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IC Markets

  • #601
  • May 3, 2014 1:34pm May 3, 2014 1:34pm
Quoting lewisgod
hi everyone I just joined the broke, good execution speed, and lowst spreads,but i very care the fund security. if you've made a lot of money on this platform, a million dollars. withdraw difficult?
Withdrawals are fine and your money secure in segregated bank accounts. Highly reputed broker and never have any withdrawal issue.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #602
  • May 3, 2014 1:41pm May 3, 2014 1:41pm
Quoting AimHigher
There is unfortunately a misconception regarding most ECN brokers using Metatrader and the slippage parameter. Using Metatrader with an ECN broker that uses a bridge to the LPs, once an order hits the bridge, regardless of whether it is a market, limit or stop order, it can theoretically get slipped any number of pips, depending on what bid/ask that are available from the LPs at that given moment. It does not matter what you set the slippage parameter to. You can test it for yourself by setting the slippage parameter to different numbers e.g. 0....
I use cTrader, and the slippage parameter works perfectly on that (as a news trader its vital for me). Another reason to love cTrader.
  • #603
  • May 3, 2014 1:42pm May 3, 2014 1:42pm
Quoting savingpig
Hi traders, I'm quite unhappy with my current broker because I often don't get filled and the platform is slow. Now I've read a bit about IC Markets and I like the fact that it's an ECN. Now my question: With the True ECN Account I can only trade via MT4? Which means I have to let my computer run all the time? And with the cTrader-Account I can place orders and don't have to let the computer run all the time? I'm not a daytrader so I don't care that much about 0.5 pip spread differences between the two.

Both MT4 and Ctrader platforms don't need your computer to be turn on the whole day. You can always setup your trade and place Stop Loss & Take profit and your trading will be done itself.
Btw, both Ctrader and MT4 accounts are true ECN so there is not much difference in pips between these two. Ctrader has other advantages like negative spread and high frequency trading etc. Generally users choose MT4 based ECN account.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #604
  • May 3, 2014 1:51pm May 3, 2014 1:51pm
Quoting MAM.Trader
IC Markets has the lowest spread I have ever seen in this industry. you can also apply over IB that will give you around %50 discount with commission. Average Spreads in pips EURUSD 0.11 USDJPY 0.25 GBPUSD 0.55 I can advise working with this broker. trading with almost 6 months live, good execution speed. ( I do record everything so information here I post are real time logged data ) Slippage is the issue of all ECN brokers. NO REQUOTE means SLIPPAGE. Market order execution you can NOT limit that. suffer with what you got. if you want to limit slippage...
We have been working with IC Markets since one year and we are totally satisfied with their low spread, execution, they recently added a new Live Server 3 and the clients are more than happy with performance.
We are providing 20% Real time ic markets commission discount and 50% low deposit for starters.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #605
  • May 3, 2014 3:08pm May 3, 2014 3:08pm
Thank you for your help. About 90% of my trades are limit / pending orders. Do these orders also go to the servers?

Quoting MAM.Trader
Last word : Dont expect broker using ECN bridge for 0.01 lot trades. if you want to trade real ECN you should go bigger.
Could you specify why?
  • #606
  • May 3, 2014 3:20pm May 3, 2014 3:20pm
Quoting savingpig
Thank you for your help. About 90% of my trades are limit / pending orders. Do these orders also go to the servers? {quote} Could you specify why?
User accounts need to be first authenticated by login to broker server and verify balance etc. Pending orders are just fine with ECN Account and Lot sizes also does not matter. ECN account will treat your the same way in any case.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #607
  • May 3, 2014 7:31pm May 3, 2014 7:31pm
Quoting Demos4x
{quote} Why do you said that?
FXOpen has an overview of how their liquidity aggregation works and if what they say is true, then that can be classified as an ECN.
https://www.fxopen.com/ECNForexTrading.aspx
FYI, I have never used FXOpen in any way, real or demo, so I do not endorse them in any way. I am just referencing what I have read about them.

A simple way to check if your broker operates as a true ECN is to place a buy limit order inside the current Bid/Ask spread, i.e. where your buy limit price is higher than the current Bid but lower than the current Ask. If the Bid price offered by the broker does not change to reflect your buy limit order, then the broker does not operate as a true ECN.

