A broker who’s trying to hide their shady business is what ICFinancials is all about. There’s a lot to say in regards to IC Financials, whose credibility is wanting. Investment Capital Financials is the full name of this anonymous brokerage firm. Invesco Financial is the other name that the broker is using. Another name to look out for is INVESCAPITO, which they are using on their false registration documents. With all these names, it’s clear that icfinancials.com is an outright scam.
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Once you land on their homepage, don’t be easily deceived by the appealing design. That’s what the scam artists want you to believe that this is a professional brokerage firm. Just below the main header, there are several accolades the broker boasts of achieving.
Some of these accolades include 2013 Best Broker, 2015 Best ECN Broker, and more. These awards run from 2013 to 2018. What’s funny is that the website went live just two years ago. And this is one of the many red flags we spotted with the platform.
The disclaimer at the footer of their homepage claims that ICFX and ATA Group operate this platform. We did thorough research and found that ATA Group does not have any subsidiary in the trading world.
In fact, they only deal with Aerospace, Automotive, Marine, Railway, and others. The company is based in Ireland with offices in the UK and Australia. These scam artists just wanted to use their name to try and sell their legitimacy. The plan is now out in the open.
With the VIP account, members get a 200 percent credit bonus. These bonuses are another way of enticing users to sign up and deposit more funds. The platform is now operating as a banking institution offering loans for trading.
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A closer look will reveal that these bonuses will later be used to block withdrawals. Even if the platform works and you make a profit, withdrawal is next to impossible. Other promotions include affiliate programs that have still yet to pay their members.
Some of the benefits the broker claims to offer include advance mode trading conditions and an Expert panel. Both of these features are yet to be seen by members of the platform. We don’t know who sits on the panel as the platform is completely anonymous.
Members are signing up and depositing their hard-earned funds to an unknown entity. For all we know, this could be a money-laundering operation. There are a lot of questions with this platform that need to be answered.
No one in the industry has had the chance to prove that the platform makes a profit. And this is a pointer that all their years in the industry have gone to vain. No one knows the platform despite claims of winning numerous awards.
A closer look at the awards reveals the truth about this platform. The broker is using award logos and stickers to try and entice unsuspecting investors to sign up. If the award were real, these awards would come with the broker’s name engraved on them.
With the platform claiming to win numerous awards, the domain details show another story. The website went live on 17th September 2019. It begs the question of when and where they received their awards. There are 55 changes made on the IP over the last 14 years.
It shows that the platform is far from being transparent. Their servers are in Dronten, Netherlands, with no major traffic in the UK. This is another well-planned scam platform out to rip off unsuspecting investors.
ICFinancials is offering clients four account types to choose from. These accounts include Micro, Basic, Standard, and Trader. The minimum deposit is $100, $1,000, $2,000, and $5,000 respectively. Spreads start from 0.01pips leverage is set at 1:1000 for Micro and 1:7000 for Trader.
Scalping is not available on any of the four accounts. ROBO auto trading is only found on Standard and Trader accounts. There are no accurate details or performance of their automatic robot trader.
As we expect from such a scam, the depository options cover all parts of the globe. You can deposit funds using various channels available on the platform. These include MasterCard, Neteller, Skrill, UnionPay, Visa, and WebMoney.
We do have a problem with the lack of withdrawal terms and conditions. It’s a part that the broker leaves out for a reason. The broker wants to control when users make withdrawals and also when best to block them.
The platform uses the MT4 trading platform, which is an intuitive system for all traders. We do recommend the use of MT4 and MT5 platforms as they are secure and offer valuable insights. However, IcFinancials is lying to clients when they claim that you can download MT5 on their site.
Once you click on the download tab, nothing happens. It seems that this could be a form of phishing that could take over your PC. Beware of such broken links on an anonymous platform.
ICFinancials is by far an UNREGULATED entity that holds no bearing in the online trading world. All the documents you see on their website are forgeries. We can see that they have made an edit on the certificate by adding their name.
Font and color are different from what is the norm with SVG certificates. The broker tries to fool the unsuspecting investor into believing that this is a legit platform.
None of their license numbers even appear on the SVG registered companies. Not only are they lying, but they are also using false documents. It’s the extent they will go to ensure that they get investors into signing up.
The problem with such a platform is that there’s a lack of transparency and security. In the event of bankruptcy, no one will receive the remaining balance on their accounts. The broker will run away and won’t bother looking back.
Expect no safety net when you sign up with this platform. All the safety nets are thrown out of the window by the false documents. There’s no security to cover deposits made by members of the platform. Insolvency can occur at any time, leaving members vulnerable to huge losses.
With the platform being totally anonymous, there’s a chance your personal information is used in other scams.
ICFinancials is a scam, and there’s no denying that they are using false documents. Authorities should act quickly on such websites and pull the site down. More and more victims will fall for this trap if nothing is done about it. Please share this post with your friends and avoid any contact with their sales team.
We won’t recommend a platform that is using false documents and lacks any transparency. With anonymity being their main feature, we abhor the use of IC Financials. Please stay away from it and use reputable brokers for a safe trading experience.
A safer way of trading and making money is having the right trading partner. Signing up with credible and reliable brokers sets you apart from the pack. You get firsthand knowledge on trading thanks to the experience shared. Start the signup process today, and get the best brokers in your corner.
We wish you all the best.
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