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IC Markets removed my stop loss resulting in $4000 of extra losses

Discussion in 'Scam Alerts' started by sofamous70, May 30, 2019.

  1. sofamous70

    sofamous70 Recruit

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    Ice market removed and manipulated a trade on 08/05/2019,they adjusted my stop loss and my trade closed in loss. I immediatelly alerted them about this issue and was told its normal that stop loss does adjust itself and close a trade,firtsly that was not true and secondly it weas illegal to manipulate a clients trade without there consent.

    After writing couples of emails and making some phone calls to the head office,they have accepted the responsibilty of making a mistake,but offered me 200 USD as compensation,which i refused and i asked for my original 400 USD loss,they replied again and offered to give me 800 USD. So i though all this were just bogus replies and a common paettern in scam.

    Today i have made my complain to the 2 authorities in Australia ASIC and AFCA,hoping this issue will be resolved soonest and i can get my money back,I have been so distressed by this situation.

    I am writing this thread to seek for advice from people with similar cases and also warm other members to stay away from IC markets, they are a biog joke.

    Attached is the photo of trade in question that was manipulated


    Solomon

    Sofamous70
     

    Attached Files:

  2. ssteven

    ssteven Recruit

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    IC markets are truly scam has they have also taken my money, do you think the authorities will help?
     
  3. 4evermaat

    4evermaat 2nd Lieutenant

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    @sofamous70

    There have been several recent threads of people experiencing similar problems with IC Markets. Either the stop loss/TP disappeared, pending orders are removed, or even disconnects to prevent closure of trades:

    https://www.forexpeacearmy.com/community/threads/ic-markets.59108/
    https://www.forexpeacearmy.com/comm...-in-approximately-5000-of-extra-losses.59369/
    https://www.forexpeacearmy.com/community/threads/stop-losses-removed-themselves-icmarkets.59340/
    https://www.forexpeacearmy.com/community/threads/ic-markets-dont-trust-them-with-your-trading.60160/
    https://www.forexpeacearmy.com/community/threads/ic-markets.59657/


    Before complaining to the regulator, let's see if we can create a proper timeline. Regulator action can last several months or even years. But handling complaints with public mediation can usually be handled much quicker.

    Can you elaborate on the sequence of events from the moment you entered the trade until the trade was exited? The transaction logs (journal logs) would help greatly.

    can you attach the mt4 journal logs showing when you entered the trade, when you placed original stop loss and any adjustments that you made to that trade ticket. Zip/attach all the journal logs starting from the day you entered the trade until you closed it. Here is how to find journal logs in mt4:

    [​IMG]

    [​IMG]

    If you are unsure about which dates to copy, you can just zip the entire folder and upload it here.

    -------------

    If you have account history, you may attach that also (this is separate from the journal logs).

    [​IMG]

    Can you attach screenshot of this email/chat communication? If it was a call, did you record it?

    Can you attach email response of the acknowledging the error? Also any offers that were made.

    --------------------

    Even if you do end up complaining, having solid evidence puts you in a position of power.

    ---------------

    Leave a review of your experience: https://www.forexpeacearmy.com/forex-reviews/8264/www.icmarkets.com?per-page=25
     
    #3 4evermaat, May 31, 2019
    Last edited: May 31, 2019
  4. FxMaster

    FxMaster Lt. Colonel

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    First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

    Note: If you are new to FPA then invitation button will be enabled when your first post reaches 4 days old.

    Till then follow the below-suggested options to draw their attention on your issue

    If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
    Go to their website and invite them to here via Live Chat
    Invite them to join this thread via email (Send an email to every possible address).

    You will find their email and address https://www.icmarkets.com/client-area/contact-us/
    Also, Share your story as a review http://www.forexpeacearmy.com/forex-reviews/8264/www.icmarkets.com

    You can also share your story on their social media pages mentioned below:

    https://www.facebook.com/icmarkets

    (Click on more and you will find write review option there)

    https://twitter.com/IC_Markets

    https://plus.google.com/+Icmarketsforex

    https://www.youtube.com/user/ICMarkets


    Note: Don’t forget to update your review/s when you got solution of your problem, Best Of Luck :)
     
  5. sofamous70

    sofamous70 Recruit

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    Hello everyone, my case as been resolved today 19-06-2019 and IC Market as Offered to pay me 1700 dollars. I just accepted it and hope they wont try such Manipulations with me again.

    Thank you all for the support and help

    Solomon
     
    Mus Millz likes this.
  6. FxMaster

    FxMaster Lt. Colonel

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    One question, can you confirm that the compensation money arrived in your trading account?
     
    Mus Millz likes this.
  7. sofamous70

    sofamous70 Recruit

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    The compensation money has not yet arrived in my trading account,Am still waiting for them to Fund my trading account.
     
  8. FxMaster

    FxMaster Lt. Colonel

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    Inform us when it arrived so we can mark this thread as a resolved :)
     
  9. sofamous70

    sofamous70 Recruit

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    Its 24 hours and no reply from them,this company seems not to take anything serious,they just love to write emails and emails and emails,with little or no action at all

    i will update when my account is funded

    Thanks
     
  10. FxMaster

    FxMaster Lt. Colonel

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    You are most welcome :)
     

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