Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo financial licence anywhere; only an SVG company registration, and Spain's CNMV has warned the firm is unauthorised.
Identity & transparency
6/10 · HighA real SVG entity and address are disclosed, but ownership is hidden, the address is a generic offshore agent, and the name mimics the regulated ICM Capital group.
Withdrawals & conduct
5/10 · ModerateAggregator reports of withheld profits and rejected payouts exist but are thin and not confirmed for this exact website.
Reputation
6/10 · HighA tier-one regulator warning plus a thin, unverifiable public footprint for a broker claiming 100,000+ clients.
Website claims
6/10 · HighPresents an SVG company registration as if it were regulation and makes unverifiable trust and fast-withdrawal claims, but forges no tier-1 licence.
Operational history
4/10 · ModerateThe operating company dates to 2022 (about four years); the domain is older but that does not extend the company's track record.
Who they are
A quick desk file on the company behind the brand.
- Brand: ICM Trader
- Legal entity: ICM Trader LLC
- Registered: Beachmont Business Centre, Suite 294, Kingstown, Saint Vincent and the Grenadines
- Website: icmtrader.com (online since 2011; the current company was registered in 2022)
- Only registration: Saint Vincent and the Grenadines LLC No. 1858 LLC 2022. This is a company registration, not a financial licence.
- Offers: forex and CFDs on MetaTrader 4, leverage up to 1:500, plus indices, commodities and crypto CFDs
- Funding: Visa, Mastercard, Skrill, Neteller, Ecommpay, bank transfer
- Not accepted: residents of Saint Vincent and the Grenadines, the USA and sanctioned regions
- Languages: English, Persian and Arabic, pointing to a focus on the Middle East and Iran
- Age claim: no specific founding year is advertised; the operating company dates to 2022
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA)
Why we reached this verdict
How the evidence adds up.
Two findings drive the rating, and both are easy to re-check.
- A regulator has warned about this exact company. On 25 March 2024 Spain's National Securities Market Commission (CNMV) added ICM TRADER LLC, website icmtrader.com, to its public list of unauthorised firms. This is a national regulator naming the same company and website we investigated.
- There is no financial licence at all. The only registration the broker shows is a Saint Vincent and the Grenadines LLC number (1858 LLC 2022). The authority there does not license or supervise forex and CFD trading, so this registration gives clients no protection. No FCA, CySEC, ASIC or comparable licence exists for this broker.
- The money has no safety net. With no regulator and no compensation scheme, there is nothing a client can fall back on if funds are withheld.
- The name leans on a regulated brand. The established ICM Capital group (icm.com) is regulated in Mauritius, Abu Dhabi, Dubai and Switzerland. Its official site does not list ICM Trader or icmtrader.com, so this is not one of that group's licensed companies despite the similar name.
- Reported conduct. Broker-review sites carry accounts of withdrawal delays, rejected payouts and at least one report of accounts closed with profits kept. We could not independently confirm these for this exact website, so we treat them as unverified signals rather than proof.
Taken together, a tier-one regulator warning and the complete absence of a licence place this in the likely scam band. We did not find a court ruling or an enforcement case, so we stop short of calling it a confirmed scam.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Spain's CNMV lists ICM TRADER LLC on its official register of warned, unauthorised companies, dated 25 March 2024, with two warning documents. The entity name matches the broker exactly and the warning names the website icmtrader.com.
E2The broker's own footer states that ICM Trader LLC is only incorporated and registered in Saint Vincent and the Grenadines under No. 1858 LLC 2022. There is no forex or CFD licence from any financial regulator, and SVG does not supervise forex trading.
E3The site presents a company registration as financial oversight by stating it is 'registered by the Financial Services Authority of Saint Vincent and the Grenadines', which can lead a reader to believe the broker is financially regulated when it is not.
ModerateICM Trader website (imprint)E4The regulated ICM Capital group (icm.com), licensed by FSC Mauritius (C118023357), ADGM FSRA (210045), the Dubai regulator and Swiss ARIF, does not list ICM Trader, ICM Trader LLC or icmtrader.com among its companies. The unregulated SVG broker reuses the recognisable 'ICM' name but is not part of that group.
ModerateICM Capital official siteE5Broker-review aggregators report withdrawal difficulties, rejected payouts and an account-closure complaint in which profits were allegedly kept. The reports are thin and not independently verifiable for this exact website, and ICM-branded entities are easily confused, so this is treated as an unconfirmed signal.
ModerateBroker-review aggregatorE6The broker advertises 100,000+ global clients, segregated accounts and 24-hour fast withdrawals, but these claims are unverifiable and are not corroborated by any independent review footprint for the domain icmtrader.com.
E7Domain registration records show icmtrader.com was created on 5 December 2011 and has had continuous archived content since 2011, so it is not a freshly registered scam domain. The broker also discloses a real legal entity, registration number and address, and uses mainstream card and e-wallet processors rather than crypto-only deposits.
ModerateVerisign RDAP registry recordE8The broker does not fabricate a tier-1 licence or a false founding year. It openly states it is a Saint Vincent registered company and makes no claim of FCA, CySEC or ASIC authorisation.
The other side
The strongest case in this broker’s favour.
In fairness, several points cut the other way, and we weighed them.
- The website has existed since 2011 and the current company was registered in 2022, so this is not a domain thrown up overnight.
