Today i got this email from my broker Icmarket please see it first.
its screenshot from the Email
i would like to know did anybody got scammed from this Broker IC Market?
cann he really take the Balance away because of Stremed wrong prices ?
and what should i do now to get the Money?
you can go to the regulator, but if it really was a manifest pricing error, it probably won’t be an easy argument to win
you may be able to get some kind of ex gratia compensation, even if so
was it, or should it have been, “manifest”, to you? were you perhaps very surprised to find over $120,000 more than you expected, in your account? was that a very unusual profit, in your account? these are the key, relevant questions the regulators will ask themselves … good luck, anyway
obviously you need to go to the regulator first (and that’s what a lawyer will tell you, or they’ll charge you to do that for you), but it sounds from what you say that the regulator will probably determine that you were trying to exploit a manifest pricing error … which is probably true, really? you must surely have known something was wrong?
Oh, that’s quite surprising. It’s concerning that even with four regulations, they are still able to scam people. It seems that relying solely on regulations may not be enough these days. Personally, I value the opinions of real people on forums and social media more than fake ratings and reviews. It’s important to do our own research and make informed decisions when choosing a broker, at the same time I can offer you to go to regulator.
Same case with me. Though I was only able to go from $100 to $5,000 in about 20 minutes. The price just kept fluctuating between 4-5 pip range for almost 2 hours.
It was indeed a manifest price streaming issue and as stated in their terms and conditions agreement, they are entitled to reverse such transactions.
I don’t think that any lawyer will be of any help in this case. I for one knew in the back of my head that what happened was very unreal (too good to be true) for sure they will reverse those transactions sooner or later and eventually they did.
I hope he can provide more information about this as it’s not just about this particular broker, but rather a trend that is happening in the forex industry regardless of personal preferences.