Purpose: Cloud computing systems represent one of the most complex computing systems currently in existence. Current applications of Cloud involve extensive use of distributed systems with varying degree of connectivity and usage. With a recent focus on large-scale proliferation of Cloud computing, identity management in Cloud based systems is a critical issue for the sustainability of any Cloud-based service. This area has also received considerable attention from the research community as well as the IT industry. Numerous Cloud Identity Management Systems (IDMSs) have been proposed so far; however, most of those systems are neither widely accepted nor considered highly reliable due to their constraints in terms of scope, applicability and security. In order to achieve reliability and effectiveness in IDMs for Cloud, further extensive research needs to be carried out to critically examine Cloud based IDMSs and their level of security. Methods: In this work, we have holistically analyzed Cloud IDMSs to better understand the general as well as the security aspects of this domain. From the security perspective, we present a comprehensive list of attacks that occur frequently in Cloud based IDMSs. In order to alleviate those attacks, we present a well-organized taxonomy tree covering the most desired features essential for any Cloud-based IDMSs. Additionally, we have specified various mechanisms of realization (such as access control polices, encryption, self-service) against each of the features of Cloud IDMSs. We have further used the proposed taxonomy as an assessment criterion for the evaluation of Cloud based IDMSs. Results: Our in-depth analysis of various Cloud based IDMSs reveals that most of the systems do not offer support to all the essential features of Cloud IDMS and the ones that do, have their own certain weaknesses. None of the discussed techniques heuristically covers all the security features; moreover, they lack compliance to international standards which, understandably, undermines their credibility. Conclusion: Presented work will help Cloud subscribers and providers in understanding the available solutions as well as the involved risks, allowing them to make more knowledgeable decisions while selecting potential Cloud IDMSs that best suits their functional and security requirements.