ICMbrokers

ICM Brokers is an international brokerage founded in 2007 and registered in Saint Vincent and the Grenadines under the full name International Capital Markets Brokers LLC; its country in the Teagle profile is listed as Mauritius. In this overview, we review ICM Brokers' licenses, accounts, payments and risks based on Teagle data. The Teagle expert's assessment, in short, is that this broker's risk is above average.

What kind of broker is ICM Brokers?

ICM Brokers presents itself as an entity specializing in online trade execution and clearing, and emphasizes adherence to standards of risk management, compliance and integrity. According to the company, client deposits are held with reputable financial institutions, and the broker uses a network of international banks to hedge risk. Tradable instruments include forex, commodities, indices, stocks and cryptocurrencies. We have reviewed this broker's execution model in the article The DMA/STP execution model at ICM Brokers .

ICM Brokers licenses and credibility

According to Teagle's latest review, the status of ICM Brokers' licenses is as follows:

• FSC Mauritius (No. GB24203068): active;
• FSA (No. 24884): active;
• FSA Saint Vincent and the Grenadines: listed, but its number and status are not recorded.

All of these licenses are considered offshore and weak and do not provide strong legal protection for clients. To weigh this risk, read the article The difference between offshore and onshore brokers and the guide Broker regulation tiers .

Does ICM Brokers serve Iranians?

Teagle's data on this is inconsistent. The profile tags list a Persian website and support and services for Iran, and Rial, Tether and TopChange payment methods are also available. However, ICM's official website states that the broker does not serve users residing in Iran, and according to the Teagle team's review and the messages sent, Persian support does not appear to exist in practice. If an Iranian IP or nationality is detected, the account may be closed; so profit withdrawals are not guaranteed for Iranians. Accessing the website also requires changing your IP.

ICM Brokers trading accounts

According to Teagle's table, this broker offers three account types on MetaTrader 4, all with a minimum trade size of 0.01 lot, a 100% margin call, a 10% stop-out and an Islamic account option:

• Standard account: minimum deposit $50, fixed spread and leverage up to 1:400.
• Prime account: minimum deposit $50, fixed spread from 2 pips and leverage up to 1:400.
• Crypto account: minimum deposit $1000, 0.5 pip spread and 1:5 leverage.

Commission is not recorded in Teagle's table. The Teagle expert considers this broker's trading costs, namely a fixed spread of 2 pips or a floating spread of 1.2 pips, uncompetitive compared with global standards. The spread figure recorded for the Standard account in the table does not match this assessment, so confirm it on the broker's website. To gauge the real cost, read Spread in forex trading .

ICM Brokers platforms and services

ICM Brokers' only trading platform is MetaTrader 4, which provides standard technical analysis and charting tools. Expert advisors, scalping, hedging, news trading and phone trading are allowed. Additional services are limited and include rebates, referral rewards, bonuses, an economic calendar, a calculator and a glossary. If your style is scalping, also see the list of Best brokers for scalping in Iran .

Deposits and withdrawals at ICM Brokers

The Teagle expert considers the payment methods this broker's most important and perhaps only real competitive advantage. According to Teagle's table, the minimum deposit and withdrawal for all methods is the equivalent of $50. Rial payments are fee-free, with deposits taking from instant to a few hours and withdrawals less than 1 hour. TopChange is also fee-free, with processing in under 1 hour. Tether deposits take from instant to 24 hours and withdrawals 1 to 2 hours, and the withdrawal fee depends on the currency type. However, the Teagle expert's serious warning is that, based on numerous and ongoing reports from Iranian users, there is a risk of profit withdrawals being restricted or significantly delayed, and support is unresponsive in such cases. If you use Tether, review Common mistakes when buying Tether .

ICM Brokers' rating and risk on Teagle

ICM Brokers' final rating on Teagle is 1.61 out of 5, derived from the average of four sources: Trustpilot 2.9, Forex Peace Army 2.41, WikiFX 1.14 and the Teagle expert rating, which is recorded as zero. No ratings from Teagle users have been recorded yet. The Teagle Eye risk index for this broker is 52 out of 100, in the "medium risk" category; its 19-year track record has raised the safety score, but offshore licenses and low reputation ratings have pulled it down.

Pros and cons of ICM Brokers

• Pro: fee-free Rial, Tether and TopChange deposits and withdrawals
• Pro: a fixed-spread account that appeals to some beginners
• Pro: operating since 2007, with scalping and hedging allowed
• Con: serious risk of restricted or delayed profit withdrawals
• Con: ineffective support in critical situations and uncertainty about Persian support
• Con: weak offshore licenses and an official statement of not serving Iran
• Con: uncompetitive spreads and MetaTrader 4 as the only platform

Who is ICM Brokers suitable for?

Given the accounts and client reviews, the Teagle expert advises users to consider a more trustworthy broker with better conditions, as many of this broker's clients are not satisfied with its service. If you are considering it because of its payment methods, before deciding see ICM Brokers vs. IFC Markets comparison .

Conclusion

ICM Brokers is convenient for Rial payments, but weak licenses, repeated reports of withdrawal problems and uncertainty about serving Iranians make it high-risk. If you still intend to use it, start with the minimum amount, make a test withdrawal before any trading, and follow the latest warnings on the investment risk warning page .