We are an online marketing agency based in Vietnam, and we want to share our true experience. ICmarkets.com is engaging in unethical practices with its partners, and we want to caution you as you could be their next target.
This article will consist of three parts, providing a detailed account of the incidents that transpired and how IC Markets dealt with the situation. The strategies and tactics employed by them are designed to cause distress to anyone in the MMO (Make Money Online) industry who may not have the resources to fight back.
I. What happened?
The incident involving IC Markets in December 2022 has left us deeply shocked and disappointed. Our accounts were suddenly locked without prior notice, resulting in the loss of our hard-earned commission earnings. This has caused immense frustration and disappointment.
Our client base consists of more than 15,000 registered users, with thousands of them making deposits and engaging in trading activities. Our weekly average revenue ranges from $8,000 to $9,000.
IC Markets provided no valid reasons for their arbitrary actions; they simply confiscated our earnings, which we had worked hard to generate. It’s important to emphasize that they did allow us to withdraw our current commissions, but we believe that this is only a fraction of what we rightfully deserve. We have invested significantly in promoting their services and have yet to realize any profits. Moreover, the client data belongs to us, as do the forthcoming commissions. As long as these clients continue to generate revenue for ICmarkets.com, we are entitled to our share.
IC Markets is pressuring us to sign a “Release of Commission” form, essentially forcing us to admit to violations of their terms that we vehemently deny committing. These allegations lack clear evidence and are solely based on hearsay, lacking any authenticity.
We urge IC Markets to substantiate these alleged violations with clear and compelling evidence. Over ten Introducing Brokers (IBs) within the MMO Vietnam community have faced similar issues. If IC Markets fails to provide a satisfactory explanation, we are committed to sharing this troubling information widely. Here is the list of MMOs we are referring to:
II. How we solve this problem?
Part 1: In April 2023.
All the IBs mentioned earlier have encountered the same issue with IC Markets during this period. We were accused of “violating Clause 6.2,” specifically for using brand keywords, which led IC Markets to declare their intention to “terminate your IB wallet and freeze the withdrawal function from your IB wallet immediately.”
On April 17, 2023, IC Markets introduced an additional allegation, claiming that I had violated Clause 4.1.a.i. This clause restricts IBs from Vietnam to earning commissions solely from clients in Southeast Asia, including Indonesia, Malaysia, Thailand, Singapore, the Philippines, and Vietnam.
The initial inconsistency arises from IC Markets initially reporting a violation of Partner Clause 6.2, related to the use of trademark keywords, but later changing their stance to Clause 4.1.a.i. It’s essential to note that Clause 4.1.a.i does not specify that IBs in a particular country are restricted to finding clients exclusively in the mentioned countries. IC Markets has never publicly announced such restrictions. Throughout our interactions with IC Markets’ partner team, there was never any communication regarding these limitations.
The inconsistency in notifications raises questions about IC Markets’ intentions.
Why do they repeatedly attempt to disable our IB accounts, disrupting our marketing efforts? Is IC Markets searching for any excuse to withhold both the customers and commissions that IBs have brought in?
Additionally, the accusation becomes more perplexing as IC Markets did not consider these activities as violations when they first occurred in 2022. So, why are they suddenly making these claims now?
Currently, not only my account but also the accounts of many other Vietnamese IBs face the same situation. IC Markets has failed to provide concrete evidence or clarify the alleged violations while locking our accounts and pressuring us to sign and withdraw our funds.
Mail from IC Markets support
Part 2: In October 2023.
After they closed our accounts, confiscated all the commissions we had earned, and seized all of our customer data, they coerced us into signing a document labeled the “Commission Release.” At that juncture, each of us faced similar circumstances and vehemently objected to the nonsensical justifications they presented.
Regrettably, our attempts to find common ground proved futile, leading to a protracted period of silence from IC Markets that lasted four months. During this hiatus, we incurred significant losses, including payments made to Key Opinion Leaders (KOLs) and collaborative marketing units, amounting to a substantial sum. Our entire investment seemed to vanish into their coffers without any semblance of an explanation, leaving us bewildered and aggrieved.
JUST IMAGINE WITH THOSE NUMBERS, HOW MUCH EFFORT AND MONEY I’VE INVESTED IN THIS CAMPAIGN.
Following email negotiations, IC Markets once again proved to be untrustworthy.
After expressing their desire for a transparent resolution and our subsequent trust in them, we decided to remove our posts as a goodwill gesture toward an amicable settlement.
However, after patiently waiting for over a month without any response from IC Markets, they resorted to drastic measures. They contacted our hosting provider and attempted to shut down our entire website. Fortunately, we promptly contacted our hosting provider and provided a clear explanation of the situation. Realizing that their initial tactic wouldn’t work, IC Markets initiated a negotiation by offering to pay a sum that was significantly less than the amount we were rightfully owed.
When we refused to agree to these unfair terms, IC Markets went further by exerting influence on TrustPilot, a platform we had trusted as a place for traders and MMO practitioners to share truthful information. Instead, IC Markets manipulated TrustPilot, resulting in the deletion of all the information and reviews we had collected and submitted, without requiring any evidence or supporting images. This blatant bias reached its zenith, and it became clear that IC Markets was employing various tactics to line their own pockets. It appears that the concept of fairness is relative, and those with power can bend the rules to their advantage. It’s akin to a law of the jungle mentality prevailing here.
Part 3: Conclusion
IC Markets is operating as a fraudulent platform. While they may appear trustworthy when dealing with smaller sums, their behavior takes a dark turn when larger earnings are involved. They engage in deceitful tactics and provide explanations that lack credibility, all in pursuit of their own financial gain.
In conclusion, we demand that IC Markets substantiate these alleged violations with clear and compelling evidence. More than ten Introducing Brokers (IBs) within the MMO Vietnam community have faced identical issues. We have collectively documented our experiences, and unless IC Markets offers a satisfactory resolution and provides clarification, we are committed to tirelessly spreading this unsettling truth. We possess the necessary experience, and the substantial number of visitors we’ve brought should underscore our determination. That concludes our statement.
To learn more detailed information, please visit this link: https://facts-about-icmarkets.com/
