IC Markets

Those obnoxious 5 stars rating for ICBucket must be their own people or people high on something because this is the WORST broker I ever have the unfortunate experience to have live accounts with in more than 6 years of trading the forex market. Even Russian broker is more honest than ICBucketshop. 2015-05-06 2 Stars @Stan.... I started off with 3 ASIC regulated brokers and I too once-upon-a-time thought this broker was the better of the 3...BUT once they gained my trust in them (honeymoon over) strange and perplexing things start happening on my trading accounts with them culminating in that sudden stop-out incident. Be very careful and cautious with this broker and highlight any abnormalities that you find in your trading account as they have a tendency to lay blame on client's side or even admit it's their fault but offer no or very little compensation.....as @Mounir has already found out. I do not normally go after broker, but it really upset me that ICMarkets is operating freely just below ASIC regulatory rules and regulations which is very difficult to prove and to prosecute. 2015-04-13 2 Stars @June Green....yes, ICMarkets has a very bad habit in blaming their clients on abnormalities happening on their trading platform...to them, the fault is never on their side but from their client's side. Please post your problem at the thread dedicated to ICMarkets (link at top of this page) so other Traders can read your issue(s) with ICMarkets too. 2015-04-03 2 Stars I have been a client for over a year and used to trust this broker. However, I had a recent account stop-out (one of at least 6 of them with this broker) which I find very strange and unusual. All positions were hedged on the USD/CAD and I was monitoring the account which had over 450% margin level. All of a sudden, and completely without any margin-call and forced closure of highest losing positions, the account went blank and show a negative balance of -USD30.27 I contacted Support and three different personnel gave me different reasons for the account stop-out and, of course gave me the obvious reasons for the stop-out which I informed I am very familiar after having numerous stop-outs with more than 10 different brokers through over 4 years in trading the forex market. One logical explanation on why that account was stop-out in such a strange & unusual manner is that the leverage was readjusted which will trigger instant account stop-out without the usual margin-call warning.....or there is a glitch in the blocker's server. Since late 2014, I have started experiencing other abnormalities on this broker's trading platform, but these experiences are very difficult to define and explain. From being a well satisfied client, I am now a very unhappy and dissatisfied client of this broker.

I‰Ûªm submitting a one star review for the broker I didn‰Ûªt even trade with (at least live). How is that possible? Here is my story. I decided to open live account with IC Markets after reading all the relevant info on their website, including funding options. As I was going to fund my account by Visa, I was quite satisfied after reading this: ‰Û÷Bank Fees IC Markets does not charge any additional fees for deposits or withdrawals. You should however be aware that you may incur fees on payments to and from some international banking institutions. IC Markets accepts no responsibility for any such bank fees.‰Ûª I submitted all the required documents, and IC Markets enabled credit card funding for my live account. And then I saw this: Gross Deposit Amount: 2000.00 CAD Bank Processing Fee: 60.00 AUD deposits will incur a 1.8% fee, deposits in all other currencies will incur a 3% fee Final Deposit Amount: 1940.00 I couldn‰Ûªt believe my eyes! For each grand I deposit I am charged $30 by IC Markets in addition to around the same amount charged by my bank for international credit card transaction. Paying around $120 to deposit $2000? Wire transfer is way cheaper than that! And I feel really sorry for traders depositing even higher amounts. Besides that IC Markets claim they don‰Ûªt charge any bank fees (see their ‰Û÷Bank Fees‰Ûª statement above). Here are the major points of my communications with IC Markets on this issue: Me: ‰Û÷Why are you charging 3% on a Visa deposit in CAD?‰Ûª IC Markets: ‰Û÷It's charged by banks. Service fees...‰Ûª Me: ‰Û÷I will be charged by my bank certain percentage for this transaction, but this has nothing to do with IC Markets.‰Ûª IC Markets: ‰Û÷It should be charged by our bank (receiver bank). Bank is not part of us - they are an independent entity. We charge 3% fees for non-AUD credit card transaction fees, which is the fees our bank charges us.‰Ûª Me: ‰Û÷I would greatly appreciate if you stop treating me like an idiot and stop playing this game: 'it's not us, it's our bank charges you.' Look again at your own website: https://secure.icmarkets.com/Finance/Deposit. I'm referring to the following paragraph, and specifically to the title 'Bank Fees': 'Bank Fees IC Markets does not charge any additional fees for deposits or withdrawals. You should however be aware that you may incur fees on payments to and from some international banking institutions. IC Markets accepts no responsibility for any such bank fees.' So the sentence 'IC Markets does not charge any additional fees for deposits or withdrawals.' actually refers to the bank fees. Then you even advise your clients that they may incur fees from their international banks, but somehow forget to mention your own out of proportion credit card deposit bank fees. How is this possible? IC Markets: ‰Û÷In my experience, for all ECN brokers, they charge roughly the same for credit card funding. However, for market makers they might not charge you the fees.‰Ûª End of story. I didn‰Ûªt make my deposit. Will you blame me for not willing to allow these clowns to rip me off? Would you trust them to handle your money? They never even apologised for the obvious deliberate misinformation as if defrauding traders is just something natural, which traders should expect. Complaint to ASIC will follow.

I have been a client of IC Markets for just over three years. Positive things: - Fast deposit and withdrawals, many deposit methods. - Outstanding spreads for retail Forex broker. - Wide range of Forex pairs and CFDs on Indices. - Support has been helpful whenever needed, on-line chat is fast and responsive. - Solid broker, supervised by ASIC in Australia. - Client area has very useful account management features like moving money between accounts and password reset. Negative things: - If you want to withdraw funds you have to use the same method as your initial deposit, this is annoying but they tell you at the start. - cTrader account is not from inside the client area, moving money between cTrader accounts takes longer but it is still ok. All in all, I think IC Markets is a reasonably good Forex broker and I intend to stay with them, at least for the time being. My discretionary trading is going well and my scalping EA performs better with IC Markets than with any other broker. That is all, may the pips be with you! 2012-05-115StarI like the one-click trading that IC Markets has on their platform, it also shows the spreads which are very good. I have never had any problems with the charts or speed of the platform when trading. I noticed that oasarun has said that he has chart problems, this is usually caused by server outages. I have never had this problem with IC. In my view IC Markets are an exellent broker and have some of the best spreads in the world. Much better than any other Australian MT4 broker. Thank you