IC Markets Broker Testimonials

They use to be a really good broker, but they since have changed and no I'm no longer trust them. Especially because their executions and customer service going downhill. Here are some of the reasons why I choose to withdraw my funds from them.

1. Numerous platforms freeze, even when it's not during news releases.

2. Frequent slippage which has cost me a lot.

3. Delayed confirmation of execution.

4.  Platform going down during important news events.

5. This is personal but, they deducted funds from my credit card by mistake, wouldn't admit it. I had to contact my credit card company.

IC Markets has been one of the best signal providers that I know of. This is why I keep trading with them for months. I think they were quite a good broker that has super-tight spreads and has great customer support. But, lately, I feel like there are a lot of changes inside the system that doesn't sit well with me. Not that there is anything wrong with that it's just that there was obviously a change of ownership and many noticeable data feed changes. even the customer service is not as good as usual now, it seems like whoever is behind the computer, doesn't understand anything about trading. They can't even fix the simplest problems and you cannot withdraw to your bank account for 60 days after depositing. However, I am still trading with them while also hoping that they will return to their original self.

I can't say that I'm satisfied with this broker. I have been experiencing very poor communication, with automated emails. Sometimes they won't even bother to answer me at all. For example, I ask if a certain payment option works for international clients, and they said it would work. But when I checked again it doesn't, so I ask again if there are any options that will work the same. I got no response.

Another problem is that my analytical program began to record increasingly poor execution speeds and increased slippage. I have compared it with another broker where I also use the same EA on the same VPS. I wrote an email, explaining this but I didn't get any response. So, I have decided to withdraw my funds from IC Markets. Which also takes a long time to do. It is supposed to take 2-5 working day time frame they quote in their wire transfer withdrawal option has long since lapsed, and the funds have not been returned. At this point, I'm really tired of emailing them.

I had mixed feeling about this broker, so before I starts trading with them I decided to ask around. But the response I get from other traders is quite confusing. Some of them say that IC Markets is great, while others say they have been conned. So, I decided to try them out by myself, I start out with a demo account like the typical trader I am. It went on okay, with great spreads, no slippages, etc, then I moved to a real account. But, the problem starts when I trade NZDUSD news. 

I put a pending stop order at 22:55 pm, news came in the candlestick didn't move and just stood there for 3 minutes. Luckily, I also open the same positions in another broker and its moves, so it wasn't the market. Then suddenly my order got opened after a 121 pips downward move when bearish run had finished, instead of banking 121 pips profit. Obviously, I was forced to close positions and I literally don't know what just happened. Are they really manipulating the prices?

I placed two pending orders in two different accounts I had with IC Markets. The pending positions on one account were triggered and the price went on high enough to cause a margin call and account stop-out. However, the pending account on the other account was not triggered. I find this very odd, so I decided to check and I didn't do anything wrong. I asked the customer service and they explained that happened because "bid" & "ask" prices are not recorded on the MT4 platform. This is very weird because I have never experienced something like this before. I have received several theories from other traders on the sudden account stop-out and two of them made sense in that:

1) The leverage was suddenly changed not by me.

2) My server was moved to one of their server which has a wider spread.

To this day, I have never received a good explanation from this broker of what has caused the failure. I thought I could trust them, but I don't think so anymore.

So I have been having an issue with IC Market's MT4 platforms, which I find to be odd. This platform has never had any issues before, so I decided to contact customer support. It didn't take too long for them to investigate what happened. Several days later, I got a message telling me that they have been having issues that are connected to intermittent internet-related failures which meant some clients were unable to connect to our MT4 servers. I think they said that the problem was related to the ISP or something, but it has since been removed and now everything should work normally again. Still, I'd like to praise IC Markets for how fast they are responding and tackling the problems. This should be a standard for any brokerages.

I had several accounts in IC Markets and other brokerages. Recently, my IC Markets account lost over 14k while my account in another broker lost 200euro's with exact same robot. I find this really odd since both of them place entry at the same time, and exit at similar times as well. So, I did some digging, and probably IC Market was sending different prices for USDCHF during the news. I checked on the financial reports and everywhere including the Bloomberg, that the pair was never on that price. So, I found that the difference between the actual price and IC Markets price is over 2000 pips! That is almost impossible.

I thought that has been a mistake and my order was having an error or whatever, so I called their support service. After 3 weeks of calling, several emails, and promises, they finally come to a conclusion that during the SNB announcement, spreads were extremely wide, and there was uncertainty by the banks. In the end, all they do is blame the liquidity provider that they CHOOSE by THEMSELVES. I was really mad about this, I lost on 3 accounts with the same results. I feel cheated and tricked.

I don't have the best experience with IC Markets. I originally have around $10,000 on my account during SNB news. I was trading 2 NZDCHF and 1 USDCHF and several small positions. But, this broker suddenly send me a horrible unbelievable quotes like a 0.06050 on USDCHF! This is of course immediately send me to stop out. During positions were closed I have $103,7 margin used, but after stop out, I have left $240 on my account. After the adjustment, they threw me $1884. I do not have to explain when I have $1884+$240 equity and while $103,7 margin is used it is very far away from margin call and stop out. However, this broker decided they don't want to compensate me. So, in the end, I lost 85% of my account while prices was on 50% or around $5000.

Yesterday I open several small positions with IC Markets. But I keep having problems, the server keeps disconnecting which causes my traders not to be executed. This isn't the first time it's happening, and I'm really worried. I already contacted their customer service but they said there is a problem with the system and that they will fix it. But it just keeps occurring!

I have been trading with IC Markets since 2013 and I want to share my experience with this broker. My first impression of IC Markets is that this broker is really good for new traders. They have really good spreads, but it's nothing new I guess since they are known for offering raw accounts. As a scalper, I find this is really helpful and cost-saving. But we all know that first impressions are often deceiving. After quite some time, I notice that their commission fees are too high, which is around $3.5 per round turn. That being said, I still recommend this broker since they have great features and their platform is super easy to use. But I don't know if my opinion will change again in the future.