IC Markets Australia vs. IC Markets Seychelles | Page 2 | Forex Factory

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IC Markets Australia vs. IC Markets Seychelles

  • #21
  • Apr 1, 2021 4:36am Apr 1, 2021 4:36am
Quoting jaspl1
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 ====================================
but if you trade a lot, you make money for them too off the spreads, commissions, etc., yes?
  • #22
  • Apr 1, 2021 4:42am Apr 1, 2021 4:42am
The answer is No. Smalls brokers will find a way to kick you out (if you trade big and win big consistently).
  • #23
  • Apr 1, 2021 4:45am Apr 1, 2021 4:45am
Quoting jaspl1
The answer is No. Smalls brokers will find a way to kick you out (if you trade big and win big consistently).
Does IC Markets belong to this group of brokers in question?
  • #24
  • Apr 1, 2021 4:51am Apr 1, 2021 4:51am
https://www.forexfactory.com/thread/...broker?page=26
  • #25
  • Apr 17, 2021 5:42am Apr 17, 2021 5:42am
Personally, I firmly believe that it is a good idea to avoid brokers or branches of brokers regulated in offshore zones. Offshore zone regulation is more often than not deeply unrealiable for a whole number of reasons - low capital requirements for company registration, no compliance checks, no compensation schemes, etc. However good the trading conditions of such companies sound, their regulation remains dodgy.
  • #26
  • Apr 23, 2021 11:10pm Apr 23, 2021 11:10pm
Looks like IC Market Global has changed their bank from National Australia Bank to Citibank in London.
IC market claimed that Citibank does not charge any fee to receiving the money or transfer, but intermediary fees may exists. I guess if your home bank is Citibank means there should be no fee.
I also asked if Transferwise (or Wise as they are called now) can be used and they said Yes as long as the account is in your name.
  • #27
  • Apr 24, 2021 3:35am Apr 24, 2021 3:35am
Quoting reddevil
Looks like IC Market Global has changed their bank from National Australia Bank to Citibank in London. IC market claimed that Citibank does not charge any fee to receiving the money or transfer, but intermediary fees may exists. I guess if your home bank is Citibank means there should be no fee. I also asked if Transferwise (or Wise as they are called now) can be used and they said Yes as long as the account is in your name.
I have received money using Transferwise/Wise. It took about 5 days. But I was charged around 40 AUD. IC Markets said they took 20 only, as stated and Transferwise claims no funds or exchange rate was applied. So, I don't know....
  • #28
  • Apr 24, 2021 7:18am Apr 24, 2021 7:18am
Quoting kweiss10
{quote} I have received money using Transferwise/Wise. It took about 5 days. But I was charged around 40 AUD. IC Markets said they took 20 only, as stated and Transferwise claims no funds or exchange rate was applied. So, I don't know....
Transferwise is not a bank, so it need to use a bank. e.g Transferwise use DBS if receiving money in SGD and another bank for AUD. Both DBS and Australia bank will charge for receiving the money if it comes from overseas.

Was the withdrawal done recently *i.e from Citibank? or is it from NAB?
  • #29
  • Apr 24, 2021 10:26am Apr 24, 2021 10:26am
Quoting reddevil
{quote} Transferwise is not a bank, so it need to use a bank. e.g Transferwise use DBS if receiving money in SGD and another bank for AUD. Both DBS and Australia bank will charge for receiving the money if it comes from overseas. Was the withdrawal done recently *i.e from Citibank? or is it from NAB?
It was done about 2-3 months ago.
  • #30
  • May 11, 2021 8:39pm May 11, 2021 8:39pm
Looks like IC market has open a Bahamas jurisdiction. When I asked why they have Bahamas and seychelles, i.e. what is the difference, they couldn't tell me.
  • #31
  • May 12, 2021 12:07am May 12, 2021 12:07am
Quoting james1254
Personally, I firmly believe that it is a good idea to avoid brokers or branches of brokers regulated in offshore zones. Offshore zone regulation is more often than not deeply unrealiable for a whole number of reasons - low capital requirements for company registration, no compliance checks, no compensation schemes, etc. However good the trading conditions of such companies sound, their regulation remains dodgy.
As a general principle I would agree, however, IC Markets is a big properly funded broker. Their reason for going offshore are truly valid and I am glad they did. Unfortunately, this is an example of where the authorities step in with regulations that only protect idiots from themselves at the expense of traders that do know what they are doing.
  • #32
  • May 12, 2021 1:30am May 12, 2021 1:30am
Quoting reddevil
Looks like IC market has open a Bahamas jurisdiction. When I asked why they have Bahamas and seychelles, i.e. what is the difference, they couldn't tell me.
IC Markets can't seem to tell us anything when we ask them. I find this very often with them
  • #33
  • May 13, 2021 8:32am May 13, 2021 8:32am
Quoting kweiss10
{quote} IC Markets can't seem to tell us anything when we ask them. I find this very often with them
It's very unfortunate when a broker's customer service is not very good, especially when there's a problem.
  • #34
  • Oct 20, 2021 4:57am Oct 20, 2021 4:57am
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.
Drolph yet again, defending his masters.....a SELL OUT will always be a SELL OUT!!!
Keep in mind, everything Drolph says or does, has a sponsor in the back of it.
Everyone here knows you are totally sold out to your masters.....your cynicism only makes it clearer.
  • #35
  • Oct 20, 2021 5:25am Oct 20, 2021 5:25am
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.
Yet another self righteous sell out "DROLPH POLLUTED THREAD"....
  • #36
  • Last Post: Oct 20, 2021 8:33am Oct 20, 2021 8:33am
All i know they have an good raw spread account and the execution is not bad.C trader is very good
I realized lately they made a good money on commission, i do not care if i do not have any problem in platform and WD.

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