Forex Brokers Testimonials

I placed two pending orders in two different accounts I had with IC Markets. The pending positions on one account were triggered and the price went on high enough to cause a margin call and account stop-out. However, the pending account on the other account was not triggered. I find this very odd, so I decided to check and I didn't do anything wrong. I asked the customer service and they explained that happened because "bid" & "ask" prices are not recorded on the MT4 platform. This is very weird because I have never experienced something like this before. I have received several theories from other traders on the sudden account stop-out and two of them made sense in that:

1) The leverage was suddenly changed not by me.

2) My server was moved to one of their server which has a wider spread.

To this day, I have never received a good explanation from this broker of what has caused the failure. I thought I could trust them, but I don't think so anymore.

So I have been having an issue with IC Market's MT4 platforms, which I find to be odd. This platform has never had any issues before, so I decided to contact customer support. It didn't take too long for them to investigate what happened. Several days later, I got a message telling me that they have been having issues that are connected to intermittent internet-related failures which meant some clients were unable to connect to our MT4 servers. I think they said that the problem was related to the ISP or something, but it has since been removed and now everything should work normally again. Still, I'd like to praise IC Markets for how fast they are responding and tackling the problems. This should be a standard for any brokerages.

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.

Yesterday I open several small positions with IC Markets. But I keep having problems, the server keeps disconnecting which causes my traders not to be executed. This isn't the first time it's happening, and I'm really worried. I already contacted their customer service but they said there is a problem with the system and that they will fix it. But it just keeps occurring!

I have been trading with IC Markets since 2013 and I want to share my experience with this broker. My first impression of IC Markets is that this broker is really good for new traders. They have really good spreads, but it's nothing new I guess since they are known for offering raw accounts. As a scalper, I find this is really helpful and cost-saving. But we all know that first impressions are often deceiving. After quite some time, I notice that their commission fees are too high, which is around $3.5 per round turn. That being said, I still recommend this broker since they have great features and their platform is super easy to use. But I don't know if my opinion will change again in the future.

Well, I truly have no complaint regarding Ic Markets, but I just want to share some opinions about them. In the beginning, I was just trying out their demo account as I feel it works best for me. Then, when I feel comfortable enough, I decided to switch to an ECN account and starts trading for real. It was honestly one of the scariest experiences, but I feel sure because their spread is low. Also, this broker is regulated by ASIC, which is an important factor for me, I trust ASIC more than CySEC. I do believe that regulations are very important, they should give you safety. I hope they keep with where they're at present. A genuine trader can make a lot of money from this broker. Although, if I really have to nitpick, I really wish they can change their margin percentage to 50% instead of 100%.

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.

Originally I don't have a problem with this broker, but I just want to share an insight about it. So, I read that there are a lot of people saying they have been charged with an extra withdrawal fee of around $55. I recently experienced the same things too, I personally think that it was way too expensive, even for Ic markets. So I decided to ask the customer service about it. As it turns out because intermediary banks were involved in the processing/transmission of the withdrawal, their involvement is something IC Markets has absolutely zero control over and is an issue that can come up regardless of the broker you use. 

To add, I think their customer service did a great job answering all my questions. Sadly this is not something that I experienced too often with another broker, so I'd like to give a shout-out to IC Markets for doing it.