Problem Crunch time! My case with ICMarkets

[RahmanSL]

Hello @IrishMist a.k.a whatever

 

[RahmanSL]

I would like to point out one other important fact. ICM has stated at least two different margin level figures on my trading account 317165 before account instantaneous and complete stop/wipe-out.
Was that another example/instances of irrefutable evidence/information from some more inexperience ICM staff?

Since ICM has stated that it’s now impossible to get comparison tick charts of different brokers to established that spike did occurred at the material date & time and not only on ICM server, that puts the authenticity of what ICM has presented as supposition and even hearsay.

My supposition and theory on how my ICM account#317165 was wiped out so swiftly and without any margin call warning, forced closures of largest to smallest losing positions, and then complete stop-out:

On a 1:500 leverage, if the leverage is reduced by 100…i.e. to 1:400…on an account with 256% (as claimed by ICM) margin level, that would instantly reduce the account margin level by 51.20% leaving 204.80%.
If the leverage is reduced to 1:100 or lower, that would instantly reduce the account margin level to 0.00% or negative margin level which will instantly cause the account to be stop/wipe-out with absolutely no time for margin-call, forced closures of largest to smallest losing positions, and then complete wipe-out with negative balance.
For those who are not use to or have no experience in MC and stop-out, try that out on a Demo trading account and it will become crystal clear.
Further on with my supposition and theory, I believe one of ICM inexperience staff reduce my trading account margin level but, as in the case of that other broker Enfinium, either A) there was no training for persons who had the ability to modify the Virtual Dealer, B) employees (of ICM)had access to enter, modify, close and delete orders on MT4 without secondary authorization…but I think that ICM staff also made the fatal mistake in over reducing my account 317165 leverage at the wrong time just as there was sudden market movement on the USD/CAD which, instead of initiating a margin call and/or some forced closures of largest losing positions, went instead into instant account wipe out as the margin level instantly dropped to negative -27.1%.

If a client asked for irrefutable proof that certain widen spread did occurred on certain date & time, for a long established and regulated broker like ICM, it would and should be a very simply thing to do by presenting the tick charts of various brokers for comparison. So, why didn’t ICM provide me with or at least direct me to a site (as ICM Head of Trading Desk - Angus Walker has so kindly did for me) to check for irrefutable proof of widen spread/spike on as many brokers as I wish???
I can only think that’s because ICM has to cover their inexperienced staff mistake and so start a merry-go-round process in swamping me with obvious data/records and “the why, how, & when” lectures which my feeble brain….that only had Business Management, Accounting II, and Microeconomics education at a U.S university….couldn’t comprehend what all that got to do with my key and main issue at hand…which is, show/provide me with irrefutable proof that widen spread did happened on USD/CAD on that material date & time.

Now, it’s my turn to ask ICM: Is that what really happened or am I close enough to the truth?

I am also wondering how many of my multiple ICM account stop/wipe-out was caused by or partially caused by some incompetent ICM staff tinkering behind their back-office!

But how to find proof for ICM incompetent staff unethical manipulation and misdeeds?
The obvious answer would be ASIC as their staff has the experiences and knowledge gained from dealing with cases on brokers like Enfinium and other brokers, and financial institution/companies.
As a matter of fact, the case I was going to submit has already been made out here and if ASIC would agree to come here to read this thread/post at the FPA, they should find sufficient causes to initiate an investigation into ICMarkets operation.
Who knows? Perhaps ICM might beat Enfinium’s record of 271 occasions of Virtual Dealer changes on their clients’ trading accounts.

 

[Pharaoh]

Rahman, I'm here to provide irrefutable evidence that the liquidation on your account was correct. This is not the recommended course of action for any client seeking mediation by an independent third party as FPA it is not independent, this forum and any decision made in it is non binding and there is a distinct conflict of interest between all parties.

It is true that FPA decisions are non-binding. I do find it strange that you claim the FPA isn't independent, especially in light of something you said a few posts later:

Can someone from FPA interject?

I'd consider adding more feedback at this time, but the thread is getting longer as I type this, so anything else I say could become irrelevant before I get it posted, other than this:

As it stands the information provided by IC Markets and myself on this thread would win a case in FOS, I would confidently take it to court. What would you take to court? You can't take theories and ideas,you need evidence, something you still havent provided.

Yo Rahman! Sounds like Angus issued a challenge and thinks your evidence is insufficient. Then again, in front of the FOS, ASIC, or in a court, ICM would also be fully obligated to provide evidence.

 

[Angus Jon Walker]

Yo Rahman! Sounds like Angus issued a challenge and thinks your evidence is insufficient. Then again, in front of the FOS, ASIC, or in a court, ICM would also be fully obligated to provide evidence.

Pharaoh, haven't I already provided evidence?

Unless I'm mistaken Rahman hasn't provided any evidence to support his claims?

