Problem IC MARKETS is a dishonest dealer who will steal your money anytime

[Yajing-Liu]

On December 12, 2022, I opened a trading account (90027449) with ic markets and have been conducting regular trades. During the period between May 3rd and 10th, I traded the US2000 instrument and made a total profit of $50,000. However, on June 8th, my account was suddenly deducted $45,000 without any prior notification. The next day, they informed me that there had been an error in the US2000 swap rates from March to May, and they had the right to make adjustments. I am outraged by their actions.
Firstly, the deduction was made without any notification, demonstrating their authoritarian and aggressive behavior.
Secondly,The IC Markets client agreement states that they can adjust a client's funds based on "obvious errors," but they abuse this provision.They did not provide any evidence of an obvious error. If they believe there was an error in the swap rates, they should present detailed evidence to avoid misunderstandings and speculation. The lack of transparency and evidence behind the deduction is unsettling and raises doubts about my trust in the entire trading platform.
Thirdly, it is unbelievable that they had incorrect swap rates for three months and made multiple adjustments during that period without realizing the mistake.Before conducting any trades, I even consulted their staff who advised me to review the specifications in MT4.
Fourthly, if there was indeed an error, customers should not bear the losses because ic markets provided incorrect trading information. Many traders not only lost their profits but also their capital after ic markets adjusted their funds. It is ridiculous for a brokerage firm to make a mistake and have the customers bear the losses. If there was indeed an error in the swap rates, they should have notified me promptly during the trading process and allowed me to make appropriate decisions to protect my interests.
Fifthly, ic markets claims that all traders were subject to adjustments, but I have seen some traders on forums receiving refunds. I am angry about ic markets' differential treatment of investors.
Lastly, if your account is under offshore regulation, I strongly advise withdrawing your funds from ic markets immediately as they lack integrity and can do whatever they want with your money without accepting any negotiations.

 

[4evermaat]

On December 12, 2022, I opened a trading account (90027449) with ic markets and have been conducting regular trades. During the period between May 3rd and 10th, I traded the US2000 instrument and made a total profit of $50,000. However, on June 8th, my account was suddenly deducted $45,000 without any prior notification. The next day, they informed me that there had been an error in the US2000 swap rates from March to May, and they had the right to make adjustments. I am outraged by their actions.

Of course you are mad. Everyone who comes here is always mad.

Secondly,The IC Markets client agreement states that they can adjust a client's funds based on "obvious errors," but they abuse this provision.They did not provide any evidence of an obvious error. If they believe there was an error in the swap rates, they should present detailed evidence to avoid misunderstandings and speculation. The lack of transparency and evidence behind the deduction is unsettling and raises doubts about my trust in the entire trading platform.
Thirdly, it is unbelievable that they had incorrect swap rates for three months and made multiple adjustments during that period without realizing the mistake.Before conducting any trades, I even consulted their staff who advised me to review the specifications in MT4.

When you have the ability to renege on client orders anytime, with no consequence, then this happens.

With an agency model brokerage, these silly behavior cannot happen.

Fourthly, if there was indeed an error, customers should not bear the losses because ic markets provided incorrect trading information. Many traders not only lost their profits but also their capital after ic markets adjusted their funds. It is ridiculous for a brokerage firm to make a mistake and have the customers bear the losses. If there was indeed an error in the swap rates, they should have notified me promptly during the trading process and allowed me to make appropriate decisions to protect my interests.

Again, I agree 100% with what IC should have done. But if you lay down with dogs, you will likely catch fleas.

Fifthly, ic markets claims that all traders were subject to adjustments, but I have seen some traders on forums receiving refunds. I am angry about ic markets' differential treatment of investors.

Are you familiar with the behavior of using larger deposits from other clients to pay smaller clients? Majority of cfd business models are legalized ponzi schemes. You must first overcome your gambling impulse to fully understand this.

Is it really Prime of Prime? The Keys to Understanding

[Originally written by Anya Aratovskaya for Advanced Markets Fx Blog; 2015.09.15] Is it really Prime of Prime? Keys to Understanding As a VP of sales, I have noticed that during many of my conversations lately I am helping brokers and fund managers identify the most appropriate trading venue...

www.forexpeacearmy.com

Lastly, if your account is under offshore regulation, I strongly advise withdrawing your funds from ic markets immediately as they lack integrity and can do whatever they want with your money without accepting any negotiations.

The misbehavior of the broker @IC Markets is atrocious. But then again, are we doing anything to stop the gambling behavior than enables companies to do this? Wanting 1:10000000 leverage, scantily dressed women, fast cars, and rebate commissions (to perpetuate the scam among your peers); all of this enables this rinse/repeat non-sense.

in the mean time, please make a review of your experience here:

IC Markets review: Is it a legit or scam forex broker?

IC Markets is in my opinion the best broker you can find on the market at the moment. Their support is always online and really always superfast and helpful. Also, the spreads and order execution works flawlessly. Deposit and withdrawal also go smoothly.

www.forexpeacearmy.com

note that this review is separate from the problem thread.

 

[compu-forex]

Of course you are mad. Everyone who comes here is always mad.