To use chat, please login.
Back to contacts

IC Markets

Oct 10, 2013 at 18:07
14,448 Views
237 Replies
Biedrs kopš   86 ieraksti
Apr 15, 2014 at 13:31
BluePanther posted:
I experienced major slippage or something (loss of connection) when the ZEW Survey - Economic Sentiment (major impact news) occurred.

I have not really noticed anything seriously adversely affect my IC Markets account since joining them in late-2013 (except the 200 market orders limit), but this was a bit of a surprise to say the least.

I certainly hope this does not happen again, but I need to ask:
a) why did this happen? (specific reason, not a general 'latency / slippage' answer)
b) will this be likely to reoccur in future?

It is concerning because my HFT account went from a 1.5%+ gain today to a loss of 1.5%. I am into trading to make money, not lose money, and I can't afford to have this issue reoccur too often (if at all).

If it was major slippage this is to be expected on major impact news......we all know this occurs on a broker that genuinely passes your orders to market. A lot of LP's are simply not interested during high impact news events, hence the thin liquidity resulting in poor fills and major slippage that can be experienced at these times.

However.........a disconnection or outage is another story.

Check your mt4 logs around the time of the news event you mentioned and look for extended disconnections or outages.
Check your trade logs around the time of the news event and look for anything out of the ordinary (poor fills and slippage excepted and expected at news times). If you feel you have a valid claim copy the logs into an email to support and request the trade or occurrence be investigated.
Highest Forex broker rebates:
Biedrs kopš   86 ieraksti
Apr 15, 2014 at 13:34
Humpenjang posted:


I have not really noticed anything seriously adversely affect my IC Markets account since joining them in late-2013 (except the 200 market orders limit), but this was a bit of a surprise to say the least.


I contacted the support a couple of days back, prior to open an account, they confirmed there will be no limitation on open trades.
 
Here a statement from there FAQ section.

'Is there a limit to the number of open positions that I can have open at any one time?

No, you can have open as many positions as you like at the same time.'

Should there be a limitation, I'm as quickly off, than I joined them.

As soon the funds are on the account I let you know.

IC Markets was one of the few brokers (apart from brokers offering cent accounts) that was/is used for Forex Envy that can have well in excess of 100 open positions. Your account will be fine 😉
Highest Forex broker rebates:
Apr 15, 2014 at 16:16
jonpearce posted:

However.........a disconnection or outage is another story.

Check your mt4 logs around the time of the news event you mentioned and look for extended disconnections or outages.
Check your trade logs around the time of the news event and look for anything out of the ordinary (poor fills and slippage excepted and expected at news times). If you feel you have a valid claim copy the logs into an email to support and request the trade or occurrence be investigated.

Yes, actually it seems to be a common occurrence with the signal I am subscribed to. I don't understand it, but on a frequent basis I can see that my account loses connection with the subscription service, and then resumes connection within a minute or so. Is this commonplace for a signal from www.mql5.com?

I have sent support the log for today showing this issue, and I hope they will get back to me with an answer tomorrow.
Apr 15, 2014 at 16:18 (labots Apr 15, 2014 at 16:22)
Humpenjang posted:

I contacted the support a couple of days back, prior to open an account, they confirmed there will be no limitation on open trades.
 
Here a statement from there FAQ section.

'Is there a limit to the number of open positions that I can have open at any one time?

No, you can have open as many positions as you like at the same time.'

Should there be a limitation, I'm as quickly off, than I joined them.

As soon the funds are on the account I let you know.

