Problem Outrageous!! IC MARKETS has robbed super high net worth clients, with an amount reaching $436,668

[danney5215]

IC MAREKTS has robbed super high net worth clients, with an amount reaching $436,668

I am a VIP client of IC in Taiwan.
Over the past few years, I have deposited over $10 million with IC MAREKTS.
I am one of the few high net worth clients with a large capital.
I have always believed that IC MARKETS is a very fair company.
I have been operating several million dollars with them, and I have been the trading champion in the FOLLOWME trading competition for three consecutive sessions!
I am a well-known investor in the market!

On June 7th of this year, IC MAREKTS deducted $436,668 from my five accounts, which is the money for a house!
Then they claimed that their US2000 had a setup error between March 8th, 2023, and May 15th, 2023.
I cannot accept this claim at all. Their mistake should not be borne by me.
I have been checking and trading according to the MT4 values announced by IC every day. If we cannot trust the rules announced on MT4 and cannot use them as a standard, what can we investors trust?
If I had taken a different direction today and they had charged me more interest, I believe they wouldn't compensate me.
IC has many products in the market that are not the best, and they haven't compensated me for the overnight fees I was undercharged for all these years. Why did they suddenly say there was an error with US2000 and deduct a huge fee from my account? Is it because I started winning a lot of money this year?

ASIC has already accepted this case and has requested a response from IC's compliance department by July 11th. I consulted with Australian lawyers, and they determined that IC has violated the law.
I found some small investors on the website who have already received this money, but so far, they haven't dealt with my significant fee.
I know many investors have encountered this issue, and recently, I have heard a lot about IC deducting commissions from their agents and other things.
Has IC MAREKTS become a black platform? Are they randomly deducting these fees? I hope they won't do this, otherwise, I will expose this misconduct to investors worldwide and warn them to stay away from IC MAREKTS to avoid being harmed.

Please return my property of $436,668 to me quickly!
Please return my property of $436,668 to me quickly!
Please return my property of $436,668 to me quickly!

 

[CengizKhan]

Did IC Markets go into detail as to what the error was? is it because the product was pricing incorrectly and you had traded on a price lower vs the actual price of the underlying market? be interested to hear more as to what the error was.
Also, the swaps you are paying are pretty high. Please share more details.

 

[4evermaat]

On June 7th of this year, IC MAREKTS deducted $436,668 from my five accounts, which is the money for a house!
Then they claimed that their US2000 had a setup error between March 8th, 2023, and May 15th, 2023.
I cannot accept this claim at all. Their mistake should not be borne by me.

1) there was another victim with a similar problem here:

Resolved: ICMarkets is not a fair broker...when they do a mistake, you are the one they charge!

During the debacle of regional US banks of may 23, I traded instrument US2000 that had a very nice swap rate (I assumed it was coming from future/CFD adjustment in volatile times) but unfortunately even with those good swaps rates I ended globally negative on those trades for -932.23 EUR. I was...

www.forexpeacearmy.com

I am a VIP client of IC in Taiwan.
Over the past few years, I have deposited over $10 million with IC MAREKTS.
I am one of the few high net worth clients with a large capital.
I have always believed that IC MARKETS is a very fair company.
I have been operating several million dollars with them, and I have been the trading champion in the FOLLOWME trading competition for three consecutive sessions!
I am a well-known investor in the market!

2) you have access to put money directly with Prime of Prime brokerage with agency model. So why you mess around with bucketshop model broker?

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

Has IC MAREKTS become a black platform? Are they randomly deducting these fees? I hope they won't do this, otherwise, I will expose this misconduct to investors worldwide and warn them to stay away from IC MAREKTS to avoid being harmed.

3) I'm certainly not excusing IC Markets behavior, but why would you put your capital and that of your clients at risk like this? Certainly you would put "play" money in some legitimate hybrid broker, but the bulk of money with an agency model brokerage. Clearly IC Market's behavior reported elsewhere in the problem reports and scam alerts does not promote any kind of agency.

You have been a member of this forum for several years now, and you deposit with IC Markets??? With all the problem reports and prior scam alerts with all the tricks that they have done? And their reviews (the real ones, not freelancer reviews)?

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

4) BTW, please add your review also ASAP. The review is separate from this problem thread.

I am a VIP client of IC in Taiwan.
Over the past few years, I have deposited over $10 million with IC MAREKTS.

5) May I ask if you have withdrawn more net funds than deposits? So if you have deposited $10 million, have you withdrawn that much or more yet?

ASIC has already accepted this case and has requested a response from IC's compliance department by July 11th. I consulted with Australian lawyers, and they determined that IC has violated the law.

6) You must mean AFCA. Well, please update us on what their initial findings report is.

I know many investors have encountered this issue, and recently, I have heard a lot about IC deducting commissions from their agents and other things.

