After a 6 month investigation from the Ombudsman in Australia (FOS) , tons and tons of emails exchanged and lots of lies, innuendo and piles of constructed false argumentation from this broker, ILQ was finally forced to return my funds back.
It's a story with a partial happy ending as the process took lots of months and as ILQ only accept USD accounts. As I am in an EUR based country and EUR was appreciating so much during the months of the dispute, I ended up loosing a ton of money in currency exchange difference, as ILQ refunded the USD nominal value they were trying to seize. The FOS doesn't protect customers in this instance, or any other costs you incur when trying to get your money back, so please be aware that you are only partially protected by the regulation scheme in Australia, but nevertheless it seems to work and to be effective as opposed to other jurisdictions.
In the end of a very stressful process I was happy though to see that ILQ couldn't get away it its intents to steal money from a customer and some justice was made.
This scam company profits from your business with them in the form of spreads for months in a row and when you decide to withdraw your funds, if you are in a good profit, they terminate your account and confiscate 100% your profits including the ones made long time ago, since the very first day of trading with them.
They terminate the account on the argument that there was scalping trading involved, but refuse to give you any details about the exact trades they consider that to have occurred, or what leads them to think your trading is not acceptable. You have no way to dispute what ILQ is presenting as the reason to confiscate your profits (even if there is no reason whatsoever that can justify the cancellation of profits made almost one year ago). They 'cleverly' wait for the time you need your money back and close down the business with you and misappropriate your hardly won money.
I cannot provide any extra detailed information here as I am building a case against this scam company to recover my money back and I don't want them to know all my arguments beforehand, but please just be aware they have no problems in even acting against their own Terms of business, if that means they can steal all your profits from you to their own benefit.
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.