WikiFX Scam Alert: Plz keep clear of ICG24.COM!!!

Investors who are still trading forex at ICG24.COM had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First and foremost, let us start with the most obvious. ICG24 appears in the latest warnings list of the Financial Conduct Authority (FCA). You may check the recent FCA warning on the screenshot below (source: https://www.fca.org.uk/news/warnings/icg24):

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized or registered by us”, the FCA says, adding that “this firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong”.

WikiFX also paid a visit to the brokers official website to learn more. ICG24 claims to be a regulated UK broker with offices in the UK and Russia. In the meantime, their website was only available in Russian which makes it highly unlikely for clients outside of this country to actually turn to the broker. The broker has provided a UK Certificate of Incorporation and states that it is also registered by the Regulatory Oversight Committee.

All of these regulatory claims are false – the Regulatory Oversight Committee only keeps a database of companies and is not a financial regulator responsible for supervising forex brokers. A Certificate of Incorporation, on the other hand, only proves that a company is registered – not that it is licensed and allowed to operate.

ICG24 uses Gmail as their main corporate communication channel, which can easily be expected from scammers. Bear in mind that no legit company will ever use Gmail as a means for its corporate communication.

Furthermore, ICG24 offers access to a very simple and unimpressive web-based trading platform. This software offered barely any interesting features – other than some basic indicators and charting tools, and a standard Stop Loss/Take Profit feature. You would not be able to find any useful elements on the brokers web terminal.

When it comes to ICG24‘s spreads, WikiFX got great results – 0.5 pips on EURUSD. However, the broker has mentioned nothing about the commissions it charges – those might turn out to be anything but great. Moreover, scammers often manipulate platforms to make them manifest favorable results and trick you into investing – the broker’s actual spread could be much different.

Now let's search “icg24.com” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/2504279859.html), ICG24currently has no valid regulatory license and the score is rather negative - only 1.00/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in ICG24.COM. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.