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  • #21
  • Jan 21, 2015 2:30pm Jan 21, 2015 2:30pm
Quoting PedroGuedes
They dont answer my inquiries also. Live chat is totally useless and say will take a bit more time to amend accounts. Eur/Chf on IC markets platform was 0.7455, is this value correct? All other platforms I checked had a low on 0.85 and others even higher!
The actual low is close to 0.8517 as shown by Bloomberg BGN. I could obtain a snapshot from a terminal. This value is well documented across other data providers such as Reuters EBS, other brokers, specialized websites and the financial press.

The low at 0.7455 did not happen anywhere else but on IC Markets servers.
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  • #22
  • Jan 22, 2015 8:28am Jan 22, 2015 8:28am
Look at Eur/Nok on IC platform, compare to other brokers, and tell me your thoughts.
  • #23
  • Jan 22, 2015 8:48am Jan 22, 2015 8:48am
PedroGuedes

I use to think IC Markets was one of the good brokers around, I am now having my doubts.

EURNOK - IC Markets Chart - Low of the day = 8.39613


EURNOK - IKON Chart - Low of the day = 8.73237



EURNOK - IG Markets Chart - Low of the day = 8.73371

IC Markets - I am speechless!
  • #24
  • Jan 22, 2015 11:59am Jan 22, 2015 11:59am
IC Markets Wants Your Business - Latest News!

Not much of a discount because you get this rebate if you go through an IB

Dear Trader,

In light of the extreme volatility caused due to the unexpected announcement made by the Swiss National Bank (SNB) that it would remove the cap on the Swiss Franc’s value against the Euro, IC Markets would like to express our condolences to all traders effected.

We ourselves were surprised by the volatility in the market after the announcement, however fortunately in December, 2014 we reduced the leverage offered on this pair to clients. This pre-emptive risk management approach meant that we were able to minimise the effect of negative client equity and protect client balances.

As a gesture of good faith to those affected by this unprecedented event we are offering a commission discount to all new client that open and fund a new live true ECN account before the 31st of January, 2015. You will receive a commission discount from the ordinary commission of $7.00 per lot round turn to $5.50 per lot round turn, this is $1.50 discount for the life of your account.

To take advantage of this offer simply follow the steps below

 

  1. Open a new Live ECN account by clicking link below.
  2. Send copy of a statement from your current broker to [color=#39B01E][email protected][/color]

  • #25
  • Jan 22, 2015 2:39pm Jan 22, 2015 2:39pm
Wonderful. I am one of these clients that got slammed by wrongful margin calls caused by IC Markets' CHF spreads reaching thousands of pips - literally. We got left hanging with no refund or any answer to our queries for a whole week, because apparently they are "busy" fixing the mess.

But guess what? They found the time to try and fool everyone by playing the compassionate side, offering cheap marketing, and all the while GIVING THE SHAFT to their own clients. This is simply over the top now. I am truly disgusted.
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  • #26
  • Jan 22, 2015 4:16pm Jan 22, 2015 4:16pm
Quoting Princeton
Wonderful. I am one of these clients that got slammed by wrongful margin calls caused by IC Markets' CHF spreads reaching thousands of pips - literally. We got left hanging with no refund or any answer to our queries for a whole week, because apparently they are "busy" fixing the mess. But guess what? They found the time to try and fool everyone by playing the compassionate side, offering cheap marketing, and all the while GIVING THE SHAFT to their own clients. This is simply over the top now. I am truly disgusted. {image}
And it's done in such poor taste too. "Condolences?" What Condolences? Nobody died here. So tacky! People just got caught on the wrong side of the market; it's all part of trading, sucks yes but still at least people are owed fair prices for their trades.

I would seriously consider talking to ASIC about their account adjustment process.
Make your losses in demo. Earn your profits live.
  • #27
  • Jan 22, 2015 4:27pm Jan 22, 2015 4:27pm
I agree it just not good enough. Up untill now IC Markets have had a reasonably good name. My experience of this last week gives me the impression that they have a great PR department and a lousy customer relations department.

It appears to me that IC Markets is trying to pull the wool over the eyes of its customers, buy pretending to do something while doing nothing.
  • #28
  • Jan 22, 2015 5:16pm Jan 22, 2015 5:16pm
So there was no adjustment to your trade?

