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Global ICM Review | A Secure Brokerage Platform or Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
Global ICM - logo

Positive reviews about a company called Global ICM have started emerging online. It’s a CFD broker offering margin trading on a modern platform, and its headquarters is located in Switzerland. However, caution is advised before opening an account or depositing. The firm operates without regulatory licensing, and its operational history is conspicuously absent from the official website. Furthermore, essential registration documents are missing, the business model remains undisclosed, and the trading conditions are perplexing. So, is this a classic Forex scam or a secure brokerage platform? It’s a question worth exploring.

Highlights

🏛️ Country Switzerland
⚠️ Regulation
🖥️ Website https://global-icm.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:100-1:500
⚙️ Trading Platform WebTrader
📨 E-mail support@global-icm.com
📞 Phone +41215303121

First Impression of Global-icm.com

An official website serves as the face of any company and is often the first point of interaction for potential clients. Therefore, it’s crucial for a firm to design a website that’s not just visually appealing but also user-friendly, easy to navigate, and informative, especially regarding understanding the broker and its trading conditions. Additionally, the site should be optimized for fast page loading to ensure a smooth user experience. Unfortunately, Global ICM falls short in nearly all of these aspects.

Global ICM - site

The website’s color palette, comprising black and turquoise, gives the impression of entering a video game website rather than that of a professional brokerage firm. It features generic images of a digital globe, smartphones, groups of people enthusiastically discussing something, and basic line charts. That’s where graphic design ends. The site itself is formulaic, closely resembling other brokerage websites in structure: a homepage listing questionable advantages, along with a top section focusing on accounts, platforms, analytical tools, and company information. Global ICM has evidently not invested in creating something unique, instead opting for a ready-made template. Given these factors, it’s hard to view this broker as either serious or professional.

Furthermore, the site’s animated graphics considerably impede its performance. Scrolling through the page is laggy, and it takes an extended amount of time for different sections to load. It appears that the website has been neglected regarding optimization, which consequently diminishes user engagement and willingness to interact with it.

Partnership and Bonuses

Global ICM provides an affiliate program for all its clients, which includes marketing materials, a sophisticated referral and rewards tracking system, and a dedicated account manager. The maximum reward for a single referral is capped at $1,000.

To claim a deposit bonus, clients must first thoroughly read the conditions outlined in the bonus fund documentation, and then send an email to confirm their agreement with these terms of Global ICM. The awarded bonus funds cannot be withdrawn until specific requirements are met: the required trading volume, equivalent to one-fourth of the received bonus amount, must be achieved in the trading account. Trades involving CFD instruments or Forex symbols with a pip value lower than $4 per lot will not count toward this requirement. Additionally, clients have a two-month window to fulfill these conditions; failing to do so will result in the bonus amount being removed from their account balance.

The bonus policy set forth by Global ICM appears to be both unreasonable and absurd. We caution against accepting such bonuses, not only from this firm but also from others. For instance, if you deposit $500 and are granted a matching bonus of $500, then you need to make volumes of 125 lots within 60 days, which is impossible even for an experienced trader. Scam companies often exploit these kinds of schemes to induce errors from traders, thereby leading them to incur losses.

Account Opening on Global-icm.com

Registering with Global ICM involves filling out details such as your first and last name, email address, country, phone number, preferred language, and promo code (if available). However, the account creation process doesn’t end there. You should subsequently receive a confirmation email containing a password for logging into your account. Intriguingly, even after you’ve confirmed your email, Global ICM stipulates that you must get in touch with their technical support team to fully activate your account.

Registration

It seems that creating an account is unfeasible without direct communication with the company’s representatives. Activities like depositing funds, navigating to the trading accounts section, and managing money are all locked behind the activation process. However, the platform does allow users to familiarize themselves with uploading verification documents or modifying their account settings. This setup strikes us as rather odd. Furthermore, the absence of a demo account in Global ICM is a noteworthy limitation. It means you can’t even test out their services or platform without engaging with a broker representative first.

dashboard

Verification

Global ICM complies with AML and KYC policies, making identity verification mandatory for all users. Without completing the KYC process, traders cannot deposit funds into their accounts. Documents can be uploaded either directly through the user dashboard or by emailing them to docs@global-icm.com. Initially, clients must provide details such as their full name, complete residential address, date of birth, occupation, and area of employment. They must then upload to Global ICM supporting documents to confirm this information. Moreover, if a deposit is made via a bank card, a photo or scan of the card must also be uploaded, with the four digits and the CVV code obscured for security reasons.

Pros
  • The process is described in detail.
Cons
  • They require you to take a picture of your bank card.
  • Verification is mandatory. You can’t do anything without it.

