International Capital Market Brokers
Founded in 2007
Online since 2007
No regulation (St. Vincent and the Grenadines)
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ICM Brokers Review: Comprehensive Insight for Trader Decisions
As a seasoned trading broker reviewer with DayFunded, today I'll delve into the intricate world of the ICM Brokers. Established in 2007, ICM Brokers, has been stably operating for over a decade, offering traders unique features, including phone trading, segregated accounts, and trading contests. However, with their approach to trader friendliness, are they the right broker for your trading needs? This review will provide you with the essentials to help you make that vital decision.
Minimum Account Size and Position
Finding a broker with a low minimum account size is the goal of many newcomers in the trading circle—especially those on a tight budget. ICM Brokers' minimum account size is just $250—a relatively accessible amount for most individuals. This low entry threshold allows a broader range of traders to participate. Additionally, the minimum position size is 1, making it easier for traders to manage their funds effectively without straining their finances.
Broker Rating & Reputation
The average broker rating is a critical factor to consider when choosing a trading broker. Although the specific average rating for ICM Brokers isn't specified here, it's vital to do thorough research on this before you make a decision. Remember, a higher rating generally suggests more satisfied clients.
Regulation and Security
ICM Brokers does not have any explicit serious regulations. While this might be an area of concern for some risk-averse traders, it should be noted that ICM Brokers are quite transparent in their operations. Traders need to do their due diligence and assess the measure of safety and security offered by the broker.
Spread & Fees
ICM Brokers has generally low spreads, an advantageous point for people enthusiastic about trading. Lower spreads indicate lower trading costs and potentially higher profits. However, always inquire about other hidden fees that may affect overall trading costs.
Available Services and Features
ICM Brokers stands out with unique features like trading by phone—perfect for those old school traders who prefer a more personal touch. In the age of technology-driven trading, having the option to trade over the phone is quite a rich feature.
Segregated accounts are another critical feature offered by ICM Brokers. This feature assures that your funds are safe and separated from the broker's principal funds.
And for those who enjoy a little competition, ICM Brokers regularly organizes trading contests. This offers traders an opportunity to test their trading skills against others in the market.
Accessibility for US Traders & Leverage
Unfortunately, ICM Brokers do not cater to US traders as they aren't US-friendly. This limits the range of traders who can access their services. As for leverage, the details provided are unclear. It is therefore essential to contact the broker directly for precise information on this topic.
Conclusion
Overall, ICM Brokers are commendable in their low spread and entry threshold, along with offering attractive features such as phone trading. Despite lacking specific regulatory scrutiny and not being open for US traders, they provide a noteworthy service that could be beneficial to many traders. As a trader, your ultimate choice is personal and should take into account your own preferences and risk tolerance.
