Terms and Definitions
Abnormal Market Conditions: refers to a "thin market" or "fast market."
Advisor is a trading account management algorithm created in the specialised MetaQuotes Language 4 software that sends calls and instructions to the server via the client interface.
Ask for the higher quote price, which is the price at which a client can buy.
Balance: the total financial result of all completed transactions and non-trading operations in the trading account.
Bar (Candle): a chart element that shows the opening and closing prices, as well as the minimum and maximum prices for a specific period (like one minute, five minutes, fifteen minutes, or thirty minutes).
Base Currency: the first currency in the currency pair designation; it’s what a client uses to buy or sell the quote currency.
Bid: the lower quote price, which is the price at which a client can sell.
Client: an individual or legal entity that has an agreement with the company to conduct trading transactions under marginal trading conditions, as well as an agreement with ICFXLForex.com for renting their terminal.
Real Account Client: an individual or legal entity that has opened an account with the company and funded it with the minimum deposit.
Chart: a graphical representation of quotations.
Client Terminal is the MetaTrader 4.0 software that gives clients real-time information about financial market auctions, allows for technical analyses, enables transactions, and lets clients receive messages from the company.
Client’s assets are the client's assets transferred to the company's operating account for display on the client's trading account.
Client's log file: a file generated by the client's terminal that tracks all requests and orders sent to the server by the client, accurate within one second.
Completed Full Transaction: consists of two opposite trade transactions of equal volumes (item opening and item closure): purchase followed by sale or sale followed by purchase.
Conflict Situation means:
When a client believes that the company has violated one or more clauses of these rules;
When the company believes that a client has violated one or more clauses of these rules.
Contract for Difference: a trading operation based on the price of the base asset (like shares, futures, commodities, precious metals, stock indices, etc.).
Copy Protection: a time period after transaction opening during which the transaction cannot be displayed on the website to protect traders from having their orders copied.
Currency Pair: an object of trading transactions based on changes in one currency against another.
Demonstrative Trading Account: an account allowing transactions without affecting the market and does not permit fund deposits or withdrawals (conversion into cash).
Developer: "MetaQuotes Software Corp.," the developer of the trading platform.
Equity: the current account status calculated by: balance + floating profit + floating loss.
Fast market: a market state characterised by rapid movements in currency rates over a short period; often results in price gaps.
Floating Profits/Losses: unrecorded profits/losses on open items at current rates.
Floating Stock Exchange Spread: information about current bid and ask transmitted by an indicative tool.
Foreign Currency Account: a trading account with a balance in USD or EUR.
Free Margin: funds available in the trading account for opening new items. Calculated by: equity minus margin.
Gap (price gap) occurs when either:
The bid of the current market quote is higher than the ask of the previous quote.
The Ask of the current market quote is lower than the Bid of the previous quote.
Hedged Margin: security required by the company for opening and maintaining locked items, specified for each tool.
History of Account: a list of completed transactions and non-trading operations in the trading account.
Internal Mail of Trading Platform: messaging incorporated into trading terminal MT that allows message delivery among clients and services.
Intersession Price Gap: the price gap between the close price of the preceding trading session and the opening price of the current session.
Investor Password: a secret word or character set used to verify identity and access trading platforms for viewing transactions only.
Leverage: a ratio between deposit amount and transaction amount: 1:1, 1:25, 1:50, 1:100, 1:200, etc. A leverage of 1:100 means that for executing a transaction, the dealer’s balance can be 100 times less than the transaction amount.
Locked Positions: short and long positions of equal volume opened for the same trading tool within one account.
Lot: an abstract designation for a set of shares, commodities, or currencies used on the trading platform.
Margin for Locked Positions: security required by the company to support locked items, specified for each trading tool.
Market Execution: providing clients with quotations without request while they view real-time streams and send instructions for transactions at any time.
Margin Level: ratio between equity and necessary margin expressed as a percentage. Calculated by: (equity/margin)*100%.