- The broker is open about being a Saint Vincent company. It does not forge an FCA or CySEC licence number, and it does not claim to be regulated by a top-tier authority.
- Deposits run through mainstream processors (Visa, Mastercard, Skrill, Neteller), not the crypto-only wallets typical of pure boiler rooms.
- The CNMV notice is the standard warning that many offshore brokers receive simply for taking EU clients without EU authorisation. On its own it proves a lack of authorisation in Spain, not that money has been stolen.
- We checked whether ICM Trader is a regional arm of the regulated ICM Capital group. That group's own site does not list it, so we could not support that explanation.
These keep the rating at the lower end of the likely scam band rather than a confirmed scam, but they do not offset having no licence and a regulator warning.
What would change this
What we would need to see to revise the verdict.
We would move the rating if the facts change.
- Lower risk: ICM Trader obtaining and verifying a genuine tier-1 or tier-2 licence (for example FCA, CySEC or ASIC) that actually covers the company holding client funds.
- Lower risk: the CNMV removing ICM TRADER LLC from its warning list, or the regulated ICM Capital group formally confirming icmtrader.com as one of its licensed entities.
- Lower risk: a consistent, independently verified record of clients withdrawing funds without obstruction.
- Higher risk: a second regulator warning naming icmtrader.com, an enforcement or court action, or a confirmed pattern of deposits taken and withdrawals refused. Any of these would move this toward a confirmed scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CNMV warning (Spain) against ICM TRADER LLC
Spain's regulator lists this company as an unauthorised firm; search result for ICM TRADER.
ICM Trader official website
The broker's own site and its Saint Vincent registration notice.
CNMV warnings search
Check any firm yourself against Spain's list of unauthorised entities.
Frequently asked questions
Quick answers about this broker’s safety.
Is ICM Trader a scam?
We rate ICM Trader as a high-risk, likely scam. It has no financial licence from any regulator, and Spain's CNMV has publicly warned that ICM Trader LLC operates without authorisation. With no oversight, depositing money here carries a high risk of loss.
Is ICM Trader a fraud?
No court or financial regulator has ruled that ICM Trader has committed fraud, so we do not state that as a fact. What is on record is that Spain's CNMV lists ICM TRADER LLC as an unauthorised firm, and the broker holds no licence. On that basis we assess the risk of fraud as high.
Is ICM Trader regulated?
No. Its only registration is a Saint Vincent and the Grenadines company number (1858 LLC 2022), which is a business registration, not a trading licence. The SVG authority does not license or supervise forex and CFD brokers, and no FCA, CySEC or ASIC licence exists for ICM Trader.
Can I withdraw my money from ICM Trader?
Some reviews report delays and rejected withdrawals, though we could not confirm these for this exact website. Because there is no regulator to appeal to, a refused withdrawal would be very hard to resolve. If you have funds there, request them now and keep records.
Is my money safe with ICM Trader?
There is no regulator, no client-fund segregation you can verify, and no compensation scheme. If the company fails or withholds funds, there is no official body standing behind your money.
What is ICM Trader's Saint Vincent registration worth?
Very little for your protection. A '1858 LLC 2022' number means the company is registered in SVG, nothing more. SVG has publicly stated it does not regulate forex trading, so this registration does not make the broker supervised or your deposits protected.
Did a regulator warn about ICM Trader?
Yes. On 25 March 2024 Spain's National Securities Market Commission (CNMV) added ICM TRADER LLC, website icmtrader.com, to its public list of unauthorised firms. You can confirm this on the CNMV warnings search.
Is ICM Trader the same company as ICM Capital or ICM.com?
No. ICM Capital (icm.com) is a separate, long-established group regulated in Mauritius, Abu Dhabi, Dubai and Switzerland. Its official site does not list ICM Trader or icmtrader.com. The similar name can cause confusion, but they are not the same company.
Who owns ICM Trader and where is it based?
The contracting company is ICM Trader LLC, registered in Saint Vincent and the Grenadines at Beachmont Business Centre, Kingstown. The beneficial owners are not disclosed. Its Persian and Arabic site suggests it mainly targets clients in the Middle East and Iran.
How old is ICM Trader?
The operating company was registered in 2022, so it is around four years old. The website domain is older (2011), but an older domain does not extend how long the current company has traded.
Is ICM Trader a clone?
We did not find it copying another firm's licence number or identity, so we do not label it a clone. It does, however, use the 'ICM' name associated with the regulated ICM Capital group, which could mislead people into thinking the two are connected.
What should I do if I cannot withdraw from ICM Trader?
Stop depositing, especially if you are asked to pay a fee or tax to release funds. Save all records, ask your bank or card provider about a chargeback, and report the firm to Spain's CNMV and your own national regulator. Be wary of 'recovery' services that ask for an upfront fee, as these often target victims a second time.
What we recommend
The practical takeaway from everything above.
Our guidance for anyone considering or already using ICM Trader:
- Do not deposit new money. There is no regulator and no compensation scheme standing behind this broker.
- If you already have funds there, request a full withdrawal now and keep written records of every request and reply.
- If a withdrawal is refused or you are asked to pay a fee, tax or deposit to release your money, stop paying and treat it as a serious warning sign.
- If you used a card or e-wallet, ask your bank or provider about a chargeback, and keep all transaction records.
- Report problems to Spain's CNMV and to your own national financial regulator, and prefer a broker licensed by a tier-1 authority.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 8, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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