ICL Markets

After spending since early this year trying to make ICL Markets work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.

I requested my data from ICL Markets under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.

I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that ICL Markets has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.

What really bothers me about ICL Markets is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them after reading several online reviews and I fell for the polished exterior. Never again.

Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. ICL Markets said it was market conditions. Same news, another broker filled me properly. They are not honest.

After for about three months with ICL Markets I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.

I wanted to transfer my portfolio from another broker to ICL Markets. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.

I was contacted by ICL Markets through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.

I looked into ICL Markets and found they appear in the regulatory warnings database. Central Bank of Ireland has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.

I invested $25,000 with ICL Markets after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Central Bank of Ireland.