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Icap Group Review | An Investment Company or Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
Icap Group - logo

We’re looking at Icap Group, an investment company that initially piqued our interest due to its multitude of positive reviews online. Based in the UK, the organization is involved in cryptocurrency arbitrage and also allows clients to invest in its activities. However, to legally offer such services, regulatory approval and licensing are necessary, which the project lacks. Additionally, there are multiple red flags suggesting that this could be a financial pyramid scheme. Considering the firm was only launched on August 18, 2023, it’s our objective to prove that this is a scam and an outright financial pyramid.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://icap-group.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $10
⚖️ Yield 60%-80% monthly
⚙️ Investment Term 6 months
📨 E-mail support@email-icap-group.com
📞 Phone

First Impression of Icap-group.com

The official Icap Group website provides information on the company’s operations, investment terms, contact details, and more. Upon landing on the page, we’re greeted with the tagline “empower tomorrow through today’s smart investments”- a phrase that seems ironic given the project’s nature. Of course, calling such a project “smart investments” is not possible. The site has the hallmarks of High-Yield Investment Projects (HYIPs): a lineup of investment plans, insubstantial details about the company, along with bogus benefits, false statistics claiming 12,000 registered users, a multi-tiered affiliate program, a history of deposits and withdrawals made by other people, and fake positive reviews.

Icap Group - site

The website design is both cheap and unoriginal, seemingly tailored to attract naive investors. Icap Group makes inflated claims about its platform, stating it is “built upon the most advanced IT infrastructure, ensuring reliability and top-tier efficiency.” They also claim that client funds are held with “maximum security” and that returns are guaranteed, assertions that are highly questionable. They even go so far as to say their investment strategy is not only effective but also verified by regulatory authorities, an impossibility even in theory. All in all, it’s a generic platform replete with misleading and vacuous information, designed to create the impression of a serious organization.

Partnership and Bonuses

Icap Group has devised a multi-tiered affiliate program that consists of three levels. Investors earn a 10% commission on deposits made by their direct referrals (first level). Additionally, if that referral invites another individual to the platform (which would be considered a second-level referral), the original investor receives a 3% commission. For third-level referrals, the commission is 2%.

In addition, Icap Group holds giveaways and promotions regularly. For example, investors have the opportunity to win $100 for reposting a post from Twitter, but they need to deposit at least $10.

Account Opening on Icap-group.com

Creating an account with Icap Group is easy. To do this, you need to specify a username, email, country, and mobile, and then come up with a password and agree to the terms and conditions. Then you need to confirm your email and optionally specify additional personal information (first and last name, residential address).

Registration

When you log into your account, you’re immediately notified about your current zero balance and prompted to enable Two-Factor Authentication (2FA) as an added layer of security. The user interface allows you to keep tabs on all your investments, deposit, and withdraw funds, and reach out to customer support. Overall, Icap Group offers a fairly standard dashboard that doesn’t present anything unique or groundbreaking.

Dashboard

We initially thought the registration process was simple, but we ended up facing several issues. For example, the platform wouldn’t allow accounts to be registered with phone numbers from the UK, the Netherlands, Russia, and many other countries. While we can’t say for sure what the issue was, using a Filipino phone number finally enabled us to create an account. We also reached out to customer support through Telegram and submitted a ticket on their official website. Based on our experience, we can say that Icap Group’s customer support is sluggish and takes a lot of time to respond.

Verification

Icap Group provides no information regarding any verification processes. There are no sections devoted to AML or KYC procedures, and the dashboard doesn’t offer an option to upload any verification documents. Notably, other HYIPs we’ve reviewed also lacked KYC requirements.

Pros
  • Verification is not required.
Cons
  • It doesn’t say anything about KYC on the website.

How Can I Invest In Icap Group?

Icap Group offers wild returns, from 60% per month and more. The term of money placement is 6 months, compound interest is available, and withdrawal of funds is in manual mode. Minimum deposit size and yield depend on the chosen tariff.

All Info About Accounts

Icap Group has four tariff plans:

  1. Silver. The minimum amount is $10 and the maximum is $999. Duration 24 weeks, yield 15%/weekly. The body of the deposit is returned to the investor.
  2. Golden. $1,000-$4,999. 18%/weekly.
  3. Islamic. $200-$9,999, 17%.
  4. Diamond. $5,000-$9,999, 20%.

Clients can choose between two options of interest accrual, either weekly or monthly. The entire investment process can be monitored in the personal cabinet.

Tariffs

Promising 60% monthly returns, which adds up to an astronomical 720% annually without even considering compound interest, Icap Group offers rates of return that are implausibly high, exceeding market norms. Importantly, the company offers no evidence to substantiate these claimed profits as being generated from cryptocurrency arbitrage. Achieving such extraordinary returns consistently is practically impossible, unless the returns are actually being funded by new investors in what appears to be a pyramid scheme.

Pros
  • None.
Cons
  • Unrealistic deposit interest rates.
  • HYIP.

Market Analysis and Education With Icap-group.com

The official Icap Group website features a small blog dedicated to cryptocurrency arbitrage, explaining how it works, and its advantages. However, the blog only contains three articles, which upon closer inspection, appear to be identical pieces, just rewritten. Couldn’t they have created more educational content? Moreover, the FAQs section offers a scant seven answers to basic questions about registration, security, and user accounts. The absence of any market analysis or insight into the world of crypto-arbitrage raises suspicions that the firm may not be actively engaged in these activities at all.

Deposit, Withdrawal, and Fees

The minimum deposit amount to the system is $10, and the minimum withdrawal amount is $25. Account replenishment is made in the personal cabinet of Icap Group. An application is created in the corresponding section. Cryptocurrency wallet addresses and rules are also provided there. The investor must also specify the transaction ID and the sender’s address for the project to credit the balance.

