ICMarkets.com Review Visit site

Updated: Apr 8, 2020
International Capital Markets, Raw Trading Ltd
3.428 · 960 REVIEWS
Is this your company?
February 4, 2016:  The French AMF has issued a warning about unauthorized forex brokers.  ICMarkets is on that list.  CLICK HERE to verify.

January-February 2015:  A large number of suspicious and fake positive reviews have been submitted for IC Markets.

Other websites of this company include ICMarkets.com.au and ICMarkets.eu

About ICMarkets.com

ICMarkets is a forex broker. IC Markets offers the MT4, MT5 and cTrader trading currency platforms. ICMarkets.com offers over 60 currency pairs, cryptocurrencies, indices, futures, stocks, gold, silver, commodities and cfds for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:500:1
Minimum to Open Live:$200
Established:2007
Address:Level 6, 309 Kent Street, Sydney, NSW 2000, NSW 2000, Australia
Contact:info@icmarkets.com, +61 (0)2 8014 4280
Regional offices:
Regulators: ASIC #AFSL No. 335692, CySEC #362/18, FSA-S #SD018
Prohibited countries:
Trading platforms:MT4, MT5, cTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies:(60+)
Cryptocurrencies:(10+) Bitcoin, Litecoin, Ethereum
CFD:(215+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
ZuluTrade: Yes
Deposit Methods:Bank Wire, VISA, MasterCard, Bitcoin, BPAY, ePayments, FasaPay, Klarna, Local Bank Transfers, Neteller, PayPal, Poli, Rapid Pay, Skrill, Transfer from Existing Broker, UnionPay
Withdrawal Methods:Bank Wire, VISA, MasterCard, Local Bank Transfers, Neteller, PayPal, Skrill

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3.428 · 960 REVIEWS
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Consumer Reviews

Panama, Panama,
Apr 6, 2020,
Registered user

They admit error, but wont refund money

Service use: Live

Length of use: over 1 Year

Ok so they have contacted me admitting they messed up again the bank information and sent it somewhere else, but eventhough they accept the fault is theirs they will only be willing to refund the money lost if the bank they sent the money to returns it.

If they accept their mistake shouldn't they refund the money to the customer and solve their problem? why would I have to pay for their mistake

Unbelievable!

Apr 2, 2020 - 1 Star Have been client for over 2 years, I tried to withdraw money a couple of months ago and they messed up my intermediary bank information, basically they sent the money to another bank. They acknowledge their mistake and 3 weeks later the funds where returned to the account, had to pursue with other ticket the money they had taken for the mistake, about 50 dollars.
I was assured after several tickets and emails that the issue was solved and have proof of alllll the tickets.
Last week I decided to withdraw money again and it went smooth so I felt confident that actually the problem was solved, so I made another withdrawal attempt and guess what? they again changed my bank instructions and sent the money who knows where, I have cops of the swift messages.

So given this situation I don't feel confortable working with them anymore, I want all my money so I ask for a withdrawal via Visa Direct, guess what it was denied, sooo I tried via my Skrill account, guess what??? again denied!!!!

So basicaly I can't withdraw the money, Im out of money they sent to another bank and won't be responsible for it, what can I do?, I wrote again and told them to chose the method to refund my money, I don't care I want all my money back but they are yet to answer.

Their chat is useless for this cases, and their response time is beyond acceptable,

Please if someone can give me info on how to proceed to recover my money, I'd really appreciate it.

Ticket numbers:
944221
928456
943164
806894
819270
454612
  3 traders have found this review helpful
Singapore, Singapore,
Apr 6, 2020,
Registered user

I wish i had read the reviews before trusting ic market

Service use: Live

Length of use: over 1 Year

Stole money from withdrawals. Close off my trades when I am profiting about a million usd from them and emptied my entire account. Trust them if you are prepared to lose all your money
  1 trader has found this review helpful
Sydney, Australia,
Apr 6, 2020,
Registered user

Gold spike

Service use: Live

Length of use: over 1 Year

I was also adversely affected by the gold spike on the IC Markets platform on the 26th March 2020. My trade was opened almost a week earlier, and gold had rallied $100 over this time. To hear that they’re treating my trade and profits as void for no reason other than their own pricing issue is disheartening. I figured it may have been an oversight and that they would do the right thing so have held off on posting until now. A week and a half later and still not a word from IC Markets. They’ve definitely lost my confidence and my account.
  1 trader has found this review helpful
Mahammad nasim azam,
Uk, United Kingdom,
Apr 4, 2020,
Guest

Hi

Excellent very good adviser I'm very happy best broker would recommend to everyone keep it up
 
barcelona, Spain,
Apr 4, 2020,
Registered user

Good broker

Service use: Live

Length of use: over 1 Year

Good broker, only that it makes information errors, it does not warn you when spreads rise or when swaps change, they are the only 2 serious errors it has, otherwise, it is very good. I hope they will be solved soon.
 
