IC Markets Review Scores
IC Markets
Overall Score: 3.9 / 5
Total Votes: 712
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IC Markets Discussion
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RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Jul 23 2015 at 06:13 (edited Jul 23 2015 at 06:19 )
There is an interesting case against a regulated broker in the internet...https://www.nfa.futures.org/basicnet/CaseDocument.aspx%3Fseqnum%3D2618....and I find Item 7 interesting:
7. ln order to determine how the slippage settings affected customer orders, NFA analyzed all trades executed on MetaTrader platform on four 'non-farm payroll' dates -December4, 2009, January 4,2010, February 5,2010 and March 5,2010. On those days, NFA's analysis confirmed that IKON's slippage parameters did not allow for any profitable slippage (slippage favorable to the customer)

So, if I take the time and trouble to compile a nice little package to ASIC, that might initiate I-See-Bucketshop trading activities to be scrutinize and analyze by the Regulator and....who knows and not surprisingly at all....they might find many more clients & ex-clients being 'screwed' by this bucketshop broker.

Let me think about that! evil

=====================

P/S: There is also a thread on Virtual Dealer Plugin subject 'Tool to deal with MateTrader Virtual Plug-in! - Donna Forex Forum'

kiwiauthor

Member Since Dec 16, 2011  3 posts kiwiauthor Aug 20 2015 at 08:43
Extremely disappointed with this broker. I have experienced very poor communication, with automated emails followed by no response for days and sometime not at all. Their online help was as good as useless. For instance, when I asked why the Ipol option did not work for international clients the response was that it should work. I went straight to Ipol and was told that ICMarkets doesn't allow international transfers via Ipol.

The kicker was when my analytical program began to record increasingly poor execution speeds and increased slippage relative to the other brokers I work with, using the same EA on the same VPS. When I brought this to their attention my email was ignored. I find this bemusing since I am a large equity client. Needless to say I am in the process of withdrawing all funds from this broker. Even that is proving difficult, as the 2-5 working day time frame they quote in their wire transfer withdrawal option has long since lapsed, and the funds have not been returned. When I emailed them about this I received an automated email saying that they would look into it. As usual I have not heard back. As of today they have been issued with a warning, that if the funds are not in my account within three-days the matter will be escalated to their regulator.

Folks, if you want a professional broker look elsewhere.

RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Sep 01 2015 at 11:29
Those of us who have to deal with I-See-Bucketshop support know all too well the ridiculous low level of customer service. On their website, they boldly advertise:

'Unrivalled Customer Service
IC Markets strives to offer you the best possible customer service and support. Our team has a significant amount of experience within the forex industry, all of which trade themselves so they understand what traders want and need. You can trade with confidence knowing that the IC Markets team will always be there to help 24 hours 5 days a week.'

That is false advertising and anybody/Traders who have unacceptable level of customer service should highlight that to ASIC (Australian Securities & Investments Commission - https://www.asic.gov.au/about-asic/contact-us/how-to-complain/) because ASIC review on I-See-Bucketshop registration is due on 2/01/2016. Any complaints lodge against this bucketshop broker will have an effect on ASIC review.

For me, I have already file my report on this bucketshop broker and as long as they cannot prove to me that spread widening on USD/CAD did happened as they claimed on 5/Mar/2015 to killed my account before its time, I will continue to post my issues wherever I can on this I-See-Bucketshop broker.

Quite frankly, I really do not give two hoots to that trading account as it, like so many other trading accounts before with more than 10 different brokers, would be wipe-out eventually anywhere. BUT I do have issues on the circumstances on how that account died before its time.

This broker used to be a good broker, but since last year, it has turned into a bucketshop broker and will be known to me as I-See-Bucketshop because that’s what it has degenerated into….i.e. a bucketshop broker.

BlastMyForex

Member Since Aug 12, 2015  1 posts BlastMyForex (BlastMyForex) Sep 08 2015 at 06:23
I only have joined IC Markets because it is used my one of the best signal provider, known to me.
I worked in the industry for several years and I know there are preferential treatments if you join a broker trough a big partner, like the hedge funds who runs the strategy I am linked to follow.
I worked in a huge FCA regulated company and, after all, many people lost money anyway when the Bank of Switzerland decided to uncap the exchange ratio of the CHF against the Euro.
Some brokers were forced to closed the positions of the clients and minimise losses, the insolvency of the firm left many big accounts severed but the FCA would not protect many of those under the FSCS scheme although they should have.

