Iconic Management

Iconic Management claims to be an international broker that offers multi-asset trading with superior trading conditions and is registered with and regulated by the Companies House of the United Kingdom (CH) with registration number 14285760 and the Financial Crimes Enforcement Network (FinCEN) under MSB Registration Number: 31000223110969. We indeed found match results to this broker in CH and FinCEN, but none of the two authorities is a forex regulator and has no legal rights to regulate entities engaging in forex services. As per relevant national law, this broker should be authorized and regulated by the UK Financial Conduct Authority (FCA) and the National Futures Association (NFA) for being unable to offer financial services in the UK and the US. However, we did not find any match results for this broker in FCA. As for the regulation in NFA, we indeed found a matching result in NFA’s registry, however, Iconic Managementd is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a “retail forex exchange dealer.” Obviously, Iconic Managementd doesn’t satisfy these conditions. The truth is, Iconic Management is not under valid regulation by any regulators to do forex. Investors’ funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.