IC Markets,Traders who lost money unfairly join here

CLTH177

Private
Messages
10
I have previously posted on how their XTI prices differ from many other brokers during the crash to hit out client's account. But its not just the XTI, the XAU also have similar issues and there are people complaining about it in this forum. I'm going to attach the price chart for XAUUSD on ICmarket and cross reference it with other sources like Globalprime, Darwinex, and TradingView and you guys can see for yourself how IC Market literally make their own price to hit out a trader's position. And everytime someone tries to contact their support and ask to correct the position, they will tell you it's the market or liquidity provider's fault.

To prove it, i will now show you their reply to my buy limit not triggering even though the USDCAD went roughly 4 pips over it and then having the price go towards my target tp, I have provided a screenshot of it. In the end, they just provided me with a excel sheet and called it their tick data. As I trusted them back then, I took their explanation and just moved on. From the chart, you can see that the spread, which is the difference between the red and the blue line is 1.7pips, so even if we apply the what the support staff said and add 0.5 pips to both the BID and ASK price, the buy limit order would still have triggered.

Now that i see so many people complaining about their questionable behavior, maybe it's time to do something about it. I have a lot more findings to share, like archived webpage of how they used to advertise themselves as a "True ECN broker" and remove it now because people could use that against them, and more spread widening instances to hunt stoploss and trigger margin calls, which they refuse to admit their fault and forces the clients to take the loss, but that would make this post too long and complicated with too many attached thumbnails.

Once all the other victims have come together and post their own evidences, we will build up a strong case and file a class action lawsuit together and get back our money.
 

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Umar7592

Recruit
Messages
6
I am having extreme slippage issue almost on all of my trades, i get slippage of around 0.2 to 0.5 pip, i have true ECN account but i don't trust now as if they are really true ECN, i am trading same positions on Dukascopy but never had any sort of slippage over there. I don't bother much with IC because i don't have my main account with them, its just a $3k account with this broker so i am bearing all of this. But i do have fellows who have invested above $10k and they have the same issue so they are planning to switch the broker soon.
 

forexteamau

Private, 1st Class
Messages
65
Hi. I'm sorry for your loss mate . I was away for a while .I could not reply earlier. have you tried to report them to ASIC and lodge a complaint with AFCA? These guys are gangsters operating from Africa and Cyprus . did you open account under ASIC or Seychelles ? Have you tried to report their misconduct to ASIC ?
 

forexteamau

Private, 1st Class
Messages
65
I am having extreme slippage issue almost on all of my trades, i get slippage of around 0.2 to 0.5 pip, i have true ECN account but i don't trust now as if they are really true ECN, i am trading same positions on Dukascopy but never had any sort of slippage over there. I don't bother much with IC because i don't have my main account with them, its just a $3k account with this broker so i am bearing all of this. But i do have fellows who have invested above $10k and they have the same issue so they are planning to switch the broker soon.
Umar thanks for sharing your experience. withdraw your money before it's too late . They play many tricks . they can put you down to more margin requirement so you deposit more and more. It's a doggy broker for sure but if you are registered under Seychelles you are less likely to be protected by the regulator . ASIC is probably the same but at least there is someone there who listens to your story if things go wrong.
 

forexteamau

Private, 1st Class
Messages
65
I have previously posted on how their XTI prices differ from many other brokers during the crash to hit out client's account.
I noticed your USDCAD trade belongs to 2016. What did you do with that dispute you had with them ? How come you continued trading with them after that experience mate ?
 

CLTH177

Private
Messages
10
I noticed your USDCAD trade belongs to 2016. What did you do with that dispute you had with them ? How come you continued trading with them after that experience mate ?
They just gave me the same explanation they always gave to everyone when someone questions their price feed, that it's market volatility and all pricing is shown direct from the LP and they have no control over it. I believed it back then because I didn't knew better and it wasn't a big amount, so I let it go. But I now know that was just one of many instances of how they would meddle with their price feed to put traders at an disadvantage, because they are not a real ECN broker.
 

forexteamau

Private, 1st Class
Messages
65
They play with the ECN thing if you check their history, they advertise ECN and then remove it and then become a raw spread broker.The play many tricks. I will share some interesting evidences later after we went through our legal proceedings . These guys are gangsters . I wonder how ASIC let them to be in this business after their long history of cheating. For Cyprus and Africa it's pretty clear, you can do whatever you want if you have connection and money. Have you tried reporting them to ASIC as well ?
 

forexteamau

Private, 1st Class
Messages
65
yes, not so easy to understand or explain, and company’s T/C make it even more complicated, but that’s the main idea behind this misleading thievery industry

in short, you as your fellow traders clients are the MARKET :oops: you are just betting on price action of whatever asset, theory the losers pay the winners in order to keep it matched the House takes appropriate action, in this case just rig the price….etc…and disregard all the LP talks, excuses and so on

My advice, get some motivated Lawyers file your complaints to ASIC and drag them all in to some criminal courts
Well said Oscarra . I felt I was in a casino with more odds against my bet. When you dealing with a crooked broker, it's like everything is against you, like Price, margin, spread, etc . You will be better off if you play Russian roulette! They design the the trading environment to take your investments. I told CLTH177 that we need to gather as a few people to run a class action . I talked to some no win no fee lawyers as well.
 

forexteamau

Private, 1st Class
Messages
65
I am having extreme slippage issue almost on all of my trades, i get slippage of around 0.2 to 0.5 pip, i have true ECN account but i don't trust now as if they are really true ECN, i am trading same positions on Dukascopy but never had any sort of slippage over there. I don't bother much with IC because i don't have my main account with them, its just a $3k account with this broker so i am bearing all of this. But i do have fellows who have invested above $10k and they have the same issue so they are planning to switch the broker soon.
Umar do you still have an ECN account with them because they changed it to raw spread a couple of months ago ?
 

forexteamau

Private, 1st Class
Messages
65
They just gave me the same explanation they always gave to everyone when someone questions their price feed, that it's market volatility and all pricing is shown direct from the LP and they have no control over it. I believed it back then because I didn't knew better and it wasn't a big amount, so I let it go. But I now know that was just one of many instances of how they would meddle with their price feed to put traders at an disadvantage, because they are not a real ECN broker.
Any updates with your negotiations?
 
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