Global ICM Review: A Professional Broker or SCAM?

Global ICM - logo
Rating:
1

Global ICM claims to be a professional broker. We are ready to challenge this assertion because, in fact, we see signs of a professional scam in it. Read our review to determine for yourself who is right in this standoff.

Global ICM General Information

Website https://global-icm.com/
Phone Number +41215303121
Email support@global-icm.com
Address Rue de Lyon 77, 1203 Genève, Switzerland
License
Minimum Deposit $250
Assets CFDs
Leverage Up to 1:500
Trading Platform WebTrader

Registration and Client Portal Review

Global ICM provides a website that, at first glance, seems quite ordinary and unremarkable. The homepage greets visitors with a standard set of features: descriptions of various account types, extensive self-promotion, and a noticeable absence of comprehensive legal information.

To be frank, this website doesn’t stand out as unique or memorable. It leaves the impression of being a template-based design, lacking the creative and engaging elements that might make it more appealing to potential users.

One other point to note is that the website is available only in English, which could limit its accessibility to a broader audience who prefer or require content in other languages. This, of course, may impact the overall user experience.

Global ICM - website

Registration on the Global ICM website is relatively straightforward. You’ll need to complete a form with your personal details and contact information. If you have one, you can use a promo code during the process. What’s interesting is that at this stage, you aren’t prompted to create a password. It raises the question of how you’ll access your personal account in the future. Will the broker send it to you? This approach seems rather questionable and raises concerns about the security and user-friendliness of the platform.

Registration

The Client Portal on the Global ICM platform doesn’t offer much to traders. In fact, traders are required to undergo full verification before they can access anything. Until that’s completed, they’re greeted with a black screen displaying an error and a limited set of features. The available functions in the personal cabinet are quite standard, and users can perform actions like funding their accounts, viewing their transaction history, and contacting support.

Global ICM - Client Portal

Global ICM Trading Conditions

As we mentioned earlier, Global ICM claims to be a professional broker. We’re here to determine the truth behind these assertions.

Account Types Review

Global ICM offers a range of account types, starting with the Bronze account and progressing to Silver, Gold, Platinum, and VIP accounts. The minimum deposit required to start trading is $250. As the account level increases, so does the available leverage. Unfortunately, specific information about spreads and commissions is conspicuously absent from their provided details.

Global ICM appears to put significant emphasis on the descriptions of additional services. They promise more services as your account level rises, with premium account holders being offered access to premium webinars, private events, and even some form of a one-year business plan.

However, when we scrutinize these offerings, it’s hard to find anything truly exceptional or worth justifying a substantial deposit of $100,000. The absence of specific information on spreads and commissions, coupled with the promotional nature of these services.

Trading Platform

Global ICM provides multiple trading options, including a desktop application, a web terminal, and a mobile app. However, it’s important to note that these options come with several caveats that raise doubts about their reliability.

Firstly, to access the web version, you must complete the full verification process. That means you won’t be able to explore the web terminal until after your personal information is submitted and verified.

Secondly, the downloadable application and desktop version can only be obtained from the official website. The absence of these options in app stores suggests they might not be licensed or officially recognized. As a result, there is uncertainty about the safety of these software options and whether they may pose any potential harm to your computer.

Global ICM — Deposit and Withdrawal of Funds

In the footer of Global ICM’s website, prominently displayed are logos of major credit and debit cards, including well-known names such as Visa and MasterCard. Within the “Deposit” section, Global ICM claims you can conveniently fund your trading account using a variety of methods, encompassing bank transfers and even alternative third-party systems. However, it’s important to note that this method may involve coordination with the Global ICM support team.

Regarding withdrawals, the broker assures that it will promptly process withdrawal requests, typically within one business day. The actual time it takes for the funds to appear in your trading account varies depending on the specific payment system you’ve chosen.

Verification

Naturally, Global ICM necessitates a verification process. Otherwise, you’ll find yourself severely limited in what you can do on their platform. Let’s delve into the specifics of the procedure.

  1. Initially, you’ll need to provide essential personal data, including your full name, date of birth, and contact information.
  2. To verify your identity, you must submit a clear copy of your government-issued ID, such as a passport or driver’s license. This step ensures that you are who you claim to be.
  3. Additionally, you’ll need to provide a recent utility bill or bank statement with your name and address.
  4. For added security, Global ICM may request proof of your payment method, such as a scan of your credit card. This helps ensure the funds you deposit come from a legitimate source.

Upon successful completion of these steps, you should gain full access to your account’s features.

Additional Options

We’ve highlighted some additional features in the previous sections. To be honest, these offerings don’t seem particularly appealing to us. It’s quite challenging to make sense of these so-called fantastic webinars and private events. Details like who the speakers are and basic information about the company’s leadership remain elusive, as the entire Global ICM team chooses to remain in the shadows.