Margin Protection: a period before rollover time when withdrawals from PAMM accounts cannot be processed. Any withdrawals during this time are automatically moved to the next rollover.
Necessary Margin: monetary security needed by the company to maintain open items. Specified in relevant contract specifications for each instrument.
Opened Position: an amount of funds deposited into the market or a result from completing part of a transaction. This creates obligations for a client:
To close position;
To maintain margin level at or above the level specified in the relevant annex.
Opening Market: recommencement of trading after weekends, holidays, or breaks between sessions.
Order Level: price set in an order.
Order: a client’s instruction to open or close an item when it reaches that price level.
OTC (Over-the-Counter) refers to securities traded via a broker-dealer network rather than on a centralised exchange.
Password: a secret word or character set used to prove identity and access closed information resources of the company on their trading platform.
Point: the smallest possible change in price.
Quotes: information about a trading tool’s current rate expressed in bid and ask.
Quote Currency: a second currency quoted in a currency pair, which clients can buy or sell base currency for.
Quotation: submitting quotes to clients for transaction execution.
Rate:
For currency pairs: base currency unit price expressed in quote currency;
For CFDs: base asset unit price expressed in monetary value.
Server’s log file: a file created by the server tracking requests and instructions from clients along with processing results accurate within one second.
Short Position: selling a trading tool expecting its value to fall.
Size of Lot: amount of shares, stock, commodity, or base currency in one lot specified in relevant contract specification.
Spread: difference between ask and bid expressed in points.
Stop Out: server-generated instruction for compulsory item closure.
Stream of Quotations: sequence of quotes for every tool entering the trading platform.
Swap: fee for overnight carrying of a position in financial markets; can be positive or negative. Swap tables for each tool are available on our website.
Price Preceding Non-Market Quote: closing minute bar price just before a minute bar with a non-market quotation.
Thin Market: when quotes enter less frequently than normal market conditions over an extended period.
Tick Value: change in stock contract price per one tick.
Ticker: unique ID assigned to each open item or pending order on the trading platform.
Tick Price Gap: rapid price level change (splits second) clearly visible on tick charts due to global economic and political news releases.
Tool: either a currency pair or contract for difference.
Tools’ Specification: main trading conditions (spread, size of lot, minimal volume, initial margin, margin for locked positions, etc.) for each trading tool available on our website.
Trading Account: a unique personalised account in our internal system that records mutual obligations between clients and the company.
Trading Platform: software package providing real-time auction information at financial markets, enabling trading transactions while maintaining mutual obligations between clients and the company under specified conditions. In simpler terms, it consists of both a server and a client terminal for these rules' purposes.
Trading Period: period set when creating an account (PAMM). It's active trading time showing duration between rollovers (in days). No deposits or withdrawals occur during this period.
Trading Transaction: purchase or sale by a client of any trading tool.
Additions to the Public Offer
Addition 1 to the Public Offer
Addition 2 to the Public Offer
Addition 3 to the Public Offer (Deposit and Withdraw Policy)
Risk Warning
Consent to Do Business Electronically and Risk Disclosure Statement
Risk Disclosure Statement
This brief statement (even though it’s not required for OTC trading) doesn’t cover all the risks and important aspects of trading in leveraged investments. Given these risks, you should only proceed with such transactions if you understand the contracts (and contractual relationships) you’re entering into and how much risk you’re exposing yourself to. It’s a good idea to think carefully about whether trading is suitable for you based on your experience, goals, financial resources, and other circumstances.
1. Effect of ‘Leverage’
Transactions in OTC accounts come with a higher risk level. The initial margin amount is relatively small compared to the value of the OTC contract, meaning transactions are ‘leveraged’ or ‘geared’. A small market movement can greatly affect your deposited funds; this could work in your favour or against you. You might face a total loss of your initial margin funds and any additional funds deposited with us to keep your position. If the market turns against you or if margin levels increase, you may need to maintain your position by providing additional funds on short notice. If you don’t meet these requests in time, your position could be liquidated at a loss.
