Resolved - IC Markets Tools Misconduct


Hello Forex Peace Army, I would like to get your opinion on an issue that I'm experiencing with Icmarkets

I'm basically a trader that trades the spike of the news, there was a popular software EA I think so you might know what I'm doing.

I'm using a popular autoclicker that enters in the news relatively fast.

I needed a broker with

- fast execution
- Stable spreads even at news.
- No freezing during news
- No increased slippage as size would go up

And Icmarkets seemed a great broker for it, however, it seems they really don't care that much about protecting customers losses.

A great technique for entering the news is triggering the S/L and T/P right when you press Buy or Sell.

Icmarkets STILL offers a a one click trading tool : and as of today you can still visit it and there's no notice that the tool is no longer supported

One of their representatives recommended me this tool, so I used it.

Today I traded the GDP Mexico, but wanted to use a different strategy for this particular news release rather than the spike one.

I traded the USD/MXN, I set the one click tool at SL at 10 pips and 20 pips for TP. I used a relatively big size as I wanted to check if the broker would slippage with a bigger size, but still the stop loss was set at -5% of account total, everything was calculated using myfxbook position tool.

I wait for the news to come out, I wait a little bit how market reacts and I enter the trade with a SHORT, I was DEAD sure the autoclick would set the S/L and T/P, but sadly it didn't and I realized it too late.

The trade went opposite direction, probably for a revision or for USD related factors and by alot of pips, I realized with terror I was burning my account as USD/MXN was making a 208 pips candle on TF1

I then realized the tool entered the trade, but then notified setting S/L T/P failed

For some reason the traded closed at 893$ left in the live account(2000$) probably an accountsafety measure from the broker, I don't know. So over 60% burnt because their bloody auto clicker didn't work.

Furious, I got on the live chat and asked explanations about the issue, and the representative told me the tool was no longer supported and she was surprised and apologized after she realized the tool was still advertised. She then pointed me the new tool called Mini terminal which works flawlesly.

The representative told me the ECN broker cannot guarantee stop losses, but I smelled bull**** because those were decent trading conditions and no influx on the servers, I knew for sure it was the out of date tool.

In fact, I tested it on live with 0.01 size and the tool out of 10 orders failed to place 4 SL and TP, that is totally unacceptable. The tool wouldn't even work on a demo account, clearly the tool is out of date, as a matter of fact, the newer one didn't fail a stop loss over many many orders.

Obviously I have all the evidence, chat transcripts(except for the rep didn't warn me the auto click tool was out of date)

I understand stop losses aren't guaranteed, but these are extreme scenarios, here the stop loss failed only because of their tool that was out of service/maintenance.

In this case should the broker refund me the lost funds minus the preset stop loss amount? I don't think the ASIC would like something like this, I understand that forex is risky, but if you contribute on denying a customer of the stop loss feature that is a complete rip off fron my point of view
Send ICMarkets support the link to this thread. Invite them to come here and explain the issue with the software and what they intend to do about it.
Send ICMarkets support the link to this thread. Invite them to come here and explain the issue with the software and what they intend to do about it.

Hello Pharaoh, yes I'm speaking with the Ic markets over email, they asked me for logs and I sent them proof, also I'm attaching a screen with some alerts of failed SL and TP placement (Note: 2 failure in a row, unacceptable)


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The manager said will honor the stop loss as clearly the software opened the position in a non safe way, once it's done I'm asking the mods to edit my post or ideally completely delete it, thank you
They have reimbursed me the lost amount, kudos to ICmarkets few brokers are that honest and take responsibility of such mistakes. Moderators please edit/delete this thread as it might look as bad publicity. Thanks