Problem IC Markets is a true scammer

[NanaR]

For correction, don't name them ICM, name them icmarkets because there are brokers with ICM first name.

Thanks but this thread is titled IC Markets, so... yea people reading should know ICM here refers to them for short. Easier for them to read instead of typing the full name all over.

ps: I cant find the edit button. I wanted to just put the short form on the title, can this be done? So its easier

 

[Ed_Forex]

I know what am writing before posting. You didn't get my point. No broker likes to have their name attached to scam cases.
This thread goes beyond forexpeacearmy main members and site, if you get what I mean.

 

[NanaR]

I know what am writing before posting. You didn't get my point. No broker likes to have their name attached to scam cases.
This thread goes beyond forexpeacearmy main members and site, if you get what I mean.

Thanks but I dont see why or how this would help if only I alone amended mine (I cant edit btw, cant find option). Theres many other threads out there refering to them as ICM too for short under the respective headings too you see... and i am sure those other brokers with same short form or first name will take the appropriate steps to avoid association.

Anyway I am pretty sure we wont get a proper reply or review of the issues/concerns raised on them. All we can do is just watch them keep making more and more mistakes, anger more people and then the vicious cycle will come to an end when they offend the wrong crowd. Should be pretty obvious by now, there is something not right about them.

 

[Ed_Forex]

Actually, icmarkets will continue loving its clients calling it icm. How many scam brokers will get exposed after the swiss annoucements.

They are not bothering to reply too!! Lets wait and see if the scammer icmarkets will reply to your thread.

 

[NanaR]

Actually, icmarkets will continue loving its clients calling it icm. How many scam brokers will get exposed after the swiss annoucements.

They are not bothering to reply too!! Lets wait and see if the scammer icmarkets will reply to your thread.

True. this SNB thing was the litmus test for brokers, i agree. those who honor SL and dont show weird quotes are the honest ones and will stand out among the crowd.

And yea, I am still waiting for them to reply to their absurd claims. So far, they just ignore.

 

[Irishmist]

You certainly don't seem to understand what exactly happened when the SNB gave the market the Big Bang. Quotes on all the broker servers not just IC Markets where lagging. So basically the price was stale. So all the quotes that where filled by the majority of broker platforms where off quotes as they did not reflect where the interbank market was. The majority of the Aussie brokers use integral technology to get access to the ECN liquidity pools. Do yourself a favour & download the historical tickdata from the integral site before you throw accusations at brokers. If integral nullifies the trades you simply cant expect an STP broker to give you that fill.

There will be a lot of lessons to be learnt from this unprecedented 30% market move. This is not in defence of IC Markets or any broker its just simply a fact.

Some brokers like Saxo Bank chose to let the trades to stay simply because the can afford to do so to retain their high networth client base. IC Markets & other Aussie brokers are not as financially well off and can not just follow suit. This is far away from being a scam & more of a technical issue that most probably is being looked into between MT4 Integral & several brokers who use integral STP/ECN technology.

I just felt like putting my 2 cents. So be please before you try to smear a business reputation & open yourself for a liability try & do your homework first

 

[Ed_Forex]

We must thank Mr. 1 post coming to defend icmarkets and ECN/STP brokers because he just proved for all that it's at best a big failure in those brokers system, so the client is irresponsible whatsoever of such bad service. Go solve the problem with your liquidity providers and return clients their money for breaching contracts, not honoring stops.

He also failed to explain how there were brokers who honored stops and they are ECN/STP too. The brokers who did so proved to be reliable, despite the big move, they had smooth updates from their liquidity providers and their system worked right.

 

[NanaR]

True, Ed. Another 1 post member coming to defend icmarkets? Very suspicious indeed though he created account in 2013, he wrote his first and only post for icmarkets. Other aus brokers def handled the matter better.

We must thank Mr. 1 post coming to defend icmarkets and ECN/STP brokers because he just proved for all that it's at best a big failure in those brokers system, so the client is irresponsible whatsoever of such bad service. Go solve the problem with your liquidity providers and return clients their money for breaching contracts, not honoring stops.

He also failed to explain how there were brokers who honored stops and they are ECN/STP too. The brokers who did so proved to be reliable, despite the big move, they had smooth updates from their liquidity providers and their system worked right.

 

[NanaR]

Ok, apparently u dont seem to understand and have just proven is you havent read all the concerns and issues raised by me and the other posters here. Servers apparently not in NY (unlike what they claimed. the other guy is right - already did a check), absurd claims to be only ECN broker in the world, ASIC is their auditor, etc.

You said this "IC Markets & other Aussie brokers are not as financially well off and can not just follow suit." Wow, how do u know IC Markets is not as financially well off? Do you have evidence? If not, you can be "sued" by them for defamation and false information... beware. And also, if they arent that financially well off but giving people 1:500 leverage (back then), that is already a major cause of concern.

I just felt like putting my 2 cents. So be please before you try to smear a business reputation & open yourself for a liability try & do your homework first. That's what we did. We done a lot of homework, raised a lot of queries about things here which do not add up and Sung Choi and the others always "busy" and cant give satisfactory replies. What do you think? This is not the first time they display different prices in ctrader and mt4. last year i already highlighted the issue, and they CANT be bothered! Claim nobody else has that problem etc (the same bull****). If they HAD bothered to fix it then, they would NOT be in this bad situation today. So, who's fault is it now? They kept sweeping all problems under the rug when people reported it earlier and deserve no sympathy.

You certainly don't seem to understand what exactly happened when the SNB gave the market the Big Bang. Quotes on all the broker servers not just IC Markets where lagging. So basically the price was stale. So all the quotes that where filled by the majority of broker platforms where off quotes as they did not reflect where the interbank market was. The majority of the Aussie brokers use integral technology to get access to the ECN liquidity pools. Do yourself a favour & download the historical tickdata from the integral site before you throw accusations at brokers. If integral nullifies the trades you simply cant expect an STP broker to give you that fill.

There will be a lot of lessons to be learnt from this unprecedented 30% market move. This is not in defence of IC Markets or any broker its just simply a fact.

Some brokers like Saxo Bank chose to let the trades to stay simply because the can afford to do so to retain their high networth client base. IC Markets & other Aussie brokers are not as financially well off and can not just follow suit. This is far away from being a scam & more of a technical issue that most probably is being looked into between MT4 Integral & several brokers who use integral STP/ECN technology.

I just felt like putting my 2 cents. So be please before you try to smear a business reputation & open yourself for a liability try & do your homework first

 

[NanaR]

Just for thought.

1. they had massive server issues during July 2014 NFP. price goes way below the TP, but short trade wont close even if i tried to do it manually. Kept getting error message. I was one of the victims back then, went live help saw 40+ people ahead of me... should have taken it as a warning or omen for more bad things to come. but no, listened to friend, and gave them benefit of the doubt. I realise now i should have already reported here and to the regulators back then eh?

Meanwhile, things just kept getting from bad to worse. got out and warned people about them and opened thread here.

2. 6 months++ after the NFP problems, again they have problems. This time, not NFP but SNB. Those who stayed away avoided the ICmarkets SNB problems. Those who didnt, suffered losses: 'Fake margin calls': Forex traders furious after losses

I would not be surprised if 6 months++ later you see some more "problems".