Identity Management systems cannot be centralized anymore. Nowadays, users have multiple accounts, profiles and personal data distributed throughout the web and hosted by different providers. However, the online world is currently divided into identity silos forcing users to deal with repetitive authentication and registration processes and hindering a faster development of large scale e-business. Federation has been proposed as a technology to bridge different trust domains, allowing user identity information to be shared in order to improve usability. But further research is required to shift from the current static model, where manual bilateral agreements must be pre-configured to enable cooperation between unknown parties, to a more dynamic one, where trust relationships are established on demand in a fully automated fashion. This paper presents IdMRep, the first completely decentralized reputation-based mechanism which makes dynamic federation a reality. Initial experiments demonstrate its accuracy as well as an assumable overhead in scenarios with and without malicious nodes.