ICAP Clone Sites: Forex and Crypto Scam Misusing the Name

ICAP is a long-established brand of the London-based TP ICAP group that brokers between banks in institutional markets, and it does not open forex or crypto accounts for individual investors. This reputation has become an attractive shield for those who want to collect money from individual users through clone sites carrying the brand's name.

🎭 Clone Sites Using the ICAP Name

The FCA has issued separate warnings for schemes imitating authorised ICAP companies:

Although these domains no longer respond, it is common in such schemes for new sites to open under the same name. When payment is requested to a crypto wallet, the transfer of the money to a crypto exchangeTR makes the trail harder to follow.

🏛️ The Difference From the Real ICAP

The real ICAP companies are authorised by the FCA, but this foreign licence is not valid for providing investment services in Türkiye, and the group has no retail customer service. TP ICAP has also publicly stated that it has no connection with the fake sites. No site carrying the ICAP name appears on the SPK list of authorised institutions; SPK Decision No. 8/297 treats this kind of referral as unauthorised activity.

🔗 Other Sites That Impersonate Institutions

We have also examined other examples of the brokerage and bank clone site scheme:

🧭 The Process for Victims

1. An asset searchTR is carried out through the accounts and wallets the money went to.
2. Imitation of a real institution's name is handled under the provisions on qualified fraudTR.
3. For transfers sent abroad, refund routes are assessed.

For detailed information and legal support, you can contact Savun Law & Consultancy.

❓ Frequently Asked Questions