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Problem ICMarkets issues

I am having an issue with a company
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omega-ko

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33
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.
log DB.pnglog of terminal.pngscreenshot from ICM.JPG
 
This is precisely what I was trying to warn people about. Not surprised you have this problem... I had it too and they always tell me it's LAG or some **** on my end, or the liquidity provider books are too full so my orders filled as the "next available price" which is usually WORSE than what you set.

ICMarkets.com | Forex Brokers Reviews | Forex Peace Army I am Ramona from Singapore there, tried to make account but the validation email NEVER comes to my yahoo.com so I am using facebook now to post.

Bottom line, ICM is a scam company. I just found out last week IC Markets = ETORO ASIA PACIFIC gonna show you PROOF. Since they are ETORO, i am not surprised we have this problem you know? Freezing, orders not being filled at the right prices, etc. Staff is incompetent and DONT ever sign up for their VPS. Its a way they make more money out of you via referral fees when u sign a VPS.

I signed up their recommended VPS, still lag/freeze and they NEVER refund me or help me. I gotta mention these guys are pretty smart. They only start their nonsense when u start to double or triple account. Those people earning measly 5-10% will never experience this.

You should follow me and report them to the australian authorities.
 
Ok, here is some proof they are actually etoro.

View attachment 17729 this is from etoro itself.

Gyazo - 9fc77fc0f0826ce976dcae6d21cd93ed.png this from ASIC registry itself
Gyazo - b25479e8f6a264337034eb517a9cee30.png this from ASIC officer itself

They cannot be true ECN as long they are etoro, who is famous as a MM. Why don't you lodge a complaint with Contact details :: Financial Ombudsman Service too? The more people complain, the authorities will look into the matter... I still want to know why only ICM terminals (mt4 and ctrader) keep getting the weird lags and freezes? I have 2 VPS, and one if it is even recommended by them yet still had this problem? Other brokers, no issues.

Concluded this is a very dishonest company. I would actually like the authorities to investigate these freeze/lag which has been reported by so many people. According to ICM, nobody else but me reported and I should not trust reviews on this website (forexpeacearmy) too. They also claim to be the ONLY true ECN broker in Australia if not globally. I can provide all this in PDF form to senior members here.
 
Go ahead and send ICM a link to this thread. Ask them to come here and provide some details.
 
Last reply from ICMarkets:

Hi Yuri,

I have called our vendor Metaquotes in regards to your specific issue. Normally you would see an 'insufficient funds' message from the platform when there is not enough margin available to place the trade, however in some circumstances it is possible to receive an 'off quotes' message as there has been a rejection from the Metaquotes Omni Plugin. To re-iterate, your trade attempt has been rejected by the platform due to reaching stop out level of 80% and the order has never reached our liquidity bridge. The stop out could have been avoided by adding additional funds or closing out positions.

Kind Regards,

Sung Choi | Support Team Leader | IC Markets

My answer:

Hi Sung,
I don't agree with your position, as I wrote earlier.
Until you prove that 04:32:05 17th Nov GMT+2, I really came into stopout, you are not right. All your arguments are based on an assumption that your system can not give an error, and on this basis you are looking for the possibility that my order was rejected because of stopout. I don't have to prove that your system has occurred error. If only because I do not know and need not know your system. But you must prove a stop out in 04:32:05 17th Nov GMT+2. If you want to judicial proceedings, the experts will give a conclusion about the possibility of errors of the bridge ECN- MT4 and under what circumstances this is possible. But again I repeat that on several traders forums of ECN MT4 brokers I found topics about the imperfection of the bridge and the occurrence of such situations. In the dialogues Brokers were forced to agree with traders and restored positions or doing other actions for compensation of loss.
You do not want to cooperate and engage in dialogue. You never answered one of my question and not one objection, but continues to insist on your version, ignoring my version and documents of your server.
 
Hi Yuri,

I don’t want to make this a long thread, so I will keep this short as I believe that I have responded to your questions already in our emails.
We would be unable to reimburse you for the loss that you incurred on the position you had on the EUR/USD trade ID 12103963 as the stop out occurred correctly once your margin level was at 80%. You may have been able to keep your position viable a little longer if your attempt to open a trade in the opposite direction was successful, as this would have freed up some margin, however as mentioned the trade attempt was unsuccessful due to a rejection from the platform as you were at stop out level.
You have requested multiple times for proof of the order attempt being rejected by the liquidity provider, however logs can only provided if the order reaches our MT4 bridge which it did not in this case.
If you have any other questions or would like to have a phone call, I will make myself available to you. You can call at anytime on +61 2 8014 4280.

Kind regards,

Sung Choi | Client Service Team Leader | IC Markets



"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."
 
Hi Sung,

1. "We would be unable to reimburse you for the loss that you incurred on the position you had on the EUR/USD trade ID 12103963 as the stop out occurred correctly once your margin level was at 80%."
You have not provided any evidence that the stopout has been reached when I tried to open the order. On the contrary, I have provided a screenshot of the log of your server sent to me by your manager where you can see that the stopout has been reached 2 seconds later. Thus, if you correctly opened my order in the opposite direction, the stopout would not have taken place. As I wrote, very soon, the pair retreated from those highs, and as you can see now, my accounting was correct and my position, closed by you, would be in a big profit now.
2. "You may have been able to keep your position viable a little longer if your attempt to open a trade in the opposite direction was successful, as this would have freed up some margin, however as mentioned the trade attempt was unsuccessful due to a rejection from the platform as you were at stop out level."
I'm not responsible for your platform, but you are responsible for implementation of trade conditions according to which I have opened an account in ICMarkets. Under these conditions you had to open my order, which was not open despite trading conditions that led to the stopout. However, no matter what was the cause of the failure of trading conditions: platform, technical failure, overload the server or something else. ICMarkets are responsible for any of these in front of me. Maybe you can put the same suit next to someone else.
3. "You have requested multiple times for proof of the order attempt being rejected by the liquidity provider, however logs can only provided if the order reaches our MT4 bridge which it did not in this case."
as valid documents there are logs of your server. Why don't you want its to provide? Obviously, because it shows in my, and not in your favor. Such selectivity in the provision of evidence and your reasoning says, sorry, about your dishonesty.
 
3. "You have requested multiple times for proof of the order attempt being rejected by the liquidity provider, however logs can only provided if the order reaches our MT4 bridge which it did not in this case."

clarification and addition: I DO NOT have requested multiple times for proof of the order attempt being rejected by the liquidity provider, and only asked for some proof of your claims about the occurrence of the stopout on my account was before placing my order
 
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