Problem Tickmill SCAM! Offers invalid WTI price in close only mode, wrong price execution for all bigger trades

[Deltoid88]

@Ismagilov Ruslan @FxMaster indeed, your reaction is needed FPA. Tickmill performs undergoing scam here, your help and reaction is needed.

 

[acertablet]

I can feel you. The lowest oil price I found on all the different brokers is $30 right now, and not $11. And indeed

You also didn't read my whole post I think. I know what your problem is and I guess no one can help you with this. Maybe you should ask the oil exchange to which Tickmill is connected or maybe their liquidity providers (banks). Sorry, but it is like it is. I can also feel your pain with that. My brokers also didn't allow me to catch any trade below $25 in Brent Crude Oil during these crazy days. Loads of profits not being realized.

your broker is doing the right thing, during corona, businesses and demand for oil is low, not a lot of consumer needed oil at that time, maybe oil producer doesnt need to sell their physical product below their profit margin, this translates might no need to execute sell in futures, without someone sell, you cant go long/buy on your trading platform either. liquidity dries up

unlike tickmill/cmc/admiral market, they continue to let trader trade by market making, transaction only conducted in-house not to the real market, the consequences is dislocate the price($11 vs $33 difference) from futures/physical oil asset price, those broker also increase swap by -220 plus % for those holding either long or short

 

[marco_mmbiz]

your broker is doing the right thing, during corona, businesses and demand for oil is low, not a lot of consumer needed oil at that time, maybe oil producer doesnt need to sell their physical product below their profit margin, this translates might no need to execute sell in futures, without someone sell, you cant go long/buy on your trading platform either. liquidity dries up

unlike tickmill/cmc/admiral market, they continue to let trader trade by market making, transaction only conducted in-house not to the real market, the consequences is dislocate the price($11 vs $33 difference) from futures/physical oil asset price, those broker also increase swap by -220 plus % for those holding either long or short

Yes, that's what I thought aswell. Like I said: it is like it is. We can't really do anything against it. We just get to know all the brokers a bit better during a crisis like that. So, for the future we can learn from it, by using another broker or by just being prepared for stuff like that.

 

[Deltoid88]

it is like it is.

It is like it is you say? Well, you are free to allow scam like this to go unpunished, but I am not going to allow it! Scam and fraudulent activity must be punished, always! There are no exceptions! This is pure scam what Tickmill is doing, and they damage me for 36 K as we speak, it is not going to stay like this! Regulators are informed, police as well. If Tickmill is not going to solve this on only fair way possible by paying me what they owe me, then I am going to take what is mine from them by force, by help of authorities. It will take some time, but I will get there.

 

[Deltoid88]

unlike tickmill/cmc/admiral market, they continue to let trader trade by market making, transaction only conducted in-house not to the real market, the consequences is dislocate the price($11 vs $33 difference) from futures/physical oil asset price, those broker also increase swap by -220 plus % for those holding either long or short

That is exactly what they do, and it is pure scam, which is going to be revealed to regulators and police. I am going to enjoy hunting them down and taking my funds.

I strongly advise all traders to stay away from Tickmill. This is not broker you are looking for.

 

[oscarra]

I strongly advise all traders to stay away from Tickmill. This is not broker you are looking for.

What’s up with Uk Ombudsman, are they operative

All CFD Providers are Bucket-Shops, some are just worst then others, what you see here presents Market Risk for them been forwarded to their customer traders…. typical, when stuff starts to move the hard way, otherwise they go bust in no time specially the small shops, there are no LP all comes from a sharp pen….. one is trading against the house of course

…on their last statement it say’s….Online financial services provider and as a matched principal facilitator to its customers in CFD’s on currency pairs, indices, commodities and bonds

https://beta.companieshouse.gov.uk/company/09592225/filing-history

 

[Deltoid88]

What’s up with Uk Ombudsman, are they operative

Thank you for interest about my case.

Yes, FOS are operative, but slower then usual due to corona virus. I have made complaint already, waiting now to be processed. I am in contact with them and with FCA directly about this. Tickmill is going to pay for this scam!

 

[Ozays]

I got the same issue. What Tickmill does is not clearly the right thing! What if they changed my contract as December 2030 or December 2022 contract for me? Would I have to wait for 2030? 2022?

They should have at least let us take profit of that contracts we ve already made profit from! But theres nothing...

 

[Deltoid88]

I got the same issue. What Tickmill does is not clearly the right thing! What if they changed my contract as December 2030 or December 2022 contract for me? Would I have to wait for 2030? 2022?

Exactly! If they change model of pricing, while positions are still opened, it is same like they have changed instrument trader was trading with. Completely unacceptable!

 

[acertablet]

just file a lawsuit to broker who still trading oil at $11, for 2 simple reason.
- no oil seller in the market will sell at $11 now. oil price right now above $30
- if $11 is not refer to oil, but still using WTI or XTI name, broker are using improper name to mislead trader