ICAP broker Accounts

icap Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: icap Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commission
• Leverage Options: Up to 1:500
• Key Features: User-friendly interface, suitable for beginners
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips; commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, suitable for high-frequency trading
• Target User Profile: Advanced traders and scalpers
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads from 1.0 pip; commission of $2 per lot
• Leverage Options: Up to 1:400
• Key Features: Enhanced trading conditions, advanced tools
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, stocks

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account; no swaps
• Leverage Options: Up to 1:500
• Key Features: Complies with Sharia law, no interest charges
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as the Standard Account
• Leverage Options: Same as the Standard Account
• Key Features: Practice trading without risk, access to all trading instruments
• Target User Profile: Beginners and those testing strategies
• Trading Instruments Available: All available instruments

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginner: Standard Account
• Intermediate: Pro Account
• Advanced: ECN Account
• Muslim Traders: Islamic Account
• Practice: Demo Account

Part 2: icap Account Features Comparison

Detailed icap Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:400

• Islamic: 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 1.0 pip

• Islamic: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Mini, Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5, proprietary

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability: Yes for Islamic Account

• Swap-Free Options: Available for Islamic Account

• Demo Account Features: Full access to trading instruments, virtual funds

Advantages of Each Account Type

• Standard Account:

• Easy to use

• No commission fees

• Suitable for beginners

• ECN Account:

• Low spreads

• Direct market access

• Ideal for high-frequency trading

• Pro Account:

• Enhanced trading tools

• Competitive spreads

• Suitable for professional traders

• Islamic Account:

• Complies with Sharia law

• No interest fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading

• Practice strategies

• Full access to trading instruments

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited features for advanced traders

• ECN Account:

• Requires higher minimum deposit

• Commission fees apply

• Pro Account:

• Higher minimum deposit

• Commission fees apply

• Islamic Account:

• Limited availability of certain features

• May have restrictions on trading strategies

• Demo Account:

• Limited duration

• Virtual trading may not reflect real market conditions

Part 3: icap Account Registration Requirements

icap Account Registration Requirements

• Eligibility Criteria:

• Age Requirements: Minimum age of 18 years

• Geographic Restrictions: Available in most countries; check specific restrictions

• Prohibited Countries: Specific countries may be restricted; check with icap

• Identity Verification Documents Needed:

• Government-issued ID (passport or drivers license)

• Proof of residence (utility bill or bank statement)

• Additional Documentation for Professional Accounts:

• Proof of trading experience or qualifications

• KYC/AML Compliance Procedures:

• Verification of identity and address

• Compliance with anti-money laundering regulations

• Verification Time Frames:

• Typically 1-3 business days for account verification

Part 4: icap Account Opening Process

Step-by-Step icap Account Opening Guide

1. Visit Website and Click Registration: Go to the icap website and find the registration section.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though the mobile interface may have simplified navigation.

Common Registration Issues and Solutions

• Issue: Document upload failure
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Generally, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings to request an upgrade or downgrade.

Part 5: icap Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, virtual funds for practice.
• Benefits: Allows traders to practice strategies without financial risk.

How to Open a Demo Account

• Visit the icap website, select the demo account option, and complete the registration process.

Demo Account Limitations

• Limited duration (typically 30-90 days).
• Virtual trading may not fully replicate live market conditions.

Virtual Balance Amount

• Typically, demo accounts are funded with $10,000 in virtual currency.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after a set period, often 30-90 days, unless extended.

Part 6: icap Islamic Account Details

Islamic Account Availability

• Swap-Free/Islamic Account Availability: Yes, available for Muslim traders.

Eligibility Requirements

• Must be a practicing Muslim and comply with Sharia law.

Differences from Standard Accounts

• No interest charges (swaps) applied.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process and provide necessary documentation.

Restrictions or Special Conditions

• May have specific trading restrictions to comply with Islamic finance principles.

FAQs – icap Account Types & Opening

1. What account types does icap offer？

• icap offers Standard, ECN, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Standard: $100, ECN: $500, Pro: $1,000, Islamic: $100, Demo: Virtual funds.

1. How long does icap account verification take？

• Typically 1-3 business days.

1. Does icap offer demo accounts？

• Yes, icap offers demo accounts for practice trading.

1. Can I have multiple account types with icap？

• Yes, you can open multiple account types.

1. Does icap offer Islamic/swap-free accounts？

• Yes, icap offers Islamic accounts for Muslim traders.

1. What documents do I need to open a icap account？

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through your account settings.