ICMarkets took my money illegally

I donā€™t think waiting 2 days for a withdrawal to appear in your account would be unusual. The broker is not a bank. They are required to check that they are not being used to launder money. Their checks will be especially thorough if there is unusual activity on the account - for example withdrawing deposited funds a very short period of time after they were deposited. The checks should be done in a week.

First, ICMarkets promise all Withdrawal requests will be processes within 24 hours.

Second, thatā€™s my money and itā€™s been stayed in my account for at least a month with a lot of trading before itā€™s illegally taken from me & then credited back in.

Whatā€™s there to check?

Donā€™t forget the person who is in charge of the approve/disapprove withdrawal request is also the one Iā€™m reporting for the crime. I have found a way to reach their Compliance and will keep pushing. Iā€™m also collecting evidence to report this to the FSA, Scamwatch, etc.

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Report this to the regulators but please post here what their response is.

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By the way, ICM regulators have changed! All the good ones left them

Icmarket refused to pay money. They just Playing with me. I am not stupid. I have been trying to withdraw my money they close all options from me because not withdraw money.

I have evidence for everything. They said you have withdrawn money on card you deposited and I deposited my money on trustpayment.
I contacted again I told isnā€™t I canā€™t they didnā€™t tell they removed after long conversation they told me trust is not available although is their duty to inform clients all the news.

I contacted them again they told me I they send the problem to one of their experts. They send massage which was ,solution was solvedā€™ā€™ they didnā€™t solved anything. I donā€™t they send to me that.

I contacted again

They said try different card and they send different options. Nothing is worked for me.
I contacted again
They told me use Visa Direct
I said ok. I couldnā€™t save my card and they did not accept card.

I contacted again
They just playing with me. They donā€™t help me. They removed trustpayment for a reason.

I will not accept that I want my money. I lost trust for ICmarket.

I will review on their pape and show to the world what is going on ICmarket and I will put on my YouTube which I have almost 1 million flowers.

I want get back my money I am gonna beg you for what I own. Stop misleading me please.
The client I have talked to with is unprofessional.

They are basically scammers. :cry:

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A common reason why a broker will not return money which a client has deposited is because the client cannot prove it was their money in the first place.

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No bro. I have been trading ICmarket almost 3 years. I became a profitable trader then they switched it they remove trustpayment from my account. I have evidence for everything. And I will show to the world

@tommor Is correctā€¦ With Global Money Laundering laws really starting to have teethā€¦ Brokers (All Financial Institutionsā€¦) are very wary of refunding deposits without proper due diligenceā€¦

Rubbishā€¦ Iā€™ve used ICM (ASIC) for 7 years and never had a problemā€¦ Only a handful in this forum ever bothers to read their Tā€™s and Cā€™s before they open an account with a retail brokerā€¦

Most have no idea where their Broker is based or who their Broker is regulated byā€¦ They canā€™t deposit their money fast enoughā€¦

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Serious Market participants are fully aware that IC Markets plays the gameā€¦ With multiple regulators across various regionsā€¦ Cypress (CySec) for European Tradersā€¦ ASIC for Australian Traders and Seychelles (FSA) Regulation for ALL other traders outside of these regionsā€¦

CySec and FSA regulation is based in Nations where Financial Regulation is the wild west at bestā€¦

So please before rushing into the market of premature speculationā€¦ Always check all the details including regulation of your Broker before depositing funds any which wayā€¦

Note: Most Australian based Retail Brokerages are geared heavily toward the Asian Clientele Marketā€¦ Due to the huge numbers in the expandingly prosperous Asian Region and their propensity to gamble heavilyā€¦

It is not for the broker to prove that the money was not your money, it is for you to prove that it was.

This means you must also be able to prove that it was you who deposited the money, not someone else - again, it is not for the broker to prove that it was not you, it is for you to prove that it was.

Do you live in Australia, @trendswithbenefits?

From what youā€™ve said, Iā€™m guessing that you do, and if you do, then youā€™re protected by ASIC and thatā€™s the point.

The point some are perhaps missing is that IC runs multiple different companies. This is a common brokerage scam designed to protect the broker against the customer, not the other way round.

Most of ICā€™s accounts are NOT properly regulated. IC claims on its website to be regulated by ASIC but if you donā€™t live in Australia, any IC account you have will not be ASIC-regulated.

