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IC Markets Support

  • #1
  • First Post: Edited Jul 14, 2017 1:48am Jul 12, 2017 9:34am | Edited Jul 14, 2017 1:48am
iam about to switch from Pepperstone to IC Markets ..
well with a Tear in my Eye as pepperstone is an outstanding broker
but change of rules and them standing up against the randomness of regulators makes me loose too many products to trade with.

so i went to ICMarkets
it turns out the CTrader platfrom is even faster and they have better conditions too

but in a very short time i noticed one thing which is VERY annoying ..
the support is completly Useless !!

basically all questions are being answered with canned messages
and i even got confirmations for things that not even happen yet.

there is one Rleationship Manager (his name is Nik) .. he apears to be the only guy in the whole company who has engagement and try to make everything happen in the best of interest for client and company.

but well iam not so sure anymore .. about they beeing the right place to drop 250K euros in.

do you guys/girls have any experiences with them ?
especially if things getting Jucy ?
  • #2
  • Edited 3:02pm Jul 13, 2017 2:44pm | Edited 3:02pm
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  • #3
  • Jul 13, 2017 3:01pm Jul 13, 2017 3:01pm
Quoting nullx8
iam about to switch from Pepperstone to IC Markets .. well with a Tear in my Eye as pepperstone is an outstanding broker but change of rules and them standing up against the randomness of regulators makes me loose too many products to trade with. so i went to ICMarkets it turns out the CTrader platfrom is even faster and they have better conditions too but in a very short time i noticed one thing which is VERY annoying .. the support is completly Useless !! basically all questions are being answered with canned messages and i even got confirmations...
Sawadee cap.. i've been with them for sometime now. withdrawals weekly and on time. i must admit their support is wank but really never had any serious issues. nothing im too worried about as long as i get my withdrawals which i do
  • #4
  • Jul 17, 2017 8:37am Jul 17, 2017 8:37am
Talking to their support requires a lot of back and forth banter especially if you are using live chat. Live chat is usually not very helpful at all unless you are asking super basic questions. Otherwise, they'll re-direct you to their email support.
  • #5
  • Jul 17, 2017 11:30am Jul 17, 2017 11:30am
Quoting jhehe
...unless you are asking super basic questions.
haha yeah thats true .. i noticed that i dump-down myself pretending talk to a 9 year old .. then thnings usually going my way.

some account settings where wrong which i moreless noted by accident ..
resulting in me being charged twice via wide spread + comissions.

i pointed that out .. ended up again ain a support loop, but again Nik came to the rescue, they depoit the charges they made in error promptly to the account .. and all was set properly ...

thats a good outcome, shit does happen everywhere, in no way i imply they cheat or whatnot .. just a honest misstake made by someone ..
once it was clear .. they acted rather quickly ... thats i would actually count as a "Good experience" because when everything is smooth sure all vote up .. but if shit does happen . then you can see the real face of a company, and int the case of ICMarkets .. that was handled quite well.

but i have to agree the direct support is really more annoying than helpful
  • #6
  • Jul 24, 2017 5:17am Jul 24, 2017 5:17am
You are right about charging the clients twice, here is a proof.

I set my TP 12 pips away but it closes on 11 pips, this is not the first time, they always do this. We have to complain about this.
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  • #7
  • Jul 24, 2017 6:35am Jul 24, 2017 6:35am
Quoting shabirsaleem
You are right about charging the clients twice, here is a proof. I set my TP 12 pips away but it closes on 11 pips, this is not the first time, they always do this.
well in all honesty, i do not see a business related reason any broker would do this (on pourpose)
unless they close the own deals with +12 and give you only +11 .. but seriously ? for the effort, your position is WAY too small to give this any sense.
.. they got the commission already since your position is green.
  • #8
  • Jul 24, 2017 11:04am Jul 24, 2017 11:04am
Quoting nullx8
{quote} well in all honesty, i do not see a business related reason any broker would do this (on pourpose) unless they close the own deals with +12 and give you only +11 .. but seriously ? for the effort, your position is WAY too small to give this any sense. .. they got the commission already since your position is green.
You are right Nullx, but I am still confused, Why I am not getting exactly 1.20$ when my TP is 12 pips, here is another example:

I had some accounts with other brokers where they were closing my trades exactly at 1.20$.
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  • #9
  • Jul 24, 2017 11:23am Jul 24, 2017 11:23am
Quoting shabirsaleem
{quote} You are right Nullx, but I am still confused, Why I am not getting exactly 1.20$ when my TP is 12 pips, here is another example: I had some accounts with other brokers where they were closing my trades exactly at 1.20$. {image}
Hi Shabirsaleem,

As I know, not every pair has same pip value.
Please see the following link as your reference : https://www.investing.com/tools/forex-pip-calculator
  • #10
  • Jul 24, 2017 12:17pm Jul 24, 2017 12:17pm
Quoting traderoo
{quote} Hi Shabirsaleem, As I know, not every pair has same pip value. Please see the following link as your reference : https://www.investing.com/tools/forex-pip-calculator
That webpage was useful, many thanks plus best wishes to you.
  • #11
  • Jul 24, 2017 10:03pm Jul 24, 2017 10:03pm
Quoting shabirsaleem
{quote} You are right Nullx, but I am still confused, Why I am not getting exactly 1.20$ when my TP is 12 pips, here is another example: I had some accounts with other brokers where they were closing my trades exactly at 1.20$. {image}
MT4 is VERY bad in displaying this data .. also the data is Gross .. not Net Profit .. what you see is not what you get in $$

your positions totalling 17.40 but MT4 shows only 16.32 (16.32 is what you have net profit)
the 1ish $ difference is very likely swap and/or comissions.