Trading Software

We’re unable to practically evaluate Global ICM’s trading platform because it remains inaccessible to users who haven’t activated their accounts via a firm representative. We have to trust what is written on the site, although believing the words of brokers is a foolish thing to do.

The trading platform comes in three variations: a web-based, a desktop trader, and a mobile app. However, the mobile application is only available for Android devices; an iOS version is yet to be developed. More concerning is the absence of the Android app from the official Google Play Store. Instead, Global ICM provides a direct .apk file download from their website. The desktop version comes as a .exe file, which we opted not to open due to potential security risks such as viruses.

Global ICM talks about its platform as the best and most renowned in the industry, boasting features like a user-friendly interface, advanced charts, and various types of market and limit orders. It’s worth noting, however, that this is a proprietary platform, which means it’s relatively unknown even to seasoned traders. Why doesn’t the broker allow testing the software on a demo account? Apparently, they do not want to spend time and resources on clients who will not bring in money.

Features Global ICM Xtrader365 StockHome
Demo Account ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With Global ICM?

We’re looking at a CFD broker here, meaning they only offer trading in contracts for difference; you won’t find spot or futures assets available. Their asset classes cover a broad range, including forex, metals, indices, stocks, commodities, and cryptocurrencies. What stands out is Global ICM’s claim of zero commissions. It raises an eyebrow, how does the broker generate revenue? It suggests the spreads on trades could be excessively high.

All Info About Accounts

Global ICM offers a tiered account system with five different plans. The entry-level “Bronze” account has a minimum deposit requirement of $250 and includes features like negative balance protection, advanced charting tools, access to an education center, and a leverage ratio of up to 1:100. The next type requires a $3,000 minimum deposit, and the only major differences are the leverage ratio of up to 1:200 and the addition of a personal manager. As you move up the tiers, the minimum deposit requirements increase substantially, and added perks from Global ICM include exclusive webinars, invitations to private events, and personalized business plans.

Global ICM - account types

The various account types at Global ICM differ minimally, mostly regarding leverage and perhaps one additional feature. The firm follows the favorite principle of fraudulent brokers: “If you want to get more services and privileges, then pay more money.” With a steep minimum deposit requirement of $250, the company doesn’t appear very customer-friendly, especially when compared to other reputable, well-known firms that offer a much more accessible entry threshold of just $10.

We were unable to find information on the size of the spreads or any contract specifications. Furthermore, the purported benefits and services are not well-explained. Questions abound: What qualifications do these so-called “experienced personal managers” have? Can they provide proof of their competence? What topics are covered in these “exclusive webinars,” and what exactly constitutes a “private event”? There are a lot of questions because Global ICM did not bother to fully disclose the information. Adding to these concerns, the broker neither offers a demo account nor accommodates Islamic accounts.

Pros
  • None.
Cons
  • High minimum deposit.
  • There is no demo and Islamic account.
  • Important parameters are hidden, for example, the size of spreads and their type.

Market Analysis and Education With Global-icm.com

Global ICM’s publicly accessible analytical services feature an exchange ticker, technical analysis, market quotes, crypto market data, and an economic calendar. Additionally, the official website offers current quotes on popular assets, basic information on different asset classes, and an FAQ section. However, curiously missing are essential tools like an order calculator and a news feed. Global ICM seems to have forgotten about the existence of such important tools. The lack of free educational courses or an academy for beginners is another significant gap in their service offerings.

Deposit, Withdrawal, and Fees

Global ICM offers multiple options for depositing and withdrawing funds, including credit/debit cards, wire bank transfers, and electronic wallets. While the company doesn’t charge a fee for deposits, it levies a hefty 5% fee on withdrawals. This fee breaks down into 4% for service charges and an additional 1% as a processing fee. It’s an unusual condition that makes trading less profitable. Traders will give 5% of their earnings to the firm. Such a practice is not commonly seen among reputable and established brokers. Notably, Global ICM doesn’t offer cryptocurrencies as a method for transfers, despite their growing popularity among traders.

Features Global ICM CIX Markets Stone Bridge Ventures
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

You can contact the managers of Global ICM by email, phone, online chat, and also submit a request for a callback through a special form. However, our attempts to verify these contact details yielded no results. Intriguingly, the brokerage lacks a social media presence, which is quite odd given that it operates in an online business where social media platforms are teeming with potential clients.

Pros
  • There is an online chat for prompt communication.
Cons
  • There is a lack of social media.

Is Global ICM Dangerous?

