They cannot return the money to CreativeT, he has provided evidence that it is not his money and he has admitted to obtaining a financial service to which he was not entitled using money the origins of which he cannot prove. This is money laundering and the firm cannot take part in that. They can only send the money to the owners who can prove its their money and that they obtained it legally.
He is not entitled to the profits made, and neither are the owners of the money.
wow! I thought IC was a good and popular broker?
@sebastiano You are right, itâs not very simple case as it looks like or people making their suggestions that it was not my money. I know how Forex Brokers works thatâs why I requested my client to make a $1 deposit and it was accepted by the broker then after 15 minutes he made another deposit of $999 and it was also accepted it was in 2018 not in 2019. If I am scammer/money launderer why should I report to ASIC and FCA asking for my money? ICM doesnât accept clients from Canda and USA, but they accepted payments from both of the countries now you may say Wow! What a great AML policy!
@tommor Clearly looks like you are acting on behalf of the broker. If you take a look I wrote in the details that it was not first time third party deposit. Here is again for your info:
1- 09-April-2018 my friend made a deposit of $1 AUD it was approved by ICM
2- 09-April-2018 (after 15 minutes) he made a deposit of $999 AUD it was also approved by ICM
3- 21-August-2018 My client made a deposit of $150 USD from Canada it was also approved by ICM according to ICM AML policy they doesnât accept payments/clients from US, Canada, Iran etc⌠How they accepted it?
4- 11-Feb-2019 My client made a deposit of $2500 USD from US it was also approved by ICM.
Mistake can be happen only once but ICM was accepting every deposit until I told them by myself when I tried to withdraw my profits. They took 12 days to update their website for AML policy and then they replied me. If it was a FCA regulated broker they will never ever accept very first third party deposit.
I am not new into eCommerce business or into the Forex business. I know the rules very well, now let me know who was accepting payments and who is breaking their own AML policies. I will not stop here if they will not return my money I will use all of my legal options to get my hard earned money back. Any person who he/she is trying to launder money or trying to scam will never ever use legal options. If I am from Pakistan doesnât think that every Pakistani is a scammer or doing illegal business.
@eddieb You are right and I am agree 100% with you. If it was a FCA regulated broker I should get back my money without even the involvement of FCA. Before switching to ICM I was using One Financial Markets and I love how ethical they are, they just changed my account leverage without sending me any email and I just sent an email to their CEO and they apologized and changed my leverage back with a small gift 
@tommor Mr. Lawyer I was not trying to respond back to you but after reading all of your comments you are trying to portray me as a Scammer/Money Launderer I already replied with third party deposit details and now read every single word carefully.
1- I opened my account in 21-Dec-2016
2- First deposit was made by Skrill with my own account.
3- All of the deposits I made excepting those 4 deposits, they were by my bank or Skrill.
Any reputable broker never ever accepts third-party deposits I already mentioned the case with One Financial Markets regarding my account leverage changed. Look at the details and then kindly try to impose your legal and valueable suggestions.
Hi CreativeT.
I do not say you are a money launderer. But what I mean is the law will treat you like a money launderer if you do what money launderers do with money. Which is to get money from third parties and deposit it with a broker and then ask for it to be sent back to you.
I have already suggested the firm should return the money to the third parties (on the basis of evidence from them that it is their money). Money which you deposited, which you can prove is yours only, should be returned to you.
The profits are at least partly gone. The best you can hope for is the firm send the profits to you as you made an honest mistake with no intent to defraud anyone of capital or services and so did they also made an honest mistake by accepting third partiesâ deposits.
Or they could send you some of the profits in proportion to the amount of money you put in compared to the total from yourself plus the third parties.
But these are unclear matters and it might be good to have a lawyer help argue your case.