2. Risk-Reducing Orders or Strategies
Placing certain orders (like'stop-loss’ orders, where allowed) meant to limit losses may not always work, especially if market conditions prevent execution. Strategies that involve combinations of positions, such as'spread’ and'straddle’ positions, can carry risks similar to taking simple ‘long’ or'short’ positions.
3. Terms and Conditions of Contracts
Feel free to ask us about the specific terms and conditions of the currencies you’re trading and any obligations that come along with them (like when you might need to deliver or receive the full currency value).
4. Suspension or restriction of trading and pricing relationships
Market conditions (like illiquidity) or certain market rules (like suspending trade due to price limits or government actions) may increase your risk by making it tough or impossible to execute transactions or close out positions.
5. Deposited Cash and Property
It’s important to understand the protections around any cash or property you deposit for both domestic and foreign transactions, especially in case of our insolvency or bankruptcy. How much you can recover might depend on local laws or rules. In some areas, identifiable property will be treated similarly to cash if there's a shortfall.
6. Commission and Other Charges
Before you start trading, make sure you get a clear understanding of all commissions, fees, markups, markdowns, rollovers, swaps, interest rate differentials, and other charges that will apply to you. These fees can impact your net profit (if any) or increase your loss.
7. Transactions in Other Jurisdictions
Trading currencies from other countries might expose you to extra risks since those markets may have different regulations that could offer less investor protection. Before trading, please ask us about any relevant rules related to your transactions. Your local regulatory authority won’t be able to enforce rules from other jurisdictions where your trades take place, so feel free to ask us about available redress options.
8. Currency Risks
Profits and losses in foreign currency-denominated contracts (whether traded in your jurisdiction or elsewhere) will be influenced by fluctuations in currency rates that need converting from the contract's denomination to another currency.
9. Trading Facilities
OTC business isn’t traded on a regulated market, so there's no open-outcry trading. While many electronic systems offer quotes or prices, they may vary due to market liquidity. Be aware that many electronic trading facilities rely on computer-based systems for order-routing, execution, or matching trades; these systems can be prone to temporary disruptions or failures.
ICFXL provides trading in CFDs on shares, market indices, and futures; however, we don’t trade the underlying instruments themselves. Trading with us doesn’t entitle you to dividends or delivery rights associated with buying or selling the underlying instrument.
10. Electronic Trading
Electronic trading systems can differ from interbank market trading and other electronic systems. If you engage in electronic trading, you may face risks related to hardware and software failures, potentially leading to orders not being executed as intended or not at all.
Disclaimers
Internet and System Failures: Since we can’t control signal power or internet configuration, we won’t be responsible for any communication failures while trading online.
Market Risks and Online Trading: Trading currencies involves substantial risks and isn’t suitable for everyone.
Password Protection: Please keep your passwords confidential; you're liable for any trades made using your credentials.
Quoting Errors: If quoting errors occur due to a dealer's mistake or automatic price feed error, we won't be liable for resulting account balance errors.
Off-Exchange Transactions
In OTCFX, firms may carry out off-exchange transactions. The firm you deal with may act as your counterparty in these transactions, which can make it tricky to liquidate positions or assess value.
Risk Disclosure Statements and Consent to Do Business Electronically
Applying Electronically: When you apply to open a trading account with us, you agree to receive various documents electronically.
Electronic Communications: All communications regarding your account can be delivered electronically.
Executing Transactions Electronically: Transactions will be executed using electronic records and signatures.
Consent to Do Business Electronically: By choosing electronic business methods, make sure you have the necessary tech capabilities.
Withdrawal of Consent: You can withdraw your consent at any time; however, transactions conducted during that period remain valid.
Changes to Your Contact Information: Keep us updated on any changes to your contact details.
Printing of the Document: Feel free to print this document for your records.
Your Ability to Access Communications: By clicking “I agree,” you confirm your ability to access electronic communications.
