InterCapital Markets

InterCapital Markets Broker Overview

InterCapital Markets is the trading name of Intercapital Markets AD, a boutique brokerage firm based in Sofia, Bulgaria. The company states on its own site that it was founded in 2001 by Nicolay Mayster and obtained its investment brokerage licence from the Bulgarian Financial Supervision Commission in 2003. It is a member of the Bulgarian Stock Exchange in Sofia and a clearing member of the Central Depository in Bulgaria. The business is agency brokerage rather than retail contracts for difference dealing: clients trade cash instruments such as shares, bonds, ETFs and funds on local and international venues through the Infront terminal, and the firm also offers discretionary portfolio management.

InterCapital Markets Regulation and License

The regulation page published by Intercapital Markets AD states that the company is authorised and regulated by the Bulgarian Financial Supervision Commission under licence number RG-03-0204 dated 24 February 2006, and that this permits it to receive and execute client instructions in all types of financial instruments across all available exchanges as well as to manage client assets on a discretionary basis under an asset management agreement. This is the broker's own statement of its regulatory position. WIKILIX did not confirm the entry against the authority's own register in this research, so the licence is recorded here as claimed rather than independently confirmed.

Is InterCapital Markets Regulated?

Intercapital Markets AD presents itself as a licensed Bulgarian investment intermediary, and the profile it publishes is consistent with an onshore European firm rather than an offshore one. The registered corporate record for the company carries the express designation of investment intermediary, which supports the broker's account of what it does, although a corporate record is not itself a financial licence. A reader who needs certainty on the licence should confirm the number directly with the authority before funding an account.

Intercapital Markets AD

Intercapital Markets AD is registered in the Bulgarian Commercial Register under unified identification code 131057477, in the form of a joint stock company, with its seat at 140 Georgi Rakovski Street, floor 6, Sofia 1000. The company reports that it is owned by ten Bulgarian individual shareholders and managed by a four member board of directors, with two executive directors who may act only together. It names its executives and its head of regulatory compliance on its own site, which is an unusually open level of disclosure.

InterCapital Markets Account Types

The firm offers multi currency brokerage accounts and names the ICM 1 account for cash instruments such as shares, bonds, ETFs and mutual funds, where the value of the instrument is paid in full. The multi currency feature allows an account to be funded in one currency and used to trade or withdraw in another. A separate ICM Easy Gold account is promoted for exposure to gold through a financial instrument rather than physical metal, and the firm states its risk level as six out of seven.

InterCapital Markets Spreads, Commissions and Fees

Pricing is commission based rather than spread based. Intercapital Markets AD states that it charges the same low commission for share trades on most Western European markets and a per share commission on United States and Canadian markets, and that it does not add a mark up to the financing rates of the international brokers it uses. The exact figures live in the standard tariff and the ICMFX tariff, which the firm publishes on its documents page. The firm notified clients that a revised general tariff and general terms of business take effect for new clients from 15 March 2026, including changes to commissions on certain European markets and to the Investor Compensation Fund charge.

InterCapital Markets Trading Platforms

Trading and market data are delivered through the Infront terminal in desktop and web form, with Infront mobile applications for iOS and Android. Intercapital Markets AD says it was among the first brokers to launch the new Infront Web Trader and offers a free demo of it. The firm also publishes a downloadable ICMFX desktop application, with its own tariff, instrument list and margin schedule. MetaTrader and cTrader are not offered.

InterCapital Markets Support

The company publishes a Sofia telephone number, +359 2 921 05 10, and its client portal lists [email protected] for assistance. Onboarding and client detail updates run through the portal at icmrk.com. Service is available in English and Bulgarian.

InterCapital Markets Pros and Cons

• A named Bulgarian legal entity with a public registration number, a real Sofia office and named executives.
• An onshore European regulatory position and stated membership of the Investor Compensation Fund, which covers up to ninety per cent of a non professional client's claim to a maximum of twenty thousand euro.
• Client assets held in segregated accounts, according to the firm's own client policy.
• A professional grade multi asset terminal with wide market coverage rather than a retail leverage product.
• Commissions, minimum funding and margin terms are published only inside downloadable tariff documents, so headline costs are not visible at a glance.
• The licence number is published by the firm but was not independently confirmed against the authority's register in this research.

InterCapital Markets Review and Assessment

InterCapital Markets reads as a long established, conventionally structured Bulgarian agency broker rather than a retail leverage shop, with an identifiable operating company, a verified corporate registration and an unusually transparent account of its people and its documents. The main thing to settle before opening or funding an account is the licence itself: confirm RG-03-0204 and the scope of the permission directly with the Bulgarian Financial Supervision Commission, and read the current general terms and tariff, since the published cost schedule is where the commercial detail actually sits.