FFS — Australia
TP ICAP Group plc
Licence
ICAP Review — Overview
Regulation
Tier-1 regulated
Licence
FFS • FCA
Licence status
Active
Platforms
Fusion, iSwap
Instruments
Forex and CFDs
Operating
Est. 1999
Main market
US
Entity
TP ICAP Group plc
Website
Unknown
ICAP is a forex & CFD broker based in Australia, established in 1999. On Trust Broker Hub it holds a Trust Score of 5.4 out of 10, which we rate as Fair — above the industry average of 3.3/10. Mixed profile — check regulation and conditions before depositing.
Crucially, ICAP is regulated by FFS and FCA, including at least one tier-1 regulator. Tier-1 regulation is the strongest sign of legitimacy: it normally requires segregated client funds, regular audits and access to a compensation scheme if the broker fails — meaningful protection for your money.
ICAP provides access to forex and CFDs. Its detailed trading conditions — minimum deposit, spreads and maximum leverage — are not publicly disclosed, which lowers transparency. No complaints are currently on record. Overall, ICAP has a mixed profile: check its regulation and conditions carefully before depositing.
Trust score breakdown
How is this calculated?Trust Score history
ICAP currently scores 5.4/10. The trend line will build here as the Trust Score is re-evaluated over time.
Pros
- Regulated by a tier-1 authority
- No unresolved complaints on record
- Listed in our verified broker directory
Cons
- Trading conditions and fees not publicly disclosed
- Always verify the licence directly before depositing
Regulation
Tier 3 · Offshore
Verified
FCA — United Kingdom
TP ICAP Group plc
Licence
Tier 1 · Top
Verified
Offshore (tier-3) regulators typically have lower capital requirements and no compensation scheme. Funds may not be protected if the broker fails.
Trading conditions
| Instruments | Not disclosed |
| Minimum deposit | Not disclosed |
| Maximum leverage | Not disclosed |
| Typical spread | Not disclosed |
| Platforms | Fusion, iSwap |
| Demo account | Not disclosed |
We mark unverified fields as “Not disclosed” rather than estimate them.
Our verdict on ICAP
Our analysis · editorial
5.4/10
A mixed risk profile
ICAP holds a tier-1 regulatory licence among its 2 registrations (FFS, FCA). Based in Australia, it has been operating for about 27 years. We have no complaints on record against it. Weighing regulation, track record and complaint history, our Trust Score is 5.4/10 — a mixed profile.
Strengths
- Authorised by a tier-1 regulator (FFS, FCA)
- Holds 2 regulatory licences across multiple jurisdictions
- Long 27-year operating track record
- No complaints on record with us
- Supports Fusion & iSwap trading
Watch-outs
- Always confirm the licensed entity covers traders in your country
Bottom line: Proceed with caution: start with a small deposit and test a withdrawal early.
This is Trust Broker Hub's data-driven editorial assessment — not a user review. It is generated automatically from regulation, licensing, company age and complaint records, and updates as those change.
User reviews
5 0
4 0
3 0
2 0
1 0
ICAP — Questions & Answers
Log in to ask a question about ICAP.
No questions yet about ICAP. Be the first to ask — answers from the community and our team help every trader.
Complaints & alerts
No complaints or regulator warnings on record
We monitor regulator alert lists and user reports. We'll flag ICAP here if that changes.
Full specifications
Regulated region
Australia
Operating period
5-10 years
Main market
US
Year founded
1999
Frequently asked
Is ICAP a safe broker?
ICAP scores 5.4 / 10 on our Trust Score, above the 3.3 industry average. It holds tier-1 regulation, which offers strong investor protection. It has no complaints on record. Trade only with funds you can afford to lose.
How is the ICAP trust score calculated?
The score weighs five factors: regulation tier, transparency of disclosures, operating footprint, user sentiment, and complaint history. Each is scored out of 10 and combined into the overall figure shown at the top. Read our methodology.
What does "offshore regulated" mean?
It means the broker's licence comes from a jurisdiction with lighter requirements than tier-1 regulators like the FCA or ASIC. There's usually no compensation scheme, so recovering funds can be difficult if the broker fails.
Can I withdraw funds easily from ICAP?
ICAP doesn't publish detailed withdrawal terms, so we can't verify processing times or fees. Test with a small amount first and document every transaction.