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IC Markets

  • #341
  • Jul 1, 2013 6:22am Jul 1, 2013 6:22am
ok thanx I read it, I am signing up with HFTgroup.
been there done that, Good Bye
  • #342
  • Jul 1, 2013 8:12am Jul 1, 2013 8:12am
Quoting gregosv
{quote} This is just down to a lack of understanding. Bpay is just a simple version of a bank transfer. You do a Bpay or bank transfer after the banks close and it will not be processed until the next day and will then take a day to go through. If you did it Thursday night, it was always going to be there on Monday at the earliest. How this even needs addressing is beyond me, it is the absolute basics of banking.
Learn to read! Whitehorse mentioned Bpay, not Claudia, she didn't state which payment method so ofc it needs addressing otherwise it makes no sense to try to compare to two.
  • #343
  • Jul 1, 2013 11:17pm Jul 1, 2013 11:17pm
Anyone know what differs with data using ECN ICM and std account?

The reason ask is something is set differently on the server/broker side which stuffs EA settings, eg- stop settings are ignored, if set 62 pips, for some reason its actually 1300 pips away. The same happened with FXOpen and their Metatrader server side settings.??

You don't have this trouble with any demo's only live accounts.
My comments are not to be taken as trading advice, not a financial advisor
  • #344
  • Jul 1, 2013 11:41pm Jul 1, 2013 11:41pm
Honestly mate, I would get more honesty out of the forum users than the broker with matters like these.

I did ask and it may be related to all the EA's I use.
My comments are not to be taken as trading advice, not a financial advisor
  • #345
  • Edited Jul 2, 2013 6:52am Jul 1, 2013 11:50pm | Edited Jul 2, 2013 6:52am
Quoting cogs
Honestly mate, I would get more honesty out of the forum users than the broker with matters like these. I did ask and it may be related to all the EA's I use.
Forum users just perpetuate the same drama about broker scam tactics and everyone jumps in on the same negative bias. When you've finally settled down to a "good" broker for the main bulk of your funds, it is actually more productive to work closely with your broker to get on with the job (of making money). Speak to the Head of Trading Desk or Head of Operations, they are more than willing to help you as a client.

IC Markets has started on a round of courtesy phone calls to long-time clients. Keep a list of your technical questions (and complaints). They might call you soon.

Another forum is complaining about their recent slow execution times, although that didn't affect me for some reasons. You can post your question there as well to get more opinions.
Quoting uthor=jonpearce link=topic=5761.msg272200#msg272200 date=1372640463
The new ICM server will be for new accounts only.

Clients who have existing accounts on the existing servers and open new accounts on the new server will alleviate some of the load on the existing servers......if they close there old accounts naturally.

It appears that trade execution times have improved significantly but any excessive times still being observed are more likely related to the mt4 reporting than the actual trade execution time.
Quoting uthor=jonpearce link=topic=5761.msg272290#msg272290 date=1372684702
Quoting uthor=compujock link=topic=5761.msg272289#msg272289 date=1372684254
Quoting uthor=jonpearce link=topic=5761.msg272270#msg272270 date=1372679623
Damn!......they are filling me with crap again?
When the server gets overloaded the first thing that suffers is mt4 reporting.
Ok. That could very well be then. I guess the reason I don't see this with other brokers is because they don't allow their servers to get overloaded. Well, hopefully ICM will monitor their servers from now on and add more servers before it gets this bad.
Think the rapid growth caught a few people out.
I spoke with the CEO earlier and he feels they are on top of it. Substantial amounts have been earmarked for infrastructure.
No longer trading forex. Looking for full time job.
  • #346
  • Jul 2, 2013 12:14am Jul 2, 2013 12:14am
No complaints at all actually, with exception to this strange goings on, that's why I wanted to ask the mass, and not just 'the provider' looking after their own best interests.

What better place to ask than the 'IC Markets' topic.

Mysteriously after my call the problem no longer exists. I will get to the bottom of it, can't be too hard to sort out.

Have only just opened an account with them to give them a try. Very happy with Pepperstone all said and done.

They can call me any time, more than happy to express my views. Been in the business now for over 14 years so would gladly share.

Thanks for your replies.
My comments are not to be taken as trading advice, not a financial advisor
  • #347
  • Jul 2, 2013 8:42am Jul 2, 2013 8:42am
Despite some of the not so great reviews on forums, I have been with IC markets for about month now and everything has been excellent.

