IC Markets Review

Very good spreads and also a really great customer service ! very easy to use.
tried multiple brokers but this one is the best in overall. dont look any further if ur still searching for a broker :) 10/10 broker

IC Markets is a great broker, low spreads, good trading conditions, great customer services, amazing platform/website and you can find many different options to deposit and withdraw your funds!

Very good spreads, everything works perfectly - withdrawals / deposits - all excellent. Highly recommend this broker.

Very Good Company good withdrawals, very quick, trustworthy, have never let me down ever

Since last year i was a certified Pro customer on ICmarkets, aussie branch and has been in aussie branch since I started with them

In Mar 2021, they needed to follow Asic Product Intervention. what happen next was a chaotic, inconsiderate short sightedness

1) ALL my demo acct whether its mt4/mt5 (ctrader not affected) were INTERNALLY reduced to 50 although on the mt4/mt5 accoount login info, it was 500 leverage. I was also told by support that due to this change, in future ALL my demos even if i created them in my client profile (which is that of a Pro client) will be 50 and that i needed chat with support to set the leverage back to 500

2) I requested an urgent fix but was left for 24hours with many back and forth. Later these demos were indeed fix to 500 leverage which they were created with. ICmarkets also did some fixes to the demo account creation

a) ICMarkets did not reply to my ticket that leverage was fix with 500 and i had to start another chat to realised that

b) ICMarkets also did not communicate that fix was done such that in future any demos I created will be whatever leverage i had selected. I had just created another demo and was on chat again to ask to change the internal leverage when the support staff told me that its already 500 internally

c) support staff showed me the email communication which was sent earlier that stated the changes to demo accounts but I didnt receive such an email and certainly its not in my spam either. I requested a re send of email, but did not received it

I also requested an account manager to call me and was promised that this request was forwarded but did not received a call (I was given to understand from ICMarkets site that an account manager will be available for pro client). Obviously i failed to understand that ICmarkets only intend it in writing and nothing more

ICMarkets failed in considering this change that now affects a pro customer and on top of it failed to communicate the resolution of issues and the followup of issues.

Although its a demo account, I used this to run EA to test their functionality and its important for me to adjust as such

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After this matter, i thought thats the last of my issues, and i raise a ticket to RM department to create a new ctrader account which will serve as a signal account.
The ctrader account was created with a logical leverage of 500. From the top of the ctrader screen its 500 leverage but internally was also set to 30

I was monitoring the trading and realised that i could not open another trade of 0.02lot (1st trade was 0.02 and there were no further trades on the account as this account was new). Message was not enough margin

I created a ticket from 4.59am (GMT+3) or about 9.59am SG time (GMT+8) to have this fix to 500 leverage. Earlier a support staff told me that my ctrader accounts are not affected when i ask to investigate all my live mt4/mt5/ctrader accout internal leverage settings

After waiting till 1.15pm SG Time (GMT+8) Matthew Hancock reply to my ticket to tell me that my leverage was set to 30 and i needed to transfer my accts to Global branch as per Asic regulations. This reply was obviously without checking my client status of Pro settings

I also failed to understand how RM department can create a ctrader account whereby the status show 500 leverage and internally set to 30.

I raise another ticket for this matter as its urgent that I get it resolved before trading tomorrow as this is also a signal account.

Again not surprisingly I didnt get a call from an account manager which i even raise a form to get a call back and to request a call back in my ticket. I waited more than 6 hours and this was pushed to the back burner, all due to a staff that did not check my client status and the absence of the account manager which could have help me resolve this issue faster
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3rd major issue: My client login password and username
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All along i login to ICmarket client portal using my username eg abc
All of a sudden ICmarket made a change to this by using email login instead. As usual ICmarket again FAILED to communicate with me that this was changed

I could NOT login despite giving correct password as the internal system does not verify against username but by email instead. After 3x, I click on reset password. The system generated a reset password email that stated my username, abc and new password.

I tried with this temporarily created password and my username and got rejected again despite I used copy and paste to ensure password i entered was correct as per the reset password email. I use reset password 2x and got rejected 2x and these 2 emails stated clearly my username = abc, not my email as username

After this i got on chat, and thanks to a support staff that helped with online tools Teamviewer, I showed hiim what happened and he ask that I click forgot password. I show him the previous 2nd email and he realised immediately after I typed my username that it was wrong. I should have used email to login instead of username. In order to login, I had to follow his instructions to click forgot password and finally system decided that i am all ready to burn down ICmarkets and stated username=my email with a temporarily password

That worked. The support staff told me from now onwards i needed to use email to login. When i ask why i never received communication on this important matter, his reply was "We didnt realised that its affected for those using username"
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ICmarket has very poor planning and very poor execution of services to clients. They have grown too large to care or be considerate before they execute any plans

This year alone,
1) ICmarket change client login to email instead of username, there is NO communication whatsoever. The 2 emails for the reset password stated my username and not my email thus it confused and frustrated me further. Even email generated for this reset password cant get it correct

2) ICmarkets change my demos internally to 30 leverage failed again to communicate despite my Pro client status

3) ICmarkets fix my demo leverage failed to communicate until i chatted with support to learn of it

4) Icmarkets fix the system such i could create a demo and it will have the leverage i choose but failed to communicate such changes

5) Icmarkets has now changed my new ctrader acct internal leverage to 30 failed to fix this process for Pro customer and failed in training staff like Matthew to check before reply

6) ICMarkets failed to ask an account manager to call me and to understand the issues i faced despite their promise of an account manager

Service good
Commission Fee low
Spread low with Rawspread account
Processing Fund and Withdrawal good

this company has very good spreads, but widened greatly at end of US session for an hour so be careful. Service is reasonably good, tracking was easy. Deposit, withdrawal...no problem at all. I have been with them for 1+ years, and am fairly happy with the service. I just worry about bigger money account and how they would handle it, especially now that my account is being moved offshore due to ASIC new rulings. I will report if there's negative experience.

My to on USDCAD yesterday was closed even if the SL is 17 pips away from the acctual price, good thing i was able to move my stop loss to profit before it was closed.

Also the USDCAD chart was different in 1H timeframe that to those charts from other broker.

I can provide screenshot upon request

excellent spreads and range, excellent user interface and easy to use. Has good tools to help with trading. Very good service 10/10

I recommend icmarkets, for the following:
low spreads
easy to take the money from the account
customer service team, friendly and very helpful in resolving issues