ICMarkets transfer delay

C

ceejay1962

New Member
Yesterday, I needed to bolster an account and tried to transfer money from another ICMarkets account. The transfer took 20 minutes to complete. Fortunately, nothing bad happened, but it could have stopped out my account. Was I just unlucky, or is this a common thing with ICMarkets?
 
Yes, I contacted customer support. They apologised for the delay. Also, I asked what would have happened if the delay had caused the account to stop out. They said that I would have to raise a trade investigation.

My EA charts include an indicator that monitors drawdown (notification if exceeds x%). To be safe, I reduced the trigger percentage by 10%, just in case it happens again.
 
Good thing it went through without causing a problem! I also haven't heard of it taking that long.
 
It's even worse today - the Dow Jones jumped at better-than-expected CPI and the dollar dropped. I tried to transfer money @15:12 (UK) - @16:51 (UK) the transfer is still "Processing". According to ICMarkets support, they are having "communications" problems. Again, my account has survived. When I used their support chat box, there were 30 others in the queue - not just my problem, it appears.

If this is typical of their system performance during high-volume trading hours, I'll increase the balance for safety.
 
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