• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

Discuss ICMarkets.com (International Capital Markets)

General discussions of a financial company
Yes bro i totally Agree with u the execution speed is very bad too see this
takes 40 to 80 seconds for execution the orders and this is they called Ultra Fast execution
 

Attachments

  • ICM Speed.jpg
    ICM Speed.jpg
    670 KB · Views: 65
Take this into serious consideration before opening an account with ICM!

Also read my review on ICM as to why you should reconsider opening an account with ICM!

For some time now ICM have been giving me (fake) spikes taking out my SL's but yet these spikes are not seen with other brokers, This is not just a one off thing, this is happening all the time and one of the reason's I closed my live account with ICM. Here is the proof ICM give fake prices taking out my SL

My main trusted broker that I have been with for around 7years. Take note price never made a lower low and didn't take out my SL
icm scam 2.png

One of my trading buddies brokers chart, notice price never made a lower low
5884933.png

My ICM chart where price not only made a lower low and taking out my SL but ICM even slipped my SL to the low of the (fake) spike down
icm scam 1.png


ICM can NOT be trusted, You have been warned!
 
you have been a little late to realize that icm manipulating their mt4 platform to burn out client account
 
Hello guys,


I would like to publish what happened to me using IC Markets. I start saying that I believe IC Markets is a good broker and definitely not a scam (as many others are), I have used it for the past 6 months and I found that the spreads are razor tight.


However I have found a couple of problems:


First problem: IC Market on the website says that they have servers both in NY and London, one would expect that according to the user location they connect him to the closer one. Wrong! In fact the London servers are only for user who use cTrader and the one in NY are for those who use MT4. So using MT4 I am obliged to connect to their NY server. The problem is that I live in Europe and my latency suffer a lot. I asked the customer service if there could be something that could be done about that and they told me "no".


Second problem: be carful with the backfiring take profit of sell/buy stop order during high volatility news. This is something that never happened to me before and I want to publish the whole story so that nobody finds themselves in the same situation.


I decided to trade the Australian Interest Rate news (3 May 2016). Before the news I place the pending orders on different currencies with take profit and stop losses to saddle the news.


Basically once the price jump up with a gap the orders get activated but as my take profit is inside the massive gap that form I found myself with a loss. I attached the image of the situation and I also publish the whole discussion I had when I opened a trade investigation form. I think that in this occasion the broker stopped me out taking advantage of the gap. You can see at 3 trades, 2 in loss and one in profit.


First customer service I got in contact with:


ANSWER:

"In reference to your order # 7274218 Sell AUDUSD, please be aware that due to high impact of news release on the AUD currency pairs, the market faced high volatility, and there was huge gap in the market prices received. Please note that, since this was a Sell order, it'll be executed once the received ask prices from our LP either exceeds the stop loss order level or becomes lower than the requested take profit order level.


In your case, the ask price we received was lower than your requested TP and thus incurred you a loss, as it was placed in a negative direction.


Regarding order # 7274244 Buy GBPAUD, please note that, since this was a Buy order, it'll be executed once the received Bid prices from our LP either exceeds the TP order level or becomes lower than the requested SL order level.


In your case, the bid price we received crossed your requested TP and thus incurred you a loss, as it was again placed in a negative direction.


Kind Regards,"


Not satisfied, I feel upset as I really don't feel they want to sort out my problem with proofs and I asked them to escalate to a manager:


" I have attached the M1 charts for the trade I placed on the AUDUSD and GBPAUD and you can see from the chart that it is impossible that my stop was hit because the price you quoted as stop was way below the price and there is an up gap and an upside candle and the shadow of that candle doesn't even touch the price you quoted as stop. The same day I also placed another trade related with the AUD currency just before the RBA rate decision, I place a trade on the AUDJPY and as you can see you have correctly given me profit for that trade.

Please look closely at the charts attached.

Please answer me professionally attaching the tick charts of that very volatile minute and demonstrate me that you are right.

Why should you have given me profit to my sell AUDJPY trade and not to my sell AUDUSD and buy GBPAUD?"


