Iconic Trades has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not use Iconic Trades for anything serious. I used them for just over a year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Regular platform improvements|Social trading features|Dividend tracking|Copy trading available
Cons: Alert system is basic
Do not believe the bonus offer from Iconic Trades. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited from a review site like this one and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Fast support response|Great customer service|Market news feed
Cons: Mobile app could be improved
I experienced a security concern with my Iconic Trades account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Clean UI|Easy to use platform|Dividend tracking
Cons: Alert system is basic|Slow to add new assets
Do not be fooled by the professional-looking website. Behind the scenes, Iconic Trades is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: No hidden fees|Demo account available|Regular platform improvements
Cons: Minimum deposit could be lower
The platform at Iconic Trades is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for over three years of dealing with this, I have had enough.
Pros: Tax reports included|Market news feed|Automated trading options|Dividend tracking
Cons: No dark mode on mobile|Currency conversion fee exists
I signed up with Iconic Trades through a podcast recommendation and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Clear documentation|Good analytical tools
Cons: Mobile app could be improved
I referred a friend to Iconic Trades after a family member had a good experience. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Easy to use platform|Good analytical tools
Cons: No crypto staking|Wait times can be long during peak hours
Several red flags with Iconic Trades: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I am in a dispute with Iconic Trades over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: High security standards|Easy withdrawals|Dividend tracking|Full transparency
Cons: Alert system is basic
I found Iconic Trades while looking for alternatives to my previous provider and the initial impression was positive. But since last summer later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Automated trading options|Multiple order types
Cons: Account statements could be more detailed