ICM Capital Incurs Around £1M Loss in 2022, Relinquishes Retail Business

Fazzaco learned that ICM Capital, the UK branch of ICM.com, an online Forex, commodity and CFD trading firm, has released its financial results for 2022, unveiling another year of heavy losses. Besides, the broker has decided to exit the retail segment, to shift its focus on professional clients.

ICM Capital incurred a loss of 989,081 for 2022, compared to £1,117,789 in 2021. The company booked negative turnover of -£266,160, compared to -£194,390 in the previous year. In 2020, however, it generated revenues of £2.6 million.

Gross loss for the year amounted to £297,678, rising from the prior year's £189,715. Operating loss dropped to £1,326,835 from £1,477,026. Administrative expenses were £2,042,041, down from £3,852,734 in 2021.

In addition, ICM Capital held net assets of £2,286,864 by 2022-end, declining from £3,275,945 in 2021.

Fazzaco reported that ICM.com this year has seen the departure of Senior Regional Manager, Wael Hammad, and Business Development Manager, Joanna Atwi​.