ICMarkets - Withdrawal to Visa Card not going through

4evermaat

2nd Lieutenant
Messages
1,982
ICMarkets rep did not shw up.
I guess I am out of luck. Right?

1) you can create an AFCA complaint if you really feel your complaint is valid.

2) accept some loss, withdrawal to neteller/skrill/bank transfer, and go to a new broker.
 

The Reaper of F

Sergeant
Messages
198
You can give IC Markets a shot but I wouldn't, I have got a bad uneventful circumstance with them many years ago. Along filing some complaints, only then they would take your "case" serious enough to proceed. They are a bunch of crooks and thieves. My bank manager even quoted "If a bank transaction, specifically a withdrawal to your account took more than a week, it's suspicious that they haven't pull any trigger to fund it to your account, hence, call us and we will do the usual proceeding to file for a chargeback".

Anyways, unsubscribe from that shitty broker. They used to be called the A-list fx broker for a reason, now it's just a scummy bucketshop around the corner.
 

4evermaat

2nd Lieutenant
Messages
1,982
....They used to be called the A-list fx broker for a reason, now it's just a scummy bucketshop around the corner.

Actually, I have reason to believe they have been running a shop for quite some time. The complete removal of their "True ECN" references just a few months ago verifies what I am saying:

 

The Reaper of F

Sergeant
Messages
198
Actually, I have reason to believe they have been running a shop for quite some time. The complete removal of their "True ECN" references just a few months ago verifies what I am saying:

I watched the video prior, and when I saw the quoted phrase "Our strength in numbers", I almost puked my morning coffee off the chart.
 

Tradermx

Recruit
Messages
1
Am currently having the same problem of the credit saying its expired. Yet its still valid and cannot withdraw
 

FxMaster

Lt. Colonel
Messages
9,556
Am currently having the same problem of the credit saying its expired. Yet its still valid and cannot withdraw
If you are having a serious problem with a company, you should open your own thread in Scam Alerts and give details.

Why your own thread?

1. If the person who started this thread has their issue resolved, this whole thread will be marked as resolved.

2. Your thread can have a link from your review. This makes your issue more visible.

3. Issues can be different. Having your own thread makes it easier to get advice specific to resolving your issue.
 

stche76

Private
Messages
11
Hello everybody.

I am reaching to this court seeking for help with withdrawing money to valid Visa Credit Card via Visa Direct Method from ICMarkets AU.

The thing is that before creating my ICMarkets account, I contacted support to confirm if I was going to be able to withdraw money via the same Visa Credit Card I use to deposit. I explained that if Visa Credit Card withdrawals was not going to be available to me then I was not going to open an account with ICMarkets. This is because I know bank wires are too expensive for me (only my local bank charges US$80 and I do not know if the brokers' bank charges another amount). Support told me that if I make a deposit with an eligible Visa Credit Card via Visa Direct method, I was going to be able to withdraw money using that same method.

On 17 June 2019 I made my first deposit of US$500.... one week later, after providing a copy of my credit card, on 24 June 2019 I made a test withdrawal of US$50 using the same method, and this withdrawal was successful.

---------------
Note:
At some point during this time, I received an email from ICMarktes saying that due to regulatory developments within Australia, ICMarkets could not guarantee that it will be able to provide its services to clients residing outside of Australia, but a few days later they sent me other email saying "following the valuable feedback of all our clients, we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).
---------------

So far so good... I continued trading with the remaining of the money in my account.

One month later, on 29 July 2019 I tried to make a new withdrawal, but the money did not reach my Visa Credit Card account. Instead the money was deposited back to my ICMarkets account. As per an email I received from IC Markets "Please be advised that an attempt to refund back to your credit card account has been declined by the bank as your credit card has expired. Kindly provide an updated copy of your credit card before resubmitting your request". This is not true at all, my credit card was not expired, but still I resubmitted the copy of my card.

I reached ICMarkets support several times and they asked me to:
#1 - submit one more withdrawal request, and contact them if it does not go through.
#2 - They blamed my bank so they asked me to contact my bank directly. I visited my bank and I even escalated the case to a supervisor and a account specialists, and they guaranteed that my bank was not obstructing or declining the transaction. Actually the told that my bank had not even received any signal that there was a transaction coming my way, so they did not have any transaction to reject.
#3 - I reached ICMarkets support again, and they asked my to add other Visa Credit Card, make a deposit of US$1 and after that deposit I was going to be able to withdraw all my money to that other card. I did so, but it failed the exact same way.
#4 - I reached ICMarkest to escalate the problem and the rep told me that she sent a ticket to the accounts department. A few days later, Julie Dinh from IC Markets Accounts Team replied back kind of explaining they send the funds to their bank and that their bank received a rejection from my bank. (blaming to my bank again)... I reached my bank again, escalated the case and provided them with screenshots of what ICMarkets said, but my bank again confirmed that they were not rejecting the transaction, confirmed that my Visa Platinum Credit card was all good to receive money internationally, and that again they had not received any notification of money coming my way that they could reject.

