Regulation and Security - Forex 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?

According to my observations these few months, I think eToro is a

1. The best broker that provides resources and technology platforms.

2. perfect for traders who are looking for the best copy trading features.

3. Have amazing spreads, even when the market is super volatile.

4. Great order executions

5. Regulated by financial and security authorities makes them a trusted broker.

I started trading with Icmarkets because my mentor suggested it. To my surprise, it actually has everything I need, from spreads, order executions, and a lot of other things. Originally, my mentor suggested it because it's safe, they have low spreads and fees per trade, a lot of deposit/withdrawal methods which makes your financial experience flexible. They also have great customer service that is available 24 hours. Also, they are very receptive and you don't have to wait a lot for their response.

IC Market's server is totally unreliable. It froze when there is a big news release, it's a very important time for me. In fact, it froze for more than 15 minutes! How am I supposed to place an order like that? I know that the market is crazy during those times. But you would think that a company as big as IC Markets would prepare something to protect traders against that condition, not to mention they are regulated by ASIC. But nope! They just let it slide. It is very disappointing to loose huge during the most crucial time.

I have been trading with them for about a year, but however, I am still undecided. Sure, they have great features that I actually like and benefit from. But at the same time, there is some stuff I don't like as well. For example, deposits were super smooth, but the withdrawal can be quite a hassle. Customer support was quick to answer, but sometimes their answer is pretty much nonsense. Although there are some officers who actually know about the issue and resolve it quickly. That being said, I still think that IC Market has the best spread in the market. They also have awesome webinar content. I'm not sure about the promo and contest, I don't think they have much of it. But that's probably because they are a member of ASIC.

This is a true ECN broker that actually does what they promise to do. No matter how volatile the market is, the spread is somehow very consistently low. Executions are very great and super-duper fast, I never have any requotes. Deposit and withdrawal also happened very smoothly, they have a wide range of paying methods as well, very flexible. Good customer support will well-trained team that offers solutions for fixing up my problems within an hour. I guess that's what a good ASIC brokerage is. To add, IC Markets also have one of the best webinars programs among other brokers I've tried befor. I definitely recommend it for new traders.

I notice that a lot of people having some troubles with withdrawal. So, I would recommend using Skrill, I have tried most of their available withdrawing options and so far Skrill has been the best one. It's quick and more affordable. Your withdrawal request will be processed on the same day. It's also very quick and easy, so I definitely recommended this. IC Markets is regulated by ASIC and FCA so they are trusted.

It's true that ICMarket has one of the lowest spreads I have ever seen. But I feel like the commissions are too high. If I'm not mistaken, it's about 20% of the profit when the trade is in earnings. The worst part is, they still charged it even when the positions are at a loss. Most brokers normally only charged about 10%. That being said, I still think that this broker is very professional. I actually prefer ASIC-regulated brokers among others, since they are really good and keep things safe. The platform in ICMarket is also super easy to use even for someone who isn't tech savvy like me.

In the beginning, it was really good. My deposit went very smoothly and there are no problems that occurred during this process. My funds appear almost instantly in my trading account. Even when I'm trading, everything seems to go very well and hassle-free. I think I must have found a reliable broker. But, sadly the problem arises when I'm trying to withdraw my money. They just won't let me get my own money. I tried to ring the person who originally phoned me from Oanda some time ago. Only to find the number is not valid anymore. A tip, you might want to file a small claim against them and report to the FCA if you experience this.

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?