IC Market Scam Alert!!!

[liam9587]

This morning I woke up with my account been blown off overnight out of my watch.
Then I had a live chat, and here is what their response:



So the excuse they give is because the French election is coming and leverage has been dropped. The time I had this conversation is 6.30am UTC +7 Friday, which is the morning of 2 days before event, and I never heard any brokers intent to drop the leverage 1 WORKING DAY before event to "protect their clients".

In the photo below, A is the time when I go to sleep and B is the time when I wake up in find out such surprise. I trade purely on USDJPY pair.

My account detail with leverage after having the live chat, the leverage still the same.



The losses causing by margin call


Any comments or advice are appreciated.

 

[500pipsaweek]

How unethical my god! and i had them very high on my list but not anymore.. Please go ahead and request full compensation and take this matter to ASIC if they are not cooperative this is pure robbery thanks for posting all the best to you.

 

[liam9587]

How unethical my god! and i had them very high on my list but not anymore.. Please go ahead and request full compensation and take this matter to ASIC if they are not cooperative this is pure robbery thanks for posting all the best to you.

Still waiting for their response before any necessary further steps. Thank you for your support.

 

[aariapoor]

Yeah, they sent the notice of changing the leverage and it caused me closing many of my positions with losses to free more margin.
It reduced my margin level near to 2.88 times
Before the adjustments I complained about it and they said it's our first time doing this.
I hope they stop being like other cheapskate brokers, if not I will change my broker ASAP.

 

[liam9587]

Yeah, they sent the notice of changing the leverage and it caused me closing many of my positions with losses to free more margin.
It reduced my margin level near to 2.88 times
Before the adjustments I complained about it and they said it's our first time doing this.
I hope they stop being like other cheapskate brokers, if not I will change my broker ASAP.

I did not receive any notification about changing leverage except their daily confirmation email. You sound accepted the way they take your hard earn money away?

 

[IC Markets]

This morning I woke up with my account been blown off overnight out of my watch.
Then I had a live chat, and here is what their response:

View attachment 31712

So the excuse they give is because the French election is coming and leverage has been dropped. The time I had this conversation is 6.30am UTC +7 Friday, which is the morning of 2 days before event, and I never heard any brokers intent to drop the leverage 1 WORKING DAY before event to "protect their clients".

In the photo below, A is the time when I go to sleep and B is the time when I wake up in find out such surprise. I trade purely on USDJPY pair.
View attachment 31713
My account detail with leverage after having the live chat, the leverage still the same.

View attachment 31715

The losses causing by margin call
View attachment 31716

Any comments or advice are appreciated.

Dear Liam,

We are sorry to hear the leverage restrictions have led to margin call on your account, however we can assure you that we have acted in the best interests of our clients. Please note all reputable brokers have taken these measures to protect clients from potentially very adverse trading conditions surrounding the upcoming French election.

Large market gaps that are likely after an event such as the French presidential election can often cause great losses for traders, hence we have taken proactive action to prevent our customers from potentially losing a significant portion of their account balance.

We have tried our very best to ensure all clients are aware of these changes. We have sent emails to all clients individually, a notification was sent to the MT4 mailbox and our Website has been fully updated to reflect all changes.

 

[500pipsaweek]

Dear Liam,

We are sorry to hear the leverage restrictions have led to margin call on your account, however we can assure you that we have acted in the best interests of our clients. Please note all reputable brokers have taken these measures to protect clients from potentially very adverse trading conditions surrounding the upcoming French election.

Large market gaps that are likely after an event such as the French presidential election can often cause great losses for traders, hence we have taken proactive action to prevent our customers from potentially losing a significant portion of their account balance.

We have tried our very best to ensure all clients are a

Dear Liam,

We are sorry to hear the leverage restrictions have led to margin call on your account, however we can assure you that we have acted in the best interests of our clients. Please note all reputable brokers have taken these measures to protect clients from potentially very adverse trading conditions surrounding the upcoming French election.

Large market gaps that are likely after an event such as the French presidential election can often cause great losses for traders, hence we have taken proactive action to prevent our customers from potentially losing a significant portion of their account balance.

We have tried our very best to ensure all clients are aware of these changes. We have sent emails to all clients individually, a notification was sent to the MT4 mailbox and our Website has been fully updated to reflect all changes.

The money was simply ripped away from the client to your convenience it is very apparent that the french election excuse has been a great gift to you there's a huge party going on these days at many brokerages for similar cases if the client was not informed by email or if the email never arrived for whatever purpose he should be entitled to full recompensation the good thing with these incidents is that potential future investors that had you high up on their list are now notified and they can make up their mind the impact for IC Markets in the long term will undoubtedly be high as this thread is here to stay. Best Regards

The money was simply ripped away from the client to your convenience it is very apparent that the french election excuse has been a great gift to you there's a huge party going on these days at many brokerages for similar cases if the client was not informed by email or if the email never arrived for whatever purpose he should be entitled to full recompensation the good thing with these incidents is that potential future investors that had you high up on their list are now notified and they can make up their mind the impact for IC Markets in the long term will undoubtedly be high as this thread is here to stay. Best Regards

 

[liam9587]

Dear Liam,

We are sorry to hear the leverage restrictions have led to margin call on your account, however we can assure you that we have acted in the best interests of our clients. Please note all reputable brokers have taken these measures to protect clients from potentially very adverse trading conditions surrounding the upcoming French election.

Large market gaps that are likely after an event such as the French presidential election can often cause great losses for traders, hence we have taken proactive action to prevent our customers from potentially losing a significant portion of their account balance.

We have tried our very best to ensure all clients are aware of these changes. We have sent emails to all clients individually, a notification was sent to the MT4 mailbox and our Website has been fully updated to reflect all changes.

Fun fact is that I did not receive any emails nor notifications about such major & crucial adjustment from IC Market, and trust me, I have legal proof on that. In this case IC Market changes leverage without notification, leave clients zero preparation. Giving excuses and avoiding responsibilities is definitely never suitable for long term business. Dont make this issue becomes more complicated and getting worse, and trust me I wont give up on my money being taken away with such unacceptable cause.

 

[Darshana Guruge]

I received the notification. Few days before the change.

 

[liam9587]

I received the notification. Few days before the change.View attachment 31830

Good for you, what about those who did not get any notification or by somehow the notification never can reach them?