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Author Topic: TICKMILL - replacing Armada with FSA Seychelles regulation  (Read 66080 times)

Offline rodneyp

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #15 on: December 22, 2014, 06:11:24 PM »
It is very clear that this is a tax dodge and a way of tricking people to think they are UK regulated.

Offline super7

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #16 on: December 22, 2014, 06:19:28 PM »
bank acc. they continue to keep in EU as there is SEPA transfer option, I think same bank, actually interesting how all this is legally drawn, changing customer agreements, moving client funds. and what it means to clients? deposit in Armada at Estonia and receive money from offshore, hmm, most problem is that arises red flags from client home country banks and regulators ...

Offline felipebr

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #17 on: December 22, 2014, 06:30:39 PM »
Yes, I agree... red flags up, I will stick with IC Markets for while.  ???

Offline Peter22

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #18 on: December 23, 2014, 09:57:56 AM »
I worry most about liability issues. What if you have an issue with Tickmill, you cant solve yourself? Request an attorney to send a summons to their office in Seychelles? They can simply put your summons in the trash can and they probably know this. I asked Armada Markets if they are liable for fault Tickmill makes. They replied my e-mail, but they did not answer this question. Strange. What struck me is their timing (a couple of days before Christmas) and very short notice.

Offline lupynx

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #19 on: December 23, 2014, 01:59:44 PM »
I worry most about liability issues. What if you have an issue with Tickmill, you can’t solve yourself? Request an attorney to send a summons to their office in Seychelles?

Well, before, Armada is not even regulated at all. So I'm quite confused with many negative statement similar to this.

Do you people really prefer Armada unregulated?

*ah, maybe people who are saying stuff like that isn't even looking at Armada before.

Offline Efx123

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #20 on: December 23, 2014, 06:47:13 PM »
If they will continue charging only 20 per million and 0.1 average EURUSD spread then they will continue to grow fast. FSA regulation, even if it is Seychelles is a good sign to me.

Offline geektrader

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #21 on: December 24, 2014, 06:14:05 AM »
The thing I really like about this Seychelles regulation is that its pretty limitless for Tickmill and their clients.

I am sure the "western" regulators will soon impose limitations on Forex traders in the common big Forex countries like Australia and the UK and hence Europe too (the US already did it, now Japan followed with hefty rules and did forbid, along with ASIC, Australian brokers to offer their services to Japanese clients). I doubt the Seychelles will never follow such moves as it will make them stronger. So in the long run, Tickmill has a great advantage here as I can tell that people will not simply accept such new regulations and will move offshore, and then Armada (Tickmill) is already there - pretty smart!

The only thing I really DON`T like, why havent they communicated that they mean FSA in the Seychelles openly to us? They were always honest and now such "games", I dont get it why it had to be done that way....

Offline jonpearce

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #22 on: December 24, 2014, 07:25:10 AM »
The thing I really like about this Seychelles regulation is that its pretty limitless for Tickmill and their clients.

I am sure the "western" regulators will soon impose limitations on Forex traders in the common big Forex countries like Australia and the UK and hence Europe too (the US already did it, now Japan followed with hefty rules and did forbid, along with ASIC, Australian brokers to offer their services to Japanese clients). I doubt the Seychelles will never follow such moves as it will make them stronger. So in the long run, Tickmill has a great advantage here as I can tell that people will not simply accept such new regulations and will move offshore, and then Armada (Tickmill) is already there - pretty smart!

The only thing I really DON`T like, why havent they communicated that they mean FSA in the Seychelles openly to us? They were always honest and now such "games", I dont get it why it had to be done that way....

Maybe they just assumed that traders would know the origins of FSA regulation? Sure, it could be mistaken for FCA regulation at a glance but deliberately???.........I am not so sure.

Multiple regulation seems to be the way to go given what you stated above. FxOpen runs its business along these lines I believe. Maybe Armada Markets are following that path..........who knows?  ;)

Offline Efx123

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #23 on: December 24, 2014, 10:31:00 AM »
Went through their website www.tickmill.com. It has Seychelles written all over it, so not sure why some claim that they are hiding something.

