Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
ICM Brokers Pros & Cons
- Access to Forex and CFD markets through MetaTrader 5.
- Ability to use leverage.
- Support for mobile trading.
- Several account types, including a demo account.
- Simple user account interface.
- Access to analytics, price charts, and an economic calendar.
- Support for multiple deposit methods.
- No cent accounts.
- Limited educational materials.
- Offshore company registration.
ICM Brokers is an online broker providing access to Forex and CFD trading through the MetaTrader 5 (MT5) platform. The company is regulated by the Financial Services Commission (FSC) Mauritius under license No. GB24203068. It is also registered with the Financial Services Authority (SVG FSA) of Saint Vincent and the Grenadines under No. 1956 LLC 2022. ICM Brokers offers more than 200 financial instruments, including currency pairs, indices, stocks, cryptocurrencies, and commodities as CFDs. Traders also have access to analytical tools. Leverage is up to 1:1000.
TU Expert Verdict
ICM Brokers carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
ICM Brokers User Reviews
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5-star
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3-star
11%
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1-star
89%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria5 /10The trading and non-trading commissions of ICM Brokers have been analyzed and rated as having Medium fees, with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of ICM Brokers with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, ICM Brokers’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
ICM Brokers Standard spreads ICM Brokers OANDA FOREX.com EUR/USD min, pips 0.1 0.1 0.7 EUR/USD max, pips 0.3 0.5 1.2 GPB/USD min, pips 0.1 0.1 0.9 GPB/USD max, pips 0.3 0.5 1.4 Does ICM Brokers support RAW/ECN accounts?
As we discovered, ICM Brokers does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with ICM Brokers. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
ICM Brokers Non-Trading Fees ICM Brokers OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is ICM Brokers Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria3.9 /10ICM Brokers has a safety score of 3.9/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
ICM Brokers Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level
FSC (Mauritius) Full Name Financial Services Commission of Mauritius Country of regulation Mauritius Investor Protection Fund No specific fund Regulation Level Tier-3 SVG FSA
Full Name Financial Services Authority of St. Vincent and the Grenadines Country of regulation St. Vincent and the Grenadines Investor Protection Fund No specific fund Regulation Level Tier-3 ICM Brokers Security Factors Foundation date - Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.1.6 /10ICM Brokers offers the following account options: Demo, Standard, VIP.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Demo account
- Exclusive VIP account with enhanced trading conditions
- No ECN/Raw spread account
- No Cent account
ICM Brokers account types vs top competitors ICM Brokers Plus500 Trading.com Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP YesNoNoManaged NoNoNoICM Brokers accounts trading conditions
The company offers several account types designed for traders with different levels of experience and trading styles. Before entering the live market, traders can practice on a demo account in the MT5 trading platform.
Account types:
Account Type Description Edge An MT5 account that allows trading more than 200 instruments. The minimum deposit is $250. Leverage is up to 1:500. Edge Plus An account with spreads from 0.9 pips and leverage up to 1:1000. Trading can begin with a deposit from $50. Demo An account with a virtual balance that allows trading in a simulated market environment without financial risk. -
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology3.5 /10ICM Brokers received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
ICM Brokers offers limited payment options and accessibility, which may impact its competitiveness.
- Minimum deposit below industry average
- No deposit fee
- Bank card deposits and withdrawals
- Bank wire transfers available
- Withdrawal fee applies
- Limited deposit and withdrawal flexibility, leading to higher costs
- High minimum withdrawal requirement
What are ICM Brokers deposit and withdrawal options?
ICM Brokers offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire. This limitation may restrict flexibility for users, making ICM Brokers less competitive for those seeking diverse payment options.
ICM Brokers Deposit and Withdrawal Methods vs Competitors ICM Brokers Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC NoNoNoWhat are ICM Brokers base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. ICM Brokers supports the following base account currencies: USD.
What are ICM Brokers's minimum deposit and withdrawal amounts?
The minimum deposit on ICM Brokers is $50, while the minimum withdrawal amount is . These minimums may vary depending on the chosen account type and payment method. For specific details, please contact ICM Brokers’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria4.8 /10ICM Brokers offers a limited selection of trading assets compared to the market average. The platform supports 200 assets in total, including 28 Forex pairs.
- Crypto trading
- Copy trading platform
- Commodity futures are available
- Small selection of currency pairs
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by ICM Brokers with its competitors, making it easier for you to find the perfect fit.
ICM Brokers Plus500 Trading.com Currency pairs 28 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 200 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products ICM Brokers offers for beginner traders and investors who prefer not to engage in active trading.
ICM Brokers Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at ICM Brokers by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.9 /10We successfully registered an account with ICM Brokers in 8 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at ICM Brokers is $50. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Fast registration time (up to 15 minutes)
- Fully online account opening process
- Account approval may require extra time depending on the documentation.
ICM Brokers account opening ICM Brokers Plus500 Trading.com Online Registration YesYesYesMinimum deposit $50 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 8 20 KYC time (days) 2 3 2 Is ICM Brokers available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
ICM Brokers accounts can be opened on the broker’s website.
