

How do I modify a trade on the Android apps for MT4?

Please navigate to the “Trade” tab.

Tap and hold the open position.

A new pop up window will appear. Please select “modify order”.

You’ll then be prompted to enter your stop loss or take profit details.

Once you’ve specified these, tap “Modify”.

How do I close a trade on the Android apps for MT4?

Please navigate to the “Trade” tab.

Tap and hold the open position.

A new pop up window will appear, select “close order”.

 

You’ll then be prompted to confirm the closing of the trade.

Tap “Close”.

How do I log out of the Android apps for MT4?

When you First login the Application will ask if you would like to save password, by ticking this box the application will have you signed in even through the application is not running.

Removing the tick off the 'Save Password' option, will automatically log you out of the platform when the application is closed. That will mean every time you login you will be asked to enter your password. To be able to do this to an existing saved account on the application you will need to delete the account off your Account List, and re-enter the details making sure the Save Password option is not ticked off.

 

How do I add currency pairs to the quotes list on my MT4 Android app?

Navigate to the “Quotes” tab.

To add a symbol, please press “+” at the top left-hand corner to open the screen below.

Available instrument groups will be shown here.

Now please select the group you’d like to view the instruments for.

Tap on the symbol you’d like to add to your quotes list.

How do I remove currency pairs from the quotes list on my MT4Android app?

Please navigate to the “Quotes” tab.

Then please tap the Editing button

Tap on the “bin” icon on the top right-hand corner.

Select the instruments you’d like to remove from the list and a tick will appear on the left-hand side. Then please tap “Tick symbol” to delete.

How do I open charts on the MT4 Android app?

Please navigate to the “Quotes” tab.

Tap on the instrument and a new pop-up window will appear.

Select “Open Chart” and your requested chart will be opened.

How do I see my open and pending positions on my MT4 Android app?

Please navigate to the “Trade” tab and you’ll be able to view any open positions under the “Positions” heading and pending positions under the “orders” heading.

How do I see my account history on my MT4Android app?

Please navigate to the “History” tab.

Tap on the Calendar symbol, a new window will appear.

Then please select the timeframe you’d like.

The order history will then appear.

Can I use the app for multiple accounts on my MT4 Android app?

You can only log into one account at one time on the application. However, you can switch between accounts if you wish to do so.

What happens if I lose my connection on my MT4Android app?

If you lose the connection on your Android device, you’ll be automatically logged out of the account. However, any open or pending positions will still remain active on the account.

Can I use indicators on the MT4 Android app?

You can use the indicators that are available on the app by default. To view these, please navigate to the “Chart” tab. Please tap on 'F' symbol and a list of indicators will appear.

Can I add custom indicators to the MT4 Android app?

Unfortunately, you can only add indicators to your chart from the default list. You can’t add your own custom indicators.

Can I use EAs on the MT4 Android app?

Unfortunately, you can’t use Expert Advisors on the Android app.

Can I place a trailing stop on the MT4 Android app?

Unfortunately, you can’t place a trailing stop using the Android app.

How can I zoom in/out of the chart on my MT4 Android app?

You can zoom in and out of your chart by expanding the screen by pinching your fingers together across the screen to zoom back in.

What types of orders can I place on my MT4 Android app?

You can place Market orders and pending orders on your MT4 Android app.

CFDs and Spot FX are leveraged products. Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. Read More
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