Abstract：Did IVY Markets deduct unfair fees from your deposit amount? Has your forex trading account been deleted by the broker on your withdrawal request? Failed to withdraw your funds after accepting the IVY Markets deposit bonus? Did the broker fail to address your trading queries, whether via email or phone? Such issues have been affecting many traders, who have expressed their displeasure about these on broker review platforms. In this IVY Markets review article, we have investigated some complaints. Keep reading to know the same.
Did IVY Markets deduct unfair fees from your deposit amount? Has your forex trading account been deleted by the broker on your withdrawal request? Failed to withdraw your funds after accepting the IVY Markets deposit bonus? Did the broker fail to address your trading queries, whether via email or phone? Such issues have been affecting many traders, who have expressed their displeasure about these on broker review platforms. In this IVY Markets review article, we have investigated some complaints. Keep reading to know the same.
Checking Out the Top Forex Trading Complaints Against IVY Markets
The Unfair Fee Deduction & Account Deletion Allegation on IVY Markets
A trader shared an annoying experience with the IVY Markets trading platform, which deducted a fee from the deposited balance. Subsequently, the trader submitted the withdrawal request. However, the broker did not process it. Instead, the broker deleted the traders account, as per the complaint. The trader even complained this to the authorities and is trying to recover the funds legally. Here is the review of IVY Markets, where the trader shared all these incidents.
The Fund Scam Allegation
This complaint talks about a trader who could not withdraw the initial deposit of 200 USD as the trading platform disappeared, according to him. The trader even accepted the admin‘s request for additional deposits. As the trader did it, the trading account balance became NIL. What’s worse, the admin blocked the trader. Concerned by the poor trading experience, the trader shared this IVY Markets review on WikiFX, the worlds leading forex regulation inquiry app.
IVY Markets Alleged MetaQuotes Impersonation, Insurance Scam & Withdrawal Block
The complainant alleges being lured into Ivy Markets LTD by individuals falsely claiming to be MetaQuotes employees, who promised a $5,000 “Forex Insurance Capital” as compensation for prior trading losses. To access the funds, the complainant was instructed to open an account with Ivy Markets and either deposit 50% and trade for one week or deposit 100% for immediate withdrawal.
After depositing $2,600 plus $100, guided trades led to abnormal spread widening, causing account 888026 to lose nearly $10,000 within a week. The complainant was then offered a second “insurance” of $9,200 and persuaded to re-enter trading with additional deposits. After a small $20 test withdrawal, the complainant deposited again and was encouraged to take large positions and a 50% bonus, requiring a new account (888013).
Despite trading for over a month as instructed, withdrawals are now blocked, and the Ivy Markets website has become inaccessible, leaving the complainant unable to recover funds and alleging a coordinated investment and withdrawal scam.
We have shared the screenshot below supporting the traders complaint.
The Automatic Account Liquidation Claim Against IVY Markets
As per the claim, a trader placed a request to withdraw 1062.36 USD. For multiple times, the trader saw the same thing - the withdrawal request is processed - on the exchange. However, as the trader checked on the IVY Markets login, he found a reduced balance in the forex trading account. The trader saw an automatic 60 buy order placement by the exchange that led to a fund burnout worth 987.07 USD. A few more traders witnessed the same issue. Check out the multiple screenshots supporting this complaint.
IVY Markets Review by WikiFX: Is the Broker Regulated or Not?
The answer is NO, the US-based IVY Markets is unregulated, much in line with the scam allegations made by traders. As a result, the WikiFX team gave the broker a score of just 1.89 out of 10.
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