IC Markets - public statements vs individual traders - Page 3
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Thread: IC Markets - public statements vs individual traders

  1. #21
    Quote Originally Posted by ;
    quote WTF did they need to lower the leverage for so LONG???!!! WHY stretch it through Friday and Monday LONG following the press conference??!! And reduce it to 100:1 for ALL pairs??? What's USD/CAD got anything to do with what is happening in europe??? The only chance we can have a little bit of movement and make some cash and they kill it. *Sigh* What am I going to do with 100:1 leverage, I can only exchange just ONE lot. It is only an ECB press conference for chrissake!! We've exchanged through several ECB press conferences, Fed statements fine, what...
    And this is REALLY punishing the traders who still has little of funds to exchange. The traders who have the negative balance won't be able to trade anyway. The traders that continue to be able to exchange now have their hands tied behind their back now and unable to ride the waves and also earn a little bit of cash. I can understand them wanting to reduce the leverage throughout the news time. However, WHY after and all the way until Monday??!! The majority of the poor bad volatility would've been gone 2 hours following the announcement nicely of course that's gonna depend on when people f***ing s*** liquidity stoppers opt to come back to continue quoting.

  2. #22
    HungryHound

    The dilemma is that a broker or liquidity suppliers may have two pips spread and following second 3,000 pips spread.
    Regulators (NFA, FCA, ASIC...) have to do something about this issue.

  3. #23
    Quote Originally Posted by ;
    HungryHound The dilemma is that a broker or liquidity providers may have two pips spread and next second 3,000 pips spread. Regulators ( NFA, FCA, ASIC...) must do something about this issue.
    Yes its true, I have utilized ic markets for a little while and I have a disperse indior on my mt4 that shows me the current spread..and its constantly changing..there are certain pairs that change from 3-9 disperse eratically sometimes.

  4. #24
    Quote Originally Posted by ;
    quote No, you are wrong.You suppose, but the reality is that. picture If you can prove the contrary, the IC is good for payment. A lot of cash, not merely the money you lost.
    How about exchange 1 USD into 0.06 CHF rather 0.85 CHF, wow I should be rich, IC too =-RRB-)

  5. #25
    Quote Originally Posted by ;
    1. Reinstate account balances 2. Write off negative accounts. Go after LPs those are what ICM must do today to re-gain their standing
    Yet nothing as of Wednesday despite the assurance that my position would be looked at tomorrow (for the second time). And I am not even minding my unanswered query from two weeks ago right after the SNB decision.

  6. #26
    Quote Originally Posted by ;
    HungryHound The problem is that a broker or liquidity providers may have 2 pips spread and following second 3,000 pips spread. Regulators ( NFA, FCA, ASIC...) must do something about this problem.
    What can regulators do if a major international bank makes abrupt changes in their coverage and market falls 30-40% in a minute? There is nothing regulators. Traders and brokers must be prepared for these occasions, how distant the possibilities might be.

  7. #27
    Quote Originally Posted by ;
    quote Still nothing as of Wednesday despite the assurance that my position would be looked at tomorrow (for the next time). And I am not even counting my unanswered query from two weeks back shortly after the SNB conclusion.
    I'm in exactly the same position. Assured that it was being looked at by their own mind trader, and given a deadline that has now passed.
    Also my inquiries are going unanswered. No response to emails asking for clarifiion.

    Didnt understand if they are swamped with work or have only playing for time. Very bad customer support in my view.

  8. #28
    Tim_isoara how much do they pay you? They manipulate prices and its own a robbery.

    I presented my fees on FOS and ASIC already.

    Not even the 200 euros remaining on my account (after losing more then 3k) they let me cashouta lot of thieves.

  9. #29
    Quote Originally Posted by ;
    quote I am in the exact same position. Assured that it had been looked at by their own mind trader, and given a deadline that has passed. My inquiries are going unanswered. No response to emails asking for clarifiion. Dont know if they are swamped with work or possess playing for time. Very poor customer support in my view.
    My money would be on playing for time. I hope you've established your criticism to ASIC and FOS by now as I told you last week. By this time, they are NOT spitting out the cash. You have to collect it from them now.

    Good luck!

  10. #30
    Quote Originally Posted by ;
    quote What can regulators do if a major global bank makes abrupt changes in their coverage and market drops 30-40% in an instant? There is nothing regulators. Traders and brokers have to be ready for these events, how remote the chances may be.
    This is NOT about market drops 30-40% in an instant. This is about IC Markets adding another 70% on top of the 30% - 40% drop based on unfounded price just so they could extract more cash from their clientele. This is securities fraud. And there's absolutely no prep for it. You just simply report it to the regulators to allow them to explore it. Perhaps it's their liquidity suppliers that is insisting on revising the trades with off-the-market prices and IC Markets is just passing them on the clients, maybe it's IC Markets themselves that is greedy needing to earn a significant profit on the spread or maybe both. Nonetheless, it's up to the regulators to investigate and find out and fix it now.

    IC Markets continues to be given ample opportunities to mend it they haven't done it because they are not prepared to or not able to, another thing for the regulators to discover.

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