7) please invite them to come to FPA forum and start a new problem thread
Make sure they do this from their own computer or mobile device; do not share yours.

About 20 minutes of homework for you to do.

 

[danney5215]

I don't know any Prime of Prime brokers, and I believe IC Markets is a very good company in the market, so it's impossible to do anything unusual, but I didn't think it would be so bad.


I have not complained about IC Markets before, I have traded with them for more than 5 years, small problems are acceptable, and I am a medium to long term trader.

And I'm a medium to long term trader, generally not too many disputes, because I'm an Asian investor, I usually only in the Chinese site activities, the Chinese site recently appeared a large number of IC complaints, they deducted the agent and the client's money is quite a lot of money, most of them are also in the Chinese site in the complaint, I'm also in the very many Chinese sites to complain about them! At present, they have not given me a positive reply, but just want to perfume me, to rationalize their rehash of old accounts, arbitrary deduction behavior!

Currently AFCA accepts the case and asked IC Markets to communicate with me to deal with the program, but since this matter is decided by their boss andrew budzinski, only he can change the decision, I am just puzzled as to why IC Markets has not responded to my request.

I just wonder why such a large foreign exchange dealer, will say that their MT4 long-term settings are problematic, and then use this reason with the client in the aftermath of a month to deduct a large amount of fees, I trade for more than 10 years, never seen this kind of thing, IC markets is not starting to lose?

IC Markets began to target the global profits of customers to find unreasonable reasons to deduct fees, all investors should unite to resist this bad platform, if you will make a profit, you have a large amount of money, thousands of don't trade in IC Markets, this is a very dangerous thing, if they are not even afraid of the law, the ASIC regulators think that they should be with me to properly solve, they are If they are not even afraid of the law, ASIC regulators think that they should solve the problem with me properly, and they don't care, then this company can't be trusted at all!

Translated with www.DeepL.com/Translator (free version)

 

[compu-forex]

danney5215,

I feel your pain - what has happened here is a particular peeve of mine. Unfortunately, the broker terms and conditions are quite clear about pricing errors, including swaps. I don't understand what legal grounds your complaint would have. Section 11, starting on page 18 of the Terms and conditions(https://cdn.icmarkets.com/uploads/FSA/IC+Markets+Terms+&+Condition+FSA.pdf) covers the rules on how they deal with a manifest error. You would have agreed to those terms when you opened your account.

To be sure, I am on your side and I don't like it...It should change - brokers should be forced to accept responsibility for their mistakes but as things stand right now, their position is water tight from a legal point of view.

As to the standards of contract specifications on MT4, I am unsure if you are serious, or just letting off some steam. As an experienced trader you should know that there are often errors in the contract specifications of various brokers - I routinely come across issues. It is the responsibility of the trader to be aware of the specifications of the products he/she is trading. Judging by the tone and wording of your post, you strike me as a competent trader and I would be surprised if you were not aware of the error in the swaps on US2000.

As a side note, I should also point out that the statement you posted did not include any US2000 trades, so it is impossible for us to determine the real impact of this deduction.

 

[danney5215]

You should be an IC employee, but don't help explain IC Markets! Otherwise it will be a joke!

A market maker, a company with more than 1,000 times leverage, doesn't have such a setup for two wrong months.
If his us2000 is wrong for two months, then IC Markets XAUUSD is wrong for one year, because his gold is more swiss qute famous companies like him, IC Markets XAUUSD short orders are underpaid by 10USD a lot, he should take a million dollars a day to compensate his clients, this is a clear mistake that he is underpaying, compared to the liquidity companies! This is a clear mistake of underpayment, compared to liquidity companies, which also underpay by so much!

All trading platforms have their own ideas to set up products, some give more, some give less.

If it is a real error, it exists for a day or two, not two months, and then in a month, a total of three months, and then go to the customer deduction, this reason is very ridiculous.

This reason is very outrageous, and has never been seen before, the so-called customer agreement content in the law is not possible up to two months of time error, even asic is not allowed.

Even asic is not allowed to explain this kind of error in this way!

If you can go back and look at your bills for a long time, and recover any overpayment, with this rule, then trading IC Markets will be the most dangerous thing to introduce, they can always use this reason to take any money in your account!

