Anyone have info on International Capital Markets? (IC Markets)

While there can be arguments for both sides here, as a potential customer I can tell you that Marv shares my own concerns.

In my OP I noted the company was unheard of, the reviews were suspect, and someone from IC was bascially caught redhanded on FPA pumping. (I can almost overlook the review thing, a new company has to try to be known and gain cred somehow)

Now Marv has wisely pointed out two more "potential" issues that I was not aware of above, both which are VERY suspect and worse than the other 3.

I would like to see someone test their MT4 live for the VDP detailed here:
http://www.forexfactory.com/showthread.php?t=70582

but at this point, like Marv, IC is no longer a consideration for me, there are too many suspect points and too many other Brokers that don't have these 'potential' issues. (A shame because there were many good points too)

Thank you again Marv and good trading to you sir

You only have to understand one thing to realize why Marv and myself think they way we do.

Brokers are guilty, until proven innocent. When 90% of them are rotten, this is the sad truth. I have spent a RIDICULOUS amount of hours trying to find a Broker, and my extensive unbiased research unveils one after the other of Brokers ripping off their customers in one way or another or many ways.

True there is no proof of IC (that we know of) , but as I outlined above and as both Marv and I have pointed out, why would we take a chance with too many red flags present.

I understand perfectly your stance - and I completely agree with it. For the last 5+ years, I'm in a constant search for a good broker (and due to pecularities of what I'm doing, it has to be an MT4 one). Even when I find a good one, I start immediately to look for a backup. I've been with FXDD, Alpari, MBT, GoMarkets (maybe there were more). Each one, in turn, seemed to be the best option for me, but then I would either discover their dark side (using Marv's term) or they would simply change their performance (GoM was perfect for some time). I will not be surprised if ICM, as others, will get worse as time goes by, but for the meanwhile, it's the best broker ***for my needs*** I could find. As I know, how hard it is to find decent information on brokers (that doesn't come from new traders that blame a broker on their failures), I thought it would serve the community if I posted my opinion. Whoever wants to use it as an input (among many other pieces of information) is welcome, whoever doesn't - is also welcome to disregard it...

In any case, I wish you the best of success in your quest for a good broker and in your trading.

Indeed.

I think trading is hard enough for retailers without brökers trying to have an even better edge over them. I believe every single one of them deserves a real and fair opportunity and a very good standard of services. For that reason I don't hesitate to push brökers to improve and put pressure on them (publicly or not) when I don't see real transparency or fairness.

It's our hard earned dollars on the line, and we have the right to the best deal out there. Even if our doubts were somehow wrong, brökers should remain completely polite and transparent. Don't like it? There's always a better company. May the best win the most clients.

In that sense, no one can "regulate" this business like traders themselves can.

Good trading to you too.

I'm glad to hear IC is working for you, and it does look like there are other happy 'real' customers amongst some of the fake reviews.

As Marv points out, at the end of the day we are the most important regulators. We can only hope laws, penalties, etc become more stringent over time and companies become more and more transparent and honest.

Thank you for posting and success and good trading to you as well

I really do not like to see a good broker slammed like this. And I have more than four posts in this forum. I believe I have also demonstrated that I will not hesitate to call foul when I see one, regardless of the size of the broker.

IC Markets is on the up 'n up. I can also vouch for Angus as I have personally spoken with him on many occasions. IC Markets is one of the brokers bundling with us, sponsoring VPS's for their traders. If there are any issues with IC Markets, I would have heard about it. There are none.

I should add that there are few brokers who actually holds a class for new traders to learn forex trading, instead of letting them go straight to slaughter like cattle. I think that earns them a little extra credit, don't you?

I am also very familiar with the company that provides their back-end. Actually I know the president quite well. He too is a good guy, most definitely not a scammer. In fact, they will be going 'on net' with us soon. i.e. directly connected to traders in our NYC datacenter.

I hope this helps

For everyone who actually cares, read this thread for an example of what I'm talking about regarding this susicious bröker:

http://www.forexpeacearmy.com/forex-...c-markets.html

Use basic commonsense and draw your own conclusions.

Also check this out:

http://www.forexfactory.com/showthread.php?t=278085

Just notice the first reply, see that positive comment by a poster who joined just to make that one single post? This kind of thing happens ALL the time with IC Markets. Coincidence? Again, you decide.

As for the posters in this thread who praised IC Markets and are now butthurt because of my opinion about it, the only one of them who has enough posts AND who is not a commercial member (and so can be taken seriously) is ilanr. But what you should note is that ilanr has only been trading with IC Markets for some weeks (he said it in the other thread). Talk about real experience with a bröker. He spent "so much time" with it and "knows it so well" that he would attack other people just to defend it. (but I don't think he works for it, and I apologize to him/her if I implied that anywhere. I just don't think he/she knows better in terms of how deceptive some can be in a business like this)

By the way, IC Markets is also involved in cases of refused withdrawals. This has been reported by certain unfortunate traders but unfortunately their reviews seem buried by the tons of similar-looking happy comments faked by IC Markets.

There's even more (I might add that later).

Now don't forget that this bröker is a partner of the ridiculous bucketshop called eToro, and is proud with such partnership.

Add that to the obvious lack of any notable reputation (despite the fake comments).

As you can see, when you put these pieces together, the logical result is: Tread with extreme caution.

That is all I'm saying, and I hope it helps.

PS. They'll continue to attack me for this. lol Unfortunately for them nothing they say is going to provoke me.

