ICM Capital provides online currency trading conditions for clients around the globe and is one of the fastest growing multi-asset online trading companies in the world. We offer tight spreads on OTC Spot Foreign Exchange for all major currency pairs.
The online currency trading market is open 24 hours a day allowing online forex trading to take place from Monday to Friday. At ICM Capital the MetaTrader 4 online trading platform offers traders the opportunity to trade Forex from anywhere in the world using the iPhone, iPad, laptop or PC at times convenient for them.
The Foreign Exchange Market (FX) is the arena in which one nation's currency is exchanged for that of another at a mutually agreed rate. It was created in the 1970's when international trade transitioned from fixed to floating exchange rates, and is now considered to be the largest financial market in the world because of its huge turnover.
In Forex trading all currencies are traded in pairs, with the 'base' currency being the first currency of the pair and the 'quote' or 'term' currency being the second currency in the pair.
Base currency Quote currency Rate USD JPY = 120.25
This abbreviation specifies how much you have to pay in the quote currency to obtain one unit of the base currency (in this example, 120.25 Japanese Yen for one US Dollar). The minimum rate fluctuation is called a point or a pip.
Most currencies, except USD/JPY, EUR/JPY, CHF/JPY and other Yen crosses where a pip is 0.01, have 4 digits after the period (a pip is 0.0001), and sometimes they are abbreviated to the last two digits. For example, if EURUSD is traded at 1.2389/1.2391 the quote may be abbreviated to 89/91.
|Foreign Exchange||ICM Direct||ICM Direct Limits/stops pending orders can be placed from market price||ICM Pro||ICM Pro Limits/stops pending orders can be placed from market price*|
|AUD/CAD||3.5||No Minimum||2.7||10 Pips|
|AUD/CHF||3.6||No Minimum||2.5||15 Pips|
|AUD/JPY||3.1||No Minimum||2.1||10 Pips|
|AUD/NZD||4||No Minimum||2.9||20 Pips|
|AUD/USD||2.1||No Minimum||1.4||5 Pips|
|CAD/CHF||3.9||No Minimum||2.6||10 Pips|
|CAD/JPY||3.3||No Minimum||2.4||10 Pips|
|CHF/JPY||3.9||No Minimum||2.5||10 Pips|
|EUR/AUD||3.8||No Minimum||3||15 Pips|
|EUR/CAD||3.7||No Minimum||2.8||20 Pips|
|EUR/CHF||3.4||No Minimum||2.3||10 Pips|
|EUR/GBP||2.1||No Minimum||1.4||5 Pips|
|EUR/JPY||2.9||No Minimum||2||10 Pips|
|EUR/NZD||5.1||No Minimum||3.8||25 Pips|
|EUR/SGD||4.9||No Minimum||4.2||15 Pips|
|EUR/USD||1.3||No Minimum||1.1||5 Pips|
|GBP/AUD||5||No Minimum||3.6||20 Pips|
|GBP/CAD||4.6||No Minimum||3.7||20 Pips|
|GBP/CHF||4.6||No Minimum||3.4||10 Pips|
|GBP/JPY||3.7||No Minimum||2.5||10 Pips|
|GBP/NZD||6.3||No Minimum||5||30 Pips|
|GBP/SGD||7.3||No Minimum||5.6||20 Pips|
|GBP/USD||2.3||No Minimum||1.6||5 Pips|
|NZD/CAD||4.1||No Minimum||3||25 Pips|
|NZD/CHF||3.9||No Minimum||2.7||15 Pips|
|NZD/JPY||3.4||No Minimum||2.6||15 Pips|
|NZD/USD||2.4||No Minimum||1.8||5 Pips|
|USD/CAD||2.2||No Minimum||1.7||5 Pips|
|USD/CHF||2.5||No Minimum||1.7||5 Pips|
|USD/CNH||7.9||No Minimum||6||25 Pips|
|USD/JPY||2||No Minimum||1.3||5 Pips|
|USD/SGD||3.3||No Minimum||2.6||15 Pips|
i. ICM Capital Trading Hours: Sunday - Friday (22:00 - 22:00) Server Time
ii. ICM Direct account requires no minimum limits/stops to enter the market
iii. Min and Max Lots per trade: 0.01 lots - 500 lots
iv. All contract size is 100,000 of the base currency
v. Subject to change without prior notice
Required Margin = (Trade Size (lot size) / leverage) * account currency exchange rate (if different from the base currency in the pair being traded).
Trading 1 lot of GBP/USD using 1:200 leverage with an account currency denominated in USD
1 lot = 100,000
Leverage = 200
Base currency/Account currency exchange rate = 1.58
100,000/200 = 500
500 * 1.58 = 790
Required margin on this trade is $790.
No swaps will be offered on any positions under ICM Pro accounts. ICM Capital reserves the right to discontinue an Islamic/SWAP-free account without warning. ICM Capital will invoke this right in case of suspicion of abuse, in which case ICM Capital may, at its sole discretion, decide to close all open positions in the account and deduct or add swaps for all transactions currently and/or previously made in the account and decline from accepting any further requests from the Client to be exempted from SWAP.
While using higher leverage can significantly increase your profits, it equally can work against you as it involves greater risks to your capital. If the currency underlying one of your trades moves in leverage will greatly amplify your potential losses. It is possible for you to lose more than your initial deposit so please ensure CFD trading meets your investment objectives and seek independence advice and trading style that includes the use of stop and limit orders.
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