InterCapital Markets: FSC licence RG-03-0204

Onboarding runs through the firm's client portal at icmrk.com, which it describes as fully online. Registration starts with an email address and password, followed by email confirmation, a know your customer form and a summary step. Existing clients are also directed there to keep their details current.

The firm states that client assets are held in segregated accounts, separate from its own funds, and that it is a member of the Investor Compensation Fund, which covers non professional clients for up to ninety per cent of a claim to a maximum of twenty thousand euro. These are the firm's own published statements and were not separately confirmed in this research.

Pricing is commission based. The firm says it applies the same low commission to share trades on most Western European markets and a per share commission on United States and Canadian markets, and that it adds no mark up to the financing rates of the international brokers it uses. The figures themselves are in the standard tariff and the ICMFX tariff on the documents page. A revised tariff applies to new clients from 15 March 2026.

The firm describes multi currency brokerage accounts and names the ICM 1 account, for cash instruments such as shares, bonds, ETFs and mutual funds paid for in full. It also promotes an ICM Easy Gold account for exposure to gold through a financial instrument, at a stated risk level of six out of seven. The multi currency feature lets an account be funded in one currency and traded or withdrawn in another.

The main platform is the Infront terminal, available as a desktop application, a web trader and mobile apps for iOS and Android, with data from more than 55 exchanges, MTFs and contributing brokers. The firm also distributes its own ICMFX desktop application. MetaTrader 4, MetaTrader 5 and cTrader are not offered.

No maximum leverage is stated anywhere on the public website. The firm publishes a separate margin schedule for its ICMFX application among its downloadable documents, and that is where any margin and leverage terms are set out. Nothing is quoted here that the site does not state.

The firm does not publish a headline minimum deposit on its website. Funding thresholds, if any, sit inside its general terms of business and standard tariff, which it publishes on its documents page. Ask the firm directly or read the current tariff before opening an account.

The company says it was founded in 2001 and licensed for investment brokerage in 2003, and describes more than two decades of operation. Its file in the Bulgarian Commercial Register is company case 2709/2003, which is consistent with that account. This is a long operating history by the standards of the sector.

Nothing found in this research points that way. The brand maps to a single named Bulgarian company whose registration is live on the official register, at the same Sofia address the site publishes, with the express designation of investment intermediary. It names its executives publicly and publishes its full legal document set. The open point is the licence itself, which the firm publishes but which was not confirmed against the authority's own register here.

The operating company is Intercapital Markets AD, a Bulgarian joint stock company registered in the Commercial Register under unified identification code 131057477, with its seat at 140 Georgi Rakovski Street, floor 6, Sofia 1000. The company says it is owned by ten Bulgarian individual shareholders and run by a four member board with two executive directors who may act only together.

Intercapital Markets AD states on its own regulations page that it is authorised and regulated by the Bulgarian Financial Supervision Commission under licence RG-03-0204, dated 24 February 2006. That is the firm's own published claim. It was not independently confirmed against the authority's register in this research, so treat the licence as stated by the broker rather than verified, and check the number with the authority directly before funding an account.