ICMarkets.com (International Capital Markets)

Javiervs

Recruit
Messages
7
I see many bad comments about this broker here, but still it appears the first on the list if you sort them by popular here at FPA. It's a very big broker with very good spreads, multi-regulated, ECN... I really don't know what to think.
 

hellmegadeth

Recruit
Messages
7
I see many bad comments about this broker here, but still it appears the first on the list if you sort them by popular here at FPA. It's a very big broker with very good spreads, multi-regulated, ECN... I really don't know what to think.
hello, it appears first in top of the list because it is the best among them, but as i have said before any broker can be a good broker only and only if you use an ECN cTrader broker it is the only way you wont have any issues with the broker regarding conflict of interest or manipulation of any kind in the trades, and is you understand the way deposits and withdrawals work specially the ones available for you or your country, they always reply and you will have no problems, other than that is up to you
 

4evermaat

2nd Lieutenant
Messages
1,919
I see many bad comments about this broker here, but still it appears the first on the list if you sort them by popular here at FPA. It's a very big broker with very good spreads, multi-regulated, ECN... I really don't know what to think.

I answered most of your questions in the other thread:

long time no see since i posted here, but what i can see is that the people DO NOT READ or CANT READ what i wrote before, stop using MT4 or MT5 or anything else but cTrader, no matter what broker you use if you don't trade using cTrader you will always have bad experiences with your brokers, and by the way is not the same ICM that IC Markets, those are two very different brokers please make no mistake with that, the first you need to know before trading whatever is the difference between Stp/NDD/ECN and a market maker, if your broker is only market maker or does not offer you cTrader you are just wasting your time over there, eventually you will have a conflict of interest with it therefore you will loose some money, time and who knows what else, before trading research and education about it is the mos importan thing a trader must do, then you will choose wisely and the money will come

cTrader can be manipulated....really any platform is subject to manipulation. The manipulation usually takes place on the back-end/bridge. Meaning that the price feed/orders are adjusted before it is finally presented to the platform. In short, trade manipulation is platform-agnostic.



Of course if the broker were to show you the a snapshot of the execution engine for each trade upon request, that goes a long way towards true transparency. Can you count with even 1 hand how many retail [forex,cfd] brokers provide "true" post trade reporting to their clients? I have yet to see IC Markets provide any such backend details to their clients. Particularly ones where pricing disputes are taking place.

MT5 improves how the platform display the deal making process, but none of that matters if the broker can magically renege the deal (that was supposed to be final in the first place). Again though, it is the broker's business model and not the platform that is the critical factor in judging likelihood for manipulation.

IMO, IC's underlying business model is questionable, especially with their association with eToro. And their recent, quiet removal of "True ECN" references throughout their website and advertising must make you wonder what they were really doing over the years. I certainly don't expect any broker to use the phrase "False ECN", even if it would be more accurate.


That sudden change in advertising phrases happened shortly after ASIC notice to all Au brokers about requesting more info on each broker's business model. And proposal of sweeping changes to retail cfds regulation.

Really it is your choice whom to trade with. Maybe some people feel comfortable with IC Market's current business model; not really my place to judge whom/where you gamble trade.

...well, for me a wire transfer takes 2 weeks before i can have any money in my hands,

what country are you from/resident of? and what country is your bank located?
 

Javiervs

Recruit
Messages
7
Thanks for taking the time to reply.

I've read a bit about cTrader and it does sound more reliable than MetaTrader, so thanks for the suggestion. Still I'm sure it's not perfect, especially in the wrong hands.

About IC Markets, I've read that they're an ECN only for orders bigger than 1 lot, and act as your counterpart for smaller orders. I guess that's why they stopped claiming to be "true ECN". For what I know, this practice is very common among brokers and it doesn't instantly make them evil. Still they claim that they're prices come from their LPs, so they're supposedly not "made up".

I believe that big brokers like this one are more prone to having complaints, just because they have more clients. You posted one of many examples of resolved cases. I can't know if it's evil manipulation or innocent incompetence, but for the quantity of clients this broker has, they would have many more complaints if they were really doing it systematically, wouldn't they?

A bit about myself:
I'm quite new to trading, been trading for 3 months with small capital, not profitable but also not blowing accounts. Until now I've traded with HF Markets (HotForex). Had some "off quotes" errors at the beginning when opening trades, but their support was quick to answer and I can't really complain in terms of losses, other than a bit of discomfort.
I've looked for a broker with better conditions and I found two: IC Markets and AxiTrader. They have low historical spreads according to forexbenchmark.com and also low comissions. Tickmill also caught my attention, but their spread spikes make them much less interesting. My gut favorite option is IC Markets because it's an ECN in contrast with AxiTrader, which is a market maker. Still that's not a determinant argument because AT is regulated under FCA and others, and ICM is also multi-regulated. Also, ICM acts as a market maker for small operations, so they're not that different.

So, in conclusion, I'm currently skeptical about both people claiming ICM to be a scam or bucket shop and the company itself, which clearly isn't perfect because we can see people complaining over similar things. I will continue to investigate and be around this forum, but for now I think I will have to try for myself in order to have a funded opinion.

Are you a trader, 4evermaat? You don't seem to have a positive opinion about trading... Still I appreciate your collaboration and help for the people having problems.
About your reply on the other post, I'll reply to you here so we can keep the other conversation on-topic and clean. I have read the post you mentioned, but I didn't find it useful... I understand there are tiers of brokers, but as retail traders we can't do much about it.
I meant that exact list, yes. Would in fact be interesting to know more about the calculation and also whether the reviews are legitimate or purchased. I have seen the warning that ICM has tried to post fake positive reviews, and seeing them with the most popularity is very suspicious.

Regards.
 

