ICBroker Review – Operating Without a Forex License?
ICBroker Review – Operating Without a Forex License?

With a neatly designed website and seemingly lucrative trading conditions, ICBroker plans to win over traders and investors. There are several red flags about it.

First, the brokerage firm is registered offshore in a place associated with countless scammers. Secondly, the majority of the website content is dishonest, i.e. fraudulent. Bear with us as we expose this unreliable Forex trading firm and debunk all its lies.

Regulated by: Unregulated Offshore Broker
Is This Company Safe? No, the company is unlicensed
Known Websites: icbroker.io 
Have Warnings from: N/A
Registered in: SVG
Operating since: 2022-01-11
Trading Platforms: N/A
Maximum Leverage: N/A
Minimum Deposit: N/A
Deposit Bonus: N/A
Trading Assets: Forex, Indices, Commodities, Stocks, Crypto, Bonds
Free Demo Account: Unavailable
How to Withdraw from This Company? Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds.

Legal Info: Is ICBroker Regulated?

The ICBroker crypto services platform is run by an offshore company based in Saint Vincent and the Grenadines (SVG). This jurisdiction is notorious for being home to many anonymous tricksters and digital dodgers.

SVG’s favorable taxation system and lack of Forex regulations made the Caribbean state the preferred destination of thieves. Our little fraudster is no different. Therefore, you should refrain from engaging in any form of business with entities registered there.

Instead, we recommend you find a licensed firm approved by respectable financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc. Regulated brokers must adhere to stringent regulations and provide safety measures such as negative balance protection, segregation of client funds in top-tier banks, and compensation plans to mitigate potential losses.

Who Are ICBroker’s Targets?

According to godaddy.com/whois, the icbroker.io website domain was created on January 11, 2022. Since then, the cyber thieves have been targeting mainly unwary traders and investors residing in the following countries:

  • United States;
  • United Kingdom;
  • Netherlands;
  • Germany;
  • France.

All the countries on the list feature Tier 1 regulations – their markets are fortresses when it comes to security. Each of their financial watchdogs meticulously supervises participants to ensure there is no fraudulent activity The goal is to prevent unauthorized entities such as Regency Limited from scamming traders.

To stress once again, ICBroker lacks a valid Forex trading license and has absolutely no authorization to provide services in any of the listed jurisdictions. The financial compensation contracts some of these domains offer do not apply if you’ve made deals with cutthroat offshore providers.

Trader Reviews – Sharing Experiences

There are only 10 ICBroker reviews on trustpilot.com and a couple more on scamadviser.com. Aside from a few positive ones, negative feedback is prevalent on the forums, pointing to illicit activities.

Given the broker’s dubious background, it comes as no surprise. Traders complained about not being able to withdraw funds from the platform for inexplicable reasons. Hence, we urge you to read what honest users say about a certain platform before opening an account and funding it. Put the safety of your assets first.

Which Trading Platform Is Available?

The website did not disclose any relevant information about the available ICBroker trading and its specifications. We know for certain that there is no legit trading tool for download. Considering all the shady beans we’ve so far spilled, it’s likely that there is no reliable software at all.

When choosing a Forex provider, we urge you to choose a licensed operator that supports reliable third-party software such as MetaTrader 4, MetaTrader 5, or cTrader and avoid dubious sites like Idex.io that disregard important trading aspects.

MT platforms support advanced features such as automated & algorithmic trading, sophisticated charting, real-time market reports, API integration, 20+ timeframes, Expert Advisors (EAs), and instant order execution. Just make sure your provider is licensed to offer such services.

Leverage, Spreads, Commissions, Demo Account

Leverage scales up to 1:30, which is surprisingly within the legal range in force in Europe and Australia. Offshore brokers typically offer much more than that. Spreads allegedly start from zero with no commissions. Sounds too good to be true, probably because it’s just another lie.

We weren’t able to verify these conditions because there was no demo account. Risk-free trading enables beginners to practice with virtual funds instead of jumping in a stressful environment straight away. Every legitimate broker nowadays offers a demo account…

Deposit and Withdrawal Process

The website listed four payment methods that can be used to make an ICBroker deposit and withdraw generated profits:

  • Credit/debit cards (MasterCard, VISA);
  • PerfectMoney;
  • WebMoney;
  • Cryptocurrencies.

The minimum deposit is unknown. Judging by what we read on the forums, customer support goes out the window in the event of ICBroker withdrawal issues, which seem imminent on this platform. If it happens, you ought to explore potential fund recovery methods.

For funds deposited through MasterCard or VISA credit/debit cards, users have the possibility of requesting a chargeback at the issuing bank within 540 days. If successful, you’ll get your money back quickly.

Reversing cryptocurrency payments is more complex and requires the utilization of sophisticated software such as CipherTrace. Luckily for you, our team can help you out with tracking the stolen crypto.

Key Facts To Consider About ICBroker

ICBroker is an unlicensed offshore brokerage firm operating from SVG. The obscure platform has defrauded many unfortunate users, with victims mainly being American, British, Canadian, German, and French traders. 

We advise you to steer clear of this platform due to its fraudulent nature. In case you have lost money to the ICBroker scam, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

FAQ Section

What is ICBroker?

It’s an offshore Forex and CFD brokerage firm with a poor reputation and despicable intentions.

Is ICBroker Regulated?

No, the company operates out of SVG, a domain where there are no Forex regulations whatsoever.

What is CipherTrace?

CipherTrace allows users to track crypto transactions to a destination wallet in hopes of getting a refund.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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