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IC-Crypto Review | "Beat the volatile market" or a SCAM?

by Kevin Berry
Rating: 
  1/5   Reviews: 1
IC-Crypto - logo

“Beat the volatile market” is the slogan of the brokerage company IC-Crypto, founded a long time ago, as stated on the official website. The exact founding date is undisclosed, as is the license, but there’s a large team of anonymous experts ready to assist traders. Of course, we won’t take their word for it. Legal address and business model are not specified, while online reviews are too few to consider the broker as an experienced and well-known player in the forex industry. We will analyze in detail the platform, which, apparently, is a scam. Join us if you want to know more.

Highlights

🏛️ Country St. Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://ic-crypto.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:100-1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@ic-crypto.com
📞 Phone +00 11 222 333

First Impression of Ic-crypto.com

IC-Crypto tried to create a unique website in every sense. However, they ended up with a bulky resource that is poorly optimized. The main page loads too slowly, and at some point, scrolling with the mouse wheel becomes unavailable. Visitors to the site are unlikely to be willing to wait several minutes for a new section with information to open.

IC-Crypto - site

The standard panel with basic information about the company and terms has been moved from the top to the right, but the same sections can be found in the footer. The color scheme and font type are chosen terribly – it’s jarring and makes browsing the site unbearable. Moreover, IC-Crypto seems to follow a policy of minimal data disclosure, as most of the text lacks serious, meaningful content, and important facts are simply absent.

It is impossible not to notice the templated nature and similarity to other broker’s websites. We have already encountered similar firms that have turned out to be illegal. At the same time, the IC-Crypto resource is only in English, and the user agreement, bonus policy, AML & KYC, and other documents are uploaded as screenshots, not text, making it difficult to search for necessary information.

Partnership and Bonuses

IC-Crypto offers an affiliate program. The essence of the program is that a trader invites new clients using their referral link and in return receives a reward from the deposit or from the trading commission of the invited partner. The referral must invest no less than $1,000, and the trader receives 10% of the deposit amount. The maximum bonus from each invited user is $25,000. The referral also receives a 5% bonus for their replenishment.

In addition to this, the broker offers a bonus promotion. However, it is important to remember that it is not free money. IC-Crypto requires a turnover that is 50,000 times the size of the bonus money within 90 days; otherwise, it will be impossible to withdraw the bonus and any profits derived from it.

The issuance of referral rewards in the form of bonuses is a favorite practice of fraudsters. No honest and legal brokerage company adheres to such conditions. An intermediary should be paying out a small part of the commission that the referral pays for their trades, that is, sharing their own profit. Huge bonuses and this type of affiliate program are serious indications of a dealing desk.

Account Opening on Ic-crypto.com

The registration process at IC-Crypto starts by providing a name, country of residence, contact details, and a password. You can also enter a promo code, if available and agree to the terms.

Registration

For us, the account creation process ends here. After submitting a request, a message appears: “We have received your request, see you soon!” This suggests that company representatives will contact the prospective client, which is a questionable practice. What if a trader doesn’t want to communicate and just wants to create an account, fund it, and start trading? Moreover, no demo account is found at IC-Crypto.

Verification

The broker adheres to Anti-Money Laundering & Know Your Customer policies, therefore, each client is required to provide documents for verification purposes. This procedure is standard here and involves submitting two types of documents: proof of identity and proof of residence. If the account is being funded using a credit/debit card, a photograph of the card with partially obscured details must be provided. IC-Crypto does not disclose the processing time.

Pros
  • None.
Cons
  • The document processing time is unknown.
  • The broker requires a photo of the bank card.

Trading Software

Despite the inability to quickly register an account without the involvement of IC-Crypto staff, we can still evaluate the trading platform. It is a rudimentary WebTrader, available only in a web version. There is no separate smartphone app or computer program developed. For professional and serious trading, web traders often do not suffice.

Terminal

The functionality of the IC-Crypto terminal is limited to only basic features: technical analysis, essential indicators, various types of charts and time frames, and customization settings. What about automated trading, copy trading, uploading custom indicators, and many other advanced tools? The broker could have provided a more sophisticated alternative. For instance, MetaTrader would have been well-suited for the task. However, traders do not have a choice. They are only provided with a web trader that has a bare minimum of options.

Features IC-Crypto Aegis Corporate Financial Services CryptoLogicIQ
Demo Account
Mobile App
Own Development

How Can I Trade With IC-Crypto?

It is a CFD broker, which means trading on its platform is available only through this type of instrument. There are no futures contracts or a spot market. A variety of asset classes are available: cryptocurrency, stocks, indices, commodities, forex, and metals. The minimum deposit at IC-Crypto is $250, but this depends on the chosen tariff plan.

All Info About Accounts

Traders have a choice of 5 different types of accounts. In addition, the broker offers a VIP Program, but it is by invitation only. The better the tariff, the more one needs to deposit. The first tariff at IC-Crypto starts at $250, with clients receiving leverage up to 1:200, assistance from a personal manager, one webinar, and access to arbitration. Well, that’s quite a meager set of services. However, the second account type does not differ from the first, except for the minimum amount of $10,000. Then what’s the point?

