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My broker closed a trade before hitting my SL

  • #1
  • First Post: Dec 10, 2015 7:51am Dec 10, 2015 7:51am
ICMarkets Are scam!

They closed my position, when price DID NOT HIT MY SL LEVEL !

Proof:

Attached Image (click to enlarge)
Click to Enlarge Name: ICMARKETS SCAM.png Size: 107 KB
  • #2
  • Dec 10, 2015 8:09am Dec 10, 2015 8:09am
Price don't need to hit your SL. It's just wider spreads.
  • #3
  • Dec 10, 2015 8:10am Dec 10, 2015 8:10am
have you written to them???
practising coitus interruptus
  • #4
  • Dec 10, 2015 8:21am Dec 10, 2015 8:21am
Quoting avibe
have you written to them???

They closed my positions very oftern. It wont change anything. You wont win with them. They will say its a liquidity or something, yea right.

The most terryfying case is when you trade in RED news. Ohhhh Gosh... the platform stop working ang hanging on... terrible broker. Really, really scam.
They induce with low spreads but they will kill your positions they will close it when they want.

The ICMarkets are for BLACK LIST !!!

DO NOT OPEN ACCOUNT WITH ICMARKETS !!!

!!! WARNING FOR EVERYONE !!!
  • #5
  • Dec 10, 2015 8:38am Dec 10, 2015 8:38am
This case is good example of what happening when people concentrating on low spreads but not on actual trading conditions.
  • #6
  • Dec 10, 2015 8:45am Dec 10, 2015 8:45am
Quoting Kubiasty
ICMarkets Are scam! They closed my position, when price DID NOT HIT MY SL LEVEL ! Proof: {image}

Had a fare share of my own gripes with IC Markets this year. I sympathise with you, but as one poster has already
pointed out, it looks like the issue here was spread around major GBP news. Despite their fancy marketing, I've noticed spreads seem
to be horribly wide around news at ICM - on a Standard account at least.

The other thing to look out for regarding spread on their Standard account is that it is 1 pip, and distributed 0.5 a pip above the Ask,
and 0.5 pip below the Bid. Not knowing this can create a stop out when it doesn't actually look like the market reached the price, as
happened to me some weeks ago:

Quoting simond2002
EURAUD. Wasn't too convinced by the PA in the M30 flag but took the buy anyway. Once the trade was running at around +60 pips, moved the stop to B/E and went out for a walk. Came back to this tail and a stop out. Bit miffed because the stop was set to 1.58200 and the low of the candle that took it out is 1.58205. That's day trading I guess. {image}
  • #7
  • Dec 10, 2015 9:20am Dec 10, 2015 9:20am
wow, i looks like you got scammed
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #8
  • Dec 10, 2015 9:28am Dec 10, 2015 9:28am
Quoting Kubiasty
ICMarkets Are scam! They closed my position, when price DID NOT HIT MY SL LEVEL ! Proof: {image}
Looks like the spread widened quite a bit. Was this a new event? I have to assume you use a regular account, i would suggest using an ecn...you have to pay commissions but the spread is far more manageable. I use pepperstone ecn and no such problems so far.
Best, Josh
  • #9
  • Dec 10, 2015 9:36am Dec 10, 2015 9:36am
Quoting Kubiasty
ICMarkets Are scam! They closed my position, when price DID NOT HIT MY SL LEVEL ! Proof: {image}
It's normal all of the retail FX brokers increasing their spread significantly when there is a news, I recommend you to use cTrader and change your account type to ECN.
Without an edge MM is useless!
  • #10
  • Dec 10, 2015 3:18pm Dec 10, 2015 3:18pm
Quoting afhacker
{quote} It's normal all of the retail FX brokers increasing their spread significantly when there is a news, I recommend you to use cTrader and change your account type to ECN.
The wisest thing said. I believe there is no use in shouting because they simply don’t care and believe me not many users care either. It’s just the person who suffers will cry for moments…. Life goes on, so better to learn and select broker that you know you can rely upon. Afhacker suggestion is the best solution.
  • #11
  • Edited 10:53pm Dec 10, 2015 4:13pm | Edited 10:53pm
Quoting Kubiasty
ICMarkets Are scam! They closed my position, when price DID NOT HIT MY SL LEVEL ! Proof: {image}
As mentioned above, there's a chance you may have been smashed by the spread and couldn't cover it with your stop loss.
But just to be safe, I think it's time for you to switch to cTrader ECN mate. The reason I suggest this? Because this of shit use to always happen to me with MT4 as well. Even if I had a massive 200 pip stop loss I would get "booted" out of live trades.

