IC Markets Review

[Nick]

IC Markets is one of the preferred brokers we work with. They're based here in my home town of Sydney, Australia and are fully regulated by ASIC.

I have a number of personal accounts with at their brokerage and find them to be particularly good when trading a signal that requires low spreads (like FX Viper).

If you have any questions about IC Markets you can contact our account manager directly:

Angus Walker
Head of Trading Desk
1300 600 644
partners@icmarkets.com.au

IC Markets is also part of our VIP program. To join the VIP club all you need to do is open an account and deposit over $20k with them using our referral link We then give you free, unlimited access to any of our traders for life

[Mariusz K.]

Hi guys,
I'm with IC Market since December of 2012 so for one year and I'm moving far away from them to another broker; I feel I need to WARN all of you, guys. For all the the months I got dozens of trades with slippage between 3-30pips ! Staying with them only as I was scary to loose smoothness of my independent account verification; now I know what to do so....
Definitely IC got one of the tightest spreads and for sure you can get positive spreads: 1-3 pips V 5-15 pips on average !
I was trying to get refunds few times - always the same answer: you need to be aware of wider spread if you trade the news.....I'm not trading the news at all (!); how to avoid the news if you 're not a scalper (I'm swing trader, av. position takes 1-2 days) ?
On 22nd of May as I guess their server was down for 2,3 hours: no emergency phone or live chat was on....before that I set pending order and during the disconnection it triggered; once they fixed that my trade was well in profit (later it hit target) so no chance to jump on it. When I asked for full refund :" As per our last email we don’t reimburse clients for missed trade opportunities."
Guys this not my imagination - for the above I have clear prove: screenshots and statements published over MyFxBook with mentioned big slippages.
If anyone, including IC Market representative, wonna talk about it - I would be very happy to put my effort to dig into statements to find the above to WARN everybody to stay away from the broker.
Mariusz Krzyzelewski
FxPriceActionSignals.com

[Nick]

Hi guys,
I'm with IC Market since December of 2012 so for one year and I'm moving far away from them to another broker; I feel I need to WARN all of you, guys. For all the the months I got dozens of trades with slippage between 3-30pips ! Staying with them only as I was scary to loose smoothness of my independent account verification; now I know what to do so....
Definitely IC got one of the tightest spreads and for sure you can get positive spreads: 1-3 pips V 5-15 pips on average !
I was trying to get refunds few times - always the same answer: you need to be aware of wider spread if you trade the news.....I'm not trading the news at all (!); how to avoid the news if you 're not a scalper (I'm swing trader, av. position takes 1-2 days) ?
On 22nd of May as I guess their server was down for 2,3 hours: no emergency phone or live chat was on....before that I set pending order and during the disconnection it triggered; once they fixed that my trade was well in profit (later it hit target) so no chance to jump on it. When I asked for full refund :" As per our last email we don’t reimburse clients for missed trade opportunities."
Guys this not my imagination - for the above I have clear prove: screenshots and statements published over MyFxBook with mentioned big slippages.
If anyone, including IC Market representative, wonna talk about it - I would be very happy to put my effort to dig into statements to find the above to WARN everybody to stay away from the broker.
Mariusz Krzyzelewski
FxPriceActionSignals.com

Hi Mariusz,

As you know, I'm a pretty big fan of IC Markets. I haven't personally had the issues that you have experienced, however it's not overly surprising.

I believe the reason they have such low spreads is because they run on a thin margin. Their spreads are the lowest of any regulated broker in the market.

So you need to ask yourself why they can offer such attractive terms?

There is always a trade off, and in the case of IC Markets you may occasionally have server outages (however they have more than doubled their server power since the issues you experienced in May.)

99.9% of the time you will get excellent execution and extremely tight spreads.

[Mariusz K.]

Nick,
No, I didn't know you're a big fun of the broker, so please don't take it personally
The big disconnection happened one time over one year I've been trading with them - this is not bad ratio at all but my concern is about IC Market reaction to their evident failure; if my profitable trade wasn't executed by the above, no chance to set the trade by emergency call or live chat and finally they say: ...no refund for missed trades... despite I sent clear prove what happened !? This is very unethical.
I must say you pointed very well why they have such low spreads (no doubts) - something for something, isn't it(?)
And nothing wrong about it but if it happens few times a month for whole year and we don't say about 1-2 pips slippage, there is something wrong, indeed and absolutely not acceptable.
Nick, maybe the reason you didn't experienced what I did is size of your account(?); I'm running 3 accounts with them; two of them are quite small of about $2500-4500 and I noticed that the two ones have much smaller slippages then my main account has
Sincerely, Mariusz

[Mariusz K.]

