Leverage*
Leverage applies to FOREX only. High leverage may increase the potential of increasing your profit. The high degree of leverage can work against you as well as for if the currency underlying one of your trades moves in the opposite direction of your position. Leverage will greatly increase your potential losses. To reduce the risk of these losses, we advise you to restrict the use of leverage and adopt a strict trading style that includes the use of stop and limit orders. We offer a default leverage of 1:100 for our standard accounts. If you wish to change your leverage, you may ask to reduce or increase their leverage by sending us a Leverage Modification Request Form (subject to ICM Capital approval).

Gapping/Slippage**
"Gapping" refers to an occurrence whereby the market moves from one quoted price and that this second quote is significantly different to the first. Where such an event happens and where the second quote is through an order level (Stop Loss, Limit or New Order), when the first quote was not, this may trigger a Gapping event.

There are a variety of reasons why this might happen. Some of the more usual, because the particular Underlying Market on which the order is placed has opened and started trading at a price significantly different from the previous session closing price; or during trading hours the Underlying Market may have become unusually volatile or illiquid for a period of time causing sudden dramatic price movements; or the Underlying Market may have gapped from one traded price to another, significantly different, traded price due to a piece of economic, political, environmental or corporate news.

Moreover, we advise clients to limit exposure when holding positions over the weekend or prior to market closing or during release of any political events and be aware that such gaps may occur.

Re-Quotes***
At ICM Capital all trades execution are automated. When a client clicks on a price to trade, it is possible that clicked price has changed due to high volatility in the market, news releases, monetary policy changes and fundamental news announcement, and as such we cannot guarantee the price clicked since it does not reflect the fair and correct market price. At ICM Capital we believe in treating all customer fairly specially with dealing execution and in a case the price has changed; ICM Capital will confirm to the client at a better price if the market has shifted in clients favor or worse price if the price has shifted against the client.

Finally clients can always set their deviation to minimum 1 pip in order to further benefit from ICM Capital no re-quote policy.

Expert Advisors
At ICM Capital all clients can benefit from auto trading. Use of Expert advisor in the terminal are programs written in MetaQuotes Language 4 and allowing to analyze and trade in the automatic mode on behalf of client. ICM Capital is not liable for any trading loss when using expert advisor and may cancel trades if they EA is set to abuse our automated service. We at ICM Capital may at our sole discretion de-activate this feature if the client is deemed to be using the feature for abusive purposes.

Swap-free accounts
All accounts of ICM Capital are Swap-free by default. Swap-free accounts are trading accounts in adherence with Islamic religious principles.

The overnight which is charged or paid as the price difference between rollover close and open trades is not applied to swap-free-accounts. There is no roll over on the spot products.

Swap-free-accounts shall be used strictly in good faith for Muslim religious compliance reasons only. ICM Capital may decline / cancel the use of swap-free-accounts, at its own discretion.

All users of swap-free-accounts shall agree with terms and conditions

ICM Capital reserves the right to get compensation from the client in case the latter has used a swap-free-account in bad faith and / or has breached the terms and conditions.

ICM Capital may change, modify or amend in part, or fully, the above described overnight policy according to the situation on the market.

Non Islamic Accounts
For the main countries, the calculation of overnight swap prices is commonly based on the central bank reference rates shown in the table below. Overnight swap rates change with changes in the interest rate differentials of the two currencies involved. However, it must be stressed that ICM Capital uses its own rates which are based on interbank market overnight swaps plus the mark-up charged by the company in which is position is held, depending on the type of the position (long/short).

*Cost of carry rates in the table above are denoted in "pips".

It is important to remember that you can gain or lose on swap As seen in the above table, there are cases on some instruments that have negative swap values on both sides, because ICM Capital charges its own mark-up on the interest rate differential of the overnight rate of the two currencies, and therefore the positive and negative values are decreased accordingly.