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IC MARKETS

Discussion in 'Scam Alerts' started by Vanessa.P, Feb 11, 2019.

  1. Gabdrakhmanov

    Gabdrakhmanov Recruit

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    Step 4: You must notarize the screenshots which confirm causing of the material damage for further legalizing these documents in the Australian Embassy in the Rome.

    Step 5: It is time to start negotiations with an Australian Lawyer having a legal license within the Australia's jurisdiction.
     
    oscarra likes this.
  2. 4evermaat

    4evermaat Master Sergeant

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    Actually, the FOS (now the AFCA) is where you will get a chance to receive binding arbitration. ASIC you may report misconduct but they will not really lift a finger. In fact, they will tell you to use AFCA for those complaints....after 2-4 months of them making their formal reply.

    Believe it or not, the regulator should be the last resort. Victims should first use ounce of prevention to avoid becoming a victim:

    1. Transacting only with Prime of Prime brokers (or retail brokers you can verify send their flow to PoP).

    2. Get a better understanding of market microstructure; again so you understand how your broker is arranging your trades.

    3. keep good records of your trading activity, including:
    a. screen recording your trading terminal with terminal logs, market watch, charts, etc clearly showing the behavior during the trading session. (advanced tip: Try to include have a separate broker side-by-side with a similar trading strategy that does not show the problem.)
    b1. Install software like SnagIt and Bandicam to help with this. You should do this now (about 5-10 minutes to setup and familiarize yourself). This is the social media age and screen recording is very easy.
    b2. For your mobile phone screen, you can use A-Z recorder.
    As a last resort, you can use your mobile camera to record the screen. But this method is awkward and clumsy. Use screen recording software above.

    c. screenshots of the above (if video is unavailable) For mobile phone, use the native screenshot utility and Screen Master longshot photo editing tools.
    d. copies of relevant trading logs (account trading history), platform journal (transactions to/from broker server), etc. The trading platform should have this already, but some things like the account trading history you may have to generate a hard copy yourself.
    4. keep good records of all communication with broker, including:
    a. screenshots of withdraw and deposit requests, and any other major requests
    b. archived email communication.
    c. if communication/transaction is stored, online, grab a long screenshot (or several screenshots) of the all of communication.
    d. install automatic call recording software on your phone. In the event of a unexpected phone call, you are not caught off guard. Tell the caller that they should email any legitimate request/offers and end the call.
    If you are a victim of foul play, then you should take additional action:

    5. Create a timeline of relevant events. Focus your efforts on assembling evidence that tells a clear, concise story of each wrongdoing. If you were doing #3-4 above, this makes your life much easier.

    6. Contact the broker's support/compliance department. Notify them of the error(s) that you observed and tell them how you want them to resolve it. Wait 1-2 business days and follow-up to see what their resolution will be. They may ask for more time; you can negotiate the amount you think is fair. But still follow up at least every 2-3 days to see if progress has been made.

    7. Create a scam alert thread/review in a forex forum, such as FPA. Attempt to get help/advice from others in the trading community. Invite/encourage the broker to discuss their actions publically.

    8. Contact regulator ombudsman/mediator. You will formally present your case clearly and concisely to them.

    9. Consider other legal remedies, such as filing police report or filing a civil lawsuit.​

    This list is sorted ascending with the path of least resistance/most control for the trader/least stress to trader starting at #1. You may realize that you did #1-2 above, you will likely never even need to use whatever is gathered in #3-4, or implement #5-9. You would still do #3-4 anyway, because it doubles and helping your trading anyway (comparing brokers, improve your trading strategy, etc).

    Thank you for your time. I will eventually make this into its own blog post.
     
    #52 4evermaat, Mar 21, 2019
    Last edited: Mar 21, 2019
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  3. Gabdrakhmanov

    Gabdrakhmanov Recruit

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    I had contacted with the HHG Legal Group (Australia) via Facebook and am waiting a response from them.
     
  4. 4evermaat

    4evermaat Master Sergeant

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    Ok. Let us know what they say in terms of what kind of charges can be brought, what evidence is needed, and how much it will cost (legal fees, court costs, etc).

    @Gabdrakhmanov , if you have your own scam case against IC Markets, you need to open a separate scam alert thread and submit your own evidence there.
     
  5. Gabdrakhmanov

    Gabdrakhmanov Recruit

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    Thanks. But I am not a broker.

    The information from the Australian Business Register (ABR) with respect to the IC Markets.

    https://abr.business.gov.au/ABN/View?abn=12123289109

    I am studying the Sydney lawyer list.

    https://lawtap.com/au/lawyers?coord...tes=&service=&timezone=Europe/Moscow&lawFirm=

    I like lawyer Natalie Ledlin from Sydney.

    https://lawtap.com/au/lawyer/natalie-ledlin.html?timezone=Europe/Moscow
     
    #55 Gabdrakhmanov, Mar 21, 2019
    Lasted edited by : Mar 21, 2019
  6. oscarra

    oscarra 2nd Lieutenant

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    ASIC taking no or little actions, hum….i am not so sure about that, maybe in the past……here you find numerous examples of ASIC legal actions…..leading as well to jail sentencing

    https://asic.gov.au/about-asic/news-centre/find-a-media-release/?page=1

    https://asic.gov.au/about-asic/news...rndale-capital-securities-and-stavro-d-amore/ etc etc.......

    ..........if people don’t complain, for sure nothing will happen
     
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  7. Gabdrakhmanov

    Gabdrakhmanov Recruit

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    Vanesa will not forgive Mr. Budzinski - 500 000 USD. I am sure of it.
     
  8. 4evermaat

    4evermaat Master Sergeant

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    @Vanessa.P

    I took another look at screenshot. It looks like you have two separate complaints:

    1) intentional server delays which in your opinion caused the losses of the trades that were closed on 2018.08.09-10.

    2a) Two withdrawal request on 2018.08.15 for the total of $885,145.57
    #59179190 (via NAB Bank Wire transfer) for $830,145.57 and
    #59185046 (viaSkrill) for $55,000

    2b) I assume the account was in EUR?? (I cannot tell the balance currency)

    2c) Did you ever get paid any of the withdraw requests? If not, what was IC Market's excuse for holding the payout?

    2d) did you ever make other withdraw requests before you started having problems? By what method did you withdraw? How long did it take to get paid?

    3) @Alexander A. If this also happened to you and others that you know, you must EACH open your own scam alerts thread, list the wrongdoings, and submit evidence. Here is a mini guide to gathering evidence. People need to know. And the more similar cases like this, the quicker we can go for trader's court.

    I originally thought it was all lost in the losing trades. Thankfully Vanessa had enough sense to pull out while still ahead.


    The losses and the withdraw request being denied are two separate issues. I would say that's quite a feat to be able to make such a large withdraw request, assuming she did indeed start with $15,000 (I'm not sure if there were any other deposits made). But even 100% net profit is commendable.

    And I must acknowledge, IC Markets is being cheap by using fake accounts to post in threads.

    Looks like IC Markets is trying to pull a "Saxo" . But there is no huge movement to hide behind. The losing trades were held onto for several days in some cases, and I'm sure winners were held for much longer than 2 seconds or even 20 seconds.

    What exactly are you accusing her of doing "wrong"????? (trading or withdraw request)
     
  9. Gabdrakhmanov

    Gabdrakhmanov Recruit

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  10. Gabdrakhmanov

    Gabdrakhmanov Recruit

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    The representative of that company is Sandra Elena Charalambous.
     
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