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IC Markets is a true scammer

Discussion in 'Scam Alerts' started by NanaR, Nov 28, 2014.

  1. NanaR

    NanaR Corporal

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    Looks like our initial assumption that icmarkets was indeed getting staff or paid reviewers to post 5 star glowing reviews to offset the low ratings genuine victims gave them, is indeed true.

    Thanks to forexpeacearmy for removing Joshi ratings ICMarkets.com | Forex Brokers Reviews | Forex Peace Army. Apparently, he is an Indian staff of icmarkets since he writes from the staff email, yet pretends to be a retail trader like us in other forums too, and will keep singing their praises and saying how excellent wonderful and unparallelled they are... and even lied about how he and his friends got "readjusted" for SNB losses even before the newspaper article was published on them (when nobody else got readjusted and whining in forums)?

    Yet he was also unable to post any proof or provide screenshots to prove he indeed had adjustments before January 29. He was also very defensive in the other forums and singled out people who had valid arguments against icmarkets which led to suspicion he has vested interest in this brokerage, which turns out (lol) to be indeed TRUE lol.

    Would a genuine really honest broker need to do this? See? They are definitely SCAMMERS. If you are a victim, report to ASIC and Scamwatch! Alert the authorities so they can put an end to their scammy ways.
     
    The Reaper of F likes this.
  2. undertaker

    undertaker Sergeant

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    OMG, I always think this broker is good, I think I was misunderstood.
     
    The Reaper of F, scream007 and NanaR like this.
  3. NanaR

    NanaR Corporal

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    Yea thats the problem. We read that all the excellent 5 stars review and stupidly believed those were genuine, signed up to trade and end up being conned by their "tricks".

    Lesson going forward: Dont believe all excellent 5 star reviews on any broker. There is NO perfect broker in this world, so if a review says that, its definitely fake!
     
    The Reaper of F likes this.
  4. psunardi

    psunardi Corporal

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    did asic reply your email ?
     
  5. NanaR

    NanaR Corporal

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    Still waiting. Btw, I think better we continue with the progress made in private and only post end results. I know icmarkets has staff watching our threads here and in other forums too daily ;) though they refuse to get involved in thread. Why give them heads up on what we have? I rather that they dont know what else I have up my sleeve hah.

    Dont let the enemy know what your cards are, bro.
     
    The Reaper of F likes this.
  6. psunardi

    psunardi Corporal

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    any new update ??
     
  7. RahmanSL

    RahmanSL Major

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    Yes, is there any updates and progress on your issues & problems with this bucketshop ASIC regulated broker??
     
  8. anonymousstout

    anonymousstout Recruit

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    i have been for months looking for a true ECN broker that doesnt ask for 10000 dollars min deposit. I thought about IC markets but since you are still waiting for a resolution im not sure.
     
  9. Icmarkets isacon

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    i too am collecting footage to present in court there manipulation of price is trerrible and there is 0 ways to make any money complete con job i like like the way if you open any deal up or down it just gos the other way to the pip is a joke that thay have any customers got too laugh i will show this in court at some point people could not be that unlucky over and over again
     
    The Reaper of F likes this.
  10. El Jefe

    El Jefe Recruit

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    Hey there... how is the progress with your issue. Funny thing, I am experiencing the same issues and had always wondered why my orders majority of the time moves the opposite way. Its usually the opposite movement of any orders in a normal market or a halt plus a quick up down OR down up tick in a trending market... Most of the time, trading on IC, I would barely be in the money before the price starts moving in the opposing direction. Before you know it, you be in a negative position. At times, as the market apparently moves further into the negative zone, you soon realise your free margin once touched negative balance are almost impossible to return back to positive rendering it impossible to hedge a deepening losing position. Even when the market takes a breather and a retracement is in effect, somehow the free margin balance never leaves the negative zone. Soon, you be so deep in the negative that the only way to save your position is to top up cash or clear your losing position yourself. This happens not all the time but a good 2 out of 3 times I would say, maybe even 4 of 5 times. It happens so frequent that you tend to question everything, as you mentioned "at some point people could not be that unlucky over and over again." That is scenario no. 1. Than there is the most common scenario where any orders submitted and executed would result in price moving the opposite direction maybe 19 out of 20 times. That is scenario no. 2. But my all time best scenario no. 3 however is the classic of them all which occurs maybe 7 out of 10 times where as soon as my positions are cleared or in some cases the entire positions systematically cleared, out of a sudden, a trending and a solid price movement could actually take on a twist and starts to finally turnaround and move on the favourable direction. By then its either half position cleared or entire thing wiped out. How can such a trend be when at important points the price movement somehow neglects to show any solid re-tracement, but managed to turnaround at a point of no significance other than being a point where my positions are being wiped out. It just makes no sense. Time and time again. This systematically manipulated or ill intended conflict of interests methods happens too frequent that even observers whom are non traders would actually realise of such a bizarre re-occurrence happening a few times daily. Scenario 4 - Best Yet... as nearing to the smart stop level, I would suddenly decide to deposit cash and somehow, CASH is KING, it managed to slow down the charging of a trending price to even somehow change the direction of a charging price, but that would be when my deposits would result in me having positive free margin. In cases where free margin is still in negative region, the deposits would the very least slows the charging of a price trend or sometimes halt the charge and price would suddenly move sideways for small period of time before assuming its charge. Weird but this kinda stuff happens with me on IC. Scenario 5 - Im deep in a losing position after having to 4 or maybe 5 or even 10 fold my original position. Price charging towrds the opposite end and everything is negative, my position including my free margin balance. The trend seem so strong that after 2 failed retracement, decided to exit positions after trend continue on breakout support/resist. Bare in mind it was already on trend movement and in no normal way should it retrace back to the opposite direction, meaning the 2nd breakout was successful and upon exiting I take on the trending position and guess what. As I enter into the trending position, the price stop moving through its original movement and went on the opposite direction almost immediately. Impossible impossible impossible. Scenario 6 - each price entry, suddenly becomes a support and resistance line no matter where and when you enter, they somehow manage to make entered position be a pivot point somehow or rather. I.e. as price move downwards towards my price, it somehow do a rebound on my position price... there are more questionable incidents and occurrences I am experiencing everyday, and so all of the occurrences have zero advantage for me and all of it have only 1 thing in common, to handicap me and wipe all my current position eventually.

    No one can be so unlucky. My winning positions are almost always during market normal hours. The minute the market goes into after hours or anytime outside market hours, I would 9 of 10 times end up losing. I admit that sometime loses are purely my very own mistakes, but most of the ones that are not (9 of 10 times) are due to the scenarios above that does not make any sense at all. Especially after almost a year using their platform and big money losses... There is nothing worse of a feeling vs result in a lost no matter how or what positon you take.

    I need advise on dealing with this matter. What should I do, and what can I do from now on. I have no recordings or screen shot as yet, but do intend to get to the bottom of this and I want to make sure I get my money back if found any hanky panky done against myself. There is also a typo offering an 8 point max spread for HongKong CFD's documented in their website but in reality offers a 10 point spread and so consistent that it remains @ 10 points all day through and never drops. Ive brought the issue to their CR and they cooly disregard my plea for them to honor their publication fees for HK in which had me signed up in the first place.

    Please anyone, please advice me on how I could get even through the legal system.
     
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