Fake IC Markets Deposit & Withdrawal

When we sat down to review Fake IC Markets' deposit and withdrawal arrangements, we expected to find a standard set of payment pages, some fine print on fees, and a few processing-time promises. Instead, our records show almost nothing concrete: the deposit methods, withdrawal methods, and even the trading instruments are listed as undisclosed. That absence is not a neutral detail — for a broker flagged as a fake or clone, it is the first red flag.

We cross-checked the official domain, icemarketss.com, against the Seychelles registration and the three licences on file. The licences themselves are a puzzle: ASIC, CySEC and FSA are listed, but the status fields are blank, and the company is registered in Seychelles with zero employees on record. A broker that cannot or will not publish its own payment terms is asking you to hand over money on faith. In FXCanary's assessment, that is not a reasonable ask.

Our records list three regulators for Fake IC Markets: ASIC in Australia, CySEC in Cyprus, and the FSA in Seychelles. The licence numbers are on file — ASIC 335692, CySEC 362/18, and FSA SD018 — but the status of each is blank. We cannot confirm that any of these licences are currently active, and we cannot confirm that they apply to the entity operating icemarketss.com.

This matters for funding because a regulated broker is usually required to segregate client funds and to offer some form of investor protection. ASIC and CySEC both have strong client-money rules, but those rules only apply if the licence is genuine and attached to the entity you are dealing with. Given that Fake IC Markets is registered in Seychelles — a jurisdiction with light oversight — we would treat any claim of ASIC or CySEC protection with deep scepticism until independently verified.

A legitimate broker, even a small one, will typically publish its deposit and withdrawal methods, minimum amounts, and processing times. Fake IC Markets lists none of these. The account types — Standard, Raw Spread and cTrader — all show a $200 minimum deposit and 500:1 maximum leverage, but the spread and commission columns are blank. We do not know what you will pay to trade, and we do not know how you would get your money back.

In our experience, brokers that hide their payment terms are often hiding something else. It could be that the payment methods change frequently, that withdrawals are delayed, or that the broker is simply a shell designed to collect deposits. Without independent user reviews — and there are none for this broker — we cannot say which is true. But the absence of information is itself information: proceed as if the funding process is untested and unverified.

The only concrete funding figure we have is the $200 minimum deposit across all three account types. That is a modest amount by industry standards — many brokers ask for $100 or less — but it is not trivial. For a broker with no track record, $200 is enough to feel like a real commitment but not enough to trigger the caution that a $5,000 minimum might.

We would advise anyone considering this broker to treat that $200 as the absolute maximum you are willing to risk on a first test. Do not deposit more than you can afford to lose, and do not assume that a small minimum deposit implies a low-risk environment. In fact, for a flagged broker, a low minimum can be a way to attract many small deposits that are never returned.

Fake IC Markets offers up to 500:1 leverage on all account types. That is an extremely high ratio — far above what most regulated brokers in Europe or Australia would offer to retail clients. High leverage does not directly affect how you deposit or withdraw, but it dramatically increases the risk that your account balance will be wiped out by a small adverse price move.

If you do fund an account, remember that leverage amplifies both gains and losses. A 500:1 ratio means a 0.2% move against you can wipe out your entire margin. In the context of a broker with no independent reviews, that is a dangerous combination: you are taking on maximum market risk with a counterparty you cannot verify. We would strongly advise against using high leverage with any unverified broker.

Our records contain no information on deposit or withdrawal fees, and no processing times. We do not know if withdrawals are instant, same-day, or take weeks. We do not know if there are hidden charges for bank transfers, credit cards, or e-wallets. We do not know if the broker imposes a minimum withdrawal amount or a fee for inactivity.

We also found no independent user reviews, no complaint history, and no evidence of how this broker handles withdrawal requests. That is not proof that Fake IC Markets is fraudulent — but it is proof that there is no track record to rely on. In the absence of verifiable information, the only responsible advice is to assume the worst and test with the smallest possible amount.

If you are determined to test this broker despite the warnings, we recommend a strict protocol. First, deposit only the $200 minimum — never more. Second, use a payment method that offers some form of buyer protection, such as a credit card, rather than a wire transfer or cryptocurrency, which are typically irreversible. Third, keep a record of every transaction, including screenshots of the deposit confirmation and any email correspondence.

Fourth, and most importantly, test a withdrawal as soon as you have any profit — or even before you start trading. A broker that refuses or delays a small withdrawal is a broker you should abandon immediately. Do not be tempted to deposit more to 'unlock' a withdrawal; that is a classic scam pattern. Finally, set a hard limit on how much you are willing to lose, and stick to it.

In FXCanary's assessment, Fake IC Markets is a high-risk broker with a severe scam-risk score of 85/100. The lack of published funding details, the offshore registration, and the blank licence statuses all point to a broker that is not ready for prime time. The absence of independent reviews means there is no one to warn you if withdrawals start to fail.

We cannot recommend depositing any money with this broker. If you choose to proceed, do so with the mindset of a controlled experiment: a small deposit, a quick withdrawal test, and a strict exit plan. Remember that the burden of proof is on the broker to show it is trustworthy — and so far, Fake IC Markets has shown nothing.