Be aware Tickmil UK LTD commits FRAUDE (they falsify data! )

Honestly, you keep defending Tickmills illegal actions, as you probably are an employee of them. I do not need to argue with you, as the case has been tried with FOS extensively. Dispite Tickmills fraude !
-- If you still do not understand, read the FD better ! --
There is a reason they lost and FOS ruled against them.

I did not understand their loopholes. That they have loopholes already says enough about Tickmills Mallpractics. I so happend to be lucky I made screenprints as I was reporting the matter to FCA.

I am just telling you what happened, only to warn you. Not for you to pick a side or go attacking me, it is absurd that you do this. But no matter how much you want to blame me.
That I continued trading with Tickmill DOES NOT justify THEIR illegal actions !
Sorry if u think like this! I have not taken any side but what I said was my observation and neutrally! this was my understanding that their misdeed came to u as 'boon' but later with ur continuation with them is now becoming 'curse'! what u did here to warn was good! i will take care of this broker but understanding ur case, i also wanted to help u by advising u not to go further as the later case is in their favor! what u did in first case is outstanding and may be, u r not understanding its gravity as u were new in trading but being here in this line for several years, i know what u did! snatching the deducted money from a broker is nearly impossible! and thats why with their confidence, they directed u to fos and did not think , u wud really go to them :) but once they lost money, they wanted u to make mistake so that they can recollect all money from u and thats why they allowed u to trade until their reimburse amount achieved and then made the case of closing by terminating business relationship with u which they can do after the first incident but as i told they had the intention to recollect money from u! so they waited for it! had u been little more experienced, u wud not have fallen in their trap! this later case they made very much carefully! so, i don't , u can win this because this time knowingly they did it with understanding if u go for legal settlement whether they cud win! choice is urs! and pl don't be personal , i am nobody for u or for tickmill, take all conversation as ur feedback and input for ur future! bye
 
Sorry if u think like this! I have not taken any side but what I said was my observation and neutrally! this was my understanding that their misdeed came to u as 'boon' but later with ur continuation with them is now becoming 'curse'! what u did here to warn was good! i will take care of this broker but understanding ur case, i also wanted to help u by advising u not to go further as the later case is in their favor! what u did in first case is outstanding and may be, u r not understanding its gravity as u were new in trading but being here in this line for several years, i know what u did! snatching the deducted money from a broker is nearly impossible! and thats why with their confidence, they directed u to fos and did not think , u wud really go to them :) but once they lost money, they wanted u to make mistake so that they can recollect all money from u and thats why they allowed u to trade until their reimburse amount achieved and then made the case of closing by terminating business relationship with u which they can do after the first incident but as i told they had the intention to recollect money from u! so they waited for it! had u been little more experienced, u wud not have fallen in their trap! this later case they made very much carefully! so, i don't , u can win this because this time knowingly they did it with understanding if u go for legal settlement whether they cud win! choice is urs! and pl don't be personal , i am nobody for u or for tickmill, take all conversation as ur feedback and input for ur future! bye

Ok thank you for clarifying!
They directed me to FOS, so I went to FOS. I was not aware that it was virtually impossible to win with FOS. Just thought, they had to take responsibility for their technical problems.
Your perspective of the case is very useful. I have not looked at the entire situation as you mention it and I understand now why they did what they did.
If I had known they were waiting for me to grow my account, and how they carefully followed their "give notice" terms, to collect all my money. I would have stopped trading with them immediately !!!

I am really stunned about all this !

So everyone who has a complaint with Tickmill or even the slightest problem should run to a different broker ASAP !!
 
anyway, don't be disappointed now as u r in ur middle way of legal battle! so, complete it otherwise it wud remain in ur mind always that had i tried with legal settlement, i might have won, why i left it! my advice was, prepare urself for the worst , not be so hopeful like ur first win as this case was purposeful by cunning tickmill! but , u must go for legal battle, don't abstain! win or loss may be decided by fos/ legal team,

u must prepare ur case strongly with all detail with the aim to show that u believed them as ur caretaker because u were trading at their platform and giving notice to close the open trades wud cause u loss and thats why u did not close ! had the positions were in profit, u wud have definitely close the positions and wud have terminate the relation with them by urself! why after 2.5 years, they chose the time to close the positions when all my positions were in 'red'? because it was their pre-plan to trap me with bad intention! if they wanted to close the relation without any reason, then they cud chose a better time, why they wud chose the time when trader was in problem? it clearly showed that their action was premeditated and just misused the condition of terms! they made me financially loss intentionally! i went to fos as per their direction only! what i did wrong in between 2.5 years, let them tell, what was their ground to terminate the relation by giving huge loss other than grabbing my money? so, it was a criminal offence too who i believed as my caretaker! please see my case with humanity so that i cud get my lost money which they deducted by closing my open position! had they given time, my all positions wud be closed with at least little profit! so, their bad intention here has to see by the lawyer and give me justice! 'u will have to be victim by tickmill' as in real case too! yes, they made u victim by grabbing intentionally ur money misusing the conditions at wrong time!
 
