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Author Topic: TICKMILL - replacing Armada with FSA Seychelles regulation  (Read 66324 times)

Offline cyberryder

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TICKMILL - replacing Armada with FSA Seychelles regulation
« on: December 22, 2014, 10:05:50 AM »
In short, as of 01/01/2015:
- Armada is gone as retail broker and continues to operate as LP
- The "new Armada" is http://www.tickmill.com



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Armada Markets has continuously grown and expanded over the years. Our monthly trading volume exceeds $25 billion and our close to 20,000 Clients come from more than 140 countries. We are constantly ranked among top 10 global brokers based on trading conditions and terms. We could not have done this without your continuing trust and support.

Today we have 2 great news to share with you!

Firstly, starting from 2015 Armada Markets will focus mainly on providing liquidity and services to banks, brokers and hedge funds.

Secondly, we are proud to announce that starting from January 1st, 2015 FSA authorized and regulated company Tickmill Ltd (www.tickmill.com) will continue providing you with first-class trading services. With a wide range of new instruments excellent trading terms and conditions, Tickmill is ready to take your trading experience to the next level!







What does it mean to you?

Trading conditions and systems, ECN liquidity, quality of customer service and support stay the same and Tickmills team will work hard to improve services even further. You will keep the same account login credentials and use the same MetaTrader 4 terminal. So you continue trading as usual!

What improvements will Tickmill bring?

You can expect the following additional benefits:

Strong protection and security as Tickmill is authorized and regulated by the FSA
Your funds will be kept segregated in the top-rated banks under the supervision of the FSA
New trading instruments such as DAX, S&P500, Nasdaq and Dow Jones stock indices and commodities
New account base currencies - CHF, AUD, SGD
A number of new payment options
Improved deposit and withdrawal processing
Improved web-based Client Area
New and improved IB compensation scheme
IB Room with great and simple set of tools, so that anyone can now become our IB

2015 will be an exciting year!
I began trading in 1997, so I know what it takes to be a trader. I assure you that Tickmill will provide high quality services and security to all Clients.

Once again, I want to thank you for being a valued Client and I wish you success and a prosperous New Year.

For any queries about these improvements and our services, please call us at
+372 686 3163. You can also email us at support@armadamarkets.com.
« Last Edit: December 24, 2014, 02:43:14 PM by cyberryder »
@BeeksFX LD5
Read the broker TOS!
Searching for a broker, offering additional fund security in the TOS. None available today: http://www.donnaforex.com/forum/index.php?topic=13785.msg335342#msg335342

Online jonpearce

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #1 on: December 22, 2014, 10:12:13 AM »
The regulation was always coming.......was just a matter of when  ;)

Offline rodneyp

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #2 on: December 22, 2014, 10:22:51 AM »
They had to set up a new company as the old name was tainted. They must have new directors also as the mattus brothers have a bad track record.

Offline JJ-FX

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #3 on: December 22, 2014, 11:08:53 AM »
You do realise they are talking about the FSA, Seychelles?

Offline rodneyp

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #4 on: December 22, 2014, 12:55:40 PM »
You do realise they are talking about the FSA, Seychelles?

You are so right. These guys are going from dodgy to mega dodgy. I really dont know why anyone would tolerate this. I dont think they can get regulated in any legitimate country hence this is a last ditch effort to save on tax and scrape up clients from dodgy countries that properly regulated brokers cant accept.

Absolutely disgusting !!

Online jonpearce

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #5 on: December 22, 2014, 01:11:37 PM »
Not being at liberty to disclose too much this needs to be seen as a STEP in the right direction.

Offline GoldenBoy

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #6 on: December 22, 2014, 02:12:34 PM »
Funny thing is they send an email to tell you they are now FSA regulated so immediately you think FSA UK but in reality it is FSA Seychelles. What a joke.
No Fear........Just Greed.

Offline felipebr

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #7 on: December 22, 2014, 02:51:41 PM »
Hi people, I was thinking about open an account in this new Tickmill or Armada but this bad things you saying.
Did you have any problem with Armada ?