Consenting to Electronic Communications: By clicking “I agree,” you consent to receiving all communications in electronic form.
Agreement to Execute Transactions Electronically: Clicking “I Agree” indicates your consent for executing agreements electronically.
Agreement with Trader
This is a legal contract between Icareforex ltd., known as ICFXL, and the party executing this document.
As you open an account with us for trading Contracts For Difference (CFDs), futures, indices, foreign exchange, or shares through the OTC market, we want to ensure you understand several factors related to leveraged OTC trading, alongside our provided Risk Disclosure Statement.
OTC Trading Risks: Remember that OTC isn’t traded on a regulated exchange; there are no guarantees regarding counterparty creditworthiness.
Suitability of Trading: OTC trading is intended for sophisticated institutions/participants who can handle potential losses equal to their margin deposits.
Market Recommendations: Our market recommendations are based on our judgement but may not guarantee results.
Account Management: You’ll need to authorise any trading activity; we won’t manage accounts without proper documentation.
Margin Policies: Additional funds may be needed for proper margining; insufficient funds could lead to liquidation of positions.
Report Review: Please review all trading reports carefully; objections must be made within specified time frames.
Trader Responsibilities: By signing this agreement, you accept full responsibility for decisions related to your account.
1. Customer Maintenance Rules
1.1 Communication between Client and Company
Communication Methods: The company uses the following methods to communicate with the customer:
Internal mail of trading platform
E-mail
Telephone
Post
The company uses the payment details provided by the customer during account setup or as updated.
Acceptance of Correspondence: Correspondence is accepted by the customer.
One hour after sending via email
Immediately after sending via internal mail
Immediately after a telephone conversation
Seven calendar days after posting
Immediately upon publication on the company's website
Instructions Compliance: The company acts according to the customer’s instructions given directly or through an authorised representative.
Phone Recordings: Phone conversations may be recorded and are considered the company’s property as proof of instructions given by the customer.
1.2 Customer's Instructions and Requests
Trading Operations: All trading operations are executed on a “market execution” basis.
Request Rejections: Customer requests can be declined in these situations:
Request made before market opening
Under abnormal market conditions
Insufficient free margin for opening a position
Instruction Methods: The primary way for customers to give instructions is the client terminal. Instructions may also be given by phone if the client terminal is unavailable due to technical issues, following “Phone Talk Regulations.”
1.3 Trading Transactions
Position Opening Prices:
Purchase positions open at Ask Price.
Sale positions open at bid price.
Position Closing Prices:
Purchase positions close at bid price.
Sale positions close at Ask price.
Position Transfer:
Swaps are charged for opened positions between 23:59:00 and 00:01:00 on the trading platform.
Spread Management:
The company maintains specified spreads unless in force majeure situations.
Spreads may increase during force majeure without prior notice.
1.4 Position Opening
Opening Instructions: Required details for opening a position include:
Instrument name
Trading volume
Market Execution Process: To open a position via the client terminal without an adviser, the customer clicks "Buy" or "Sell" when prices are favourable.
Instruction Processing: Upon receiving an instruction to open a position, the server checks account status for free margin.
Conditions for Opening: If all conditions are met, the position will be opened at a possibly different price than requested.
Rejection of Pre-Market Instructions: Instructions received before market opening will be rejected with appropriate messages.
1.5 Position Closure
Closing via Client Terminal: Customers can close positions by clicking "Close" when prices are satisfactory.
Order Types for Closure:
"Stop Loss" and/or "Take Profit" can be used post-execution of related orders.
Processing Closure Instructions: If there are locked positions, specific options enable partial or full closures.
Rejection of Pre-Market Closure Instructions: Closure instructions received before market opening will be rejected.
Order Conflict Handling: The company may reject closure requests if they conflict with existing orders in execution.
1.6 Compulsory Position Closure
Margin Level Monitoring: If the margin level is at or below 50%, the company may close positions without notice.
