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IC Markets

  • #221
  • Apr 27, 2013 11:58am Apr 27, 2013 11:58am
Quoting nomadic123
I'm in the middle of hunting for a broker and I'm 90% sold on ICM. But I cant decide between 'Standard' or 'True ECN'. The Standard account has EUR/USD spreads from 1 pip. The True ECN account has EUR/USD spreads from 0 pips, $7 per round turn lot. I'm trying to figure out which is the cheapest. So I tried to calculate how much it would cost it open and close a EUR/USD trade. Does my math check out? I don't know why anyone would go with the standard account. It looks like the ECN is always cheaper.... correct? Standard Account Normal Lot: $10...
definitely the true ecn. now, it says spreads start from 1 pip for standard, but that's just another way of saying "I know you want to come to us because you think the 1 pip spread is what you will be trading with", but in reality, the 1 pip spread is the minimum as they have buffed it by 1 pip. considering their true ecn spread starts at 0 pips, we can only assume that there's been a 1 pip spread buff. now, i have been demoing on the true ecn account for a while now and i find that the spread under good market conditions are usually about 0.2 to 0.3 and can go up to 0.6 during some sessions. also, during market open and close time, the spread will become wider to 1.6 and higher even, but i doubt you'll have to worry about that because no one usually trades during those sessions anyways. the $7 round lot commission translates to 0.7 pips which if you were to add an average 0.4 pip spread on the true ecn account, you would get a total spread + fee of 1.1 pip or so. now, this is only 0.1 pip higher than their standard 1 pip minimum spread, but considering that the 1 pip spread does not come to often as it is a minimum, we can buff the standard spread by 1 pip so the average standard spread would be around 1.4, which you would be saving more with the true ecn account.
  • #222
  • Apr 27, 2013 5:31pm Apr 27, 2013 5:31pm
Quoting jhehe
{quote} we can buff the standard spread by 1 pip so the average standard spread would be around 1.4, which you would be saving more with the true ecn account.
It also depends on what currency pair you will be trading.
EURUSD would probably have the lowest spread and that's the pair many brokers are using when they are quoting their 1 pip figure.

I wouldn't worry about the spread too much.
Learn to trade first and when you have a strategy that works and you have consistent wins the spread will become secondary.
Have a nice day
  • #223
  • Edited 12:35am Apr 28, 2013 12:23am | Edited 12:35am
Anyone NOT being moved to the new server this weekend? If your symbol set still has the "i" suffix e.g. EURUSDi then you are still on old server. I suspect everyone is being moved, not just simply adding new server for capacity. The current server is plagued with slippage and freeze problems.
No longer trading forex. Looking for full time job.
  • #224
  • Apr 28, 2013 5:39am Apr 28, 2013 5:39am
Quoting mmaker
Anyone NOT being moved to the new server this weekend? If your symbol set still has the "i" suffix e.g. EURUSDi then you are still on old server. I suspect everyone is being moved, not just simply adding new server for capacity. The current server is plagued with slippage and freeze problems.
mmaker
If your MT4 showns no connection then you'll have to move.
I'm suspecting that their old servers will stop working
Have a nice day
  • #225
  • Apr 28, 2013 3:05pm Apr 28, 2013 3:05pm
Quoting billv
{quote} mmaker If your MT4 showns no connection then you'll have to move. I'm suspecting that their old servers will stop working
not sure bout me, i'm still demoing so not quite sure if this will affect me in anyway. i do not have a cash account with them and just currently using a demo. logged in just now and received a connection.
  • #226
  • Apr 28, 2013 8:43pm Apr 28, 2013 8:43pm
Hey guys.

I have just talked with support at ICM. The demo accounts have not moved over to the new server yet. So they will still show 6 candles per week, not 5. The prices are still the same though.