@Sophie L,

Let me say this, congratulations on your with with the FOS. I don't work for Tickmill but I am a client and they are one of my favourite brokers. Frankly, accusing people of working for the broker just because they do not take your side breaks down the quality of discussion. Just don't do it.

I wish to simply address one issue in the interest of education - you can take it and use it, or you can reject it, up to you.

Many people believe that you lose money when you close a trade. That is simply not true. If you have a balance of $10 000 account and you have a trade with a $5 000 floating loss, you do not have $10 000 - you have $5 000, Period. You can close your trade and open it again at the same price at another broker - your net worth will remain unchanged(bar the commission & spread cost). The fact that closing a trade results in "crystalising"the loss is a complete fallacy.

To place another perspective - imagine if you could "sell"your account. This account with a balance of $10 000 with the $5 000 floating loss - how much do you imagine someone would be prepared to pay for it?

Before you reply, take off your legal hat and put on your trading hat and give this some serious thought as a trading concept...
 
sorry but I am not a victim that wants to be mistreated. In all fairness, as they are a FCA regulated company, not in my wildest dreams did it occur to me that such a company would behave like this! I live in the Netherlands and for a regulated company in the netherlands to behave like this is really impossible. Guess the same unfortenately does not apply to the UK.
If you think you are any safer in the Netherlands, you have a lot to learn about how otc fx cfds work. If you don't start studying the materials I suggested soon, you will just fall for the same tricks again with another broker. Either that or you might end up in a place like the USA...where you will have large spreads.

Yes I was novice, unexperienced and naive. You win FOS but you still loose.
You may have not been aware of how fx brokerage business model works fully, but I would say 4 years of trading makes you proficient enough to understand some basics of how margin works.

now, out of my curiosity, i am asking u, how a small payment of euro 228 could stop the margin hit which was running at nearly 44k euro loss? had tickmill waited overnight, the account wud have certainly hit margin naturally unless u wud be watching constantly and making such payment at an interval or making a big value payment! here, without prejudice, i can see, tickmill acted first with the assumption that client wud be loosing more had they credited ur small payment which may be for few minutes cud save ur margin hit but ultimately not! so, they did not credit it (kept pending) and allow the account to hit margin and wipe out whole amount as it wud be! having not credited this even small amount had in turn gave u the chance to charge them as wrong doer, even for small time it cud save ur account which hypothetically(even logically) allowed u to make payment further but u know , u cud not do large payment but here, legally ur case was strong due to tickmill mistake & presumptions and it had the support of ur documents(screenshot etc). tickmill had to ultimately compensate u for their mistake!
I was thinking the exact same thing. I suspect that Tickmill wanted the account to margin out intentionally. But at the same time, why was OP trading in such a way as to be so close to the margin call?

PS. and I do not see the point in disclosing my trading history online. What would be the purpose of that?
FPA encourage victims and companies to submit all available evidence to analyze their case in a transparent way. See the rules here:


In your case, you already got some FOS adjudication, which ruled in your favor. But while we don't necessarily need to see the evidence related to the credit card transaction, it is curious that you were 225 EUR away from a margin call, especially considering the leverage in UK now for fx is 1:30 for retail traders since 2019 if not earlier with ESMA directives. So allowing the community to see the full trading record would give us a better idea as to why this was the case.

We have found in the past that those who are reluctant to show their trading statement were later found out to not be properly mitigating losses on their side. Even if the company did do some wrongdoing [e.g. not process a funding payment timely to induce a margin call].

Actually I think you got lucky that FOS investigator caught TickMill pulling a stunt. Otherwise the stop out level would have likely been hit eventually anyways. But I could be 100% wrong also. a complete trading record sorted chronologically by ticket number would help show this.

#RegulatedFool
 
Would you have expected all this this from an FCA regulated firm?

Yes. Regulated fx firms can be some of the worst. Because they can fool more people with the illusion of regulatory protection. The company just has to be a bit sneakier about it. Offshore broker can just be silly with your execution and/or just walk away with your cash.


