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ICMarkets.com (International Capital Markets)
Review

Overall Rating:

(3.640)

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Total Reviews:

166

Last Updated:

2015-04-13

Description:

IC Markets are forex brokers. IC Markets offers the MetaTrader 4, MetaTrader 5, MT Mobile, and cTrader global forex trading top platforms. ICMarkets.com.au offers over 60 of the most traded currency pairs, indices, and commodities for your personal investment and trading options.

Special Notes:

Other websites of this company include ICMarkets.com.au

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

Click here to join live discussion of ICMarkets.com (International Capital Markets) on our forum

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COURT

Cases

Open – 0 |
Not Guilty – 0 |
Guilty – 0

 

REVIEWS

FPA Review Moderation Team, USA

Rating:

No Rating

Date of Post:2011-10-13

Review:

We haven’t tried a forex trading account with ICMarkets.com. If you’ve traded forex with this broker, please leave a review here.

RahmanSL, , Malaysia

Rating:

Date of Post:2015-04-13

Review:

@June Green….yes, ICMarkets has a very bad habit in blaming their clients on abnormalities happening on their trading platform…to them, the fault is never on their side but from their client’s side.

Please post your problem at the thread dedicated to ICMarkets (link at top of this page) so other Traders can read your issue(s) with ICMarkets too.

2015-04-03 2 Stars I have been a client for over a year and used to trust this broker.
However, I had a recent account stop-out (one of at least 6 of them with this broker) which I find very strange and unusual. All positions were hedged on the USD/CAD and I was monitoring the account which had over 450% margin level. All of a sudden, and completely without any margin-call and forced closure of highest losing positions, the account went blank and show a negative balance of -USD30.27
I contacted Support and three different personnel gave me different reasons for the account stop-out and, of course gave me the obvious reasons for the stop-out which I informed I am very familiar after having numerous stop-outs with more than 10 different brokers through over 4 years in trading the forex market.

One logical explanation on why that account was stop-out in such a strange & unusual manner is that the leverage was readjusted which will trigger instant account stop-out without the usual margin-call warning…..or there is a glitch in the blocker’s server.

Since late 2014, I have started experiencing other abnormalities on this broker’s trading platform, but these experiences are very difficult to define and explain.

From being a well satisfied client, I am now a very unhappy and dissatisfied client of this broker.

June Green, Ontario, Canada

Rating:

No Rating

Date of Post:2015-04-09

Review:

I was interested in seeing the mention of problems with the trading platform with IC Markets. I am experiencing a problem with their MT4 that I have never had with any other broker. When I right click on the chart to bring up the trading window, it will sometimes randomly display an FX pair that is different from the chart I am trading on. Yesterday, I was trading EUR/GBP and when I went to place the trade, I saw that the trade box was displaying EUR/Danish Korner. I have never even looked at this chart in the 6 years I’ve been trading. This type of thing has happened to me and to my trading partner 6 or 7 times since I opened my account with them 4 months ago. After reporting the problem each time, I was told to video tape my trades so they could see it happen. I assume they believe it is my error. I’ve used MT4 for a long time and so has my partner and this is the first time either of us has had this problem. A video of me clicking on the chart isn’t going to clarifiy anything. Seems they don’t know what to do about it and frankly………..I don’t think they even believe us.

Captain Pugwash, Buckingham, United Kingdom

Rating:

Date of Post:2015-03-29

Review:

I opened a small account with IC a year ago – so far I have withdrawn twice the amount I deposited (three separate withdrawals).

Each withdrawal was in my bank account in the UK within two days.

I am using their Ctrader platform – had no issues at all.

Maybe ICMarkets (or FPA) could send an « I am an Idiot » badge to some of the complainants below

Good Solid Broker – thanks

Keep up the good work Forex Bastards – these reports are gold dust to traders

Simon, London, United Kingdom

Rating:

Date of Post:2015-03-25

Review:

I thought I’d submit a review to level the playing field a little and I am in no way affiliated with IC Markets.

Having used around 20 different brokers over the years, I can say that IC Markets are one of the better ones. In the 6 months I have been using them, I have only had some minor connection hiccups for 3 days.

There is a misconception from inexperienced traders that you will always get filled at the price you want and experience zero slippage (even on Non Farm Payroll). If you are using a real ECN broker, then slippage is inevitable, because you are relying on the banks providing prices. Now what do you think banks do during high risk news announcements? That’s right – they pull their orders.

Some assets such as gold get slipped a lot because they are less liquid than EURUSD for example.

On the day the SNB dropped the CHF floor and it spiked 1000s of pips, the bucket shops were able to claim they honoured prices because they don’t send orders to the actual market! They create an artificial market instead.

