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IC Markets

Tiffany (TiffanyK)
Apr 05 2018 at 13:21
427 postów
faithl3ss posted:
I'd like to open an account.

I got one question and found nothing on google oder your site.

Do you have some negative balance protection like other Brokers (JFD) have it?

Yes, Negative balance protection is a very good advantage when it comes to choose a broker ...and a good sign that the broker is a reliable one. But I think if the brokers have it , they would put it on a visible place on the site, it is a positive feature after all ...
Accept the loss as experience
Wingandprayer
Apr 06 2018 at 12:09
13 postów
New EU regulations should mean that all brokers in the EU have negative balance protection
Svenson
faithl3ss
Apr 08 2018 at 06:09
3 postów
TiffanyK posted:
faithl3ss posted:
I'd like to open an account.

I got one question and found nothing on google oder your site.

Do you have some negative balance protection like other Brokers (JFD) have it?

Yes, Negative balance protection is a very good advantage when it comes to choose a broker ...and a good sign that the broker is a reliable one. But I think if the brokers have it , they would put it on a visible place on the site, it is a positive feature after all ...

they do. https://www.jfdbrokers.com/en/about-jfd/company-news/514-jfd-introduces-negative-balance-protection.html ;)
Svenson
faithl3ss
Apr 08 2018 at 06:10
3 postów
Wingandprayer posted:
New EU regulations should mean that all brokers in the EU have negative balance protection

yeah. BaFin (Germany) regulated Brokers, like JFD have a negative balance protection for good. I want open another account on IC Markets. IC is just ASIC regulated and they still have no negative balance protection.

So what could happen to a EU citizen in the worst case with an australian ASIC regulated broker?
Tiffany (TiffanyK)
Apr 12 2018 at 13:03
427 postów
faithl3ss posted:
So what could happen to a EU citizen in the worst case with an australian ASIC regulated broker?
I think in order to determine in which country's legislation you'd fall, what matters also is where you live .... There 's surely a difference in both regulators ( sorry, I am not very familiar with ASIC's regulations) , however if you are a European citizen, you still have to comply with EU regulations for financial markets.
Accept the loss as experience
HFT Group (jonpearce)
Apr 12 2018 at 13:25
86 postów
If the broker does not have a EU entity EU citizens can trade with that ASIC broker. Negative balance protection will not be too far away for ASIC brokers I believe. IC Markets is rock solid and as well reputed as EU brokers, just not as stringently regulated (yet).
Highest Forex broker rebates:
Cloudballs
Apr 13 2018 at 12:24
12 postów
IC is a very good broker. I used them for years
Herden (Herden)
Apr 24 2018 at 06:16
15 postów
About IC Markets, I would like to know:

1) What are the advantages of opening an account directly with IC Markets versus an IB?

2) Has anyone here had any problems with withdrawing money from them?

3) I am based in Europe, and they charge a LOT for bank transfers...what '100% cost free' options do they offer to deposit and withdraw money?

Thanks
Life is like a box of trades, you never know what you are going to get.
HFT Group (jonpearce)
Apr 24 2018 at 06:41
86 postów
1) No advantage whatsoever opening directly. If you open through a reputable IB you get exactly the same conditions but with a rebate or discounted commission rate.

2) I have been trading with IC Markets for 6 years. Never had an issue withdrawing direct to AU bank account and via Neteller. Have never had a client contact me regarding problems withdrawing.

3) Credit/Debit card, Neteller, Skrill etc.
Highest Forex broker rebates:
vontogr (togr)
Apr 25 2018 at 06:34
4862 postów
TiffanyK posted:
faithl3ss posted:
I'd like to open an account.

I got one question and found nothing on google oder your site.

Do you have some negative balance protection like other Brokers (JFD) have it?

Yes, Negative balance protection is a very good advantage when it comes to choose a broker ...and a good sign that the broker is a reliable one. But I think if the brokers have it , they would put it on a visible place on the site, it is a positive feature after all ...


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.
chesterjohn
Apr 25 2018 at 07:07
16 postów
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 postów
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 postów
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 postów
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 postów
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 postów
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 postów
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 postów
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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