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Problem IC Markets SCAM ($43,450 LOSS)

I am having an issue with a company
Damn thats a lot. Hope you get it sorted.

Hi James,

Yes, it’s definitely a big amount and imagine the amount they scoop from all traders using such tactics on daily basis...!!

I’m still fighting them so will update as soon as something considerable is reached.

Current update is that AFCA is starting their negotiations and let’s see where that will end.

Thanks
Pheniox
 
Quick update: AFCA still going back and fourth and extremely slow. Apparently the covid situation made the need for their services spike exponentially. Oh well, will be on the heels of ICmarkets till they concede to defeat ;).

Will keep you all updated.

Thanks
Pheniox
 
When I was first starting, first couple of years, I use to trade stupidly like the OP does, thinking I knew how to trade and when I lost, of course I put the blame on the brokers, market makers and whatnot haha, and obviously it was my fault. I was checking his trades and pics and man, this is noob irresponsible trading. Look how much this guy let the trades go against him LOL, and look how many trades, that is textbook example of overtrading... Dozens of trades opened and left running overnight, in a lots of markets that have high correlation, it is like opening lots of positions in the same market.

This guys is making trading decisions based on a coin toss and then opening a position against the previous in case his wrong lol

Have this guy ever heard of risking 1% or 2% of his account when trading? And that is not PER TRADE

IC Markets is one of the best forex brokers out there. All this manipulation of prices and leverage and whatever you think happened is paranoia and an excuse to no look in the mirror.

Trading is not a game, if you trade without stops, that is a very expensive lesson you learned. My stops are not larger than 5, 10 pips, and I always babysit my trades. Learn how to trade properly using a proven method like VSA, what you are doing is gambling, not trading.
 
Trading is not a game, if you trade without stops, that is a very expensive lesson you learned. My stops are not larger than 5, 10 pips, and I always babysit my trades. Learn how to trade properly using a proven method like VSA, what you are doing is gambling, not trading.
Hilarious...you’re a funny guy but hey ho don’t you think it’s weird that ICmarkets haven’t responded to this official thread even they have been called multiple times :rolleyes:...I mean if they have nothing to hide why let this thread go on for months and put their reputation on the floor if it was genuinely true that I am a noob and don’t know how to trade...surely it would have been simple to respond - don’t you think?

FYI thank you for coming out of the woodworks (8 posts and spent 2 on me already...interesting )...and look around the scam folder you will see many ICMARKETS scam alerts and even the other day they have been totally banned in Italy ...so all these people are noobs and ICmarkets are as clean as a whistle ).

Thanks
Pheniox
 
Hilarious...you’re a funny guy but hey ho don’t you think it’s weird that ICmarkets haven’t responded to this official thread even they have been called multiple times :rolleyes:...I mean if they have nothing to hide why let this thread go on for months and put their reputation on the floor if it was genuinely true that I am a noob and don’t know how to trade...surely it would have been simple to respond - don’t you think?

FYI thank you for coming out of the woodworks (8 posts and spent 2 on me already...interesting )...and look around the scam folder you will see many ICMARKETS scam alerts and even the other day they have been totally banned in Italy ...so all these people are noobs and ICmarkets are as clean as a whistle ).

Thanks
Pheniox
most likely it is a troll
 
This thread is hardly a "threat" for them, just looking at your claims and trades makes very crystal clear you have no idea what you are doing, I am sorry but that is not trading. Keep doing that and you gonna keep blowing up accounts.


The majority of scams claims here are from noobs who lost money doing stupid trading and wanna blame the world and not them.
 
This thread is hardly a "threat" for them, just looking at your claims and trades makes very crystal clear you have no idea what you are doing, I am sorry but that is not trading. Keep doing that and you gonna keep blowing up accounts.


The majority of scams claims here are from noobs who lost money doing stupid trading and wanna blame the world and not them.

Ok we are all noobs here :rolleyes::D...on planet scam folder. Question; why are you (Mr Expert) even wasting your time with us down in the gutter? Surely your precious time and success in trading should be spent with sports cars and never ending parties.
 
When I was first starting, first couple of years, I use to trade stupidly like the OP does, thinking I knew how to trade and when I lost, of course I put the blame on the brokers, market makers and whatnot haha, and obviously it was my fault. I was checking his trades and pics and man, this is noob irresponsible trading. Look how much this guy let the trades go against him LOL, and look how many trades, that is textbook example of overtrading... Dozens of trades opened and left running overnight, in a lots of markets that have high correlation, it is like opening lots of positions in the same market.

This guys is making trading decisions based on a coin toss and then opening a position against the previous in case his wrong lol

Have this guy ever heard of risking 1% or 2% of his account when trading? And that is not PER TRADE

IC Markets is one of the best forex brokers out there. All this manipulation of prices and leverage and whatever you think happened is paranoia and an excuse to no look in the mirror.

Trading is not a game, if you trade without stops, that is a very expensive lesson you learned. My stops are not larger than 5, 10 pips, and I always babysit my trades. Learn how to trade properly using a proven method like VSA, what you are doing is gambling, not trading.
I was victim of ICM and I can tell you that I had 12000% free margin and they know their game how to reduce the free margin to nearly 100% or less without any market influence . They increased a positive swap rate to negative and increased every day to the point that I had to pay hundreds or dollars for an open trade which was $+5 daily in the first place!

I complained about the situation but did not give up but later they reduced the leverage from 1:500 of my standard account to 1:10 and brought excuses to AFCA that they did it based on what goldman sachs randomly published about oil! however they first convinced me that they had never reduced leverage before ! I doubt ICM is one of the best brokers out there mate !
I've been with them since 2016 and they betrayed me on the right time!
 
Quick update: AFCA still going back and fourth and extremely slow. Apparently the covid situation made the need for their services spike exponentially. Oh well, will be on the heels of ICmarkets till they concede to defeat ;).

Will keep you all updated.

Thanks
Pheniox
This is how AFCA deals with complaints . They give the financial firm enough time even after deadline! .
In my case, case officer sent an e-mail saying that since ICM hasn't responded to AFCA before the deadline, she is going to give them extension so they can defend themselves! After that it's like monologue rather than dialog with the victim. ICM writes loads of bulls... excuses to AFCA , jumping from terms and condition to market hazardous condition !
From what I've experienced . financial firm is the boss in these so called disputes . you can read tons of comments from local Australians here


AFCA is their bit... Period .. They make a living out of them. Not gonna fire their boss!
 
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