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- June 2015 (4 items)
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IC Markets News
You can find and read the latest news and press releases from all of our partner brokers here.
Queen's Birthday Update
Tuesday 2nd of June 2015
Please be advised that IC Markets will not be processing deposits and withdrawals on Monday, 8th June 2015 due to the Queen's Birthday holiday in Australia.
However, their accounts department have extended the cut off time for withdrawals request on Friday. Clients can send in their Withdrawal requests up until 2pm AEST on Friday, 5th June 2015.
Memorial Day Schedule
Friday 22nd of May 2015
Please find the IC Markets updated trading schedule and general information for the Memorial Day Holiday on Monday May 25, 2015. All times mentioned below are Platform time( GMT +3)
22nd May 2015 - Normal Trading Hours - Trading Ends at 24:00
25th May 2015 - Normal Trading Hours
22nd May 2015 - Normal Trading Hours
25th May 2015 - Regular Open at 01:00( 18:00 EDT, 24th May)
25th May 2015 - Trading ends at 20:00
26th May 2015- Trading reopens at 01:00
Easter Trading Hours
Wednesday 1st of April 2015
Please find the IC Markets trading schedule and general information for the Easter Holiday starting Friday, 3rd April 2015 below.
NFP announcement remains on Friday, April 03, 2015. Extra caution should be used for this week's NFP due to the lower liquidity arising from Easter Friday.
Friday, April 03, 2015
FX: Normal Trading Hours
* Very thin liquidity and wide spreads expected - Please adjust your parameters accordingly.
Monday, April 06, 2015
FX: Normal Trading Hours
Metals: Normal Trading Hours
Server Time Changing to GMT + 3
Friday 6th of March 2015
On Sunday the 8th of March, 2015 IC Markets Metatrader 4 server times will move forwards by one hour from GMT + 2 to GMT + 3.
This change is to reflect the US Eastern Standard Time change taking place on the 8th of March, 2014. IC Markets Metatrader 4 server time is based on "5 pm New York". As the time in the US will move forwards by one hour IC Markets server times will also move forwards to reflect the change.
How does this change affect you?
The time in the market watch window will now be set at GMT + 3, depending on your time zone you may also notice the market open one hour earlier on Monday morning. The charts will still show an opening time of 0:00 platform time. Some EAs using GMT offset may also be affected by this change. You should make the necessary adjustments to the GMT offset in your EA settings prior to the 8th of March.
The GMT offset explained
The market will close on Friday the 6th of March at 22:00 GMT, 00:00 platform time. New trading hours will start from Monday the 9th of March 2014, 00.00 platform time. these are listed below.
Server Name Change
Thursday 19th of February 2015
This is to inform you that IC Markets will be changing the name of their Live3 server after the market closes on the 20th of February, 2015. The server will be renamed and listed as "Live03" in your trading platforms.
They Advise all their clients to login prior to the market open on Monday the 23rd of February, 2015 to ensure everything is working correctly. Some clients may need to login by manually entering the IP address of the Live03 platform which remains unchanged at 18.104.22.168.
Also, after this change all chart history will be saved in a new history folder Live03 instead of the existing Live3 folder. IC Markets advise traders using EAs to be mindful of this and configure their settings accordingly.
Change in leverage
Tuesday 17th of February 2015
As a result of the recent decision on the 15th of January, 2015 by the Swiss National Bank (SNB) to remove the peg on the EUR/CHF pair the market in general has expressed concerns regarding the stability of other pegged currencies.
In order to protect our clients and mitigate their exposure to unnecessary volatility, IC Markets have decided to increase the margin requirements in the following exotic pairs. The margin changes will take effect at 12:00 platform time on Monday the 23rd of February, 2015.
This change will impact all clients with existing open positions.
IC Markets recommend that you review you existing open positions or deposit additional funds to ensure that your account is not subject to liquidation once the margin change occurs.
Important ECB Announcements
Wednesday 21st of January 2015
This is to inform you about the key ECB announcements expected tomorrow (Thursday, 22nd January, 2015)
All eyes will be on the ECB and Draghi for tomorrow's press conference (1:30 PM GMT) With the ECB's interest rate decision also being held tomorrow ( 12:45 PM GMT) and a strong belief held that the ECB will use this meeting to announce details regarding their quantitative easing program. Markets and spreads are likely to be extremely volatile and will widen during this period.
In preparation for ECB's QE/Rate announcement please ensure your account's exposure is kept to a minimum and is well capitalized to avoid liquidation. IC Markets will be changing the leverage across all pairs to 100:1 during the Asian session tomorrow. Any account with an exposure of greater than 50 times its value will be assessed for liquidation/position reduction prior to the announcement.
The reduced leverage will be effective until 26th of January 2015, post which normal leverage will be assessed on pairs.
IC Markets Still Strong
Tuesday 20th of January 2015
The unexpected announcement by the Swiss National Bank (SNB) that it would withdraw the cap on the Swiss Franc's value against the Euro took many in the industry by surprise and resulted in extreme volatility in the Forex markets.
IC Markets were surprised by the extreme volatility after the announcement, however fortunately in December, 2014 they assessed the risks associated with this pair and reduced the leverage offered to clients. As a result of this pre-emptive measure they were able to minimise the impact of negative client equity and provide additional protection for their clients. Despite the significant volatility during the announcement they were able to maintain pricing during periods of low liquidity.
The new paradigm in the Forex market could be characterized by periods of low volatility followed by extreme episodic volatility as we saw with the Russian Rouble in December and now the Swiss Franc last week. Two such events happening within a month of each other should be considered as a sign of the times. IC Markets are expecting more volatility like this although not of the same magnitude throughout 2015. IC Markets would like to assure you that they will continue to focus on pre-emptive risk management so that their clients remain unaffected by future volatility.
The IC Markets financial position remains strong and above their regulatory requirements with trading unaffected. As always client funds are held in segregated accounts with leading Australian banks NAB and Westpac.