Marv your reply that my comments are in any way misleading or even a conflict of interest are way off base. As I have said, my history (going back to 2007) more than demonstrates that I will call it exactly as I see it - and that most definitely includes any broker bundling with us. To the point that sponsors of this forum have complained in the past. If you or anyone else have *any* information to suggest that my post is in any way dishonest or misleading then I would really like to hear that. The fact is my professional relationships have given me an in depth understanding of IC Markets and their back-end provider, and this information which I have shared is indeed helpful to the topic.

I have been over the 'commercial member' thing with the forum admin's before. And at that time, they agreed I am more of a professional member than a commercial one because my posts tend to contribute rather than deliberately sell any service. In fact I do not need to sell our service - our current subscribers do that quite well. Additionally, we have a number of brokers bundling with us and any one broker is not going to make or break us.

Now looking at your forum history, I see posts about paranormal topics, silliest broker names and others. Your posts historically tend to generate more conflict than anything else. And while I believe that is actually helpful to a healthy discussion when applied with some degree of moderation, I will not stand by while you or anyone else question my integrity. So if you have anything to disclose about that then please do so right here right now.

Your post referencing a link to forex peace army also has contains positive feedback which you have failed to mention. And if you were to lookup most any broker, you will find at least one person with a complaint. That is just nature of the business they are in. People do not tend to seek out sites like FPA to post positive feedback. When was the last time you searched for a site like that to post comments about your bank?? You don't. I don't either. but I suspect you would do that if you had a gripe to share, and would probably not follow-up either when/if it is satisfactorily resolved.

Certainly you have offered some helpful input for anyone to make an objective decision, but your post that I am not objective and therefor the information is misleeding is dead wrong. I think you already know that and you just don't care.

I should add the broker is regulated in Australia.

In any case, as you have successfully hijacked the thread - I'm out.

edited: I should add that even this site - forexfactory - has negative comments on FPA. Do your own due diligence.

Barry,

Your last post makes a lot of sense and i hope the antagonist reads it.
I for one, feel like this thread has been hijacked and derailed for no good reason by the one poster.
Even though i only have a handful of posts to my name, I thought I had something of value to share with the OP who wanted to know about peoples experiences with this broker. It is a shame that some people do not want to have an informed debate - but instead choose to mislead people with their own bias.
I will now think twice before sharing my experiences - good or bad -with other members on this forum and no doubt others will as a result of people like Marv.
If he had something constructive - I would have listened to it but instead he chose to shut down all legitimate discussion and have a rant.

It was interesting to hear about the 'back end' of ICM as I am waiting for other commodity CFDs to come online through MT4. I rang Angus on Monday to ask him how much longer I have to wait until the CFD's are available - but it seems to be open ended and roughly the end of April? I am already swapped over to the new NY servers and can see a difference.

Marv,
I am sick of your ill-informed rants deriding me and calling me a spammer etc. You have not even justified your accusatory posts with any real information.
Enough is enough.


Journeyman

Nice broker list. Good info.

anguswalker

how much is the commission fee?
what's the smallest lot size?
what currency is the account going to be?
how much do i have to start from?

i looked into the IC Markets homepage but couldn't find any details.

Hi Zanky,

I've been on holidays so haven't had a chance to reply to your email..

Our commission is $7 per round turn lot traded.

The smallest lot size is currently 5,000 units (50c pip), we are making plans to accept orders smaller than this very soon.

You can have an account in any of the major currencies (AUD, USD, GBP, EUR, JPY, NZD, CHF, SGD and more).

You can open an account with $200, however given the minimum lot size of 5,000 units it would be hard to manage your risk with this much..

Our leverage can go as high as 500x.

Let me know if i can provide any additional information.

kind regards,

Angus

Hi there, just trying to understand this whole commission deal,

Lets try an example,
account size $5000.00 AUD

Sell AUD/USD for 1.0

Close position some time later @ 10 pip profit.

so IC markets takes $7.00 commission or $70.00 commission?

Btw, does IC markets counter-trade each position? Eg. I make money, IC Markets lose, etc.

Also by 5000units you mean 50c per PIP right = 0.05?

Hi Search1ng,

we charge per round turn lot traded. this means that for everyone 1 standard lot we will charge you $7 (round turn), see below.

1 mini = 70c commission
5 mini's = $3.50 commission
1 std = $7 commission
1 mio = $70 commission

In the example you gave the commission would be $7..

We can also charge in USD Notional terms through the MT4 platform, this is our preferred method for higher volume traders.

The P/L on a client's position does not affect the commission charged.

IC Markets is a True ECN broker so we do not take the other side of your trade.

5,000 units = 50c Pip = MT4 Volume 0.05

Hope this clarifies.

kind regards,

Angus

Anguswalker,

Does your company accept US clients currently? if not not, any plans in the future?

Thanks.

Gday Angus,
Mate I know I keep asking - but when are the cfds available on the mt4 platform to trade ?

Cheers
Matt

Hi gy4,

we do not accept US clients at present nor am i aware of any plans to do this in the future.

Matt,

we are onto it. These things always take longer than expected.. I have knocked $3 per rt/lot off your commission to keep you busy with the FX in the meantime.

kind regards,

Angus

Thanks Angus.
It's appreciated.
One thing I really like about your ICM MT4 version is your 'Mini Terminal' EA.
Its great for my style of intra day trading where i want to reverse a position quickly.
I have that permanently on in the top left hand corner of my charts!
Only recently discovered it after looking at some videos on the IC Markets vimeo website.
Cheers
Matt

it would be nice to have an Australian broker, but IC's association with eToro is all i need to walk the other way

if IC is aiming at the highest professional standards, its relationship with eToro tarnishes that attempt, and consequently sows a seed of doubt........which is all i need

it's a good point you make Marv

Hi Angus I would like to know your response to the Etoro connections?