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  • #41
  • May 21, 2014 7:35am May 21, 2014 7:35am
Quoting scalpereagle
Do not make the mistake of opening an account with icmarkets. they do not respect market gaps. supposedly eurousd friday close was 1.39 and sunday open gapped to 1.3850, icmarkets will not give its clients the advantage of that, it will widen the spread for that gap for more than 10 minutes, that concludes it trades against its clients. many times just the pair the client have open position for will have wide spread. bad broker
Dude, that gap is because of widening spread, not the other way around. Thats not a real gap. You can observe this every day at rollover period, not just on weekends (although weekend widening is bigger).
  • #42
  • May 21, 2014 8:08am May 21, 2014 8:08am
Quoting zaghloul
{quote} Dude, that gap is because of widening spread, not the other way around. Thats not a real gap. You can observe this every day at rollover period, not just on weekends (although weekend widening is bigger).
folk, you look to be an icmarkets employee, never heard or saw something named market gap for fundamental news or whatever reason in the weekend that results in market opening in differrent price(wide) than it closed on friday.
I said Real Gap not rollover period that results in small spread widening, that is barely noticed at most good brokers and wider for others. icmarkets could have the pair that had real gap of 50 pips showing it in bid ask like 1.3850 1.39, good brokers have it 1.3850 1.3860, you see the difference when there's a sell position from 1.39, the client can't close it with icmarkets, but can close it on 40 pip profit with others.
icmarkets trades against its clients.
  • #43
  • May 21, 2014 8:41am May 21, 2014 8:41am
Quoting scalpereagle
{quote} folk, you look to be an icmarkets employee, never heard or saw something named market gap for fundamental news or whatever reason in the weekend that results in market opening in differrent price(wide) than it closed on friday. I said Real Gap not rollover period that results in small spread widening, that is barely noticed at most good brokers and wider for others. icmarkets could have the pair that had real gap of 50 pips showing it in bid ask like 1.3850 1.39, good brokers have it 1.3850 1.3860, you see the difference when there's a sell...
I'm not an employee. Also i thought ur talking about 5 pips not 50. Anyway, this is how my 5min chart looks on cTrader.
Attached Image (click to enlarge)
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  • #44
  • May 21, 2014 9:06am May 21, 2014 9:06am
Quoting zaghloul
{quote} I'm not an employee. Also i thought ur talking about 5 pips not 50. Anyway, this is how my 5min chart looks on cTrader. {image}
Nah, not 5 pips that's normal, said Real Gap, icmarkets does not respect it(widens spreads as much as the gap!) = clients can't take advantage = icmarkets trade against them.
  • #45
  • May 21, 2014 9:36am May 21, 2014 9:36am
can you pls post the gap on chart
Quoting scalpereagle
Do not make the mistake of opening an account with icmarkets. they do not respect market gaps. supposedly eurousd friday close was 1.39 and sunday open gapped to 1.3850, icmarkets will not give its clients the advantage of that, it will widen the spread for that gap for more than 10 minutes, that concludes it trades against its clients. many times just the pair the client have open position for will have wide spread. bad broker
My Best Trade is Next Trade!
  • #46
  • May 22, 2014 2:25am May 22, 2014 2:25am
Quoting MAM.Trader
can you pls post the gap on chart {quote}
Here we go: eurochf friday close was 1.2216, icmarkets open came 1.2202, other brokers(managed to take a Screenshot of one for comparison) open was 1.2220 and rose, initial gap up 4 pips for others, initial gap down 1.2202!!!!!!!!!!
Not just that, 44 pips spread on eurochf!!!!!!it does not move that much for a whole day!!!! Who had a buy order could had closed for profit with others, for loss with icmarkets 1.22466!!!!
searched for past charts, couldn't find a saved one other than this attachment, had charts of horrible spreads on eurousd, audusd, gbpusd, eurogjy that show similar way of widening the spread to become the 40-50 pip gap difference. deleted them way ago when stopped trading with icmarkets, lucky to find one left.
for my good just deposited a minimum amount to test the broker, made 40% profit in less than two week time, withdrew all money after discovering that such spreads are not occasional, it is icmarkets habit. bad broker.
Attached Image (click to enlarge)
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  • #47
  • May 22, 2014 4:20am May 22, 2014 4:20am
Quoting scalpereagle
{quote} Here we go: eurochf friday close was 1.2216, icmarkets open came 1.2202, other brokers(managed to take a Screenshot of one for comparison) open was 1.2220 and rose, initial gap up 4 pips for others, initial gap down 1.2202!!!!!!!!!! Not just that, 44 pips spread on eurochf!!!!!!it does not move that much for a whole day!!!! Who had a buy order could had closed for profit with others, for loss with icmarkets 1.22466!!!! searched for past charts, couldn't find a saved one other than this attachment, had charts of horrible spreads on eurousd,...
Wooo, it's crazy dude...I'm lucky not use this broker
  • #48
  • May 26, 2014 3:02am May 26, 2014 3:02am
Quoting scalpereagle
{quote} Here we go: eurochf friday close was 1.2216, icmarkets open came 1.2202, other brokers(managed to take a Screenshot of one for comparison) open was 1.2220 and rose, initial gap up 4 pips for others, initial gap down 1.2202!!!!!!!!!! Not just that, 44 pips spread on eurochf!!!!!!it does not move that much for a whole day!!!! Who had a buy order could had closed for profit with others, for loss with icmarkets 1.22466!!!! searched for past charts, couldn't find a saved one other than this attachment, had charts of horrible spreads on eurousd,...
the screenshot you have shown is during the rollover time when there is both a gap and wide spreads. This information is outlined in the product specification sheet here http://www.icmarkets.com/wp-content/...tion-Sheet.pdf

