IC Markets - problem with frozen and delaying of quote

ntk98

Recruit
Messages
1
I have had problem with frozen and delaying of quote while trading with IC markets. Due to problem I face at the time in July 2020 I have lost bout 8000 GBP. At the time I use 2 companies while I have frozen an delay quote on IC Market, with the other company I use same configuration but not live trade I found situation when I loss my trades on IC Market the data with the other company behaved normal. Since then I found not only frozen, lagging, there are time spreads were large commission extremely difference from specification, I have complained since though customer support channel, and they had offered some money to help, about 2000 GBP, but that is not enough compared to what I lost.

I was also very dis appointed with IC Market findings. Particularly some time I was in profit, when the market open again I loss 3/4 of the profit even quote did not changed significantly should I just be happy with what was left, cut the trades and said no

So the case went to compliance dep, in Oct 2020 and was quiete for very long time, even I sent email to ask for outcome, in the end that I have to contact both compliance and customer service depart and received the final answer on 2 Dec the company stayed like verdict at beginning of my complaint in July "No fault on the side of the company and I have signed documents agree the risk etc etc ."

I am very dis appointed with IC Market findings. Particularly some time I was in profit, when the market open again I loss 3/4 of the profit even quote did not changed significantly should I just be happy with what was left, cut the trades and said nothing

They has challenged me to complain to the to AFCA acts. I dont know how to do that, I would like to ask for help. I heard the forex peace army is the organisation which could help. But I dont know how to start. and my English is not that good for official English to make a case complaint to a, official court. Also I feel ashamed because many people know me and they may recognise me or ver the evidences when I contacted IC Market.

What can I do? could you please help me?

Could you please give me advise how to process ahead.
 

Vanessa.P

Sergeant
Messages
154
 

RahmanSL

Major
Messages
2,848
"At the time I use 2 companies while I have frozen an delay quote on IC Market, with the other company I use same configuration but not live trade I found situation when I loss my trades on IC Market the data with the other company behaved normal."

That is the favorite scam tactic of I-See-Market a.k.a ICMarket to make their clients loss money.
Their backoffice are busy manipulating their client's trading platform with false market spikes and even temporarily reducing their leverage to activate margin call & stop out. These dirty tactics are all very difficult to prove and complaints to ASIC is next to useless.
Avoid I-See-Bucketshop a.k.a ICMarket like the virus as that unscrupulous broker is worst than any virus and is lead/headed by pricks and scumbags.
 

Alonedevils

Master Sergeant
Messages
315
icmarkets aka tateprime, they often make market spikes. They recently moved the provisions for leverage, due to new regulations from ASIC, which is for RAW Trading type accounts under the supervision of registered in Seychelles with Company number: 8419879-2, trading as IC Markets Global, regulated by the Financial Services Authority of Seychelles with a Securities Dealer License number: SD018. What we know is that this regulation is quite dangerous for traders ..

in other threads there are also reports about TatePrime.

https://www.forexpeacearmy.com/community/threads/dating-scam.68489/page-3#post-392794
 

NanaR

Corporal
Messages
109
I have had problem with frozen and delaying of quote while trading with IC markets. Due to problem I face at the time in July 2020 I have lost bout 8000 GBP. At the time I use 2 companies while I have frozen an delay quote on IC Market, with the other company I use same configuration but not live trade I found situation when I loss my trades on IC Market the data with the other company behaved normal. Since then I found not only frozen, lagging, there are time spreads were large commission extremely difference from specification, I have complained since though customer support channel, and they had offered some money to help, about 2000 GBP, but that is not enough compared to what I lost.
See, this was exactly what I warned about years ago over here but people obviously don't listen and sign up with them, and then panic when SHTF. But at least you did not get that 'blank white screen' I used to have after logging in because there is nothing you can do if that happens. As mentioned before, researching online led me to conclude there are indeed some broker plugins for MT4 which allows them to 'freeze' or 'jam' the terminal on your end (these plugins were also for sale btw) and there is nothing you can do when that happens, except to close account and avoid them and move to another broker who does not give such problems.

Tbh I am indeed surprised they even offered you 2k GBP cos during our time, they never did. Also, from what I've seen there is nothing you can do if they refuse to give you back your money but move on like the rest of us here. Court cases will be lengthy and drain a lot of your time, money and resources (ICM has legal team to represent them and will be able to operate business while your time will be tied up). Just be more careful when selecting broker next time.
 

NanaR

Corporal
Messages
109
"At the time I use 2 companies while I have frozen an delay quote on IC Market, with the other company I use same configuration but not live trade I found situation when I loss my trades on IC Market the data with the other company behaved normal."

That is the favorite scam tactic of I-See-Market a.k.a ICMarket to make their clients loss money.
Their backoffice are busy manipulating their client's trading platform with false market spikes and even temporarily reducing their leverage to activate margin call & stop out. These dirty tactics are all very difficult to prove and complaints to ASIC is next to useless.
Avoid I-See-Bucketshop a.k.a ICMarket like the virus as that unscrupulous broker is worst than any virus and is lead/headed by pricks and scumbags.
Well said @Rahman. They are the worst of the scum. I have traded with other brokers and never had to face so much 'games' with them? Best of all, ICM will blame it on things like your 'poor trading skills' despite the fact their screen freeze led to the losses cos you are unable to close trades.

But there is nothing we can do since there is a sucker born every minute. They will read our reviews and comments here and assume we are all 'sore losers' and that they are special, and laugh at us until it is their turn to get scammed. Then we will laugh back at them, and the cycle goes on.
 

RahmanSL

Major
Messages
2,848
Yup indeed, there is a sucker born every minute!
And judging by those filing their scam complaints here at the FPA, vast majority simply jumped in with brokers, promising heavenly rewards, without doing any background checks.
Same for those being scam by online pretty girls...and boys... with promises of huge profits and heavenly relationship thrown in.

Humans are fallible and so easy to dupe by playing on their sentiments, desire, and wishes.
Luckily for the Forex world, I choose the light instead of darkness or else I would be many times worst than the CEO of that I-See-Bucketshop a.k.a ICMarkets :D
 

RahmanSL

Major
Messages
2,848
See, this was exactly what I warned about years ago over here but people obviously don't listen and sign up with them, and then panic when SHTF. But at least you did not get that 'blank white screen' I used to have after logging in because there is nothing you can do if that happens. As mentioned before, researching online led me to conclude there are indeed some broker plugins for MT4 which allows them to 'freeze' or 'jam' the terminal on your end (these plugins were also for sale btw) and there is nothing you can do when that happens, except to close account and avoid them and move to another broker who does not give such problems.

Tbh I am indeed surprised they even offered you 2k GBP cos during our time, they never did. Also, from what I've seen there is nothing you can do if they refuse to give you back your money but move on like the rest of us here. Court cases will be lengthy and drain a lot of your time, money and resources (ICM has legal team to represent them and will be able to operate business while your time will be tied up). Just be more careful when selecting broker next time.
There should be humongous signs put up warning:
WARNING! STAY AWAY FROM I-SEE-BUCKETSHOP a.k.a ICMarkets
 
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