IC Markets margin call

You talking about INSTAFOREX... where they are regulated? Nowhere!!! Fraud

Thank you Xtrader101, I just followed up in this thread.

Support (IC Markets)
Jan 25, 16:34
Hi Sund,
I can confirm no adjustments have been made on your account XXXXXX, as all executed prices have been verified correct by our liquidity providers. Let us know if you have any further questions.
Kind Regards,
Sung Choi | Support Team Leader | IC Markets

Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. International Capital Markets Pty Ltd. ACN 123 289 109. AFSL No. 335692.
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Louise Clark (Support Team) (IC Markets)
Jan 23, 23:09
HI Sund

I could not find the adjustment that was apparently made to this account.
Please check
Thanks
Kind Regards,
Louise Clark | Support | IC Markets

Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. International Capital Markets Pty Ltd. ACN 123 289 109. AFSL No. 335692.
Notice to recipient
The information in this email and any attachments may contain confidential and/or privileged information. It is intended solely for the addressee(s). If you are not the intended addressee, please notify the sender immediately (and destroy this email and any attachments from all computers). Any review, copying; redistribution in whole or in parts of this email or its attachments or any other action in reliance to this email or its attachments is strictly prohibited.
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Not even my name they can write, probably they didnt even bother to look to my account. I will press charge on the relevant institutions. SCAMMERS and THIEFS!

This was my answer:


Not even my name you can spell right, perhaps you answered yourself the email? Did you even bothered to check anything?

On your first email you said adjustments were made on my account and now you tell me that no adjustments were made. This is a serious joke with very serious consequences.

Your platform on Ctrader does not have the same spikes as on MT4. I was eliminated with a 800 pip spike that did no exist (bloomberg, reuters, swiss statement and all other brokers had a low on 0.85) and you say your liquidity providers confirmed the trade was executed on right prices, are you out of your mind or it makes part of the scam?

I will press charges in relevant institutions.

http://www.smh.com.au/business/marke...#ixzz3Py4OV9EE

Great article. Very true. Thanks for sharing

Glad IC Markets' and/or their liquidity "providers"' shady practices are being exposed for all to see. Hopefully it will persuade them to do the right thing.

Tim_isoara how much do they pay you? they manipulate prices and its a robbery.

I presented my charges on FOS and ASIC already.

Not even the 200 euros remaining on my account (after losing more then 3k) they let me cashout, bunch of thieves.

Just ignore Tim_isoara. He's a troll just coming here to make trouble. Why is IC Markets not allowing you to withdraw the remaining 200 Euro? It's your money. You don't have a negative balance.

Okay so I finally got to talk to their client services managers. And while he nodded to my case all the way as we spoke, he followed up today with a NO ADJUSTMENT basically enforcing the margin call on me at the outrageous EURCHF quote of 0.7656 which they knew and admitted was erroneous, but which they now claim is legitimate! Where will IC Markets' deceptive mascarade culminate?

I sent one last recourse email for them to make good and reinstate my trade. I have much more evidence of their deceptive practices in writing from them. I actually busted them in the middle of it earlier and they had no other way but admit that I was right. I will hold it for now but in case they don't rise up to meet their responsibilities, I will be sure to write a dedicated thread with all the documented evidence (reports, tickets, transcripts etc...) about what seems to become an outrageous regulator's case.

Just stay tuned. You won't be disappointed.

You are on the same boat as me. My Eur Chf position was also closed on 0.77, they assumed the errouneous prices but said I had no adjustments. Every email I received from them had mistakes, last one stated I had pending adjustments, this is unreal. SCAM.

Here are the last emails ive received:


Support (IC Markets)
Jan 27, 15:28
Hi XXXXXX,
It looks like there was a typo in my previous email. There are NO adjustments pending on your account.
Let me know in case of further questions.
Kind Regards,
Sung Choi | Support Team Leader | IC Markets
https://icmarkets.zendesk.com/attach...8_17-47-50.png
Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. International Capital Markets Pty Ltd. ACN 123 289 109. AFSL No. 335692.
Notice to recipient
The information in this email and any attachments may contain confidential and/or privileged information. It is intended solely for the addressee(s). If you are not the intended addressee, please notify the sender immediately (and destroy this email and any attachments from all computers). Any review, copying; redistribution in whole or in parts of this email or its attachments or any other action in reliance to this email or its attachments is strictly prohibited.
2014 International Capital Markets Pty Ltd | All rights reserved.


https://bay182.mail.live.com/Handler...er.png%26r%3dg


Jan 26, 22:13
I dont understand. On your first email you said no adjustments were made and now you said adjustments are pending? In which situation am I?




