IC Markets - perfect legit scam

Cld_trade

Private
Messages
14
IF able, please can you upload a complete statement. It is unclear what the exact problem is. Looks like they had a pricing error on a trade and when they voided the trade(profit) it caused a stopout? Were the stopped out trades correctly priced, or was there a problem with them? Also you need to be specific about the date. Are we talking 28th February? or 19th. Comparing with other brokers the price move of around $83(28th) seems to match. Please can you provide a screenshot of the move at IC Markets that is not mirrored at other brokers?

I see in your email you claimed price manipulation. Please can you expand on this.

A couple of thoughts from my side :-

1. I am not familiar with MT5 but my thoughts are to stay away from it. There are clearly still problems with it. Did you download and update MT5 when instructed and did it fix the problem? I won't try defend the broker in this respect but they are not wrong when they point out that it is third party software. It's not great but unfortunately they have a level of deniability when it comes to technical issues with the platform. Reduce the risk by going with MT4 instead and you will find it doesn't happen often..........
2. Please can you expand on the issue with the swaps? Same for the spreads.....have you calculated the spread that your pending trade was activated at, and how much was it?
3. System error.......here you have a valid gripe, but it will get you nowhere. Manifest error is the term they use in their email and it drives me crazy. I might even start a thread dedicated to manifest error. Unfortunately this is common to all brokers, so you will have this risk no matter where you go. As you have seen it is also covered in their T&C so we agree to accept it. I just feel a broker should be responsible for any contract errors. I had a broker lift 5000 euro off me early this year because they made a cock up.
4. It is unclear if they have closed your account or not? Your last post suggests it was closed on 24th April but the agreement you have with them on 29th April says they will pay into your MT4 account?? I would point out that it is not unreasonable for a broker to terminate your account if you litigate. The decision to escalate the matter points to a repudiation of the terms and conditions.

I generally don't buy into complaints about swaps, spreads and so on but the manifest error on their part was serious and, if the world was fair, they should bear the consequences for their balls-up. The authorities need more complaints in this respect but I guess you have made a decision in this respect. Sometime a bird in the hand, and all that. Well done in getting some form of compensation from them.
It hasn’t been closed on 24th but it has been closed recently or disabled or inactive.
I’m not even sure of what they did but this happen after I started posting
 

forexteamau

Sergeant
Messages
141
It hasn’t been closed on 24th but it has been closed recently or disabled or inactive.
I’m not even sure of what they did but this happen after I started posting

They usually deactivate non active live trading accounts after a while but I'm not sure if they can restrict your access to their login area on their website. If you account has been restricted or closed, contact their live chat ask for the reason and send a copy of your transcript to you e-mail.
 

4evermaat

2nd Lieutenant
Messages
1,953
It hasn’t been closed on 24th but it has been closed recently or disabled or inactive.
I’m not even sure of what they did but this happen after I started posting

You really should have a complete trading statement. This is the easiest type of receipt to have.


Or at least have the emailed statements. The monthly statements should do (up to the last month. Then the daily statements can be used). All of this is in the guide, if you bothered to read it.
 
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