Order Execution - Forex Broker Testimonials

Several months ago, Oanda suddenly kicked me out of my position without any warning. I was in a good profitable place, it was well above my stop loss. I thought there must be some mistake so I talked to their customer support and I didn't get a clear explanation about why such a thing happened. That is not the only time I had a problem with this broker. Recently, I also find out that Oanda suddenly wiped out my account due to an inactivity fee. It wasn't even that long since I'm not really active, but that is just because I was holding positions, they can well see that I still have an open position. There is no reason to kick me out.

At first, they will 'hook' you in with smooth low spread and quick order executions. But then the problem begins. Soon, they will begin to increase the spread many times, just to auto-close and stop out on small accounts, although they claim to be the best ECN broker. A lot of time you will have hard times trying to withdraw YOUR own money. And when you ask the customer service they will either tell you to wait or told you that there is a problem on your part. They do not comply with their product disclosure statement. They also have mobile trading apps that have a lot of bugs and are just very unreliable.

I just began trading with IC Market this month and have already noticed several things.

1. Spreads are tight, but they can increase during unexpected hours.

2. For some reason, I got stopped out of a very favorable position for no reason.

3. The support is extremely terrible and the in withdrawals is abysmal.

4. Up until today I haven't got my money

and might rethink and withdraw all of my money, But even that is ridiculously difficult.

They used to be so good, but then they changed. Suddenly withdrawal wasn't so smooth anymore. Spreads were still pretty tight but slippages were horrible, sometimes there would bes in the charts and stop-loss doesn't execute properly. All this problem started when they change their entity from IC markets Australia to IC markets Global Seychelles. I don't want to say that this is what caused all of the issues, but it might be. Just remember to always be careful during trading.

I wouldn't say they are dishonest but I just want to remind new traders to be more careful during trading. Those who love to use high leverage should pay more attention. Especially with the spreads opened at night, every trade that is 200 pips away from the SL point becomes a stop. Meanwhile, The spread, which is 7 pips during the day, goes up to 100-200 pips at 00:00. I am not sure if this happened in all trading instruments, but they should definitely be more careful. I would suggest using small or no leverages and trading small lot.

I have contacted their customer support since I suspected there was something unfair going on. But, each time I have a response stating something that didn't happen in reality. their poor excuse for why I lost and wiped my trading account is because I closed another hedge trade 15mins before my issue came up and I had an excess amount of 60 lots of unhedged positions which might seem logical on the surface.

Except that it wasn't; my margin was above 400%, and the market didn't gap against me. So I was in a profitable position, and they just wiped it away like it was nothing. It's okay if it was a mistake and they can own up to it, but they keep giving me excuses that don't make sense.

I haven't been online for a while due to real-life things. So, understandably I haven't checked my account for quite some time. Recently I have some spare time and I decided to check out my account, and perhaps start trading again or something. Oddly enough, I found out that a trade of XPDUSD that was automatically opened and then automatically closed after 5 minutes gave me a loss of 74.28 USD. I did not open any positions at all and all of my remaining positions have been closed before I went inactive. Decided to contact the support team and they have the audacity to blame me for the most ridiculous reason I have ever heard. I provide proof but they simply say like robots that the broker is not responsible for such losses.

I was having issues with Ic Markets because they keep failing to execute my stop loss. You do understand the importance of a stop loss right? What is the point of placing it, if it's not even executed? Another time they kicked me out of the market when I almost reach my take profit level. I was in a good position, a profitable position, and they kicked me out. I asked customer service, but they didn't give me any explanation at all. They have good spreads, alright. But, again, what is the point of that if technical issues like this still happen? Fix it!

I use IC Markets since October, but I have also opened an account with another broker. Somehow I lose in Ic Markets but win in the other. This is very odd since it's the exact same positions. How could that be? I ask the customer service but their explanations don't make sense.

I can't believe how manny slippage I have experienced with this broker. That is not the only thing I hate about it. Quite often the stop loss is not being hit and it caused me immense losses. Funny enough, they even blame everything besides themselves. For example, one time they will blame the market conditions. When the platform suddenly froze and cause me a lot of losses, they will blame my computer or my internet. I did told them, (with evidence) that there is no problem with my device and internet, but they still say the same thing.