Global Broker Regulation Inquiry App
WikiFX
Jezreel2 
1-2 years
What are the advantages and disadvantages of using ICAP?
Broker Issues
Regulation
2025-08-04
United States
WikiFX
Reply
ICAP is regulated by FFS, which ensures some level of oversight. The broker offers a broad range of services, including FX, energy, and commodities markets, which could appeal to institutional traders. However, the key disadvantage is its unverified FCA license, which raises serious concerns. In my view, brokers with unverified regulatory statuses increase the risks for traders, especially when there’s no clear guarantee of investor protection. Additionally, ICAP does not offer popular retail platforms like MT4 or MT5, which may limit flexibility for some traders. I would approach ICAP with caution due to these factors.
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