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IC Markets (AU) ceases serving global clients

  • #41
  • Jul 10, 2019 1:11am Jul 10, 2019 1:11am
Quoting Subaal
Will you stay with them and migrate to the SC regulations (IC Markets SC or are you moving to a different broker? Should we be concerned with the IC Markets SC regulations? I.e. if IC Markets SC goes down under would we get our money back?
New regulation means no AU broker will open accounts for non-AU residences anymore. Also, I don't think IC Markets ever protected deposits?
  • #42
  • Mar 23, 2021 12:08pm Mar 23, 2021 12:08pm
Quoting Subaal
{quote} Thanks for your input on this thread. I am thinking the same as yourself and have hit NOT TO MIGRATE button. We will need to settle with the lower leverage and make the money from what we have. It will have some effect to overall trading experience and potential earnings as compared to higher leverage but there is not a lot we can do as of now... Best of luck anyhow.
so much blah blah blah,,


ICM AU ASIC are saying leeverage from 500:1 to 30 or 20: 1 whatever...

have u realised this?

where before 1 trade is 50$ margin is now 10 0000$ margin are u nuts????

another stupid au thing.... take out ur funds guys run away,, u cant opeerate like this...
  • #43
  • Mar 23, 2021 6:48pm Mar 23, 2021 6:48pm
Quoting goldenpip
{quote} so much blah blah blah,, ICM AU ASIC are saying leeverage from 500:1 to 30 or 20: 1 whatever... have u realised this? where before 1 trade is 50$ margin is now 10 0000$ margin are u nuts???? another stupid au thing.... take out ur funds guys run away,, u cant opeerate like this...
People who actually make living in Forex don't need this type of leverage. And most don't even use any...high leverage is mostly for retail with their few hundreds dollars to lose money quickly.
  • #44
  • Mar 25, 2021 1:22am Mar 25, 2021 1:22am
As long as the broker holds multiple Tier 1 licenses (e.g. ASIC, FCA, CySEC), they are still going to be solid with their operations via their offshore entity. I've traded with ICM before and I don't think this change would make much difference - except for allowing for more leverage
  • #45
  • Last Post: Mar 30, 2021 6:40am Mar 30, 2021 6:40am
Quoting Redbaron81
{quote} People who actually make living in Forex don't need this type of leverage. And most don't even use any...high leverage is mostly for retail with their few hundreds of dollars to lose money quickly.
I see your point but on the flip side that if you are a consistently successful trader then the same principle would work in reverse. I'd be happy to see the UK go back to 1:100 leverage for retail clients now that they are no longer under ESMA restrictions. Fingers crossed.
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