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IC Markets

These concerns have been repeatedly addressed on other forums, including on FF.

In short, the risk is minimal due to larger accounts that actually carry disastrous margin call risks being segregated to their own accounts as a rule (rather than pooled with smaller accounts they can legitimately threaten), and reduced leverage for these accounts (which reduces the risk of said margin calls).

Further, IC Markets is in no way a market maker, and this fact is explicitly disclosed in their Product Disclosure Statement (PDS). They do not 'bet against' clients, or otherwise take positions against them that they can profit from. Section 4.5 straight up says that it does not seek to make a market or act as a counterparty.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
for those really concerned, why not just go with a CDIC or FDIC broker?
http://forexmagnates.com/gtl-tradeup...up-down-under/，"it’s believed that the GTL owner ‘bagged’ a big one with the aid of the ASIC regulation, used as a front in his latest financial incident."
I recommend to go with FSA UK broker which offers retail clients segregated account and 50K GBP insurance by FSCS. I think FSA is more reliable and strict than ASIC.
Any brokers offering 200:1 leverage is likely a market maker or bucket shop.
I asked for IC annual financial report, but they turned me down. Who knows IC net capital and annual profit/loss?
You may doubt the efficacy of ASIC (to be honest, I can't fault ASIC to the extent that they didn't have any legal precedence to bar GTL's owner), but ICM's PDS seems to speak for itself: it explicitly states that they do not act as counterparties to their clients, and upon scouring the document I cannot find mention of anything that may be to the contrary (as someone who has fairly substantial funds with ICM, I was careful about this). High leverage is only offered at low balances. At high balances with substantial MC risk, they are drastically lowered; accounts $500k and up are limited to 50 : 1.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
Head's up for those trading on ICM, server times are changing from GMT +3 to GMT +2:

Until the next server time change, looks like markets will be open at 22:00 GMT Sunday evening – 00:00 Platform time Monday morning

Closing will be 22:00 GMT Friday evening – 00:00 Platform time Saturday morning
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • Post #446
  • Quote
  • Edited Oct 26, 2013 2:23am Oct 25, 2013 8:13am | Edited Oct 26, 2013 2:23am
Quoting Layzars
Head's up for those trading on ICM, server times are changing from GMT +3 to GMT +2: Until the next server time change, looks like markets will be open at 22:00 GMT Sunday evening – 00:00 Platform time Monday morning Closing will be 22:00 GMT Friday evening – 00:00 Platform time Saturday morning

Actually there was a message sent out to all IC-Market account holders on the mt4 platform. It will still be 00:00 Monday morning open and 23:59:59 Friday evening close market watch time. Only one exception is when Daylight savings time changes in New York City Nov 1st; that friday the market will close 1 hour earlier 23:00:00.

It was one of the original intent of using the GMT +2/+3 system; the trader gets 5 daily bars all the time and does not have to make any changes to time offset in indicators/ea's (except for the 1 day for NYC close apparently).

[begin quote]
IC Markets will be changing the daylight savings time (DST) offset on the server over the weekend. We will be changing the server time from GMT +3 to GMT +2 so it will be moving back one hour. This change is in accordance with the DST change in England and Europe over the weekend.

At present the forex market officially opens at 22:00 London time on Sundayevening and closes at 17:00 New York time on Friday evening (22:00 London time). Since we are changing the GMT offset on the server at the same time as the London change there will be no difference to the opening and closing times in the platform. Our GMT offset remains two hours ahead of London all year round to ensure we maintain a 5 day trading week in the platform.

The new trading week hours are listed below:

Market Open

22:00 GMT Sunday evening – 00:00 Platform time Monday morning

Market Close
22:00 GMT Friday evening – 00:00 Platform time Saturday morning

As DST does not finish in the United States until the following weekend, the market will close an hour earlier in the platform on Friday November 1st 2013. The closing time will be at 23:00 platform time (21:00 GMT, 17:00 EDT – New York close).
[/end quote]

edit: they have updated that the date they will perform the GMT update. Nov 2nd-3rd. The intent as I understand it is to keep the platform starting 00:00:00 Monday and ending 00:00 Saturday for exact 5 daily bars each trading week on the platform. And to keep the rollover times @ 00:00 each trading day.
Measure trends automatically with zero lag
Got another message about the GMT:


[justify]We are delaying the change of our GMT offset from GMT +3 to GMT +2 by a week. We will now be making the change over the weekend of the 2nd-3rd November 2013.[/justify]
[justify] [/justify]
[justify]The session trading times for the next week are outlined below for you.[/justify]
[justify] [/justify]
[justify]Market Open[/justify]
[justify] [/justify]
[justify]21:00 GMT Sunday evening – 00:00 Platform time Monday morning[/justify]
[justify] [/justify]
[justify]Market Close[/justify]
[justify] [/justify]
[justify]21:00 GMT Friday evening – 00:00 Platform time Saturday morning[/justify]
[justify] [/justify]
[justify]Please email [email protected] with any questions about the change.[/justify]
[justify] [/justify]
[justify] [/justify]
[justify]Kind regards,[/justify]
[justify]IC Markets Trade Desk[/justify]
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
yeah i too got notification on my platform, it seems they will delay time change.
been there done that, Good Bye
Quoting mmaker
Can you guys edit the posts to remove the [justify] thing? I would be easier to read. Alternatively screen capture the message from MT4 mailbox.
Done sir. Should be easier to read.
Measure trends automatically with zero lag
ICM website is down for maintenance.

Clients are still able to login to their secure client area here however: https://secure.icmarkets.com/Account...?ReturnUrl=%2f
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
Hey Guys

Does anyone know if IC Markets are still alive? their web site is taken down/off the air, the emails i have sent bounce back, the phone numer i have doesnt answer.... (so looks like i might have done my dough) I also requested a withdrawl to my CC but that was days ago and I cant get an answer.. Has anyone heard anything?
Yes it is working!
now things are working as normal, there was some glitch in DNS thingy, any ways I hope they try to update clients before people starts freaking out.
been there done that, Good Bye
Quoting mmaker
{quote} They have several IBs (introducing brokers) who will help to pass information around the internet forums. If you opened your account with any of these IBs or worked with them on any commerical EAs/robots/VPS, then you should get your communication from them.
I am already under HFT group.

and got no info from them.
been there done that, Good Bye
Just did a withdraw - working.
I've just checked and it's still working.
Those who still can't see the site likely need to flush their DNS.

If you are having this issue, close your browsers, then flush your DNS per these instructions: http://docs.cpanel.net/twiki/bin/vie...ngBrowserCache
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
IC Markets is too slow 420ms really!!!??? What the heck is this... What kind of servers to they run there... Maybe they are still on dial up?!
Attached Image (click to enlarge)
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Be like water go with the flow
Quoting maflip
IC Markets is too slow 420ms really!!!??? What the heck is this... What kind of servers to they run there... {image}
Do a test on your own....
Attached File(s)
File Type: ex4 ExTest ForExpat.ex4   10 KB | 266 downloads
Be like water go with the flow
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting maflip
IC Markets is too slow 420ms really!!!??? What the heck is this... What kind of servers to they run there... Maybe they are still on dial up?! {image}
True, usually they have been around 150ms faster on my NY vps . Thanks for bringing this up...
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