I am glad to hear they seem to have changed their attitude to the maximum open orders limit. I enquired earlier this year about my demo account (which at the time had over 600 open trades) and I asked them why they permitted this. Angus (IC Markets) responded that they 'make exceptions', but from what you say perhaps they now permit this... the question then remains: what is the new maximum limit on open orders?
Apr 15, 2014 at 16:57 (labots Apr 15, 2014 at 17:10)
I guess I shouldn't really worry about IC Markets:

https://www.mt4i.com/spread/symbol.aspx?symbolid=1

Seems to be the best, but there is ALWAYS room for improvement. Now where did I hear about negative spreads...? Oh yeah, IC Markets cTrader accounts can have -0.3 pip spread. Now I just need to find a HFT expert advisor that will scalp me to riches! Any suggestions (I'm serious!)? 😎
Biedrs kopš   4862 ieraksti
Apr 15, 2014 at 17:34
BluePanther posted:
I guess I shouldn't really worry about IC Markets:

https://www.mt4i.com/spread/symbol.aspx?symbolid=1

Seems to be the best, but there is ALWAYS room for improvement. Now where did I hear about negative spreads...? Oh yeah, IC Markets cTrader accounts can have -0.3 pip spread. Now I just need to find a HFT expert advisor that will scalp me to riches! Any suggestions (I'm serious!)? 😎

How does negative spread works?

You pay commission per trade and got negative spread?
Apr 15, 2014 at 17:37 (labots Apr 15, 2014 at 17:43)
togr posted:
BluePanther posted:
I guess I shouldn't really worry about IC Markets:

https://www.mt4i.com/spread/symbol.aspx?symbolid=1

Seems to be the best, but there is ALWAYS room for improvement. Now where did I hear about negative spreads...? Oh yeah, IC Markets cTrader accounts can have -0.3 pip spread. Now I just need to find a HFT expert advisor that will scalp me to riches! Any suggestions (I'm serious!)? 😎

How does negative spread works?

You pay commission per trade and got negative spread?

I haven't experienced this before. I just read on IC Markets homepage that negative spread of up to -0.3 pips are available on cTrader, but I only use MT4.

Basically, you can buy and promptly sell (at the same price) and immediately gain a profit simply from the spread.
Biedrs kopš   4862 ieraksti
Apr 15, 2014 at 17:44
BluePanther posted:
togr posted:
BluePanther posted:
I guess I shouldn't really worry about IC Markets:

https://www.mt4i.com/spread/symbol.aspx?symbolid=1

Seems to be the best, but there is ALWAYS room for improvement. Now where did I hear about negative spreads...? Oh yeah, IC Markets cTrader accounts can have -0.3 pip spread. Now I just need to find a HFT expert advisor that will scalp me to riches! Any suggestions (I'm serious!)? 😎

How does negative spread works?

You pay commission per trade and got negative spread?

I haven't experienced this before. I just read on IC Markets homepage that negative spread of up to -0.3 pips are available on cTrader, but I only use MT4.

Basically, you can buy and immediately sell and promptly gain a profit simply from the spread.

They do not know either
First they so no commission and then commission yes


IC Markets Support
Hello Client. How may I help you?

 
Client
https://www.icmarkets…ing-account-types/ctrader-ecn/

negative spread, is there a commission?

 
IC Markets Support
no

 
Client
so I open position which is immediately in profit

and just close it

and repeat

and you pay me the profit

really?

 
IC Markets Support
negative spread is in periods of high volatility.

yes as long as you beat the commission payable

 
Client
so you have commission or not

?

IC Markets Support is typing...





 


 




 
Powered by LiveChat
 










Biedrs kopš   4862 ieraksti
Apr 15, 2014 at 17:45


Client
so you have commission or not

?

 
IC Markets Support
True ECN Account = Variable Spread + $7 per lot round turn commission

just to be clear -

for ctrader accounts when the spread goes into negative - it is as good as 0 pips spread for you

you will staill have the commission costs as described on - https://www.icmarkets…ng/trading-conditions/spreads/ under the heading ' cTrader Commission Rates'

the negative spread is rare and transient ( does not last for long)

 
Client
so again

ctrader

negative spread

is there a commission or not?

yes or not?

IC Markets Support is typing...



