They are basically scammers. 
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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 correct… With Global Money Laundering laws really starting to have teeth… Brokers (All Financial Institutions…) are very wary of refunding deposits without proper due diligence…
Rubbish… I’ve used ICM (ASIC) for 7 years and never had a problem… Only a handful in this forum ever bothers to read their T’s and C’s before they open an account with a retail broker…
Most have no idea where their Broker is based or who their Broker is regulated by… They can’t deposit their money fast enough…
Serious Market participants are fully aware that IC Markets plays the game… With multiple regulators across various regions… Cypress (CySec) for European Traders… ASIC for Australian Traders and Seychelles (FSA) Regulation for ALL other traders outside of these regions…
CySec and FSA regulation is based in Nations where Financial Regulation is the wild west at best…
So please before rushing into the market of premature speculation… Always check all the details including regulation of your Broker before depositing funds any which way…
Note: Most Australian based Retail Brokerages are geared heavily toward the Asian Clientele Market… Due to the huge numbers in the expandingly prosperous Asian Region and their propensity to gamble heavily…
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 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 …
tl;dr version: it’s not about where the broker’s regulated - it’s about where YOUR ACCOUNT is regulated.
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@Pipsteroid Ok… So do we agree with your opinion… Or real world data…
97% above 4 stars… 35,000 Reviews… Globally… Enough said…
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I think we all know it’s easy to plant good reviews on Trustpilot, and not difficult to get bad ones removed, either.
I notice you didn’t answer Pipsteroid’s question, @trendswithbenefits. I’m guessing you do live in Australia, then? So your account is ASIC regulated? Rather confirms what Pipsteroid’s saying?
Thanks for stressing that… It’s what people actually need to know.
35,000 is a good sample size for Trustpilot… No matter what BS you wish to believe…
Only a handful in this forum ever bothers to read their T’s and C’s before they open an account with a retail broker…
Most have no idea where their Broker is based or who their Broker is regulated by… They can’t deposit their money fast enough…
Australia… Yes…
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“Another 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 people…”
“Despite 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 Vietnam…”
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 back…
There are a number of scams and frauds related to forex trading in Vietnam. Be careful about who you trust and what you invest in…
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 fraud…
Maybe the fact that FX is illegal in Vietnam has ICM questioning deposit origin…
Global Banks are shy of sending deposits to countries such as Vietnam, Pakistan and many countries in the middle east because of loose Financial Regulation…
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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.
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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.
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File a complaint in ASIC How to complain - Moneysmart.gov.au
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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.
That’s one (two?!) of the reasons why it’s so hard to help people here. Nobody’s really interested until it’s too late.
You know your way around and obviously understand, really, why that means that you having had no problem for 7 years isn’t actually relevant to those who don’t live there - you are protected by ASIC but they’re not. So they get scammed but you don’t. ‘Surprise surprise’. (That’s how I knew from your post that you live in Australia, obviously enough!!).
Lol, talk about “missing the point”!! 
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 It’s not outdated… Maybe they can see your IP Address when you access their website outside of Australia…
My site is ASIC Regulated…
@Pipsteroid Don’t believe that ASIC is any help in a real issue with a Broker… ASIC views Australian CFD Traders as Sophisticated Investors… Meaning, you knew the risks… You’re on your own…
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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 it’s terribly difficult to help! 
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Yes, of-course. they see my IP and GEO.
When checking from India
When checking from Australia (Using VPN)
This means, ICmarkets is only safe for users from Australia not for traders from outside of Australia.
Sorry, i didn’t get your point. What is missing about filing complaint in ASIC.
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Sorry that it’s not clearer.
ASIC does not have the jurisdiction (“right”/“power”/“legal authority”) to investigate complaints from customers of IC who don’t live in Australia, even though IC is ASIC-regulated.
Crooked, scammy brokers like this make a big deal on their websites out of being ASIC-regulated, knowing that customers mostly don’t understand this point.
When I look at IC’s website it tells me they are ASIC-regulated but unlike many of their less experienced customers I know that if I open an account there it will be regulated in the Seychelles, which means unregulated. That is IC’s choice, not mine.
They don’t say so anywhere, but the truth is that they don’t want me opening an ASIC-regulated account with them, because they know that in practice they can’t scam me if my account with them is regulated by ASIC.
So with no disrespect at all to Trendswithbenefits, the fact that someone who lives in Australia has had no problems with IC for 7 years isn’t relevant to people who don’t live in Australia.
Does it make more sense, now?
Does this apply to other brokers like Global Prime and Fusion Market too? Fusion Market does not change regulation details based on the country, but even though Fusion Market shows the same ASIC regulation for Indian customers, Indian customers are still not safe from any ASIC brokers, as ASIC does not consider complaints from outside of Australia.
This fears me lot.
Yes. Can you provide me with a legitimate forex broker from powerful regulatory bodies (e.g., UK FCA, USA CFTC, etc.) which accepts foreign customers and does not change regulation details based on IP/GEO? Additionally, the regulatory body should be able to assist foreign customers with their complaints, if any.
I didn’t say that.
I said that horrible, scammy brokers (like IC) won’t let customers outside Australia open ASIC-regulated accounts. Which they won’t.
Whether ASIC will allow it or not, I don’t know. I haven’t asked them, but you might want to?
I do know, however, that you don’t have to live in the UK, or to be a British citizen, to open an FCA-regulated account, or to use the UK’s Financial Ombudsman service. (Oanda UK is good, and honest.) But you will still need to check the brokers yourself and (very important!) make sure you’re not breaking any Indian law by using one.
When i tried to open a account with ASIC in ICMarkets with Australia VPN (https://www.icmarkets.com.au)
I heard they gives very low leverage.
Of course i want to. Is there any way to contact ASIC customer services or Help desk to ask all these questions? and what your review about Fusion Market & Global Prime. Fusion markets have 3 regulation (Licensing & Regulations | Fusion Markets), is there any way to find my trading account with fusion market is created in which regulation body?