Icorp Securities Review: The Hidden Truths About This Broker

At first glance, Icorp Securities appears to be a promising and enticing brokerage firm. Boasting its status as one of the largest financial institutions, with a specialization in FX and CFD trading, Icorp Securities seems like a promising choice. Yet, upon closer examination, critical information is noticeably absent. 

The website fails to provide the company’s name, corporate address, or background. Also, there is a glaring absence of any mention of a license or clearance. These significant omissions strongly suggest that this broker is involved in fraudulent practices. Let’s take a look at more details in this Icorp Securities review.

Icorp Securities’ License and Fund Protection

This fraudulent company has numerous hidden aspects that raise big concerns. Firstly, it falsely claims to be located in London, UK, lacking proper regulation. In the UK, all brokers are required to be legally licensed by the Financial Conduct Authority (FCA). Yet, upon checking the FCA’s records, it becomes evident that Mondial Investments LTD, the so-called company behind this broker, is not authorized.

This discrepancy strongly suggests that the broker’s provided address is likely fabricated. This indicates ulterior motives concerning your funds. Investing in such fraudulent firms carries a substantial risk of being scammed. Why is that? Well, primarily because there is no client protection available in case of financial losses.

In contrast, regulated brokers operate under strict rules and oversight by the UK financial authority, ensuring the safety of clients’ funds. Therefore, conducting thorough research and exclusively investing in properly regulated brokers is vital to protect your money’s security.

Note: Be careful with organizations like Icorp Securities and FxTime to assure your safety.

Trading Platform Overview

Icorp Securities presents three trading platforms: MetaTrader 4, Active8, and WebTrader. Yet, the reality is that only the WebTrader platform is actually available. This is unsurprising considering Icorp Securities’ lack of support for third-party trading platforms.

Unfortunately, the WebTrader platform falls short of expectations. It is disappointing that they do not offer the widely acclaimed MT4, which is renowned as the industry’s most popular software. Active8 is a decent platform, but not offered by this broker.

Now, what about the mobile app? If an MT4 platform were available, you would be able to download it. However, since there is no availability of MT4 in this case, downloading it becomes impossible. Instead, WebTrader can be accessed from mobile phones.

Nevertheless, the platform’s inefficiency remains the same. We strongly advise against using this platform, as it does not meet the necessary standards for a smooth trading experience.

Account Types Offered

As far as we know, Icorp Securities offers three different trading account options, Each of these accounts has varying prices and minimum lot sizes:

• Micro Account with a minimum deposit of $200.
• Standard Account with a minimum deposit of $2,500.
• Premium Account with a minimum deposit of $50,000.

As you can see, there are significant price differences between these account types. If you open a live trading account with Icorp Securities, it’s critical to know that trading involves big risks. Icorp Securities does not provide a demo account on its website, which raises a significant red flag. Your funds are at stake.

Icorp Securities’ Deposit and Withdrawal Process

While Icorp Securities may accept payments via VISA and Mastercard, this does not automatically make them trustworthy. Depositing funds on their anonymous site significantly restricts your legal options in case your money falls victim to scammers. Their lack of identifiable information further complicates legal action.

It’s a must to note that despite a minimum deposit requirement of $200, Icorp Securities imposes substantial fees on transactions. Credit card and e-wallet deposits cost $25, wire transfers cost $50, and an additional $10 processing fee is charged. Moreover, an exorbitant 10% fee is levied if you haven’t traded up to 200 lots, which is an alarmingly high rate.

How Is the Con Carried Out?

Offshore brokers are notorious for deceiving people. One of their go-to methods is to dangle the promise of unrealistically high profits in front of people’s eyes. They’ll swear that they possess a secret formula that can generate enormous returns without fail.

Moreover, these fraudulent brokers may use fabricated positive reviews to trick investors into thinking they have a sterling reputation. They may also employ psychological tricks to pressure investors into making hasty decisions. These tricks include presenting fake deadlines, falsely claiming that the offer is limited, and creating a sense of urgency.

To make matters worse, some shady brokers may entice investors with “risk-free” trades, hoping to lure them into investing without doing their due diligence. It’s crucial to stay vigilant and informed about these tactics. Don’t let these corrupt brokers rob you of your hard-earned money.

Get Helpful Information Delivered Directly to Your Inbox

If you have undergone a negative experience with this or any other fraudulent broker, we encourage you to share your story with us. Our primary objective is to provide unwavering support in every way.

Furthermore, we are dedicated to helping you find the most trustworthy FX broker on the market. Contact us today for a free consultation and discover the most reliable brokers in the industry. We are here to guide you on a secure investment journey.

Icorp Securities Summary

On its website, Icorp Securities is unable to provide essential information. The absence of a company name, address, and background, coupled with the lack of mention of a license or authorization, strongly suggests fraudulent activities.

Moreover, Icorp Securities offers only the WebTrader platform, which falls short when compared to MetaTrader 4. The absence of a mobile app further adds to the drawbacks. WebTrader itself is inefficient and lacks performance. Also, while the broker provides various trading accounts, the absence of demo accounts raises concerns.

Depositing funds on Icorp Securities’ anonymous website severely limits your legal options in cases of scams. The broker also imposes substantial deposit fees, and the fees become significantly higher if you fail to meet trading volume requirements. It is crucial to carefully consider all factors before engaging with Icorp Securities or BitOpps.

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