Aim
  • #608
  • May 4, 2014 2:35am May 4, 2014 2:35am
One final question:

What is your experience with widened spread during news? My current broker has wide spreads for at least a minute around the news event. I don't trade news but it's still annoying.
  • #609
  • May 4, 2014 6:27am May 4, 2014 6:27am
Is "market range" parameter working fine?

Quoting zaghloul
{quote} I use cTrader, and the slippage parameter works perfectly on that (as a news trader its vital for me). Another reason to love cTrader.
  • #610
  • May 4, 2014 10:21am May 4, 2014 10:21am
I have an account with IC Markets, they frequently disconnect, slip like crazy, pause the feed/no prices or feed for several hours, their customer service and live chat is useless and they have many other 'techniques' to play with your account, but don't take my word for it, find out for yourself as this is all documented online by several customers for your interests at Donnaforex.com. You will also see in these threads there are people working for the brokers who will defend IC Markets at any cost as they are being paid to do so.
Tracking the Specialists.
  • #611
  • May 4, 2014 10:59am May 4, 2014 10:59am
my execution weekly average dropped from 1500 ms to 800 ms on order execution is last couple of weeks. was wondering the reason.
if new server added probably clients distributed & that caused the result while IC M had only 2 when I started.

good to hear.

Quoting ahmerkhan
{quote} We have been working with IC Markets since one year and we are totally satisfied with their low spread, execution, they recently added a new Live Server 3 and the clients are more than happy with performance. We are providing 20% Real time ic markets commission discount and 50% low deposit for starters.
My Best Trade is Next Trade!
  • #612
  • May 4, 2014 11:06am May 4, 2014 11:06am
dear trader

I log every connection issue with broker. in general I log every data.
since I am working with IC M I had minor connection issues & I can not complain about it. but on the other hand you also might be right.

you better check the followings.
- if your connection cable or wireless ( such as 3G )
- if you are trading at high impact news hours
- if your latency to broker sever good enough
- if your trading platform heavy loaded
- are you living at an island

check both sides first before coming to a conclusion

I was working with Pepperstone earlier. its also good broker. had no major issues. but I should say connection is more or less the same or even IC M bit better then Pepperstone.

trade well



Quoting Connected
I have an account with IC Markets, they frequently disconnect, slip like crazy, pause the feed/no prices or feed for several hours, their customer service and live chat is useless and they have many other 'techniques' to play with your account, but don't take my word for it, find out for yourself as this is all documented online by several customers for your interests at Donnaforex.com. You will also see in these threads there are people working for the brokers who will defend IC Markets at any cost as they are being paid to do so.
My Best Trade is Next Trade!
  • #613
  • May 4, 2014 11:59am May 4, 2014 11:59am
Quoting Connected
I have an account with IC Markets, they frequently disconnect, slip like crazy, pause the feed/no prices or feed for several hours, their customer service and live chat is useless and they have many other 'techniques' to play with your account, but don't take my word for it, find out for yourself as this is all documented online by several customers for your interests at Donnaforex.com. You will also see in these threads there are people working for the brokers who will defend IC Markets at any cost as they are being paid to do so.
I have had an account with IC Markets for close to a year and my experience appears very different from yours. Compared to other brokers I have tried, I get the fastest execution time with IC Markets and have typically had good experience with their support. I have also experienced slippage but that is generally unavoidable since it is a function of how the market works and is also a function of how Metatrader interacts with the liquidity providers. Slippage during active market hours have been pretty minimal but can indeed get really crazy around news and after hours, but I try to stay away from trading during those periods.

The only real way to avoid slippage is to only use limit orders AND trade with a true ECN broker, alternatively one that offers a FIX connection. That would be one reason to abandon Metatrader in favor of another platform like cTrader. However, cTrader has other shortcomings to consider.

I also only trade through a VPS with a very fast connection to IC Markets. Even though my home Internet is pretty fast and reliable, it is not fast nor reliable enough to rely on for trading, IMO.

FYI, I wish I got paid by IC Markets to provide my opinion of them but alas I don't.