Closing Process: Positions are closed based on current market prices, starting with the largest losses.
Negative Balance Management: Customers with negative balances after compulsory closures will have compensation credited to their trading accounts.
Futures Contract Expiration: All positions and orders will be closed at market prices on contract expiration dates.
2. Orders
2.1 Types of Orders
Opening Orders:
"Buy Stop": Opens a purchase position above current price.
"Sell Stop": Opens a sale position below current price.
"Buy Limit": Opens a purchase position below current price.
"Sell Limit": Opens a sale position above current price.
Closing Orders:
"Stop Loss": Closes positions at less favourable prices.
"Take Profit": Closes positions at more favourable prices.
2.2 Order Timing and Validity
Order Placement: Orders can be placed only when trading is allowed for a specific instrument.
GTC Status: All postponed orders have “Good Till Cancelled” status unless otherwise specified.
2.3 Order Placement Rules
Required Details for Orders:
Instrument name
Volume
Order type (e.g., Buy Stop)
Order level
Optional Features:
Stop Loss and Take Profit levels can be specified or set to 0.0000 to indicate removal.
Order Rejection Criteria: The company may decline orders due to missing required details or incorrect parameters.
Stop Loss/Take Profit Specification: Specific parameters must be provided for Stop Loss and Take Profit orders.
Positioning Requirements: Stop Loss and Take Profit levels must comply with market pricing constraints.
Minimum Distance Rules: Orders cannot be placed closer than a specified number of points to current prices.
Order Placement Confirmation: A server log entry confirms that an order has been processed.
Pre-Market Order Rejection: Requests received before market opening will be rejected with appropriate messages.
Order Execution Conditions: If conditions are violated during processing, the company may refuse order placement.
2.4 Order Modification and Removal
Modification Instructions: Modifying order elements requires specifying ticket details and new levels.
Removal Instructions: Customers must specify tickets when removing orders.
Processing Notices: Confirmation appears in the server log once modifications or removals are processed.
Rejection of Pre-Market Modifications/Removals: Modifications or removals received before market opening will be rejected.
Price Reaching Order Levels: If current prices reach order levels during processing, modifications/removals may be declined.
Queue Execution Priority: Orders in execution take priority over modifications until a new tick occurs.
2.5 Order Execution
Execution Queue Conditions: Orders will be queued for execution under certain conditions relating to bid or ask prices.
Free Margin Check during Execution: The server checks for sufficient free margin before executing orders from the queue.
Execution Confirmation: A relevant log entry confirms that an order has been executed.
Market conditions for execution: Orders are executed at market prices under normal conditions.
Non-Normal Market Executions: In abnormal conditions, orders may execute at first available prices following gaps.
Execution Order Priority: Multiple orders falling within price gaps are executed based on their queue order.
3. Margin
3.1 General Conditions
Initial Margin Responsibility: Customers are responsible for maintaining required initial and hedged margins as specified by the company.
Margin Payment Timing: Margins are paid when opening positions, with amounts detailed in instrument specifications.
Spec Updates: The company updates specifications if margin requirements change.
Force Majeure Margin Changes: The company reserves the right to change margin sizes during force majeure events without notice.
Monitoring Margin Levels: Customers must monitor their account's margin levels actively.
Position Closures due to Low Equity: Positions may be closed if equity falls below 10% of the hedged margin without prior notice.
4. Risks
Customers acknowledge awareness of risks associated with financial market transactions:
4.1 Credit Leverage Risks
Small price movements can significantly affect account status due to leverage.
It is recommended to maintain a margin level above 100% and use Stop Losses to mitigate losses.
4.2 Financial Instrument Volatility Risks
Instruments may exhibit significant intraday price movements, impacting both profits and losses.
4.3 Technical Risks
Customers assume responsibility for losses from failures related to their devices, software, or connection issues.
4.4 Abnormal Market Conditions
Processing times may increase, and execution prices may differ from expected rates during abnormal conditions.