MANAGER ANSWER

"Firstly please accept our sincere apologies for the delay in investigation.


In reference to your trade order # 7274218, Sell 0.03 AUDUSD got executed once the ask price (0.76271) which we received from our liquidity providers fell below your set TP order level (0.76590). Your other order # 7274244, Buy 0.25 GBPAUD got executed once the bid price (1.9228) which we received from our LP exceeded your set TP order level (1.91724). Please find the attached files for more information.


Please note that,
• The Take Profit order on an open Sell position is executed if the Ask price in the quotes flow becomes equal to or lower than the order level.
• The Take Profit order on an open Buy position is executed if the Bid price in the quotes flow becomes equal to or higher than the order level.


The price on MT4 chart is based on Bid price but not Ask price. Adding up the spread onto price on the chart (Bid price) you will get the actual ASK price which is not shown on chart. By default, MetaTrader will only display the bid price on the chart. If you would like to see the ask price than you will need to right-click on your chart and click 'Properties' and then click the 'Common' tab and make sure the box for 'Show Ask Line' is checked.


Also, in comparison to your other reference trade # 7274396, Sell 0.03 AUDJPY, you set the TP correctly in a positive direction, which resulted in a profitable trade. However, the TP in your trade order # 7274218, was set in a negative direction, much above than your opening price, resulting in loss as the price at which you bought back the contract to exit the position was still higher than the price at which you sold the contract to enter the position. At IC Markets, we would recommend you to monitor and adjust your SL and TP accordingly to get benefited from the market movements.


Here in your case, the trades executed correctly and there was no system execution error.


Thank you for your understanding and patience while we investigated your case."


I feel more satisfied with the answer and I see that the manager attached the trading journal about those orders (have attached them in this thread) and I accept the loss.


"Ok, I am analyzing carefully the data. Basically a lot easier explanation is that the GBPAUD and AUDUSD orders ended up in loss because the value of their respective take profit (that I had previously set) fell inside the big bid/ask gap that formed on their respective charts, another way to say it is that the take profit of those two orders backfired me. On the other hand, the AUDJPY order ended up in profit because the take profit of that order (that I had set) did not fall inside the big ask/bid gap but inside the big bearish candle. Please tell me if an explanation like this could work."


I have this final answer


"Your conclusions are correct in a way. A much easier explanation would be that, the take profits you set on your trades, were not placed in a favourable direction to make profit and yes they did backfired you. The take profits were placed in a direction as stop losses are placed. You may need to consider the opening prices of the trades and adjust your SL and TP accordingly to gain profit from market movements."


Now that you know all the situation feel free to review my experience and tell me what you think of the situation. I am still of my idea that as the market went my way I found hard to see how I could lose those trades. According to IC Market representative explanation I have learned something: during news a take profit can backfire you.


If there anybody that could give his opinion on this case it would be great!


Thanks in advance.
 

Attachments

  • AUDUSD gap take profit stopped.jpg
    AUDUSD gap take profit stopped.jpg
    627.3 KB · Views: 62
  • GBPAUD gap take profit.jpg
    GBPAUD gap take profit.jpg
    710.6 KB · Views: 66
  • ADJPY gap take profit.jpg
    ADJPY gap take profit.jpg
    673.9 KB · Views: 68
  • audusd quote.PNG
    audusd quote.PNG
    6.1 KB · Views: 65
  • audusd reports sent by customer service.PNG
    audusd reports sent by customer service.PNG
    55.2 KB · Views: 63
  • gbp aud reports sent by customer service.PNG
    gbp aud reports sent by customer service.PNG
    55.3 KB · Views: 63
  • gbpaud quotes.PNG
    gbpaud quotes.PNG
    6.8 KB · Views: 56
you have been a little late to realize that icm manipulating their mt4 platform to burn out client account

Once I gathered enough of my own info. of icm manipulating price I got the hell out of there, unfortunately this takes time!
 
Hello guys,


I would like to publish what happened to me using IC Markets. I start saying that I believe IC Markets is a good broker and definitely not a scam (as many others are), I have used it for the past 6 months and I found that the spreads are razor tight.