 

[Angus Jon Walker]

I'd consider adding more feedback at this time, but the thread is getting longer as I type this, so anything else I say could become irrelevant before I get it posted, other than this\

Are you able to comment on the information provided, the calculations and so on?

 

[RahmanSL]

Pharaoh, haven't I already provided evidence?

Unless I'm mistaken Rahman hasn't provided any evidence to support his claims?

You apparently forget that I am or was ICM client and ICM is supposed to provide me irrefutable evidence to prove that they did not have some inexperience staff manipulating my trading account at their back office to initiate a phantom spread widening claim which no other brokers seems to have at the material date & time.

You really are as arrogant and pompous, as has been mentioned about you by some parties, which is most unbecoming of a service broker representatives.
This is what clients of ICM can expect from ICM when they have issues with their trading accounts.

 

[Angus Jon Walker]

I would like to point out one other important fact. ICM has stated at least two different margin level figures on my trading account 317165 before account instantaneous and complete stop/wipe-out.
Was that another example/instances of irrefutable evidence/information from some more inexperience ICM staff?

Prove it.

Since ICM has stated that it’s now impossible to get comparison tick charts of different brokers to established that spike did occurred at the material date & time and not only on ICM server, that puts the authenticity of what ICM has presented as supposition and even hearsay.

No. This only means you can't prove spreads didn't widen during the news for the first time ever.

My supposition and theory on how my ICM account#317165 was wiped out so swiftly and without any margin call warning, forced closures of largest to smallest losing positions, and then complete stop-out:

On a 1:500 leverage, if the leverage is reduced by 100…i.e. to 1:400…on an account with 256% (as claimed by ICM) margin level, that would instantly reduce the account margin level by 51.20% leaving 204.80%.
If the leverage is reduced to 1:100 or lower, that would instantly reduce the account margin level to 0.00% or negative margin level which will instantly cause the account to be stop/wipe-out with absolutely no time for margin-call, forced closures of largest to smallest losing positions, and then complete wipe-out with negative balance.

LOOK AT THE COMMENT SECTION OF THE FIRST STOPPED OUT TRADE!!!!

so: -27.1%/-13.9/51.3

The $51.3 is the used margin. This is $0.10 off my calculation in the spreadsheets I have posted! If it was 1:100 leverage then the margin would be approximately $255.08.

You have this information in your screenshots and statement so you can't say the internet boogeyman came and changed the comment section just like they took the logs from your computer!

Now, it’s my turn to ask ICM: Is that what really happened or am I close enough to the truth?

I'll let you digest the information above first....

But how to find proof for ICM incompetent staff unethical manipulation and misdeeds?
The obvious answer would be ASIC as their staff has the experiences and knowledge gained from dealing with cases on brokers like Enfinium and other brokers, and financial institution/companies.
As a matter of fact, the case I was going to submit has already been made out here and if ASIC would agree to come here to read this thread/post at the FPA, they should find sufficient causes to initiate an investigation into ICMarkets operation.
Who knows? Perhaps ICM might beat Enfinium’s record of 271 occasions of Virtual Dealer changes on their clients’ trading accounts.

Again, I'll let you digest the information above first....

 

[RahmanSL]

Prove it.

No. This only means you can't prove spreads didn't widen during the news for the first time ever.

LOOK AT THE COMMENT SECTION OF THE FIRST STOPPED OUT TRADE!!!!

so: -27.1%/-13.9/51.3

The $51.3 is the used margin. This is $0.10 off my calculation in the spreadsheets I have posted! If it was 1:100 leverage then the margin would be approximately $255.08.

You have this information in your screenshots and statement so you can't say the internet boogeyman came and changed the comment section just like they took the logs from your computer!



I'll let you digest the information above first....

Again, I'll let you digest the information above first....

**NB: Reserved for reply

 

[Angus Jon Walker]

You apparently forget that I am or was ICM client and ICM is supposed to provide me irrefutable evidence to prove that they did not have some inexperience staff manipulating my trading account at their back office to initiate a phantom spread widening claim which no other brokers seems to have at the material date & time.

Can you please provide one bit of information that would suggest that this happened or that our platform behaved differently to other brokers during this news release?

 

[RahmanSL]

Prove it.



No. This only means you can't prove spreads didn't widen during the news for the first time ever.



LOOK AT THE COMMENT SECTION OF THE FIRST STOPPED OUT TRADE!!!!

so: -27.1%/-13.9/51.3

The $51.3 is the used margin. This is $0.10 off my calculation in the spreadsheets I have posted! If it was 1:100 leverage then the margin would be approximately $255.08.

You have this information in your screenshots and statement so you can't say the internet boogeyman came and changed the comment section just like they took the logs from your computer!



I'll let you digest the information above first....




Again, I'll let you digest the information above first....

**NB: Reserved for reply