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IC MARKETS

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

  1. streamyx88

    streamyx88 Recruit

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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
     
  2. 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 .
     
  3. 4evermaat

    4evermaat Master Sergeant

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    @scream007 and others, Please open your own independent scam alerts thread and submit evidence of the scam in that thread.
     
  4. scream007

    scream007 Private, 1st Class

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    I dont have evidence anymore , I removed all screenshots of the manipulation of the platform , I talk from my personal experience and it s an advice for people who dont know the truth about this broker , I shared my number account and my experience a long time ago in the review page , I repeat , I dont recommend dealing with this broker , dont get fooled by the advertising and low spread . Good luck
     
  5. Gabdrakhmanov

    Gabdrakhmanov Recruit

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  6. 4evermaat

    4evermaat Master Sergeant

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    Too bad you did not share a scam alert as well. Especially with the New Trader's Court system, it is vital that people share their own independent experiences with some kind of [preferably direct] evidence. The more independent threads, the stronger and faster a Trader's court case can be initiated.
     
  7. carsonj

    carsonj Recruit

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    hello, i also need help. i have lost $50,000 to IC markets, they are all scam brokers. please who can help me?
     
  8. 4evermaat

    4evermaat Master Sergeant

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    Again, @carsonj and others, Please open your own independent scam alerts thread and submit evidence of the scam in that thread.

    Those are the rules.
     
  9. FxMaster

    FxMaster Lt. Colonel

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    5 to 10k is still a lot for many people, I suggest you to read reviews about the company before you invest money with them. You will get the reviews here about most of the FX companies.
     
    4evermaat likes this.
  10. streamyx88

    streamyx88 Recruit

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    thanks, i have read some of the reviews in the link you provided, i guess it's always safer to try those with 4 to 5 stars
    but even for those 4 to 5 stars, we have to be prepared they may have problems too, just that the problems may be less severe than those with 2 to 3 stars.
     
    FxMaster likes this.

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