IconTrade

IconTrade | 2024-11-22 18:30

Abstract：Founded in 2006, IconTrade is an unregulated broker registered in South Africa, offering trading on stocks, indices, forex and commodities with leverage up to 1:200 and variable spreads via EasyTrader trading platform. The minimum deposit requirement is $250.

Note: IconTrade's official website: https://www.icontrade.com/ is currently inaccessible normally.

IconTradeReview Summary
Founded	2006
Registered Country/Region	South Africa
Regulation	No regulation
Market Instruments	Stocks, indices, forex, commodities
Demo Account	/
Leverage	Up to 1:200
Spread	Variable
Trading Platform	EasyTrader
Min Deposit	$250
Customer Support	Tel: +27 100066967
Customer Support	Email: support@icontrade.com

IconTrade Information

Founded in 2006, IconTrade is an unregulated broker registered in South Africa, offering trading on stocks, indices, forex and commodities with leverage up to 1:200 and variable spreads via EasyTrader trading platform. The minimum deposit requirement is $250.

Pros and Cons

Pros	Cons
Various trading products	Inaccessible website
Multiple account types	No regulation
No commissions	No demo accounts
	Unclear fee structure
	No MT4/MT5 platform
	High minimum deposit requirement
	Limited payment options

Is IconTrade Legit?

No. IconTrade claims its registration with FSCA, but there is NO detailed information that can prove that. It is a suspicious clone broker.

What Can I Trade on IconTrade?

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Stocks	✔
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

Here are four account types IconTrade offers:

Account Type	Min Deposit
Basic	$250
Gold	$25 000
Platinum	$100 000
PRO	$250 000

Leverage

The broker offers max leverage at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.