ICTrades.com-Overview of Minimum Deposit, Leverage, Spreads

General Information

ICTrades.com is owned and operated by an offshore company - Pro Star Griffith Corporate Limited, based on St. Vincent and the Grenadines. The broker, which claims to be regulated by the Financial Conduct Authority in the UK, is blacklisted by both the Italian CONSOB and the Financial Market Authority in Austria.

Market Instruments

ICTrades.com offer investors 50 currency pairs, some of which minor or exotic, as well as various CFDs on commodities, precious metals, indices, stocks and even crypto coins like Bitcoin, Ethereum, Ethereum Classic, Ripple, Dash and Litecoin.

Accounts & Leverage

There are four kinds of account types for investors to choose from at ICTrades.com, namely Classic Account (minimum deposit of $1,000), Gold Account (minimum deposit of $10,000), Platinum Account (minimum deposit of $25,000) and VIP Account (minimum deposit of $100,000). With most brokers you should be able to start trading with up to 250 USD, while ICTrades.com asks for a minimum deposit of no less than 1,000 USD and this is absurdly high. The maximum leverage is up to 1:400 for this broker.

Spreads & Commissions

The benchmark EURUSD spread is fixed at 3 pips, which is at least twice the spread traders would usually consider acceptable. No information about commissions can be found.

Trading Platform Available

ICTrades.com provides clients with access to the worlds financial markets through the MetaTrader 4 (MT4) platform which is used by millions of traders around the globe. The presence of MetaTrader4 is always welcome and yet in this case the platform is provided by a third party - Algo Trade Limited - and this is not a usual practice.

Deposit & Withdrawal

No information about funding methods can be found.

Trading Hours

The trading times at ICTrades.com depend on the specific market. The forex market, for example, is open 24 hours a days, 5 days a week.

Customer Support

If clients have any questions or concerns, please call at +44 2039 948804 or email at support@ictrades.com for consultation.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.