IC Markets price movement abuse

PipsHunter69

Private
Messages
10
Hello Dear Traders,

I encountered a problem with IC Markets on "BTC/USD" on 05/12/2022.

BTC/USD fell that day from 30,200 to 26,600 on all global charts.

However, IC Markets pushed the price of BTC/USD to 25200.

As the fall progressed, a difference of 1000 USD appeared on the IC Markets chart compared to the world chart, whereas normally the IC Markets charts have exactly the same prices. Several positions of course touched the margin call during this abusive fall appeared on IC Markets


I find this movement abusive, the price of BTC / USD at 25200 on 05/12/2022 does not exist worldwide.

I won my case for the same problem with my former broker, I decided to go to IC Markets to avoid this kind of inconvenience, because it is one of the number 1 on the market and yet it still happened , only at IC Markets.

Thanking you,
Regards
 

compu-forex

Sergeant
Messages
199
Looking at several MT4 brokers, I see prices ranging from $25083 to $25883, so to say the price quoted by IC Markets does not exist worldwide is not true.

BTC is an extremely volatile product and I'm not surprised we see price differences.
 

4evermaat

2nd Lieutenant
Messages
2,331
Hopefully you have learned by now there is a difference between what a broker advertises and how they perform in practice.

Study the company's business model to understand how they are likely to treat their clients.


Also have a look at some previous related cases:


Seems like they made it a little less obvious this time.

-----

If you could upload a screenshot or 2, that would be good.

Also, if you have other friends who were trading around the same time as you were, can you have them open their own scam alert from their own computer/mobile device.
 

PipsHunter69

Private
Messages
10
Looking at several MT4 brokers, I see prices ranging from $25083 to $25883, so to say the price quoted by IC Markets does not exist worldwide is not true.

BTC is an extremely volatile product and I'm not surprised we see price differences.

Which kind of MT4 brokers ? All reliable and decent brokers didn't gone under 26600.

I am working with Investing chart and Tradingview chart, both move exactly at the same price as IC Markets chart.

So how a broker like IC Markets can move the price during the fall with a difference of 1400?
 

RahmanSL

Major
Messages
2,884
Hello Dear Traders,

I encountered a problem with IC Markets on "BTC/USD" on 05/12/2022.

BTC/USD fell that day from 30,200 to 26,600 on all global charts.

However, IC Markets pushed the price of BTC/USD to 25200.

As the fall progressed, a difference of 1000 USD appeared on the IC Markets chart compared to the world chart, whereas normally the IC Markets charts have exactly the same prices. Several positions of course touched the margin call during this abusive fall appeared on IC Markets


I find this movement abusive, the price of BTC / USD at 25200 on 05/12/2022 does not exist worldwide.

I won my case for the same problem with my former broker, I decided to go to IC Markets to avoid this kind of inconvenience, because it is one of the number 1 on the market and yet it still happened , only at IC Markets.

Thanking you,
Regards
This I-See-Bucketshop a.k.a ICMarkets is still playing & up to their same old tricks with creating false spikes in their trading platform to rob their clients.
I have done my fair share in complaining to the ASIC about I-See-Bucketshop a.k.a ICMarkets but to no avail as they informed there is not much they can do without solid & irrefutable proofs.
I read somewhere that one of their CEO Angus has moved to another broker, Global Prime, and probably bringing his bag of tricks with him too. So watch out for the same trick at that broker if you happen to be with them.
You should try to file your complaint to ASIC to see what they can do to put a stop to I-See-Bucketshop a.k.a ICMarkets once and for all.
Good luck!
 

compu-forex

Sergeant
Messages
199
Which kind of MT4 brokers ? All reliable and decent brokers didn't gone under 26600.

I am working with Investing chart and Tradingview chart, both move exactly at the same price as IC Markets chart.

So how a broker like IC Markets can move the price during the fall with a difference of 1400?
I have several MT4 brokers that I use and like, and a simple snapshot(the first 4 that I opened) showed me that your claim about the pricing not existing is incorrect. You would have blown your account at any one of those other brokers as well.

Perhaps, if you are working off Investing chart and Tradingview chart, you should trade with them.
 

PipsHunter69

Private
Messages
10
Hopefully you have learned by now there is a difference between what a broker advertises and how they perform in practice.

Study the company's business model to understand how they are likely to treat their clients.


Also have a look at some previous related cases:


Seems like they made it a little less obvious this time.

-----

If you could upload a screenshot or 2, that would be good.

Also, if you have other friends who were trading around the same time as you were, can you have them open their own scam alert from their own computer/mobile device.

Their platform constantly moves at the same price as the charts I'm studying, it's only during the fall that IC Markets took a much deeper dive, probably going for stop losses and margin calls. But still, 1400 difference is absolutely huge!

Here is a screen of my first position closing in margin call on the abusive price movement.
 

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PipsHunter69

Private
Messages
10
I have several MT4 brokers that I use and like, and a simple snapshot(the first 4 that I opened) showed me that your claim about the pricing not existing is incorrect. You would have blown your account at any one of those other brokers as well.

Perhaps, if you are working off Investing chart and Tradingview chart, you should trade with them.
Is it possible to have these broker name ? I have looked about all the broker that are not rated 1 star to 5, and any of them pushed BTC price to 25K. I have moved to IC Markets in order to avoid these broker with price instability.

I know that several broker with terrible rating are doing this kind of thing, but i would never imagine IC Markets was part of them, this should be one of the most reliable.
 

compu-forex

Sergeant
Messages
199
Is it possible to have these broker name ?
I got into trouble here because I mentioned an unrelated brokers name in a scam thread, so I'm not mentioning names here. I just checked another 3 and again prices ranging from 25.2 to 25.6

If the mods pop up here and tell me it's ok to tell the names, I will be happy to do so.
 

PipsHunter69

Private
Messages
10
This I-See-Bucketshop a.k.a ICMarkets is still playing & up to their same old tricks with creating false spikes in their trading platform to rob their clients.
I have done my fair share in complaining to the ASIC about I-See-Bucketshop a.k.a ICMarkets but to no avail as they informed there is not much they can do without solid & irrefutable proofs.
I read somewhere that one of their CEO Angus has moved to another broker, Global Prime, and probably bringing his bag of tricks with him too. So watch out for the same trick at that broker if you happen to be with them.
You should try to file your complaint to ASIC to see what they can do to put a stop to I-See-Bucketshop a.k.a ICMarkets once and for all.
Good luck!
I had many good reviews about IC Markets, i was not aware of that. I litteraly moved to them to avoid this kind of movement, and it's happened.
 
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