IC Markets SCAM ($43,450 LOSS)

oscarra

2nd Lieutenant
Messages
1,237
t's even more difficult for FX brokers as some of them are running on decentralized servers and not easy to find solid evidence even if federal police raids their local offices. Regularities cannot control who is the liquidity provider or if there is any existed, when it is online when it's out and it's just Sanjeet sitting there in Seychelles or Cyprus works as liquidity provider :)

Get us their Financial reports………and we see what sums and to whom they pay bills

At the best you may find some x30 concerning currencys LP, all the rest remains fiction, there are no LP involved with CFD providers, Banks may be crooks but they are not stupid
 

forexteamau

Sergeant
Messages
141
Get us their Financial reports………and we see what sums and to whom they pay bills

At the best you may find some x30 concerning currencys LP, all the rest remains fiction, there are no LP involved with CFD providers, Banks may be crooks but they are not stupid


I talked to ATO this morning, they said the financial reports should be available on ASIC website. I found some documents related to this company but it is not free of charge as ATO mentioned. Another rip off by ASIC online shopping! There is only 2018 financial report but could not find the older ones.
 

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Pheniox123

Corporal
Messages
93
I trade with Icmarkets for 1 year without any problems, but if you sure they do something wrong i suggest you contact and give evidents to ASIC https://asic.gov.au/about-asic/contact-us/how-to-complain/ may help you.

Hi Neovn,

Thank you for your support. I have been with them for over 2 years...first year was good then suddenly when I started making huge gains they seem to not like that and started all this manipulation gimmicks.

I have complained to ASIC and hopefully the message would have reached IC Markets by now.

Thanks
Pheniox
 

Pheniox123

Corporal
Messages
93
True. I believe this an ongoing issue because many victims of fraud like us do not open up and tell other investors about their experience. It could be out of shame of anything but this is crucial information for other investors.

Personally I found this website when I became a victim of fraud. Kudos to guys like @oscarra @FxMaster @AsstModerator @4evermaat and other top-ranked members for helping victims with no expectation in return.
This is a wonderful platform which let victims have their say. Sadly, I don't have such an opportunity in my country!

Totally forexteamau, the problem is that traders don’t ever think that these brokers do these games and when they even find out; they have an army of online defence teams that come on and make you think that no there is nothing wrong being done here...while in fact that is exactly what happens. IC Market is only good if you’re working with 5K max but everything above then they will start playing their games...

Thanks
Pheniox
 

Pheniox123

Corporal
Messages
93
Get us their Financial reports………and we see what sums and to whom they pay bills

At the best you may find some x30 concerning currencys LP, all the rest remains fiction, there are no LP involved with CFD providers, Banks may be crooks but they are not stupid

Fully agree Oscarra, there is no way they have legitimate liquidity providers; as most of their games is played with their own pricing bubble and hence they let you run in there and trip you ever now and then. They actually love it when there is a big event on the outside world; as it gives them an excuse to play their games by price spikes/ leverage reduction / swaps etc...anything to liquidate your account.

Thanks
Pheniox
 

Pheniox123

Corporal
Messages
93
I talked to ATO this morning, they said the financial reports should be available on ASIC website. I found some documents related to this company but it is not free of charge as ATO mentioned. Another rip off by ASIC online shopping! There is only 2018 financial report but could not find the older ones.

It’s good you even found some Forexteamau...if they cooked up the whole pricing game they are playing; then I’m sure their financial reports are expertly cooked also ;).

Thanks
Pheniox
 

forexteamau

Sergeant
Messages
141
This wouldn’t surprise me at all, seems like the trading world is built to defeat the retail trader

I cannot speak about other countries and regulators, but I believe ASIC and some of their crooked brokers are running these rigged casinos only for one purpose and that's pumping billions of dollars to Australian banks by overseas victims.

They couldn't care less how they treat their clients as long as they run a profitable show and pay their hush money.
 

forexteamau

Sergeant
Messages
141
This video explains how brokers can trade against us. Apparently there are lots of back-doors and software that can used for market manipulation, virtual plugin is just a simple one. It could be what happened in your case @Pheniox123. They restricted my account leverage around 4 -5 AM my local time. If check other thread and reviews, they usually go hunting when they know trader is not around.

 

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Pheniox123

Corporal
Messages
93
This wouldn’t surprise me at all, seems like the trading world is built to defeat the retail trader

Exactly that...all we are asking for is a level playing field; but no they want to make sure to win at all cost...to them our money is just numbers on an artificial game they are playing; but they don’t understand that our money is hard earned and honestly earned...they think they are not doing harm; as they believe all these retail traders can take a couple of thousands fraudulent losses and they just keep on eating through our money and make millions a day and billions a week of pure profit (fraudulently of course).

Thanks
Pheniox
 
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