this is one of the about 6 million reasons i do NOT use MT4 .. its designed to make metaquotes and the brokers rich .. not the trader
(seen especially if it comes to lot sizing, logging and calculation of win/loss)

this is very likely not the fault of ICMarkets but the fact that you beeing charged comissions for the sake of much smaller Spreads.
on a broker that does not charge comissions, the numbers will be the same as they took the cut already the moment your order was filled.
(unless you hold over night and there is a swap charge, then the numbers will not add up as well)

ICMarkets however charges you a commission based on the order value the moment it is being closed.

trust me, if you place a lot of trades, this is the cheaper option ..
especially if they are small range
  • #12
  • Jul 25, 2017 12:46am Jul 25, 2017 12:46am
Quoting shabirsaleem
You are right about charging the clients twice, here is a proof. I set my TP 12 pips away but it closes on 11 pips, this is not the first time, they always do this. We have to complain about this. {image}
1 pip slippage....happens sometimes. Especially in faster moving times like after news, or if your latency in MT4 to broker server is too high.
As long as once in a while you also find slippage that gives YOU a better price, than TP order, it should be all good.
On your next screenshot there is some slippage your way, though less size, still.
there is always, always another trade!!
  • #13
  • Jul 25, 2017 8:19am Jul 25, 2017 8:19am
Quoting profitfarmer
{quote}As long as once in a while you also find slippage that gives YOU a better price, than TP order, it should be all good. On your next screenshot there is some slippage your way, though less size, still.
use Limit orders .. BUY when everyone is selling,. SELL when everyone is buying .. results pretty much always in positive slipage.
  • #14
  • Aug 7, 2017 11:59am Aug 7, 2017 11:59am
Their support is poor and sometimes their live server02 crashes but the spreads they offer are the best Iv seen.
  • #15
  • Sep 21, 2017 12:04am Sep 21, 2017 12:04am
I have recently registered with them and deposited 200$ for a test. I have not made withdrawal. I plan to drop in 20k$. Please kindly let me know if this broker is safe place for trading. Commission and some slippage here is acceptable. I only worry abt the safety of my money there. Thank you in advance for ur response.
  • #16
  • Sep 29, 2017 10:25pm Sep 29, 2017 10:25pm
IC put up their commissions from $7 to $8 a round trip? getting a bit on the expensive side but at least they have decent execution (unlike the broker I recently left).
  • #17
  • Sep 29, 2017 11:16pm Sep 29, 2017 11:16pm
Quoting BubaYaga
IC put up their commissions from $7 to $8 a round trip? getting a bit on the expensive side but at least they have decent execution (unlike the broker I recently left).
there website has no indication about 8$/lot....
nor my accont has any commission change from the IB deal @ 5.5$/lot
where is your number coming from?

MetaTrader 4 True ECN Account

  1. True ECN spreads from 0.0 pips
  2. Deep Institutional Grade liquidity
  3. Leverage of up to 500:1
  4. Micro Lot trading, 0.01 lot size
  5. $200 USD account opening minimum
  6. Commission of $3.50 per 100k traded

there is always, always another trade!!
  • #18
  • Sep 30, 2017 1:00am Sep 30, 2017 1:00am
Quoting shabirsaleem
You are right about charging the clients twice, here is a proof. I set my TP 12 pips away but it closes on 11 pips, this is not the first time, they always do this. We have to complain about this. {image}
When trading jpy pairs the third decimal place value is pipette ( 1/10th part of a pip). Fluctuation of a few pipettes can happen while opening and closing positions.
When the going gets tough , the tough get going
  • #19
  • Sep 30, 2017 5:32pm Sep 30, 2017 5:32pm
Quoting profitfarmer
{quote} there website has no indication about 8$/lot.... nor my accont has any commission change from the IB deal @ 5.5$/lot where is your number coming from? MetaTrader 4 True ECN Account True ECN spreads from 0.0 pips Deep Institutional Grade liquidity Leverage of up to 500:1 Micro Lot trading, 0.01 lot size $200 USD account opening minimum Commission of $3.50 per 100k traded
Back on the 6th of June they charged $7/lot round trip. Then last Friday, 29th September they charged $8/lot round trip.
Attached Image (click to enlarge)
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Maybe the fact it's an MT5 account? I don't know. But after checking their website it appears they offer cheaper brokerage on the cTrader platform ($6/lot round trip) so I might switch to that.
  • #20
  • Sep 30, 2017 8:06pm Sep 30, 2017 8:06pm
Quoting BubaYaga
{quote} Back on the 6th of June they charged $7/lot round trip. Then last Friday, 29th September they charged $8/lot round trip. {image} Maybe the fact it's an MT5 account? I don't know. But after checking their website it appears they offer cheaper brokerage on the cTrader platform ($6/lot round trip) so I might switch to that.
Mt4 still charges the same now as they had before, I am pretty sure.
While if I trade 0.01 lot my 5.5$/lot gets rounded to 0.06$ commission...( i dont really trade 0.01 lots)...I don't know why your gold is at 8/lot...maybe you are under some deal with padded commission?
What support says about it?
there is always, always another trade!!
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