Riperson
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I posted all details of this on Reddit and comments section there may act as good FAQ about this whole case.
reddit.com/r/Forex/comments/ax9q00/icmarkets_removed_my_stop_loss_while_i_was/
To simplify the whole process I will just dump whole HTLM file where you can actually open up the images and files I forwarded to support and read my entire conversation with them.
Wait for Admin to clarify in the comments if the file is safe.
mega.nz/#F!RjxTxQ4J!n7BB8D2xDI5gvytlyLIVCg
If they do not want to cooperate then I would like to gather a list of people that had an issue of their stop loss vanishing for an open position, (if your stop got executed at bad price, that's a different case then) Looking exclusively for anyone that had their stop losses removed off your position without your consent. Which happens exclusively if you also had Smart-Stop outs at the same time to my knowledge.
And we could gather up to present this case in a class action lawsuit. I do not think this is only limited to ICMarkets as they specified this was an issue with Spotware/Ctrader, which could be responsible for multiple brokers, however this does not make brokers not guilty, they provide the service and they are responsible for it, as you sign up and deposit with your broker.
I am not guaranteeing that I will lead this case against them as they may just end up compensating me, which is unlikely but it's a good idea that we start grouping together already and I would be glad to help others fight this exact issue.
Please send me a direct message and I will create a Telegram/Skype group if we exceed 5 members.
reddit.com/r/Forex/comments/ax9q00/icmarkets_removed_my_stop_loss_while_i_was/
-- Reddit Thread Start
I had a Stop loss set on GBPUSD Long and when it was supposed to hit the stop the stop automatically cancelled itself 10 milliseconds after the price went below my stop.
The market wasn't making any big moves during that time at all.
The following day I woke up to having around £200 in equity instead of having around £5000
As highlighted in the screenshot above I was getting Smart-Stop outs which were modifying the Stop-Loss every time Smart-Stop out was triggered, It wasn't done by me or any bots, but rather that's what was being done automatically by their internal operations.
But as soon as price fell below my stop it removed and ignored my Stop. (which shouldn't be possible as you can't cancel a stop loss once the price has went below it), to further prove my point I did not use any opposite side or double tick stop loss, but the default one.
Also confirmed by my log that I have set my stop and never removed it:
I contacted them and explained the whole situation, and they had the nerve to link me to "what is a stop loss is" as if I have no clue what it is... yes I do and you cancelled it.:
Then I sent this reply, (showing key points I made):
Their reply:
I think its a glitch on their end, but you never know if they remove stops on purpose, that's why this is totally unacceptable.
I wrote this article to show some warning to others and also to document this case and perhaps gain some support against them.
I Sent them this:
UPDATE:
Their latest reply:
I had a Stop loss set on GBPUSD Long and when it was supposed to hit the stop the stop automatically cancelled itself 10 milliseconds after the price went below my stop.
The market wasn't making any big moves during that time at all.
The following day I woke up to having around £200 in equity instead of having around £5000
As highlighted in the screenshot above I was getting Smart-Stop outs which were modifying the Stop-Loss every time Smart-Stop out was triggered, It wasn't done by me or any bots, but rather that's what was being done automatically by their internal operations.
But as soon as price fell below my stop it removed and ignored my Stop. (which shouldn't be possible as you can't cancel a stop loss once the price has went below it), to further prove my point I did not use any opposite side or double tick stop loss, but the default one.
Also confirmed by my log that I have set my stop and never removed it:
I contacted them and explained the whole situation, and they had the nerve to link me to "what is a stop loss is" as if I have no clue what it is... yes I do and you cancelled it.:
Then I sent this reply, (showing key points I made):
Their reply:
I think its a glitch on their end, but you never know if they remove stops on purpose, that's why this is totally unacceptable.
I wrote this article to show some warning to others and also to document this case and perhaps gain some support against them.
I Sent them this:
UPDATE:
Their latest reply:
My replies:
Thanks for reading!
-- Reddit Thread End
Thanks for reading!
-- Reddit Thread End
To simplify the whole process I will just dump whole HTLM file where you can actually open up the images and files I forwarded to support and read my entire conversation with them.
Wait for Admin to clarify in the comments if the file is safe.
mega.nz/#F!RjxTxQ4J!n7BB8D2xDI5gvytlyLIVCg
If they do not want to cooperate then I would like to gather a list of people that had an issue of their stop loss vanishing for an open position, (if your stop got executed at bad price, that's a different case then) Looking exclusively for anyone that had their stop losses removed off your position without your consent. Which happens exclusively if you also had Smart-Stop outs at the same time to my knowledge.
And we could gather up to present this case in a class action lawsuit. I do not think this is only limited to ICMarkets as they specified this was an issue with Spotware/Ctrader, which could be responsible for multiple brokers, however this does not make brokers not guilty, they provide the service and they are responsible for it, as you sign up and deposit with your broker.
I am not guaranteeing that I will lead this case against them as they may just end up compensating me, which is unlikely but it's a good idea that we start grouping together already and I would be glad to help others fight this exact issue.
Please send me a direct message and I will create a Telegram/Skype group if we exceed 5 members.