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.
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
0%
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4-star
0%
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3-star
11%
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2-star
0%
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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, ZForex and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
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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
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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, ICM Brokers does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Demo account
- Standard account with balanced trading conditions
- Exclusive VIP account with enhanced trading conditions
- No ECN/Raw spread account
- Micro lots are not available
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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.
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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.
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Trading Account Opening
We 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.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 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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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.
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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 /10 -
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 /10
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FAQs
How is ICM Brokers regulated and what does its safety score indicate?
ICM Brokers has a safety score of 3.9/10, which corresponds to a low security level in this review. It is regulated by the Financial Services Commission of Mauritius (FSC) and the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), both classified as Tier-3 regulators with no specific investor protection fund mentioned. The broker offers negative balance protection and requires KYC verification, while its foundation date is not specified in the section.
What commissions and trading fees does ICM Brokers charge?
ICM Brokers is rated with a fees score of 5/10, indicating medium overall commissions and fees. For Standard accounts, trading costs are included in floating spreads, with typical EUR/USD and GBP/USD spreads ranging from 0.1 to 0.3 pips under normal conditions, and the broker does not charge deposit or inactivity fees. The review notes above-average Forex trading fees overall and confirms that RAW/ECN accounts are not offered.
What do user reviews and feedback reveal about ICM Brokers?
ICM Brokers has a user satisfaction score of 2.4/10 based on 9 reviews, with 89% of ratings at 1 star and 11% at 3 stars. This distribution indicates that overall user reviews are mostly negative. According to user reviews, higher ratings are rare in the available feedback.
What deposit and withdrawal options and limits does ICM Brokers provide?
ICM Brokers supports deposits and withdrawals via bank cards and bank wire transfers, with no deposit fee and a minimum deposit of $50. The broker does not accept BTC or PayPal, and the minimum withdrawal amount is not specified in the section. Only USD is listed as a base account currency, and the review notes limited payment flexibility, which may lead to higher costs.
What trading platforms and tools do user reviews and feedback highlight at ICM Brokers?
ICM Brokers offers MT4, MT5, and a WebTrader platform, and it allows trading bots (EAs), one-click trading, scalping, and access to 68 indicators across about 200 tradable assets. The broker provides a strategy (EA) builder but does not offer TradingView integration, a proprietary platform, free VPS, Trading Central, Autochartist, or an API. The platforms and tools are rated 7.4/10 in this review, suggesting an average level of functionality without some advanced extras mentioned in feedback-style assessments.
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