advantageFX
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STAY AWAY!!!!
600pips !!!!!!! spike!!!!!!!!!!!!! just last Wednsday (15/8/18) at 07:16 GMT on USDTRY wiped out my hole portfolio.... and it is ONLY THEM!!!! You can check at tradingview.com (or anywhere else you want)... See photo attached! Left are normal prices... Down there, the red line is where the ICmarkets spike reached!!!!! (as you can see on the right as well, in ICmarkets's Ctrader! chart) WAAAAOOOO!!!!! these guys made a lot of money!!!! (and closed many "homes" as well)...
When I emailed them, the replied with an explanation of what is margin and how it works!!!!!!!!!! Not only they are stealing you, not only they are fooling you, not only they have absolutely no mercy, they are making fun of you as well....
Don't want to say anything bad but one should not be trading such a volatile pair as USD TRY unless you got a big excess margin to cover the big swing in a volatile pair such as this. Even with small lot sizes you can loose big.
Secondly keep in mind that IC markets is an STP broker so it is not the brokers fault such a big price movement and big spread. If you think about it the liquidity providers are mainly BIG BANKS and as we know banks don't like to loose money. So what the will do? You guess it they will widen the spread or they will update the price less frequently so you get slippage. This is how the STP works. IC markets is only a broker in the middle and they get all the blame unfortunately. The LPs should get the blame not IC markets. With STP broker you need to learn when you can trade and which pairs to trade in order to make money. And of course to know where to place a SL as BIG banks like IC Markets is using are very aware at what levers retail traders are likely to place their SL and they can easily widen the spread. Once you learn this its will get easier to make consistent profit is you also apply a very careful risk management.