IC Markets Australia vs. IC Markets Seychelles | Forex Factory

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IC Markets Australia vs. IC Markets Seychelles

  • #1
  • First Post: Jan 14, 2021 2:08am Jan 14, 2021 2:08am
Hey everyone!

The questions I have is if there is a difference in security / safety and quality of the broker depending on the location of their regulating body.

It is practically the same company but just under different jurisdictions (Australia vs. Seychelles).

The reason I am contemplating IC Markets Seychelles is because I need high leverage on some trading days when I find a killer setup. IC Markets Australia and other Australian brokers are being forced to reduce the leverage they offer. Basically, it is what EU traders faced with the ESMA regulations in 2018.

Is there anything else I need to beware of? All and any input on IC Markets Australia vs. IC Markets Seychelles is highly appreciated!

Thanks!
  • #2
  • Feb 8, 2021 9:45am Feb 8, 2021 9:45am
Quoting kweiss10
Hey everyone! The questions I have is if there is a difference in security / safety and quality of the broker depending on the location of their regulating body. It is practically the same company but just under different jurisdictions (Australia vs. Seychelles). The reason I am contemplating IC Markets Seychelles is because I need high leverage on some trading days when I find a killer setup. IC Markets Australia and other Australian brokers are being forced to reduce the leverage they offer. Basically, it is what EU traders faced with the ESMA...
I would wonder if withdrawal options would be the same......
  • #3
  • Feb 8, 2021 11:53am Feb 8, 2021 11:53am
Quoting Polaris38
{quote} I would wonder if withdrawal options would be the same......
I deposited for the first time today to my IC Seychelles (global) account. Paypal and Debit card. Both were instant. I made some profit trading and have asked for a withdrawal through Paypal. Let's see if they pay out on time and as usual
  • #4
  • Feb 9, 2021 1:52am Feb 9, 2021 1:52am
Quoting kweiss10
{quote} I deposited for the first time today to my IC Seychelles (global) account. PayPal and Debit card. Both were instant. I made some profit trading and have asked for a withdrawal through Paypal. Let's see if they pay out on time and as usual
Update: the PayPal withdrawal worked. It was just as fast as on IC Markets Australia.
  • #5
  • Feb 9, 2021 5:13am Feb 9, 2021 5:13am
Quoting kweiss10
{quote} Update: the PayPal withdrawal worked. It was just as fast as on IC Markets Australia.
Good to hear

How about the execution, is that exactly the same?
  • #6
  • Feb 9, 2021 6:23am Feb 9, 2021 6:23am
Quoting Polaris38
{quote} Good to hear How about the execution, is that exactly the same?
I did not sense any difference
  • #7
  • Feb 10, 2021 12:00pm Feb 10, 2021 12:00pm
Quoting kweiss10
{quote} I did not sense any difference
OK, good to hear
  • #8
  • Edited 7:18am Feb 11, 2021 2:06am | Edited 7:18am
Australian and Seychelles regulators also come from icmarkets.com. But ASIC management will have tight rules on icmarkets.com. whereas, governance of the Seychelles is not like that and it will be easier on the policy of imposition, such as the leveraged policy is the present element.
  • #9
  • Feb 13, 2021 2:29am Feb 13, 2021 2:29am
Quoting kweiss10
Hey everyone! The questions I have is if there is a difference in security / safety and quality of the broker depending on the location of their regulating body. It is practically the same company but just under different jurisdictions (Australia vs. Seychelles). The reason I am contemplating IC Markets Seychelles is because I need high leverage on some trading days when I find a killer setup. IC Markets Australia and other Australian brokers are being...
Switched to Seychelles last month & can't tell any difference, withdrawn no probs too.
  • #10
  • Feb 14, 2021 9:13am Feb 14, 2021 9:13am
I use IC markets Seychelles from the beginning I rather open account under Seychelles then Australian I don't remember why, but I am glade now because I can keep my leverage. I don't have any bad experience with them.
  • #11
  • Feb 14, 2021 4:39pm Feb 14, 2021 4:39pm
Quoting dean55555
I use IC markets Seychelles from the beginning I rather open account under Seychelles then Australian I don't remember why, but I am glade now because I can keep my leverage. I don't have any bad experience with them.