They just said "oh yah, sorry bout that" here is a little gift of lower commissions, please don't hate me!

I still haven't heard anything from them.
  • #29
  • Jan 22, 2015 5:57pm Jan 22, 2015 5:57pm
Quoting mess7777
here is a little gift of lower commissions, please don't hate me!
Which is NOT really anything special; as someone points out, you can get the same deal if you sign up through an IB. And through an IB, you can even get discounts for their cTrader commissions which more expensive but it's all worth it. cTrader is a really good trading platform.
Make your losses in demo. Earn your profits live.
  • #30
  • Jan 22, 2015 6:44pm Jan 22, 2015 6:44pm
Good night,

How long will they take to give us answers?? Its useless to send emails, they dont respond. Feeling sick with all this situation.
  • #31
  • Jan 22, 2015 7:08pm Jan 22, 2015 7:08pm
Quoting HungryHound
I agree it just not good enough. Up untill now IC Markets have had a reasonably good name. My experience of this last week gives me the impression that they have a great PR department and a lousy customer relations department. It appears to me that IC Markets is trying to pull the wool over the eyes of its customers, buy pretending to do something while doing nothing.
Their price feeds continuously drop out and for a long time now massive discrepancies have been present in some of the more exotic pairs. They have been pulling the wool over everyone's eyes with their so called (ECN FEED!!).
  • #32
  • Jan 22, 2015 7:13pm Jan 22, 2015 7:13pm
Quoting HungryHound
I agree it just not good enough. Up untill now IC Markets have had a reasonably good name. My experience of this last week gives me the impression that they have a great PR department and a lousy customer relations department. It appears to me that IC Markets is trying to pull the wool over the eyes of its customers, buy pretending to do something while doing nothing.
I know I don't get it either. They don't seem to be too bad. Good spread and not too much slippages and pretty fast executions. I don't know why they choose to be such an a$$ in giving bad prices for people's already losing trades. You never know it might be their liquidity "providers" who's dumping all those crap prices on them and they don't have a choice but to fill you with those crap. Take a look that the article below, Barclays Bank filled their customers at prices that's 7.8K+ PIPs away from the EBS prices. So you never know if this is the kind of s*** IC Markets got. On their ECN side of business, they are supposed to just pass your orders to those liquidity f***ers that it's them who fill your orders and take the other side of your trade. they have and have them filled.

In an extreme example (that affected at least two brokers), Barclays had filled EUR/CHF sell orders at 0.065 (no extra zero) while at the same time EBS was quoting its session low of 0.85. Technology providers that Forex Magnates spoke to corroborated with similar examples of their clients. Firms did state that Barclays and other banks ultimately did provide some price improvement, but often to levels below that of EBS’s low of the day.

