Recently, Info Finance has received numerous complaints from investors regarding the IC Markets brokerage, with a notable case involving an investor who lost all their savings due to fraudulent tactics by IC Markets staff. Through this article, Info Finance aims to expose the deceitful practices of IC Markets and alert the investor community about the risks of trading on this platform.

"Trading Expert" and the loss-making trades

An investor (the victim) filed a complaint with Info Finance, accusing an IC Markets staff member named Thu Thủy of repeatedly enticing them to invest in this platform with promises of attractive profits. They claimed that IC Markets had its headquarters in the UK and branches in Southeast Asia, but upon verification, the investor found that the platform had no branches in Vietnam.

To build trust, Thu Thủy allowed the investor to withdraw a small amount of around 2 million VND. Afterwards, they encouraged the investor to keep the remaining funds for investment, promising that withdrawals could be made every three months. This reassurance made the investor feel secure and they continued to deposit more money into their account.

After the investor deposited funds, Thu Thủy introduced someone called "Thành kỹ thuật" - described as a trading expert. On October 19th, after successfully funding the account, this "expert" guided the investor on trades. Initially, they provided a few winning trades, especially in gold (XAUUSD), boosting the account to about $23,000 within 10 days. However, many other trades resulted in significant losses.

When the investor traded independently, they were warned not to make decisions on their own but to follow the "expert's" instructions. The investor's self-directed trades were often profitable, while the "expert's" trades led to substantial losses. When the investor complained about the account being in the red, they were told it was only a "temporary loss" and would be rectified the following week. However, these promises were never fulfilled.

IC Markets imposes several hidden fees, including overnight fees and high commissions. The investor, having no prior experience in this market and only relying on the explanations provided by the staff, was deceived by what appeared to be trustworthy but were actually fraudulent claims.

At the end of October, the investor was repeatedly instructed to make rapid trades in platinum, gold, EUR, and other instruments with large quantities up to 1 LOT. This caused the account to move from a state of temporary loss to a complete wipeout, with all funds transferred to the transaction history.

After the account was wiped out, the investor was shocked and distressed. When they called to raise concerns, they were told it was due to market volatility. The investor demanded clarification and compensation, but despite multiple complaints, IC Markets has not resolved the issue.

The investor is extremely frustrated and dissatisfied with this blatant scam. The invested funds were long-term savings, and losing them has caused significant hardship in their life.

Safe investing with Info Finance

Through this incident, Info Finance wants to expose the fraudulent behavior of IC Markets staff and calls for regulatory authorities to investigate and address this issue. Simultaneously, Info Finance hopes this story serves as a warning to other investors, helping them avoid similar scams and protect their assets. Info Finance hopes that justice will prevail and those responsible for the fraud will be held accountable.

If you have any complaints about a brokerage, please follow these steps to report to Info Finance for timely assistance:

1. Visit the official Info Finance website.
2. Click on the "Report Broker" section on the homepage.
3. Click on the "Send Report" button to begin filing your complaint.

Thank you for staying updated with Info Finance. Don’t forget to follow the Info Finance fanpage for the latest news. If you need support while trading or dealing with a brokerage, please contact Info Finance via the support channel: Support: CS@infofx.vn .