However I have found a couple of problems:


First problem: IC Market on the website says that they have servers both in NY and London, one would expect that according to the user location they connect him to the closer one. Wrong! In fact the London servers are only for user who use cTrader and the one in NY are for those who use MT4. So using MT4 I am obliged to connect to their NY server. The problem is that I live in Europe and my latency suffer a lot. I asked the customer service if there could be something that could be done about that and they told me "no".


Second problem: be carful with the backfiring take profit of sell/buy stop order during high volatility news. This is something that never happened to me before and I want to publish the whole story so that nobody finds themselves in the same situation.


I decided to trade the Australian Interest Rate news (3 May 2016). Before the news I place the pending orders on different currencies with take profit and stop losses to saddle the news.


Basically once the price jump up with a gap the orders get activated but as my take profit is inside the massive gap that form I found myself with a loss. I attached the image of the situation and I also publish the whole discussion I had when I opened a trade investigation form. I think that in this occasion the broker stopped me out taking advantage of the gap. You can see at 3 trades, 2 in loss and one in profit.


First customer service I got in contact with:


ANSWER:

"In reference to your order # 7274218 Sell AUDUSD, please be aware that due to high impact of news release on the AUD currency pairs, the market faced high volatility, and there was huge gap in the market prices received. Please note that, since this was a Sell order, it'll be executed once the received ask prices from our LP either exceeds the stop loss order level or becomes lower than the requested take profit order level.


In your case, the ask price we received was lower than your requested TP and thus incurred you a loss, as it was placed in a negative direction.


Regarding order # 7274244 Buy GBPAUD, please note that, since this was a Buy order, it'll be executed once the received Bid prices from our LP either exceeds the TP order level or becomes lower than the requested SL order level.


In your case, the bid price we received crossed your requested TP and thus incurred you a loss, as it was again placed in a negative direction.


Kind Regards,"


Not satisfied, I feel upset as I really don't feel they want to sort out my problem with proofs and I asked them to escalate to a manager:


" I have attached the M1 charts for the trade I placed on the AUDUSD and GBPAUD and you can see from the chart that it is impossible that my stop was hit because the price you quoted as stop was way below the price and there is an up gap and an upside candle and the shadow of that candle doesn't even touch the price you quoted as stop. The same day I also placed another trade related with the AUD currency just before the RBA rate decision, I place a trade on the AUDJPY and as you can see you have correctly given me profit for that trade.

Please look closely at the charts attached.

Please answer me professionally attaching the tick charts of that very volatile minute and demonstrate me that you are right.

Why should you have given me profit to my sell AUDJPY trade and not to my sell AUDUSD and buy GBPAUD?"


MANAGER ANSWER

"Firstly please accept our sincere apologies for the delay in investigation.


In reference to your trade order # 7274218, Sell 0.03 AUDUSD got executed once the ask price (0.76271) which we received from our liquidity providers fell below your set TP order level (0.76590). Your other order # 7274244, Buy 0.25 GBPAUD got executed once the bid price (1.9228) which we received from our LP exceeded your set TP order level (1.91724). Please find the attached files for more information.


Please note that,
• The Take Profit order on an open Sell position is executed if the Ask price in the quotes flow becomes equal to or lower than the order level.
• The Take Profit order on an open Buy position is executed if the Bid price in the quotes flow becomes equal to or higher than the order level.


The price on MT4 chart is based on Bid price but not Ask price. Adding up the spread onto price on the chart (Bid price) you will get the actual ASK price which is not shown on chart. By default, MetaTrader will only display the bid price on the chart. If you would like to see the ask price than you will need to right-click on your chart and click 'Properties' and then click the 'Common' tab and make sure the box for 'Show Ask Line' is checked.


Also, in comparison to your other reference trade # 7274396, Sell 0.03 AUDJPY, you set the TP correctly in a positive direction, which resulted in a profitable trade. However, the TP in your trade order # 7274218, was set in a negative direction, much above than your opening price, resulting in loss as the price at which you bought back the contract to exit the position was still higher than the price at which you sold the contract to enter the position. At IC Markets, we would recommend you to monitor and adjust your SL and TP accordingly to get benefited from the market movements.


