ICL Markets describes itself as a high-quality provider of forex and CFD trading for new or professional investors. With supposed advanced features such as MetaTrader 5 (MT5), content to educate investors, and investment assistance, it seems to be an acceptable option at face value. However, we found some concerning information in terms of ICL Markets’ suspected fraudulent activities, including several messages that indicate possible fraudulent intentions.
Is ICL Markets a Legitimate Broker?
What do regulators say about ICL Markets?
ICL Markets has been given official warnings from financial authorities, including the FCA (UK), ASIC (Australia), and FSMA (Belgium). These warnings should serve as warning signals, letting investors know that this trading platform is not properly licensed to trade, nor regulated, and not only that, they could be a dishonest company, but also a high risk to investor funds.
Check FCA Warning – https://www.fca.org.uk/news/warnings/icl-markets

Check ASIC Warning – https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!icl-markets-icl-markets-com–2578

Check FSMA Warning – https://www.fsma.be/en/warnings/advertisements-celebrities-spotted-social-media-beware-fraud-0

Are the ICL Markets Websites Still Active?
What domains has ICL Markets used?
The broker has been seen primarily operating on the following domains:
- icl-markets.com
- iclmarkets3.com
- iclmarkets.com
All of these websites are currently inactive, and the abrupt disappearance raises suspicion of ICL Market’s exit strategy, to potentially avoid negative backlash for their shady activities or some form of legal action.
Can the Reviews on Trustpilot Be Trusted?
Are the positive reviews authentic?
Many positive reviews of ICL Markets exist on Trustpilot, but most of the customers suspect that they were fake or manipulated. One reviewer has said that, while the company claimed to have existed for 8 years, the domain was not registered until the 31st of January, 2025. Several others look like forged or misleading reviews to lure unaware investors.
What Are the Victims Saying?
Are there real loss stories?
Yes indeed, there are heartbreaking experiences shared by several people:
- A Canadian investor lost more than CAD 100,000 to an ICL Markets-associated scam.
- Others complained about difficulties in withdrawing funds, excessive recovery fees, and no actual recoveries.
- The users also went on to say that fake support staff purportedly from the legitimate crypto exchanges are the ones they were referred to.
Final Thoughts
Repeated misleading of investors and voiding the responsibilities by ICL Markets go without saying. With fake websites, false claims, and regulatory warnings, you should thoroughly avoid this one.
Worried You’ve Been Tricked by ICL Markets?
Visit LegalCertifi.com and file your case.
Our platform helps you get to know about recovery options and places a flag on unsafe platforms for others to see.
Check more scam broker reviews here.
To receive current updates, you can follow us, receive expert opinions and warnings about scams, please join us on:
Leave a Reply