ICMarkets = Scam

[WFC]

ICMarkets is a real scam broker! STAY AWAY!!!

I had 3 accounts at ICMarkets and another account on Saxo. With SNB debacle the ICMarket accounts lost over 14k while Saxo account lost 200euro's with exact same robot. All 3 ICMarket accounts had exact same trades copied from 1 to another.

ICMarket was sending illegal/fiction prices for USDCHF during the news. Regarding all financial reports, including Bloomberg, USDCHF has never ever been on that price. The difference between actual price and ICMarkets price is over 2000pips!!!
You can see all my trade details here!

After 3 weeks of calling, several emails and promisses that they will adjust the trades to the right price, all they say was this:
'Upon further review of your accounts, our trade desk have assessed that there are no pending adjustments on your accounts as the rates have been verified as correct by our liquidity providers and stopouts occurred correctly. During the SNB announcement, spreads were extremely wide, and as there was uncertainty by the banks on where to price the CHF pairs there was no liquidity as a result.'

These 3 accounts lost all together over 14k and had same trades. They adjusted trades on 1 account with 740euro's (which is nothing if you look at the loss). But the most crazy thing is that they say the trades on the other 2 accounts don't need adjustments while they have been traded on the same price.

All they do is blame the liquidity providers which they chose by themselfs. When you don't know where to price a currency why do you just send fiction prices? and allow trades on those prices? Saxo just blocked tradings and did send real prices. On ICMarkets graph you can see USDCHF went down all to 0.04, which should mean: USD doesn't exist anymore.

This is just steeling money from traders by sending fictionary prices to MT4.

I'm now sending a letter to Australian Securities and Investments Commission (ASIC) to investigate this as ICMarkets is not taking this seriously.

Are there more people affected and have the same problem with ICMarkets? i'm sure they are!
I think its better to send several complains to FOC and ASIC with same subject. Together we may be more strong!
If anyone wants to join me on this, my emailadress: fariwar@ezorg.nl

 

[bigdolly]

Have you requested audit or tried to invite them to comment your situation?

 

[Master Yoda]

For some reason IC Markets are having many problems with FPA members

Send them an invitation to join this thread

 

[RahmanSL]

...uhmmmmmmmm....there seems to be an increasing numbers of complaints against ICMarkets here at our FPA and other sites/forum.

 

[NanaR]

WFC did u get any money back?

 

[leste]

These thieves will wait for this thread to die away like my account.
Traders take whatever fund you have left and go before you go down with this sinking ship.

 

[leste]

Have you requested audit or tried to invite them to comment your situation?

Hi mate,icmarkets don't care about complaints on fpa anymore especially when relatively huge amounts are involved;my case for instance.
I believe they took a big hit on the Subject move and their clients have to pay for it regardless of what they make us believe.

 

[NanaR]

Have you requested audit or tried to invite them to comment your situation?

they are aware and they dont care. i did ask about audit and they were very dodgy. kept avoiding subject and then suddenly had excuses. said busy and some other crap, cant reply and chased me out of their live help chat. what does that tell you?

and yes, they are aware of threads here but cant be bothered to reply. but they are busy replying in forexsignals.com for Nick's group (one of their biggest IB there).

 

[erkan_iii]

Yes I have no doubt that Icmarket is a big fraud, I had an account with them and i can see how the can manipulate the prices to force losses even in news trading they steal your money. Once i have a news trade which was in my direction and i had a profit of 490 USD when i close it to secure the profit they took half of it, and when i asked the one in charge their answer was and i am quoting "to refrain traders from trading the news".

They should not interfere the trade if they are a true ECN. But they are not. They are a big SCAM and a close my account with them. I am warning you to deal with ICMARKET or any Cypriot broker or has its company originated in cyprus even if it operate on Europe or any other part of the world.

 

[NanaR]

Looks like our initial assumption that icmarkets was indeed getting staff or paid reviewers to post 5 star glowing reviews to offset the low ratings genuine victims gave them, is indeed true.

Thanks to forexpeacearmy for removing Joshi ratings ICMarkets.com | Forex Brokers Reviews | Forex Peace Army. Apparently, he is an Indian staff of icmarkets since he writes from the staff email, yet pretends to be a retail trader like us in other forums too, and will keep singing their praises and saying how excellent wonderful and unparallelled they are... and even lied about how he and his friends got "readjusted" for SNB losses even before the newspaper article was published on them (when nobody else got readjusted and whining in forums)?

Yet he was also unable to post any proof or provide screenshots to prove he indeed had adjustments before January 29. He was also very defensive in the other forums and singled out people who had valid arguments against icmarkets which led to suspicion he has vested interest in this brokerage, which turns out (lol) to be indeed TRUE lol.

Would a genuine really honest broker need to do this? See? They are definitely SCAMMERS. If you are a victim, report to ASIC and Scamwatch! Alert the authorities so they can put an end to their scammy ways.