Furthermore, apart from traditional trading, the broker presents opportunities for extra earnings through its affiliate program. You have the potential to earn up to $1,000 for each referral you introduce to the platform.

Is Global ICM a Scam?

Now, let’s delve into the most critical aspect of any broker’s profile, which is the jurisdiction of its operation. Let’s find out what Global ICM has to offer its clients in this regard.

Global ICM claims to work under the jurisdiction of the European Economic Area. Nevertheless, it’s crucial to emphasize that no respected European financial authority permits retail clients to have access to the kind of substantial leverage Global ICM is promoting. Furthermore, the company supplies a Swiss office address. Verifying the existence of any entity within Switzerland is relatively simple through the Swiss FINMA register or the general register of legal entities in the country. Unfortunately, Global ICM doesn’t appear in either of these registers. This raises red flags, indicating that the broker is operating in violation of legal norms and is not officially registered.

Legal data check

Global-icm.com Domain Info

Our doubts about Global ICM being a potential fraudulent operation were further substantiated when we investigated the duration of its operation. The official website’s domain was only registered with the company as recently as July 2023. This prompts significant skepticism regarding its claim of being a professional broker because, with such a limited operational history, it’s challenging to establish a credible reputation or track record in the financial industry.

Contacts Review

The broker has indeed provided comprehensive contact information, including a phone number, email, and even an address. However, as we have previously uncovered, there is no actual company registered under the name Global ICM at that address. This raises further concerns about the legitimacy of this broker’s claims and operations.

More Details

The most crucial aspect we wanted to draw your attention to regarding this broker is the positive reviews you may come across about them. Take a close look at these reviews. Do they provide any specific information? Do they mention the company’s jurisdiction of registration or license numbers? The answer is no, and once again, no. These praises are nothing but empty words, part of the advertising Global ICM invests in for its promotion. Therefore, we strongly recommend conducting your own independent investigation before considering any involvement with the broker.

Pros and Cons

  • Range of account types.
  • Lack of regulation.
  • Anonymity.
  • High leverage.
  • Lack of specific information.
  • Dubious platform.

 

2.8 TOTAL SCORE

Global ICM Summary

Global ICM - favi

Global ICM portrays itself as a professional broker, but our thorough investigation reveals a very different story. This broker is, in our opinion, nothing more than a typical scam operation. It lacks the necessary licenses and official registration, which should be a significant red flag for any potential trader.


Website information content 3
Client Portal 3
Trading conditions 3
Trading platform 3
Deposit and withdrawal 4
Verification 4
Extra options 3
Licenses and guarantees 1
Work duration 1
Feedback 3

Frequently Asked Questions (FAQ)

What Does Global ICM Offer?

Global ICM offers trading services through various account types, including Bronze, Silver, Gold, Platinum, and VIP. These accounts provide access to trading on their platform.

How Much Money Should I Invest With Global ICM?

The minimum deposit required to start trading with Global ICM is $250, as per their trading conditions.

Is Global ICM Safe?

No, Global ICM does not appear to be a safe option for trading. Despite its efforts to present itself as a registered and legitimate entity, our investigation raises serious doubts about its credibility. We have not found any evidence of proper registration or licensing, which is a critical concern for any broker.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Rob

    Lack of clarity

    When asked by an acquaintance if I knew anything about a broker called Global ICM and whether it’s safe to open an account and start trading there, I was somewhat disconcerted. There is virtually no information available about this website. There is no company history, and normal brokers receive thousands of website visits, but this one only has around 150 daily visits. Consequently, it seems that this firm lacks popularity and likely has very few clients, if any at all. Their website appears to be entirely new; perhaps they had a different one before, but that doesn’t change the situation. Reviews mention that the company frequently suspends accounts, often without clear reasons. Frankly, I would be cautious of such a company; it likely falls within the 90-95% range of fraudulent entities.

    Reply
  2. Dustin Elliott

    Broker operates illegally

    How can one trust their money, even a small sum like $250, to a broker without a license? Moreover, the broker’s behavior in this situation is rather bizarre. Typically, brokers choose one of three strategies regarding licensing documents: 1. They acquire a cheap license from an offshore registrar for about $100 and prominently display it on their website. They don’t care that this license has little or no value. 2. They steal a license number from another company, trying to mimic a real one by using a similar name and website. They also prominently display the license on their site to give the impression of regulatory compliance. 3. They provide vague explanations to blur the issue of licensing, stating that they’ve submitted the necessary documents or are waiting for a response, or they may need an additional document. But Global ICM simply forgets to include this vital information. The section where license information typically resides is empty, as if they believe their activities require no regulation. In my opinion, all unlicensed broker websites should be blocked and added to a blacklist.

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