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Tickmill oil data

  • #1
  • First Post: Apr 23, 2020 9:35am Apr 23, 2020 9:35am
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Tickmill manipulate the price of WTI on its platform. Now, it's about 17:00 (GMT+3). The crude2006 is 17.5, the xtiusd can be a bit lower but I don't think it can be 8. In addtion, wti should show the similar pattern with crude2006. But the wti on tickmill does not move at all, or slightly drop. I bought 200 barrels, which should be 400 dollars in profit now. However, on tickmill, I made nothing.

I think tickmill is Suspicious even though it claims it's regulated by fca.

I know it's a tough time to trade oil for both traders and platforms. The most common way to reduce risk for a platform is to suspend the oil-related market. But no platform manipulates data like tickmill does.
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  • #2
  • Apr 23, 2020 9:47am Apr 23, 2020 9:47am
By the way, the customer service is rude. She does not answer my question and ends the live chat. I have taken a screenshot of the chat history and will post it here and other websites if there is no satisfying reply.
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  • #3
  • Apr 27, 2020 1:52am Apr 27, 2020 1:52am
Quoting heil
{image} Tickmill manipulate the price of WTI on its platform. Now, it's about 17:00 (GMT+3). The crude2006 is 17.5, the xtiusd can be a bit lower but I don't think it can be 8. In addtion, wti should show the similar pattern with crude2006. But the wti on tickmill does not move at all, or slightly drop. I bought 200 barrels, which should be 400 dollars in profit now. However, on tickmill, I made nothing. I think tickmill is Suspicious even though it claims it's regulated by fca. I know it's a tough time to trade oil for both traders and platforms....
Gosh, did you bother to clarify what is their WTI pricing based on before posting this nonsense? Do you really think brokers specifically target certain traders to force them into bankruptcy and enrich traders with the opposite bets?

CFD WTI pricing usually based on oil futures contracts traded on NYMEX. Expiration dates start from June 2020 (nearest-term contract) and go onwards https://www.cmegroup.com/trading/ene...eet-crude.html. Front-end contracts are more volatile because of uncertain short-term supply-demand environment, longer contracts move more or less stable. Brokers or their LPs may prefer to avoid using near-term contracts for WTI pricingbecause of too much volatility and avalanche of complaints in case the following near-term contracts repeat April 20 story.
  • #4
  • Apr 27, 2020 2:10am Apr 27, 2020 2:10am
Quoting bottomhigh
{quote} Gosh, did you bother to clarify what is their WTI pricing based on before posting this nonsense? Do you really think brokers specifically target certain traders to force them into bankruptcy and enrich traders with the opposite bets? CFD WTI pricing usually based on oil futures contracts traded on NYMEX. Expiration dates start from June 2020 (nearest-term contract) and go onwards https://www.cmegroup.com/trading/ene...eet-crude.html. Front-end contracts are more volatile because of uncertain short-term...
Of course I know wti price is based on oil futures. But can you tell me which oil contract is as low as $8 per barrel?
No trader will profit from tickmill oil because there is no volatility. The high swap fee will dry up both longs and shorts.
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  • #5
  • Apr 27, 2020 6:02am Apr 27, 2020 6:02am
A friend of mine encountered abnormal leverage change. He won tens of grands on EURCHF and got "gubbed".
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  • #6
  • Apr 27, 2020 7:52am Apr 27, 2020 7:52am
Quoting heil
But can you tell me which oil contract is as low as $8 per barrel?
I guess the formula for CFD pricing is somewhat more complicated than x=y or some linear transformation.

Quoting heil
No trader will profit from tickmill oil because there is no volatility. The high swap fee will dry up both longs and shorts.
This lunch would be too "free". Which dealer (LP) would take the opposite side for your bet in such conditions? With good pricing, WTI short would be a no-brainer bet really. And brokers simply transmit our orders to LPs, I'm pretty sure no broker would attempt to b-book WTI now, too risky.
  • #7
  • Apr 27, 2020 8:15am Apr 27, 2020 8:15am
Quoting bottomhigh
{quote} I guess the formula for CFD pricing is somewhat more complicated than x=y or some linear transformation. {quote} This lunch would be too "free". Which dealer (LP) would take the opposite side for your bet in such conditions? With good pricing, WTI short would be a no-brainer bet really. And brokers simply transmit our orders to LPs, I'm pretty sure no broker would attempt to b-book WTI now, too risky.

It's not risky at all if they can manipulate the price. I don't know what algorithm creates a pattern like this since the wti on NYMEX is extremely volatile recently. You see, the WTI price on Tickmill has not fluctuated since 21st, April. If there is no fluctuation, there is no risk for the platform. I'm pretty sure the orders have not been sent to LPs. The customer service told me that the WTI is connected to a "secret" exchange.

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  • #8
  • Apr 27, 2020 11:00pm Apr 27, 2020 11:00pm
Quoting heil
{quote} It's not risky at all if they can manipulate the price. I don't know what algorithm creates a pattern like this since the wti on NYMEX is extremely volatile recently. You see, the WTI price on Tickmill has not fluctuated since 21st, April. If there is no fluctuation, there is no risk for the platform. I'm pretty sure the orders have not been sent to LPs. The customer service told me that the WTI is connected to a "secret" exchange. {image} {image}
Remember that CFD on WTI is basically "derivative on derivative" with futures as underlying asset. If liquidity is draining fast on June WTI contract, the liquidity on CFD contracts should be draining even faster because liquidity providers (dealers) take measures to not find themselves on the wrong side of the market. I should repeat, after May 2020 futures expiry, shorting next contract was a no-brainer trade because the issue with oil storage in Cushing remained unresolved. CFD dealers are protecting themselves because market conditions are abnormal. While brokers simply transmit prices from dealers to their clients.

