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Crude Oil - IC Markets

  • #1
  • First Post: Apr 21, 2020 7:50am Apr 21, 2020 7:50am
Is anyone here trading with IC Markets?
Are you able to place new trades for XTIUSD?

IC Markets have stopped me from taking any new trades for XTIUSD and I get "Trade is Disabled" message.
I cannot adjust stop losses or take profit for my open positions.
It is close-only at the moment for XTIUSD.

They did this to me for XPDUSD and now they have done the same for XTIUSD.
Are you facing the same problem with IC Markets?
  • #2
  • Apr 21, 2020 9:59am Apr 21, 2020 9:59am
Quoting Forex.RayV1
Is anyone here trading with IC Markets? Are you able to place new trades for XTIUSD? IC Markets have stopped me from taking any new trades for XTIUSD and I get "Trade is Disabled" message. I cannot adjust stop losses or take profit for my open positions. It is close-only at the moment for XTIUSD. They did this to me for XPDUSD and now they have done the same for XTIUSD. Are you facing the same problem with IC Markets?

Thats how the market works.. same thing happened with euro indices, you could not sell (buy only), same for gold, etc, to protect the markets

EVERY broker do this, nothing weird about it
  • #3
  • Apr 21, 2020 10:11am Apr 21, 2020 10:11am
Quoting havo
{quote} Thats how the market works.. same thing happened with euro indices, you could not sell (buy only), same for gold, etc, to protect the markets EVERY broker do this, nothing weird about it
What are you on about? Euro indicies for France and Spain could not SELL and BUY only is because govt. banned short selling.
Problem with gold was because there were not enough physical gold.

What happened with IC Markets is NOT normal.
All other brokers I have were allowing to open new positions, change stop loss and take profit for existing positions etc.

It was only IC Markets who did not allow any new trades to open for Crude Oil. It did not allow change of take profit or stop loss.
All they allowed was closing any existing position.
That is not normal!
  • #4
  • Apr 21, 2020 1:55pm Apr 21, 2020 1:55pm
Quoting Forex.RayV1
{quote} What are you on about? Euro indicies for France and Spain could not SELL and BUY only is because govt. banned short selling. Problem with gold was because there were not enough physical gold. What happened with IC Markets is NOT normal. All other brokers I have were allowing to open new positions, change stop loss and take profit for existing positions etc. It was only IC Markets who did not allow any new trades to open for Crude Oil. It did not allow change of take profit or stop loss. All they allowed was closing any existing position....
oh.. i get it now; maybe they dont have enough liquidity to handle new positions? or they just took the desicion to NOT get in the middle of this crazy "phase" of oil and avoid negative consequences for them..

Send them an email/call them and see what they tell you about about it; quick and effective

Why they took that kind of decision i dont know BUT it does says a lot about them.. food for thought and not in a good way (at least for me)
  • #5
  • Apr 22, 2020 8:46am Apr 22, 2020 8:46am
Could you share the futures oil brokers? rly interested in it. Currently trade Spot Oil on PrimeXBT
  • #6
  • Apr 22, 2020 5:54pm Apr 22, 2020 5:54pm
Quite a lot of brokers are now "close only" mode for wtic "spot".
Don't IC also offer CFD on June cl futures?
That should still be open, mind you CME dose have circuit breaker on commodities as we saw on Tuesday.
  • #7
  • Apr 23, 2020 6:36am Apr 23, 2020 6:36am
Quoting BubaYaga
Quite a lot of brokers are now "close only" mode for wtic "spot". Don't IC also offer CFD on June cl futures? That should still be open, mind you CME dose have circuit breaker on commodities as we saw on Tuesday.
They don't have CFD on June CL mate.
Most of the brokers still allow Spot trade. I have account with 5 brokers and all still allow it to trade.
IC have now allowed to trade WTI spot again.
  • #8
  • Edited 12:49pm Apr 23, 2020 11:56am | Edited 12:49pm
Hi, this is my first post, and I can't start a new thread.
Please help me with the calculaton bellow:

Symbol = XTIUSD
Contract size = 100 units
Lot = 0.50
Buy Price - Close Price= 23.78 - 10.02 = -13.76 USD
100 unit x 0.50 lot x -13.76 USD = -688 USD
why is the -6893 USD loss
my DEMO account got wiped in few seconds today.

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update:

here is another trade from yesterday, and that is correct

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  • #9
  • Apr 23, 2020 6:08pm Apr 23, 2020 6:08pm
Quoting Forex.RayV1
{quote} They don't have CFD on June CL mate. Most of the brokers still allow Spot trade. I have account with 5 brokers and all still allow it to trade. IC have now allowed to trade WTI spot again.
They do mate
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  • #10
  • Apr 27, 2020 7:47am Apr 27, 2020 7:47am
Hi, I am a newbie here, I would like to ask if anyone can refer to a broker who uses the MT5 platform and supports futures trading. Thank you
  • #11
  • Jun 8, 2020 11:46am Jun 8, 2020 11:46am
Have you heard anything from Icmarkets? I have tried to find out what is the source for WTIUSD price on Icmarkets. They do say it's "Spot Price" so why on Icmarkets the price has droped below 3$, but it never did on https://investing.com/currencies/wti-usd-chart
  • #12
  • Jun 11, 2020 1:27pm Jun 11, 2020 1:27pm
Quoting plac1bo
Have you heard anything from Icmarkets? I have tried to find out what is the source for WTIUSD price on Icmarkets. They do say it's "Spot Price" so why on Icmarkets the price has droped below 3$, but it never did on https://investing.com/currencies/wti-usd-chart
because it is a mix of futures and it is synthetic product of ic market- pure bullshit - do not trade that, it is scam. price not transparent and it is not traded on exchange.
My broker pepperstone screw me with 5k of wins with same rubbish. they refusing me provide formula behind it. i can see they are playing with prices.
  • #13
  • Apr 12, 2021 12:54am Apr 12, 2021 12:54am
can anyone answer this question?

How much profit in Australian dollars have you made at an XTIUSD price of $15.055/15.070 with an AUDUSD exchange rate of 0.75?

I don't trade oil so im not sure how to figure it out.

Thanks
  • #14
  • Edited 2:05am Apr 13, 2021 1:54am | Edited 2:05am
=(open price - close price) * contract size / AUDUSD exchange rate
  • #15
  • Last Post: Jun 10, 2024 4:11am Jun 10, 2024 4:11am
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