For anyone who actually wants to learn something, rather than just struggling to try to ā€œbe rightā€ (you canā€™t do both: theyā€™re mutually exclusive behaviors!), here are threads that may interest and/or help you ā€¦

tl;dr version: itā€™s not about where the brokerā€™s regulated - itā€™s about where YOUR ACCOUNT is regulated.

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@Pipsteroid Okā€¦ So do we agree with your opinionā€¦ Or real world dataā€¦

97% above 4 starsā€¦ 35,000 Reviewsā€¦ Globallyā€¦ Enough saidā€¦

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I think we all know itā€™s easy to plant good reviews on Trustpilot, and not difficult to get bad ones removed, either.

I notice you didnā€™t answer Pipsteroidā€™s question, @trendswithbenefits. Iā€™m guessing you do live in Australia, then? So your account is ASIC regulated? Rather confirms what Pipsteroidā€™s saying?

Thanks for stressing thatā€¦ Itā€™s what people actually need to know.

35,000 is a good sample size for Trustpilotā€¦ No matter what BS you wish to believeā€¦

Only a handful in this forum ever bothers to read their Tā€™s and Cā€™s before they open an account with a retail brokerā€¦

Most have no idea where their Broker is based or who their Broker is regulated byā€¦ They canā€™t deposit their money fast enoughā€¦

Australiaā€¦ Yesā€¦

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ā€œAnother reason why forex trading is not legal in Vietnam is that the SBV is concerned about the potential for scams and fraud. There have been many cases of forex scams in Vietnam, and the SBV does not want to allow a market that could be used to take advantage of peopleā€¦ā€

ā€œDespite the fact that forex trading is not legal in Vietnam, many people in the country still trade forex. There are a number of international forex brokers that accept Vietnamese clients, and there is a growing community of forex traders in Vietnamā€¦ā€

Here are some additional things to keep in mind if you are considering trading forex in Vietnam:

The SBV does not protect forex traders against losses. If you lose money trading forex, you will not be able to get your money backā€¦

There are a number of scams and frauds related to forex trading in Vietnam. Be careful about who you trust and what you invest inā€¦

It is important to find a reputable forex broker that accepts Vietnamese clients. Not all brokers are created equal, and some may be more likely to engage in scams or fraudā€¦

Maybe the fact that FX is illegal in Vietnam has ICM questioning deposit originā€¦

Global Banks are shy of sending deposits to countries such as Vietnam, Pakistan and many countries in the middle east because of loose Financial Regulationā€¦

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  1. Open a complaint thread in this forum with complete details and some supporting screenshots/documents : https://www.forexpeacearmy.com/community/categories/commerce-zone-services-offers-news-discussions.124/. => Lot of peoples issues has been resolved. Brokers are highly active in ForexPeaceArmy dispute section.

  2. Write a detailed review about ICMarkets, How they trying to scam you in IC Markets Reviews | Read Customer Service Reviews of icmarkets.com and https://www.forexpeacearmy.com/forex-reviews => Legitimate brokers, always response and try to solve if they find any negative review about them.

If above two method did not work, than follow this two.

  1. File a complaint in ASIC How to complain - Moneysmart.gov.au

  2. File a complaint in your local judiciary and forward the copy of the complaint to ICMarkets.

Yes, completely agree with both these good and important points.

Thatā€™s one (two?!) of the reasons why itā€™s so hard to help people here. Nobodyā€™s really interested until itā€™s too late.

You know your way around and obviously understand, really, why that means that you having had no problem for 7 years isnā€™t actually relevant to those who donā€™t live there - you are protected by ASIC but theyā€™re not. So they get scammed but you donā€™t. ā€˜Surprise surpriseā€™. (Thatā€™s how I knew from your post that you live in Australia, obviously enough!!).

Lol, talk about ā€œmissing the pointā€!! :sweat_smile:

This information is outdated. On there official website, they no where mentioned they are regulated from ASIC. In past, ICMarkets had regulation from ASIC but currently they are only regulated from Seychelles (FSA)

@shanmugapradeep Itā€™s not outdatedā€¦ Maybe they can see your IP Address when you access their website outside of Australiaā€¦

My site is ASIC Regulatedā€¦

@Pipsteroid Donā€™t believe that ASIC is any help in a real issue with a Brokerā€¦ ASIC views Australian CFD Traders as Sophisticated Investorsā€¦ Meaning, you knew the risksā€¦ Youā€™re on your ownā€¦

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This is correct. @shanmugapradeep is looking from an Indian IP number and therefore seeing a different page.

As shown in a very large number of other threads, he is one of the many people here whom itā€™s terribly difficult to help! :neutral_face:

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