Problem IC markets

[psunardi]

yes , open your own threat in scam folder to againt them and write to ASIC and FOS .

ICMarkets is a real scam broker! STAY AWAY!!!

I had 3 accounts at ICMarkets and another account on Saxo. With SNB debacle the ICMarket accounts lost over 14k while Saxo account lost 200euro's with exact same robot. All 3 ICMarket accounts had exact same trades copied from 1 to another.

ICMarket was sending illegal/fiction prices for USDCHF during the news. Regarding all financial reports, including Bloomberg, USDCHF has never ever been on that price. The difference between actual price and ICMarkets price is over 2000pips!!!
You can see all my trade details here!

After 3 weeks of calling, several emails and promisses that they will adjust the trades to the right price, all they say was this:
'Upon further review of your accounts, our trade desk have assessed that there are no pending adjustments on your accounts as the rates have been verified as correct by our liquidity providers and stopouts occurred correctly. During the SNB announcement, spreads were extremely wide, and as there was uncertainty by the banks on where to price the CHF pairs there was no liquidity as a result.'

These 3 accounts lost all together over 14k and had same trades. They adjusted trades on 1 account with 740euro's (which is nothing if you look at the loss). But the most crazy thing is that they say the trades on the other 2 accounts don't need adjustments while they have been traded on the same price.

All they do is blame the liquidity providers which they chose by themselfs. When you don't know where to price a currency why do you just send fiction prices? and allow trades on those prices? Saxo just blocked tradings and did send real prices. On ICMarkets graph you can see USDCHF went down all to 0.04, which should mean: USD doesn't exist anymore.

This is just steeling money from traders by sending fictionary prices to MT4.

I'm now sending a letter to Australian Securities and Investments Commission (ASIC) to investigate this as ICMarkets is not taking this seriously.

View attachment 18416

 

[WFC]

Sorry Ed_Forex! my last reply here. I'm opening a new thread.

Are there more people affected and have the same problem with ICMarkets? i'm sure they are!
I think its better to send several complains to FOC and ASIC with same subject. Together we may be more strong!
If anyone wants to join me on this, my emailadress: fariwar@ezorg.nl

 

[bigdolly]

Sorry Ed_Forex! my last reply here. I'm opening a new thread.

Are there more people affected and have the same problem with ICMarkets? i'm sure they are!
I think its better to send several complains to FOC and ASIC with same subject. Together we may be more strong!
If anyone wants to join me on this, my emailadress: fariwar@ezorg.nl

I think their problems arise from affection from CHF event. I would advice to all traders who are with IC markets to withdraw your leftovers ASAP and look for other normal broker.

 

[NanaR]

I think their problems arise from affection from CHF event. I would advice to all traders who are with IC markets to withdraw your leftovers ASAP and look for other normal broker.

Wrong. They had problems even before CHF event (look at my and psunardi posts). Even last year during July 2014 NFP they had major server issues - I was one of the affected victims back then but since I managed to close trade much later without much damage, didnt think too much of it and didnt report. Realise now I should have already joined the others here and reported them eh? Then we would not have another crisis now with new victims for CHF pairs.

But you are right about withdrawing money. You'd never know if another crisis and "fake margin calls" like this SNB thing will arise in next major news announcement or server issues like July NFP.

 

[WFC]

ICMarkets is a real scam broker! STAY AWAY!!!

I had 3 accounts at ICMarkets and another account on Saxo. With SNB debacle the ICMarket accounts lost over 14k while Saxo account lost 200euro's with exact same robot. All 3 ICMarket accounts had exact same trades copied from 1 to another.

ICMarket was sending illegal/fiction prices for USDCHF during the news. Regarding all financial reports, including Bloomberg, USDCHF has never ever been on that price. The difference between actual price and ICMarkets price is over 2000pips!!!
You can see all my trade details here!

After 3 weeks of calling, several emails and promisses that they will adjust the trades to the right price, all they say was this:
'Upon further review of your accounts, our trade desk have assessed that there are no pending adjustments on your accounts as the rates have been verified as correct by our liquidity providers and stopouts occurred correctly. During the SNB announcement, spreads were extremely wide, and as there was uncertainty by the banks on where to price the CHF pairs there was no liquidity as a result.'

These 3 accounts lost all together over 14k and had same trades. They adjusted trades on 1 account with 740euro's (which is nothing if you look at the loss). But the most crazy thing is that they say the trades on the other 2 accounts don't need adjustments while they have been traded on the same price.

All they do is blame the liquidity providers which they chose by themselfs. When you don't know where to price a currency why do you just send fiction prices? and allow trades on those prices? Saxo just blocked tradings and did send real prices. On ICMarkets graph you can see USDCHF went down all to 0.04, which should mean: USD doesn't exist anymore.

This is just steeling money from traders by sending fictionary prices to MT4.

I'm now sending a letter to Australian Securities and Investments Commission (ASIC) to investigate this as ICMarkets is not taking this seriously.

View attachment 18416

Well i have to rectify my post!
This week ICMarkets contacted me and they have refunded all losses! that is been very generous!
and i've to say i'm very happy with them!

 

[NanaR]

Well i have to rectify my post!
This week ICMarkets contacted me and they have refunded all losses! that is been very generous!
and i've to say i'm very happy with them!

thats great news for you bro but did they even explain why the problem happened in the first place, and what measures will be taken for that? and no, they are not generous since they first brushed you off, and only adjusted after there was a newspaper article on their "fake margin calls".

for me i regret staying with them after the July NFP server problem. fastforward 6 months later and again they have issues this time with SNB. what's next?

This is what happens cos the staff is too lazy. Reported bugs to them months ago about the prices showing different and they didnt care. Expensive lesson for them.

 

[doktorforex]

when is fpa taking action?

thats great news for you bro but did they even explain why the problem happened in the first place, and what measures will be taken for that? and no, they are not generous since they first brushed you off, and only adjusted after there was a newspaper article on their "fake margin calls".

for me i regret staying with them after the July NFP server problem. fastforward 6 months later and again they have issues this time with SNB. what's next?

This is what happens cos the staff is too lazy. Reported bugs to them months ago about the prices showing different and they didnt care. Expensive lesson for them.

are you taking action?

 

[doktorforex]

?

are you taking action?

nothing???

 

[Pharaoh]

The FPA takes actions based on Traders Court cases. You need to file one.

 

[RahmanSL]

Looks like the complaint has been dealt with??