To open an account:
Click "Open Live Account" on the right side of any page on the website.
Enter your first name, last name, country, phone number, and email address.
Confirm your email and log in to the user account.
Upload documents to verify personal data and address.
Features of ICM Brokers user account allow traders to:
- View a summary of active accounts.
- Deposit funds.
- Submit withdrawal requests.
- Contact customer support.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.4 /10ICM Brokers received a score of 7.4/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- MetaTrader is available
- One-click trading
- Strategy (EA) Builder is available
- Trading bots (EAs) allowed
- No TradingView integration
- No access to Free VPS
- No access to cTrader and its advanced tools.
Supported trading platforms
ICM Brokers supports the following trading platforms: MT4, MT5, WebTrader. This selection covers the basic needs of most retail traders. We also compared ICM Brokers’s platform availability with that of top competitors to assess its relative market position.
ICM Brokers Plus500 Trading.com MT4 YesNoNoMT5 YesNoYescTrader NoNoNoTradingView NoYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader YesYesYesKey ICM Brokers’s trading platform features
We also evaluated whether ICM Brokers offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA NoAlerts YesTrading bots (EAs) YesOne-click trading YesScalping YesSupported indicators 68 Tradable assets 200 Additional trading tools
ICM Brokers offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
ICM Brokers trading tools vs competitors ICM Brokers Plus500 Trading.com Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. NoNoYesAPI NoNoNoFree VPS NoNoNoStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. YesNoNoAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. NoNoNo -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria7 /10ICM Brokers supports mobile trading, offering dedicated apps for both iOS and Android. ICM Brokers received a score of 7/10 in this section, indicating a generally acceptable mobile trading experience.
- Solid iOS user feedback, with a rating of 4.7/5
- Mobile alerts supported
- Strong Android user ratings, currently at 4.8/5
- Mobile 2FA not supported
We compared ICM Brokers with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
ICM Brokers Plus500 Trading.com Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 10,000,000 10,000,000 50,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 4.7 4.7 4.8 Google Play score 4.8 4.4 4.7 Mob. 2FA NoYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at ICM Brokers by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria2.3 /10ICM Brokers demonstrates a low level of customer support reliability. Contacting support can be difficult, and responses may be significantly delayed or incomplete.
During testing, managers were slow to respond or failed to provide sufficient assistance. Such a support level may create risks for traders who require timely issue resolution.
InformationICM Brokers provides customer support through several communication channels, including popular messengers. However, response times are not particularly fast, and the quality of responses can be inconsistent.
- Chat is available on the broker’s website
- Phone contact is available
- The chatbot does not always respond correctly to requests on the first attempt
- No 24/7 support access
Available communication channels:
- Chat on the broker’s website and in the user account.
- Phone.
- Email.
- Telegram.
- WhatsApp.
- Contact form in the contacts section of the website.
Contacts Registration address Office 306, 3rd Floor, Ebene Junction, Rue de la Democratie, Ebene, Republic of MauritiusSuite 382, Beachmont Business Centre, Kingstown, Saint Vincent & the Grenadines Regulation FSC, SVG FSA Licence number:
GB24203068, 1956 LLC 2022Official site https://www.icmbrokers.com/ Contacts info@icmbrokers.com +1-762-239-3001
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FAQs
How is ICM Brokers regulated and what does its safety score indicate?
ICM Brokers is regulated by the Financial Services Commission of Mauritius (FSC Mauritius) and the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), both categorized as Tier-3 regulators with no specific investor compensation fund mentioned. The broker has a safety score of 3.9/10, described as a low security level, although it does provide negative balance protection and requires KYC verification.
What account types and key trading conditions are offered by ICM Brokers?
ICM Brokers offers Edge, Edge Plus, VIP, Standard (as listed in the comparison table), and Demo accounts, though the text also notes that a Standard account is not provided, which is presented as a drawback. Edge requires a $250 minimum deposit with leverage up to 1:500, while Edge Plus starts from $50 with leverage up to 1:1000, and micro-lot, ECN/raw spread, cent, swap-free, and managed accounts are not available according to the section.
What do user reviews and feedback say about ICM Brokers?
ICM Brokers has a user satisfaction score of 2.4/10 based on 9 reviews, with 89% of them being 1-star and 11% being 3-star, indicating that overall reviews are mostly negative. According to user reviews, there are no 4-star or 5-star ratings reported in this section.
What markets and tradable assets are available at ICM Brokers according to user feedback and reviews?
ICM Brokers provides access to 200 tradable assets, including 28 currency pairs, stocks, stock indices, commodity futures, and cryptocurrencies, but does not offer options, bonds, or ETFs. The section also notes that the broker supports copy trading but not PAMM or managed accounts, and describes the overall asset selection and currency pair range as limited compared with the market average.
How do clients describe the ICM Brokers account opening process in reviews and comments?
The account opening process at ICM Brokers is fully online, with registration reportedly completed in about 8 minutes and KYC verification in approximately 2 business days, and the minimum deposit is stated as $50. The section describes this onboarding as accessible and relatively hassle-free, while also noting that account approval may take extra time depending on the documents provided.
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