ICE Markets Review – Ice-Cold Charlatans Rob Forex Novices

Poor choice of assets, high deposit requirements and insufficient transparency are some of the most obvious reasons why any serious Forex investor would avoid the ICE Markets broker.

Another one is the absence of a valid license that supposedly exists, however, without any proof of that. What is really at play and how you can protect your funds is what our ICE Markets review reveals.

Broker status:	Unregulated Broker
Regulated by:	Unlicensed Forex Provider
Operating Status:	Active Online Trading Sham
Known Websites:	ice-markets.com  my.ice-markets.com
Blacklisted as a Scam by:	N/A
Owner:	ICE-FX Markets Limited
Headquarters Country:	Labuan (Malaysia)
Foundation Year:	2022
Online Trading Platforms:	MT4
Mobile Trading:	N/A
Minimum Deposit:	$30
Deposit Bonus:	Hinted, undisclosed
CFD Trading Option:	Available
Crypto Asset Trading:	Yes – BTC, ETH, XRP
Available Trading Instruments:	Forex, Cryptocurrencies, Metals, Commodities
Maximum Leverage:	1:300
Islamic Account:	No
Free Demo Account:	Available
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	Contact our legal team for help with asset recovery.

Why Cons Fake Licenses

Fabricated ICE Markets regulation information has a single purpose for fraudulent online trading firms: it simply makes them appear legit and credible. The ICE Markets scam practices the same deception.

ICE-FX Markets Limited is their owning firm, allegedly regulated and supervised by LFSA in Labuan. However, the firm doesn’t appear in the licensed money brokers database.

Considering that the company doesn’t own any other Forex certificate either, especially by a prestigious body like FCA, ASIC, CySEC and CONSOB, we can consider them as unsafe. In terms of fund safety that means no segregation of funds, no compensation plans or negative balance protection.

To successfully safeguard your deposits and make money investing, you should also avoid EZ Square and choose a regulated brokerage powerhouse instead.

Chasing The Dream

The firm itself has its own Facebook, VKontakte and LinkedIn pages, but these only serve to instill a modicum of trust in the general public.

Nearly all of the victims have found out about the con site through different social media. The most influential one is certainly the Instagram page of the “company CEO”, one Vladimir Kondrashov.

The apparent affluence and seemingly opulent lifestyle of this persona seem to be too difficult a prospect to resist. The firm’s Telegram page certainly helps the theft run smoothly.

Somebody Noticed the Hoax

It’s rather difficult to find any ICE Markets reviews online, and there’s a good reason for that. The cause for this is not that the public ratings don’t exist, but the fact that the ratings sites have spotted the deception.

If you take a look at the broker’s TrustPilot page, you’ll notice that it has been frozen on suspicion of fraudulent activities on the site. Other unregulated firms like EXMOEX are known to fake their online reviews, which might be the likely cause for the freeze.

Deceptively Old Site

Besides the falsified certifications, the firm is trying to pose as an industry veteran with a domain dating back to 2017. Unfortunately, ice-markets.com only started hosting the site we see today in January 2022. These swindlers are most active in the following countries:

• United States
• Canada
• France
• United Kingdom
• Netherlands

These con schemes don’t have a long shelf life. Fraudsters are known to abruptly pack up and disappear after a couple of years, and time is ticking. Don’t wait for the recovery opportunity to pass you by – contact our experts today!

MT4 For Existing Clients Only

The case of the platform is false advertisement at best. You’d expect access to ICE Markets MT4 download links and direct connection to the brokers live trading server. However, the desktop version of the software cannot be accessed unless you already own an account with the firm.

If you don’t – well tough luck; you’re only able to access the brokers links to demo mobile versions of the popular and much preferred trading software. That is useless in terms of testing the trading environment as demo versions are available from online stores, without some cons linking them to you.

Narrow Asset List

With a total number of instruments being 94, we can hardly call this broker’s offer rich and exotic. Prominent online trading portals often have more than several thousand products available for trading. All you’ll ever find on this mediocre platform are the following:

• Forex – EUR/USD, USD/GBP, USD/CAD
• Crypto – BTC, XRP, ETC
• Metals – Silver, Gold
• Commodities – WITI, Brent

Demanding Registration

Not just anyone can create an ICE Markets login. First you’re expected to enter a promo code. In case you don’t have it, a complex verification procedure that includes both email and phone confirmations is initiated.

Otherwise, the minimum deposit isn’t high, unless you decide to invest hundreds of thousands to buy yourself a worthless premium status. These are the available packages:

• STP-Demo – free, but demands an instant verification
• STP – $30
• STP-MA – $300

Terms Depend on Account Type

Trading conditions and costs may vary in accordance with the package you buy. Leverage is described as floating, and it may go up to an exorbitant 1:300 ratio.

On the other hand, commissions may start as low as 0.0025% depending on the instruments. For Crypto, trading costs are higher – 0.05%. Spreads are, unsurprisingly, not revealed and not even hinted at. We’d advise caution with such secrecy.

Bonus Withdrawal Gets You Banned

While the amount of different bonuses is never publicly disclosed, they are mentioned a number of times on the website.

Per client agreement, clients are forbidden from withdrawing any allotted bonuses. An attempted withdrawal of a bonus is considered fraudulent action, and is grounds for immediate account termination.

Contradictory Payment Options

One of the alarming features of the company is that the methods for ICE Markets deposit, and subsequent ICE Markets withdrawal differ significantly.

Of course, this directly conflicts the international AML regulation, and is, per Client Agreement, a forbidden practice. Now, putting two and two together here, it’s pretty clear that any withdrawal from the platform is pretty much impossible, as it would break the funding rules set by the company itself.

Is It Possible To Recover Stolen Money From Fraudsters?

There are many glaring issues with this broker. The company is unregulated, its trading features are lackluster, and the schemers are using unconventional methods to get new clients to invest. Unfortunately, once the funds are deposited, there is no way to get a withdrawal, as per Client Agreement.

We understand that it’s difficult to accept that you’ve been defrauded by a company you trust. Your story, however, doesn’t have to have a bad ending. Contact our experts today, and fight back for your money!