NOT GUILTY PER REGULATOR Case# 2015-004 | psunardi vs icmarkets.com

[Surrealistik]

I'll be honest, I just don't think there's enough evidence to prove wrongdoing beyond reasonable doubt. Like csloh said, huge lot sizes and overleveraged positions relative to a small account size.

I will agree however, that IC Markets should have forwarded some kind of official response on the matter however.

 

[Gladiator76]

i'm voting guilty too. ic markets too much scam on mt4. but after i changed to ctrader, ic markets can't manipulate my price anymore haha.

Although this is true, they can still screw you with withdrawals or cancel your trades for some lame reason. The fact is that a dishonest broker will try every possible way to screw traders no matter what system is used.

 

[Pharaoh]

Although this is true, they can still screw you with withdrawals or cancel your trades for some lame reason. The fact is that a dishonest broker will try every possible way to screw traders no matter what system is used.

That's the fatal flaw in cTrader. The broker can't tamper with the trade results, but cTrader promises to not comment when a broker declares some (or all) profitable trades to be "illegal" or against the rules in some fashion.

 

[Gladiator76]

That's the fatal flaw in cTrader. The broker can't tamper with the trade results, but cTrader promises to not comment when a broker declares some (or all) profitable trades to be "illegal" or against the rules in some fashion.

Unfortunately that's right. But I would still rather use cTrader instead of MT4 since it gives me the peace of mind that my trades are not being interfered with.

 

[RahmanSL]

All trading platforms have their flaws and I would dare say these platforms are always designed to give the designer's clients (i.e Brokers) an added advantage over the actual users (i.e Traders).

 

[psunardi]

All trading platforms have their flaws and I would dare say these platforms are always designed to give the designer's clients (i.e Brokers) an added advantage over the actual users (i.e Traders).

yes i agree with you.

 

[AsstModerator]

I have a message from Sung...

It looks like the complainant has complained to the wrong party- ASIC. May I suggest that the client go directly to FOS (Financial Ombudsman Service) who we have to answer to and a member of.

Financial Ombudsman Service

 

[psunardi]

oke thanks

 

[RahmanSL]

I have a message from Sung...It looks like the complainant has complained to the wrong party- ASIC. May I suggest that the client go directly to FOS (Financial Ombudsman Service) who we have to answer to and a member of Financial Ombudsman Service.

FOS basically act as an arbitrator and...in my opinion....not much effective for complicated cases.
The correct party...again in my opinion.... to make a misconduct report to is to ASIC who is the governing Regulatory body.

Attachment screenshot is of form to use to file a complaint/report which I shall be doing next week or so.

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Asst Moderator:

Okay, now that we have a "scam finding verdict", surely there must be some follow-up action(s) to publicize the finding to the forex community.

Perhaps, and as a suggestion, post the FPA finding verdict at all the other forums/sites which are friendly and receptive to such impartial information to warn as many Traders as possible about so-and-so broker/service provider/funds manager/whatever.

 

[dkami]

This is nothing more than a trader over leveraging and can't trade for ****,then blames the broker when they loose their account!
It's that bloody simple sheeple!

What broker's platform doesn't freeze on occasions during high impact news? Come on if this was a competent trader they would have priced this in to their risk factor!!!!!!!!!!

I havn't the time to do a long post @ this time but I will say this about ICM,

I opened a live account with ICM @ start of 2015 then there was the unexpected swissy news mid Jan, I was falsely MC and I could prove it to ICM and they reinstated all my trades!

Now I'm not defending ICM but this was the case with me!

To the OP, Don't trade money you cant afford to loose and never over trade because it won't matter what broker you go with, you will be right back here filing another scam on every broke that you use!

Not Guilty