We’re reviewing IC Markets — a broker who has been around for a long time in the market but successfully concealing their negative footprints on the internet through an aggressive and consistent marketing campaign. The broker runs icmarkets.com, ICMarkets.com.au and also ICMarkets.eu domains.

IC Markets website is quite attractive (we must confess), convincing and promising. As soon as you open their website, you will find a broker that promises 0.0 spreads, ultra-fast execution, modern trading platform, multiple deposit and withdrawal methods among other benefits. Not only does ICMarkets offer MetaQuotes software (which is a favorite among many traders), but they also offer the highly sought-after cTrader software. These features attract traders across the globe including the most experienced retail traders.

But as soon as you begin to use IC Markets, you will see that the broker is not devoid of serious problems that cost traders money…. in fact a lot of money!

So if you have been scammed by this broker, it’s time to pursue your funds. We have a way of doing it until you can successfully get back your funds.

That said, here are reasons why we consider IC Markets broker a long-time scam

IC Markets withdrawal problems

Just like any other CFDs trading platform, ICmarkets.com does not accommodate experienced traders who are able to make consistent profits from trading. As we conducted our background checks on the company, we spoke to a number of traders who stated that they were unable to withdraw their big profits. Take note that the broker has no problem with traders who win small profits here and there. Gamblers don’t make an impact on the broker’s paycheck because these traders constitute over 90% of retail traders who lose money. This is why their main problem is solely on traders who make a lot of money from the platform and want to withdraw those funds. The broker does not want to pay out. According to the victims’ reports, IC Markets takes away the profit and sends an email to the victims stating that there was a ‘technical error’.

Is IC markets regulated? No they are not

The broker gives us many stories with regards to their regulatory status. They claim that they’re regulated by the Seychelles Financial Services Authority (FSA). We’re unable to confirm whether their license number is legitimate and secondly, this is a toothless financial regulator. If you search Google for their regulatory enforcement incidents, you will find none. A serious financial regulator has the mechanism and framework to enforce their rules on brokers who don’t comply. The FSA is weak as they can’t fine errant brokers. They have no capacity to arrest and punish perpetrators of scams. This kind of ‘financial regulator’ is the entity that ‘regulates’ IC Markets. Do you think your money is safe?

ICMarkets and RAW TRADING LTD

Raw Trading Ltd owns ICMarkets but Raw Trading Ltd actually has problems with the financial regulator in Italy. You can check the regulator’s website to see that there is a warning regarding this company. If using windows PC, just click Ctrl+F and search IC markets. This is because there is a lot of text on that webpage and locating IC markets may be difficult.

You will lose money with ICMarkets CFDs trading

IC markets provides leverage up to 1:1000. This is considered excess leverage and some countries have proceeded to ban this kind of leverage. It is careless and irresponsible for a broker to entice people to use this kind of leverage. The reason ICmarkets is offering you this leverage is because they want you to quickly lose your deposit. A Contract for Difference aka CFDs broker is not doing the business to profit you. They are in this business to profit themselves. Furthermore, CFDs orders are not executed in the licensed financial exchanges, plus lack of transparency in their execution has always been a big problem. This is why countries like United States have banned them altogether. The broker knows that he is going to manipulate the trades (by trading against you) plus he is going to entice you with big leverage so that you can lose your money quickly.

Conclusion of ICMarkets broker review

These are just some of the reasons we hate this broker and are unable to recommend them. We forgot to add that this broker has also invested heavily in marketing and PR. This is why the first 10 results on Google search are all positive about the broker. The broker is willing to spend the top dollar on advertising to get clients. When a broker has deep pockets, it does not matter how many people complain. Those complaints are burried deep down google search results and nobody will be able to see them ever.

Spread this review widely and participate in the comment section so that we can ashame this broker.