Stop Losses removed themselves (ICMarkets)

Constantino

Private
Messages
27
I have traded the news events about 20 times with ICMarkets so far and that is the thing that got me deep in forex trading thanks to early great success however very recently I had 3 consecutive news events trades where my stop loss removed and a trade hanging there unprotected like an idiot.

I'm aware of slippage where you are entered in the market on a very far away price than the one you submitted one at but c'mon..... having my stop loss removed smells **** to me and losing way more money than I'm willing to risk.

Why are they able to open my trade then, if they can't trigger my SL????????

All these trading risk warnings and good angel advisors evaporating by having a stop loss removed, this is ****.

ICMarkets already have a court case in here.

Would a VPS solve that?

Is Stop Loss removal a normal thing in the forex world and that I need to accept it? Or what?

I have all 3 trades recorded btw.

Thanks in advance for the replies!
 

Constantino

Private
Messages
27
EDIT: I even added 0.1 pips SL in one of them but still.

Here is their response

Dear Constantinos,

Kindly be advised we have checked your your reported case regarding PID29391646 in full, and can confirm that your SL @1.71622 was correctly triggered and filled, once we received an ask price higher than this from our liquidity providers.

If you refer to the attached tick data, you will see that the ask price moved from 1.71621 to 1.71623 in just one movement, triggering your SL.

When you trade in a true ECN environment, your orders will be filled at the first available price once these have been triggered, in this case @1.71623 . Please note that all fills are fully automated via the ECN network, with zero interference from your Broker. We have highlighted in the tick data above where your order was triggered, and where it was subsequently filled.

When trading during news announcements, wider spreads and less than optimal fills are highly likely which is not isolated to IC Markets but is generic across any True ECN broker you trade with.

Regarding positions PID29437760 and PID29398992 we can see that that the SL values were not placed at the time that the pending orders were activated as they were within the BID-ASK range. If you refer to the attached tick data for PID29398992 you will be able to see that the relevant ASK price was @1.90553 while your requested SL was @1.90590 and for PID29437760 you will be able to see that the ask price was @1.92349 while your requested SL was @1.92370. Please note that a valid SL/ TP value can not be placed withing the spread range.

We hope this clarifies the trade in question for you, please do not hesitate to contact us should you require anything further.

Kind Regards,

Christos Ioannou | Customer Support | IC Markets



Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. International Capital Markets Pty Ltd. ACN 123 289 109. AFSL No. 335692.

Notice to recipient
The information in this email and any attachments may contain confidential and/or privileged information. It is intended solely for the addressee(s). If you are not the intended addressee, please notify the sender immediately (and destroy this email and any attachments from all computers). Any review, copying; redistribution in whole or in parts of this email or its attachments or any other action in reliance to this email or its attachments is strictly prohibited.

© 2019 International Capital Markets Pty Ltd | All rights reserved.



Attachment(s)
economic_calendar_22.2.19.png
PID28437760.png
PID29391646.png
PID29398992.png
 

Attachments

FxMaster

Lt. Colonel
Messages
7,893
I have traded the news events about 20 times with ICMarkets so far and that is the thing that got me deep in forex trading thanks to early great success however very recently I had 3 consecutive news events trades where my stop loss removed and a trade hanging there unprotected like an idiot.

I'm aware of slippage where you are entered in the market on a very far away price than the one you submitted one at but c'mon..... having my stop loss removed smells **** to me and losing way more money than I'm willing to risk.

Why are they able to open my trade then, if they can't trigger my SL????????

All these trading risk warnings and good angel advisors evaporating by having a stop loss removed, this is ****.

ICMarkets already have a court case in here.

Would a VPS solve that?

Is Stop Loss removal a normal thing in the forex world and that I need to accept it? Or what?

I have all 3 trades recorded btw.

Thanks in advance for the replies!
First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: If you are new to FPA then invitation button will be enabled when your first post reaches 4 days old.

Till then follow the below-suggested options to draw their attention on your issue

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address https://www.icmarkets.com/client-area/contact-us/
Also, Share your story as a review http://www.forexpeacearmy.com/forex-reviews/8264/www.icmarkets.com

You can also share your story on their social media pages mentioned below:

https://www.facebook.com/icmarkets

(Click on more and you will find write review option there)

https://twitter.com/IC_Markets

https://plus.google.com/+Icmarketsforex

https://www.youtube.com/user/ICMarkets


Note: Don’t forget to update your review/s when you got solution of your problem, Best Of Luck :)
 

Riperson

Private
Messages
15
I have the same issue, If they don't refund I am suing reddit.com/r/Forex/comments/ax9q00/icmarkets_removed_my_stop_loss_while_i_was/
 

4evermaat

2nd Lieutenant
Messages
904
I have the same issue, If they don't refund I am suing reddit.com/r/Forex/comments/ax9q00/icmarkets_removed_my_stop_loss_while_i_was/
@Riperson please open your own separate scam alert thread and include evidence there.

@Constantino can you please upload the video? Can use YouTube, vimeo, Dropbox, Google drive, etc.

Normally it is a good idea to handle your stops/tp internally (e.g. via EA) and not let them rest with Broker.. . For this exact reason. Not saying that makes ICM's behavior justified.
 

Riperson

Private
Messages
15
All Position Protection Setup Failures





Having watched all videos, The position should have been stopped out instantly after entering even if price went below your stop as that is what you set it to be. (and it raises huge concern as you would be left without a stop for that reason for unlimited losses) however the stop entry order could have been ignored by your broker if the price went below your stop and not executed at all in my opinion as that would make more sense.

Stop orders generally have one job to execute if price falls/rises above certain price, they don't care how much price moves past them, and in your case that rule was ignored by ICMarkets broker.

You are generally in the right here as broker ignored what you wanted the system to do.

As a higher level support has resolved my case I will link them to this thread and let them know there are further glitches to fix.
 

4evermaat

2nd Lieutenant
Messages
904
Why don't you use screen recording software like snagit, bandicam, camtasia, etc. ? Especially in your case, you are trying to hold the camera and interact with the desktop. (bandicam is the best IMHO) and it can be automated.

I would try replying back to the IC Markets support issue again. If riperson's resolved case is of any consequence, then I wouldn't be surprised if they also credit your losses if it was due to the stop loss glitch in cTrader.

edit: riperson has replied here already. But here is the link to give you some encouragement. https://www.forexpeacearmy.com/community/threads/resolved-icmarkets-removed-my-stop-loss-resulting-in-approximately-5000-of-extra-losses.59369

----
 
Top