Tickmil (Armada) ... anyone have experience with this broker ?

moyes

Junior member
40 0
Any feedback on Tickmill? Between Tickmill and IC Markets, I am planning on trading with them, but I know they are based in the Seychelles with a dubious licence. Anyone used them yet and are happy so far?
 

billyjean

Active member
120 5
Any feedback on Tickmill? Between Tickmill and IC Markets, I am planning on trading with them, but I know they are based in the Seychelles with a dubious licence. Anyone used them yet and are happy so far?
many traders looking for an alternative brokerage service since the SNBomb event, while many traders still struglle with their negative balance eventhough the 'forgiveness' solution are not best option traders can get. furthermore, it should be many traders also losing faith with regulation, as there's fully ledged brokers had fall even they already for decade with strong regulation.
I use to trade with several company, and Tickmill are one them, I start my ecn account since they still Armada Markets, to be blunt you can narrow your search and collect many review you can get, for example during last event CHF sudden movement, how both brokers react to this ?
and I truly happy when Tickmill made any changes to already closed positions and paid out all the profits to clients as there are no complaints about them in public forums, there's no such position adjustment been made. some traders got their position adjusted from negative to positive one, but most of it lower than initial positive balance, wonder where those money flushed.
 

Pat494

Legendary member
14,590 1,564
Virtually unregulated brokers supposedly operating out of small offshore islands are I think a big risk. Audited by unknown people, who is to check ?
One may put Cyprus in with The Maldives, Mauritius, The Seychelles etc. They may have been lucky over the Swiss debacle or .........well who knows.

Caveat emptor
 

moyes

Junior member
40 0
Virtually unregulated brokers supposedly operating out of small offshore islands are I think a big risk. Audited by unknown people, who is to check ?
One may put Cyprus in with The Maldives, Mauritius, The Seychelles etc. They may have been lucky over the Swiss debacle or .........well who knows.

Caveat emptor

I have to agree with you. Seychelles licence or regulation does not inspire much trust. Sounds a bit risky to trade with them...
 

Tickmill

Junior member
25 0
I understand your worries and appreciate them, but does anyone know any fraud case during Armada Markets operation? I believe you will not find any so that should be the evidence of trust.
 

moyes

Junior member
40 0
I understand your worries and appreciate them, but does anyone know any fraud case during Armada Markets operation? I believe you will not find any so that should be the evidence of trust.

Well, there was a problem with Armada and Poland regulatory authorities. Not sure to what extent because the truth was never revealed..
 

billyjean

Active member
120 5
The issue has nothing to do with Polish traders....Check the link"‘Armada Markets’ Set to Leave Polish Market under a Cloud of Suspicion" http://forexmagnates.com/armada-markets-exits-polish-market-cloud-suspicion/

What is this all about?

how long do you trade ? which country are you from ? .. that's also main before get real understand of this all about. any trader who trade for long term period should face many rules and regulation change, and based on any spesific country it may different, some country even barely restrict their client to use any brokerage service outside their country regulation. this all about, the polish goverment try to prevent their citizen to use armada service (now tickmill), and encourage them to use local based brokerage company. and this are very long gone issue with armada, all set up, no body got hurts anyway, not even single complaint from any polish traders reported.
fact with those kind restriction it's all around, not all country accept any international brokerage company to run free collecting clients within their country, besides they also had local based brokerage service with local regulation law, for example have check how the US goverment restrict their citizen, and apply 1:50 leverage for any brokers who willing to licences by their 'famous' NFA regulation firm, as result from CHF event they even reduce leverage at 1:33.
if you plan to trade with some brokers choice go with it, experience by yourself at least open their demo account to try out theri trading condition, keep digging the internet for such odd issue not simply resolve the brokers confusion, you may end up as fx broker journalist rather than a trader.
 

babyjake1961

Well-known member
391 13

billyjean

Active member
120 5
I would imagine it's not too hard to get on the Seychellan FSA list. What are their capital requirements for brokers? Do they require that client funds are held in segregated accounts? Is there a Financial Services Compensation Scheme similar to the UK one in place?

As far as I am not much concerned about safety, regulation is off the map there - let it be CySEC, FCA, FSC, if they want to cheat you the'll find the way to do that legally , through inefficiencies of execution, assymetrical spreads, etc..Only time and experience shows who hits his stride.
regarding segregated accounts, surely they did. looking at their January winner,
210k amount in total balance, surely it's placed at segregated bank account.

and it's make 1k prize seem very small money compare to his profit gain 77k.
wonder if Philip taking part at any online forum, it would be a good one to had such trader around.
 
 
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