Order Execution - Forex Broker Testimonials

I had the worst experience with the IC market last week. The story was, that I open a position in the XAU/USD. I think it was around 6 PM my time and I notice that the price charts didn't move at all. Which is odd since I always checked in a small time frame. I asked IC markets they told me it’s expired and I cannot hold it. I was stunned because it was my life-saving money. It is odd since this has never happened before! I complained but they did nothing. They use to be an honest broker, but I guess that changes now.

A big joke for sure! They have been nothing but disappointing me until today! In fact, several days ago, they execute an order that I did not request! How does that even happen I have no idea since I was inactive for a few days due to personal health (I caught Covid). I had to contact their customer service because the loss I suffered was not small at all! I tried to contact them via live chat and email, but they did not answer at all, it feels like the service is unavailable. I had to make a call, AN INTERNATIONAL CALL. Which cost me a lot so I am pretty angry now.

I think their market depth is worst than any other broker I've tried before, especially for indices. One of the most recent examples is when I'm trying to trade US30 and I realized that the price regularly fills 2 whole points higher than the quoted price. Their depth of market shows they only have single-digit lots at the quoted price. Although it's true that they are consistently keeping tight spreads for a smaller lot, if you are trading over 10 lots, it will feel more pricey. The slippages are also really bad in my opinion, most brokers easily fill 100 lots around quoted price with less slippage. Slippage for large lots is normal but 2 whole points slippage is unheard of for 100 lots in normal trading non-news times.

ICMarkets what happened? Yesterday all of my accounts were INTERNALLY reduced to 50, although all of them are on 1:500 leverage. This only happened on MT4 and MT5 only, cTrader wasn't affected. I requested an urgent fix, but was left for 24 hours with many backs and forth. Only then did my account switch to its original state. They used to be very smooth. Now, even talking to the support team makes me stressed.

I tried their demo account and it was terrible. The server lag is unbelievable! It happened during both London and New York open to be exact. Now, I am not sure if I want to continue creating an account in IC Markets. For me, order executions are the key to profits. How am I gonna get one if their server supper slow?

One time I was trading gold and they suddenly froze the platform. I got to be honest I didn't think it was their fault at first I purely think it was a system error. But that happened quite a several times again after that and for a long time as well. Obviously, the slippage was crazy, and it event going right through stop loss and didn't allow me to trade at weekly support where I knew there was a strong buy. As it turns out, my friends had same issues with their mt4s and the mt5 was working fine like other brokers.

I have some problems with the charts not moving during the volatile period. This has become such a problem because it happened more often than I want to admit. I contacted customer service but they keep saying that there is nothing wrong with the platform and said that it must be my internet. But that is not the problem, I don't have connection issues. I also open another position in a different broker and it moves just fine, so it's definitely not my fault.

This is my first time experiencing this kind of thing, so perhaps someone can explain it to me. Last night, I executed my sell at 0.72525. But the moment it enter, it went straight to enter sell at the bottom. This makes my whole account turn red and the margin level negative. It finally went down, and I decide that I want to close Breakeven, I was close in +1/2 pips, but the result is showing -8 pips with a loss. I already checked with ICMarkets but their answer doesn't really explain what was happening.

I have been trying to get my money since June to no avail. At first, the withdrawal process was instant and super smooth, I even left a nice review on several platforms for IC Market. But, lately, I have been making consistent profits and that's when the problem starts. They began to take a longer time for withdrawal, but there are more problems occurred. Such as my stop loss not being executed and causing me a lot of loss. Speaking about withdrawal again, this broker has the audacity to blame my bank. Basically, they will blame anyone but themselves.

I just close my IC Markets account because I have been making losses ever since I opened the accounts for over several months.  always believed that it has been my problem when I made losses until I joined other brokers and started producing profit with the very same strategy I have been using with ICMarkets. I have heard rumors about them manipulating spreads and stop loss. I don't know if this is all true but bad things always happened to me when I'm trading with them.