IC Markets Support
True ECN Account = Variable Spread + $7 per lot round turn commission

just to be clear -

for ctrader accounts when the spread goes into negative - it is as good as 0 pips spread for you

you will staill have the commission costs as described on - https://www.icmarkets…ng/trading-conditions/spreads/ under the heading ' cTrader Commission Rates'

the negative spread is rare and transient ( does not last for long)

 
Client
so again

ctrader

negative spread

is there a commission or not?

yes or not?

 
IC Markets Support
1) yes as mentioned above - there is a commission

2) yes

choose 1 or 2 which ever answers your question







 


 




 
Powered by LiveChat
 





 


 




 
Powered by LiveChat
 









Apr 15, 2014 at 17:48 (labots Apr 15, 2014 at 17:54)
...so taking commission into account, you are not going to profit simply by buying and selling at the negative spread levels. But it would certainly help make a HFT or scalping EA more profitable. 😄

And after all my research, it seems IC Markets is hard to beat in spreads. Only Boston Prime seem to beat IC Markets by a slim margin! Impressive! 😎
Apr 15, 2014 at 17:58
When it comes to the EURUSD pair even Boston Prime is unable to beat ICM most of the time as MyFXBook will attest; I still have yet to personally encounter a retail/non-institutional broker that offers more competitive spreads with regards to it.

And yes, the cTrader negative spreads may not allow you to turn a profit in and of themselves, but they'll obviously make any system more profitable, especially high frequency scalpers with low per trade pip expectancy. I'm pushing to have my EAs ported over to cTrader's code at the first opportunity.
Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
Apr 15, 2014 at 18:07
Surrealistik posted:
When it comes to the EURUSD pair even Boston Prime is unable to beat ICM most of the time as MyFXBook will attest; I still have yet to personally encounter a retail/non-institutional broker that offers more competitive spreads with regards to it.

So you mean ICM is better than BP most of the time, even though myfxbook shows otherwise?

I take it you are speaking from personal experience. 😉
Apr 15, 2014 at 19:18 (labots Apr 15, 2014 at 19:19)
BluePanther posted:
Surrealistik posted:
When it comes to the EURUSD pair even Boston Prime is unable to beat ICM most of the time as MyFXBook will attest; I still have yet to personally encounter a retail/non-institutional broker that offers more competitive spreads with regards to it.

So you mean ICM is better than BP most of the time, even though myfxbook shows otherwise?

I take it you are speaking from personal experience. 😉

@Surrealistik You aren't confusing Boston Prime with Global Prime are you? (considering your bio mentions GP)
Biedrs kopš   12 ieraksti
Apr 15, 2014 at 19:25
BluePanther posted:
Humpenjang posted:

I contacted the support a couple of days back, prior to open an account, they confirmed there will be no limitation on open trades.
 
Here a statement from there FAQ section.

'Is there a limit to the number of open positions that I can have open at any one time?

No, you can have open as many positions as you like at the same time.'

Should there be a limitation, I'm as quickly off, than I joined them.

As soon the funds are on the account I let you know.

I am glad to hear they seem to have changed their attitude to the maximum open orders limit. I enquired earlier this year about my demo account (which at the time had over 600 open trades) and I asked them why they permitted this. Angus (IC Markets) responded that they 'make exceptions', but from what you say perhaps they now permit this... the question then remains: what is the new maximum limit on open orders?

I would say no limit at all, I had today up to 1300 open orders, on another broker, finally I found out I was logged in twice into my VPS 😁, all went well so far.....
Apr 15, 2014 at 19:33 (labots Apr 15, 2014 at 19:34)
@Humpenjang PMSL! 😎 Another broker, another thread - but which broker BTW?
Apr 15, 2014 at 20:53
BluePanther posted:
Surrealistik posted:
When it comes to the EURUSD pair even Boston Prime is unable to beat ICM most of the time as MyFXBook will attest; I still have yet to personally encounter a retail/non-institutional broker that offers more competitive spreads with regards to it.