Cape Town, South Africa,
Apr 3, 2020,
Registered user

ALERT: WITHDRAWALS IMPOSSIBLE, COMMUNICATION IMPOSSIBLE

Service use: Live

Length of use: over 1 Year

If you're trying to withdraw from ICM, whatever method you choose will be rejected.

Emails to support@icmarkets.com will be returned with rejection message "receive rate too high".

Impossible to speak to them.
Impossible to withdraw.

Bye Bye ICM

Apr 2, 2020 - 2 Stars IC Markets doesn't have my vote anymore.

When the going gets tough, they widen spreads, for weeks on end.
They punt themselves as a market-leading broker, offering some of the best spreads in the industry, but this claim doesn't hold.

Understandably, markets have been volatile. But traders talk, and not all brokers have resorted to the kinds of spreads IC Market currently offers.

IC Markets - review your claims and what you're currently offering. There is a huge difference. You've lost me as a customer.

Now - to get my money out of my trading account, THAT's another story! I will leave a separate review just for this. Makes me think ICM is going under?
 
London, United Kingdom,
Apr 2, 2020,
Registered user

Adjustment not received and being ignored

Service use: Live

Length of use: 6-12 Months

These scammers had a fake drop on gold of 100USD and had made me massive losses! They promised an adjustment a week ago within a few business days and have still not done it & instead have completely started ignoring me & refusing to give me back the money they falsely took. Planning to take legal action against them. Don't trust them!!! They are stealing everyone's money!!
  4 traders have found this review helpful
london, United Kingdom,
Apr 1, 2020,
Registered user

Illegitimate close of Gold trade

Service use: Live

Length of use: over 1 Year

On the 26th of March some traders may recall the spike down on the Gold pair ... well if you dont you can check the charts on the day in question.

My gold trade parameters are as follows:
Entry :1607.08 , stop loss: 1621.85. Take profit: 1563.76.

however IC markets close my trade out @ 1604.89 , I hasten to add that they have offiially been in touch and have agreed that the closure should not have happened and i will be refunded however that was 4 working days ago and I am yet to receive my due profit.

It's hard enough developing a proftable trading strategy but to have to circumvent unreliable brokers is just a different ball game entirely this is why i limit the amount I trade with them.

Forex Peace Army thanks for your platform

Sep 20, 2019 - 5 Stars IC Markets staff took the time to contact me and the ticket raised has been explained and resolved.

Sep 15, 2019 - No Rating 1800021017 - Account number,deal ID- 11436130, XAUUSD sell trade placed @ 1488.36 , stop loss@1493.28 .
trade was closed @ 1503.54 (lot size 0.04)

Ticket ID -653994

will post a review based on the outcome of the resolution.
  4 traders have found this review helpful
Hanoi, Viet Nam,
Apr 1, 2020,
Registered user

They compensated for my should-have profit position

Service use: Live

Length of use: over 1 Year

Follow up the case I posted before, ICMarkets agreed to compensate for my should-have profit position that they deleted. The compensated amount is not equal to the profit I should have, but it's reasonable and acceptable. I appreciate their goodwill gesture.

Mar 30, 2020 - 1 Star I opened a Buy XAUUSD order at price 1516.10 at [2020.03.23 15:10:03]. Price was moving up and I was still holding that position.

Then suddenly, at [2020.03.26 07:23:00] their XAUUSD quoted price dropped dramatically to 1500.68 (about 1000 pips away from current market price) and hit my SL. This crazy price didn't exist on the market actually. It's an error from an liquidity provider.

Some brokers I trade with also had this error, but they fixed it for me by reverting back that Buy position to opening status as before and my Buy position was still having floating profit as normal.