https://icmarkets.zendesk.com/system...9/ICM_logo.jpg

Support (IC Markets)
Jan 26, 14:12
Hi XXXXXX,
My sincere apologies for an miscommunications. cTrader does not contain spikes, as the spikes happened as a result of Barclay's erroneous pricing when MT4 failed over to Currenex. As cTrader only uses Integral, there was no spike.
Once again I can confirm that there are adjustments pending on your account and all traded prices have been verified correct by our liquidity providers. If you have any more questions, please let me know.
Kind Regards,
Sung Choi | Support Team Leader | IC Markets

In other words they are telling us that there was a mistake but they prefer to steal our hard earned Money.

http://www.forexfactory.com/showthre...84#post8028784

Who? Forexia?

You have now prove for fraud. Or fraud is just in your head?

This morning after a yesterday mail in which the say my adjustment price was OK and after they ask me to recover my negative balance, they transfer found from my other account to this negative one... WITHOUT ANY COMUNICATION
Really really annoying... Pay attention to ICMARKETS
Regards

They are probably either pressured by their liquidity "providers" to accept the price or are in league with them. Something for ASIC to find out. This SNB event is not just a stress test for brokers; this is becoming a stress test for financial regulators around the world due to the unscrupulous action of those liquidity stoppers and/or the brokers.

Yes I agree, it is time that the Forex Market was subject to greater regulatory scrutiny.

All most of us ask is a honest system, and you can quantify your risk. Currently that is not the case.

I absolutely agree. And hopefully the greater regulatory scrutiny is on THEM, NOT on us, retail traders. LOL God knows how many regulations that those regulators have came up with that targets us?

In the US, the CFTC/NFA, the regulatory body that really regulates the Futures industry has:

1) capped the leverage TWICE, first to 100:1, and several years ago to 50:1

2) banned hedging

3) Insisted on FIFO

and most recently,

4) disallowed funding of accounts with credit cards. LOL This one gives me the most laugh

In the meantime, those liquidity "providers" are free to stop providing quotes to create a "black hole" of zero liquidity in the market and then create a price out of thin air that is 7K+ pips worse than the published market price by EBS. And so far they walk away scot-free while enjoying the money that they robbed from us. So at least I hope ASIC will be able to do something right for us retail traders and set an example for all regulators around the world to follow.

Again. Your informations, isn't correct.

In USA leverage is 50:1 but not to all pair.
On SEK, NOK, AUD,JPY, leverage is 33:1
On CHF and and some exotic pair leverage is 20:1
On Mexican Peso leverage is 16:1

Everyone,

I had a constructive conversation with Angus Walker last night and I wanted to make clear with everyone that IC Markets finally DID MAKE AN ADJUSTMENT to my account in the end. I understand that Angus has pretty much been caught between angry traders and IC Markets management strategic choices both in terms of business (constant quote streaming) and service (compensating clients). So out of respect for Angus who has shouldered most of the mess, I will not specify the exact nature of the adjustment so as not to create a vaccuum of claims, especially as everyone's cases are widely different from one another.

But first, I would just like to underline his willingness to help and his straightforward talk which was refreshing after these two weeks of confusion. Second, the phone call was helpful in getting a better grasp of the ramifications of what happened throughout the responsibility chain. In essence, IC Markets made a business choice. A choice which obviously relies on a dilemma for which I do have an opinion but for which there is no right answer. That choice is that of not shuting down IT systems and not stopping traders from placing trades during high volatility events. The truth is that many traders want to keep being able to trade at all times and may have equally blamed IC Markets should they have not provided quotes (even outlier LP bids) during the SNB event. There are two schools. I rather belong to the "allow fair pricing or shut systems down" one and I respectfully disagree with their business choice which can lead to absurd extremes (hence my claim). But again, it's a business model that does suit many other traders and having it clearly outlined is as honorable as well as worth considering in matching their own trading priorities with those of IC Markets.

For this reason, unlike other brokers, this choice makes their quote feed more vulnerable to spread spikes and rogue LP quotes. On the other hand, and unlike with other brokers, you will be allowed to trade during news events and you will also receive tighters spreads during regular market hours. It is a trade-off. Again, there is no right answer. It is merely a matter of what kind of trading systems your profitability depends on.

So all in all, and despite the communication which was admittedly very poor over the last two weeks and could lead to assumptions, I can testify after talking to Angus that IC Markets is really trying hard to meet their client expectations while providing solid trading advantages versus competitors, because let's face it, we all came to IC Markets in the first place because of their tight ECN spreads and no second-look execution. I think that everyone now will be better off knowing what to expect from their business model and I wanted to make sure that Angus takes credit for taking care of my case.

Best regards,
Princeton