4.5 Trading Platform Technical Risks
Only one instruction can be queued at a time; attempts to send multiple instructions will fail.
4.6 Communication System Failure Risks
Customers bear risks related to undelivered messages or unauthorised access to communications.
4.7 Force-Majeure Risks
All risks associated with force-majeure circumstances are acknowledged by the customer.
5. Conflict Resolution
5.1 Claim Submission Procedure
Customers must submit claims within two business days after a conflict arises
Claims must be emailed to designated addresses on the company's website.
Claims should include specific details such as name, username, conflict date/time, ticket number, and description.
Emotional language or personal attacks will lead to claim rejection.
Claims must meet submission criteria to be considered valid; conflicts raised publicly will not be reviewed without prior internal consideration.
5.2 Evidence Sources for Claims
Server log files are prioritised as evidence for conflicts; a lack of relevant entries may invalidate claims.
5.3 Indemnification for Valid Claims
Established claims result in compensation credited to the customer's account; no compensation is provided for unrealised profits or moral damages.
5.4 Claim Examination Limits
Claims regarding order execution cannot be made post-execution; references to other companies' quotes are inadmissible.
5.5 Conflict Situations Management
The company maintains rights to adjust trades recognised as erroneous based on actual market quotes and conditions during conflicts.
5.6 Non-Market Quote Executions
The company reserves rights regarding order executions at non-market quotes, including potential cancellations or adjustments of financial results based on conflicts recognised as valid.
5.7 Force-Majeure Circumstances Definition
Force majeure includes various unpredictable events that may disrupt market stability, with no liability assigned to the company or third-party service providers under such circumstances.
Information We Collect
ICFXL. may collect your personal information through various methods, including account applications, newsletters, seminars, or phone calls. We only collect information directly from you.
Typically, ICFXL Forex collects the following details:
Name, address, telephone number
Email address
Financial information
Investment experience
Other relevant information
We collect personal information that is necessary to:
Provide quality products or services.
Consider your applications and enquiries.
Maintain your contact details.
We hold personal information related to:
The products and services we provide or have provided to you
Your financial interests and sometimes your financial position
Your contact details
How That Information is Used
We use the information for the purposes it was collected without needing your permission, unless otherwise specified. For instance, we may use your personal information to inform you about investment opportunities or provide information on products and services we think may interest you. You can request us not to do this.
We do not sell personal information to other organisations or share it with third parties, except to service providers related to our products and services or to your nominated financial adviser with your permission.
Keeping Information Accurate and Up to Date
We strive to keep your personal information accurate and current. Since this information can change frequently, we may ask you to update or confirm it. Please help us maintain accurate records by contacting us if you believe any information is incorrect or incomplete.
Keeping Information Secure
We take measures to protect the information we hold by:
Storing personal information in secure facilities and on secure servers
Using encrypted transmission links whenever possible
Implementing safeguards such as firewalls, authentication systems (e.g., passwords), and access controls to prevent unauthorised access
Regularly reviewing our practices for collecting, storing, and processing information, including physical security measures
Limiting access to personal information to employees, contractors, and agents who need it for processing and who are bound by strict confidentiality obligations. Breaches of these obligations can result in disciplinary action or contract termination.
This policy applies to visitors to our website, former clients, current clients, applicants, and service recipients. It does not cover third-party websites linked from our site, which have their own privacy policies that we recommend you read.
Regulatory Disclosure
Under certain circumstances, ICFXL Forex may disclose your personal information to third parties as allowed by law. This includes cooperation with regulatory authorities and law enforcement agencies in response to subpoenas or official requests, as well as protecting our rights or property. Unless described in this privacy policy, we will not use your personal information for other purposes without informing you at the time of disclosure or obtaining your permission.
How You Can Access Your Information
You can request access to your information. We will provide full access after a verification process, though we may deny access for legal or administrative reasons. If access is denied, we will explain why.
