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Author Topic: TICKMILL - replacing Armada with FSA Seychelles regulation  (Read 150046 times)

Offline Kristjan_GSI

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #45 on: January 01, 2015, 07:16:40 PM »
The only reason behind moving headoffice to outside Estonia is taxes. We have quite high tax rates. They probably found a cheaper place.
I'm estonian. The stories about russians agression and threat is pure nonsense coming from the people with too high imagination. Healthy caution is healthy, and we joined NATO because of that, but some people overfantasize everything.
I lived and worked 3 years in Moscow. Russia is like a heaven and hell holding hands, but i don't believe for a second that Baltic states are under any threat of an invasion by the Putin & Co.

Offline HFT Group

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #46 on: January 02, 2015, 01:17:09 AM »
The only reason behind moving headoffice to outside Estonia is taxes. We have quite high tax rates. They probably found a cheaper place.
I'm estonian. The stories about russians agression and threat is pure nonsense coming from the people with too high imagination. Healthy caution is healthy, and we joined NATO because of that, but some people overfantasize everything.
I lived and worked 3 years in Moscow. Russia is like a heaven and hell holding hands, but i don't believe for a second that Baltic states are under any threat of an invasion by the Putin & Co.

While this may be true it is NOT the primary reason for this move.

Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #47 on: January 02, 2015, 02:01:19 AM »
Its likely that no reputable regulator like ASIC or the FCA would accept them, therefore they had to become regulated albeit in a dodgy tax haven where the cost to become regulated is one carton of beer. This is probably also why they changed their name.
« Last Edit: January 02, 2015, 02:03:24 AM by rodneyp »

Offline geektrader

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #48 on: January 02, 2015, 03:17:47 AM »
The only reason behind moving headoffice to outside Estonia is taxes. We have quite high tax rates. They probably found a cheaper place.
I'm estonian. The stories about russians agression and threat is pure nonsense coming from the people with too high imagination. Healthy caution is healthy, and we joined NATO because of that, but some people overfantasize everything.
I lived and worked 3 years in Moscow. Russia is like a heaven and hell holding hands, but i don't believe for a second that Baltic states are under any threat of an invasion by the Putin & Co.

While this may be true it is NOT the primary reason for this move.

Hi John,

happy new year to you and thanks for your ongoing contribution in this forum, its really appreciated! You seem to know some things we dont know and I think everyone would appreciate if you could give some hint what the primary reason really is. Has it something to do with a upcoming heavy regulation for EU FX traders that would make Armada Markets impossible in its old form in terms of leverage, etc.? Or what is really behind this move? I know the Armada founders always have been smart guys, so I really wonder whats going on...

Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #49 on: January 02, 2015, 12:12:04 PM »
Its likely that no reputable regulator like ASIC or the FCA would accept them, therefore they had to become regulated albeit in a dodgy tax haven where the cost to become regulated is one carton of beer. This is probably also why they changed their name.

My friend just told me that "Tickmill" will be the new entity that they will use to attempt to gain regulation from a reputable regulator. He also told me that they tried to get regulated by ASIC and even set up a company in Australia but their application was denied. Says something I guess !!

Offline HFT Group

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #50 on: January 02, 2015, 12:57:12 PM »
The only reason behind moving headoffice to outside Estonia is taxes. We have quite high tax rates. They probably found a cheaper place.
I'm estonian. The stories about russians agression and threat is pure nonsense coming from the people with too high imagination. Healthy caution is healthy, and we joined NATO because of that, but some people overfantasize everything.
I lived and worked 3 years in Moscow. Russia is like a heaven and hell holding hands, but i don't believe for a second that Baltic states are under any threat of an invasion by the Putin & Co.

While this may be true it is NOT the primary reason for this move.

Hi John,

happy new year to you and thanks for your ongoing contribution in this forum, its really appreciated! You seem to know some things we dont know and I think everyone would appreciate if you could give some hint what the primary reason really is. Has it something to do with a upcoming heavy regulation for EU FX traders that would make Armada Markets impossible in its old form in terms of leverage, etc.? Or what is really behind this move? I know the Armada founders always have been smart guys, so I really wonder whats going on...

Thank you and a very Happy New Year to you also :)
Better regulation is a huge consideration for clients and therefore,  very relevant to brokers seeking to increase their client base.
While I am not at liberty do disclose any information passed to me in confidence, I will try correct any inaccuracies, rumours, suppositions and bad guesses posted here.