I agree with some participants here that Seychelles FSA regulation will probably turn out to be an advantage to Tickmill as EU will likely follow the same path as US soon by lowering leverage, enforcing additional reporting on brokers and generally screwing the whole industry. So one day clients of EU brokers will realize that there is absolutely no way they can profit. And even if there is a profit, then the tax man will take most of it. Welcome to the real world!

Offline Zuttasoxx

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Re: TICKMILL - replacing Armada with "fake" FSA regulation (non-UK)
« Reply #24 on: December 24, 2014, 11:12:34 AM »
I missed this at first too

but there is no FSA UK they changed there name to FCA.. So I think there lies the reason to not specify.. Either way I have been happy with them for over 2 years and I have no reason to not believe in their vision.

Offline cyberryder

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #25 on: December 24, 2014, 02:52:03 PM »
Went through their website www.tickmill.com. It has Seychelles written all over it, so not sure why some claim that they are hiding something.
i re-checked their website: It seems they are reading this thread and ONLY BY NOW changed the little "SC" to "Seychelles" and also print FSA Seychelles only by now on the starting page.

To be transparent about the regulation country was the most discussed point here. So i think we finally got what we asked for and can close this discussion. I updated the thread headline, to be fair.

The 2nd point was the discussion, if FSA Seychelles is a benefit and therefore they added trust to their story or not. I think they should officially explain WHY FSA Seychelles and what they think the value will be for us. Without further details, atm i still see this as a move backward.
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Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #26 on: December 24, 2014, 10:07:19 PM »
The fact remains that they tried to mislead everyone at the start, this tells us that Armada is not an honest broker at all and they have not changed one bit.

These facts remain:
1. Founders convicted of market manipulation by US regulators
2. Warning received by Estonian regulators for unlicenced forex dealings
3. Banned from Poland for operating an unlicenced forex brokerage
4. Deceive the public by not properly disclosing Seychelles regulation.

I hope i have not missed anything.

Offline iwillsurvive

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #27 on: December 25, 2014, 03:31:18 AM »
The fact remains that they tried to mislead everyone at the start, this tells us that Armada is not an honest broker at all and they have not changed one bit.

These facts remain:
1. Founders convicted of market manipulation by US regulators
2. Warning received by Estonian regulators for unlicenced forex dealings
3. Banned from Poland for operating an unlicenced forex brokerage
4. Deceive the public by not properly disclosing Seychelles regulation.

I hope i have not missed anything.

1. Founders convicted of market manipulation by US regulators

That is quite a big accusation. Could you show us some evidence?

2. You seem to really hate Armada Markets. Could you share with us what wrong doing have they done against you?
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Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #28 on: December 25, 2014, 04:50:45 AM »
The fact remains that they tried to mislead everyone at the start, this tells us that Armada is not an honest broker at all and they have not changed one bit.

These facts remain:
1. Founders convicted of market manipulation by US regulators
2. Warning received by Estonian regulators for unlicenced forex dealings
3. Banned from Poland for operating an unlicenced forex brokerage
4. Deceive the public by not properly disclosing Seychelles regulation.

I hope i have not missed anything.

1. Founders convicted of market manipulation by US regulators

That is quite a big accusation. Could you show us some evidence?

2. You seem to really hate Armada Markets. Could you share with us what wrong doing have they done against you?

Here you go. The word convicted is probably a little harsh, lets just say they were found guilty.

http://www.cmegroup.com/tools-information/lookups/advisories/disciplinary/CBOT-08-01215-BC-ILLIMAR-MATTUS.html

http://www.cmegroup.com/tools-information/lookups/advisories/disciplinary/CBOT-08-01215-BC-INGMAR-MATTUS.html

Merry christmas
« Last Edit: December 25, 2014, 05:02:18 AM by rodneyp »

Offline Changleitrade

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #29 on: December 25, 2014, 09:06:55 AM »
Let's try to keep this thread professional. Tickmill is authorized and regulated by the FSA of Seychelles. If they continue to provide as good service as Armada then I will remain a client for years to come. I believe that Jon is right as this is just the first step towards an even better future. Fingers crossed and best of luck.