 

[Yajing-Liu]

丹尼5215,

我感受到你的痛苦——这里发生的事情让我特别恼火。不幸的是，经纪商的条款和条件对定价错误（包括掉期）非常明确。我不明白你的投诉有什么法律依据。条款和条件 ( https://cdn.icmarkets.com/uploads/FSA/IC+Markets+Terms+&+Condition+FSA.pdf )第 18 页开始的第 11 节涵盖了如何处理明显错误。当您开设帐户时，您就已经同意这些条款。

可以肯定的是，我站在你这边，我不喜欢它......它应该改变 - 经纪人应该被迫为他们的错误承担责任，但就目前情况而言，从法律角度来看，他们的立场是无懈可击的看法。

至于MT4上的合约规范标准，我不知道你是认真的，还是只是发泄一下。作为一名经验丰富的交易者，您应该知道各种经纪商的合约规范中经常存在错误 - 我经常遇到问题。交易者有责任了解他/她所交易的产品的规格。从您帖子的语气和措辞来看，您给我的印象是一位称职的交易员，如果您不知道 2000 美元掉期交易中的错误，我会感到惊讶。

附带说明一下，我还应该指出，您发布的声明不包括任何 2000 美元的交易，因此我们无法确定此项扣除的真正影响。

丹尼5215,

我感受到你的痛苦——这里发生的事情让我特别恼火。不幸的是，经纪商的条款和条件对定价错误（包括掉期）非常明确。我不明白你的投诉有什么法律依据。条款和条件 ( https://cdn.icmarkets.com/uploads/FSA/IC+Markets+Terms+&+Condition+FSA.pdf )第 18 页开始的第 11 节涵盖了如何处理明显错误。当您开设帐户时，您就已经同意这些条款。

可以肯定的是，我站在你这边，我不喜欢它......它应该改变 - 经纪人应该被迫为他们的错误承担责任，但就目前情况而言，从法律角度来看，他们的立场是无懈可击的看法。

至于MT4上的合约规范标准，我不知道你是认真的，还是只是发泄一下。作为一名经验丰富的交易者，您应该知道各种经纪商的合约规范中经常存在错误 - 我经常遇到问题。交易者有责任了解他/她所交易的产品的规格。从您帖子的语气和措辞来看，您给我的印象是一位称职的交易员，如果您不知道 2000 美元掉期交易中的错误，我会感到惊讶。

附带说明一下，我还应该指出，您发布的声明不包括任何 2000 美元的交易，因此我们无法确定此项扣除的真正影响。

协议内容无可挑剔，允许IC Markets每当想要扣除客户资金时就可以滥用这一条款

 

[compu-forex]

Ok, much of your reply doesn't make sense, probably due to the need to use an online translator. Let me tell you what my take away is......

1. You seem to be attacking me personally, which is childish - stick to the facts of the case.
2. I have no idea what your point is about XAU and overpayment - it doesn't seem relevant to your case other than to make some point about life not being fair.
3. Yes, it is outrageous that they can claim an error for 2 or 3 months. Again, life is not fair and their Terms and Conditions allow for it. You are not going to be exempted from terms you agreed to because you are a big trader, or because you can make an argument that they are unfair.
4. There are 2 things you need to post here, namely :-

• a full statement showing all your trades but specifically the US2000 trades in question;
• a brief explanation of what law ICM has violated according to your lawyer.

Personally, I hope you succeed with your case at the regulator. Hopefully your lawyer can make a cogent case that 3 months exceeds the standard for a manifest error. It would be nice if the regulator can place limits on manifest error claims.

 

[SU-1107]

I have had a similar experience as you. The broker claimed there were errors in the swap and deducted my funds. I reported the issue to AFCA, and they acknowledged that while the agreement grants the broker discretionary powers, it does not justify their abuse of this right. As a result, I emerged victorious. Therefore, your case has every chance of succeeding with AFCA.

 

[4evermaat]

And I'm a medium to long term trader, generally not too many disputes, because I'm an Asian investor, I usually only in the Chinese site activities, the Chinese site recently appeared a large number of IC complaints, they deducted the agent and the client's money is quite a lot of money, most of them are also in the Chinese site in the complaint, I'm also in the very many Chinese sites to complain about them!

If they have VPN access (from within mainland China), they could post their experience here and upload their evidence. Make sure they complain from their own computer....and their own complaint.

A market maker, a company with more than 1,000 times leverage, doesn't have such a setup for two wrong months.
If his us2000 is wrong for two months, then IC Markets XAUUSD is wrong for one year, because his gold is more swiss qute famous companies like him, IC Markets XAUUSD short orders are underpaid by 10USD a lot, he should take a million dollars a day to compensate his clients, this is a clear mistake that he is underpaying, compared to the liquidity companies! This is a clear mistake of underpayment, compared to liquidity companies, which also underpay by so much!

And yet they did. And IC Markets other misbehavior have been reported on this forum.

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

Many other people don't know any of this. But you do have at least some basic knowledge at the level of trickery cfds will use to capture the clients of deposits [legally].

I have had a similar experience as you. The broker claimed there were errors in the swap and deducted my funds. I reported the issue to AFCA, and they acknowledged that while the agreement grants the broker discretionary powers, it does not justify their abuse of this right. As a result, I emerged victorious. Therefore, your case has every chance of succeeding with AFCA.

@SU-1107 Can you post a new problem thread please?

And upload your AFCA case pdf? Or list the case #?