But yeah, everyone knows about the MT4 dealer plugins and scams. Even FXCM got busted a few years ago for doing it (see here).
There's also a thread on Forex Factory about the scams as well here.
MT4 is great because it's easy on system resources but let's be honest would you trust trading your hard earned cash with a platform that is known for encouraging and supporting scamming?

Switch over to cTrader. I've been using cTrader to execute trades now for almost 6 months and have NEVER experienced any funny business at all.
It takes some time to get use to the new platform and their phone application needs a bit of work but i promise you will notice better results in your trading. No funny business with cTrader.

PS: When you do start using cTrader, be sure to check out our Forex Factory cTrader suggestions and issues discussion thread here and help make this good platform even better!
  • #12
  • Dec 10, 2015 4:28pm Dec 10, 2015 4:28pm
Quoting Kubiasty
ICMarkets Are scam! They closed my position, when price DID NOT HIT MY SL LEVEL ! Proof: {image}
Easy, tiger...

Learn how to properly use the tools of your 'profession', before spilling your frustration all over the forum.

Start from making the Ask line visible on your charts, then observe how the Bid/Ask gap (i.e. the spread - if you haven't heard the word by now, lol) widens, especially around news time... maybe it'll teach you a thing or two about where to place a stop safely.

Attached Image (click to enlarge)
Click to Enlarge Name: askline.png Size: 51 KB


Good luck next time...
mind over matter
  • #13
  • Dec 10, 2015 5:17pm Dec 10, 2015 5:17pm
It's called stophunt. Also, they are hunting your stops. Also relevant https://www.reddit.com/r/IAmA/commen...est_retail_fx/
"Most of the retail level traders use TA and will layer a lot of their stops in the same area. We'll often run that stop for 1-2 pips, or drastically widen the spread to hit a whole range."
Nuff said
Energy, frequency and vibration.
  • #14
  • Dec 10, 2015 6:43pm Dec 10, 2015 6:43pm
Quoting afhacker
{quote} It's normal all of the retail FX brokers increasing their spread significantly when there is a news, I recommend you to use cTrader and change your account type to ECN.
Who are your ctrader broker?
  • #15
  • Dec 10, 2015 6:48pm Dec 10, 2015 6:48pm
Quoting Dimi.A
{quote} As mentioned above, there's a chance you may have been smashed by the spread and couldn't cover it with your stop loss. But just to be safe, I think it's time for you to switch to cTrader ECN mate. The reason I suggest this? Because this of shit use to always happen to me with MT4 as well. Even if I had a massive 200 pip stop loss I would get "booted" out of live trades. But yeah, everyone knows about the MT4 dealer plugins and scams. Even FXCM got busted a few years ago for doing it (see here)....
Who are your ctrader broker?
  • #16
  • Dec 10, 2015 6:57pm Dec 10, 2015 6:57pm
Quoting entheos
{quote} Who are your ctrader broker?
I'm using Pepperstone mate. I've been with them for a while now and found them very honest, easy for withdrawals and always available for help etc. They also give you a commission free trading bonus for the first two months. Good people.
  • #17
  • Dec 10, 2015 7:02pm Dec 10, 2015 7:02pm
Quoting Dimi.A
{quote} As mentioned above, there's a chance you may have been smashed by the spread and couldn't cover it with your stop loss. But just to be safe, I think it's time for you to switch to cTrader ECN mate. The reason I suggest this? Because this of shit use to always happen to me with MT4 as well. Even if I had a massive 200 pip stop loss I would get "booted" out of live trades. But yeah, everyone knows about the MT4 dealer plugins and scams. Even FXCM got busted a few years ago for doing it (see here)....
ctrader is the best for me too, love the sounds when closing a position like gutling gun (zeb zeb zeb zeb......)
we don't predict, we only ride
  • #18
  • Dec 10, 2015 7:04pm Dec 10, 2015 7:04pm
This is FxOpen , I contacted them and they said the price met the ask and bid. That's it

Then I got angry and lost another revenge hundred dollars

Then I got forced to chill out ,

End of story


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Attached Image
  • #19
  • Dec 10, 2015 7:10pm Dec 10, 2015 7:10pm
meta is just toy.
russian company metaquotes was established to attract people and for scams.
http://www.forexfactory.com/showthread.php?t=565124
  • #20
  • Dec 10, 2015 7:43pm Dec 10, 2015 7:43pm
Quoting cakrajaya
{quote} ctrader is the best for me too, love the sounds when closing a position like gutling gun (zeb zeb zeb zeb......)
Hahahahahha zeb zeb zeb
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