IC MARKETS
I was with them for several years but had the miss fortune to be with them when they suspended trading in BITCOIN at $12000 at the time I was short and had the experience of 38 minutes to close my trades which I ended doing with the trading desk . A week or so later when the market was at 16000 I contacted the support and was informed that we could not trade to lack Volatilitybut in reality the volumes had trebled in actual fact . When the market hit the 19000 plus and had shown a spinning top candle on the daily chart I was keen to SHORT it . I trade with 2 bitcoin trades one with 5-1 target and I with no target . This debacle as cost me 20,000 minimum . I will never trade with them again . There response IS A JOKE !
Ctrl/Cmd+V
Amy Pepper (IC Markets)
Dec 27, 20:59 AEDT
Dear John,
Thank you for contacting us.
Yes, Bitcoin has now resumed trading since we are now able to offset risk with our hedge counter party. Due to the extreme volatility of the Crypto currenices it has also been necessary to increase margin requirements (Bitcoin leverage is now set to 1:5, and other Cryptos to 1:2). Please note that these leverages are very much inline with the wider market.
We do understand that our not accepting new positions on Bitcoin caused some inconveniences for our clients, and for that we sincerely apologise. Please do note though that we will only ever act in the best interests of our clients, and any decisions such as these are not taken lightly, and will always have been fully considered by our experienced risk management team.
Please do not hesitate to contact us should you require further assistance with anything,
Kind Regards,
Amy Pepper | Head Of Customer Support | IC Markets
Please note when we were allowed to trade the margin was 1000 per 1 BITCOIN it know is $3700 also there competitors IG & PEPPERSTONE trade on the week ends but IC MARKETS does not let you manage your positions on the week end so you get a big gap !
There must be many clients like me there had there cake and eat it there not disclosed the real reason there market makers caught with there pants down hence the big change in margins also please note any existing positions could be closed but no new ones opened .
Any interested in joining me in a CLASS ACTION due to there actions please PM me there is nothing in there disclosure of this instrument to trade that they could suspend trading for over 21 days ! Best John
Interesting complaint @REDPANTS
I’m not sure where you feel you have sufferred damage ?
Why didn’t you just trade with one of your other brokers ?
Simple I had IC MARKETS has my main broker there margin was 1000 per btcoin and who believe a broker would suspend trading for 3 weeks because there a MARKET MAKER , a lot people lost a lot more than me! This all about principle , IC done well off me in last 2 years and in return I expect a level playing field
I think to THEM - It’s more about The money !
I’m sure in the cntract you have with them there will be an agreement by you that they can refuse any trade, or any trader, at any time. 
Mate in disclosure there is no mention ! A broker can not have is cake and eat it ! Brokers are required by ATSIC to comply ! There basically said no trading that’s what were told by support because of lack volatility in fact in those 3 weeks it tripled and when it dropped back to the low volatility we could trade again but margins had increased from 1000 - 37000 per Coin .
People need stand up to brokers and wallet provider s like coin jar & coin spot
spreads off 500 between buy sell or 3% . I was loyal to IC MARKETS lost lot money my fault but the only good trade I had in 2017 I could not get on ! They admitted a lot traders were inconveniced but they had are interests as the reason.
TRUTH
They let us get on August with margins the competitors could not compete with .
Most trades were LONG once the market hit 12000 they could stand there exposure !
What about in “Terms and Conditions” ?
What you can suspend a trading instrument because your liquidly provider can not stand the heat which there as good as admitted but lie to us using the excuse Low volatility which is a total untruth check the daily charts they suspend trading when it was low resume it when it goes back to those lows a contradiction ! Have you ever heard of a large betting agency refuses to take he bet ! I will be instructing a lawyer on principle hopefully the exposure will help others who lost massive amounts do the sums - suspended 12000 goes to 19200 then drops to 11200 and then bounces to 15000 when we could trade if we wanted to put up 3700 per coin and we could not manage are positions on the week end which you can with IG & PEPPERSTONE !
Mate… i feel your pain… i remember feeling like this a long time ago
all i can say to you is this
Clearly you have MORALS
THE MARKET DOES NOT
this is like when someone robs you, breaks into your home and takes everything
and you sit there thinking “did he have to have to take this… did he have to take that… doesn’t he have any consideration”
that answer is NO, HE DOESN’T… that’s the point… HE’S A ROBBER
and NO THEY DON’T
that’s the point, IT’S ABOUT MONEY, NOT MORALS
You can EXPECT all you want
They don’t give 2 Firetrucks what you expect Mate. they will take your money and laugh in your face.
I know how you feel
but hey… this is what forex is about
and now you feel like complaining… i’ve been down this road
REGULATORS (you will find) WILL NOT BE OF ANY HELP TO YOU
this is how it is mate.
sorry to hear
but for what it’s worthy
Happy new yeah… huh
keep your chin up
so as i said before
IF THIS IS A FACT (which you’ll find it’s not) hehe
then file a complaint with ATSIC and see how far you get.
if they truly are REQUIRED to COMPLY… They will be forced to comply
if you get nowhere, then THE TRUTH IS SELF EVIDENT,
They are not REQUIRED to COMPLY
Next Point…
I understand, and now you feel Burned.
Mate, WHY WERE YOU LOYAL to a bloody broker ???
Don’t do that in the future
The Reason a contract exists is BECAUSE TRUST AND LOYALTY DOES NOT.
I grew up in a time when a handshake and your word was a contract
And to sign a paper contract was an insult.
then… time went on and there was less trust and less respect in the world and now THERE ARE CONTRACTS EVERYWHERE and Terms and conditions.
When i do work for my clients (I.T. Work) i have no contracts between then
but then again i have trustworthy clients
but with my broker
with my insurance company
With my lawyers
NO MATE… there is no trust
and i get along with my insurance broker and lawyers, but …
with the Exception of 1 laywer in particular… there is no trust
THERE IS MERELY A BUSINESS UNDERSTANDING AND AGREEMENT
the lesson here is
If you give your loyalty to a broker YOU GET BURNT
don’t get burnt again… ok mate