Offline super7

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #51 on: January 02, 2015, 01:53:33 PM »
The only reason behind moving headoffice to outside Estonia is taxes. We have quite high tax rates. They probably found a cheaper place.
I'm estonian. The stories about russians agression and threat is pure nonsense coming from the people with too high imagination. Healthy caution is healthy, and we joined NATO because of that, but some people overfantasize everything.
I lived and worked 3 years in Moscow. Russia is like a heaven and hell holding hands, but i don't believe for a second that Baltic states are under any threat of an invasion by the Putin & Co.

While this may be true it is NOT the primary reason for this move.

Hi John,

happy new year to you and thanks for your ongoing contribution in this forum, its really appreciated! You seem to know some things we dont know and I think everyone would appreciate if you could give some hint what the primary reason really is. Has it something to do with a upcoming heavy regulation for EU FX traders that would make Armada Markets impossible in its old form in terms of leverage, etc.? Or what is really behind this move? I know the Armada founders always have been smart guys, so I really wonder whats going on...

what "upcoming heavy regulation for EU FX traders"  you are talking about? there is not any reputable source I could find to support this ,  quite opposite I see more foreign brokers move to EU,  for instance FxPrimus just got Cyprus licence

Offline Kristjan_GSI

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #52 on: January 02, 2015, 02:01:33 PM »
Cyprus is the tax heaven for companies.

Offline cyberryder

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #53 on: January 02, 2015, 02:38:48 PM »
Says something I guess !!
it says zero Rodneyp, if your friend tells you anything. Please post something tangible we can verify.
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Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #54 on: January 02, 2015, 11:11:32 PM »
Says something I guess !!
it says zero Rodneyp, if your friend tells you anything. Please post something tangible we can verify.

Hi Cybertrader

I will find out more and get back to you. The traders I speak to are connected, nevertheless I will provide evidence.

Have a good new year

Rodney )

Offline Changleitrade

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #55 on: January 04, 2015, 04:52:23 PM »
Tickmill customer rep informed me that stock indices will be made available in the coming weeks. Fingers crossed!

Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #56 on: January 05, 2015, 07:36:01 AM »
Says something I guess !!
it says zero Rodneyp, if your friend tells you anything. Please post something tangible we can verify.

Hi Cybertrader

I will find out more and get back to you. The traders I speak to are connected, nevertheless I will provide evidence.

Have a good new year

Rodney )

Here is that proof I said that I would provide, this is a company extract which is publicly available information from the ASIC website. They set up a company in August 2013 and for whatever reason ASIC has not granted them a licence.
« Last Edit: January 05, 2015, 09:50:29 AM by rodneyp »

Offline Efx123

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #57 on: January 05, 2015, 09:35:26 AM »
Rodney, as couple of people have already asked you then let's get the facts straight. Please post proof here that ASIC has ever denied them anything. Can you do that?

Offline ChuckNZ

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #58 on: January 05, 2015, 09:45:38 AM »
I understood that existing Armada customers were either automatically transferred to Tickmill or that they at least received an email inviting them to do so.   Neither one of these things happened for me, so wondering about others?   Have you transferred across.

My experiences at Armada were always good, including the usual slippage, requotes and withdrawals that are high on the criteria list.   So, I was disappointed to hear that they were no longer handling "retail" trading.

I'll give Tickmill.com a shot and see how it goes.   The first problem that I had was that, in spite of the website saying otherwise, they don't yet accept credit card deposits.   That's supposed to be fixed over the next couple of days, so we'll see if it happens.

With no money in the account, I can only watch quotes (I don't bother with demo accounts) and they look pretty good.  Of course, I'm looking at an ECN account and commissions need to be considered.

Like others, I don't sweat the regulation stuff. 

Offline rodneyp

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Re: TICKMILL - replacing Armada with FSA Seychelles regulation
« Reply #59 on: January 05, 2015, 09:48:36 AM »
Rodney, as couple of people have already asked you then let's get the facts straight. Please post proof here that ASIC has ever denied them anything. Can you do that?

1.5 years without a licence, you be the judge!!!

I suggest you ask them directly as this is of course "commercial in confidence".

I am only providing information that is publicly available however often dismissed or "clouded" in forums like this. It is your job as a fourm member to assess its relevance to you.
« Last Edit: January 05, 2015, 09:52:15 AM by rodneyp »

 

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