So you mean ICM is better than BP most of the time, even though myfxbook shows otherwise?

I take it you are speaking from personal experience. 😉

Most of the time I've seen ICM with better post-commission spreads than BP; occasionally BP offers better spreads, but as a rule, ICM does come out on top with respect to EURUSD in particular. Further, if you factor in IB discounts (which aren't available for BP so far as I'm aware), I've almost never seen BP offer better post-commission spreads. Even as it stands now, with IB discounts factored in, ICM offers a lower overall spread (and if you discount commissions entirely, ICM's spread is always lower).
Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
Biedrs kopš   4862 ieraksti
Apr 16, 2014 at 01:05
BluePanther posted:
...so taking commission into account, you are not going to profit simply by buying and selling at the negative spread levels. But it would certainly help make a HFT or scalping EA more profitable. 😄

And after all my research, it seems IC Markets is hard to beat in spreads. Only Boston Prime seem to beat IC Markets by a slim margin! Impressive! 😎

agreed even cost like 0.4 pip is amazing
Biedrs kopš   86 ieraksti
Apr 16, 2014 at 01:29
BluePanther posted:
jonpearce posted:

However.........a disconnection or outage is another story.

Check your mt4 logs around the time of the news event you mentioned and look for extended disconnections or outages.
Check your trade logs around the time of the news event and look for anything out of the ordinary (poor fills and slippage excepted and expected at news times). If you feel you have a valid claim copy the logs into an email to support and request the trade or occurrence be investigated.

Yes, actually it seems to be a common occurrence with the signal I am subscribed to. I don't understand it, but on a frequent basis I can see that my account loses connection with the subscription service, and then resumes connection within a minute or so. Is this commonplace for a signal from www.mql5.com?

I have sent support the log for today showing this issue, and I hope they will get back to me with an answer tomorrow.

It sounds like an issue with the connection to your mql5 signal provider account. This is a third party that you choose to use and the broker will not take responsibility for issues or losses sustained in this case. The problem is between mt4 and mql5 service not mt4 and the brokers server.
Highest Forex broker rebates:
Biedrs kopš   12 ieraksti
Apr 16, 2014 at 19:12
BluePanther posted:
@Humpenjang PMSL! 😎 Another broker, another thread - but which broker BTW?

That's why I didn't mention. 😁 It's Excel Markets.
Biedrs kopš   12 ieraksti
Apr 16, 2014 at 19:12
So my account got funded today, and I put the EA live on 6 pairs, it took a few hours, and oooohhhh wonder, stucked @200 Trades.

Hereafter the conservation I just had with the live chat.

Hello Humpenjang. How may I help you?

Marc Hi, prior to opening the account, I contacted the support, and they told me there is no max number of trades. The same is stated in you FAQ, currently I'm stuck at 200 Trades.

IC Markets SupportHi just a moment please

200 per account at any given point in time is the max ( including pending orders) . This is a server side limit

Marc Just copied from your FAQ section

Is there a limit to the number of open positions that I can have open at any one time?

No, you can have open as many positions as you like at the same time.

IC Markets Supportunfortunately due to server side changes this had happened
and the entry in the FAQ needs to be corrected ( we will do so)

Marc So that means, I'll try clean up that mess and go packing. Thanks for wasting my time.

IC Markets Supportyou can close all those orders 'now' and we can refund the amount

i.e. if you close them now

Marc Thanks, but I guess I shut them one after one, should be become a small profit at least ;-). Anyway thanks for your help.

IC Markets Supportyou are welcome and apologies for the inconvenience.

if you have a chat transcript for the conversation with support - it would be appreciated if you could forward it to [email protected]

i will request the accounts team to credit 68 EUR to your account during sydney business hours
Topic is locked
*Spams netiks pieļauts, un tā rezultātā var slēgt kontu.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.