Nick, are you really from Sydney ??? If "yes" we have more to talk each other then just trading.....
Mariusz
P.S. I can not send it through private message(?)

[Nick]

Nick,
No, I didn't know you're a big fun of the broker, so please don't take it personally
The big disconnection happened one time over one year I've been trading with them - this is not bad ratio at all but my concern is about IC Market reaction to their evident failure; if my profitable trade wasn't executed by the above, no chance to set the trade by emergency call or live chat and finally they say: ...no refund for missed trades... despite I sent clear prove what happened !? This is very unethical.
I must say you pointed very well why they have such low spreads (no doubts) - something for something, isn't it(?)
And nothing wrong about it but if it happens few times a month for whole year and we don't say about 1-2 pips slippage, there is something wrong, indeed and absolutely not acceptable.
Nick, maybe the reason you didn't experienced what I did is size of your account(?); I'm running 3 accounts with them; two of them are quite small of about $2500-4500 and I noticed that the two ones have much smaller slippages then my main account has
Sincerely, Mariusz

Hi Mauriusz,

I can't really comment on your situation. It sounds like you've had some major issues, so I can understand you being frustrated.

The size of the accounts makes no difference. We have members with $100k+ accounts on IC Markets and they get the same execution as my $5k and $10k accounts.

I've been trading with them for about 18 months and have 15 different accounts trading a variety of different strategies. I've been nothing but happy with their service and trading conditions, that's why I recommend them.

[pearcey2]

Hi guys,

I'm with the Think Huge IB at IC Markets and was receiving the $5.50 discounted commission. I checked today and I'm now paying $7 commission per round trip. I emailed IC Markets asking what's happened and they said there was a migration of the Think Huge IB that my account was not included in (whatever "migration" means in this context I have no idea).

So check your commission if you're with the Think Huge IB at IC Markets (and possibly other brokers as well) and check you're still receiving the discount

Sent from my Nexus 5 using Tapatalk

[Nick]

Hi guys,

I'm with the Think Huge IB at IC Markets and was receiving the $5.50 discounted commission. I checked today and I'm now paying $7 commission per round trip. I emailed IC Markets asking what's happened and they said there was a migration of the Think Huge IB that my account was not included in (whatever "migration" means in this context I have no idea).

So check your commission if you're with the Think Huge IB at IC Markets (and possibly other brokers as well) and check you're still receiving the discount

Sent from my Nexus 5 using Tapatalk

Hi Pearcey,

Have they now applied the discount to your account?

There was a screw up internally with their systems about a week ago which resulted in everyone on our profile being reset. I asked them to apply the discount to everyone that I could remember was eligible, however it sounds like I missed a couple.

Just let me know if it's not been fixed and I'll shoot them an email.

Thanks

Nick

[thesteelsnake]

Hi Pearcey,

Have they now applied the discount to your account?

There was a screw up internally with their systems about a week ago which resulted in everyone on our profile being reset. I asked them to apply the discount to everyone that I could remember was eligible, however it sounds like I missed a couple.

Just let me know if it's not been fixed and I'll shoot them an email.

Thanks

Nick

Hi Nick, I'm currently on $6 commission... I think its probably a carry-over from a previous IB I had with ICM. If you want to reset me to $5.50 thats even better!
cheers
TSS

[pearcey2]

They said it'll change over at the end of the trading day because I have trades open

Sent from my Nexus 5 using Tapatalk

[timo]

Do they require your account to be flat to make the change pearcey2?

Or just market closed?

I was thinking of moving IB to ThinkHuge, but I don't see a few of the baskets closing any time soon, so I won't be able to go flat for a loooooong time

[pearcey2]

They said they would connect my ib when the market closes at midnight

Sent from my Nexus 5 using Tapatalk

[williale2]

I have never known a brokers feed freeze at major news so much. They are meant to be at the better end of whats available out there but this is far from my experience with them. Have others noticed this?

[wolfieliu]

I have noticed the same, cannot close trades during yesterday's euro news session, constantly geting off quotes, had to watch price go the other way but couldn't do anything... A few people in the trading room are saying they got disconnected too. very disappointed.

Aren't they supposed to be 'true ECN'?

Not sure what happened there but they are going to loose customers if they don't get it sorted..

[timo]

Get on chat with them, or contact your IB / account manager.

I've already put in a complaint about it.

They can't keep blaming the LPs, because they share LPs with all the other top brokers and they seem to be just fine during these news events.

We're hardly hearing any complaints from GP, Axi customers recently. So it stands to reason that ICM are manipulating their feed somehow to try and dissuade us from trading before, during and after news. I just wish they would come out and say it is their policy like LMAX did, so at least we'd know what to expect.