Hello,
Claim to ICMarkets.
For more than 10 days in negotiations with ICM I am unable to solve the problem.
The essence of the case:
1.On the ECN MT4 platform (which the broker guarantees the unconditional execution of orders on the market, albeit with a possible slippage) when opening a BUY order with a small amount (3 lots) on the main pair (EURUSD) on an active and liquid market, my order was rejected with the message MT4 'OFF QUOTES'.
The time of order placing is 04:32:05, 17th Nov GMT+2, logs and screenshots of the MT4 terminal (its time GMT+3 on screenshot) and the broker server attached. The screenshot of the server was sent me by ICM manager in the chat when asking a question.
2. I was able to rediscover anew this order (BUY 3 lots EURUSD) only in 5 seconds at 04:32:10, as can be seen in the same logs.
3. The problem is of course not open an order at a different price. The fact that as a result of delay of this order, after 2 seconds (as you can see from the log of the ICM server) at 04:32:07, 17th Nov GMT+2, by stopout was closed another one of my SELL position (EURUSD 5 lots) with large losses.
4. I understand that the described situation is suggestive of poor trading style etc, I will not argue, but a perfect style probably does not exist, and there are possible different circumstances.
The essence remains the same: no matter how bad were my actions, but the broker for some reason (possibly, due to errors ECN MT4 bridge or server overload) didn't execute my locking market order, which led to the stopout. Again let me emphasize that according to the logs provided by the ICM, when trying opening of this order, the stopout is not yet reached and the execution of market orders, according to the trade conditions of the ECN platform from ICM, is unconditional.
I'd like to add that just in a short time the market has gone from highs, thus my reliance on temporary lock was justified.
Further, the history of the proceedings:
1. The first 5 days ICM manager tried to contact the liquidity providers (banks) to determine the causes of rejecting the order. Her statement was the excuse that ICM has nothing to do with the dealing desk and the order was rejected by the liquidity provider, namely the Deutsche Bank, in witness whereof, she sent me the appropriate screenshot (attached).
However, as can be seen from this screenshot, it shows a different time of order, moreover, its volume is quite different - just 0.03 lot!
I don't want to find out here if it is glaring incompetence of ICM employees or a deliberate desire to mislead.
However, also in many other questions when I contacted ICM support I was faced with exactly this position: what if the client will eat what he was fed?.. (For example, their bank did not send me my withdrawal for some issue, but their staff was insisting on that the money sent to me for almost a month, instead of ever ask it in the bank.)
2. On my insisting to resolve the issue on the merits, and not to delay the time of the next requests to the liquidity providers, as well as my request that management took up my suggestion about restoring closed by stopout order as closed incorrectly (which I was at that time not even profitable, but I was sure in my rightness and decision to hold the SELL position EURUSD), I was redirected to higher employee ICM Sung Choi.
I will add that ICM did not find and did not provide evidence that my order was rejected by the liquidity provider.
3. If with simple ICM managers I was able to chat at any time and they answered any my questions, Sung Choi is available only by mail. Moreover, the intervals of his responses increased by a day for each next message. I have 3 days waiting for his answer to my last objection.
I think this is invalid.
In addition, Sung Choi doesn't bother to provide any document (log, screenshot) in confirmation of his words, but simply unsubstantiated claims on their interpretation of the situation.
It was according to him the following:
My order 04:32:05, 17th Nov GMT+2, though, was opened when the stopout level had came already. (Although from log server ICM is clear that in 04:32:05, 17th Nov GMT+2 the stopout level was not yet reached).
The only and sufficient reasons for this (by his opinion) is that if it were not so, then my order would be opened! I.e. all turned on its head: because the order was not opened by their system, so
it had been exhibited already at the stopout!
No concrete evidence, documents, log in confirmation of his words (when all my insistent requests) Sung Choi did not and ignored my obvious objections.
If necessary, I will provide all the dialogues from the correspondence with Sung Choi and other managers.
Thus, in my attempts to resolve the issue with ICM staff I stalled. So I ask the traders community help in resolving this issue and contact with the ICM guide for consideration on the merits. I hope to receive from you any advice in this matter.
Thanks.
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