ICAP licences

ICAP publishes no leverage, because it does not run retail margin accounts. No leverage cap or account tier appears anywhere on its site.

ICAP is a broking brand of TP ICAP Group plc, which the group states is registered in Jersey under number 130617. The entities recorded behind the business are mainly United Kingdom companies, including TP ICAP Broking Limited (2670499), TP ICAP Markets Limited (00500777), TP ICAP MTF Limited (01852009) and ICAP Global Derivatives Limited (03635229), alongside TP ICAP (Europe) S.A. in France, TP ICAP Global Markets Americas LLC in the United States and ICAP Energy AS in Norway.

No. ICAP publishes no MetaTrader, cTrader or other third party retail platform, and there is no download page anywhere on its site. It runs its own institutional platforms instead.

ICAP offers its own institutional platforms. Fusion is its flagship electronic platform, covering foreign exchange, rates, equities, fixed income, local markets and Asian non deliverable forwards, with volume matching and price discovery tools. i-Swap is an electronic venue for interest rate swaps run as a joint venture between TP ICAP and eight dealer firms, and the ICRV platform handles order entry for multi leg United States Treasury, futures and options strategies.

No. ICAP is a wholesale broker between financial institutions, and its site has no client login, no onboarding form and no payment page. Platform access is granted to employees of institutional customers that have already signed the group customer documentation, which includes the onboarding agreements, the relevant venue rulebook or system protocol and a trader authorisation form.

ICAP brokers wholesale market instruments rather than retail products, organised by desk: Rates, Foreign Exchange and Emerging Markets, Credit, Money Markets and Equities, together with ICAP Relative Value for United States Treasuries, futures and options, an Energy and Commodities business and a Global Nuclear Fuels Desk.

It is an intermediary between financial institutions, so there are no retail forex or CFD accounts, no MetaTrader platforms and no published spreads.

ICAP publishes no minimum deposit, because it does not operate funded retail trading accounts. Its site has no account tiers, no pricing page and no onboarding form, and platform access is granted to employees of institutions already onboarded under the group customer documentation.

ICAP publishes no deposit or withdrawal methods. There is no funding or payment page on its site, no client wallet and no card or e-wallet option, because the business brokers between institutions rather than holding retail client money.

Anyone asked to deposit money into an ICAP retail trading account should verify who they are dealing with directly with the company.

Yes. The Financial Conduct Authority register shows several group companies as Authorised, including TP ICAP Markets Limited (FRN 124520), TP ICAP Broking Limited (FRN 154234) and ICAP Global Derivatives Limited (FRN 191757). The broking companies behind the ICAP brand are United Kingdom incorporated firms within TP ICAP Group plc, which the group states is registered in Jersey under number 130617.

The group states that it does not offer services to retail investors. Regulation is also not the same as safety, and because ICAP serves institutions rather than individuals, the retail protections a private client would look for are not part of what it offers.