they go offline for 4 minutes to prevent wide spreads and erroneous prices stopping clients out.
  • #49
  • May 27, 2014 5:48am May 27, 2014 5:48am
Quoting logesharun
{quote} the screenshot you have shown is during the rollover time when there is both a gap and wide spreads. This information is outlined in the product specification sheet here http://www.icmarkets.com/wp-content/...tion-Sheet.pdf they go offline for 4 minutes to prevent wide spreads and erroneous prices stopping clients out.
icmarkets representative, your words mean nothing. The chart reveals your broker truth!!!!!
How come eurochf had 44 pip spread, all other pairs have few pip spread? How come other brokers had it open 1.2220, icmarkets open 1.2202!!!
Stopping clients out comes from 44 pip spread not market real gaps that is acceptable by a trader because it's REAL price.
It was not about rollover period, all know in rollover time very very very rare to find a pair spread 44 pip(other than the very exotics), can not remember when was the last time time eurochf had that spread in any respectful broker. icmarkets can have the right to prevent trading in first 4 minutes, but it does not have the right to widen spreads and close market gaps by it. When the client can't close positions in the first 4 minutes, how icmarkets protects clients from stopping out?! When icmarkets widens the spreads that much, that will stop out clients or prevent them from benefiting from market gaps, that is your goal!!!!!!!!!!!!
  • #50
  • May 28, 2014 11:00pm May 28, 2014 11:00pm
Scalpereagle, I mentioned about your comments to IC Markets support, please find the official response from IC Markets' Head of Trading desk.

Quote
Hi Scalpereagle,

Several IC Markets clients mentioned your posts to me so I thought I should provide an official IC Markets response to your concerns about spread widening.

Firstly, we are aware that spreads widen on our platform around the EOD (end of day) period (00:00 platform time) every day. This is a well known and documented attribute of dealing with an ECN broker. As everyone knows, this phenomenon is caused by fewer LPs ‘making prices’ over this period.

To clarify, IC Markets does not ‘make prices’ or widen spreads. The prices you see in your platform are quotes from our LPs.

We know that the degree to which spreads will widen varies from day to day and that it is very inconsistent, especially on the crosses. For this reason we stop pricing for four minutes over the EOD period to miss the widest spreads and reduce the risk of erroneous prices being feed into the platform. Despite our best efforts there are still wide spreads and erroneous prices over this period and this will continue to be the case so long as we continue to offer True ECN connectivity.

We are a True ECN forex broker. This means that 99% of the time we have tight spreads and great execution. The other 1% of the time during EOD and high impact news announcements you will see spreads widening and sometimes erratic price action.

Thankfully we have great clients and most of which trade during the 99% window when we have great pricing and execution. if you were affected by a wide spread on EURCHF then we would be happy to review. For future reference the best protection is to trade during the 99% window and use caution if carrying intraday positions through these wider spread times.

All the best.

Kind regards,

Angus Walker | Head of Trading Desk | IC Markets
  • #51
  • May 30, 2014 5:43am May 30, 2014 5:43am
Hey traders, does anyone have current, real, stats of execution times (only true ecn live accounts, mini lots or even micro lots) at ICMarkets (preferrably E/U, Europe based traders, London session)?
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  • #52
  • May 31, 2014 1:53am May 31, 2014 1:53am
Quoting logesharun
Scalpereagle, I mentioned about your comments to IC Markets support, please find the official response from IC Markets' Head of Trading desk. {quote}
Typical reply from a broker that manipulate prices. Respectful brokers that DISALLOW trading in the first 5 minutes, in the last 5 minutes of the rollover period, and in weekend open, do not let prices run in its platforms at that time, they open live data 00.05, not like icmarkets 00.00 and widen the spread, allowing trading.

icmarkets "the best protection is to trade during the 99% window" : WOW the broker want to advice clients when to trade. If eurousd opened on a 50 pip down gap and the client had a sell order, must not be able to close it for that good profit, because icmarkets widens the spreads to the gap price!!!!
This is not ECN Real Trading. clients are responsible for their carry trade positions when it appears to their favor "and" disfavor in market real gaps, not the broker responsibility to decide what's best, that turns to be the worst. icmarkets deceiving clients.