Also I held open positions with loss. They cannot be closed in an instance, without having to swallow losses unwillingly. I made proposals to them to transfer me to another broker which they refused. I asked them for more time, which they also refused.
Mt4 really made a whole class of retail traders that do not understand basic accounting. Netting mode is the standard accounting method everywhere.

Live equity + margin requirements are the only thing that matters. The account balance number means nothing. So only the equity gains/losses shown in the account are real, especially trading long term. short term (day trading) you would see the account balance be more in sync with equity because you are closing positions constantly.
@compu-forex is correct in this case.


am only trying to warn you aout these malpractices from Tickmill. Instead I feel interrogated and having to defend myself against some stranger who makes all kinds of assumptions about me. I do not have an uncontrollable, compulsive gambling trigger.
You judge me just because this happened to me and make negative assumptions about me. You do not even know me! I AM JUST TRYING TO WARN unexperiened traders this can happen to them.

FPA is more than just a rant board. We try to bring companies and traders together to resolve disputes.

We encourage victims to submit evidence to support their claims. And the community is free to evaluate the evidence and offer their analysis on it. You might be making an assumption that since most companies do scam their clients in some form that FPA members will automatically assume the victim's behavior is without error. But in some cases, the trader can also equally be at fault or could have taken some steps to mitigate loss.

I already acknowledged that TickMill likely did not process deposit intentionally to trigger a stop out. Based on the UK FOS finding + my understanding of their business model.
In regards to the victim compensation, I am not defending the actions of TickMill and mostly agree with the ombudsman's decision. This just reiterates the importance of studying a broker's business model and how they make profits from their clients. This alone might have prevented 95% of heartache the OP experienced.
[fos]...Information on a total of 12 payment processing problems Miss L says she faced between May 2018 and March 2020 (including those of 4 March 2020 and the problem of 8 March 2020 she has complained about). In response to these problems, and as part of its reply to Miss L’s complaint about the 8 March problem, Tickmill said....
[FoS]...Correspondence from Miss L’s bank/card company confirming that after she submitted the payment on 8 March Tickmill had to make an authorization request, but no such request was made so the transaction could not be completed....[snip]
[fos]...The investigator’s second reason was that the card company had confirmed it did not decline the transaction and that Tickmill did not send an authorization request....[snip]
The next reason given by the investigator was that there is screenshot evidence showing that the [225 eur] payment was ‘pending’ and that this matched the other examples in which payments remained pending for a delayed period. In response, Tickmill said all unsuccessful deposit attempts are noted as pending on its system, in order to reflect that there has been a deposit attempt.....
[snip]
....[fos investigator] highlighting that the [225 eur] payment remained ‘pending’ on its [TickMill's] system up to 22 March 2020 and its status does not appear to have changed to ‘failed’ until 16 May 2020; that evidence from the bank/card company was reliable; and that there was a lack of evidence that there was an error by Miss L or by the PSP in the process....
...The system clearly applies a distinction between payments that are pending and those that failed – hence the different respective status categories for either – and I do not find it credible that the word ‘pending’ would have been used to describe ‘all’ unsuccessful payments. Surely the word ‘failed’ would have applied in this respect, otherwise it begs the question – when would it have applied?
I would even argue that TickMill intentionally has their funding workflow setup so that they could trip up clients as needed. So their payment approval workflow was intentionally setup in a way that was ambiguous so that if a client questioned, or if they were investigated formally, they could just say the payment "failed" and it would appear innocent. That conclusion is based on my knowledge of their business model of how they profit from clients + what other people who run brokerages have admitted to me about parts of their workflow + the FOS investigator's own findings.

And i accept you are fortunate the FOS caught the tricks TickMill was doing and was willing to give you the benefit of the doubt. Actually I'm impressed the FOS investigator even considered the payment was not properly processed.



I also accept that traders have some responsibility to mitigate loss. So even with all of the losses and hostile behavior of TickMill since before the stopout (10+ instances according to FoS , after being fully stopped out and in a middle of a legal dispute for losses), you proceeded to reopen positions and trade more???????????? At the same brokerage that you are simultaneously having all this drama with over literally 2 year period since the 44k eur loss occurred??

What were you hoping to accomplish by continuing to trade with a broker that openly mishandled your account funding?

How would you know their payment system problems were resolved? As the exact same problem could occur again (it occurred over 10 times already, one of which "caused" the early stop out).

