IFCMarkets oil trading problems

Blacklive

Recruit
Messages
2
Hi
Scam Broker with high level of scammers

I will tell my story with them in last few days,

I opened MT4 account with IFCMarkets with fixed spread and with 400 leverages, I made deposit 310$

I was going to trade with OIL, WTI and Brent,

First thing I faced, in the demo account the spread is 6 pips, and I surprised when I open real account I found the spread for OIL is 12 pips, I inquired about that, they told me it was mistake from them that the spread was changed in real accounts but they didn't do same in demo accounts :)

Second thing I faced, in the trading hours sheet, I saw the OIL market will close with them on Friday at 24:00 in my time, and I surprised that the market closed at 23:00, I inquired about that, the live chat couldn't give me any answer, they told me their office will answer me on next monday, and I got email from them saying the OIL market should close at 23:00, but they didn't give me answer why it mentioned in their trading hours sheet the OIL market will close at 24:00

NOW The Big Story

Last Friday, I tried to open trade 1.75 lot in Brent, and when I click on icon to open the trade, I surprised that it gave me only 1 lot and it skip the 0.75 of the lot, I inquired about that but no body give me any answer, they said they don't know why that happened, and I need to check with their office which will open on next Monday at 7am.

The 1 lot of Brent need 89.1$ of margin because I have 400 leverage in Oil, and 120$ for 12 pips spread, which mean I have free margin 99$

I really felt bad about that, the company never say anything correct and they are scam broker, then I decided to withdraw from them, I had free margin 99$, I made withdraw the 94$, it cut from my account, and operation was pending and in process.

After few hours I got email from them saying that, the withdraw rejected, because I don't have enough margin, and the amount will return back to my account !!!!

When I entered to my account I surprised again I saw that I have free margin only 10.45$ ???? where is the 99$ ???

I checked why of that !!!!!

The BIG SURPRICED

The company changed my leverage from 400 to 200 without informing me, and because of that change, the 1 lot margin need 178.2$ , with the 120$ for spread, which mean, the only free margin I have is 10.45.

I tried 10s times to contact via live chat support, they refused to help me, they said they can't do anything and I need to talk with office on Monday 7am.

The Game is Disclose

Now the market open and my account wiped !!!!

Be carful from the broker IFCMARKETS
 

FxMaster

Lt. Colonel
Messages
9,309
Hi
Scam Broker with high level of scammers

I will tell my story with them in last few days,

I opened MT4 account with IFCMarkets with fixed spread and with 400 leverages, I made deposit 310$

I was going to trade with OIL, WTI and Brent,

First thing I faced, in the demo account the spread is 6 pips, and I surprised when I open real account I found the spread for OIL is 12 pips, I inquired about that, they told me it was mistake from them that the spread was changed in real accounts but they didn't do same in demo accounts :)

Second thing I faced, in the trading hours sheet, I saw the OIL market will close with them on Friday at 24:00 in my time, and I surprised that the market closed at 23:00, I inquired about that, the live chat couldn't give me any answer, they told me their office will answer me on next monday, and I got email from them saying the OIL market should close at 23:00, but they didn't give me answer why it mentioned in their trading hours sheet the OIL market will close at 24:00

NOW The Big Story

Last Friday, I tried to open trade 1.75 lot in Brent, and when I click on icon to open the trade, I surprised that it gave me only 1 lot and it skip the 0.75 of the lot, I inquired about that but no body give me any answer, they said they don't know why that happened, and I need to check with their office which will open on next Monday at 7am.

The 1 lot of Brent need 89.1$ of margin because I have 400 leverage in Oil, and 120$ for 12 pips spread, which mean I have free margin 99$

I really felt bad about that, the company never say anything correct and they are scam broker, then I decided to withdraw from them, I had free margin 99$, I made withdraw the 94$, it cut from my account, and operation was pending and in process.

After few hours I got email from them saying that, the withdraw rejected, because I don't have enough margin, and the amount will return back to my account !!!!

When I entered to my account I surprised again I saw that I have free margin only 10.45$ ???? where is the 99$ ???

I checked why of that !!!!!

The BIG SURPRICED

The company changed my leverage from 400 to 200 without informing me, and because of that change, the 1 lot margin need 178.2$ , with the 120$ for spread, which mean, the only free margin I have is 10.45.

I tried 10s times to contact via live chat support, they refused to help me, they said they can't do anything and I need to talk with office on Monday 7am.

The Game is Disclose

Now the market open and my account wiped !!!!

Be carful from the broker IFCMARKETS
The FPA warned people back in 2012 and its still at the review page which you can check here https://www.forexpeacearmy.com/forex-reviews/107/ifcmarkets-forex-brokers
 

FxMaster

Lt. Colonel
Messages
9,309
Now, lets come to some suggestions to resolve your problem.........

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg
 

FxMaster

Lt. Colonel
Messages
9,309
Till then follow the below-suggested options to draw their attention on your issue

Invite them to join this thread via email (Send an email to every possible address).
Go to their website and invite them to here via Live Chat

You will find their email and address here https://www.ifcmarkets.com/en/contact-us

Also, share your story as a review here https://www.forexpeacearmy.com/forex-reviews/107/ifcmarkets-forex-brokers

You can also share your story on their social media pages mentioned below:





 
Top