At the moment, Global ICM does not appear to be secure or profitable for trading. The absence of a demo account, high minimum deposit requirements, and opaque trading conditions all raise red flags. However, to get a complete understanding of the company’s credibility, one would need to look into its operational history and verify whether it holds a valid license.

How Long Does The Broker Work?

As is often the case with obscure and lesser-known brokers, Global ICM conceals its founding date. While the user dashboard suggests the company has been in operation from 2013 to 2023, implying a decade of activity, this claim seems dubious. No registration documents are made available, and the website’s domain was only registered in August 2023. Additionally, online reviews of the firm have only recently begun to surface. As such, there’s a strong indication that Global ICM likely commenced operations on August 4, 2023.

domain info

How Is Global ICM Regulated?

So, we’re dealing with a Swiss company, given that its legal address is in Switzerland. In this jurisdiction, the regulatory body is FINMA, so it would be the place to look for any licensing. A search for Global ICM turned up empty, indicating that the broker is not regulated.

FINMA check

We went a step further to check the Swiss registry of legal entities, and, as it turns out, Global ICM is not listed there either. The provided legal address is fraudulent, suggesting that the company is operating illegally.

Features Global ICM Lincoln Financial Service LTD Stone Bridge Ventures
European Zone
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With Global ICM?

First, you'll need to register an account on the official website and verify your email address. Next, you'll have to get in touch with a manager to upload the necessary verification documents. After these steps, you can deposit funds and begin trading. Notably, the platform doesn't offer a demo account; you can only trade using real money.

Is Global ICM Legit?

The address provided for the company's office is fake, there are no licenses, and the broker's duration of operation is concerning. Given these facts, it's clear that the firm is operating illegally.

How Risky Is It?

Investing with an illegal brokerage firm carries a 100% risk of losing your money. We cannot endorse Global ICM that fails to secure the proper licensing and provides false information, such as a fake address. A guaranteed loss of your deposit is guaranteed.
Kevin Berry
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Expert Opinion

Why do scammers create such obvious fake broker websites? After all, any savvy trader can easily verify a company’s registration address and check for a license. Global ICM appears to target less-informed users who are susceptible to get-rich-quick schemes and fake narratives. Clearly, more experienced clients won’t fall for such overt scams. I’d strongly advise against even considering registration with this disreputable firm. A fake address, absence of a license, and a high minimum deposit of $250 or more are all red flags indicative of a guaranteed scam.

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Global ICM rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Global ICM

JBL August 2, 2023 - 19:51
Analyzed it. Nothing good or safe was found.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Such a company, of course, cannot be called a professional. First, I did not see a sufficient number of reviews on the internet about Global ICM. Nobody knows about the broker, there are few mentions, and it is a completely unknown firm. Second, the website does not specify anything meaningful about its activities. Although, in general, any broker should first provide complete information about itself: the date of establishment, licenses, and a full package of legal documents. The broker should also indicate the business model they operate under. However, Global ICM says nothing about this. Third, the broker is not listed in the FINMA company registry. How can this be? It’s simple – a fake address.
What’s the result? In the end, we are dealing with an overt scam and fraud, nothing more. The firm was created by scammers, who are clearly not doing it for the first time. You can’t invest here, because all the money invested in the dealing desk immediately goes into the pockets of the crooks. And the crooks are anonymous; they deliberately do not disclose their names because they know very well that they are breaking the law and that imprisonment threatens them for this.
That’s all from me. Be careful. Choose only verified brokers, not garbage dumps like Global ICM.

Reply
Alex Scusini August 29, 2023 - 01:17
I can't advise
The level of trust
Quick withdrawal of funds

I fell for the persuasion and favorable terms of Global ICM. Initially, I had thought I would be partnering with an experienced broker, only to find out I couldn’t even close deals with a profit. The spreads were absurdly high, the trading platform functioned poorly, and they even provided a bonus that I didn’t ask for. When it came time to withdraw my money, nothing worked. The managers became unresponsive, and I was unable to withdraw my funds. I fell victim to what appears to be a classic case of fraud by this scambroker. As such, I can’t recommend this firm to anyone.

Reply
Jarden November 10, 2023 - 14:46
Scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Scam.

I cannot withdraw my money. I deposited 250euro with my creditcard to start with, the broker (Andrew) was very pushy that I need to deposit more. Eventually I did deposit 250 again, then he asked for more and start talking about some 100% bonus if I deposit 1000euro immediately. I did not do this, I wanted to withdraw my money. When in the procedure for the withdrawal he said I need to instal anydesk.com. This app makes him take control over your machine if you accept, which seems really sketchy to me. I declined and now I am being ignored. Luckily I did not invest much.

I recommend to stay away from global-icm.

Reply

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