ICM Capital Makes an U-Turn by Applying for FCA License Cancellation

Story Highlights

• ICM Capital, a forex and CFD broker, is exiting the UK market.
• The company focuses on global expansion with licenses in Abu Dhabi, South Africa, and more.
• Despite the UK exit, ICM.com remains committed to customer service and is expanding into Qatar and Jordan.

ICM Capital, a well-known forex and CFD broker, is bidding farewell to the UK market. The company recently surprised everyone by applying to cancel its license with the Financial Conduct Authority (FCA). This unexpected move hints at a strategic shift, with ICM.com setting its sights on greener pastures elsewhere.

Farewell, Blighty. Hello, World!

The reasons behind ICM.com’s UK exit remain shrouded in mystery. However, one thing’s for sure: the company isn’t packing its bags and heading home. ICM.com boasts a strong global presence, holding licenses in financial hubs like Abu Dhabi, Mauritius, and South Africa. Interestingly, the FCA stressed that ICM.com “must still meet our standards in dealing with its customers” during this transition.

A Brand Revamp for Global Ambitions

This news comes after ICM.com’s successful 2018 makeover. The company, ICM Capital, underwent a brand refresh back then, consolidating all its entities under the ICM.com banner. This transformation came with a sleek new logo and a revamped website. Founder Shoaib Abedi emphasized ICM.com’s dedication to exceptional customer service, deep market knowledge, reliable execution, and creating a rewarding experience for investors worldwide.

Beyond the Bullring: A Multi-Pronged Expansion

While the UK exit might raise eyebrows, ICM.com’s expansion efforts elsewhere are full steam ahead. The company has been actively involved in sports sponsorships, partnering with prestigious teams like Fulham Football Club. In 2021, ICM.com made a strategic move into the Qatari market, establishing a physical office in Doha after receiving authorization from the Qatar Financial Centre. This expansion aligns with Abedi’s vision of continuous growth, even amidst global economic uncertainties. ICM.com’s expansion spree also included entering the Jordanian market and adding hundreds of US stock CFDs to their investment offerings.

ICM.com’s decision to leave the UK market marks a significant pivot towards flourishing regions. While the reasons remain unclear, the company’s commitment to global expansion and exceptional customer service is evident. It seems ICM.com is well on its way to conquering new financial frontiers, leaving the UK market in the rearview mirror.