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If you are looking for a reliable and trustworthy online broker, you might have come across Iconic Capital. This company claims to offer a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But are they legit? Or are they a scam that you should avoid at all costs?
In this review, we will examine the features, pros, and cons of Iconic Capital, and help you decide whether they are worth your time and money.
What is Iconic Capital?
Iconic Capital is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. They claim to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but there is no evidence to verify this claim. The FSA is not a reputable regulator and does not provide much protection to investors.
Iconic Capital offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the maximum leverage is 1:200. The spreads are variable and start from 2.8 pips for the EUR/USD pair. The other accounts have higher minimum deposits, lower spreads, and more features, such as personal account managers, trading signals, webinars, and bonuses.
Iconic Capital provides a web-based trading platform that is compatible with any device and browser. The platform has a simple and user-friendly interface, but it lacks some advanced tools and indicators that are available on other platforms, such as MetaTrader 4 or 5. The platform also does not support automated trading or social trading.
Iconic Capital claims to offer over 200 trading instruments, including forex pairs, stocks, commodities, indices, and cryptocurrencies. However, some of these instruments are not available on the platform or have very low liquidity. The broker also charges high fees and commissions for some trades, such as overnight swaps and withdrawal fees.
Pros and Cons of Iconic Capital
- Wide range of trading instruments
- User-friendly web-based platform
- Multiple account types
- Customer support via phone, email, and live chat
- Unregulated and unlicensed broker
- High spreads and fees
- No MetaTrader platform
- No automated or social trading
- Limited payment methods
- Negative customer reviews
Iconic Capital is an online broker that offers a variety of trading instruments, but it also has many drawbacks that make it a risky choice for investors. The broker is not regulated by any reputable authority and does not provide much security or transparency to its clients. The broker also has high spreads and fees that can eat into your profits. The platform is easy to use but lacks some essential features and tools that are available on other platforms. The broker also has limited payment methods and negative customer reviews.
We do not recommend Iconic Capital as a reliable or trustworthy broker. There are many other brokers that are regulated, licensed, and offer better services and conditions to their clients. If you are looking for a reputable online broker, you should do your own research and compare different options before making a decision.
What to Do If You’ve Lost Money with Iconic Capital?
If you have been scammed by Iconic Capita or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.