ICMarkets took my money illegally

[Pipsteroid]

@Trendswithbenefits

I’ve used ICM (ASIC)] for 7 years and never had a problem…

Do you live in Australia, @trendswithbenefits?

From what you’ve said, I’m guessing that you do, and if you do, then you’re protected by ASIC and that’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 IC’s accounts are NOT properly regulated. IC claims on its website to be regulated by ASIC but if you don’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 “be right” (you can’t do both: they’re mutually exclusive behaviors!), here are threads that may interest and/or help you …

Choosing broker

no many are “regulated” by fake regulators paid for by the brokers they regulate it matters WHERE and BY WHOM they’re regulated for example, being “regulated” in Vanuatu or the Caribbean island countries is the same as being unregulated, in all the ways that matter to the customer they’re kind of irrelevant, compared to the regulatory issue - the relative significance.importance of the rest is about 1% where regulation is 99%

Finding scam brokers

only if they’re brokers who have chosen to be “regulated” somewhere like Vanuatu or the Seychelles or St. Vincent, where there isn’t any proper regulation and the customers aren’t protected at all this is why it’s SO important to use only brokers who are regulated by ASIC, FCA or CFTC, so that they can’t mess with your funds easily it’s not about being “regulated”, in other words - it matters where and by whom they’re regulated but as long as people think it’s a clever idea to be “going offs…

tl;dr version: it’s not about where the broker’s regulated - it’s about where YOUR ACCOUNT is regulated.