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  • #821
  • Jan 19, 2015 3:30am Jan 19, 2015 3:30am
Quoting ahmerkhan
Happy New Year to all of you guys. Get 21% Real Time discounts on IC Markets
Could u please give a detailed explination to this offer. So how it works?
I am trading with IC from the beginning of this year.The comission per lot traded is 7 USD. No doubt It will be super to pay less comission per trade. But, are there any disadventages which can affect my trading?

Thanks for your answer in advance!
Success is nothing more than a few simple disciplines, practiced every day.
  • #822
  • Edited 8:35am Jan 19, 2015 8:24am | Edited 8:35am
Quoting Machinator
{quote} Could u please give a detailed explination to this offer. So how it works? I am trading with IC from the beginning of this year.The comission per lot traded is 7 USD. No doubt It will be super to pay less comission per trade. But, are there any disadventages which can affect my trading? Thanks for your answer in advance!
We are in an agreement with IC Markets to provide 1.5$ commission discount for 1.00 volume lot rt for ECN Accounts which reduces trading fee to $5.5 per rt lot.
Clients under our IB discount always pay 21% less commission fee for any lot size under ECN Accounts. There is no any disadvantage of this offer and IC Markets never change trading conditions in any case.
Existing IC Markets clients can also get this discount anytime
Just send your Live trading account number to [email protected] and ask them to switch your account under IB# 1695 (IC Markets FX) and also cc that email to [email protected] so i will try to speed up the process.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #823
  • Jan 19, 2015 8:43am Jan 19, 2015 8:43am
Hi,

Did anyone else's CADCHF D1 chart print this spike?

Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.png Size: 36 KB


Edit: For clarity, this is an IC Markets chart
  • #824
  • Jan 19, 2015 8:49am Jan 19, 2015 8:49am
Quoting simond2002
Hi, Did anyone else's CADCHF D1 chart print this spike? {image}
Yes, Its on my charts too.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #825
  • Jan 19, 2015 8:58am Jan 19, 2015 8:58am
Quoting ahmerkhan
{quote} Yes, Its on my charts too.
Hi ahmerkhan,

Thanks for your quick response.

I had a chat with a few trader friends who are using different brokers for live accounts whose feeds don't show the spike.
We came to the conclusion (although conclusions may often be incorrect) that what we see on this particular ICM chart can
be considered a "broker spike".

I was the under impression that with so-called "True" ECN brokers these kind of spikes would/should be a thing of the past.
I base this impression on the idea that true ECN brokers don't hold any vested interest on the retail side and only serve to
match bids/asks in the market and take a commission.

Maybe your or someone else can help clarify?

Thanks
  • #826
  • Jan 19, 2015 9:30am Jan 19, 2015 9:30am
Quoting simond2002
{quote} Hi ahmerkhan, Thanks for your quick response. I had a chat with a few trader friends who are using different brokers for live accounts whose feeds don't show the spike. We came to the conclusion (although conclusions may often be incorrect) that what we see on this particular ICM chart can be considered a "broker spike". I was the under impression that with so-called "True" ECN brokers these kind of spikes would/should be a thing of the past. I base this impression on the idea that true ECN brokers don't hold any vested interest on the retail...
I will investigate this matter with IC Markets as i have no clue about that particular pair. The broker itself does not handle the quotes as all data comes from their LPs.

I have just seen the same spike on AxiTrader charts.
http://i.imgur.com/4b2Cqkr.png
Real Time Discounts for IC Markets. Partner ID = 1695
  • #827
  • Jan 19, 2015 9:48am Jan 19, 2015 9:48am
Quoting ahmerkhan
{quote} I will investigate this matter with IC Markets as i have no clue about that particular pair. The broker itself does not handle the quotes as all data comes from their LPs. I have just seen the same spike on AxiTrader charts. {image}
Thanks,

Just had a rummage around FXStreet and grabbed some screenshots.

LMAX does have the spike. The other three from this sample; GFT, FXCM, and Saxo don't

Attached Image (click to enlarge)
Click to Enlarge Name: Lmax.png Size: 50 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gft.png Size: 53 KB


Attached Image (click to enlarge)
Click to Enlarge Name: fxcm.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: saxo.png Size: 50 KB
  • #828
  • Edited 12:03pm Jan 19, 2015 11:32am | Edited 12:03pm
With regards to the CADCHF spike, I'd assume it was due to an LP that LMAX, Axitrader and IC Markets all utilize. I believe that IC Markets is in the process of investigating and unwinding erroneous trades due to the Franc's unpegging at the moment; if you feel you've been adversely affected by an aberrant/erroneous spike or price, I definitely recommend getting in touch with IC Markets support ASAP: [email protected]


Quoting Machinator
{quote} Could u please give a detailed explination to this offer. So how it works? I am trading with IC from the beginning of this year.The comission per lot traded is 7 USD. No doubt It will be super to pay less comission per trade. But, are there any disadventages which can affect my trading? Thanks for your answer in advance!
There is no disadvantage; the difference between the pre and post discount commission afforded by IBs like me and Ahmer is basically considered a marketing and customer service expense by IC Markets considering that we provide both.

