FAKE ICMarkets

IC TRADE MARKET, trading under the name FAKE ICMarkets, is a forex and CFD broker registered in Australia, with its official website at ictrademarkets.com. The company was founded on 5 July 2021 and lists its registered address as International Capital Markets Pty Ltd, Level 4, 50 Carrington Street, Sydney, NSW 2000, Australia.

According to our records, the broker claims to offer trading services with leverage up to 500:1 and raw spreads from 0.0 pips, primarily on the cTrader platform. It also presents four different account types, including a Raw Spread account, an Islamic account, and a standard account. However, independent public information about this broker is limited, and the web search results we reviewed did not clearly correspond to this specific entity, which is a cautionary sign for traders.

Our records indicate that IC TRADE MARKET holds three licences, though the status of each is not specified. The first is an Australian Securities and Investments Commission (ASIC) Market Making (MM) licence, number 335692. The second is a Cyprus Securities and Exchange Commission (CySEC) Derivatives Trading License (MM), number 362/18. The third is a Seychelles Financial Services Authority (FSA) Derivatives Trading License (EP), number SD018.

It is important to note that while these licences are on file, their validity and the broker's compliance with each regulator are not confirmed in our records. Traders should independently verify the status of these licences with the respective regulatory bodies before engaging with the broker.

IC TRADE MARKET offers four account types, as detailed in our records. The cTrader Raw Spread account is designed for traders using the cTrader platform, with a maximum leverage of 1:500 and a minimum spread of 0.0 pips, though the minimum deposit and commission are not disclosed. The Islamic account, which is swap-free, also offers a minimum spread of 0.0 pips, but other details such as leverage and minimum deposit are not specified.

The standard account provides a maximum leverage of 500:1 and a minimum spread of 1.0 pips, with no minimum deposit or commission details available. The Raw Spread account, which appears to be a separate offering, has a minimum deposit of $200, a maximum leverage of 500:1, and a minimum spread of 0.0 pips, with commission not disclosed. These account types cater to different trading preferences, but the lack of full specifications makes it difficult to compare them thoroughly.

The broker prominently mentions the cTrader trading platform as its primary offering, which is a popular choice among forex traders for its advanced charting and execution capabilities. However, our records do not specify the full range of trading instruments available, such as forex pairs, commodities, indices, or cryptocurrencies. The absence of this information in our records is a limitation for traders seeking to assess the broker's product diversity.

Given the limited public information, we cannot confirm the breadth of instruments or the quality of the trading experience. Traders should approach with caution and seek further details directly from the broker or through independent reviews, if available.

Our records do not list any specific deposit or withdrawal methods for IC TRADE MARKET. This lack of transparency is a significant concern, as reliable funding and withdrawal processes are critical for any trading operation. Without clear information on how traders can deposit funds or withdraw profits, it is difficult to assess the broker's operational reliability.

We advise traders to exercise caution when considering this broker, as the absence of disclosed payment methods may indicate operational shortcomings or potential difficulties in accessing funds. It is essential to verify these details directly with the broker before committing any capital.

In FXCanary's assessment, IC TRADE MARKET carries a high scam risk score of 85 out of 100, which is classified as 'Severe'. This score is based on several risk flags, including being listed as a 'Fake Broker' in industry watchdog records, identified as a clone or impersonator firm, and having four user exposure or complaint reports filed. Additionally, withdrawal complaints appear in approximately 100% of recent reviews.

These risk indicators are serious and suggest that traders should avoid this broker or exercise extreme caution. The combination of a suspected fake status, clone identification, and widespread withdrawal complaints paints a concerning picture. We strongly recommend that traders conduct thorough due diligence and consider alternative, well-regulated brokers.