Ic Market scam on Oil transaction

forexteamau

Sergeant
Messages
148
It's definitely a bucket shop. I just wonder how they are able to operate since 2007 after they made horrible things to traders. They are even on news. It's very strange. It's either they have money and buy the relevant Australian authorities or we have corrupt officers in the regularities! Can't be anything else than that!
 

SUNDAY

Recruit
Messages
6
Hi Mate ,

I recently lost almost all my account balance with this broker . They use all sorts of techniques to trade against you. IC claims that they are getting their price feed from variety of liquidity providers .
Probably in east Africa where they are registered.Your transaction log looks fine as evidence
.Don't waste your time with their support if you've said enough. That's how they behave, Ignore your e-mails or reply very late . Go straight with AFCA and ASIC. AFCA cannot punish them but might be able to get your money back. But still there is a conflict of interest .That's a non Gov organisation in Australia but try them first . If you were not successful. I'm from Australia and working on my case with a lawyer so we might be able to join as one case to take legal action.
Let me know if you need help with lodging complaint with those two as first stage.
Cheers.
Hi mate,

I'm ready to join a group of people willing to sue this company IC Market for their market manipulation & fraud. Already file a case against them to AFCA, still waiting for decision. This is very bad for a broker in Australia territory scamming people of their money, the authority should know about their operations
 

forexteamau

Sergeant
Messages
148
Hi mate,

I'm ready to join a group of people willing to sue this company IC Market for their market manipulation & fraud. Already file a case against them to AFCA, still waiting for decision. This is very bad for a broker in Australia territory scamming people of their money, the authority should know about their operations
Hi,
I'm sorry about your loss. Unfortunately this is all ASIC's fault. Many of these brokers are operating from overseas . There is no strict control as long as they pay their annual fees.As for ICmarkets, their Australian regulatory is just an umbrella, in reality you are dealing with Seychelles in Africa or Cyprus.
Did you try to report them to ASIC as well ? I know they will get back to you with nonsense that they will investigate but it is better than nothing.
Currently there are 4 of us. Me ,you ,Tradervn and Vanessa.P. Vanessa joined the thread but I could not hear from Vanessa yet. Here is the thread link
If you found more victims of this broker please invite them here or to my thread. Later if the matter was not resolved with AFCA we can take a group legal action . I don't know if we can get any result from AFCA . Fingers crossed but as far as I know, AFCA is powered by 35000 members who are paying their wages . minimum $55*35000 = Almost 2 million dollar a year. If I were in their shoes I didn't know who's side I should take! A judge is definitely more independent.
 

SUNDAY

Recruit
Messages
6
Hi, thanks for your reply, I received a conformation from AFCA last month about complaints, I was informed tru email that IC market have 1 month to response to me through them and they will let me know what is going during complaint process,but seen then I didn't receive another email or update from AFCA.
I know AFCA can't enforce IC market to compensate or pay back clients money, but I it's better to take a legal action against this company so Australian authority will know what is going on in that country.
I signed up with ic market because I believe its an Australian broker and I know Australia is very strict country against corruption practise. Still waiting for AFCA final response, if good come out of it, I'm really ready to take case to court
 

forexteamau

Sergeant
Messages
148
Sorry I just read your reply here now regarding the complaint process. It's all ASIC's fault . They do not investigate these case properly when misconduct is reported. They are the regulator and responsible.
I think what matters for ASIC is the annual membership fee. Unfortunately regarding the banking insinuation and financial firms ,Australian government bends over here and has no power . Welcome to Australia :) 4 of us now have almost a one million dollar case. please keep us posted about the AFCA response. In the meantime if you see more victims please invite them to join us.
 
Messages
197
didnt expect to hear cush things like this associated with such a well known and popular brand but as others said it is true its ASIC that is repsonsible
 

SUNDAY

Recruit
Messages
6
I will surely direct other people to this tread, because this is unfair to hand working trader, ic market used to be good before, I noticed that after European country leverage limit, all Europe traders move to Australia brokers especially ic market & started to manipulate their platform that use to be ECN to become market maker
Sorry I just read your reply here now regarding the complaint process. It's all ASIC's fault . They do not investigate these case properly when misconduct is reported. They are the regulator and responsible.
I think what matters for ASIC is the annual membership fee. Unfortunately regarding the banking insinuation and financial firms ,Australian government bends over here and has no power . Welcome to Australia :) 4 of us now have almost a one million dollar case. please keep us posted about the AFCA response. In the meantime if you see more victims please invite them to join us.
 

Vanessa.P

Sergeant
Messages
138
 

forexteamau

Sergeant
Messages
148
didnt expect to hear cush things like this associated with such a well known and popular brand but as others said it is true its ASIC that is repsonsible
Christina there are popular because they have cyber army of keyboard worrier. Mostly can hire these guys from Africa where they hold license or Cyprus. No one is going to this dodgy job from Australia because it's expensive and they could get caught eventually. check their forex peace army reviews for instance . FPA detected large number of fake reviews.
 
Top