ICM.com finally surrendered its Financial Conduct Authority (FCA) license on 2 April 2026, almost two long years after it applied to cancel its UK authorisation. The reason for this delay, however, remains unclear.
Finance Magnates earlier reported on the broker’s plans to surrender its FCA license in 2024, following a notice posted on the UK regulator’s registry page.
Why Are Brokers Leaving the UK?
Following the licence surrender, the company has wrapped up its services under its UK unit. Its UK-specific website is also non-functional, displaying a message urging customers to contact customer service “to arrange withdrawal of any remaining funds”.
The broker also withdrew its retail activities around 2023 after posting a £1 million loss for the 2022 financial year.
Although the company never publicly clarified its decision to exit the UK, it is one of many brokers to end their presence in the country. AETOS, ADSS, FXTM, HTFX, and GMI Markets are only some of the brands that have left the UK market over the past few years. While for most brokers the decision was a strategic geographical move, for a few it was part of a broader global withdrawal.
ICM.com obtained its FCA license in mid-2011, according to the FCA registry.
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The UK Is Tough, but Still Attracting Brokers
Despite the UK exit, ICM.com remains regulated in other jurisdictions. Its website shows that the broker holds licences from regulators in Mauritius and Seychelles, which are regarded as offshore jurisdictions. It also holds two licences in the UAE, one in Dubai and the other in Abu Dhabi. The broker also operates a licensed subsidiary in Switzerland.
While ICM.com and other companies have left the UK, a handful have entered the country. Among them were Ultima Markets and Moneta Markets, both of which secured FCA authorisation last year by acquiring existing businesses in the country rather than seeking fresh licences.
At the end of 2024, the British regulator revealed that around 20 per cent of local CFD brokers, including spread betting and rolling forex providers, were conducting little or no activity, labelling them as ‘halo firms’.
Finance Magnates earlier reported that there were 74 FCA-regulated companies with permission to offer CFD products to retail traders in the United Kingdom as of 1 December 2025.
