I did a hair simulation on iclone 7 and baked it and then exporting as an fbx to blender, but somehow the hair simulation isnt working at all. What am i missing ?? Thanks in advance.

FBX files do not carry simulation tracks. Check to see if this post makes sense: https://forum.reallusion.com/FindPost456897.aspx

So basically there is no way to import fbx with simulation ?? I tried the alembic thing already but it seems the collision does not work !!

I am not sure what you are referring to as collision. There is no active collision anymore once you exported baked soft cloth as alembic.
Can you elaborate, show pictures, what is your workflow?

Hello really sorry for late reply, i want to import this character with the current physics applied on her cloth and hair and body into blender for a cinematic render.

https://www.youtube.com/watch?v=6ix4wUGbRHM

OK, I do not have much to add, other than confirming that Cloth/Hair are not transparent to FBX export. 
You have 2 choices:

One, is to export whole figure as alembic and redo ALL materials in Blender.

Two, hybrid export as I have shown in the link (here it is again: https://forum.reallusion.com/FindPost456897.aspx )
In this case you export animated model to FBX and then separately export Physics enabled cloth/hair as alembic and import both into Blender.
Then delete/hide cloth/hair arrived to blender with FBX.
The advantage of hybrid method, is less hassle with materials. Here you have materials for body mesh and non-physics cloth. You only need to tweak them.
But for soft cloth/hair, you'd still need to rebuild materials from scratch.

I do not see any other alternative to those 2 methods... except maybe to animate hair and other soft cloth directly with Blender physics (whole other story).