Is IC Finance a scam or legit broker?

No, it is not safe to trade with IC Finance. IC Finance is owned by IC Finance Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, to pay a fee, and within a 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as Circle Markets, 70Trades and more.

As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

According to the website, IC Finance is an international Forex broker, that provides high-quality financial and investment services to customers all around the world. The company doesn’t disclose its address or contact numbers.

We have heard brokers from Vanuatu deny traders withdrawing funds. We have feedbacks from traders about their negative experience with IC Finance. You can read the feedback here.

We advise all investors and traders to avoid IC Finance and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as eToro and XM.com.

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