ICTrades is an online Forex broker. It is a trading name of Pro Star Griffith Corporate, registered in Saint Vincent and the Grenadines.
Before The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers Morgan Trust and ICTrades. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, Morgan Trust and ICTrades are not entitled to carry out banking transactions in Austria that require a licence.
The Austrian Financial Market Authority (FMA) is an independent, autonomous and integrated authority for the Austrian financial market. The Austrian FMA is responsible for: contributing to the stability of Austria as a financial market; reinforcing confidence in the ability of the Austrian financial market to function; protecting investors, creditors and consumers.
Is ICTrades regulated ?
ICTrades Besides its offshore location, which is already a red flag, Pro Star Griffith Corporate itself has a quite bad reputation. We have reviewed some brokers operated by Pro Star Griffith Corporate (including Traderia, Finroyalty and GoldenCFD) and we do not recommend dealing with either of them.
The platform has no effective regulation.
In addition, Italy’s CONSOB and Belgium’s FSMA have put this platform on the warning list, please be careful!
The accompanying drawings are as follows:
As safety in trading always goes first, it is highly recommended to invest only with reputable brokers that gained a reliable reputation, operate with necessary and reputable licenses, and comply with the strictest authority rules.