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The death of IC Markets

  • #41
  • Jun 24, 2019 1:38pm Jun 24, 2019 1:38pm
Quoting RulerEraser
When is this going to happen for let's say FPMarkets? Also Australian broker?
it is ASIC changing the rules,,,,that is, change for all Aussie brokers.
there is always, always another trade!!
  • #42
  • Jun 24, 2019 1:42pm Jun 24, 2019 1:42pm
Quoting profitfarmer
{quote} it is ASIC changing the rules,,,,that is, change for all Aussie brokers.
Yeah, I do know that, yet for now it only happens to IC. No one else got any info on that yet.
If you want to see charts on different level, start listening to Madonna
  • #43
  • Jun 24, 2019 2:13pm Jun 24, 2019 2:13pm
Quoting RulerEraser
When is this going to happen for let's say FPMarkets? Also Australian broker?
not many know of fp. hence i dont think they are affected for now. ie, not many china/europeans are utilizing them. plus, they are geared towards ASX trading. not under cfd's product intervention purview.
  • #44
  • Jun 24, 2019 4:07pm Jun 24, 2019 4:07pm
Quoting RulerEraser
{quote} Yeah, I do know that, yet for now it only happens to IC. No one else got any info on that yet.
Vantage did this for over a month ago so ICM is not the first to do this....I have account with vantage so i know even never traded with them...
Insanityoing same ting over expecting different results..Einstein
  • #45
  • Jun 24, 2019 4:18pm Jun 24, 2019 4:18pm
Quoting Bicarus
{quote} not many know of fp. hence i dont think they are affected for now. ie, not many china/europeans are utilizing them. plus, they are geared towards ASX trading. not under cfd's product intervention purview.
I have also traded with FP markets and they have almost exactly same pairs and model as ICM,but i dont know how many clients and how there buisness is doing so for safety of my funds i moved to ICM after i got IB discount so pay only 5.5 dollars pr lot....My IB discount at FP markets gave me 4 dollars pr lot,but i still moved for safety of funds because ICM are way bigger and have a lot better buisness going...And i belive FP markets will be as affected as ICM...
Insanityoing same ting over expecting different results..Einstein
  • #46
  • Jun 24, 2019 4:26pm Jun 24, 2019 4:26pm
Did you guys not receive a mail today from IC Market stating that that there will be no change?

Zz
  • #47
  • Jun 24, 2019 5:39pm Jun 24, 2019 5:39pm
Quoting hishamzz
Did you guys not receive a mail today from IC Market stating that that there will be no change? Zz
I just noticed, LOL:
Attached Image (click to enlarge)
Click to Enlarge Name: ICM.png Size: 117 KB
Toxic Flow for FX Brokers.
  • #48
  • Jun 24, 2019 6:23pm Jun 24, 2019 6:23pm
Quoting anti-flash
{quote} I just noticed, LOL: {image}
I have just received the email too. This is very unprofessional of them causing confusion among their clients.
  • #49
  • Edited Jun 25, 2019 11:47am Jun 24, 2019 8:33pm | Edited Jun 25, 2019 11:47am
Quoting anti-flash
{quote} I just noticed, LOL: {image}
Ofcouse brokers moving to exotic islands will write that in bold font that nothing is changing....but that does not mean nothing else will change in the future lol.
Shit has to slowly but surely go downhill when there is no big brother watching over their shoulder.
Better to quit this rotten industry than to continue your reliance on this dying brokerage industry.
Soon, these brokers will be labelled as money launderers because that is what they do imo. They register in one country and their bank is based somewhere else (mostly in Russia or Eastern Europe). Next ban is coming towards use of BitCoin to fund trading accounts. I am quite certain of it. The fact is, most Western governments are losing a LOT of tax revenues from losing traders.
Staying in my lane...
  • #50
  • Jun 25, 2019 1:53am Jun 25, 2019 1:53am
Quoting profitfarmer
{quote} disagree. outward ICMarkets has a commission based earning model, in reality they heavily depend on their 'B' side of the hybrid book and the number of clients to attract to place there to keep their outward tight spread, while acting as a discount rate bucketshop in reality. nothing wrong with this, until you know what you are up against; and if you are a profitable scalper, that means it is much recommended to keep a very close eye on your execution and slippage when start to come to larger lots! since it is 90% of the time you vs them,...
"Toxic trader", what more can you expect from a former banker
Tapaas video
If you are not VS broker, you are VS banker
Toxic Trader
  • #51
  • Jun 25, 2019 3:32am Jun 25, 2019 3:32am
some around (too many most probably) have no idea on what world they are living...
how to say ''the death of ICMarkets'' ? '' I got a shocking email'' LOL do you have any idea how big player is this broker and what that means? any idea about how some sort of changes may affect or not such a broker? like leverage changes or new regulations?
this thread must be right into recycle bin cos the title just confuse new people who may look for reliable information.
Take what you can, give nothing back
  • #52
  • Jun 25, 2019 3:53am Jun 25, 2019 3:53am
It looks like they cancelled the migration plan. I just got this email from ICMarkets:

Dear Client,

Following the email sent to you on Friday, 21 June 2019 “Important Update Regarding your Trading Account”, in which we have informed you that, on 30 June 2019, we will migrate your trading account(s) to IC Markets (SC), regulated by the Financial Services Authority (FSA) of Seychelles (Securities Dealer Licence No: SD018), unless you inform us otherwise.

