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Is iCare Forex safe enough?
Melek Cokia
Estonia
Apr 21, 2026
ANSWER Dear Investor, According to our previous investigation, iCare Forex claims to be regulated and licensed by the Anjouan Offshore Finance Authority (AOFA). However, AOFA is widely recognized as a lax regulatory body with minimal supervision and weak investor protection measures. Consequently, holding a license from this authority does not provide investors with solid safeguards or financial security. Furthermore, while we located a company named iCare Forex Limited within the AOFA system, the absence of a registered domain name in the official records prevents us from definitively confirming the link between this license and the trading platform. Due to this lack of verifiable transparency and the weak regulatory framework, we continue to classify this platform as high-risk and potentially fraudulent. We strongly advise you to avoid trading with this entity to protect your funds.
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i Care Forex fraud or not?
shootgun
Maldives
Oct 23, 2025
ANSWER Dear Investor, iCare Forex exhibits multiple red flags commonly associated with potential fraud. The company does not provide clear or verifiable regulatory information. It claims to be registered in Comoros and lists a physical address in India. First, we checked the official licensee lists of the two main financial authorities in Comoros, the MWALI International Services Authority (MISA) and the Anjouan Offshore Finance Authority (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 operations. Second, 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. Given the lack of credible regulation, the platform cannot be considered reliable or secure. We therefore strongly recommend that you avoid engaging with iCare Forex and refrain from depositing any funds.
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Risk Warning

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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