4evermaat

2nd Lieutenant
Messages
1,919
I believe that big brokers like this one are more prone to having complaints, just because they have more clients. You posted one of many examples of resolved cases. I can't know if it's evil manipulation or innocent incompetence, but for the quantity of clients this broker has, they would have many more complaints if they were really doing it systematically, wouldn't they?

Even if there was not a single complaint, if you don't understand the underlying business model the forex/cfd/any brokerage is using (and you don't if you are here as well as 95%+ of retail gamblers traders do not also), then it is a recipe for failure. It is that simple.

orange-cartoon-making-the-trip-up-to-other-toon-stock-photo-stumble-falling-cartoon_520x520.jpg


"Regulation" actually means very little if you do not understand the scope of what the regulation covers, what it actually polices, etc (95% do not, including yourself). OTC products are relationship-based.....very similar to going to the local farmers/swap market.

I do think those brokers who run 100% agency or an honest hybrid (there are ethical ways to run a partial book if 100% STP is used, no reneging, etc) are wonderful editions to the trading community. But good luck finding them; for every 98 bucketshops there are 1-2 agency model broker or honest hybrid. [I actually know from experience who most of them are, but I don't actively promote a particular broker here publicly for professional reasons].

It's actually very easy to know/study to see if your orders are being manipulated. Screen record 100% of your trading sessions. Keep backup copies of your trading history. Request back-end (post-trade execution) records of the market snapshot at the time of any error trades (or any trade for that matter). Take snapshots/screen recording of all relevant events (withdrawals, deposits, wins, losses).

It's ultimately your choice where to put your money. I don't see anyone voluntarily depositing their money at a false bank or false atm machine. So with the same logic, why deposit your money at what is essentially a fake brokerage? Attach a familiar trading platform and stream some prices to it and all of a sudden people just toss their common sense out the window. But it is their choice to make.

....My gut favorite option is IC Markets because it's an ECN in contrast with AxiTrader....
About IC Markets, I've read that they're an ECN only for orders bigger than 1 lot, and act as your counterpart for smaller orders. I guess that's why they stopped claiming to be "true ECN". For what I know, this practice is very common among brokers and it doesn't instantly make them evil. Still they claim that they're prices come from their LPs, so they're supposedly not "made up".

Do they provide post trade report with market snapshot which shows who took the trade for 1+ lot orders? or for the <1.00 lot trades? The accountability to their clients is what ultimately separates the bucketshops from the agency model brokers (and proper hybrids).

Do they specify to the client upon request (or even better, WITHOUT requesting) which orders are b-book vs which orders are passed on? Or is it just a merry-go-round guessing game?

Again, i refer you to this post with the proof that IC Markets broker advertised quite loudly that they are ECN:


This wasn't 1 day or 2 week ad campaign. It was for over 6 years. IC Markets is not (and has never been) a "true ECN". Although in the past (6 years ago) they may not have been as tricky about their execution. And FYI it is possible to have agency flow for 0.01 mt4 lot. Slightly more expensive for the broker, but possible.

About your reply on the other post, I'll reply to you here so we can keep the other conversation on-topic and clean. I have read the post you mentioned, but I didn't find it useful... I understand there are tiers of brokers, but as retail traders we can't do much about it.

As a retail trader, you can certainly educate yourself as to what to look out for and make a choice where to deposit your hard earned dollars. You don't have to be a victim. Although many do succumb to their greed/gambling impulse. And dont realize the deviant broker behavior. Hence the active scam alerts folder. A small % are fortunate enough to be moved in the resolved issues folder.

You're new. But I think you will learn quick with the help of FPA. Welcome to FPA btw.
 

Javiervs

Recruit
Messages
7
Hi!

My MT5 account with IC Markets is open. They were very quick to validate the documents and support took less than one day to answer.

However, I'm disappointed because cTrader account isn't available in their european domain. Support said it will be available soon, but they're already advertising it as if it was available.

Also, their commission scheme for cTrader is weird, but I've found that most other cTrader brokers do the same. They charge 6€ per USD lot, meaning that pairs with a stronger currency (like GBP) in the base position are more expensive to trade (~7,80€ per standard lot on GBP/XXX) while weaker ones like AUD are significantly cheaper (~3,80€ per standard lot on AUD/XXX). Correct me if I'm wrong because all this calculations are made by myself following the instructions in their webpage and could be erroneous.

If my calculations are correct, cTrader would have cheaper commissions than MT except for GBP-based pairs (less than 0.1 pips more expensive than regular MT account), but counting on their very low spread, the quality of cTrader platform, and being cheaper for every other pair, I think in theory it's overall better than my current broker (HF Markets/HotForex). Still have to see how it performs in practice, however.

Regards.
 

Javiervs

Recruit
Messages
7
Correction:
The webpage that I had been using to compare spreads (myfxbook.com/forex-broker-spreads) shows that HFM spreads are higher than they actually are. I discovered this by comparing them with the real live ones appearing on my MT4 platform. So I was wrong to say that ICM has lower spreads than HFM, it's actually the other way around.
 

Bootstrap

Private
Messages
23
Hello brother, I'm in the same soup you are in. I've not been able to withdraw earnings in over a month. I have used different debit cards all not working. Pls how do I expose them and how do u know how to use skrill
Hello.
Have you tried to get it out by wire international transfer?
and if you use skrill you will have to pay the commission, but it is better to pay the commission than not having any withdrawals

Your earnings would not be so reduced!!

regards
 

valachi74

Recruit
Messages
2
Gold trade illegitamely closed before reaching my TP... don't take my word for it examine the attached files and you can see the blatant manupulation .
 

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valachi74

Recruit
Messages
2
IC markets have been in contact with me and we are on course to an amicable resolution to the Gold spike issue.
 
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