ICM.com finally surrendered its Financial Conduct Authority (FCA) license on 2 April 2026, almost two long years after applying to have its UK license revoked. But the reason for this delay is still unclear.
Finance Magnates previously reported on the broker It plans to surrender its FCA license in 2024following a notice published on the registration page of the UK regulatory body.
Why are brokers leaving the UK?
After handing over the license, the company ended its services within its unit in the United Kingdom. Its UK website is also not working, displaying a message urging customers to contact customer service to “arrange the withdrawal of any remaining funds”.
The broker also withdrew its retail activities around 2023 after making a loss of £1 million for the 2022 financial year.
Although the company has not publicly explained its decision to exit the UK, it is one of several brokers to end its presence in the country. AETOS, ADSS, FXTM, HTFX and GMI Markets are just some of the brands that have left the UK market over the past few years. While for most brokers the decision was a geostrategic move, for a few it was part of a broader global withdrawal.
ICM.com obtained an FCA license in mid-2011, according to the FCA registry.
The UK is difficult, but still attracts brokers
Despite the UK’s exit, ICM.com remains regulated in other jurisdictions. Its website shows that the broker holds licenses from regulators in Mauritius and Seychelles, which are considered offshore jurisdictions. It also carries Two licenses in the United Arab EmiratesOne is in Dubai and the other is in Abu Dhabi. The broker also operates a subsidiary licensed in Switzerland.
While ICM.com and other companies have left the UK, a few have entered the country. Among them were Ultima Markets and Moneta Markets, both of which obtained their FCA license last year by acquiring existing companies in the country rather than seeking new licences.
At the end of 2024, the British regulator revealed that about 20 percent of local CFD brokers, including spread betting and forex trading service providers, were conducting little or no activity, describing them as “halo firms.”
Finance Magnates previously reported that there are 74 FCA regulated companies authorized to offer CFD products to retail traders In the United Kingdom from 1 December 2025.
This article was written by Arnab Shomi at www.financemagnates.com.
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