RESOLVED - ICMarkets.com.au (International Capital Markets) platform freeze - spreads - swaps

[panoslev]

On friday 5/4/2013 during news time 13 30 to 14 30 the platform freezed I had position of CADJPY and wanted to close to 95.37 but the platform was frozen for more than 10 minutes losing the something 50 pips I had for the position. It unfreezed just when the trade lost this gain. When price action started moving to the same favorable direction for me, it freezed again. Trying to hedge etc was impossible...This is not the first time that the platform freezes. I have three videos showing this initial price around 94.80 cadjpy pair, then price at 94.37 and 94.40 trying in the video to close the position (hedge) and that was impossible.


spreads are widening even by 17+ pips for pairs that they do declare maximum 1.2 pips

even if they pretend low spreads experience the swaps for hedged opened positions and you will reconsider. Better to have 3 pips stable spread than these swaps that surge like a knife to cut you profits and balance.


check videos and screenshots for what i 'm saying



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[Pharaoh]

Check the fine print. A lot of "fixed spread" brokers mention that spreads may widen at times of high volatility or low liquidity.

 

[panoslev]

I agree ICMarkets.com.au (International Capital Markets) the third broker I 'm dealing with I know spread widening during volatility time but when you declare on documents that you spread maximum will be 1.2 and you then have 15-17 + pips then it's a total different thing.

 

[panoslev]

On the 6/4/2013 after the platform freeze I contacted IC Markets. I mentioned the above case and they do recognized that there where some trades affected from the unfortunate freeze of friday 5/4/2013. Mr Angus the head of platform support team persuaded me for the thorough investigation of my opened positions and after that I received a message and a phone call to be refunded for the opened trades affected. We discussed over the issue also of spread and we concluded that it was an isolated case of the day as there was a technical issue with the server. I 'm satisfied with IC Markets prompt reaction and problem solving.

 

[Pharaoh]

I'm glad to see this got resolved.

Now if only we could just get more traders and brokers talking to each other in a rational fashion. Then it would quickly become very obvious who's a scam and who isn't.