http://forexmagnates.com/banks-bucke...nc-volatility/

There was no active quotes or trading during that "black hole" period so the liquidity stoppers are coming back and just filling the orders are whatever price they want. And that's why I have been saying something needs to be done about s***. This is not about being on the right side or wrong side; this is pure price manipulation just to get more money. Will be worthwhile to forward this to ASIC. The thing is IC Markets won't talk about their liquidity "providers" and what they did with/to IC Markets but if you complain to ASIC and when ASIC launches formal investigation, IF ASIC is competent, then truth will come out and you might be able to know exactly what went on.
Make your losses in demo. Earn your profits live.
  • #33
  • Jan 22, 2015 7:14pm Jan 22, 2015 7:14pm
Quoting PedroGuedes
Good night, How long will they take to give us answers?? Its useless to send emails, they dont respond. Feeling sick with all this situation.
I find chat is more effective. Give them a deadline and tell them that if nothing is resolved to your satisfaction by that time, you will launch action against them. Meanwhile gather all the price information, all your statements, transaction history and etc. and prepare to talk to ASIC. And I would also starting searching for a lawyer.
Make your losses in demo. Earn your profits live.
  • #34
  • Jan 22, 2015 7:52pm Jan 22, 2015 7:52pm
A lawyer?? I just lost enough Money, if I put myself in a court process at this time, I will be bankrupt.
  • #35
  • Jan 22, 2015 8:10pm Jan 22, 2015 8:10pm
Quoting PedroGuedes
Good night, How long will they take to give us answers?? Its useless to send emails, they dont respond. Feeling sick with all this situation.
Yes I felt the same way yesterday when I got a response that the were not going to do anything.
Today I am just bloody annoyed and now I have had confirmation that my trade was screwed by IC Markets, I am more determined than ever to bring them to task.
  • #36
  • Jan 22, 2015 10:00pm Jan 22, 2015 10:00pm
Why don't you contact the journalist from the ABC who gives his details in the "CHF move as a broker "Stress Test" - Which tried to honor SL's? thread, post #163? Perhaps the ABC would be interested in reporting on what is happening with your situations with IC Markets. The bad publicity which would be generated from this could be enough to force IC Markets to do the right thing.
  • #37
  • Jan 22, 2015 10:30pm Jan 22, 2015 10:30pm
Quoting Banksia
Why don't you contact the journalist from the ABC who gives his details in the "CHF move as a broker "Stress Test" - Which tried to honor SL's? thread, post #163? Perhaps the ABC would be interested in reporting on what is happening with your situations with IC Markets. The bad publicity which would be generated from this could be enough to force IC Markets to do the right thing.
Yes well that is a good idea. For the time being I will keep that up my sleeve, and give them another chance to do the right thing.
  • #38
  • Edited 12:16am Jan 23, 2015 12:02am | Edited 12:16am
At SNB time my account balance is 6825.27 USD and free margin is about 7700 USD.
My account only have 0.1 Standard Lot of USD/CHF, but because IC Markets MT4 platform stream erroneous prices and closed my USD/CHF at prices 0.25473, so my account had to blow and all profit orders had to be closed.
Yesterday, IC Markets adjusted USD/CHF close price at 0.67219. The result is my account lost 3500 USD.
I am in adamant refusal, because:
1. I checked all the brokers and their platforms and Bloomberg Professional Service, the price of USD/CHF had never reached at 0.67219. Meanwhile, IC own cTrader had the lowest price at 0.84 and never reached at 0.67219.
2. In other words, assume 0.67219 price to be correct, the free margin of my account was strong enough to ensure, but IC closed all my orders which lost the best profits. I lost chance to get more profits about 2000 USD for my other orders.

All in all, my account could have been about 8000 USD, but now it's only 3990 USD.

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  • #39
  • Jan 23, 2015 5:54am Jan 23, 2015 5:54am
Hi XXXXXXXX,
Thank you for submitting your trade query regarding your CHF positions. As you are aware, the forex markets experienced extreme volatility last week following the Swiss National Bank’s announcement that it would be removing the cap on the Swiss Franc’s value against the Euro.
As IC Markets operates under a Direct Market Access model, all client trades regardless of size are filled directly by our liquidity providers and subsequently any CHF positions executed on erroneous prices during the announcement must be adjusted individually both by our liquidity providers and IC Markets on the underlying position/s.
There were certain periods where erroneous prices were being quoted by some of our liquidity providers and those prices will be adjusted according to the amended rates provided by our liquidity providers. IC Markets has made adjustments to your CHF trades on your account XXXXXX according to rates provided by our liquidity providers, and the equity balance is as stated on your trading platform.
Kind Regards,
Sung Choi | Support Team Leader | IC Markets




No adjustments were made, they are thiefs....
  • #40
  • Jan 23, 2015 5:57am Jan 23, 2015 5:57am
Yup, this is something i dont understand even until now. There is price variance between their different platforms since lastime, and I ever questioned them about it. They told me MT4 is usually "slower" to update generally and Ctrader should be the more "correct price". I did notice this problem even during NO NEWS time

When I reported, they told me nobody else has this issue etc etc. So apparently, others had it too and they been lying to me eh? Very dishonest.


Quoting bajie
At SNB time my account balance is 6825.27 USD and free margin is about 7700 USD. My account only have 0.1 Standard Lot of USD/CHF, but because IC Markets MT4 platform stream erroneous prices and closed my USD/CHF at prices 0.25473, so my account had to blow and all profit orders had to be closed. Yesterday, IC Markets adjusted USD/CHF close price at 0.67219. The result is my account lost 3500 USD. I am in adamant refusal, because: 1. I checked all the brokers and their platforms and Bloomberg Professional Service, the price of USD/CHF had never...
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