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IC Markets

chesterjohn
Apr 25 2018 at 07:07
16 Posts
Are these people 100% kosher? I'm a bit concerned about them. I opened an account because they offered low spreads and seemed to have decent reviews. I've been trading a demo account for a while.

A couple of weeks ago, I opened a live account for the future, but didn't do anything with it. It asked me for ID documents as they all do. Then last week I got an email saying my ID documents have been approved and that my account is now live to trade, however I didn't upload anything at all. Seems a bit fishy to me

AniLorak
Apr 25 2018 at 12:37
920 Posts
chesterjohn posted:
Are these people 100% kosher? I'm a bit concerned about them. I opened an account because they offered low spreads and seemed to have decent reviews. I've been trading a demo account for a while.

A couple of weeks ago, I opened a live account for the future, but didn't do anything with it. It asked me for ID documents as they all do. Then last week I got an email saying my ID documents have been approved and that my account is now live to trade, however I didn't upload anything at all. Seems a bit fishy to me


Whatever, verifying the account via national ID or passport is not a bad thing actually.

Tiffany (TiffanyK)
Apr 25 2018 at 14:29
427 Posts
togr posted:
During the swiss peg removal when market gone crazy I have negative balance on one of my account. They simply took the negative amount from other profitable accounts. Without my permission or even notice.
When I complained they told me it is standard practice.
Can provide proofs if necessary
On the other hands I am trading with them for years- my Caesar system is on IcMarkets since 2013 without another issue.


That's not а Negative balance protection at all.. the idea behind the negative balance is to cover the losses. Of course, it can't go on forever, and in such cases I suppose the broker may impose some limitations to t the account somehow ...

Accept the loss as experience
vontogr (togr)
Apr 25 2018 at 14:56
4862 Posts
chesterjohn posted:
Are these people 100% kosher? I'm a bit concerned about them. I opened an account because they offered low spreads and seemed to have decent reviews. I've been trading a demo account for a while.

A couple of weeks ago, I opened a live account for the future, but didn't do anything with it. It asked me for ID documents as they all do. Then last week I got an email saying my ID documents have been approved and that my account is now live to trade, however I didn't upload anything at all. Seems a bit fishy to me


well I do not know if they are Jewish - as only Jewish can be kosher.
But they are pretty good. I do trade Caesar with them since 2013 and had only 1 problem so far.

vontogr (togr)
Apr 25 2018 at 19:19
4862 Posts
TiffanyK posted:
togr posted:
During the swiss peg removal when market gone crazy I have negative balance on one of my account. They simply took the negative amount from other profitable accounts. Without my permission or even notice.
When I complained they told me it is standard practice.
Can provide proofs if necessary
On the other hands I am trading with them for years- my Caesar system is on IcMarkets since 2013 without another issue.


That's not а Negative balance protection at all.. the idea behind the negative balance is to cover the losses. Of course, it can't go on forever, and in such cases I suppose the broker may impose some limitations to t the account somehow ...


yeah broker should liquidate positions when you are out of equity. Not making users responsible for that.

chesterjohn
Apr 25 2018 at 19:21
16 Posts
TiffanyK posted:
togr posted:
During the swiss peg removal when market gone crazy I have negative balance on one of my account. They simply took the negative amount from other profitable accounts. Without my permission or even notice.
When I complained they told me it is standard practice.
Can provide proofs if necessary
On the other hands I am trading with them for years- my Caesar system is on IcMarkets since 2013 without another issue.


That's not а Negative balance protection at all.. the idea behind the negative balance is to cover the losses. Of course, it can't go on forever, and in such cases I suppose the broker may impose some limitations to t the account somehow ...


It's a turn of phrase over here, maybe not used where you are. They seem to have generally good reviews, it's just alarm bells go off when they start asking for my money but I haven't done the thing they're telling me I have to be able to do that...

Tiffany (TiffanyK)
Apr 26 2018 at 10:30
427 Posts
AniLorak posted:
Whatever, verifying the account via national ID or passport is not a bad thing actually.

Yeah, it is actually quite a reliable sign to know if my broker is fully regulated.

Accept the loss as experience
Tiffany (TiffanyK)
Apr 26 2018 at 10:32
427 Posts
chesterjohn posted:
A couple of weeks ago, I opened a live account for the future, but didn't do anything with it. It asked me for ID documents as they all do. Then last week I got an email saying my ID documents have been approved and that my account is now live to trade, however I didn't upload anything at all. Seems a bit fishy to me

Sounds absolutely fishy to me too. How could they open a real account if they haven't made client's verification with the ID documents on the first place?

Accept the loss as experience
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