Icorp Securities is a new broker on the financial market with a solid website. However, there is an issue with the lack of basic information, which made us investigate further. Read our Icorp Securities review and find all the details about the firm.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | icorpsecurities.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | 2022 |
| Supported Platforms: | Activ8, WebTrader, MT4 |
| Minimum Deposit: | $200 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | Yes |
| Accepts US clients: | Yes |
What About Icorp Securities Regulation?
Icorp Securities is an entirely anonymous brand, not listing the company owner, headquarters, etc. The Terms and Conditions suggest that the governing law is the law of Estonia. Despite this Eastern European country being a part of the EU, we all know it’s a known place for financial cover-ups. It’s a sort of an offshore entity in the middle of Europe, used by many scam brands.
In addition, we strongly advise you not to invest inIGC Trades,Chase Capital Online andUni-Cofraudulent brokers.
Why Must a Broker Have a License?
Also, if you want to have a money-back guarantee, you need to find a Tier1 regulated broker. These firms have significant compensation funds, and regulators can easily get your money back.
So, you have nothing if you deal with anonymous companies like Icorp Securities. Additionally, no regulator, no compensation fund, not even a way to find a broker after your money is stolen. That’s how many become trading scam victims.
Traders Reviews About Icorp Securities Scam
Traders reviews are pointing toward the most severe issues. The firm is not legitimate, and clients who request withdrawals have difficulty. Basically, once you submit a payout request, you can expect your trading account to be frozen and nobody from the broker’s support team will ever reach out again.
Supported Trading Platforms – Available Trading Software
Icorp Securities says to offer 3 trading platforms – Activ8, WebTrader, and MT4. However, the Account Types section shows that Activ8 is the only option regardless of your investment.
Activ8 is a white-label platform offered by Leverate, known as a scam firm providing its services to fraudulent brokers. Basically, Leverate has a CySEC license, and they’re borrowing it to many brands that have no regulation whatsoever. That way, scam firms abuse the system and steal the funds, all under Leverate’s coverage.
Even if the company really provides MT4, it means nothing since Icorp Securities is not regulated and doesn’t inform you about the basic trading conditions, such as leverage and spread.
Everything About Icorp Securities Trading Accounts
There are 3 account types to choose from.
The difference is in the bonuses and minimum lot size.
Icorp Securities Range of Trading Instruments & Markets
Icorp Securities offers to trade on the following markets:
- Forex
- Commodities
- Indices
- Shares
- Cryptocurrencies
Also remember the names of theGMGroup,ZMarket Global andOriginInvest trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Icorp Securities Deposit, Withdrawal Methods, and Bonuses
As you saw, the minimum deposit is $200, which is pretty solid. However, the issue comes when you want to withdraw your funds.
First of all, the company is charging 50 units for wire transfer withdrawals and 25 units for credit/cards and E-wallets, with additional 10 units processing charge for the latest method. Also, you will be charged an extra 10% if you haven’t reached 200 in turnover before requiring a withdrawal. If it means 200 lots, it means you need to trade $20 million not to be charged this fee, which is ridiculous.
Furthermore, the broker charges an inactivity fee of 10% if your account is inactive for more than 6 months.
If you have accepted the bonus, it means you will have to trade 25 times the bonus plus the deposit amount before being able to submit a withdrawal request.
Unsafe Payment Options
The broker claims to have enabled using:
- Debit/credit cards
- E-wallets
- Wire transfers
Yet, it means nothing if you do not know where your funds are being transferred. Since the firm gives nothing about the headquarters, it can be offshore, in places like Saint Vincent and the Grenadines or the Marshall Islands. Once transferred there, funds are tough to track and recover.
Problem With Withdrawing Funds
With everything being said, you already figured that Icorp Securities is not happy to grant withdrawals. They did everything they could to prevent you, including legally adding insane Terms and conditions. Therefore, no wonder that most complaints are about this problem, and clients have no idea how to recover stolen funds.
Scammed by Icorp Securities Broker? – Let Us Hear Your Story
If you’re a victim of Icorp Securities scam, let us know. Our chargeback specialists have experience dealing with fraudulent companies and will be glad to assist you with this matter.
But What Is A Chargeback?
It’s a way for your bank to recover the funds from the merchant. Let’s not waste more time. Contact us via online chat to book a FREE consultation, and we can help you get your funds back!