To use chat, please login.
Back to contacts

IC Markets

Surrealistik
Oct 17 2013 at 05:58
227 posts
Good observations Steve, thanks for collating all that data and research; I very much look forward to your slippage report.


With regards to the cost of trading at ICM, it can be further reduced by a discount of $1.55 USD or equivalent / RTL over the standard $1.50 USD / RTL per my signature. I definitely invite you to take advantage of this for your test accounts.


As a client of ICM I can tell you first hand that the platform freezes when they were an issue were due to overcapacity; the broker's client base grew too large, too quickly, and the servers were getting overwhelmed. Since new servers came online and were fully rolled out, I have noticed that the freezes that were previously complained about are no more.

So far as the support issues go, nothing especially notable has come up for me personally short of a substantial delay with Global Collect's local bank transfer service which was essentially GC's fault. Either way IC Markets is aware of this perception, whether right or wrong, and there does appear to be a genuine drive recently to step this up per my correspondence with Angus Walker.

Manipulating reviews? No idea. Can't confirm or deny it. Has anyone provided proof of this?

Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
stevewalker
stevewalker
Oct 17 2013 at 06:11
1439 posts
Hi Surrealistik

'With regards to the cost of trading at ICM, it can be further reduced by a discount of $1.55 USD or equivalent / RTL over the standard $1.50 USD / RTL per my signature. I definitely invite you to take advantage of this for your test accounts.'

can you please more specific on that. I actually opened live account over IB & got the $1.50 direct dicount means I will pay $5.50 round turn per lot. Is there any other rebate over that?

The manuplating issue did not prrofed for IC Markets. I can personally say that I smell of it. But smelling is not a proof in this bussines :)
I am sure this been done by most brokers. Is it ethic? No it is not.

Due to platform freeze, I personally dont trade news hours. So I hope it will not become issue for me. But whlile not trading those hours , sometimes I get cought with some floatings & have to trade. we will se.

thanks for info
walker

Surrealistik
Oct 17 2013 at 06:25
227 posts
I personally offer the $1.55 / RTL discount per that signature link. Yes, it is higher than the typical $1.50 / RTL for a final commission of $5.45 / RTL. That may not be a big difference but it does add up over time, especially if you're a high volume trader.


As far as review manipulation goes, what I would be concerned about is competition trying to slander; I'm not saying that's the case necessarily, but when these sorts of accusations come up without proof, you can be sure there's a pretty good chance that this might be happening.

Cheers,
Kyle

Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
stevewalker
stevewalker
Oct 17 2013 at 06:48
1439 posts
ok got it. but I actually opened account over an IB. so I dont think ICM will replace it with the one you mentioned.

I dont too much stuck in review issue.
I am an open person I say what I think.

what concerns me about ICM is;
1 - high slippage which is the most common issue of Australian Brokers even on Demo. I can call that a type of honesty while most brokers do not slipp on Demo but dıo on Live
why I afraid of slippage is because my trading style is intraday & very sensitve to cost

2 - Costs are too low & this comes like 'too good to be true'.

the only thing I can say I wish I would be able to visit their office :)


Surrealistik posted:
I personally offer the $1.55 / RTL discount per that signature link. Yes, it is higher than the typical $1.50 / RTL for a final commission of $5.45 / RTL. That may not be a big difference but it does add up over time, especially if you're a high volume trader.


As far as review manipulation goes, what I would be concerned about is competition trying to slander; I'm not saying that's the case necessarily, but when these sorts of accusations come up without proof, you can be sure there's a pretty good chance that this might be happening.

Cheers,
Kyle

stevewalker
stevewalker
Oct 17 2013 at 07:00
1439 posts
from day one I had trusted pepperstone & actually trading with it. When I go back look for reasons why I did trust that way are;

- Regulated
- Australian
- No Bonus
- Straight forward Marketting. No hidden fees/tricks & good/patient support
- Very sensitive to money laundering

I see all same at ICM also. I hope I am right again :)

in the event of fail, I will be dissapointed for 2 issues
- loosing the funds
- loosing the possibility of %20 lower cost trading then my actual

- The cause between Winner & Looser is COST Only. Nothing more
above words may come meaningless/wrong to many traders. Believe me it is true. same as for all other business types.


hope I am clear

togr (togr)
Oct 17 2013 at 07:26
4862 posts
I would say we need to open small 1k account and observe.
To reduce slippage I would get VPS connected to their server so ping is about 2-3 ms
thus trades have to be under 1sec.

dunkdenk
Oct 17 2013 at 07:35
85 posts
Same as me, been with pepperstone since 2011 and happy with them on their edge server. Now I'm also with ICMarkets just to diversify my equity. I hope the wire withdrawal process with ICMarkets could provide less fee, but I'm bit pessimist on that as ICM seems also use NAB, and wire transfer from NAB to my bank will have to trough intermediate bank (Standard Chartered - which cost me $70 and I know this from my bank when I withdrew from pepperstone which also use NAB).

 
stevewalker posted:
from day one I had trusted pepperstone & actually trading with it. When I go back look for reasons why I did trust that way are;

- Regulated
- Australian
- No Bonus
- Straight forward Marketting. No hidden fees/tricks & good/patient support
- Very sensitive to money laundering

I see all same at ICM also. I hope I am right again :)

in the event of fail, I will be dissapointed for 2 issues
- loosing the funds
- loosing the possibility of %20 lower cost trading then my actual

- The cause between Winner & Looser is COST Only. Nothing more
above words may come meaningless/wrong to many traders. Believe me it is true. same as for all other business types.


hope I am clear

togr (togr)
Oct 17 2013 at 07:54
4862 posts
I had real account with Pepperstone. Broker was good - the EA I subscribed to sucked.
So I cancelled the account. The point of the support was fantastic. They changed the withdrawal rules so I can use the less expensive way to get my money.

stevewalker
stevewalker
Oct 17 2013 at 09:09
1439 posts
we cant balme any broker due to transfer costs. I had read many reviews about those with many broker
wire transfer costs will always be in this bussines. its banks charge us. I dont trust on brokers those pay those costs by their own means free to customer. those then will be reduced from somewhere else. in reality this must be called as hidden fee instead of bank transfer.

we should acknowledge that broker should also make profit but also surly without rubbing clients :)


togr (togr)
Oct 17 2013 at 09:15
4862 posts
stevewalker posted:
we cant balme any broker due to transfer costs. I had read many reviews about those with many broker
wire transfer costs will always be in this bussines. its banks charge us. I dont trust on brokers those pay those costs by their own means free to customer. those then will be reduced from somewhere else. in reality this must be called as hidden fee instead of bank transfer.

we should acknowledge that broker should also make profit but also surly without rubbing clients :)



That's the thing. Solid broker has to allow more ways for money transfer than old creepy slow costly bank transfer.
eToro as a broker is very poor. eToro in terms of deposit withdrawal is just amazing. Deposit and withdrawal via Paypal. Fast and free.

Topic is locked