However, following the valuable feedback of all our clients, we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).

Accordingly, nothing changes for you: You will be able to continue with your current trading account(s) with IC Markets (AU).

  1. There will be no impact on your trading account/activity at all.
  2. Your funds will remain in the same segregated trust account with AA rated Australian banks.
  3. You will maintain your current open positions and account history.
  4. Services provided to you by IC Markets (AU) will continue to be governed by the Australian financial services laws.
  5. Finally, you will keep trading in the exact same market-leading trading conditions as usual.
    Nonetheless, should you wish for your account to be migrated to IC Markets (SC) in the future, you will be able to do so with a seamless transition process, which provides you with more choices and flexibility.

    Both IC Markets (AU) and IC Markets (SC) holds all client funds in fully segregated client trust accounts with AA rated Australian Banks, NAB and Westpac and operate following the same core values that made IC Markets a leader of the industry trusted by thousands of traders.

    We apologise for any inconvenience or confusion the previous email may have caused and thank you for your patience and understanding.

    For further enquiries, please do not hesitate to contact us a [email protected]

Kind regards,
IC Markets

  • #53
  • Jun 25, 2019 5:10am Jun 25, 2019 5:10am
It was badly thought move form IC. How can they announce such a big move and then after 2 days say "never mind". It looks very unprofessional.
  • #54
  • Jun 25, 2019 6:58am Jun 25, 2019 6:58am
Be humble to see your mistakes, courageous to admit them, and wise enough to correct them.
  • #55
  • Jun 25, 2019 7:33am Jun 25, 2019 7:33am
Hey guys,
I'm Giovanni and I work from Italy. I am also a customer with IC market for 1 year. like everyone I received the migration email and the non-migration email LOL but considering everything, I decided to close my account and the experience overseas. yesterday I requested my money back via PayPal. same method used to pay. normally in 12/14 hours I received the notification of a withdrawal. Today no: ic send me this
Attached Image (click to enlarge)
Click to Enlarge Name: 9D5F63D1-6559-442A-B159-CB6D6F7FF208.jpeg Size: 561 KB
  • #56
  • Jun 25, 2019 8:15am Jun 25, 2019 8:15am
I recieved my money back with no problems though it was through a debit card (bank account) and they were very prompt, a couple of days
  • #57
  • Jun 25, 2019 8:39am Jun 25, 2019 8:39am
Of course, in a year of work via PayPal I have always received everything in the right time. this time they answered me this way. I hope it's just an occasional delay and they solve tomorrow
  • #58
  • Jun 25, 2019 9:40am Jun 25, 2019 9:40am
Quoting Belve
Hey guys, I'm Giovanni and I work from Italy. I am also a customer with IC market for 1 year. like everyone I received the migration email and the non-migration email LOL but considering everything, I decided to close my account and the experience overseas. yesterday I requested my money back via PayPal. same method used to pay. normally in 12/14 hours I received the notification of a withdrawal. Today no: ic send me this {image}
Is it a lot money you wish to withdraw?
  • #59
  • Jun 25, 2019 11:53am Jun 25, 2019 11:53am
Quoting Belve
Hey guys, I'm Giovanni and I work from Italy. I am also a customer with IC market for 1 year. like everyone I received the migration email and the non-migration email LOL but considering everything, I decided to close my account and the experience overseas. yesterday I requested my money back via PayPal. same method used to pay. normally in 12/14 hours I received the notification of a withdrawal. Today no: ic send me this {image}
Dude... YOU NEVER CLOSE YOUR ACCOUNT AND THEN REQUEST FUNDS WITHDRAWAL. You Withdraw first and then leave a few 100 pennies to make them think you are still their loyal customer! Account Closure normally triggers all sorts of "internal compliance" process. Expect a week of delay if you get lucky with your request lol
Staying in my lane...
  • #60
  • Jun 25, 2019 12:14pm Jun 25, 2019 12:14pm
Quoting VEEFX
{quote} Dude... YOU NEVER CLOSE YOUR ACCOUNT AND THEN REQUEST FUNDS WITHDRAWAL. You Withdraw first and then leave a few 100 pennies to make them think you are still their loyal customer! Account Closure normally triggers all sorts of "internal compliance" process. Expect a week of delay if you get lucky with your request lol
Or .. it is simply what it says. But conspiracy theories are much more entertaining!

If you encountered a SCAM broker once, you can simply adapt all difficulties and cheating practises to each and every broker. Case closed.
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