The biggest myth icmarkets said was "protecting clients from being stopped out". icmarkets widens the spreads, closing market real gaps(not rollover period small spread) and not just that, icmarkets also ALLOWS OPENING AND CLOSING POSITIONS AT WEEKEND OPEN AND ROLLOVER PERIOD.
THIS IS WHAT STOPS OUT CLIENTS ACCOUNTS.

It's for all who are reading the thread and icmarkets disgrace reply to judge now.
  • #53
  • Jun 4, 2014 7:22am Jun 4, 2014 7:22am
WTF was dis?
Attached Image (click to enlarge)
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  • #54
  • Jun 4, 2014 7:39am Jun 4, 2014 7:39am
Quoting devin90
WTF was dis? {image}
Yup. I got that too!! And its fucking up all the indicators and moving averages. I wonder if this was somehow a true dip down to $692 because some idiot sold at that price by mistake?
  • #55
  • Jun 4, 2014 8:06am Jun 4, 2014 8:06am
Quoting zaghloul
{quote} Yup. I got that too!! And its fucking up all the indicators and moving averages. I wonder if this was somehow a true dip down to $692 because some idiot sold at that price by mistake?

i had a live chat with them and they said they are investigating ..i had 8 long positions and all got hit with stop loss..and now the chart is messed up
  • #56
  • Jun 4, 2014 8:12am Jun 4, 2014 8:12am
Quoting devin90
{quote} i had a live chat with them and they said they are investigating ..i had 8 long positions and all got hit with stop loss..and now the chart is messed up
Ouch! I'm sure they will refund you. Please post back and let us know what they do with your case. I had a short position on a demo account and it had a tp at 1233.00. Somehow the tp wasn't hit, so I am surprised your positions were stopped out.
  • #57
  • Jun 4, 2014 8:21am Jun 4, 2014 8:21am
Quoting zaghloul
{quote} Ouch! I'm sure they will refund you. Please post back and let us know what they do with your case. I had a short position on a demo account and it had a tp at 1233.00. Somehow the tp wasn't hit, so I am surprised your positions were stopped out.
Yea hopefully they do..ill update here what happens
  • #58
  • Jun 4, 2014 8:29am Jun 4, 2014 8:29am
this spike was only on cTrader. I do not see oit in the MT4.
  • #59
  • Jun 4, 2014 8:37am Jun 4, 2014 8:37am
Quoting devin90
WTF was dis? {image}
icmarkets manipulation nature. when they put spread of 44 pip on a pair that move in 20 pip, not strange to put spread of 550 on pair that move in 100
your problem was not in rollover period, if they do not reimburse your account, all must put a big black flag on them. they had been exposed anyways
  • #60
  • Jun 4, 2014 11:17am Jun 4, 2014 11:17am
good proof of evidence for eurchf. you seem right. I am trading with IC markets almost 6 months. did not face a major issue. on my side I log every thing spread connection latency etc..... it is not because I don't trust but I should have the data in the case of an event. better to be prepared. for me this was same for other brokers I worked with, so does with IC Markets.

I have six months of logged spread history for almost 15 pairs time to time. I do log only when I trade that currency for the week. never see that kind of wild spread. the wildest I noticed was 16 pips for gbpjpy at EOD. Rollover hours or you can call it EOD as we traders should suffer with the high spread or suspended charts by brokers. it is almost the same for all brokers. trading in real is different from what we see. the trades we open & close in reality are open until rollover hour. means when I open a Long & close it in reality system opens a short trade to hedge it & it reflected to our side as closed. but in reality those trades will be floating until EOD as hedged. when you trade with professional platforms you can see closed(hedged) floating trades in the trade tab until EOD. at EOD those are consolidated & get really closed all together with other traders floating. you can call this as a pool.
at that point while those process running LP's widen spreads as for 1st low liquidity 2nd due to closing operations & they take the safe side.

I had experienced exactly same what you experienced on eurchf with eurusd. opened GAP down & my short trade missed TP due to high spread. unfo those happens & we should suffer. I don't say its correct/good but this is the nature of trading & banking.

happy trading


Quoting scalpereagle
{quote} Here we go: eurochf friday close was 1.2216, icmarkets open came 1.2202, other brokers(managed to take a Screenshot of one for comparison) open was 1.2220 and rose, initial gap up 4 pips for others, initial gap down 1.2202!!!!!!!!!! Not just that, 44 pips spread on eurochf!!!!!!it does not move that much for a whole day!!!! Who had a buy order could had closed for profit with others, for loss with icmarkets 1.22466!!!! searched for past charts, couldn't find a saved one other than this attachment, had charts of horrible spreads on eurousd,...
My Best Trade is Next Trade!
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