Problem IC Markets,Traders who lost money unfairly join here

[Pheniox123]

I truly wish I never invested anything with them; I thought it is a fair open market they were offering and didn't know they do such tactics. I have now started my own scam alert thread....not sure what can be done really but will try any suggestions I get. Thank you all....

 

[Tradervn]

Hi Mate,

From what I've read from your thread, I assumed that you were not able to take profit from your investment when market moved in your favor but you have not lost your initial investment? Please correct me if I'm wrong ?
If you haven't lost your initial investment, You would normally get less sympathy in the eyes of judicial authorities but still your right has been violated. They use many tactics not to let you make profit or take all your money, In your case you were lucky if you still have your initial funds.

Have you tried to lodge your complaint with both AFCA and ASIC ? that's cheaper alternative and it takes about two to three months for the case to be processed. If you still were not successful, We can find other victims. As you know we are not alone! If we gather as a team for at least 10 to 20 victims and run the case as a group, It will have stronger impact on the company.

My lawyer said the government is permitting remote swearing via Skype/Zoom and you can sign the documents online or possibly visit Australian embassy where you live to sign the legal documents provide by lawyer.

I will help everyone through all these stages. Even if anyone wants to visit Australia later for this process, I'm more than happy to help. It's not about the money for me now. You cannot imagine the damages they have done to me.I developed heart problem at young age and I had to borrow money from everyone to survive during this pandemic and lock-down.

If you see anyone else who've suffered by this company please inform them.

Let me know if it was the profit you've lost or the investment?

Cheers.

i have report to ASIC but the response showed that they won't do anything, i'm just waiting for response from AFCA, So can you please give me more detail about your plan and step to do that ?

 

[forexteamau]

If you are in the proc

i have report to ASIC but the response showed that they won't do anything, i'm just waiting for response from AFCA, So can you please give me more detail about your plan and step to do that ?

If you are in process with AFCA now. IC is now preparing a reply for your case to AFCA . You should wait and and submit your supporting document to AFCA . AFCA has two stages of making decision. If they did not make a decision in your favor, We will always have the court choice but AFCA seems to be cheaper alternative for you now. When did you first lodge your complaint with AFCA? what process are you in ? We need at least gather in 10 to 20 victims here for our final strike which is court.

 

[forexteamau]

I truly wish I never invested anything with them; I thought it is a fair open market they were offering and didn't know they do such tactics. I have now started my own scam alert thread....not sure what can be done really but will try any suggestions I get. Thank you all....

How much did you lose Pheniox ? Did you lodge your complaint with AFCA?

 

[forexteamau]

Any other victim lost money with this broker ?

 

[SUNDAY]

i have report to ASIC but the response showed that they won't do anything, i'm just waiting for response from AFCA, So can you please give me more detail about your plan and step to do that ?

I lost almost 85k euro to ic market and my account went into - 8k negative balance, 1000 pips more than my stop-loss price. For me this is a complete fraud.

 

[forexteamau]

I lost almost 85k euro to ic market and my account went into - 8k negative balance, 1000 pips more than my stop-loss price. For me this is a complete fraud.

Sorry to hear your loss mate, When did you first lodge your complaint ? what stage is your complaint in ?
Did they contact you for settlement ? Try reporting their misconduct to ASIC well. The AFCA is the cheaper alternative of going to court, Not sure if we can get any outcome out of AFCA .
I have my own lawyer but the plan is to find a no win no fee lawyer and run a legal proceeding after we reached to a few victims at least 10 to 20 which I'm sure there are many of them out there. Currently there are 4 us .
I'm from Australia I can take care of finding the lawyer and contacting relevant authorities . Due to current situation, I was told that Australian government is permitting courts over Zoom/Skype. Make sure you have enough evidence. Screenshots, recorded video or terminal log, anything that can prove that your stop loss has not been triggered.

 

[SUNDAY]

Maybe we can report the case to a government prosecutor to work on the case? I don't if australian prosecutor have jurisdiction over such case? I think if you are living in Australia u can report such case to prosecutor & it shouldn't cost you anything just have to prove someone has done something wrong to you

 

[Glastonburyk]

I always thought ic were on the up and up? Are they really that bad?

 

[sebking1986]

I've not had a bad experience with them yet but this is eye opening. Certainly vindicates my decision to not have too big a bank with any broker.