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Score

1.38 /10
Danger

IconTrade

South Africa

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://www.icontrade.com/Home

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Score

Regulatory Index0.00

Business Index6.03

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

RIBOVA HOLDING INVESTMENTS (PTY) LTD

Company Abbreviation

IconTrade

Platform registered country and region

South Africa

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The South AfricaFSCA regulation (license number: 49213) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

IconTrade · Company summary

Note: IconTrade's official website: https://www.icontrade.com/ is currently inaccessible normally.

IconTradeReview Summary
Founded2006
Registered Country/RegionSouth Africa
RegulationNo regulation
Market InstrumentsStocks, indices, forex, commodities
Demo Account/
LeverageUp to 1:200
SpreadVariable
Trading PlatformEasyTrader
Min Deposit$250
Customer SupportTel: +27 100066967
Email: support@icontrade.com

IconTrade Information

Founded in 2006, IconTrade is an unregulated broker registered in South Africa, offering trading on stocks, indices, forex and commodities with leverage up to 1:200 and variable spreads via EasyTrader trading platform. The minimum deposit requirement is $250.

Pros and Cons

Pros Cons
Various trading productsInaccessible website
Multiple account typesNo regulation
No commissionsNo demo accounts
Unclear fee structure
No MT4/MT5 platform
High minimum deposit requirement
Limited payment options

Is IconTrade Legit?

No. IconTrade claims its registration with FSCA, but there is NO detailed information that can prove that. It is a suspicious clone broker.

No license

What Can I Trade on IconTrade?

Tradable Instruments Supported
Forex ✔
Commodities ✔
Indices ✔
Stocks✔
Cryptocurrencies❌
Bonds❌
Options❌
ETFs❌

Account Type

Here are four account types IconTrade offers:

Account TypeMin Deposit
Basic$250
Gold$25 000
Platinum$100 000
PRO$250 000

Leverage

The broker offers max leverage at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

IconTrade Fees

IconTrade offers variable spreads and no commissions.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
EasyTrader✔//
MT4❌/Beginners
MT5❌/Experienced traders

Deposit and Withdrawal

The broker accepts payments via VISA, Mastercard and Neteller.

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HW～杨景
more than one year
IconTrade's website is no longer open. I don't know if this company is out of business or a scammer, because I couldn't find much valuable information online. It's as if this company never existed. Hope there are no victims of possible forex scams of this company... It will be really hard to recover the funds scammed by them.
IconTrade's website is no longer open. I don't know if this company is out of business or a scammer, because I couldn't find much valuable information online. It's as if this company never existed. Hope there are no victims of possible forex scams of this company... It will be really hard to recover the funds scammed by them.
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2023-03-16 16:29
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