Money transfers are processed only in cryptocurrency. Now BTC, ETH, USDT (ERC-20), BSC, BNB, BUSD, XMR, ADA, and DOGE are supported. The project does not charge commissions for transfers.

Features Icap Group Fimec Limited QuickPay limited
Debit/Credit Cards
Electronic Payments
Crypto Transfers ✔️ ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

You can get in touch with Icap Group’s management team through a variety of channels, including email, online chat, social media, or by filling out a specialized feedback form on their website. For direct communication, there’s also a user chat in Telegram where you can directly connect with a customer support representative and pose any questions you might have. The company also lists its physical office address in the United Kingdom for further reference.

The project has more than 5,400 followers on Twitter. However, the low engagement levels on the company’s posts suggest that the majority of these followers are likely fake. This pattern is also evident in the Telegram channel and chat, where messages from actual investors are notably scarce, and there’s a lack of vibrant discussion. Essentially, Icap Group seems to be inflating its apparent size and reach through the use of fake followers.

Pros
  • There are social networks (Twitter, Telegram).
Cons
  • Most likely fake followers.

Is Icap Group Dangerous?

So we’ve come to the most interesting part. The excessive interest rates, guaranteed profits, absence of verification procedures, and a tiered affiliate program collectively serve as red flags, strongly suggesting that Icap Group is operating a financial pyramid scheme. The next steps in our investigation will involve assessing the duration of the company’s operations and its legal standing to definitively substantiate our suspicions.

How Long Does The HYIP Work?

Icap Group is transparent about its duration of operation, as evidenced by the information available on its official Telegram channel, which states it launched on August 18, 2023. Given this relatively short period of activity, the firm cannot be considered well-established or trustworthy. The registration dates of their domain and social media accounts further corroborate it.

Interestingly, Icap Group is officially registered in the United Kingdom, with documentation confirming its establishment on August 7, 2023. However, it’s important to note that registering as a private limited company in the UK is a relatively simple and accessible process. Even foreign nationals can opt for this business structure, and the minimum required share capital can be as low as £1. Furthermore, the entire process can be completed in just a few days. As such, it shouldn’t be considered a significant or reassuring factor.

Launch

How Is Icap Group Regulated?

Icap Group claims to be a British investment firm, which implies that it should be licensed by the Financial Conduct Authority (FCA), the body responsible for regulating financial companies within the UK jurisdiction. While the FCA registry does list an entity named “TP ICAP GROUP SERVICES LIMITED”, it’s crucial to note that this is not the company under review; it’s a completely different organization.

Icap Group - FCA

Icap Group operates without a license from the FCA, although it should have one. It indicates illegal activity.

Features Icap Group Monix Capital Limited Metogence
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

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Expert Opinion

Investing in HYIPs poses a significant risk to your capital. There’s no doubt that Icap Group is operating as a financial pyramid scheme. The promise of 60%-80% monthly returns is unsustainable in any legitimate business venture, including cryptocurrency arbitrage, at least not without considerable risk. Add to this the multi-tiered affiliate program, guaranteed profitability, and the absence of regulatory licenses, and you have all the makings of a blatant HYIP. Importantly, there is no proof that an expert team or artificial intelligence is involved in arbitrage activities that generate profits. The sole aim here is deceit, designed to part you from your money.

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The level of trust
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3 reviews about Icap Group

Julian Persil August 18, 2023 - 06:26
Techsupport takes a very long time to respond
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Technical support does not answer me, and I can not apply for withdrawal. I open the withdrawal page and there is an error, the page does not load further. I wrote an email and also created a ticket on the site. Still no response from icap group tech support. I have the impression that I got into a scam.

Reply
Lamir Naser August 22, 2023 - 20:49
Typical fake project
The level of trust
Quick withdrawal of funds

Registering a company in the UK is incredibly straightforward – a task anyone can complete. Fabricating claims about profitable crypto arbitrage opportunities on a website is even simpler – a task even a novice could manage. Continually ordering fake positive reviews online is a simple task, and this is exactly what Icap Group is doing.
This shadowy group of anonymous scammers has managed to register a private company in the UK. What they’ve conveniently overlooked, however, is the legal requirement to obtain a license for operational legitimacy. This is where they’ve slipped up. Icap Group doesn’t have a license and is unlikely to ever get one. The UK’s Financial Conduct Authority will never endorse such a flagrant financial fraud scheme with a license.
So, steer clear of the tall tales and fake stories peddled by these anonymous scammers. There is no real arbitrage, profitability, or income to be found here. What you will find are deceit, fake credentials, fraudulent schemes, and the assurance of financial loss. You’re better off investing in legitimate enterprises rather than Icap Group.

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ShillerFiller August 31, 2023 - 13:06
I recommend not investing in Icap Group
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I recommend staying as far away as possible from the financial pyramid known as Icap Group. Unless you’re the creator of this fraudulent project or you’re a crook bringing people in through your referral link, setting them up for fraud and scam, you shouldn’t invest your money here. The fact is, if you’re an average investor, you will lose your money. Only the project’s founders and unscrupulous, fraudulent referral leaders will profit. You, as an ordinary investor, will simply finance their illegal activities. There’s no doubt that Icap Group is a dirty, shady, and fraudulent financial pyramid. Such yields are simply not natural. Furthermore, the multi-level affiliate program is direct evidence that we’re dealing with an HYIP. Once again – please, do not invest money here; you will end up losing it! Even if you manage to withdraw something from the company, it’s temporary. You won’t even be able to break even on your investments in this scam. Consider yourselves warned!

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