This Broker has gone from being half decent to NOT TRUSTWORTHY AT ALL
ICMARKETS Price feed for XAU/USD :
XAU/USD on TradingView :
WTF ?
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Hey @A1lenTrader, Use to be my most profitable Broker once a upon a timeā¦Iād get the hell out of IC Marketsā¦ I have a few posts on BP showing some dodgy chart comparisons over the last 12 monthsā¦
Pepperstone (Asic) XAUUSD 1 Hour (Below)
IC Markets (Asic) XAUUSD 1 Hour (Below)
IC have had a nice Stop (Liquidity) Hunt, obviously in the knowledge that price is about to move up over the next 24 - 48 Hoursā¦
Check what Regulation your account is underā¦ ASIC, FCAā¦ SeychellesFCAā¦
Its under ASIC, I switched to them from pepperstone when they cut the leverage.
To top it all off I work self employed and cant go to work now because of the lockdown and the government are just taking the pi$$.
Not a good day for me today,
Iām not saying ICM is not shady but that gold spike has been seen on every broker I trade or demo with. So itās a ārealā thing. However whether it was āfat fingersā or a malicious effort to wipe the slate clean before moving price to another levelā¦
were you in a trade at the time?
I had the same problem
Got a big loss due to this crazy spike on gold yesterday:
Please note that on 26.03.2020 at 07:23 UTC we experienced an issue with off-market pricing and execution on all Gold symbols.
Kindly note that in accordance with section 3.1(j) of our Account terms āif errors have occurred in the pricing of Transactions quoted by us to the Client, we may choose not to be bound by such Transactions (without further liability to the Client) if we believe that there was a Manifest Error at the time of the Transaction;ā
Further to the above and in accordance with section 12.6 (d) of our Account Terms, we will treat any trades that were opened on Gold symbols during the aforementioned time as void.
Please be informed that any Profits / Losses you may have gained/suffered as a result of those trades will be considered as void and your balance will be adjusted accordingly.
So not sure if they will revert my account to what it was before this spike or is just they saying, good luck we wonāt do anything.
Any thoughts?
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@msacchifx, my thoughts on this fracasā¦
Please Noteā¦ Our liquidity provider, who at the time was supplying fictitious off market pricing levels decided to spike the Gold Symbols in the opposite direction to which the market had started to move, and by running price all the way down to a nearly perfect 1500 levelā¦ we were able to garnish a large percentage of traders stops, most of who have open long positions in this volatile environment
Kindly Noteā¦ That if we can get away with this we willā¦ but it will depend on if anyone contacts ASIC and they act on itā¦ and we are very confident that they are tied up elsewhereā¦ Or if our client base kicks up enough of a fuss that we will feel compelled to adjust selected account balances or just take the money for an easy win in these difficult timesā¦
IC Markets lost the plot middle of 2019ā¦ stay right awayā¦
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same problem, any updates on the situation or action you are taking ?
So this is what they replied to me today:
Claire Celine P. (IC Markets)
Mar 27, 23:36 EET
Dear,
Thank you for reaching out to us regarding the off-market pricing on Gold instruments.
IC Markets aim is to treat all clients in a fair and transparent way. Due to the off market price we received from our Liquidity providers at that moment, any profits / losses you may have gained/suffered as a result of those trades are not legit.
Please be informed that balance adjustment will take place in the next few following business days based on the legit market price.
Your patience is highly appreciated.
Feel free to contact us, should you have further inquires after the adjustment.
Kind Regards,
So, letās see if they will return the money. I wonāt hold my breath thatās for sure.
Nothing shady here for me. Just crazy spreads and price dumps caused by all the chaos going on. It doesnāt help when the world 2nd biggest gold holder has to work from home!
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I had this case when I bought gold and they paid me back, while the money was very small. Although, itās a bit long, but I understand because everything is delayed due to the Chinese virus
was also in a long position when this happened with IC ā¦ they refunded the money lost by this āunrealā spike ā¦ āproblem with data feed of liquidity providerā was the answerā¦ my first problem for years with them but was solved really quickā¦
I notice that on ICMarketsā MT5 the spike was not shown, only on MT4. Both were ECN Account. Does this means MT5 is better?