Account type

Next, deposit requirements increase exponentially: $50,000, $100,000, and $250,000. The broker does not present anything remarkable, yet asks to invest huge and serious sums of money. Additional services include:

  • Professional personal manager.
  • Wider leverage up to 1:400.
  • Educational academy.
  • Analyst.
  • Unlimited access to webinars.

Leverage up to 1:400 cannot be offered by a broker with licenses, because regulators prohibit offering such high leverage. That’s one thing. Second, the minimum deposit of $250 is most often found with fraudulent organizations. This should be added to the absence of a demo account. Third, the size of commissions and spreads are not specified. What will be the user’s costs? Unknown.

A policy of secrecy and anonymity combined with the principle of “pay more money to get better service” are almost guaranteed signs of a fraudulent brokerage firm. Will IC-Crypto be an exception?

Pros
  • None.
Cons
  • The broker lures money out of clients.
  • Hidden trading conditions.
  • No demo and Islamic accounts are available.

Market Analysis and Education With Ic-crypto.com

Clients can take advantage of free e-books, search for answers to popular questions in the FAQ section, and study the glossary. The firm also shares educational articles about trading, analytics, recommendations, and investment signals.

Deposit, Withdrawal, and Fees

Different sections of the official website mention various payment methods. Traders can use credit/debit cards, bank wire transfers, e-wallets, and Bitcoin to fund their deposits. Withdrawals are made using the same method as the deposit. The minimum withdrawal amount is $100, and IC-Crypto also charges a 1% commission. Processing time for requests is up to 7-10 business days.

Looking at such conditions, it’s hard to say that this company is advantageous. Withdrawals take too long to process, plus there’s a commission fee.

Features IC-Crypto Vertexfy SkillsTech
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

IC-Crypto offers just two ways to communicate with managers and employees. These are through a telephone number and email, but more accurately, only through email, because the telephone number listed in the “contacts” section appears as “+00 11 222 333”, which is unlikely to be real.

Where is the online chat for prompt feedback from technical support staff? Where are the social media accounts? Where is the legal address? There are many questions concerning IC-Crypto.

Pros
  • None.
Cons
  • No phone number, online chat, or social media accounts.

Is IC-Crypto Dangerous?

At this stage of our review, we can already say that the broker has enough signs of fraud. The firm is almost indistinguishable from other scammers: the same minimum deposit, the same policy of extorting money, similar conditions, secrecy, and anonymity. However, let’s examine the most important thing: the legitimate status and duration of IC-Crypto’s operations.

How Long Does The Broker Work?

When the firm was founded is a very important and correct question. The broker’s website only tells us that it was founded too long ago. However, we find it hard to believe that a supposedly experienced brokerage intermediary would have too few online reviews and a fresh domain that was only registered on October 12, 2023. There is no doubt, IC-Crypto started operating quite recently.Domain

How Is IC-Crypto Regulated?

The firm is as secretive as possible, so much so that not even the legal address is indicated, but the user agreement mentions the offshore jurisdiction of Saint Vincent and the Grenadines. Let’s try to find a broker there. Maybe it will be there. Alas, in the SVGFSA, such an organization does not even exist. IC-Crypto does not have a license and, most likely, does not even have an officially registered legal entity.

IC-Crypto - SVGFSA

Features IC-Crypto NordEquity AME Capitals
European Zone
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With IC-Crypto?

First, you need to create an account. For this, it is necessary to provide personal information, agree to the terms, and then submit an application. Afterward, you have to wait until the application is processed by the firm's managers. It is not known how long to wait and how the employees inform about successful registration.

Is IC-Crypto Legit?

The legal address is not indicated, and licenses are ignored. Checking the SVGFSA registry showed that such a broker is not present there. There is no license, as well as no official registration.

How Risky Is It?

It is not worth risking your money for nothing. IC-Crypto is the maximum risk for a trader's deposit. An anonymous firm without a license can easily steal money and deny withdrawals.
Kevin Berry
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Expert Opinion

It’s hard to believe that anyone would trust the scammers from IC-Crypto and give them their money. After all, you can’t even register here. How do scammers deceive and defraud people of money? I don’t even know. Maybe they call by phone and create accounts for their victims themselves? I don’t know. However, I do know that it is a scam broker, so there are no guarantees here. There is no license and legal address, the trading conditions are as bad as they can get, the platform is primitive and unsuitable for trading, nothing is known about the broker on the internet, there is almost no information, and the operating time is less than a month. Just zero guarantees, and a million red flags.

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1 review about IC-Crypto

Juan Mata November 14, 2023 - 03:16
The broker is a scam. Not suitable for trading
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Not the best broker for trading. I would say the worst broker. I warn you, if you want to trade with IC-Crypto, it will result in losses for you. You will lose all the money that you transfer to the scammers. In front of you is a fake site that engages in blatant fraud. There is nothing that could protect the pseudo-company. Stay as far away from such scammers as possible.

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