IC Markets

STAY AWAY from this broker!!!!

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.

There is a pending case against ICMarkets over at the Forex Peace army and, even though their representative has been invited to explain their company's position, none took up the invitation.

That's a very disconcerting concern because that indicates that the broker might indeed be in trouble.

@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.

RahmanSL posted:
'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! '

You seem to be an expert on STP/ECN brokers for a demo trader.

'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.

i like www.icmarkets.com...

fariwar posted:

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!

It is very reassuring to know that IC Markets are making best efforts to help out their clients. I also recently read that IC Markets has decided to Cover for the Client Negative Losses from Swiss Franc Volatility. Please find the official Press release announcement made by IC Markets here: https://forexmagnates.com/ic-markets-covering-90-client-negative-losses-swiss-franc-volatility/

fariwar posted:
ICMarkets is a real scam broker! STAY AWAY!!!

I had 3 accounts at ICMarkets and another account on Saxo. With SNB debacle the ICMarket accounts lost over 14k while Saxo account lost 200euro's with exact same robot. All 3 ICMarket accounts had exact same trades copied from 1 to another.

ICMarket was sending illegal/fiction prices for USDCHF during the news. Regarding all financial reports, including Bloomberg, USDCHF has never ever been on that price. The difference between actual price and ICMarkets price is over 2000pips!!!
You can see all my trade details here!

After 3 weeks of calling, several emails and promisses that they will adjust the trades to the right price, all they say was this:
"Upon further review of your accounts, our trade desk have assessed that there are no pending adjustments on your accounts as the rates have been verified as correct by our liquidity providers and stopouts occurred correctly. During the SNB announcement, spreads were extremely wide, and as there was uncertainty by the banks on where to price the CHF pairs there was no liquidity as a result."

These 3 accounts lost all together over 14k and had same trades. They adjusted trades on 1 account with 740euro's (which is nothing if you look at the loss). But the most crazy thing is that they say the trades on the other 2 accounts don't need adjustments while they have been traded on the same price.

All they do is blame the liquidity providers which they chose by themselfs. When you don't know where to price a currency why do you just send fiction prices? and allow trades on those prices? Saxo just blocked tradings and did send real prices. On ICMarkets graph you can see USDCHF went down all to 0.04, which should mean: USD doesn't exist anymore.

This is just steeling money from traders by sending fictionary prices to MT4.

I'm now sending a letter to Australian Securities and Investments Commission (ASIC) to investigate this as ICMarkets is not taking this seriously.

I had a desire to work with them but then it disappeared. Thanks for the warning.

Fairwar the pirces are not fictional this shows how much you know about OTC derivatives & liquidity pools. In the SNB debacle as you may wish to call it the quoted prices on MT4 where stale meaning the prices showing on MT4 where not reflecting where the market really was as NO one in his right mind would even give you a quote and if they did moist probably it would have been 10% if not more between the bid and ask

You simply cant smear someones reputation simply because you are still wet behind the ears on how liquidity pools works especially for an STP?ECN broker like IC markets. The brokers you quoted in your essay above are classified as market makers & NOT STP/ECN brokers so they can adjust whatever they want cause they run their own book.

I have no relation to IC Markets or any other broker. From all the brokers I used in my 30 years of trading Forex the execution, spreads & customer service is excellent & the best I have ever seen so far.

I truly suggest that you stick with market makers to enjoy the bonuses, competitions & adjustments as most probably you will end up losing your money to them while you think you are being given a great service

Fortunately on this week ICMarkets making a sense on my claims ( ant on claims of another clients as well ) . I get adjusted NZDCHF to close price at 0.6700 and USDCHF on 0.91163. That is caused me to get back my ~65% of deposit which is reasonable and fair.
From now i have no any claims to ICMarkets.

Thanks.

I had $10,000 on my account during SNB news. I had opened 2 NZDCHF and 1 USDCHF and plus some small positions. During SNB news ICMarkets sent horrible unbelievable quotes like a 0.06050 on USDCHF which is causing my account to stop-out. During positions were closed i have $103,7 margin used. After stop out i have left $240 on my account.

After i get 'adjustment' they thrown me $1884 like a for dog and they said it is final decision. I do not have to explain when i have $1884+$240 equity and while $103,7 margin used it is very far away from margin call and stop out.

They decide to not reinstate positions. They decide do not compensate more. I lost 85% of account while RIGHT prices was on 50% ( ~$5000 ) of my account.

Also i have another 2 accounts which is not get margin called or stop outed. I have there only 1 USDCHF and even with that weird misquote imy account was alive. After SNB news i was in shock and quickly closed that positions on both accounts. After that ICMarkets adjusted my closings, because i closed my positions ON WRONG PRICES, they adjusted 2 of my accounts and deposited some money.

But here is the shame they suddenly removed adjustment from these 2 accouns ! I have a daily statements where i can see adjustments, but on platform it is erased already and no money was refunded at all !

Batcheler posted:
Is broker ok for US resident?

Unfortunately not, though you can do business with them via an International Business Company.

I have been used icmarkets for one year. Great execution, no requote, tigh spread, average customer services, and fast withdrawal.

one of the most reputable ecn brokers , it drew my attention the regulation that it has , so it's recommended for whom who want to trade safely

i have been trading on a strandard account with ICMarkets i find spread tight ,also i havent faced any troubles with the platform which enables scalping and EA .. and i think that withdrawal request processing is one of the fast as long as you make the request before 13:00 (GMt) Respectable Broker

Batcheler posted:
Is broker ok for US resident?

no us resident

Batcheler posted:
Is broker ok for US resident?

No idea mate. Ask them ;)

Is broker ok for US resident?

Great broker. Never had any downtime. Easy to trade lower time frames. Faultless.