Offline cyberryder

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #8 on: December 22, 2014, 03:20:14 PM »
You do realise they are talking about the FSA, Seychelles?
Seychelles? Are you kidding? thought it was UK and wondered why they did not use the new name FCA. But i see they write "SC" on their page...What a joke then. New name + fake regulation = Marketing bubble. Thread updated.
« Last Edit: December 22, 2014, 03:23:58 PM by cyberryder »
@BeeksFX LD5
Read the broker TOS!
Searching for a broker, offering additional fund security in the TOS. None available today: http://www.donnaforex.com/forum/index.php?topic=13785.msg335342#msg335342

Offline JJ-FX

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #9 on: December 22, 2014, 04:01:47 PM »
Hi people, I was thinking about open an account in this new Tickmill or Armada but this bad things you saying.
Did you have any problem with Armada ?
I never had issues with Armada Markets and regulation has never been at the top of my list of broker requirements, but I think this is one step too far, even for me.

They decided to leave a European country with an existing financial authority to set up shop in a country with basically no financial reputation at all. They could have applied to be regulated by their local financial authority which would have given them access to the Estonian compensation scheme, they could have moved to a country with a reputable regulation, but no, they picked the Republic of Seychelles.

In addition, the new website, the notification email and basically everything they say gives the impression that they are now regulated by a reputable financial authority. They probably spent quite some time phrasing all this without actually mentioning the Seychelles.

I think a fitting legal term for this behaviour would be wilful deception.

Offline geektrader

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #10 on: December 22, 2014, 04:06:27 PM »
I admit I am really disappointed as well, not because they move to the Seychelles (in the end we never know which kind of regulations will come to the Forex market in the next years with more and more limits being set to the retail investor in the western countries in terms of allowed client countries and leverage, etc. so that this might actually be smart move on part of Armada as the Seychelles will most likely not introduce any such limitations), but that they dont really say this in that email and make the impression they are getting a UK regulation and just mentioning the Seychelles in the fine print. This is RATHER uncool and disrespectful to their existing clients, trying to trick them like that. And thats not the honesty Armada Markets always had to their clients... really sad to see this as the 100% honesty was the most important part for me with that broker.
« Last Edit: December 22, 2014, 04:08:05 PM by geektrader »

Offline corre971

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Re: TICKMILL - replacing Armada as FSA-regulated broker
« Reply #11 on: December 22, 2014, 04:19:02 PM »
Hi people, I was thinking about open an account in this new Tickmill or Armada but this bad things you saying.
Did you have any problem with Armada ?
I never had issues with Armada Markets and regulation has never been at the top of my list of broker requirements, but I think this is one step too far, even for me.

They decided to leave a European country with an existing financial authority to set up shop in a country with basically no financial reputation at all. They could have applied to be regulated by their local financial authority which would have given them access to the Estonian compensation scheme, they could have moved to a country with a reputable regulation, but no, they picked the Republic of Seychelles.

In addition, the new website, the notification email and basically everything they say gives the impression that they are now regulated by a reputable financial authority. They probably spent quite some time phrasing all this without actually mentioning the Seychelles.

I think a fitting legal term for this behaviour would be wilful deception.
So there is no compensaton scheme?

Offline jeuro

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #12 on: December 22, 2014, 04:47:31 PM »
 I guess not every knows that FSA UK  did change  to become  FCA and Seychelles change from SIBA to FSA  :D.

In any case not cool to make it clear. 

My prediction is that the existing clients will not care, I doubt  their good trading conditions change.

It is a step in the right direction.  Traders are never happy  :) ,  While they grow by providing good pricing, some  Bitch and stay by the fence because  of no regulation.  Now, still not happy  :)

J.

Offline super7

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #13 on: December 22, 2014, 05:47:24 PM »
wtf , I too confused it with UK at first, why they downgrade reputation ...

Offline geektrader

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #14 on: December 22, 2014, 05:57:11 PM »
I honestly prefered unregulated Estonia over Seychelles, so many bad experiences with the banks there for me that I really hate this island;)