IC Markets | FinTelegram News

Tag: IC Markets

January 9, 2023

Updated Review: IC Markets And Its Offshore Activities!

IC Markets claims to be the world's largest forex broker in terms of trading volume. As of March 2022, IC Markets has a trading volume of $1.11 trillion with more than 185,000 clients listed on its website. Daily FX trades with a volume of $29 billion are reportedly processed. IC Markets works with regulated entities in Cyprus and Australia and also has offshore regulated entities in the Seychelles and the Bahamas. With a 4.9-star rating, the broker is one of the best in class. Here is an update.

August 16, 2022

IC Markets Promotes Calvin Mangalino To Head Of Compliance!

FinTelegram has reported several times on the global brokerage scheme IC Markets. In our various reviews, we have found that IC Markets is soliciting clients through its offshore entity Raw Trading Ltd in violation of UK and EU compliance rules. In October 2020, the Italian Consob had blocked IC Markets' website (website www.icmarkets.com) operated by Raw Trading. Now the broker has promoted Calvin Mangalino to the position of Head of Compliance at its company. He has a lot to do, we guess!

Illegal Broker Activities

June 29, 2022

Investor Warning Against GreenlinePro Broker Scam!

In January 2022, the UK Financial Conduct Authority (FCA) issued an investor warning against a number of ICMarkets clones. One of these ICMarkets clones used the domain www.icm-market.com. FinTelegram ran a report on this. Shortly after that the websites disappeared. Today the domain www.icm-markets.com links to various scam campaigns like Yuan Pay Group where victims are caught for other broker scams like Green Line a/k/a GreenLine. Stay far away.

June 28, 2022

The Vanished ZoomGlobalFX Broker And Its Legacy

In January 2022 FinTelegram reported a warning from the UK Financial Conduct Authority (FCA) against ZoomGlobalFX (https://zoomglobalfx.com). The website claimed that the offshore entity Raw Trading Ltd, regulated by the Financial Services Authority of Seychelles (FSA), would be the operator. However, this entity is part of the ASIC and CySEC-regulated IC Markets group. Sometime after our report, the ZoomGlobalFX broker scheme vanished into the dark of the Internet.

March 1, 2022

No! Your money is never safe with offshore brokers such as Moneta Markets!

In many cases like Moneta Markets or IC Markets, the brokers have regulated companies in the EU, UK, or Australia but use their offshore vehicles to circumvent the regulations systematically. Those working with offshore brokers are not eligible for investor compensation schemes in ESMA member states. Their money is not protected!

February 24, 2022

Why it is important! Offshore broker Raw Trading and Spectrum Payment Services!

We have received a critical comment regarding our Request 4 Information regarding Spectrum Payment Services Limited d/b/a CardOneMoney in connection with its offshore client Raw Trading Ltd, registered in Seychelles. We were asked why we find it worth mentioning that a broker has a business relationship with a UK Financial Conduct Authority (FCA) regulated payment institution. We wouldn't make a story out of anything there. Alright, we see it differently. Here's our response to the comment.

February 23, 2022

R4I – Let us know more about the high-risk payment processors CardOneMoney and FairFX!

We have brought an update on the offshore activities of the CySEC-regulated IC Markets group. The broker onboarded clients from Europe through its offshore entity Raw Trading Ltd in Seychelles. Through these, European customers are accepted without proper KYC/AML and can make bank transfers to the FCA-regulated Spectrum Payment Services Limited d/b/a CardOneMoney. That's part of the listed fintech Equals Group PLC. We'd like to know more about it.

February 23, 2022

Some offline brokers associated with CYSEC-regulated IC Markets vanished!

The UK FCA issued an investor warning against the offshore activities of the CySEC-regulated IC Markets group, operating in Europe through various domains and websites via offshore entities in Seychelles and the Bahamas. FCA also warned against the scam broker International Markets a/k/a IC Markets. The FCA has issued a warning against ZoomGlobalFX, which is allegedly part of the CySEC-regulated IC Markets group. Some of the illegal brokers vanished with their websites after the FinTelegram repor

January 12, 2022

FCA Warning Against ZoomGlobalFX Allegedly Operated By IC Markets!

The forex world is crazy. We know that at least since the era of fraudulent binary options. The boundaries between legal and illegal offers are blurred. For example, many CySEC-regulated brokers also have offshore entities through which they conduct their illegal activities. These are illegal if they violate existing laws and regulatory requirements. The FCA has issued a warning against ZoomGlobalFX (https://zoomglobalfx.com) which is allegedly part of the CySEC-regulated IC Markets group.

January 11, 2022

Again! Another FCA warning against IC Markets

Recently, the UK FCA issued an investor warning against the offshore activities of the CySEC-regulated IC Markets group, which operates in Europe through various domains and websites via offshore entities in Seychelles and the Bahamas. The FCA has now issued another warning against the scam broker International Markets a/k/a IC Markets, which operates with the domain https://internationalcapital-markets.com. The websites all work with the IC Markets logo and credentials.

January 10, 2022

Attention! UK regulator warns against CySEC-regulated IC Markets!

The UK Financial Conduct Authority (FCA) has issued a warning against the CySEC-regulated broker IC Markets and its offshore entity Raw Trading Ltd in Seychelles. The offshore broker operates with the domain www.icmarkets.com. The CySEC regulated broker IC Markets (EU) Ltd operates under license number 362/18 with the two approved domains www.icmarkets.eu and www.icmarkets.com/eu. The IC Markets offshore mutation also acquires clients from the EU and UK.

November 7, 2020

IC Markets blocked by CONSOB and thrown out by Inter Milan

In June 2020 IC Markets signed a sponsorship deal with Inter Milan. Under the agreement, approximately €14 million was payable to Seria A club over a 3-year period. This was reported by the FX News Group. In October 2020 Inter Milan terminated the agreement. IC Markets is said to have failed to make the promised payments on time and, moreover, the blocking of IC Markets for the Italian market by CONSOB allegedly also played a role in the termination.