We received a complaint about a scam related to ICMarkets Australia. The victim lost $32,000 while trading forex.

The fraudulent activity was carried out through their platform, and the scam involved pressuring the victim into making additional trades and deposits.

The victim’s loss occurred when the scammer manipulated their trading experience, making it seem like they were participating in legitimate forex transactions when, in reality, their funds were siphoned off.

No withdrawal requests were fulfilled, and the scammer used several tactics to prolong the victim’s participation, including promises of high returns and personal support in managing the trades.

The scammer operated with remarkable persistence, keeping close contact with the victim while presenting themselves as trustworthy representatives of ICMarkets.

Unfortunately, despite the appearance of legitimacy, the scammer disappeared when the victim requested to withdraw their profits, and all access to the funds was blocked.

The scam’s use of remote desktop tools and cryptocurrency transactions, along with a polished website, gives it a veneer of professionalism, but it is nothing more than a ploy to rob unsuspecting investors.

From what we’ve gathered, this scam follows a pattern we’ve seen often: high-pressure sales tactics, empty promises of profits, and the eventual blocking of all communication once the victim tries to access their supposed earnings.

Is ICMarkets Legit?

IC Markets Global, found at https://www.icmarkets.com/global/en/, is not authorized to provide or promote financial services in the UK.

The FCA issued a warning on 01/10/2024 stating that this firm might be offering services without proper permission and that individuals should be cautious when dealing with them, as they may be running scams.

Despite its professional appearance, IC Markets Global has not been approved by the regulatory authorities and may target people in the UK.

It is recommended that the company avoids interacting with them, and it is listed among other unauthorized firms.

Their contact details include several phone numbers and email addresses, which they might use to communicate with potential victims.

If ICMarkets scammed you, share your story below or get cryptocurrency tracing assistance.