I also offer $1.50 USD / RTL commission discounts for MT4 and $0.61 USD / RTL commission discounts for cTrader (or equivalent relative to your currency). I can be reached via e-mail at [email protected] or at MyFXBook here: http://www.myfxbook.com/members/Surrealistik if you would like further details.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • #829
  • Jan 20, 2015 5:53am Jan 20, 2015 5:53am
Dear Trader,

The unexpected announcement by the Swiss National Bank (SNB) that it would withdraw the cap on the Swiss Franc’s value against the Euro took many in the industry by surprise and resulted in extreme volatility in the forex markets.

We were surprised by the extreme volatility after the announcement, however fortunately in December, 2014 we assessed the risks associated with this pair and reduced the leverage offered to clients. As a result of this pre-emptive measure we were able to minimise the impact of negative client equity and provide additional protection for our clients. Despite the significant volatility during the announcement we were able to maintain pricing during periods of low liquidity.

The new paradigm in the forex market could be characterized by periods of low volatility followed by extreme episodic volatility as we saw with the Russian Rouble in December and now the Swiss Franc last week. Two such events happening within a month of each other should be considered as a sign of the times. We are expecting more volatility like this although not of the same magnitude throughout 2015. We would like to assure you that we will continue to focus on pre-emptive risk management so that our clients remain unaffected by future volatility.

Our financial position remains strong and above our regulatory requirements with trading unaffected. As always client funds are held in segregated accounts with leading Australian banks NAB and Westpac.

If you have any questions or require any assistance, please contact one of our support team members via Live Chat, email: [email protected], or phone +61 (0)2 8014 4280.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #830
  • Jan 20, 2015 1:25pm Jan 20, 2015 1:25pm
One of your statements is deceptive, either the one you sent to your customers or the one above. Individual traders received the following :



Today at 11:30 platform time (GMT+2) the Swiss National Bank removed the floor at 1.20 on the EURCHF currency pair which caused extreme volatility in all CHF pairs and the market in general. Over this period we saw spreads widen significantly which in turn caused the activation of price filters to stop pricing. Once pricing stopped on our main Integral price feed our backup price feed from Currenex was allowed to price. It was at this time that some liquidity providers were able to stream erroneous prices to ICMarkets and execute client trades at prices they shouldn’t have.

Today IC Markets will be amending the prices on trades done across the CHF pairs with our liquidity providers. Once we have had these trades amended we will begin the process of adjusting clients accounts. This may include but not be limited to the actions below:
• Reinstatement of positions where appropriate and possible
• Amendment of open/close prices on trades
• Assessment of client portfolios closed due to insufficient margin
• Adjusting client cash balances to reflect the actions above
IC Markets staff will be working as fast as possible to complete the above and restore trading accounts to their correct state. We appreciate your patience as we complete this.

____________________________

However, above you proudly claim "Despite the significant volatility during the announcement we were able to maintain pricing during periods of low liquidity."

I have placed the conflicting statements in bold in case it isn't clear. Who is being misled, existing customers or the general public?
  • #831
  • Jan 20, 2015 2:02pm Jan 20, 2015 2:02pm
There are many good things about IC Markets, but their ticketing system is not one. They are not keeping clients up-to-date on repairing the mess that fake pricing caused during the CHF unpeging. I was long on the CHF and still got wiped out with a false retracement.
  • #832
  • Jan 20, 2015 2:05pm Jan 20, 2015 2:05pm
Quoting mess7777
One of your statements is deceptive, either the one you sent to your customers or the one above. Individual traders received the following : Today at 11:30 platform time (GMT+2) the Swiss National Bank removed the floor at 1.20 on the EURCHF currency pair which caused extreme volatility in all CHF pairs and the market in general. Over this period we saw spreads widen significantly which in turn caused the activation of price filters to stop pricing. Once pricing stopped on our main Integral price feed our backup price feed from Currenex was allowed...
Both of the news were officially published by IC Markets at different times. The last line you quoted in Bold was referring to trading platforms that were serving traders during low liquidity. Although CHF pairs were effected badly but the system was still serving non CHF traders and non of their trades were effected. Many of the other brokers platforms stuck and were not be able to quote prices because the whole system collapsed.