Of course, what the firm could do is report you to the authorities as a money launderer. I think I already suggested you need to consult a lawyer.
really worrying that things like this can happen
Have you ever did Forex Business by yourself? Do you know that Forex Brokers doesnât accept third party deposits, if any broker accept they return within minutes and it was never the case with IC Markets. They accepted 4 times. Go ahead and report to Pakistani authorities. You are pretending to be a lawyer here but now I can say you doesnât know anything regarding the law.
It happened 4 times as you can read by yourself. Thatâs why I reported to ASIC
OK. So what do you want out of this whole discussion?
Maybe you wanted to damage ICâs reputation. Fine by me, I already said the firm were cr@p at doing their job. I certainly have said nothing good about them.
So, what do you want?
Thatâs plain sillyâŚ
If ICM said they donât accept Canadian clients but accepted a deposit from Canada thatâs an issue but they would claim that was a mistake and perhaps return that money from wherever came from, to whomever came from
I am no financial whiz or professional forex trader but it is my understanding throughout the industry that funding and withdrawals are a one way street.whichever way the money goes in it has to come out the same way.
From research Iâve done, retail accounts are for one person only. I understand the process and idea behind the scenario of people depositing into an account and the trader taking the profit from the account but I donât think retail accounts in the industry work that wayâŚ
KC
This threadâs old. But we are where we are. Or rather the OP is where he is.
To summarise, the OP has asked a firm for some money to be sent to him which he clearly states is not his. What grounds do you believe the firm, or any firm on the planet, has to send this money to him?
I agreed with you, but the problem arise when I was in profit when I was losing money there was no problem and they accepted deposit from Canada 2 times (as you can see above I already mentioned that instead of sending money to Pakistan I asked my client to deposit into my IC markets accounts) . If IC Markets warn me at the 1st third party deposit I never deposit the money again and again. Now I am going to hire an attorney because of their accounts & financial team I lost my 2 valuable clients.
What is your stake on this thread? Did you ever lost 2 valuable clients? I donât think you even you read the entire scenario even one time. You even didnât understand if I was stealing someoneâs money why should I come any forum and discuss? Why should I provide details by myself if that was not my money.
Nobody has said you are stealing money, is not a question of theft.
But you are asking IC to send you money which you have already told them is not rightfully yours. I am sure that IC want to return money to its proper owner but they owe a duty of care to that person to return it direct to them, not to send it to a third party, which is you.
Also, when you talk about money, you are not clear whether you are asking IC to return the funds deposited or to pay out the profits that have been obtained with those funds. Funds deposited with IC belong to whoever owns that money, so maybe some of it is yours, but the rest belongs to the clients you mention. It would be surprising if IC sent these other personsâ money to you after you have provided proof that it is not yours.
As for the profits obtained from trading, I donât see IC providing that to anyone. Any profits made by trading contrary to ICâs T&Câs are probably going to be null and void, and I suspect they will say they are under no legal obligation to pay them to you or anyone else.
Maybe you can get some more details from IC and maybe also get the opinion of a lawyer. It would be great to see some more information to support your opinions.
If they do allow something in the first place and then did something opposite later they shouldnât get the whole picture of that matter pretending something didnât happen then for whatever reason out there, I do hope everything will be fine no matter what.
Never recharge via 3rd parties and thatâs the general rule. Such cumbersome I think is the fault of you in large part
Wow! I was and I am right, you are silently representing IC Markets here under anonymous name. IC Markets clearly stated on their website that they are not accepting clients from US, Canda, Israel and Iran if that is the case why they accepted 2 times deposit from Canada and one time from US? I downloaded all of their T&C and read very carefully.
They were sending me withdraw into my lost card and I told them to stop because it was blocked and then I sent the Police Report and all legal requirements they asked for. Now, look into your own analysis and all the useless comments you have posted here. If they have very fool proof systems to stop money laundering why they accepted all of these third party payments? I told them by myself and then they silently made changes in the T&C and front end of the website. Go and ask from which you are silently trying to represent and check all my conversations with their accounts team and their CEO.