Slippages and Requotes - Forex Broker Testimonials

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 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.

I had the worst experience with this broker, and I don't know how to deal with it. So, I recently moved from their demo account to a live account but I am already complaining. For those who want to know, this broker slippage is really bad! They keep saying they are a 'good no slippage broker' but I think that is a lie. I lost 20% on my account due to slippage, they should have included this in the demo account! I feel tricked. They also need around 10 days to withdraw, and even then, there is a 55 USD fee! I can't believe it! On top of that, customer service is mediocre, they should fix it. I really don't feel apreciated. For now I am moving to other broker.

Truly one of the best brokers I have ever tried. So far they have been very excellent in handling my orders, so slippage is almost impossible - although occasionally it did happen around news releases, but nothing major. Despite the low spread, they do charge quite expensive commission fees in my opinion, but since they have been very consistent with the spreads I'm willing to ignore it. Despite that, I have to say that Ic Markets doesn't have the best customer support, but it's not bad. I mean at least they didn't bother me with unwanted phone calls and emails. On the other hand, I have been coming to several of their webinars and classes, and I find them to be extremely informative. They do share good a knowledge that you actually need, and it's not one of those mediocre lessons you find in other brokers, I think they really put good thought into it.