IC Markets refuses to pay my profits

[NanaR]

Post your problems on I-See-Bucketshop in as many other forums as you can (e.g. Donnaforex, myFXbook, 100Forexbrokers, Babypips, etc) for more traders to be aware of this bucketshop broker manipulative & shady ways.

I see you are finally starting to have problems with them too... welcome to the club this was bound to happen to all profitable traders someday. especially if you managed to double or triple your account in less than a year... suddenly you notice the weird stuffs happening (as I have described in big detail in my threads). screen freeze/hang, ctrader and mt4 showing 40 pips difference in price quotes, spreads unusually wide when near TP or SL although no news, etc.

based on my (and others) experience, FOS cant do much. Don't waste too much time with them. will only give you false hope. Additionally, if u did more research you would find out that FOS is funded by the finance industry and seriously who would bite the hand that feeds them? This is what Andrew Budzinski (the CEO, not Angus Walker) knows and thats why he is so complacent.

ASIC doesnt care too much either imo very "slack" regulator thats why so many scam brokers in AU. Now I finally understand why Australian CPA is lowly regarded (with suspicion) by employers here in finance industry.

 

[NanaR]

FOS is totally useless. Very limited powers, and if what I read online is correct they get funding from these finance guys in AU = asking them to take action against them is like asking a baby to kill its mom.

Also, dont get hopes too high up on ASIC. There's people who lost way more than you did during SNB event who never got a favorable outcome until now. ASIC isnt interested in small potatoes like us and the victims back then indicated they would be taking private lawyer but idk how they fared.

I had some detailed threads exposing icmarkets here, together with proof they are actually ETORO ASIA PACIFIC LTD after I became their victim back in 2014. I wish you had read those before funding so much money with them, that's all. Could have helped to avoid this tragedy. On bright side, I managed to move on since mine was a small account and got to know the bigger people (futures market) and finally understood why C trader and MT4 are considered "crap software" and NO PROFESSIONAL will ever use them for big money in futures.

ps: I hope u will get some of the money back but chances are bad. Some other guys who were as profitable as you, told me same thing happened to them too. profits voided due to "arbitrage" whatever the crap that means and they never got their profits back. instead, they were even asked to pay back for withdrawals made previously... lol

My strategy was a scalping strategy.
I have not complaint to ASIC yet , only to Ombudsman but beware guys because these complaints are lasting forever since Ombudsman is trying to understand the both sides stories. I filed a complaint to Ombudsman against IC Markets in mid-May 2015 and I still don't have a final resolution.
I am uploading the letter from Spotware (cTrader) here so everybody can see that they acknowledged havnig a tehnical issue between May and June (this is a very long period).
I am asking for everybody here who has an account with IC Markets if they received any information regarding this technical issue from IC Markets.
In their T&Cs IC Markets has no liability towards their clients in any circumstances so IC Markets can , at any time, void your profits, saying that you benefited from a "manifest error" - - you have no chance of winning wiht IC MArkets!
I think IC Markets put me on their B book , hoping I would loose my money. I had a "true ECN account" but in the first response they sent to FOS they added a column where it is written B book. (see attachment). Their LP is Integral. I asked IC Markets to provide me with all of my orders' confirmations from Integral but they failed to provide even though in the Corporates Law it is specifically stated that they have to be transparent.


View attachment 23089 View attachment 23090

 

[NanaR]

This is a scary post. Did ASIC do anything ?

why would they? this is just small retail accounts. investigation costs lots of money.
if this was futures market though, involving millions of derivatives through the exchange(s), i bet my ass they will spring into action ASAP.

 

[slippage]

My strategy was a scalping strategy.
I have not complaint to ASIC yet , only to Ombudsman but beware guys because these complaints are lasting forever since Ombudsman is trying to understand the both sides stories. I filed a complaint to Ombudsman against IC Markets in mid-May 2015 and I still don't have a final resolution.
I am uploading the letter from Spotware (cTrader) here so everybody can see that they acknowledged havnig a tehnical issue between May and June (this is a very long period).
I am asking for everybody here who has an account with IC Markets if they received any information regarding this technical issue from IC Markets.
In their T&Cs IC Markets has no liability towards their clients in any circumstances so IC Markets can , at any time, void your profits, saying that you benefited from a "manifest error" - - you have no chance of winning wiht IC MArkets!
I think IC Markets put me on their B book , hoping I would loose my money. I had a "true ECN account" but in the first response they sent to FOS they added a column where it is written B book. (see attachment). Their LP is Integral. I asked IC Markets to provide me with all of my orders' confirmations from Integral but they failed to provide even though in the Corporates Law it is specifically stated that they have to be transparent.


View attachment 23089 View attachment 23090

any updates ? will they pay your money ?

 

[ScarletPipernel]

Yes, please keep us updated. Trading is hard enough without having to deal with this BS.

The problem is that, as a result of complaints like this one, governments then try to step in and 'regulate' the industry by restricting what retail traders can do. No hedging, must have $5M in funds to trade. bah.

 

[holycow]

Not sure why there are so many complaints where brokers refuses to pay profits or the whole amount but i guess it might be possible that most brokers only counterfeit profits when they suspect any violation in their terms or trading which is prohibited by them.

 

[aussietrader67]

Hi I have had good service from ICMarkets when ever I have needed technical support but was especially impressed and grateful when needing to withdraw funds they did it immediately outside of there normal withdrawal request processing
real Xmas spirit.

Brad

 

[Pharaoh]

And you were so moved by the Christmas Spirit that you created a brand new forums account for the sole purpose of digging up an inactive complaint in order to sing the praises of IC Markets.

 

[RahmanSL]

And you were so moved by the Christmas Spirit that you created a brand new forums account for the sole purpose of digging up an inactive complaint in order to sing the praises of IC Markets.

Yup, it's probably none other than I-See-Bucketshop very own Angus Walker

P/S: Hi Pharaoh my friend.....belated Merry X'mas & a happy and prosperous New Year 2017...may your subjects increase in numbers as numerous as the sands of the Sahara

 

[Pharaoh]

P/S: Hi Pharaoh my friend.....belated Merry X'mas & a happy and prosperous New Year 2017...may your subjects increase in numbers as numerous as the sands of the Sahara

There's a New Years party in the Mess Hall - bring snacks!