What Account Types and Fees Does ICAP Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, access to educational resources |
Ideal for small-capital practice |
| Professional Account |
Experienced traders and institutions |
Higher leverage, lower spreads |
Requires proof of trading experience |
| Corporate Account |
Corporations and financial institutions |
Customized services, bulk trading options |
Requires corporate documentation |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading, no overnight interest |
Available to eligible Muslim clients |
| Demo Account |
All traders for practice |
Risk-free environment, full access to trading tools |
Suitable for testing strategies without real capital |
Account Opening Process
To open an account with ICAP, potential clients must follow a straightforward process. Initially, they will need to submit personal details, including their name, address, and contact information. Next, applicants must provide employment and financial information, detailing their income and trading experience. Identity verification is crucial, requiring documents such as a government-issued ID and proof of address, such as a utility bill or bank statement. Once the account is opened, clients may have the flexibility to upgrade to a professional account later, depending on their trading volume and experience.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive pricing |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Varies by stock |
| CFDs (Indices) |
0.5% |
$3 per lot |
Standard index pricing |
| CFDs (Commodities) |
1.5% |
$4 per lot |
Depends on commodity type |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
ICAP may charge various fees beyond trading costs. These include deposit and withdrawal fees, which typically have no handling charges. Inactivity fees may apply if an account remains dormant for an extended period. Additionally, some platforms may impose usage fees, and overnight interest (swap rates) can incur costs for holding positions overnight. Currency conversion fees may also apply depending on the account’s base currency and the currency of the traded assets.