In regards to the victim compensation, I am not defending the actions of TickMill and mostly agree with the ombudsman's decision. This just reiterates the importance of studying a broker's business model and how they make profits from their clients. This alone might have prevented 95% of heartache the OP experienced.

But i was thinking to myself about how strange that your account(s) was only 225 eur away from margin call/stop out. And that when the stop was hit less than 24 hours from the 225 eur funding attempt (08 March 2020), you had 44k eur loss. The stop outs occurred over a 5 minute period .
[fos]...Account activity evidence showing that other than around two close-outs between 04:46 hours and 04:47 hours on 9 March, the rest of the close-outs in Miss L’s account on this date happened over around a minute between 04:49 hours and 04:50 hours.

Which means that you reached the breaking point of margin on your account near that time anyways.
And you also claim that you are a position trader, so you hold positions for several weeks/months.
However like I said in my review, I won the complaint but them deliberately closing all my open trades for me, without my consent! casued me even more losses. As I am not a day trader, but hold open positions for a long time.

So while I don't have the account history, i did my best to mathematically reconstruct the account open positions at the time. So I made some assumptions about the state of the account:

-> you had an average of 9.0 fx lots open at any given time, You may have opened and closed trades several times in between, but this is a simplified estimation.
-> you had at least -400 pips in negative drawdown.
-> You have 1:30 leverage on the account. (1:20 for gold)
Snag_2113f760.png
-> The account margin stop out level is 50%
Snag_211a86b2.png

-> And off course the stop out to where you had 44k EUR in losses.

So the
-> Total starting equity and or redeposits were likely in excess of 66.5k EUR before you began to open positions that were stopped out. (83k eur for gold/fx minor pairs and 1:20 leverage)

Snag_247f9a57.pngSnag_247fecec.png
Of course this is just estimates. When I have the full track record, a more precise analysis can be made.

If they did not hold a grudge for "loosing" after six months refusing to comply and out of spite forcing even more losses upon me, there would be no second case!

As I stated earlier, Tickmill gave you at least 2 weeks notice that they were discontinuing services to you. They don't need a reason. They just determined not to continue doing business with you. Now if you can show the FOS that cfd brokers are supposed to instead give you more time, then maybe you can win some restitution on that technicality.

But the 225 EUR question from me: Why you would want to stay with a company that treated you so poorly??....is beyond me. You could have closed and reopened positions at a new brokerage. Even as a long-term position trader, at most you would lose the extra commissions paid to reopen all positions and whatever pips movement between the withdrawal of funds from tickmill to the deposit at the new broker. This is simple arithmetic.

** As I read now you are really desperately trying to prevent me from another case for the second time now ! **
and you disclose information a regular reader would not be able to know -- so STOP FAKING - Dear Tickmill EMPLOYEE !! (probably legal)
I am certainly not TickMill employee. And there is nothing wrong with exercising your rights to complain to the UK FOS. Perhaps there is some FCA rule that TickMill was supposed to provide more time to terminate relationship with clients if they have open positions. And if they are willing to award you more funds, then so be it.

But wasn't it easier and less stressful to simply refrain from trading with the company? If tickmill was so bad, why did you continue trading with them!??! Why are we opening positions with them? Especially after a 44k loss that they were disputing. It's been 2 years since that incident has occurred. Why would you continue opening new positions? I think everyone reading this would like to hear your rationale for this.

You judge me just because this happened to me and make negative assumptions about me. You do not even know me! I AM JUST TRYING TO WARN unexperiened traders this can happen to them.

I can only judge your behavior on the forum and the evidence you present. Are we allowed to judge the evidence and ask questions?

So for the sake of full transparency, are you willing to upload a complete history statement?
Again, here is the link to properly generate this:

Follow the video examples exactly, and you should get the complete history and attach the zip file here. It is not difficult if you follow the steps carefully; pause the video if needed.

And if your account is locked out for some reason, you should at least have the account statements submitted for the FOS investigation. And the daily confirmation email for July 1st, 2022 when TickMill closed your trades.
 

Attachments

  • UK-FOS-Ombudsman-Decision_DRN-3148143.pdf
    120.1 KB · Views: 4
If you think you are any safer in the Netherlands, you have a lot to learn about how otc fx cfds work. If you don't start studying the materials I suggested soon, you will just fall for the same tricks again with another broker. Either that or you might end up in a place like the USA...where you will have large spreads.


You may have not been aware of how fx brokerage business model works fully, but I would say 4 years of trading makes you proficient enough to understand some basics of how margin works.


I was thinking the exact same thing. I suspect that Tickmill wanted the account to margin out intentionally. But at the same time, why was OP trading in such a way as to be so close to the margin call?


