BE CAREFUL WITH IC MARKET!

lee1511989

Recruit
Messages
3
Hi Guys,

Related to Gold down spike which wipes my long position on Gold (Picture) and that also stops out many positions of my trade that 26 March 2020 (see pictures), caused my balance negative for more than 3 days.

They only refund for the original capital of Gold trade, blame it on Liquidity Provider, other trades stopped out they do not care, this, this kind of treatment means:

- Be careful with your money when you chose them, they could use these tricks to wipe your unrealized profit and refund only original capital and they said they are fair and transparent.
- Your balance is negative for a few days, there is a huge opportunity cost here like mine (See the picture, My trade up 400 pips since my entry that day).

They sent an email back and said they are "amicable" and offer me 50$.

Be wise to put your money into this broker.
 

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4evermaat

2nd Lieutenant
Messages
1,972
They sent an email back and said they are "amicable" and offer me 50$.

The "fake spike" was actually a real error from the LP. But you should insist that they should return your trade to pre-spike condition.

Reply back and make a formal complaint.
 

OldManIan

Private, 1st Class
Messages
29
Hi Guys,

Related to Gold down spike which wipes my long position on Gold (Picture) and that also stops out many positions of my trade that 26 March 2020 (see pictures), caused my balance negative for more than 3 days.

They only refund for the original capital of Gold trade, blame it on Liquidity Provider, other trades stopped out they do not care, this, this kind of treatment means:

- Be careful with your money when you chose them, they could use these tricks to wipe your unrealized profit and refund only original capital and they said they are fair and transparent.
- Your balance is negative for a few days, there is a huge opportunity cost here like mine (See the picture, My trade up 400 pips since my entry that day).

They sent an email back and said they are "amicable" and offer me 50$.

Be wise to put your money into this broker.
Maybe you should check out this thread:
 

The Reaper of F

Sergeant
Messages
198
Hi Guys,

Related to Gold down spike which wipes my long position on Gold (Picture) and that also stops out many positions of my trade that 26 March 2020 (see pictures), caused my balance negative for more than 3 days.

They only refund for the original capital of Gold trade, blame it on Liquidity Provider, other trades stopped out they do not care, this, this kind of treatment means:

- Be careful with your money when you chose them, they could use these tricks to wipe your unrealized profit and refund only original capital and they said they are fair and transparent.
- Your balance is negative for a few days, there is a huge opportunity cost here like mine (See the picture, My trade up 400 pips since my entry that day).

They sent an email back and said they are "amicable" and offer me 50$.

Be wise to put your money into this broker.
The spike was a real error resulted from the liquidity providers. I'd been in conversation with Credit Suisse and many other primes about it not long ago, and it was indeed their fault to begin with. Furthermore, you should be wary that IC Markets endorse zero negative balance protection in the case of you being fully wiped out by some sort of crash in the future. Also, IC Markets are famed for its delays in withdrawals, stop-loss hunting (As anointed by the many users here in FPA), unintentional server crash, orders not being filled at time of execution and many more.

This should serve as a precautionary ground rules as to not sign up with them nor continuously trading with them either way. I don't care what they have to say about this unless they actually took the liberty to step their foot into FPA and solve some of the existing issue here. Having said that, some of the bucketshop, if there are kind enough, they would actually absolve any negative balance to have you continuously depositing aka trading. Another note for you to take notice of.
 
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