IC Markets Broker Testimonials

Any Indonesian here? Is there any way I can access IC Markets in Indonesia without using VPN? Are there any Indonesian traders using IC Markets? Or link to their IB?

My first impression of IC Markets is started mediocre. I mean, it's good but not the best. Good spreads, quick order executions, all the standard stuff. Since I didn't have too many problems I decided to continue trading with them for a while. I'll try to write again after I found something else.

I don't think IC Markets have an office where I live. But, I really want to try this broker. They have everything I need. I'd just want to ask a few questions.

1. Do you have a Demo account? How can I get the funds, since most brokers tend to make me deposit some money first?

2. Is it possible to open an account from where I'm from? Or perhaps they have an office here that I don't know off

3. In terms of withdrawal, what are the usual protocols? What documents should I need to prepare? How long does it take for PayPal and wire transfer?

I have been having a struggle with withdrawing. This is a first, though, back then the withdrawal process always been very smooth and there is no problems at all. However, at the time I was only withdrawing small profits of around $300. But, earlier I was trying to withdraw a rather medium amount of $1000-ish. I submit my withdrawal request in February, and it is already November and I still can't get my money. Should I try withdrawing it in small amounts? Why is this happening?

Lately, IC Market trading platforms have been acting up. Last night it was freezing for about 40 minutes. I contacted customer service but they said there aren't any problems. So I wonder if it's just me?

Originally I joined this broker because they claim to be the true ECN brokers. Normally, ECN brokers will execute orders fast therefore I can get the best price with no risk of requoting. But, I think they are pretty slow. So to make sure I am not imagining things, I open the same positions at another broker. With the same lot, pair, and everything. My suspicions are correct, the ic market platform is consistently slower in opening and closing trades. In fact, it can take up to 15 seconds, which is insane for scalper and short-term traders. Especially because I trade in a super liquid markets, that means my chance of losing is even bigger.

The first time I withdraw my money from IC Markets, I was using Bank wire they said I should do it through Visa because they said it will be a faster and better method for me. But, when I did it next, I uses Visa since they suggested it. But it took so long for the money to arrive, so I complained and they said I should just do it through bank wire since it's faster. Honestly got no problem doing any method, but they make me wait 2-3 days every time we go back and forth. It's just wasting my time.

Has anyone experienced a stop-out incident from this broker? I mean my positions got closed automatically, not by me or margin call. I have asked the support team through a live chat, but have been providing me with responses that do not make any sense nor have they addressed the queries that I have raised. Should I complain to a regulatory body or did I do something wrong?

There are some server errors when I'm using a demo account. The good news is, I haven't experienced it during the two months I'm using a live account, which is a good thing. Although I've read that a lot of people experienced server errors during news releases, we'll just have to see. Despite that, there are several things that I don't really like. The commissions are too high, 20% of the profit when the trade is in earnings, but also when they are at a loss. I think it should be only at 10%. But the order executions are good, so there is that. Right now I'm still undecided whether to like IC Markets or not, so I gues for now I'll give it 3 stars.

IC Markets suddenly told me that I couldn't withdraw my money from 1 week prior. I don't know if it is real or a scam? As long as I know, there are no problems regarding this before. Everything seems to be going smoothly, although I have to say that my last transactions took a really long time.  But it still arrived in my account safely despite it taking longer than usual. I did try to contact customer support, but it took too long to answer. I wonder if anyone has experienced this lately? So far I think IC Markets is an honest broker.