IC Markets

IC Markets, operating under the domain icmarketsfxex.com, is a forex and CFD broker registered in Cyprus. According to our records, the company was founded on April 10, 2023, and lists its registered address at 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus. The broker claims regulation by the Cyprus Securities and Exchange Commission (CYSEC) under a Derivatives Trading License (MM), but the status of this license is not confirmed in our public register checks.

This is a relatively new entity with a very short track record. The combination of a recent founding date and an unconfirmed regulatory status raises caution for potential traders. FXCanary has assigned a Scam Risk Score of 85 out of 100, indicating a severe risk level. This score reflects the lack of verifiable operational history and regulatory clarity.

The broker's regulatory filing with CYSEC is listed as a Derivatives Trading License for Market Making (MM), but the status field is blank in our records. This absence of a confirmed status means that we cannot independently verify that IC Markets is currently authorized to provide investment services in Cyprus or the European Union.

Traders should be aware that dealing with an unverified or unregulated broker carries significant risks, including lack of investor protection, no recourse to compensation schemes, and potential for unfair practices. Without clear regulatory oversight, client funds may not be segregated as required by law.

Based on the typical profile of forex and CFD brokers, IC Markets likely offers trading in currency pairs, indices, commodities, and cryptocurrencies via leveraged derivatives. However, we have no official information from the broker's website to confirm the specific instruments, platforms, or account types available.

Given the lack of publicly accessible details, we cannot provide a definitive list of offerings. Traders considering this broker should exercise extreme caution and seek full disclosure of terms before committing any funds.

IC Markets appears to target retail traders looking for access to global financial markets through leveraged products. The Cyprus registration suggests it may aim at clients within the European Economic Area, but the unconfirmed regulatory status makes this uncertain.

Without verified regulatory authorization, it is unclear whether the broker is legally allowed to solicit clients from specific jurisdictions. Potential users should verify their own country's regulations regarding foreign brokers.

The high Scam Risk Score assigned by FXCanary is a significant warning indicator. Factors contributing to this score include the recent incorporation, unconfirmed license status, and limited transparency. Traders should be aware that leveraged trading carries substantial financial risk and can result in losses exceeding initial deposits.

Combined with the regulatory uncertainty, using this broker could expose clients to additional dangers such as withdrawal difficulties, manipulation of trading conditions, or outright fraud. We strongly recommend avoiding any broker that cannot clearly demonstrate valid regulation and a credible track record.