The demo account will be moved over to the new server in the next fortnight. Then the feeds will be indetical.
  • #227
  • Apr 28, 2013 11:48pm Apr 28, 2013 11:48pm
Hi guys,

Which broker name should I select for the new IC Markets server? Links to Myfxbook, FXStat, TradeExplorer are all broken with the IP address change.
Attached Image
No longer trading forex. Looking for full time job.
  • #228
  • Apr 29, 2013 4:38am Apr 29, 2013 4:38am
Quoting mmaker
Hi guys, Which broker name should I select for the new IC Markets server? Links to Myfxbook, FXStat, TradeExplorer are all broken with the IP address change. {image}
contact support of each tracking site and copy/paste the email or official blog post url with server information and brief description of the issue.
Measure trends automatically with zero lag
  • #229
  • Apr 29, 2013 10:47pm Apr 29, 2013 10:47pm
for anyone demoing like me, you have to download and install updated terminal with location to demo.icmarkets.com instead of their previous icmarkets-demo.
  • #230
  • Apr 30, 2013 9:12pm Apr 30, 2013 9:12pm
Quoting jhehe
for anyone demoing like me, you have to download and install updated terminal with location to demo.icmarkets.com instead of their previous icmarkets-demo.
When you re-installed the new MT4 charts, and changed the server to demo.icmarkets.com, did you get 5 daily candles per week? Or is it still showing 6 per week?

To check just open a Daily chart and watch the date. It should go something like: 15th April, 16th April, 17th April, 18th April, 19th April, <SKIPS 20th and 21st>, then 22nd April, 23rd April, etc. Hope that makes sense.

I hate having multiple installs on MT4 on my pc. But if the demo now has 5 daily candles per week (aka New York close times) I'll be happy
  • #231
  • May 1, 2013 9:34pm May 1, 2013 9:34pm
guys any reviews on this broker...implanning to open an account with them....please share if you have any
  • #232
  • Edited 11:55pm May 1, 2013 11:01pm | Edited 11:55pm
Quoting arogantrader
guys any reviews on this broker...implanning to open an account with them....please share if you have any
They had ongoing slippage and frequent platform freezes, and during the last NFP the charts were down for over 30 minutes (there were various missing bars problems before that). They moved to a new server just last weekend April 27th-28th promising to fix the terrible problems. So if you give them a fresh chance, then monitor the performance of the new server from here on.

The complaints on this thread and the other forum were about the slippages and chart freezes on the old server, and the fact that they don't communicate with clients but prefer to pass message through IBs and signal providers or EA vendors, who then post the "official" explanations on forums. So if you're not on these forums you don't get the info. The server change this past weekend was a good example, most clients did not receive any email notifications and found their platform disabled on weekends and had to scramble to check the forums to find the login instructions (re-posted by IBs and EA vendors). The official emails did arrive afterwards late Sunday and Monday after the complaints made on forums.

Give them a try, maybe things will improve going forward now that they have moved to a new server. They are aware that emails were not reaching clients the weeks before (pointing to unsubscribed or spam filter was lame excuse) and I'm sure they know what to fix now.

Old server:
ICMarkets-Live.srv
ICMarkets-Demo.srv

New server (after April 28th):
ICMarkets-Real.srv
Demo-ICMarkets.srv
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ICM.png Size: 26 KB
Click to Enlarge Name: 1.png Size: 117 KB
No longer trading forex. Looking for full time job.
  • #233
  • May 1, 2013 11:40pm May 1, 2013 11:40pm
after a very bad experience with EXNESS (feeling kind of cheated actually)

just today opened account with icmarkets.

tried there demo for 2 days and seems they are quite good.
been there done that, Good Bye
  • #234
  • May 2, 2013 5:37pm May 2, 2013 5:37pm
very strange, after downloading and re-installing their new terminal, all my EAs are gone, by meaning of this is the eas provided by ICM, which I don't use too much except the mini-terminal. if it isn't too much trouble, could someone upload the mini-terminal plus the associated dll and other config/settings files?

