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iCare Forex
Operating status: SCAM
Website: https://www.icareforex.com/
Broker violations and abnormal records
iCare Forex does not provide verifiable regulatory information. It claims to be registered in Comoros and lists a physical address in India.
Upon checking the official licensee lists of the two main financial authorities in Comoros, MISA and AOFA, we found that the entity iCare Forex Limited holds only an AOFA license. Notably, no official website or domain is registered under this license. It is critical to emphasize that the AOFA is an offshore regulator known for weak oversight and minimal compliance requirements. Its licenses are not widely recognized internationally and are often considered low in credibility, which significantly increases the risk of deceptive or unregulated operations.
While iCare Forex mentions an operational presence in India, it is important to note that India currently does not have a regulatory body overseeing retail forex trading. A search in the database of the Securities and Exchange Board of India (SEBI) also shows no registration for iCare Forex Limited.
Therefore, iCare Forex is unregulated and appears to be a scam.
iCare Forex does not provide verifiable regulatory information. It claims to be registered in Comoros and lists a physical address in India. Upon checking the official licensee lists of the two main financial authorities in Comoros, MISA and AOFA, we found that the entity iCare Forex Limited holds only an AOFA license. Notably, no official website or domain is registered under this license. It is critical to emphasize that the AOFA is an offshore regulator known for weak oversight and minimal compliance requirements. Its licenses are not widely recognized internationally and are often considered low in credibility, which significantly increases the risk of deceptive or unregulated operations. While iCare Forex mentions an operational presence in India, it is important to note that India currently does not have a regulatory body overseeing retail forex trading. A search in the database of the Securities and Exchange Board of India (SEBI) also shows no registration for iCare Forex Limited. Therefore, iCare Forex is unregulated and appears to be a scam.
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