IconEdit2 7.8.1 Multilingual + Portable | 21/18.3 Mb
IconEdit2 is a full-featured graphic manipulation instrument. Alpha channel, multi-resolution and multi color depth, anti-aliasing are supported seamlessly.

Easy to use
Despite advanced features, all of them are easy to use. You can manage color depths and image sizes in a mouse click. All drawing tools produce anti-aliased results automatically. You can paint, undo/redo, search for icons in your files, and create new icons instantly by capturing screen areas or opening image files or photos.
Affordable
IconEdit2 is shareware. It doesn't cost a fortune. You can download and try it before you buy. Registration includes free version upgrades (within the same major version) and support.
Features
Easy to use;
Alpha channel (semi-transparency);
Multi-image icon files;
256x256 PNG-compressed icon support;
Capture screen areas;
Search icons in your files;
Multiple Undo/Redo;
Various image filters;
Import/Export as ICO, BMP, GIF, TIFF, JPEG, or PNG.
Operating System: Windows 7, 8/8.1, 10
Home Page -
Code:
http://www.iconedit2.com/
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(Buy premium account for maximum speed and resuming ability)