Spreads and Commissions - Forex Broker Testimonials

In the beginning, I had really high hopes for eToro because I heard they have great service. But, it turns out it's all lie. They advertise themselves as a free trading platform, but the spread and execution are truly awful. It doesn't stop there, their customer service is basically non-existence. Every time I ask about something all I get is automated copy and paste templates. Glad I haven't invested a lot of money in them or else I might lose my money. I might withdraw all of my money and move to another, better broker.

I find it odd that Oanda accepted a deposit from my bank but REFUSES to allow me to withdraw funds. Why would they accept money from my bank but can't transfer it to them? It's ridiculous! Very, Very, Very upset over the inability to withdraw funds. Not to mention the transaction fees I get when I first deposits is really high, which is around $20.  Debit cards cannot exceed the amount deposited. Yes, they allow you to switch to another platform for withdrawing, but it takes FOREVER. I just want my money, why is that so hard to do?

Okay, when I first traded with IC Markets I was pretty happy. They offer me the best price on everything, such a good deal for a great service. However, this has changed now. These days, they will do all they can to get your money. That's not the only thing I hate, now they also have ridiculous spreads, slippage, and even moving money within their platform. Another bad thing I notice is, that whenever I put a buy stop in, or sell stop the trade always starts early and ends early. This is really bad.

I still don't understand what happened, but I will try to explain it in a chronological manner.

First of all, I was trading GBP/CAD earlier. In the beginning, everything seems smooth and I wouldn't think that there is anything wrong at all. I look away for a little bit and suddenly I receive a huge loss. Precisely around 150 pips! I understand that the market might be moving at lightspeed but it won't be this much? I contacted customer service and their answer didn't satisfy me. Has anyone experienced this before? Can anyone explain what happened?

Not gonna lie, I was interested in IC Markets because they advertise themselves as 'raw spread brokers'. Let's be real, who doesn't like small spreads? In the beginning, it all went very smoothly, the spreads are actually good and there are no problems with withdrawing (it's very important that I get my own profits). But then, I noticed that IC Markets increases the spread many times, just to auto-close and stop out on small accounts, despite claiming to be an ECN broker. Problems keep happening, I have difficulty in withdrawing the funds from my account to a bank account. For some reason, do not comply with their product disclosure statement.

I am pretty sure they manipulate the spreads and stop-loss manipulations. Last month I was trading in a GBP/USD and I make the mistake of not checking for a while. When I saw that I have lost I was really surprised, turns out the spreads have moved 8 pips from my original positions. Another weird thing is that I actually place a stop loss before, but it wasn't executed. Now, luckily I also open a similar position of the same pair in another broker and it hasn't moved that much! Am I imagining things?

This is what my experience is like with IC Markets:

Weeks ago, I open a position with spread around 2 pips. But this broker suddenly decided to increase the spread of the pair to 30 pips for two seconds resulting in stop-out, I lost almost 7k totals. Then after I close my positions, the spread dropped to 10 pips immediately after a few seconds. I checked with another broker (I also open the same positions in another broker and there is no problems). I show this evidence to their customer service but the response doesn't make any sense. The main point is, they refuse to compensate me.

It's good that IC Markets have good spreads and affordable commission fees. But, there are several reasons that make me question this broker. For once, why do you let people deposit from skrill if you can't let them withdraw from it? It doesn't make any sense to me. I tried another withdrawal method but it was also full of troubles. Second of all, please reduce your slippage! It's insane how much I suffer only from slippage! It makes trading during super volatile markets more dangerous than it already is. Third, customer service is really bad, I don't think the team understands anything about trading despite my reasoning and explanations.

I can't believe the stunt they pull during the news release. They impose super high spreads for the majority of the major currency pairs which is around 100 pips to 200 pips. That of course sent me down to hell. I know that the market is super volatile at the time, but it's still insane. I trade the same pair on another broker and it wasn't that bad. Besides they do impose very terrible slippage that is approximately 10 seconds for delay of market execution on whoever had placed trades on the market. I confronted them, but they just wouldn't budge and keep saying nonsense. Should I move to another broker?