ICA Trading Review: Is ICA Investment Capital Advisors LLC Legit?
We’re reviewing an interesting Forex managed trading account operation called ICA Trading. ICA Trading’s website (Investment Capital Advisors LLC) can be found at icatrading.com and they are requesting at least $10,000 from investors who want to join the service. This is a big deposit requirement and even if you have this amount to invest, you can’t just fund an account with these guys if you don’t know how they trade.
You should instead try this Crypto Wealth management platform because not only is the minimum investment affordable (0.1 BTC – quite low enough for most investors), but they have been around for some time and their advertised returns can be backed by verified trading performance. So you have no need to worry, just go invest.
Upon reviewing and analyzing the site (ICAtrading.com) carefully, I discovered a few interesting things which are worth mentioning in this review. The question most of you are asking now is whether ICA Trading is legit or scam?
We cannot conclude that ICA Investment Capital Advisors LLC is a scam right away. However, we can say that there is always the risk of losing part of your funds if the traders who run the town are not very good at it.
ICA Investment Capital Advisors LLC does not introduce any of their traders or market analysts. That section of the website does exist but it doesn’t list down any of the team members. In this case, it becomes difficult for us to know the kind of people who are behind this trading operation and their experience too.
This is a very common trend that exit scams in the financial industry follow. Anonymity is never a good thing when people are targeting other people with funds which they claim they can help those people invest. We need transparency more than anything else.
ICA Trading has provided several means to contact their representatives which is through phone numbers and email contact. For those who want to contact them, phone numbers suggesting that ICA Trading is based in Zurich have been provided but the question is that if these guys aren’t willing to disclose information about themselves, how much more do you think they’ll be interested in telling the community where the business is located?
Note: If you like the idea of auto-trading the Forex market, these expert advisors/trading solutions should be the answer to your problem.
ICA Trading review (Investment Capital Advisors LLC)
I must confess that I like the overall look and feel of the website. At first, I thought it was a blog but upon looking closely, I realized that they were using a corporate approach on their site where they focus more on what they provide than writing educational posts about trading like we do here.
They’ve provided documents highlighting how ICA Investment Capital Advisors LLC conducts its trading operation.
They’ve also listed down some of the brokers they work with which include Oanda (US), Swiss Quote Bank (Switzerland), ATC Brokers (UK), Prime Brokerage (FCM) and a couple more.
Performance fees are paid on a monthly basis and the amount one pays depends on how much they are willing to deposit. The more they deposit, the less they are charged. Generally, one expects to part with between 20%-35% of the investors’ profit.
Their performance fact sheet is allegedly audited by Delta Group Accounting and auditing firm. This fact sheet contains figures which highlight performance of their Forex managed accounts over the course of the years starting 2007.
It is quite easy to establish whether the company has been in business since 2007 because those records can be readily found on the internet (assuming the company has never concealed their who.is information).
Trading strategy of ICA Trading
They tell the community that the company doesn’t trade using Martingale style of trading. They don’t hedge or scalp but usually targets up to 400 pips in the 4 hour and 24h time frames.
It should be noted that the higher the time frame you are trading, the more reliable the signals. Invest in this Forex trading course if you want to learn why those who trade higher time frames tend to get better results than those who trade 1h or lower time frames. Thank me later.
In terms of strategy, they claim that their trading style involves a sophisticated combo of risk management model, Trade management model and high probability mechanical system.
Portfolio safety and customization is also guaranteed, although this kind of thing is not so popular in Forex trading. You’ll find it with index funds and not in Forex trading.
Looking at the description of how ICA Trading perform its trading, you’ll need to be an expert trader to understand the terminology or ask the right question. So I think many newbies are falling for this kind of thing quite frequently.
At some point. ICA Trading decided to register an account at FPA trading forum and they shared their live account performance with the moderators.
Although this is a good move, this managed account real test was abandoned and password changed without informing moderators in this forum. To me this is a red flag.
There is only one customer review as well. I don’t know how this makes sense when I imagine that they are claiming to have been around for more than a decade.
On one hand they sound professional but on the other, something tells me that ICA Trading should not be trusted 100% of the time if you are a first time investor. The minimum deposit is quite high. You should be looking for a managed account provider with a low minimum entry. Also, if they have performance record dating back to 2007, I believe they should be much popular than they seem to be.
All in all, I have laid a platform now for you to air your opinion. If you’ve used this service, please comment below. Thanks for reading the Investment Capital Advisors LLC review.