Icmarkets.com or Icmarkets.au International Capital Markets PTY ltd.

[av8188]

I would like more senior FPA members who trade at IC markets to help here and join the discussion I have reason to believe if Rahman has aud 100k or less then you might as well be in that range. It is a group effort here I cannot single handedly bring them down because they have the monetary power to buy off lawyers as I have read and heard many cases about people going against AUS FSP's to the ASIC and have just been quietened. The level of corruption in this industry is crazy. I wish some regulatory body reads this in public now because they the ASIC have yet to respond to my email and according to their website its 2 days normal turnaround from the ASIC and yes its been 2.

 

[Surrealistik]

Been with IC Markets for more than a year now and aside from an overloading instance last summer where its popularity outgrew its infrastructure (an issue which has since been corrected with the addition of two new servers), haven't had any problems with this broker whatsoever, from withdrawals to trading. That said, I do look forward to seeing how this all plays out.

 

[scream007]

I agree with the poster in this matter , they have a problem in their servers during market news , they say that they will fix this problem in future , if this problem persist i will change them .

 

[av8188]

lets look at the obvious moderator not accusing but its obvious that Surrealistik is either affiliated with IC markets or is an IB or an employee you have access to all his posts, please look at them ever since he has joined nothing but on the defense or aggressively marketing them, praising them just a simple observation,.... and scream007 yes no broker 7 years in a row in the business can have the same problem repeatedly yet these guys do first 2 years fine but the same damn excuse again and again... what does this mean? Who is talking about withdrawals Surrealistik...they will pay you out fine then whats 8000$ when they have paid me out before? Also look at the fund manager with them a 100k plus account his case was never heard. I am talking about trade logs being deleted that's a serious crime its in the FPA course preparation folder so run before you are caught also senior FPA members have seen it. Scream007 as a request you might be a client of theirs please stop immediately and as I had said earlier do what I say its for your benefit only I am just waiting for the cheated people to search Ic market reviewsy to all join this discussion. And surrealistik you just exposed your self blatantly also because of the fact so many people mask themselves in this business to make an extra buck or two what do you start of your thread with again defending them; We are high volume traders we are here to make more than just 1000$ each time entering the market; I really don't care about getting compensated here as I have sufficient capital saved up; I am here to expose the truth what happens after that is worth more for me as a human being to see that others who start off and know who to survive in this market do not repeat our mistakes. Soon in 2 years there is a big regulation change coming up which will crack down all the crooks out there ever wonder why the volume has died down so severely this year yet stock markets, cfd's, derivates, options all are booming on Forex... hmmm might want to think about that...just waiting for that moment this is not a small accusation i am making i have nothing to hide my friend.

 

[Angus Jon Walker]

Hi Anand and others,

please refer to my post on page 1 that was just approved. It has an explanation for our stance on this case.

Lets also keep the discussion to facts, your case and IC Markets position as explained in my earlier post.

Kind regards,

Angus Walker | Head of Trading Desk | IC Markets

 

[Pharaoh]

Av8188, attacking an established FPA member because he reports a different experience isn't going to get your issue fixed.

What would help would be a much shorter description of exactly what the issues are.

You are angry because trades failed to activate during NFP. Angus has offered an explanation for this. If it had happened to me, I'd be angry too, but I wouldn't call a failure to execute pending trades during one news event on one day to be proof of a planned scam.

Can you concisely explain what your other complaints are?

 

[Jeff Michaels]

I have been with IC markets now for 4 months or so. I have chosen them after extensively researching brokers for 1.5 months. I'm not a real experienced trader this is my 3rd live account after doing some other stuff for the last 3 years. My account size is only 3k and i trade BE-ish so far.

I mainly trade exotics and usually with pretty wide stops and no TP because they can spike pretty hard and i like to close by market. I also experienced off-quotes during last nfp not being able to close partially on a huge spike but managed to close it eventually about the same price, although it had went down considerably before moving back up. But this wasnt the first time and it wasnt as bad as that either. The first time it happened it lasted for almost 15 minutes and the difference was neglectable in the end (also due to account size) but during that 15 minutes it went into the red pretty badly before recovering with me hitting close repeatedely and i could have easily closed for a pretty big loss if it would have closed. Very stressfull all in all.
About the MM, today I experienced for the second time that I felt hunted. I checked the quotes on yahoo finance, bloomberg, and forextraders.com and some other sites but forextraders comes closed and would have missed my stop by a 1.5 the rest are well above 4 pips.
Does anyone know a site where i can check historical quotes ?

 

[av8188]

So why delete my trade log?

 

[av8188]

Hi Anand,

Before I begin you should know that you only have the ability to seek compensation if you lodge an official complaint with IC Markets. To date I have requested you do this four times, however, you have not done so.

IC Markets has acknowledged to yourself and other effected clients that we did experience a technical issue during the NFP/ECB announcement on July 3rd. A technology provider who we use for aggregation and order matching, ‘Integral’, experienced a load issue which caused orders to reject. When this occurred the pricing from Integral remained online as did the MT4 server. because of this we have full transparency of prices and clients actions throughout the announcement.

As a gesture of good faith we have been honoring clients stop loss and take profit orders. This has been done on a case by case basis and the majority of clients who have sought compensation have already been dealt with and reimbursed.

We have not honored entry orders whether they are winners or losers. It is important to understand that forex brokers have the ability to reject a trade, to refuse to deal, to not quote a price and so on. Whilst this is completely against the IC Markets business model and the image we’ve spent so long building, it is actually a necessity in order to remain a ‘True ECN’ broker.

Why?

In a nutshell, IC Markets doesn’t like risk. We sleep well at night knowing that the position that we hold with our prime broker matches exactly what our clients have in our trading platforms. I.e. if IC Markets clients are net long EURUSD 10M then we will also be net long 10M EURUSD with our prime broker. This means IC Markets doesn’t have risk and this is the way we like it!

Every trade executed in MT4 is first executed in the underlying market with one of our liquidity providers (LPs). IC Markets cannot and will not execute a trade in MT4 (or cTrader) unless it has been confirmed by an LP first. If we execute a trade in MT4 that hasn’t been executed by an LP then we have risk (which we don’t like).

In the case of the NFP/ECB announcement on the 3rd, trades weren’t able to be executed with the LPs so they rejected in MT4 and clients trying to trade likely saw the ‘off quotes’ message in their terminals.

So, if we can’t execute a trade with our LPs (for whatever reason) then we do not execute trades in MT4.

Clients with open trades during such circumstances have ‘risk’. These clients are our priority as we appreciate that risk is bad so we want to help them… we can close positions over the phone and will also seek to compensate them after the fact once all the dust has settled..

Anand, since you were trying to execute new trades we are not providing compensation. As above, we will not execute your trades in MT4 if we can’t execute them in the underlying market first. To do otherwise would go against our business model and effectively make us a market maker. Our stance with this is consistent with forex brokers, prime brokers, liquidity providers and technology vendors globally.


Kind regards,

Angus Walker | Head of Trading Desk | IC Markets

You state all these things again countering what you state on the public review page showing you posting a vimeo video of people through a vps allowed to execute trades??? Also why modify my trade log if you are so honest?

 

[av8188]

director of IC markets used to work as head of compliance of CMC

The plot thickens further the Director of IC markets was head of compliance at CMC markets i viewed his LinkedIn profile. CMC markets has terrible reviews on FPA.... I have attached screenshots before he has chance to delete/edit his LinkedIn profile attached in word format.