Forex Brokers Testimonials

Has anyone ever experienced this? I will explain it in chronological order.

Several weeks ago I deposited some funds for my MT4 account in IC Markets, but it didn't go through.

I contacted customer service and they said they will be doing something about it, but after a while, I receive no updates regarding the situation.

Because there are no updates, I send another email and I haven't received any answers about it.

How long does it takes to get an update? Will I ever see my money again? It's not much but it's about trust.

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.

The most important part about trading for me is the spread. I need a tight spread to maximize my profits. IC Markets not only gives me great spreads but also a wonderful platform as well. Order executions are also very smooth and everything goes according to what I plan. Sure there are some minor problems once in a while, but it's nothing I can't handle.

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?

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?

I think I have been with IC Markets for over 2 years now. Very fast support. If I have any issues, they are almost always solved through chat. Great customer care service! Swift response and execution of requests. However, they also have other issues that I hope they can fix. For example, the withdrawal process can be slow, aside from that the funding methods are also not very flexible. So I hope they can help with that.

I think they are one of the best brokers if you are looking for an honest one. I originally trades with them because I heard they have low commission fees, so I tried. It was amazing and I really reap a lot of benefits from their service. Even their automatic trading platform is really good and super easy to navigate. However, I do not think they are perfect. In fact, there are several things they should change in order to upgrade their service. One thing that I can say is that sometimes there is price slippage in big market movement on ECN account. That would cost me alot.

As someone who has been with several brokers, I have to warn you guys. Read the terms and conditions carefully. A lot of new traders feels 'trapped' while in reality, they are the one who hasn't been reading carefully.

They use to be so good but now they are just like any other brokers. I just keep having problems after problems with them. Recently, they canceled all my profits including the remaining amount that had stayed in my account after the previous withdrawal. This is coming out of nowhere considering several months ago I still making withdrawals and everything was OK. Five months later I made a second withdrawal and everything went wrong. I've read in some forums that this happened to people who are making a profit regularly but I don't know for sure. Just very disappointed.

IC Markets is not the perfect broker out there. But I can't deny that they have the best commission, spreads, support, fast execution, and really nice website compared to others. The support is really good and helpful, I really like how they make me feel important. they actually take care of my problems seriously. The educational support is also great, they have useful contents to help new traders learn and evolve. One thing that I didn't enjoy is how big the withdrawal fee is if you are using a local bank. However, I understand that this is the bank's policy and not up to IC markets to decide.