what interests me, you have to enter your tax ID
  • #12
  • Feb 15, 2021 1:57am Feb 15, 2021 1:57am
Quoting dean55555
I use IC markets Seychelles from the beginning I rather open account under Seychelles then Australian I don't remember why, but I am glade now because I can keep my leverage. I don't have any bad experience with them.
How long have you been with the IC markets Seychelles?
  • #13
  • Feb 15, 2021 7:23pm Feb 15, 2021 7:23pm
I have never witnessed the dirty tricks from ICmarkets before like I did today, after years, very disappointing and will stop using them this week, Constant slippage, widening of spread for hours of 4-5 pips on ECN razor accounts during prime FX market hours...simply unacceptable AVOID.
  • #14
  • Feb 16, 2021 1:11am Feb 16, 2021 1:11am
Quoting venividivici
I have never witnessed the dirty tricks from ICmarkets before like I did today, after years, very disappointing and will stop using them this week, Constant slippage, widening of spread for hours of 4-5 pips on ECN razor accounts during prime FX market hours...simply unacceptable AVOID.
Which IC Markets are you with and what time of trading (which session) did these problems occur? I have a sizeable account with them and do not want to face any of the problems you mentioned.

Was it on MT4 or cTrader?
  • #15
  • Feb 16, 2021 1:42am Feb 16, 2021 1:42am
Quoting venividivici
I have never witnessed the dirty tricks from ICmarkets before like I did today, after years, very disappointing and will stop using them this week, Constant slippage, widening of spread for hours of 4-5 pips on ECN razor accounts during prime FX market hours...simply unacceptable AVOID.
Today (that means yesterday) .. was US bank holiday!
Low liquidity always results in slippage, spread spikes and bad execution.

But it is so much easier to blame the broker instead of making up your mind.

In almost all cases the problem sits in front of the screen.
  • #16
  • Feb 16, 2021 1:45am Feb 16, 2021 1:45am
Quoting Drolph
{quote} Today (that means yesterday) .. was US bank holiday! Low liquidity always results in slippage, spread spikes and bad execution. But it is so much easier to blame the broker instead of making up your mind. In almost all cases the problem sits in front of the screen.
Almost forgot about the bank holiday

But I hear people using MT4 facing slippage and spread spikes a lot.

I do not have these problems on cTrader.
  • #17
  • Feb 16, 2021 7:47am Feb 16, 2021 7:47am
Quoting kweiss10
{quote} Almost forgot about the bank holiday But I hear people using MT4 facing slippage and spread spikes a lot. I do not have these problems on cTrader.
I can provide you several examples on ctrader with icmarkets where the BE stop gets set at +1.5 pips and it gets taken at 0.5 pips forcibly without any high volatility, its these little details that allow the little guy to make or break...and that's why I'm saying IC isn't entirely transparent like they say and I'll be avoiding them. (but are any brokers entirely transparent? no...just find the best for you). Otherwise in regards to ctrader on its own I love the platform, MT4 feels trashy.
  • #18
  • Feb 17, 2021 1:46am Feb 17, 2021 1:46am
Quoting venividivici
{quote} I can provide you several examples on ctrader with icmarkets where the BE stop gets set at +1.5 pips and it gets taken at 0.5 pips forcibly without any high volatility, its these little details that allow the little guy to make or break...and that's why I'm saying IC isn't entirely transparent like they say and I'll be avoiding them. (but are any brokers entirely transparent? no...just find the best for you). Otherwise in regards to ctrader on its own I love the platform, MT4 feels trashy.
I think you are right! I do not trade with a SL but my TP often hits above the TP set. So I generally get more pips in my TP. I suspect the same would be if a SL would be set. For example, yesterday price popped in GBPUSD and instead of my set TP, I got 3+ pips more to that position. At a 500:1 leverage that was a lot of profit. But if that was a SL, it would be a lot of extra losses.
  • #19
  • Mar 31, 2021 12:35pm Mar 31, 2021 12:35pm
After 3 years finally I have decided to move my account to Seychelles, since I need 1:500 leverage, and basically all just the same, quite happy with ICM so far..
  • #20
  • Apr 1, 2021 4:32am Apr 1, 2021 4:32am
You guys may read these:
Quote:
"Brokers may be against you if you use leverage, because then they lend you money, and if you win big, they have to let you keep some part of the leveraged profits. so in any leveraged account, the brokers are against you in the sense that they hope you will lose so they don't have to pay you the extra money"
https://forex-station.com/viewtopic.php?t=8473361

https://www.forexfactory.com/thread/...6#post13478116
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