The spread + commission is much lower than any other broker than i have seen ( even during new releases) for EUR/USD. I joined the HFT group to get a discount on commissions. the spread for eur/usd is usually about 0.1 pips, the commission is 5.5 round trip which is equivalent to 0.65 pip spread on other brokers with no commission. normally you would be lucky to get 0.9 pip spread.


Their execution is pretty good. I am running an EA on CNS vps (the one that is free as long as u trade 100 lots a month) and it makes trades when a candles closes and a new one opens. So far it usually makes trades about 0.0004 difference from the price shown as the opening price on the chart. This difference also includes the spread. So if the candles opens at eur/usd 1.30567, i might get 1.30563. however i have had (rare) differences up to 3 pips during highly volatile times (not sure if it was because of the spread or volatility). I think this would happen with any broker anyway.

They have been really quick to transfer my money. i have been using Bpay. i made a transfer last friday the 28th of june and it was in my account on monday the 1st july. Their online chat responses are really fast and they gave me that answers that i was looking for.

Hope this helps other people that are contemplating joining this broker.
  • #348
  • Jul 2, 2013 11:37am Jul 2, 2013 11:37am
speed is decent, but it takes a while for speed to pick up so O.o i now just start up the terminal an hour before my actual trading so speed can pick up.
  • #349
  • Jul 4, 2013 8:30am Jul 4, 2013 8:30am
Quoting mmaker
{quote} I didn't know that MT4 platform needs to be warmed up for one hour before execution speed can improve. What was the speed before and after? How do you measure it?
i lost my bforex EA so i can't place a pending order and see it being measured, now i just look at the 'connection' at the bottom right corner. for example, over on excel, connecting to NZ server, i can get 5000 kb right off the bat and it accelerates to about 10,000k. now, for icm, i get about 64 kb once i start up the terminal and it takes about an hour or so to for it to pick up to 11,000k. yes, now it goes up to as high as 11,000k. and so, seeing the poor connection status, never really placed a trade to find out.

in the mean time, still trying to get my hands on the bforex or bbforex (whatever it's called, don't remember the name exactly) EA to get a better test result.
  • #350
  • Jul 4, 2013 9:29am Jul 4, 2013 9:29am
Quoting jhehe
{quote} i lost my bforex EA so i can't place a pending order and see it being measured, now i just look at the 'connection' at the bottom right corner. for example, over on excel, connecting to NZ server, i can get 5000 kb right off the bat and it accelerates to about 10,000k. now, for icm, i get about 64 kb once i start up the terminal and it takes about an hour or so to for it to pick up to 11,000k. yes, now it goes up to as high as 11,000k. and so, seeing the poor connection status, never really placed a trade to find out. in the mean time, still...
I'm also not aware of mt4 needing any warm up period, that wouldn't make any sense. As far as I am aware, the two numbers at the bottom right of the platform are the data that has been downloaded from the broker/uploaded to the broker, not speed. They will increase over time as more data is downloaded/uploaded. More pairs in market watch also changes things, plus how long the platform has been open obviously.

Here is an EA to measure the pending order placement speed. It places about 8 pending orders then cancels them
Attached File(s)
File Type: ex4 ExTest ForExpat.ex4   10 KB | 426 downloads
  • #351
  • Jul 4, 2013 9:43am Jul 4, 2013 9:43am
Quoting muzza
{quote} I'm also not aware of mt4 needing any warm up period, that wouldn't make any sense. As far as I am aware, the two numbers at the bottom right of the platform are the data that has been downloaded from the broker/uploaded to the broker, not speed. They will increase over time as more data is downloaded/uploaded. More pairs in market watch also changes things, plus how long the platform has been open obviously. Here is an EA to measure the pending order placement speed. It places about 8 pending orders then cancels them {file}
but that's strange. over at instaforex, i've seen the numbers fluctuate like crazy O.o
  • #352
  • Jul 4, 2013 11:41am Jul 4, 2013 11:41am
Quoting mmaker
{quote} Yes, he mistaken those numbers as "speed". The left number is number of bytes of data you received from broker server in the form of ticks/quotes. The right number is number of bytes of data your PC sent to broker server. The longer you are connected and the more charts you have open, the higher the numbers will go up. When you close and re-open MT4 it will reset back to zero, same if you lose internet connection and re-connected back.
that makes sense. but still don't quite understand why it would 'drop' without disconnecting..anyways, i'll run the EA and see how it goes.
  • #353
  • Jul 4, 2013 9:31pm Jul 4, 2013 9:31pm
yikes, so it does look like icmarkets is running slow. so basically i take the lowest to the highest range ignoring the loops: 234 ms is my lowest and 391 ms is my highest. regardless of b/s, the most often appeared is 344 ms.