Now, For those who have been hurt by CHF trades should keep in touch with IC Markets and have some patience, They are trying their best to find out the best possible way to get things under control.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #833
  • Jan 21, 2015 6:05am Jan 21, 2015 6:05am
[quote=ahmerkhan;8009768]{quote} Now, For those who have been hurt by CHF trades should keep in touch with IC Markets and have some patience, They are trying their best to find out the best possible way to get things under control.[/quote

I have just received a form letter dismissing my claim ( a buy stop with a TP on the chfspd) even though is was activated above the TP and there is no data to back up the trade. To make matters worse they claim it retraced and wiped out my account, and there is no data to support that either.

The form letter appears to me that they only paid lip service to my claim and did not investigate it at all.

After 8 months of trading with IC Markets and generating thousands of dollars in commissions I am rather disillusioned with their customer service. Its unfortunate that when a obvious problem occurs in the system that one is unable to work things out without resorting to taking cases to regulators.

I hope other have their problems dealt with in a more enlightened manner, and we are not just being given a lot of flannel in their press releases.
  • #834
  • Jan 21, 2015 6:17am Jan 21, 2015 6:17am
Quoting HungryHound
Quoting ahmerkhan
{quote} Now, For those who have been hurt by CHF trades should keep in touch with IC Markets and have some patience, They are trying their best to find out the best possible way to get things under control.[/quote I have just received a form letter dismissing my claim ( a buy stop with a TP on the chfspd) even though is was activated above the TP and there is no data to back up the trade. To make matters worse they claim it retraced and wiped out my account, and there is no data to support that either. The form letter appears
...
welcome to the IC world, I paid around 4k dollars as a commission altogether in 1 year, and got what? wiped account is silly news events which slipped my trade with 15 pips. too much for a trader.
Don't speculate trade with surety.
  • #835
  • Jan 21, 2015 9:07am Jan 21, 2015 9:07am
Is it invitation for not to trade till 26 of January?!)))))
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-21 18_58_03-.jpg Size: 51 KB
Success is nothing more than a few simple disciplines, practiced every day.
  • #836
  • Jan 21, 2015 11:48am Jan 21, 2015 11:48am
I would like to understand what this really means? Unfortunately I lost quite a bit of money since last week's events. My margin level is floating around 130% have .90 lots of shorts on xau/usd which is uselessly hedged with a .90 long around 1300$ levels. (shorts are varied from 1175 - I know - to 1225)

I am worried that my account might be closed due this announcement.



Quoting Machinator
Is it invitation for not to trade till 26 of January?!))))) {image}
  • #837
  • Jan 21, 2015 12:16pm Jan 21, 2015 12:16pm
Quoting Outsider78
I am worried that my account might be closed due this announcement. {quote}
Then close your positions.
  • #838
  • Jan 21, 2015 12:24pm Jan 21, 2015 12:24pm
Quoting HungryHound
Quoting ahmerkhan
{quote} Now, For those who have been hurt by CHF trades should keep in touch with IC Markets and have some patience, They are trying their best to find out the best possible way to get things under control.[/quote I have just received a form letter dismissing my claim ( a buy stop with a TP on the chfspd) even though is was activated above the TP and there is no data to back up the trade. To make matters worse they claim it retraced and wiped out my account, and there is no data to support that either. The form letter appears
...

That's awful.

How can they justify that their LP's provided an offer for you to buy above your TP AND still were not able to provide a bid to flip the position above that same TP instantaneously? The worst case scenario is that you should be your own counterparty above your TP (you buy and sell your own position). It's too easy for them to dismiss the claim like this, especially when there is no data to back up the trade. It makes no sense.
  • #839
  • Jan 21, 2015 2:00pm Jan 21, 2015 2:00pm
It appears from information obtained from this thread I started. http://www.forexfactory.com/showthre...20#post8013020

That they are in fact acting as a counter party, or a the very least absorbing the trade before passing it on.
So I they are able to do with it as they like.
Well that's my take on it anyway.
  • #840
  • Jan 21, 2015 11:29pm Jan 21, 2015 11:29pm
Quoting Outsider78
I would like to understand what this really means? Unfortunately I lost quite a bit of money since last week's events. My margin level is floating around 130% have .90 lots of shorts on xau/usd which is uselessly hedged with a .90 long around 1300$ levels. (shorts are varied from 1175 - I know - to 1225) I am worried that my account might be closed due this announcement. {quote}
I am sorry about your account....
Success is nothing more than a few simple disciplines, practiced every day.
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