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ICA Trading Review: Scam Investment Advisors

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ICA Trading Review: Scam Investment Advisors

A platform requesting a $100,000 initial deposit from traders, ICA Trading (Icatrading.com) review is complete. Even for those with the capabilities to invest in such an amount, it is still high. And this opens up a lot of questions regarding the capabilities of such a platform. Before signing up with the trading platform, one has to understand their methodology. The platform has to prove that their concept works, especially their trading strategies. And this is the reason behind this ICATrading review.

ICA Trading Review

About ICA Trading

The platform goes by the full name Investment Capital Advisors. There is not a lot to go on in regards to their background and history. A closer look at the website reveals that this is more of a blog. The idea of such a site is to attract considerable corporations to sign up with them. Although the platform appears legit and in tiptop condition, there are some questions to answer. The platform is not ideal for newbie traders who want to start trading. It is more of a corporate targeted platform.

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ICA Trading is beyond most traders means thanks to the high depository amount. The other problem with the platform is that it ideally targets corporates. There are a few exciting facts worth mentioning in this detailed review. Most of our readers want to know whether the platform is legit or not. There is no concrete evidence to show that this platform is a scam. The truth is that investors always face the risk of losing part of their investments. And this is a risk that traders must take with each trading session.

Assets traded by the platform

ICA Trading Results

The platform is unclear on which assets they cover on their homepage. They should be more transparent with the assets found on the platform. Investors would want to know more about the assets before committing to a platform. These are the drawbacks of having a blog-related website for trading. Information is minimal in regards to the types of assets. We also don’t know whether the platform uses AI technology or offers crypto assets. These are the few drawbacks we noticed with the platform.

Average returns

On their homepage, the platform claims to have two sets of average returns. Alpha returns have 6.16 percent yearly returns and 0.31 percent for Beta account holders. The monthly expected return is set at 6.02 percent, with a monthly VaR set at 95 percent. They have set the leverage to be 1:10 and also quoted some of their prime brokers. The brokers mentioned include ATC Brokers, AURA FX, CFH, and Swiss Quote Bank. All brokers indicated offer monthly liquidity as part of the agreement.

Business owner

ICA Trading Team

To find out their management team, we had to click on the due diligence PDF page. And this shows Mohamad Gharib as the CTO of the firm. Sebastian Seiler is the managing director, as well as Naoya Kubota. The only female in the group chain of command is Mona Omeiry, who is the Chief Compliance Officer. We could not confirm whether these are actual members or fictional characters. The platform is based in Lebanon and seems to have offices in Switzerland.

Comments from users

Investment Capital Advisors is one of those platforms with no ratings or reviews from consumers. And this points to a platform without an actual fan base. The problem with this platform is that they fail to engage with traders. Most trading forums in Lebanon and the Middle East have not mentioned this platform. The trading forums in Europe scarcely mention this platform. What has been said on these platforms is the brokers listed above, which seem to be positive.

Compliance, license, and regulation of ICA Trading

ICA Trading Trading Performance

ICA Trading is not licensed to offer any trading products or services to the public. Their due diligence page paints a different picture regarding their compliance. The platform has two addresses, Lebanon and Switzerland. None of the officials in these states have ever licensed or heard of this platform. Their dual compliance page shows that Poly Reg regulates the platform. For those that don’t know, this is a self-regulatory organization with no backing from authorities.

What this points us to is a platform that is incapable of offering the security of funds. Investors or organizations that deposit funds with this platform are in for a rude surprise. The platform is not capable of providing insurance cover to funds deposited. And this deals a massive blow to any reliability the platform provides. Without any insurance cover, there is no way to protect investments. And this is one of the biggest obstacles online trading platforms face. Lack of compliance makes us hesitant to recommend the use of such platforms.

Domain background

And here’s where things start to get interesting with the platform. The domain information points out a different picture in regards to the platform’s online presence. According to domain checker tools, the website went live on 3rd August 2009. And this means that the platform has over eleven years in the industry. Things turn for the worse as it is revealed that the website has made 12 IP changes over the past 13 years. It means that the ownership of the platform has changed. The real website was created in 2007.

Features of ICA Trading

The platform claims that the minimum investment is $100,000, with a 25 percent monthly performance fee. Even the charges are high, considering that the platform is not compliant. Those who are thinking of depositing with the platform should think twice. They also claim that their system can control loss scaling out and margin control. Other notable features worth mentioning are having a Fibonacci calculator and a referral program. These are some of the main features seen on the homepage. They also claim to target 50 to 400 pips on four hours and daily charts

Fees and Pricing

ICA Trading is furnishing traders with a required deposit of $100,000. Corporates should take in mind that authorities do not license this platform. The 25 percent monthly fees and 0.33 monthly management fee is too much. What if the platform is unable to meet its promise of making a 6.06 expected ROI? Does this mean that users will have to incur the hefty 25 percent monthly fee? Without credible performance and results, the platform remains to be a considerable risk.

Performance and results

The platform shared their account performance with another review platform. We don’t know whether the platform has paid the review team to try and sell the credibility of these results. Even though the platform offers the account of Aura Group Ltd, it is not enough. They should have shared their results with credible platforms such as FX Blue or myfxbook. Aura Group is a capital solution, funds, and wealth management platform. It is unlikely that such a platform would go to an unregulated platform for management advice.

Scam or Legit ICA Trading

ICA Trading is falling short on its efforts to produce quality and secure managed services. Without any license from their areas of operations, we have to warn users about this platform. It is best to go for other proven alternatives that have offered more realistic results. They sound professional and a good idea for those who wouldn’t mind taking the risk. The overall presentation is welcoming and shows good intent. However, this is not enough to warrant our recommendation.

Our Verdict

A first-time investor should not in their right mind use ICA Trading as a means of investment.

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