Here in your case, the trades executed correctly and there was no system execution error.


Thank you for your understanding and patience while we investigated your case."


I feel more satisfied with the answer and I see that the manager attached the trading journal about those orders (have attached them in this thread) and I accept the loss.


"Ok, I am analyzing carefully the data. Basically a lot easier explanation is that the GBPAUD and AUDUSD orders ended up in loss because the value of their respective take profit (that I had previously set) fell inside the big bid/ask gap that formed on their respective charts, another way to say it is that the take profit of those two orders backfired me. On the other hand, the AUDJPY order ended up in profit because the take profit of that order (that I had set) did not fall inside the big ask/bid gap but inside the big bearish candle. Please tell me if an explanation like this could work."


I have this final answer


"Your conclusions are correct in a way. A much easier explanation would be that, the take profits you set on your trades, were not placed in a favourable direction to make profit and yes they did backfired you. The take profits were placed in a direction as stop losses are placed. You may need to consider the opening prices of the trades and adjust your SL and TP accordingly to gain profit from market movements."


Now that you know all the situation feel free to review my experience and tell me what you think of the situation. I am still of my idea that as the market went my way I found hard to see how I could lose those trades. According to IC Market representative explanation I have learned something: during news a take profit can backfire you.


If there anybody that could give his opinion on this case it would be great!


Thanks in advance.

All I can say is if it's happen to you once it will happen again and again until you change to good broker with good liquidity providers!

Only you can decide when you have had enough of the manipulation of prices and withdraw your money from this dodgy broker!
 
All I can say is if it's happen to you once it will happen again and again until you change to good broker with good liquidity providers!

Only you can decide when you have had enough of the manipulation of prices and withdraw your money from this dodgy broker!

Which broker would you suggest so? It has been hard for me to find a broker that has spreads as tight as ICM, from your thread I have clearly seen how they manipulated the chart to take your SL out, what do you think of Pepperstone. Do you think Pepperstone is fine?
 
Which broker would you suggest so? It has been hard for me to find a broker that has spreads as tight as ICM, from your thread I have clearly seen how they manipulated the chart to take your SL out, what do you think of Pepperstone. Do you think Pepperstone is fine?

Read my review on icm and see the other major problems I have run into with them ( slipping me on EVERY short entry) and I was only with them for about 1yr:mad:

I have not tested Pepperstone so I'm not sure what they are like, you could check the reviews on them here on fpa and other sites!

I'm Australian, so I go for Australian brokers and have been with AxiTrader 6-7years;)

Axi spreads are just as tight if not tighter than icm and apart from Axi changing server's when I first started with them which was causing platform freezers I have not run into any major problems, If I had I differently wouldn't have been with them for so long:)
 
This is the proof of how they are true ECN Market Maker lyers.. Please share these pictures on forex land so nobody does do any business with them anymore. If you are a market maker (wich Always resulst in costumer lose) Be honest but even there they are lying about it . It starts with lying with them and redrawing money is not possible. Please share as much as possible and learn from my stupid mistake to trust IC market makers lyers. I think it is a good idea to make a black list of bad brokers in a seperate.. But only the ones who have proof of it. Not bad review because somebody lose and is pissed. Bad review and pictures of bad mail exchange. SO everybody know to stay away from them. This IC Market Makers is deffenitly one of them. Then it would be much more easier to choose with whom to do business with and the brokers who are ont that list they know the end of their company is near cos costumers will run or don't come at all. The costumer should be the power.. Not the broker otherwise we have to break the power of the broker. The single picture is from IC Markets Maker cheaters and the double one is from another broker I deal with. They are scam.......PERIOD
 

Attachments

  • XM 1.jpg
    XM 1.jpg
    695.2 KB · Views: 61
  • XM 2.jpg
    XM 2.jpg
    368.2 KB · Views: 61
Last edited:
Back
Top