Deposit and Withdrawal - Forex Broker Testimonials

I use the Neteller payment system with IC Markets, so far there haven't been any problems with it. But, my friend who has just started trading with this broker tells me that he's been having withdrawal problems, but he uses a local bank. So I told him to switch to Neteller and it went smoothly.

My money keeps getting stuck in my trading account, it's unreasonable. I can't withdraw it and I have been trying for months for this. I have asked the customer service but they are blaming my banks. They said the bank refuse to do it, but I find this odd since I have been using it for years. I don't know why they suddenly have problems with it.

So far I am very pleased with IC Market, and here is why:

1. Withdrawal is supper quick and hassle-free. However, I've only withdrawn in small amounts and I'm not sure if that's a problem.

2. They have a really good spread and I really enjoy it.

3. Very fast and helpful support team when you need it which is always a win.

4. Best gold and EUR/USD spreads I have ever seen.

Has anyone ever experienced this? I will explain it in chronological order.

Several weeks ago I deposited some funds for my MT4 account in IC Markets, but it didn't go through.

I contacted customer service and they said they will be doing something about it, but after a while, I receive no updates regarding the situation.

Because there are no updates, I send another email and I haven't received any answers about it.

How long does it takes to get an update? Will I ever see my money again? It's not much but it's about trust.

It's good that IC Markets have good spreads and affordable commission fees. But, there are several reasons that make me question this broker. For once, why do you let people deposit from skrill if you can't let them withdraw from it? It doesn't make any sense to me. I tried another withdrawal method but it was also full of troubles. Second of all, please reduce your slippage! It's insane how much I suffer only from slippage! It makes trading during super volatile markets more dangerous than it already is. Third, customer service is really bad, I don't think the team understands anything about trading despite my reasoning and explanations.

Here are the conclusions of my experience in IC Markets, starting from the positives.

The good part

1. Low latency which makes my trading execute smoothly, I love it when that happened. Really eased my anxiety.

2. Spread is super tight.

3. Customer service department is really good.

4. Didn't lie about being an ECN broker.

Now on to the negatives

1. Concern about the regulations, is FCA and ASIC regulated?

2. Withdrawal can be slow, which is a problem.

I don't know what should I give them? Maybe 4 stars?

I think I have been with IC Markets for over 2 years now. Very fast support. If I have any issues, they are almost always solved through chat. Great customer care service! Swift response and execution of requests. However, they also have other issues that I hope they can fix. For example, the withdrawal process can be slow, aside from that the funding methods are also not very flexible. So I hope they can help with that.

They use to be so good but now they are just like any other brokers. I just keep having problems after problems with them. Recently, they canceled all my profits including the remaining amount that had stayed in my account after the previous withdrawal. This is coming out of nowhere considering several months ago I still making withdrawals and everything was OK. Five months later I made a second withdrawal and everything went wrong. I've read in some forums that this happened to people who are making a profit regularly but I don't know for sure. Just very disappointed.

IC Markets is not the perfect broker out there. But I can't deny that they have the best commission, spreads, support, fast execution, and really nice website compared to others. The support is really good and helpful, I really like how they make me feel important. they actually take care of my problems seriously. The educational support is also great, they have useful contents to help new traders learn and evolve. One thing that I didn't enjoy is how big the withdrawal fee is if you are using a local bank. However, I understand that this is the bank's policy and not up to IC markets to decide.

Here is what I like about IC Markets

- Quick withdrawal, the process is instant and smooth.
- Small spread, so it's really good if you want to trade small.
- Good customer service. Always ready to help and very comunicative.
- Possibility to open multiple accounts.

That being said, there are some limitations on how many accounts you can open. That includes the one you archived and delete.