so i also ran this test through excelmarkets to get a comparison and the results do not look good. with excel, they are all consistently under 150 ms regardless of loop # and b/s.
  • #354
  • Jul 5, 2013 12:58am Jul 5, 2013 12:58am
now I am getting 1.5$ on each standard trades.
been there done that, Good Bye
  • #355
  • Jul 5, 2013 10:53pm Jul 5, 2013 10:53pm
Quoting jhehe
yikes, so it does look like icmarkets is running slow. so basically i take the lowest to the highest range ignoring the loops: 234 ms is my lowest and 391 ms is my highest. regardless of b/s, the most often appeared is 344 ms. so i also ran this test through excelmarkets to get a comparison and the results do not look good. with excel, they are all consistently under 150 ms regardless of loop # and b/s.
Under 150ms is good! not bad. The higher the number the slower the brokers executions, just remember it also takes into account how far away your PC/VPS is from the brokers servers.
  • #356
  • Edited 12:26pm Jul 6, 2013 5:42am | Edited 12:26pm
Quoting muzza
Here is an EA to measure the pending order placement speed. It places about 8 pending orders then cancels them {file}
How do you make the results stay on screen longer? I tried it several times but couldn't see the results, they disappeared/deleted very quickly from screen. Did I set something wrong?
Quoting muzza
{quote} The results are shown on the chart in orange lettering, they shouldn't disappear at all unless you close the chart or remove the EA from the chart.
Yes I think I saw the orange letterings, but the EA was automatically removed and everything disappeared really quick to be read. I will see if others have the same problem as me and let me know how to fix it.
No longer trading forex. Looking for full time job.
  • #357
  • Jul 6, 2013 8:14am Jul 6, 2013 8:14am
Quoting mmaker
{quote} How do you make the results stay on screen longer? I tried it several times but couldn't see the results, they disappeared/deleted very quickly from screen. Did I set something wrong?
The results are shown on the chart in orange lettering, they shouldn't disappear at all unless you close the chart or remove the EA from the chart.
  • #358
  • Jul 6, 2013 8:53am Jul 6, 2013 8:53am
Quoting muzza
{quote} Under 150ms is good! not bad. The higher the number the slower the brokers executions, just remember it also takes into account how far away your PC/VPS is from the brokers servers.
that's what i don't understand. i'm in toronto and their server is 'supposedly' in New York. I believe it's the cTrader servers that are in London? ExcelMarket's servers are all the way in New Zealand so why is my connection to NZ better than to NY? O.o
  • #359
  • Jul 6, 2013 11:41pm Jul 6, 2013 11:41pm
Quoting jhehe
{quote} that's what i don't understand. i'm in toronto and their server is 'supposedly' in New York. I believe it's the cTrader servers that are in London? ExcelMarket's servers are all the way in New Zealand so why is my connection to NZ better than to NY? O.o
Excel Markets have NY servers as you can see from here, http://helpdesk.commercialnetworkser...barticleid=174

So that would explain the very good 150ms pending order times. IC should be about the same as they also have NY servers, but if you are comparing a demo to a live account that may explain things. It's also important to test from the same PC/VPS to get a reliable comparison.
  • #360
  • Jul 7, 2013 9:35am Jul 7, 2013 9:35am
Quoting muzza
{quote} Excel Markets have NY servers as you can see from here, http://helpdesk.commercialnetworkser...barticleid=174 So that would explain the very good 150ms pending order times. IC should be about the same as they also have NY servers, but if you are comparing a demo to a live account that may explain things. It's also important to test from the same PC/VPS to get a reliable comparison.
yep, they are tested from the same PC. but not quite sure about being in NY because what I see in the terminal is live-nz. anyways, even if they are both located in the same location, then still doesn't really explain the difference.
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