Problem Crunch time! My case with ICMarkets

[RahmanSL]

I'm probably going to regret this but I have to ask,I noticed you seem to be trading micro lots so how many positions were open to make a total of 6 lots at the time of the stop out?

You obviously still cannot grasp and nor do you understand the crux of my problem.
Read and understand and then, and ONLY then, jump in the conversation.

 

[RahmanSL]

Perhaps I have not been too clear on my issues with ICM.

I don’t recall disputing ICM very nice, neat, and beautiful calculations on account balance, equity, & margin levels. BUT that is the result of and NOT the root cause for account#317165 instantaneous/immediate stop/wipe-out
The root cause of account#317165 instantaneous stop/wipe-out was the widening of spreads claimed solely by ICMarkets which seems to have happened ONLY at ICM back-office server and with no other ASIC regulated broker.

In the very early days of my issues, ICM Support (including their Team Leader and Head of Dealing Desk) had every opportunity and resources to provide irrefutable proof that the widening of spreads did occurred and NOT limited to ICM server. BUT, and on ICM Head of Dealing Desk own public admission, ICM Support staff (including the senior Team Leader) were inexperience in handling their client’s issues and problems which result in my believing, and still do, that ICM is a Bucketshop broker.

 

[RahmanSL]

As long as ICM cannot provide me irrefutable proof with tick charts from different ASIC regulated brokers to conclusively prove once and for all that the USD/CAD did have widen spreads on the material date & time, I will maintain my suspicion and conviction that ICM is the ONLY broker with widen spread on that material date & time to cause instantaneous stop/wipe-out of my trading account 317165 without any margin call, forced closures of largest to smallest losing positions, before the final stop/wipe-out.

Records of my 14 (at least) stop/wipe-out of my account 317165 with them since Mar 2014 conclusively and irrefutably prove that the last two account stop/wipe-outs (i.e. 4 & 5/Mar/2015) are most abnormal/very strange from the other 12 account stop/wipe-out which strongly imply/suggest that some type of ICM manipulations was going on at ICM back-office.

16/Sept/2014 - 1A Stop-out start at 79.6% margin level
26/Sept/2014 - 2A Stop-out start at 79.4% margin level
26/Sept/2014 - 3A & 3B Stop-out start at 79.3% & 79.2% margin level
5/Nov/2014 - 4A Stop-out start at 76.6% margin level
7/Nov/2014 - 5A Stop-out start at 56.9% margin level
11/Nov/2014 - 6A Stop-out start at 79.3% margin level
20/Nov/2014 - 7A Stop-out start at 78.1% margin level
20/Nov/2014 - 8A Stop-out start at 73.5% margin level
27/Nov/2014 - 9A Stop-out start at 79.4% margin level
9/Jan/2015 - 10A Stop-out start at 71.0% margin level
23/Jan-2015 - 11A Stop-out start at 61.6% margin level
23/Jan/2015 - 12A Stop-out start at 56.2% margin level
4/Mar/2015 - 13A Stop-out start at 55.4% margin level…then became weird with negative -113.8%, and -435.6% margin level.
5/Mar/2015 - 14A Stop-out start at -27.1% margin level

Forgot to mention that account#317165 is not ECN but STP and so, maybe, ICM makes money when I lose money and lose money when I make money.
Manipulation of my trading account seems to have started when I began withdrawing some profits money from account 317165 and, very possibly, ICM didn’t like that too much 

Is ICM a scam broker?
Scam broker; NO! Bucketshop broker, YES!...and, as such, Traders using them are advised to be weary and cautious in dealing with them.

 

[Kerobokan]

You obviously still cannot grasp and nor do you understand the crux of my problem.
Read and understand and then, and ONLY then, jump in the conversation.

I see,that bad is it that you won't even answer my question?

 

[RahmanSL]

When a very senior ICM manager (below email) call their client a “liar” and then “rubbish” their client’s issues ( in post#56) that is very unbecoming, and highly unprofessional & unethical practice of an ASIC regulated broker who is obligated to resolve their client’s issues & problems (no matter how difficult that may be) with the utmost professional and ethical business practices.
ICM clearly does not practice any of the above good business practices and ethics and, in fact, resorted to battering & bullying their client into submission and acceptance of their “run-around-facts” which they insist as final and irrefutable truths and proof to their client’s issues and problems.

ICM conveniently ignore their client’s main issues & claims and would not provide critical & key evidence which they could very easily have submitted/provided these irrefutable comparison tick charts....as clearly demonstrated by ICM Head of Dealing Desk submitting sample comparison tick charts (not from 5/Mar/2015) from ICM and 3 other ASIC brokers.....from the very beginning of my issues with them, but brush these key/critical evidence aside as immaterial and irrelevant to the issues at hand.

Mon, Aug 10, 2015 at 4:47 PM
Hi Rahman,
I responded to your FPA posts…
You are providing misleading information to FPA users in your posts and we want it to stop. You are literally lying and skewing the facts by only writing vague information so as to not be proven wrong by other traders. I can’t write specifics about your account, I can only elaborate on information which you have already provided. Why don’t you post the facts so FPA users can make up their own mind?
Kind regards,
Angus Walker | Head of Trading Desk | IC Markets

 

[dkami]

Missing files that would provide quite a bit of proof for one side of the other of this argument. Sounds like a good plot to a mystery novel to me.

Of course, ICM could always produce those trade receipts - if they ever existed.

ICM provided the trade receipt for the 1st s/o trade so I guess they have them all

 

[dkami]

I see,that bad is it that you won't even answer my question?

RahmanSL in post 24 confirmed this!

29 buy trades all 0.1lots
31 sell trades all 0.1lots

 

[dkami]

ICM conveniently ignore their client’s main issues & claims and would not provide critical & key evidence which they could very easily have submitted/provided these irrefutable comparison tick charts....as clearly demonstrated by ICM Head of Dealing Desk submitting sample comparison tick charts (not from 5/Mar/2015) from ICM and 3 other ASIC brokers.....from the very beginning of my issues with them, but brush these key/critical evidence aside as immaterial and irrelevant to the issues at hand.

Do you have the tick data from ICM and 3 other brokers on 5/3/15, if so please post it?

I don't or I would post it but it's defiantly not uncommon to have a 7pip spread during news which in my mind is quite reasonable, hell I have see 20+pip spread during news when I have been testing out different brokers!

 

[riviera]

Are there any brokers globally who currently provide this spread data by default? This being the case please name one.

Pardon my intrusion but I know now of which side is the bad faith.

Globalprime :
https://www.globalprime.com.au/forex/trading/transparent-trading/

JFDbrokers :
https://www.jfdbrokers.com/why-jfd/agency-model.html

 

[Kerobokan]

RahmanSL in post 24 confirmed this!

29 buy trades all 0.1lots
31 sell trades all 0.1lots

60 open trades on a USD $5,500 account?SMH!!!
Firstly,let me give you some free trading advice right now from a professional,nobody can possibly manage 60 open trades and your screen will look like a spider's web,I've seen it before with total rookie traders that panic and just keep clicking the button.Take the highest buy and the lowest sell,then delete all other trades,your loss will be exactly the same but you will be left with one manageable hedge,from here you have three choices :
1.) Close the hedge/both positions
2.) Add extra margin to the account and wait for the market to reverse in the direction you want it to and run up or down through the hedge.
3.) Try to get out of the hedge (not really recommended but hey,you might get lucky!)