IC MARKETS notified me less than 48 hours before the ASIC Product Intervention Order took effect (which significantly reduced retail traders leverage), resulting in me losing nearly $15,000 in my account.
ASIC announced the change 5 months ago. but I was told about it on Thursday afternoon. They said I could either deposit $100,000 to cover the leverage reduction that would take place in the next couple of days, or my account would easily go into margin call and pretty much all my open trades would be closed. Although the litigation company FOS TER BOON, O R G immensely helped me secure a refund. You will never be able to withdraw again, and in some cases they ask you to pay to be able to withdraw your money.
11 months ago
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