ECN brokers (such as ICMarkets) had to go to the real market for liquidity – of which there was none at that point in time, because any sane bank wasn’t going to step in and buy off of you.

Half the complaints on this forum are from amateur traders who don’t have a clue how the real markets work, or they lose and then look to blame anyone apart from their own trading.

Sorry, but it’s true.

john, nairobi, Kenya

Rating:

Date of Post:2015-02-25

Review:

this is a big scam please don’t risk your money,all the positive reviews above are also a scam they have paid for them,please don’t be cheated

 

Rebuttal:

Added by Sung Choi on 2015-03-13 12:52

 

Dear John,

Thank you for taking the time to post a review on FPA.

We welcome feedback from all our customers around the world using our state of the art online trading services. As you can see this forum consists of both positive and negative reviews from our client base globally, and I can assure you that we do not have any paid reviews as this is would not be a very good way to invest our capital. Please contact me directly to provide a more specific response to your claims and the reason for your dissatisfaction and I will assist you in any way possible.

Kind Regards,
Sung Choi | Head of Client Services | IC Markets
[email protected]
+61 2 8014 4280

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Shakeel, karachi, Pakistan

Rating:

No Rating

Date of Post:2015-02-25

Review:

i have a demo account with IC markets, in the past 24 hours i have been dissconnected alteast 40 times – if it were a real account just imagine how much i would have lost

 

Comment:

Added by Sung Choi on 2015-03-13 12:32

 

Dear Shakeel,

Thank you for your feedback.

Have you tried to contact our team in regards to the issues you have experienced as I could not find your information in our system. Platform disconnect issues can be quite complicated and due to a number of reasons not limited to PC specifications, internet connection, EA’s/custom indicators etc.

I would be happy to investigate this for you and provide any assistance possible, please contact me directly with the details of the issue/s you are facing.

Kind Regards,
Sung Choi | Head of Client Services | IC Markets
[email protected]

Brian Oliver, , New Zealand

Rating:

Date of Post:2015-02-23

Review:

I traded with IC Markets for about 9 months, with a few issues but nothing major.
When the SNB changed the pegging then things changed.
I had one account wiped out of some $14000 in spite of being long on the CHF.
IC Markets had no liquidity, provided no data to support their trading on my account.
In spite trying to obtain information from them I could not unless I signed a non disclosure agreement.
I have found them to be most intransigent, and have had to resort to filing a claim against them with the FOS.
I cannot recommend this broker to any trader, and would recommenced caution in dealing with them.

Fariwar, , Netherlands

Rating:

Date of Post:2015-02-13

Review:

I’m recetifying my previous post! ICMarkets did paid back the loss!
That is very generous and professional!

2015-01-29 1Star ICMarkets is a real scam broker! STAY AWAY!!!

I had 3 accounts at ICMarkets and another account on Saxo. With SNB debacle the ICMarket accounts lost over 14k while Saxo account lost 200euro’s with exact same robot. All 3 ICMarket accounts had exact same trades copied from 1 to another.

ICMarket was sending illegal/fiction prices for USDCHF during the news. Regarding all financial reports, including Bloomberg, USDCHF has never ever been on that price. The difference between actual price and ICMarkets price is over 2000pips!!!

After 3 weeks of calling, several emails and promisses that they will adjust the trades to the right price, all they say was this:
‘Upon further review of your accounts, our trade desk have assessed that there are no pending adjustments on your accounts as the rates have been verified as correct by our liquidity providers and stopouts occurred correctly. During the SNB announcement, spreads were extremely wide, and as there was uncertainty by the banks on where to price the CHF pairs there was no liquidity as a result.’

These 3 accounts lost all together over 14k and had same trades. They adjusted trades on 1 account with 740euro’s (which is nothing if you look at the loss). But the most crazy thing is that they say the trades on the other 2 accounts don’t need adjustments while they have been traded on the same price.

All they do is blame the liquidity providers which they chose by themselfs. When you don’t know where to price a currency why do you just send fiction prices? and allow trades on those prices? Saxo just blocked tradings and did send real prices. On ICMarkets graph you can see USDCHF went down all to 0.04, which should mean: USD doesn’t exist anymore.

This is just steeling money from traders by sending fictionary prices to MT4.

I’m now sending a letter to Australian Securities and Investments Commission (ASIC) to investigate this as ICMarkets is not taking this seriously.

Andrew Leong, Singapore, Singapore

Rating:

Date of Post:2015-02-04

Review:

Well, my experience with them so far is that they have perhaps the tightest spreads I’ve ever seen. Seriously, the spread is ridiculously low and that’s important for scalpers like me.

In terms of customer support, so far top notch. Not fussy and always willing to go the extra mile for ya.

MT4 has not hung or lagged for me yet, will keep a watch on that. So far really please with execution speed and spread 😉

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