This ICC Intercertus Capital Ltd review evaluates the broker’s regulatory background, operational structure, and client services. Intercertus Capital Ltd was the entity behind the brand EverFX, which came under regulatory scrutiny and was eventually banned from several jurisdictions, notably the UK, due to misleading practices.

Regulation and Safety

Intercertus Capital Ltd was previously regulated in Cyprus:

• CySEC: License No. 301/16 (withdrawn)
• FCA (UK): Banned the firm in 2021 from offering CFD products to UK clients

Due to regulatory action and poor compliance standards, the CySEC license was renounced, and EverFX was blacklisted by the UK’s Financial Conduct Authority for targeting vulnerable clients via unauthorised affiliates.

Execution Model and Trading Platforms

While active, Intercertus Capital offered market-maker execution with limited transparency:

• Platform: MetaTrader 4 (MT4)
• Execution: Dealing Desk / B-book model

No FIX API, no ECN connectivity, and no VPS support were provided. Execution practices were criticised by regulators.

Markets and Instruments

The firm offered CFDs on a range of asset classes:

• Forex: Major and minor pairs
• Indices: Global stock indices
• Commodities: Gold, oil, and metals
• Stocks: Popular global equities
• Cryptocurrencies: BTC, ETH (CFDs)

Leverage was often excessive and not aligned with ESMA or FCA guidelines.

Accounts, Spreads and Leverage

Accounts were tiered and used aggressive marketing tactics:

• Spreads: From 2.0 pips (non-ECN)
• Leverage: Up to 1:500 for offshore clients
• Minimum deposit: $250
• Commissions: Spread-based, no raw pricing

Account managers reportedly engaged in high-pressure sales tactics to encourage larger deposits.

Funding and Base Currencies

Intercertus Capital Ltd accepted multiple funding channels:

• Visa / Mastercard
• Bank wire transfer
• eWallets (Skrill, Neteller)

Base currencies included USD, EUR, and GBP. Withdrawal requests were subject to scrutiny, and many complaints were logged about delays and rejections.

Client Protections and Features

• Formerly offered fund segregation under CySEC
• ICF compensation scheme (no longer applicable)
• No negative balance protection for high leverage accounts
• No longer compliant with EU standards

Institutional and Retail Offering

Only retail services were provided. The firm did not cater to institutional clients:

• No white-label, liquidity, or API services
• No asset management or advisory business

Pros and Cons

Pros

• Previously regulated by CySEC
• MetaTrader 4 platform support
• Multiple asset classes available

Cons

• License withdrawn; no longer regulated
• FCA ban due to misconduct
• High-pressure sales tactics and misleading promotions
• Negative user reviews on fund withdrawals
• Not suitable for professional or institutional traders

Frequently Asked Questions

Is Intercertus Capital Ltd regulated?

No. The firm voluntarily renounced its CySEC license and has been banned by the UK’s FCA.

What brand did Intercertus Capital operate under?

It operated as EverFX, offering CFDs to global clients.

Is EverFX still operating?

No. The broker is effectively defunct after regulatory action and loss of license.

What platform was used by Intercertus Capital?

The firm used MetaTrader 4 (MT4) but did not provide ECN or advanced execution tools.

Is it safe to use any broker under this name today?

No. Any firm using the Intercertus Capital or EverFX name today should be approached with extreme caution.