Point being, if a 20+ million USD hedge funds work with IC markets... it might not be such a bad broker.

I have about 75k there and I'd prefer not having trouble, I will report eventually.

cogs15

Member Since Oct 25, 2014  10 posts cogs15 Sep 15 2015 at 10:00
I used to use these guys prior to Dec 2014 and they were quite good, had some great aussie guys you could chat with to resolve anything, now you can only internet chat or talk to all Asian people, not that there is anything wrong with that it's just that there was obviously a change of ownership and many noticeable data feed changes.

Customer support is very, very difficult trying to explain the simplest of problems, and you cannot withdrawal to your bank account for 60 days after depositing.

Have a good read of their PDS, it is heavily weighted to the broker with nothing for the trader. I read all PDS but have seen nothing like theirs before.

I am going to grab my money and run.

For those interested I have the 'VirtualDealer versus Manual Execution: What Is Better?' and movies of what it can do, if anyone is interested.

This post will probably be removed quickly, no doubt as the VPD manual above has been removed from MQL4 site.

My niche is based on facts, and not following others
thomsont

Member Since Feb 09, 2012  7 posts Thomson (thomsont) Oct 12 2015 at 13:37
Having connection issues twice already this month.. order execution been very bad since August.
Time to change broker.

Tptam@
thomsont

Member Since Feb 09, 2012  7 posts Thomson (thomsont) Oct 13 2015 at 06:22
Another server down today... And good ECN broker suggestion?

Tptam@
VabRus

Member Since Mar 23, 2012  32 posts QuantumLabs (VabRus) Oct 13 2015 at 08:54 (edited Oct 13 2015 at 08:55 )
yes, are down the real server LIVE02, this is incredible

ICMarkets is bullshit

Surrealistik

Member Since Apr 28, 2012  225 posts Surrealistik Oct 13 2015 at 15:53 (edited Oct 13 2015 at 15:58 )
ICM just sent out a notice over MT4; they're aware of the issue and seem to have fixed it. If anyone lost out due to the disruption, they've been told to contact Support at support@icmarkets.com; they might provide you with compensation.

Network Service Disruptions
Dear Trader,

IC Markets would like to acknowledge the network disruptions that occurred over the last week and a half, and extend an apology to any trader who was affected. IC Markets strives for 100% uptime of our network and platforms to provide traders with the best possible trading environment. This is why we must stress that we take incidents like this very seriously and have taken immediate steps to mitigate the risk of another disruption as well as implemented larger plans to overhaul our network and hosting infrastructure entirely.

For just over a week IC Markets has had intermittent internet related failures which meant some clients were unable to connect to our MT4 servers. Monday 5th was hardware related whereas issues over the remainder of the week and early this week were ISP related. As a result this ISP has been completely removed from our infrastructure indefinitely. The removal process of the ISP caused downstream issues which is why there was continued disruptions to the service today. Now that the ISP is removed we do not foresee the same issue occurring, however, we remain on high alert for the rest of the week.

Encouragingly the causes for the issues were identified in real time although the fixes that were put in place to restore immediate connectivity took longer than we would all like. Again, we have to acknowledge that this isn’t good enough and take we encourage anyone affected by the disruption to contact support@icmarkets.com. IC Markets are fully committed to ensuring we maintain the most reliable trading infrastructure possible.

We would like to take this opportunity to thank you for trading at IC Markets. If you would like a call to discuss the above further then please let our support team know support@icmarkets.com.

Happy trading!

Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
Justlme

Member Since Mar 18, 2014  2 posts Vinny C (Justlme) Oct 14 2015 at 06:05
Thomson you are not alone, IC has been okay with me, super short reconnecting issues before, but now its server down, WITH my open trades, once i can forgive but this has become an intermittent thing taking my money and moving out IF and WHEN i close my trades,

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