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IC MARKETS

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

  1. 4evermaat

    4evermaat 2nd Lieutenant

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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)
     
  2. Chris H.116

    Chris H.116 Recruit

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    Her trading clearly. By looking at the entries and where and what price was doing, she shouldn’t of been trading. I don’t wanna get into petty arguements over the internet. She lost because she doesn’t know what she is doing.


    Anyone can make money in the market, how consistent are you. How well do you understand price.

    By seeing her history I’m not surprised. Won’t be posting again good luck.
     
  3. 4evermaat

    4evermaat 2nd Lieutenant

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    Irrespective of our opinion of whether the trades made were "good trades", unless someone can prove that they violated IC Market's PDS of some kind.

    To go deeper with the foul play, I would need to see the terminal journal logs. @Vanessa.P, do you have these? Can you post them in full for the days in question.

    The withdrawals, can you confirm if and when they were paid? That would be criminal if @IC Markets did not pay the withdrawal.

    I have an upcoming article that is going to address these bucket shop tactics. This is ridiculous.
     
  4. Vanessa.P

    Vanessa.P Private

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    hello everyone, sorry for the absence but I have not been well and in the last few days I have had problems accessing the site, as regards the logs as already expressed several times those of the broker's internal servers would be needed but the latter not me has never given up despite dozens of requests,
     
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  5. 4evermaat

    4evermaat 2nd Lieutenant

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    Also, the withdrawal requests from a previous screenshot were paid timely.

    The only outstanding problem is the manipulation of the trading server against the client. The question of whether IC Markets intentionally targeted certain clients and failed to provide best execution practices for them. Specifically, they intentionally disconnected the datafeed, delayed execution, asymmetric slippage, or any combination of these in order to prevent client from profiting.

    Although the broker may not provide their trading journals for your account (and possibly incriminate themselves), you can still gather your own trading journal logs.

    fpa mt4 journal open log folder right click menu. fpa mt4 journal logs windows explorer.

    Most brokers that play dirty tricks on their clients assume that the client is not informed enough (the trader will not notice or be able to do anything about it). 80-90% odds are retail traders lose, so the broker bet with these odds they place the client on the b-book. Sometimes the losers become winners....and that can be a problem.

    So you must have self-diligence in gathering intelligence on your broker. Recording your terminal screen with all the relevant data clearly showing. Having other tools that gather execution and regulatory intelligence yourself can prepare you in case the broker does something out of the ordinary.

    "True" a-book broker would not have the problem to provide FIX trading reports for each and every trade in question. It is standard post trade reporting and is automated; there is nothing exotic about a trade report. This guide will help you to tell the difference: https://www.forexpeacearmy.com/comm...ime-of-prime-the-keys-to-understanding.59542/

    And for clarity, here is a sample report trade report from an actual PoP.

    trade receipt example.

    All IC Markets has to do to shut this whole conversation down from the beginning is provide the trading server logs for this account showing round-trip execution times, and all other related server events during that time.
     
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  6. GhostA

    GhostA Recruit

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    I see IC markets as scam shop. Maybe you should file legal action
     
  7. streamyx88

    streamyx88 Private

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    i recently opened a new account with IC market and this is causing some concerns for me already.......
     
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  8. 4evermaat

    4evermaat 2nd Lieutenant

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    @streamyx88 How much do you intend to fund your account with?
     
  9. streamyx88

    streamyx88 Private

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    .
    hi, i am just starting small, usually i put between 5000 to 10,000 in a broker
    in the past, i set up accounts based on friends recommendation but did not do any own research on forum
    lately, i start to have some minor issues (claims that they did not receive notice of withdrawal so causing some delays which can be frustrating) when i try to withdraw funds from some of the smaller brokers
    which was the reason i started to read uo more about broker review and now i am trying to shift some funds to a larger broker such as IC markets
    this is my personal view :
    1.we have to accept that MOST (maybe not all) of the brokers will try to get an unfair advantage over the trader in order to make money out of us, eg widening of spreads, stop loss hunting. We just have to read more in forum to find out, how OFTEN they do such things, and how BAD is the widening of spread. if there is regular complaints, then we better stay out or be extra alert if we have an account
    2. we need to know what sort of strategy we plan to use to trade - eg day trade (no worries about overnight swap fee), or early morning trade - need to beware how serious is the spreads widening during early morning. To avoid stop loss hunting, my friend taught me one trick about setting stop loss, which is NOT to put stop loss in the actual trading account to avoid stop loss hunting. what he does is that he has a copy trading software which he will trade in the DEMO account and copy only OPENED trades to his LIVE account. this way, the stop loss or pending orders will NOT be seen in the live account. Another issue about margin call triggering stop loss, is try not to overleverage eg only use leverage of max 100x.
    3.if you are good enough to make profits - make sure to REGULARLY take out some funds - i have not reached a stage where i can regularly make profit haha but so far breakeven or only slight profit with my trading
    4.NEVER just use one broker, it is good to ROTATE among 2 to 3 brokers the funds every 6 months - to make sure the brokers' service and system is still good
     
  10. scream007

    scream007 Private, 1st Class

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    Do not ever never trade with them , they always freez the platform , it happened to me so many times , unfortunately ASIC regulation will not help you , I dont trust Australian brokers any more , I hope that this community of FPA flag them as a scam broker .
     

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