Hello Guys, Can anyone please let me know if there have any broker more good than IC Markets.
Kindly let me know if you know any broker that is more good than IC Markets, right now i am with them “True ECN” account. They are really good, but for some reason i need to switch another broker that is more good than IC Markets.
Thanks
Then what’s the problem.
What’s the reason.
Here is the issue, i got this email today.
"Dear Client,
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
To minimise the impact on you as a client of our ASIC regulated company, IC Markets AU, we have arranged for IC Markets (SC) to provide financial services to you pursuant to clause 29.6 of the IC Markets AU Account Terms. IC Markets (SC) is the registered business name of True ECN Trading Ltd (regulated under Financial Services Authority of Seychelles, Securities Dealer Licence number: SD018). IC Markets (SC) is a related entity of IC Markets AU.
To make the transition smoother we have automated the migration process, it is completely seamless and will not affect your account balance, existing orders, open positions, trading history and client area login. Post-migration you will be able to continue trading as usual.
What options do I have?
Option 1:
Transfer your account, open positions and client money to IC Markets (SC) on the effective date.
What do I need to do?
No further action is required from you
By continuing to trade on your account after the 30th of June 2019 (effective date) you consent for your account details, account balance, existing orders, open positions, trading history and client area login to be transferred from IC Markets AU to IC Markets (SC) and you will be able to continue trading as a client of IC Markets (SC) with the same trading conditions going forward just as you were with IC Markets AU in the past.
Important Notice: The financial services laws of Seychelles do not provide the same protection as Australian law. Under Australian law, ASIC has the power to regulate IC Markets AU conduct and the power to protect consumers (like you) against misleading, deceptive and unconscionable conduct relating to the provision of financial products and services by IC Markets AU to you. The Australian Financial Complaints Authority has the power to externally and independently resolve complaints about the products and services IC Markets AU has provided to you. If you transfer to IC Markets (SC) you will lose all these protections.
Under the laws of Seychelles, True ECN Trading Ltd is regulated under Financial Services Authority of Seychelles, (Securities Dealer Licence number: SD018). IC Markets (SC) is the trading name of True ECN Trading Ltd. IC Markets (SC) will keep offering its products and services in line with its terms and conditions which are substantially the same as those of IC Markets AU. This includes the provision to segregate client money and hold it on trust. IC Markets (SC) holds client money with AA-rated banking institutions in Australia regulated by the Australian Prudential Regulation Authority (APRA). IC Markets (SC) will also continue to handle complaints in accordance with its well-established internal dispute resolution procedures which are similar to IC Markets AU.
For more information please refer to the IC Markets (SC) Account Terms
Option 2:
Maintain your account with IC Markets AU
What do I need to do?
If you choose not to migrate you will need to opt out of the migration process, you can do so by clicking on the button below and completing the form. IC Markets AU cannot guarantee that you will be able to continue trading on your account after 30 June 2019. Furthermore, we cannot guarantee that we will be able to continue to offer certain features of your account such as your current leverage.
We will also need to open a new account for you so that we can properly manage any changes that may occur in the future (e.g. leverage), this will mean that you will lose your account history.
IC Markets AU will provide you with notification should we be unable to continue trading with you under our Australian Financial Services Licence after the 30 June 2019.
Do not migrate me
If you have any questions regarding the migration process, please visit our FAQ page. You can also contact us by email on enquiries @ icmarkets . com or Live Chat.
Kind Regards
IC Markets"
I also plan to leave to IC Markets for this change in regulators. Broker recommendations will be highly appreciated.
I have checked some brokers like Alpari, FXCM, FXTM, FBS, FP Markets, ACY Securities ECN Accounts But no one is good like IC Markets. Its our bad luck that we can’t stay with IC.
They are all BS.
What country are you in that is stopping you from using IC Markets now?
I am from Bangladesh.
very bizzare regulation
it sure helps the broker by moving foreign clients to some unregulated space where they can scammed in day light
What about tickmill & admiralmarkets Guys?
I choose stay with ic markets (SC), because so far i dont have any issues with this broker,
I will keep the account for a while, keep fairly minimum balance and maybe watch & see. Please update each other guys. Thanks for starting the post.
Tried searching for IC Markets (SC) but nothing comes up at all. Not sure if it’s a good idea to keep my account for some time…
With all due respects, you could walk into a scam asking for a broker on an open forum. Please do your research in a reserved manor.
Just an observation, not a judgment.
Kind regards
get an address in australia then, super easy
Plenty of better alternatives to IC. Do some research to avoid getting scammed.
I am trading there as well. I will close out everything and move to another broker. I did not have any problems with them myself but was stunned by the amount of cases on forex peace army. So I am a bit anxious if I will recieve my funds.
Tried Tickmill, they did an obvious stop hunting to my accounts. Demo grew to 30,000% in 6 months, when live shrinks down to -90% in 6 months. They’re trading on same robots, same settings, and same server.
AVOID!!!
Summary: Dear ignorant clients, IC Markets is moving to Seychelles then we can do stop hunting comfortably to you all who live outside Australia. In the mean time, don’t forget to eat grass because we see all of you as ignorant cows. Period.
In my opinion for now, I would recommend these brokers that I think they seem to be nice but you’ll have to try them yourself. I won’t guarantee any of them.
I’m giving you success recipe:
Wish you best luck and MASSIVE PROFITS!!!
Guys check your inbox for IC Markets latest email.
Thanks