FPA encourage victims and companies to submit all available evidence to analyze their case in a transparent way. See the rules here:


In your case, you already got some FOS adjudication, which ruled in your favor. But while we don't necessarily need to see the evidence related to the credit card transaction, it is curious that you were 225 EUR away from a margin call, especially considering the leverage in UK now for fx is 1:30 for retail traders since 2019 if not earlier with ESMA directives. So allowing the community to see the full trading record would give us a better idea as to why this was the case.

We have found in the past that those who are reluctant to show their trading statement were later found out to not be properly mitigating losses on their side. Even if the company did do some wrongdoing [e.g. not process a funding payment timely to induce a margin call].

Actually I think you got lucky that FOS investigator caught TickMill pulling a stunt. Otherwise the stop out level would have likely been hit eventually anyways. But I could be 100% wrong also. a complete trading record sorted chronologically by ticket number would help show this.

#RegulatedFool
Dear all. thank you for all considering your thoyght. FOS has asked me the same questions and I have showed everything to FOS. It was not a matte of Luck. as the FD in summary states. It is not my intention to trial and repeat my entire first complaint again here online. As the entire situation is tiresome as it is. I want to focus on the second case.
 
anyway, don't be disappointed now as u r in ur middle way of legal battle! so, complete it otherwise it wud remain in ur mind always that had i tried with legal settlement, i might have won, why i left it! my advice was, prepare urself for the worst , not be so hopeful like ur first win as this case was purposeful by cunning tickmill! but , u must go for legal battle, don't abstain! win or loss may be decided by fos/ legal team,

u must prepare ur case strongly with all detail with the aim to show that u believed them as ur caretaker because u were trading at their platform and giving notice to close the open trades wud cause u loss and thats why u did not close ! had the positions were in profit, u wud have definitely close the positions and wud have terminate the relation with them by urself! why after 2.5 years, they chose the time to close the positions when all my positions were in 'red'? because it was their pre-plan to trap me with bad intention! if they wanted to close the relation without any reason, then they cud chose a better time, why they wud chose the time when trader was in problem? it clearly showed that their action was premeditated and just misused the condition of terms! they made me financially loss intentionally! i went to fos as per their direction only! what i did wrong in between 2.5 years, let them tell, what was their ground to terminate the relation by giving huge loss other than grabbing my money? so, it was a criminal offence too who i believed as my caretaker! please see my case with humanity so that i cud get my lost money which they deducted by closing my open position! had they given time, my all positions wud be closed with at least little profit! so, their bad intention here has to see by the lawyer and give me justice! 'u will have to be victim by tickmill' as in real case too! yes, they made u victim by grabbing intentionally ur money misusing the conditions at wrong time!
Thank you for your thoughts, itis exactly as I felt it is!
 
@Sophie L,

Let me say this, congratulations on your with with the FOS. I don't work for Tickmill but I am a client and they are one of my favourite brokers. Frankly, accusing people of working for the broker just because they do not take your side breaks down the quality of discussion. Just don't do it.

I wish to simply address one issue in the interest of education - you can take it and use it, or you can reject it, up to you.

Many people believe that you lose money when you close a trade. That is simply not true. If you have a balance of $10 000 account and you have a trade with a $5 000 floating loss, you do not have $10 000 - you have $5 000, Period. You can close your trade and open it again at the same price at another broker - your net worth will remain unchanged(bar the commission & spread cost). The fact that closing a trade results in "crystalising"the loss is a complete fallacy.

To place another perspective - imagine if you could "sell"your account. This account with a balance of $10 000 with the $5 000 floating loss - how much do you imagine someone would be prepared to pay for it?

Before you reply, take off your legal hat and put on your trading hat and give this some serious thought as a trading concept...
Ok, I do not fully understand. My balance was (figures are just example) 100 and floating los was -90, so I refused to close my open trades and take the loss of -90. Then they took over the account and closed all the open trade positions, so there really only was 10 left on the account and I had to swallow the 90 loss. I could only withdraw the reaming 10. Then how could I reopen again the same trades at the same price with another trader?

I did not know it is possibble to sell your account, but that would have been an option which tickmill denied me. Like I said I asked Tikmill to give me time to transfer (not sell) to another broker or give me extra time, or like the other commentator said, if given me time the positions could have been closed with a lttle profit or 0 loss.

But it all does not matter anymore, as I stopped trading after this very bad experience and reading others experiences with brokers.

Thank you for your thoughts anyway
 
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