contacted icm several times now, finally got them to attach the ea, but no dll files so still won't work.
  • #235
  • May 2, 2013 9:11pm May 2, 2013 9:11pm
Quoting jhehe
very strange, after downloading and re-installing their new terminal, all my EAs are gone, by meaning of this is the eas provided by ICM, which I don't use too much except the mini-terminal. if it isn't too much trouble, could someone upload the mini-terminal plus the associated dll and other config/settings files? contacted icm several times now, finally got them to attach the ea, but no dll files so still won't work.
Extract the dll's into your experts/libraries folder
Attached File(s)
File Type: zip libraries.zip   195 KB | 267 downloads
Have a nice day
  • #236
  • May 7, 2013 7:25pm May 7, 2013 7:25pm
IC staff was caught with shill accounts all over Donnaforex.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-05-05_20-52.jpg Size: 9 KB


http://www.donnaforex.com/forum/inde...0385#msg260385

A few of the names were regular posters always praising IC Markets. Some of the same names were found all over the net doing the same.

I wonder who here on FF are really just IC staff.

Shady.
  • #237
  • May 7, 2013 7:32pm May 7, 2013 7:32pm
Quoting billv
{quote} Extract the dll's into your experts/libraries folder {file}
thanks for getting to me so fast! tbh, ICM support isn't the greatest when it comes to addressing these concerns and still not quite sure why i didn't get the full ea package when downloading.

anways, for the rest of you, they do not give out trade receipts and do not publicize their liquidity providers and which were used. read over on donnafx and basically globalprime seems to be the only one doing this. hopefully more and more brokers will give out trade receipts in the future.
  • #238
  • Edited 10:41pm May 7, 2013 10:30pm | Edited 10:41pm
Quoting jhehe
{quote} thanks for getting to me so fast! tbh, ICM support isn't the greatest when it comes to addressing these concerns and still not quite sure why i didn't get the full ea package when downloading. anways, for the rest of you, they do not give out trade receipts and do not publicize their liquidity providers and which were used. read over on donnafx and basically globalprime seems to be the only one doing this. hopefully more and more brokers will give out trade receipts in the future.
Global Prime still charges $7 per lot per round turn compared to IC Markets' and AxiTrader's $5.50 with IB discount (another broker who shall not be named was $4). Spoke to Jemook and they currently do not have discount programs. I tried to open account with Global Prime but the banking details and deposit method was very difficult so I did not complete the online form.

Quoting WiseOldMan
IC staff was caught with shill accounts all over Donnaforex. {image} http://www.donnaforex.com/forum/inde...0385#msg260385 A few of the names were regular posters always praising IC Markets. Some of the same names were found all over the net doing the same. I wonder who here on FF are really just IC staff. Shady.
Angus Walker is Head of Trading Desk so using his own name on forum isn't "shady". I know timytots was banned at DonnaForex.

I need some help, can anyone go to your IC Markets' MT4 directory, under the Config folder, send me your *Demo*.srv files? I can't seem to get the demo account to work after the server change.
No longer trading forex. Looking for full time job.
  • #239
  • Edited 11:35pm May 7, 2013 10:59pm | Edited 11:35pm
Quoting mmaker
Angus Walker is Head of Trading Desk so using his own name on forum isn't "shady". I know timytots was banned at DonnaForex.
No, if he was just posting as himself and correctly labeled as an IC rep that isn't shady at all. But, if you read the moderator's note and see the attached image, it suggest that Angus possibly was posting as crazycat, bennyfx, and others on the IC thread.

Caught by the IP range check, posting as clients. Saying stuff like this, and this.

Look at post history of the other member names the mod at Donna proved were connected. More of the same. That or insulting other brokers then promoting IC.

That's the shady part.
  • #240
  • May 8, 2013 4:00am May 8, 2013 4:00am
Quoting mmaker
{quote} . I need some help, can anyone go to your IC Markets' MT4 directory, under the Config folder, send me your *Demo*.srv files? I can't seem to get the demo account to work after the server change.
here you go
Attached File(s)
File Type: zip ICMarkets-Demo.zip   < 1 KB | 389 downloads
Have a nice day
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