So here I am many months later without my money. Support is not helping at all, I have done everything they told me to do, and lately they just tell me to submit new withdrawal request and contact them back if it does not work. They suggested to use a Bank Wire, but it is too expensive for me (I do not want to pay US$80 to withdraw less than US$500).

Is this something I can get help with in here?

Thanks in advance
Hi Hamlet,

Rest assured that IC Markets is not out to SCAM you. I have been with IC markets for a number of years and so far, I have always received my withdrawls within 24 hours. I am using Ewallet (Skrill) which is the fastest way to deposit and receive money. Do ask IC Markets to provide you with a transaction code or receipt (whether approved or rejection) which serves as a form of evidence before you approach your bank.
 

forexteamau

Sergeant
Messages
141
Hello everybody.

I am reaching to this court seeking for help with withdrawing money to valid Visa Credit Card via Visa Direct Method from ICMarkets AU.

The thing is that before creating my ICMarkets account, I contacted support to confirm if I was going to be able to withdraw money via the same Visa Credit Card I use to deposit. I explained that if Visa Credit Card withdrawals was not going to be available to me then I was not going to open an account with ICMarkets. This is because I know bank wires are too expensive for me (only my local bank charges US$80 and I do not know if the brokers' bank charges another amount). Support told me that if I make a deposit with an eligible Visa Credit Card via Visa Direct method, I was going to be able to withdraw money using that same method.

On 17 June 2019 I made my first deposit of US$500.... one week later, after providing a copy of my credit card, on 24 June 2019 I made a test withdrawal of US$50 using the same method, and this withdrawal was successful.

---------------
Note:
At some point during this time, I received an email from ICMarktes saying that due to regulatory developments within Australia, ICMarkets could not guarantee that it will be able to provide its services to clients residing outside of Australia, but a few days later they sent me other email saying "following the valuable feedback of all our clients, we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).
---------------

So far so good... I continued trading with the remaining of the money in my account.

One month later, on 29 July 2019 I tried to make a new withdrawal, but the money did not reach my Visa Credit Card account. Instead the money was deposited back to my ICMarkets account. As per an email I received from IC Markets "Please be advised that an attempt to refund back to your credit card account has been declined by the bank as your credit card has expired. Kindly provide an updated copy of your credit card before resubmitting your request". This is not true at all, my credit card was not expired, but still I resubmitted the copy of my card.

I reached ICMarkets support several times and they asked me to:
#1 - submit one more withdrawal request, and contact them if it does not go through.
#2 - They blamed my bank so they asked me to contact my bank directly. I visited my bank and I even escalated the case to a supervisor and a account specialists, and they guaranteed that my bank was not obstructing or declining the transaction. Actually the told that my bank had not even received any signal that there was a transaction coming my way, so they did not have any transaction to reject.
#3 - I reached ICMarkets support again, and they asked my to add other Visa Credit Card, make a deposit of US$1 and after that deposit I was going to be able to withdraw all my money to that other card. I did so, but it failed the exact same way.
#4 - I reached ICMarkest to escalate the problem and the rep told me that she sent a ticket to the accounts department. A few days later, Julie Dinh from IC Markets Accounts Team replied back kind of explaining they send the funds to their bank and that their bank received a rejection from my bank. (blaming to my bank again)... I reached my bank again, escalated the case and provided them with screenshots of what ICMarkets said, but my bank again confirmed that they were not rejecting the transaction, confirmed that my Visa Platinum Credit card was all good to receive money internationally, and that again they had not received any notification of money coming my way that they could reject.

So here I am many months later without my money. Support is not helping at all, I have done everything they told me to do, and lately they just tell me to submit new withdrawal request and contact them back if it does not work. They suggested to use a Bank Wire, but it is too expensive for me (I do not want to pay US$80 to withdraw less than US$500).

Is this something I can get help with in here?

Thanks in advance
Hi Hamlet,

I'm sorry to hear about your case. I can confirm that they are a dodgy broker. I have a thread about those who have lost money with them and victims are increasing everyday! but from what I experienced they do not bother with small amounts like $500 but still depends, if you opened your account with their SC, they already know that you hands are tight so they might give you a little run around. Ask them for some evidences showing those transactions were rejected when they transferred it to your card. If they insisted on wire, I would say pay that little fee and take your money back and run for the hills. You are still lucky you haven't invested much with them. Take it as a lesson and stay away from this broker.
 

Ferrita

Recruit
Messages
2
Hi Hamlet,

I'm sorry to hear about your case. I can confirm that they are a dodgy broker. I have a thread about those who have lost money with them and victims are increasing everyday! but from what I experienced they do not bother with small amounts like $500 but still depends, if you opened your account with their SC, they already know that you hands are tight so they might give you a little run around. Ask them for some evidences showing those transactions were rejected when they transferred it to your card. If they insisted on wire, I would say pay that little fee and take your money back and run for the hills. You are still lucky you haven't invested much with them. Take it as a lesson and stay away from this broker.
Any updates? Was the matter with ICmarkets resolved?
 
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