Negative balance ICMARKETS

gaealica

Recruit
Messages
1
On April 23rd I had opened long on XTIUSD... Due to excessive volatility, trading on this product was interrupted for 3 minutes and as soon as it reopened I found myself with a negative balance of over 20000 euros. Later they write me an email warning me that my account is negative and that they can help me in this way: if towards the same amount of negative balance icmarkets resets the loss and credits me with the same amount paid, so it is as if I were zero and credit me how much I would pay. I have seen it on the internet and it seems that this scheme is often used by icmarkets and sincerely seems to me a ugly trick! if the guys are really honest then why not zero this negative balance and let the clients freely deposit as they like? Is it legal this way? How i can protect myself? I said that i don't want to pay that amount because i can't and because i think this is a fraud.
 

4evermaat

2nd Lieutenant
Messages
2,014
On April 23rd I had opened long on XTIUSD... Due to excessive volatility, trading on this product was interrupted for 3 minutes and as soon as it reopened I found myself with a negative balance of over 20000 euros. Later they write me an email warning me that my account is negative and that they can help me in this way: if towards the same amount of negative balance icmarkets resets the loss and credits me with the same amount paid, so it is as if I were zero and credit me how much I would pay. I have seen it on the internet and it seems that this scheme is often used by icmarkets and sincerely seems to me a ugly trick!


If it sounds to good to be true, it might be. It's a question of whether you are going to listen to your own common sense, or give in to your gambling/greed impulses. I suggest the former :)

I'm guessing they are counting on victims to indulge their gambling/greed impulse and deposit more. And trade again with TOO MUCH risk. You were trading with too much risk!!!
 

4evermaat

2nd Lieutenant
Messages
2,014
if the guys are really honest then why not zero this negative balance and let the clients freely deposit as they like? Is it legal this way? How i can protect myself? I said that i don't want to pay that amount because i can't and because i think this is a fraud.

You do realize that no a-book broker can sensibly offer negative balance protection. Unless the account has 1:1 or 1:10 leverage. Even then, they wouldn't want to do this. Where is the protection coming from? Taking the other side of your trade???

I encourage you to watch this:


and the full article is here: https://www.forexpeacearmy.com/comm...negative-balance-protection-under-esma.59583/ The mathematics applies worldwide.
 
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