Aim
  • #614
  • May 4, 2014 12:18pm May 4, 2014 12:18pm
Quoting MAM.Trader
my execution weekly average dropped from 1500 ms to 800 ms on order execution is last couple of weeks. was wondering the reason. if new server added probably clients distributed & that caused the result while IC M had only 2 when I started. good to hear. {quote}

Since the beginning of 2014, IC Markets has been go through some major upgrades to their Network system. There were some flaws in past couple of years but now they are completely resolved. You can imagine trading stock indics, FTSE (UK100), DJIA (US30) etc on MT4 is the exclusive feature of IC Markets ECN bridge.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #615
  • May 4, 2014 1:20pm May 4, 2014 1:20pm
Check the Donnaforex.com forum about IC Markets, there are 162 pages full of complaints dating several years, the latest post is this last Friday 2nd May and some fellow is talking about freezes and erratic behaviour, he said he tried the live chat but couldnt get through. IC Markets have been playing games and fucking their customers for years, but dont take my word for it, it is all documented online, anyone wishing to see all of the complaints read through the donnaforex.com forum for IC Markets here: http://www.donnaforex.com/forum/inde...opic=5761.2415
Tracking the Specialists.
  • #616
  • May 4, 2014 1:38pm May 4, 2014 1:38pm
A few posts from the Donnaforex.com IC Markets forum thread in the past months:

'Hi Jon, did you see the gaps on all IC mkts charts today from 1.22- 3.10 server time? I emailed their support asking about it - no reply yet.'

'I have to say the dodgy outsourced live chat operators IC markets uses are really the worse in the business. Not only do they have no manners, they can't even give you the new demo server address without running around giving you incorrect information. I don't use live chat alot but previous times I've used them in 2012 they were just as bad. 2014 still hasn't improved I see.'

'Has anybody else been having problems with their MT4 on ICM Live 2 Server today? Mine now seems ok, but I was getting freezes and very erratic behavior for the last few hours.'

'A couple of days back I too happened to face some issues with one of their live chat support executives, the executive seemed to be uninterested to answer my query.'

162 pages more...
Tracking the Specialists.
  • #617
  • May 4, 2014 1:40pm May 4, 2014 1:40pm
Quoting ahmerkhan
{quote} There were some flaws in past couple of years but now they are completely resolved.
LOL
Tracking the Specialists.
  • #618
  • Edited 1:56pm May 4, 2014 1:46pm | Edited 1:56pm
Quoting AimHigher
{quote} I have had an account with IC Markets for close to a year and my experience appears very different from yours. Compared to other brokers I have tried, I get the fastest execution time with IC Markets and have typically had good experience with their support. I have also experienced slippage but that is generally unavoidable since it is a function of how the market works and is also a function of how Metatrader interacts with the liquidity providers. Slippage during active market hours have been pretty minimal but can indeed get really crazy...
The only thing I can say is, you are lucky that they are not targeting your account, many others have not been so lucky. Good trades.
Tracking the Specialists.
  • #619
  • Edited 2:58pm May 4, 2014 2:33pm | Edited 2:58pm
Quoting Connected
Check the Donnaforex.com forum about IC Markets, there are 162 pages full of complaints dating several years, the latest post is this last Friday 2nd May and some fellow is talking about freezes and erratic behaviour, he said he tried the live chat but couldnt get through. IC Markets have been playing games and fucking their customers for years, but dont take my word for it, it is all documented online, anyone wishing to see all of the complaints read through the donnaforex.com forum for IC Markets here: http://www.donnaforex.com/forum/inde...opic=5761.2415...
The guy you referred was probably using old version of MT4, People install 1000 indicators and open 20 charts altogether need to learn the basics of computer software.
Btw, you are too much jealous of IC Markets credibility. Visit Forex Peace Army for your satisfaction.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #620
  • May 4, 2014 3:17pm May 4, 2014 3:17pm
Quoting Connected
{quote} The only thing I can say is, you are lucky that they are not targeting your account, many others have not been so lucky. Good trades.
Well, with the business model of IC Markets (and other STP brokers) they actually benefit if you as a trader are successful, since if you grow your account, you are likely to increase your trading volume and that is how they make money i.e. from commission on your volume. If your account loses money, IC Markets does not benefit from it. That gain goes to the liquidity providers that took the other side your trades.

Hope you have better luck in the future, with IC Markets or some other broker.

Aim
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