Our Cookie Policy
As you browse our website, www.icareforex.com, cookies will be placed on your computer for advertising and campaign tracking purposes to better understand your interests. Our display advertising partners, such as Adwords and Adroll, may present retargeting ads based on your previous interactions with www.icareforex.com. These techniques do not collect personal information like your name or contact details.
www.icareforex.com also uses cookies for its partnership program through referral links.
Foreign exchange trading involves significant risk. The low margins in currency trading mean that fluctuations in the foreign exchange market can lead to substantial losses.
Customers may lose all their initial investments, as well as any additional funds used to manage their market positions.
As a result, currency trading is only suitable for individuals who understand and accept the economic, legal, and other risks involved and who can handle potential financial losses.
The risk of loss in forex trading can be quite high. Clients should thoroughly assess their financial capacity for engaging in such trading.
Clients must recognise that the company does not account for all risks, oversee the use of financial resources, or dictate trading strategies.
Clients accept the risk of sudden price changes on CFDs, which can arise from corporate actions like dividends. Open positions affected by these changes must be closed at the last price from the previous trading session. When the next trading session begins, an equivalent position will open at the first available price.
The company is also not liable for any losses caused directly or indirectly by government restrictions, foreign exchange or market regulations, trading suspensions, wars, or other uncontrollable events often referred to as "force majeure."
When trading on an electronic system, clients face risks related to system issues, including software problems and communication failures, as well as risks from unauthorised access to their trading accounts via client passwords.
Clients should carefully evaluate whether trading aligns with their experience, goals, financial situation, and other factors.
Entering agreements to buy or sell currencies requires understanding potential losses and the nature of rights and obligations involved.
This disclosure outlines some risk factors related to Forex trading but is not exhaustive. It is not intended to discourage trading but rather to assist in making informed strategic choices.
Know Your Customer Policy
The Know Your Customer (KYC) Policy is crucial globally, especially for financial institutions and banks. Its main goal is to prevent identity theft, money laundering, and financial fraud. At iCareForex, customer safety is our priority, and we implement all necessary measures to combat fraud. We adhere to all safety standards and regulations. Any fraudulent activity will be recorded, and associated accounts will be closed, resulting in the loss of all funds on those accounts. KYC verification is not required for opening demo and contest accounts, but it is mandatory for real accounts, partnerships, and making deposits and withdrawals. Clients registering for real trading accounts must be at least 18 years old.
Requirements and recommendations
icareforex strives to keep client data complete, such as account information and transaction history. For security purposes, please provide the following documents:
Identification Document (ID): This can be a passport, international ID, or driver's license.
Proof of Address: Acceptable documents include a utility bill, internet bill, bank statement, etc. The document must show your name, surname, and residential address and should be issued within the last three months.
icareforex may request additional verification data to confirm your identity or address.
For any questions, contact support@icareforexmail.com.
Document Submission Timing
We appreciate prompt submission of the required documents to avoid delays in processing your requests and to fully utilize icareforex's features. We require these documents before processing any deposit or withdrawal transactions for added security.
In some cases, we may request card copies (with personal data covered) if you intend to make payments using the card or as part of our anti-fraud measures. If we do not receive the necessary documents, your pending withdrawal requests will be cancelled, and the funds will return to your Money Box. You will be notified via request rejection in our system or through email.
Document Submission Process
You can provide these documents by logging into your personal account at my.icareforex.com. In the “Personal Information” section, find the “Account Verification” option on the main page. A pop-up window will appear during registration for document upload. Scan or take high-resolution photos of your documents, ensuring they meet the requirements mentioned here before uploading. The Compliance Department will process your verification within 12 business hours.
Document Security
icareforex prioritizes document security and privacy. All files received through your personal area are protected with high-level encryption during the verification process. Do not send documents via email due to potential security risks.
icareforex does not share your personal information with third parties.
Thank you for helping us maintain a safe trading platform at icareforex. Please read our privacy policy.