FAKE ICMarkets Deposit & Withdrawal

When we set out to review the funding arrangements at FAKE ICMarkets — the trading name of IC TRADE MARKET, registered in Australia — we expected to find a clear picture of deposit and withdrawal methods, fees, and processing times. Instead, our records show that the broker's deposit and withdrawal methods are simply listed as '--', meaning no specific payment channels, minimums, or processing windows have been disclosed to us. This is not unusual for a broker with no independent review record, but it is a significant red flag for any trader considering sending money to this entity.

In FXCanary's assessment, the absence of verifiable funding information is itself a finding. A legitimate broker typically publishes its payment options, fees, and withdrawal procedures prominently. The fact that FAKE ICMarkets does not — and that its scam risk score stands at 85/100, with flags for being listed as a 'Fake Broker' in industry watchdog records and identified as a clone or impersonator firm — means that any funding decision should be approached with extreme caution. Our goal in this article is to give you a practical framework for evaluating the risks, based on what is and is not independently verifiable.

Our review found no official disclosure of deposit methods for FAKE ICMarkets. The known facts list deposit methods as '--', and we found no credible web results that clearly match this broker's official domain, ictrademarkets.com, to fill that gap. This is concerning because a broker that cannot or will not specify how clients can fund their accounts is not providing the transparency that traders need to make informed decisions.

In the absence of official information, we can only note that the broker claims to offer trading on the cTrader platform with raw spreads from 0.0 pips and leverage up to 1:500. These claims are unverified, and we have no way to confirm that any deposit method — whether bank transfer, credit card, or e-wallet — is actually available. For a cautious trader, the lack of a clear deposit path is a warning sign that the broker may not have a robust operational setup.

Withdrawal methods are equally undisclosed. Our records show '--' for withdrawal methods, and we found no reliable information from web searches that specifically addresses FAKE ICMarkets. This is particularly troubling given that the broker's risk profile includes a flag for 'Withdrawal complaints in ~100% of recent reviews' — though we must stress that these reviews are not independently verified, and we have no direct evidence of such complaints against this specific entity.

In FXCanary's view, the inability to verify withdrawal procedures is a major concern. Even if the broker is legitimate, the lack of published withdrawal information means that traders cannot know how long it will take to access their funds, what fees might apply, or what documentation is required. This uncertainty is unacceptable for a regulated broker, and it amplifies the risk of depositing funds with FAKE ICMarkets.

FAKE ICMarkets lists three licences on file: ASIC licence no 335692 (Market Making, Australia), CYSEC licence no 362/18 (Derivatives Trading License, Cyprus), and FSA licence no SD018 (Derivatives Trading License, Seychelles). We cross-checked these against the public registers as far as our records allow, and they appear in our files. However, the status of each licence is listed as '—', meaning we cannot confirm whether they are currently active, suspended, or revoked. This is a critical gap.

Having a licence number is not the same as being regulated in good standing. In our experience, clone brokers often cite real licence numbers that belong to other firms, or they use licences from jurisdictions with weak oversight. The Seychelles FSA licence, in particular, is common among offshore brokers and offers limited investor protection. Even the ASIC and CYSEC licences, if valid, do not guarantee that the entity operating ictrademarkets.com is the same as the licence holder. We urge traders to verify directly with the regulators before depositing any funds.

The broker offers four account types: cTrader Raw Spread, Islam, standard, and Raw Spread. The Raw Spread account has a minimum deposit of $200, while the others list no minimum deposit. Maximum leverage varies: 1:500 for cTrader Raw Spread, 500:1 for standard and Raw Spread, and not specified for Islam. Minimum spreads are 0.0 pips for Islam and Raw Spread, and 1.0 pip for standard, with cTrader Raw Spread not specified.

These figures are taken directly from our records, but we have not been able to verify them independently. The lack of a minimum deposit for most accounts is unusual and could be a tactic to attract small deposits, which are then at risk if the broker is fraudulent. For the Raw Spread account, the $200 minimum is relatively low, making it easy for a trader to start with a small amount — but that also means the absolute loss is limited, which is a sensible approach for testing the broker's reliability.

Given the lack of verifiable funding information and the high scam risk score, we recommend that any trader considering FAKE ICMarkets take a defensive approach. First, start with a deposit amount you can afford to lose entirely — treat it as a test, not an investment. Second, attempt a small withdrawal as soon as you have any profits or even before trading, to see if the broker processes it. A legitimate broker will allow you to withdraw your own funds without excessive delay or demands for additional documentation.

Third, keep meticulous records of all communications, deposit confirmations, and withdrawal requests. If the broker fails to honour a withdrawal, these records will be essential for any complaint to regulators or law enforcement. Fourth, consider using a payment method that offers chargeback protection, such as a credit card, rather than a wire transfer, which is harder to reverse. Finally, be wary of any request to pay 'fees' or 'taxes' before a withdrawal is released — this is a common scam tactic.

As of now, there are no independent user reviews of FAKE ICMarkets that we can verify. This is a double-edged sword: on one hand, there is no positive track record to reassure potential clients; on the other hand, there is also no direct evidence of fraud from users. However, the absence of reviews is itself a red flag for a broker that claims to have been operating since July 2021 — over three years. A legitimate broker with any client base would typically have some online footprint, even if small.

We also note that the broker is flagged in industry databases as a 'Fake Broker' and a clone/impersonator firm, and there are 4 user exposure/complaint reports on file. While we cannot verify the details of these reports, they align with our overall risk assessment. In FXCanary's opinion, the lack of independent reviews, combined with the risk flags, means that traders should treat FAKE ICMarkets as high-risk until proven otherwise.

In summary, our review of FAKE ICMarkets' funding arrangements found no disclosed deposit or withdrawal methods, no verifiable processing times, and no independent reviews to corroborate the broker's claims. The broker holds licences from ASIC, CYSEC, and FSA, but their status is unconfirmed, and the Seychelles licence offers limited protection. With a scam risk score of 85/100 and flags for being a fake broker and clone, we cannot recommend this broker for any serious trading activity.

If you still choose to proceed, do so with the smallest possible deposit, test withdrawals early, and keep thorough records. But in FXCanary's assessment, the safest course is to avoid FAKE ICMarkets altogether and seek a broker with a transparent, verifiable funding process and a clean regulatory record. Your capital is too precious to risk on an entity that cannot even tell you how to get your money out.