Refusal to Provide Banking Update and Customer Support

I am writing to formally lodge a complaint against IC Markets regarding their failure to provide adequate customer support and process my request to update my banking details in their accounts department. The prolonged delays and lack of action have raised serious concerns about IC Markets’ handling of customer accounts, potentially restricting access to funds without just cause.

I emigrated from South Africa to Qatar and have been attempting to update my IC Markets account with my Qatar bank details since I no longer use my South African bank accounts. I uploaded proof of my Qatar bank account more than a month ago on my IC Markets profile, yet it has still not been linked to my account for withdrawals to my Qatar bank account. This request has been ongoing for over a month, with no resolution, due to the deliberate inaction of IC Markets’ representative, Juliana Voroklinioti.

Issues Experienced: • Excessive Delays: Ms. Voroklinioti takes 5 to 7 days to respond to each email, unnecessarily prolonging the process. • Irrelevant and Incorrect Responses: She has repeatedly provided excuses instead of resolving the issue. For example, she claimed I did not provide my card’s expiry date when it was clearly visible in the top left corner of my submission. • Unreasonable Requests: She requested proof of deposits on virtual cards, which is not applicable or necessary for my request. • Failure to Process Uploaded Documents: I uploaded proof of my Qatar bank account more than a month ago on my IC Markets profile, yet it has still not been linked to my account for withdrawals to my Qatar bank account. • Refusal to Escalate: Despite multiple requests, she has refused to escalate my case to a manager or provide a direct contact number to resolve the matter efficiently, or to call me back after 1 month and despite repeated requests. • Lack of Customer Support: IC Markets has failed to provide a reasonable resolution, leaving me unable to update my banking details or access my funds as required.

This conduct is highly concerning for a financial institution regulated in Australia. IC Markets’ unwillingness to process a simple banking update, coupled with their poor customer support, suggests an attempt to obstruct access to customer funds. Do not do business with this broker. They refuse to provide their customers with proper service.