I asked ICMarkets to do the same thing. They took a whole week to check the issue and finally only compensated my irrational loss and deleted my profit position, while that position should have a huge profit at the moment. Please note that my position was opening for 3 days before the error occurred, it was not opened at the error moment to take the advantage.

I'm so disappointed. I'm asking them to check the issue again. If they still steal my profits, I will take legal actions.

Reply by IC Markets submitted Apr 1, 2020 As mentioned, on 26/03/20 at 07:23 UTC we experienced an issue with off-market pricing and execution on all Gold symbols.



IC Markets has issued an explanation to all clients affected; however, we are reviewing trades on a case-by-case basis and we appreciate your patience as our team works towards resolving this with you. Our team will be in contact with you to rectify your balance.



We apologise for any disruption caused by this situation and thank you for your understanding.
  3 traders have found this review helpful
Singapore, Singapore,
Apr 1, 2020,
Registered user

bad withdrawal service

Service use: Live

Length of use: over 1 Year

I not sure if any of you encounter this? My fund was not receive is almost 3 weeks and they provide me with ANR number which my bank said that they are unable to locate my fund. Recently I have issue withdrawal from IC is already quite a few time.

Jan 30, 2019 - 4 Stars After many emails with ic market, we manage to sort out the negative balance issue. Very glad that they willing to help look into. I will still continue trading with them.

Jan 15, 2019 - 1 Star Please note that IC market do not provide negative balance protection. My experience with them was always good but after this flash crash incident it change my trust with them. My stop loss was not trigger during that time due to flash crash and my account end up in negative. When I communicated with them they said they cannot do anything. But I saw they helping other customer restore their negative balance. It is very unfair. So please be aware of that. If you are trading with them you are putting yourself into more risk than other broker. Please do not be cheated by the word ECN. You do not know what you get yourself into.

Jan 11, 2019 - No Rating I have been with ic market for more than 1 year and was really disappointed to recently know that they do not have negative balance Protection. Due to recent flash crash on jpy my account in live 12 & 14 all got into negative and it did not trigger the SL. My other account on live 5 and 3 is fine. But overall as a trader i find it that ic market will not be a good plaform for trading because even you have stop loss you still have chance that your account goes to negative and they will just said is the you did not manage your risk well.

Personally think that even you manage trade with SL and there is still certain percentage that you will go in debt then this brokerage is a high risk broker because you do not know when you will get in debt with any of the flash crash. I propose if you wanna look for broker find those with negative balance Protection so that you have a ease of your mind in trading.

Hope those who read this review not to be the next disappointed customer. Please do not because they have low spread and true ecn mean they are good broker.

Reply by IC Markets submitted Jan 31, 2019 Dear Thirsty84,



Thank you for your feedback about your experience with ICMarkets.

We are very sorry to hear that your account has been affected during the flash crash on January 3rd.



We can see that after communicating with our support team everything has been resolved to your satisfaction, please reach out to our 24/7 support team should you require anything further.
  2 traders have found this review helpful

Frequently Asked Questions

What is the minimum deposit for IC Markets?

IC Markets minimum deposit is $200 for all available account types.

Is IC Markets a good broker?

The the best way to answer if IC Markets is a good broker is to read the unbiased traders reviews on Forex Peace Army. https://www.forexpeacearmy.com/forex-reviews/8264/icmarkets-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent IC Markets community discussions: https://www.forexpeacearmy.com/community/tags/icmarkets/

Does IC Markets have negative balance protection?

IC Markets does not offer Negative Balance Protection and your loss may exceed your account balance.

However, to try to protect you from situations like this, IC Markets accounts have stop-out level set at 50%.

This means that when margin falls below this level the system will start closing positions automatically.

In nearly all cases this should prevent the account balance going negative.

Where is IC Market based and where are its servers located?

IC Markets headquarters are based at Level 6, 309 Kent Street, Sydney, NSW 2000, Australia.

IC Markets Trading servers are located at the Equinix data centers in New York and London also known as home of multiple exchanges and trading platforms.

Is IC Market regulated?

IC Makets holds regulatory licenses from:

  • ASIC in Australia (AFSL No. 335692)
  • CYSEC in Cyprus (362/18)
  • Seychelles Financial Service Authority (SD018)

Does IC Markets allow scalping?

IC Markets welcomes all trading styles including:

  • Scalping
  • News trading
  • Hedging.