Stay away from this broker they manipulate trades:
My icmarkets account number : 407387
Yesterday 23pm EUROPE Paris time trade with Icmarkets NZDUSD news trade Official cash rate
I put a pending stop order 22:55pm, news came in the candlestick didn't move and just stood there for 3 min yet on my other broker the trades got triggered candle moved nicely down bearish and got my profit.
Icmarket 3min while watching the graph on the Icmarkets terminal suddenly the candlestick flashed in the bottom it literally just appeared and my order got opened after a 121pips downward move when bearish run had finished, instead of banking 121 pips profit i was forced to close the trade hence it got opened at the bottom of the bearish candle .
They obviously manipulated the order and only executed at the bottom when the run had finished and conveniently set this up with their market manipulation software.
hello everyone, I need help with my broker as i'm a novice in these wanderings. Last friday when nfp I had several orders pending sell stop and buy stop, which opened with a skid ranging from 2 pips and 115 pips. When I realized I was the live chat and the operator who answered me told me to fill out a form and told me to fill as it had been many issues on Friday. He told me to wait for response from the trades department. After some insistence to have open trades and find that the broker (Icmarkets) should the void today received the following email.
Support (IC Markets)
Jun 10, 15:31
As your orders was submitted during market volatility (non-farm payroll), there was a 200 pip spike on EUR/USD and similar movement of other pairs where prices were moving very fast resulting in the slippage. There were no anomalies found in the execution of your orders. Please note that ICM offer variable spreads and execution according to live market conditions, we do not offer guaranteed stop losses or offer fixed spreads.
Let us know if you have any questions.
Sung Choi | Support Team Leader | IC Markets''
I disagree with this for this slippage is inadmissible and orders should have been off-quotes. What do you think should I do ???
Not a true ECN broker. They have a very nice dealing desk to manipulate your trades. If you are simply trading with your EA without watching your log files, then you can continue trading hoping for making profit someday!!!
But I have multiple accounts with IC markets and on every strategy when it starts making some profit they will start sending slippage of 10 pips!!!! Also, the execution time becomes 600 ms or more where the latency of my vps is around 30 ms.
When I contact their support , they just keep on explaining on emails without fixing the problem and emails simply go on which clearly indicates that they are just a broker claiming to be a true ecn broker and try to avoid the situation if someone figures it out.
I gave them all log files with proof, they reply some nonsense or just don't reply.
Hence, be careful before opening a LIVE account. DEMO is absolutely fine.
Also, pepperstone is of same category and watch out.
@Fariwar....just typical broker's salesman lack of training in PR, arrogant attitude, and frustrated in working for a quickly deteriorating company like ICMarkets. They keep that up and these broker's salesmen will bring the company down to go the same way as the other has-been brokers.
We are the Traders with the money to pay their salaries and commissions and we do not need to trade with a bad broker as there are hundreds of other much better brokers out there to chose from.
'Well i have to rectify my post! This week ICMarkets contacted me and they have refunded all losses! that is been very generous! and i've to say i'm very happy with them! '
Well, don't be that happy because if they did it once they will do it again. And there are a lot of ways that brokers can manipulate their client's trading account on MT4 platform. If they get caught, they will blame that on something or someone and, to keep you happy and from posting bad reviews on them, reimburse your losses.
My advice is to look for a new broker and withdraw your money while you still have them in your account.
peter977 posted: Is there someone who is trading with this broker more than a year? Please send me message. I want to know if this broker is scam, or is really the best. Thanks
I have been with this broker....at least 3 different live accounts ranging from a few hundred AUD to almost AUD90k....for over a year. At first I was really pleased and happy with this broker and even defended them in various forums when I read some negative reviews on them. Even with all these many total stop-outs (at least six of them with this broker and many more with more than ten different brokers in the more than 4 years trading the forex market), I have never once made an issue or complaint on any of my account stop-out because I either saw that coming with margin-call warning or I was not monitoring my account(s) when the total stop-out occurred.
However, the latest account (relatively small just over AUD5k) total stop-out with ICMarkets was very, very strange and unusual in that, one moment I was monitoring the account which was hedged in one single currency pairs (USD/CAD) with over 450% margin level, but all of a sudden and without any margin-call warning followed by forced closures of highest losing positions, the account was totally wiped out and left with a negative -AUD30.27 balance. I was totally shocked.
After a couple weeks back & forth emails exchanges with their Support (three different persons) all explaining to me why account stop-out happen (as if I don't know after these numerous stop-out experiences), and possibility of market volatility or widening f spreads due to low market volume (none was happening on both), they simply could not explain why the account stop-out happened the way it did. Finally, they simply informed that they have exhausted all their explanations and left the matter hanging.
As I have already mentioned, I was once a very happy and satisfied client of ICMarkets and I thought all those very similar negative issues that some of their other clients have been posting would never happened to me because, as one of their owner emailed me a long time ago, ICMarkets & I understand each other.
Well, from being a well satisfied and happy client, I am now a very Unhappy & dissatisfied client.
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