Resolved: IC MARKETS DONT TRUST THEM WITH YOUR TRADING

4evermaat

2nd Lieutenant
Messages
1,964
Hi guys.. I got my full funds back..

It is always good to see FPA cases that are resolved. @FPA Forums Team @AsstModerator can you please mark the thread appropriately?

Also don't forget to update your review https://www.forexpeacearmy.com/forex-reviews/8264/icmarkets-forex-brokers?per-page=50


Please note ic markets is now a raw spread not ecn broker..
There old stuff used to say no manipulation.. It's not mentioned now ‍♂



You can see at minute 1:04 that the archive.org capture from 01 August 2019 shows the difference (previously they SHOUTED "True ECN" all over the place.

I have a lot more footage from their older advertising on this.









Now there is nothing wrong with market making. Just be honest about it, eh? Even now, the revised advertising is still very deceptive. The FAQ page explanation of ECN is so cute

...IC Markets is the issuer of the products it provides. We consider ourselves to be a forex provider offering the ECN pricing model as we source our pricing from external unrelated liquidity providers via an ECN, these prices are passed onto you with no dealing desk intervention. In order to provide you with better price certainty and to ensure fast execution speed we do not offset each and every position with our liquidity providers. We do this in order to provide you with a better overall trading experience....
[emphasis mine]

IC markets admits that they do not 100 percent agency model.png

But isn't a "True ECN" experience the best for the end trader? or an execution model that mirrors True ECN??? With the reports in the FPA forum of people getting stop losses removed, disconnected accounts, et al....is this mirroring a True ECN experience?
 
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The_onesie_trader

Private, 1st Class
Messages
25
This is the best..
Bottom one says true ecn no manipulation from 2 months ago.. now it's raw spreads

We don't need market makers in fx...they're bottom feeders like think markets placing a plug in on my account.. that **** won't end well for them
 

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4evermaat

2nd Lieutenant
Messages
1,964
Ok, so even that you got your money back, they are not a recommended choice?


Just because they decided to "do the right thing", doesn't necessarily make them broker of the year. You have to consider the intent of it. Was it a genuinely honest mistake, or was it willful manipulation on part of the broker? Will they likely do it again (maybe in a less obvious way)?

Or put it another way: when you go to your bank (teller) or ATM, how long does it take to make a withdrawal?
Can you deposit $1000 (with no transactions in between) and come back next week and it is suddenly $500?

I guess some [compulsive gamblers] just like to suffer. It's your money after-all, correct?

Please re-read post #31

edit: It's all about intent of the broker. If they suddenly change their advertisement after YEARS of claiming to be "True ECN", then what model were they running all those prior years????
 
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