Also I lurked Tickmill website and found this press-release maybe it can clarify matters to you https://www.tickmill.com/news/import...uring-contango
  • #9
  • Apr 28, 2020 12:09am Apr 28, 2020 12:09am
Quote from the press-release "Depending on the market conditions going forward, we may rebase our Cash pricing to other Future contracts to ensure an orderly trading environment for our clients."

My understanding is that the press-release admits tickmill manipulate the WTI price by changing basis contracts.

Logically, the spot price should follow the front contract. (Crude Jun 20, in this case). If Tickmill changes the basis contract, it should notify all its customers by email in advance. In fact, the notification is published on April 27th, six days later than the change actually happened. Investor may suffer another great lose if ticmkill rebase the wti price without notice.
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  • #10
  • Edited 12:00pm Apr 28, 2020 11:43am | Edited 12:00pm
i believe the pricing show is not reflecting WTI fut, but WTI.spot

just this once, i shall spend the time explaining the discrepancy.

1) CFDs might NOT be derivatives of Future's front contract Period!
2) CFDs can reflect spot prices.
3) unless explicitly stated, do not assume (go check tickmill's product spec, if its derivative of Futs, they will declare rollover date. if none, its spot.)
4) in normal market conditions, CFDs and Fut front pricing seems relatively similar, giving the impression they are correlated.
5) in abnormal market conditions(like now), spot and Fut front pricing can and will rear its ugly head, by diverging in pricing, this is called premium.
6) premium increase = more expensive for institutionals firms with exposure to oil to hedge.

if you wanna trade futures. find a futures broker, that way you are certain. there's 2 sides to the coin, trading via MT4/retail brokers only allows you to see 1 side of it, the secondary market where proper participants turn to for hedges. not trade directly off(retail traders)

i've said this before umpteen times on this forum and i'll say it again.
buy futures, hedge option, hedge spot.. think a lil deeper, if they are all one in the same product/pricing, why do institutions even bother.
  • #11
  • Apr 29, 2020 2:01am Apr 29, 2020 2:01am
Quoting Bicarus
i believe the pricing show is not reflecting WTI fut, but WTI.spot just this once, i shall spend the time explaining the discrepancy. 1) CFDs might NOT be derivatives of Future's front contract Period! 2) CFDs can reflect spot prices. 3) unless explicitly stated, do not assume (go check tickmill's product spec, if its derivative of Futs, they will declare rollover date. if none, its spot.) 4) in normal market conditions, CFDs and Fut front pricing seems relatively similar, giving the impression they are correlated. 5) in abnormal market conditions(like...
Brilliant post, very good explanation, thanks. Hope the lesson is learned and traders will pay attention to broader market.
  • #12
  • May 5, 2020 4:50pm May 5, 2020 4:50pm
i have islamic accunt with tickmill that mean no swap. but after 20 april they charge 0.04 $ per barel .
and i can not open new deal on oil.
  • #13
  • May 10, 2020 8:12am May 10, 2020 8:12am
Quoting Bicarus
i believe the pricing show is not reflecting WTI fut, but WTI.spot just this once, i shall spend the time explaining the discrepancy. 1) CFDs might NOT be derivatives of Future's front contract Period! 2) CFDs can reflect spot prices. 3) unless explicitly stated, do not assume (go check tickmill's product spec, if its derivative of Futs, they will declare rollover date. if none, its spot.) 4) in normal market conditions, CFDs and Fut front pricing seems relatively similar, giving the impression they are correlated. 5) in abnormal market conditions(like...
The price should reflect WTI spot by default. In fact, the price on Tickmill is the same as WTI spot. But Tickmill changed the base contract about two weeks ago without notifying the customers. That's the main reason that I claim tickmill manipulates the price. The WTI spot has a completely different pattern with WTI spot.

I had a long on WTI spot and a short on Crude2006 at that time. It should be a winning trade but tickmill ruined it.
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  • #14
  • May 10, 2020 8:18am May 10, 2020 8:18am
Quoting bottomhigh
{quote} Brilliant post, very good explanation, thanks. Hope the lesson is learned and traders will pay attention to broader market.
Agree. I have abandoned tickmill and moved on. Find a bug in Hong Kong Exchange and I am killing it! Hope they don't fix the bug.
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  • #15
  • May 11, 2020 1:54am May 11, 2020 1:54am
Quoting bel3ouchi
i have islamic accunt with tickmill that mean no swap. but after 20 april they charge 0.04 $ per barel . and i can not open new deal on oil.
Because the costs have increased and somebody has to pay for them. Why does broker should do it for you because of religious preferences?
  • #16
  • May 11, 2020 4:27am May 11, 2020 4:27am
besides Tickmill, the oil price is still low, are there any other brokers?
  • #17
  • May 16, 2020 6:10am May 16, 2020 6:10am
Axitrader, Pepperstone... have the same price with Tickmill!!!

Does any one know the their price come? It doesn't reflect the oil market (spot)!

I have got buy 1000 barrel and now stuck in this fraud price! (Axitrader broker)
  • #18
  • May 17, 2020 10:38am May 17, 2020 10:38am
I also have a big loss with the Axitrader,
Pls refer to my attached.
From 20/4 till now the price is still around 8-10 usd (very diffrent with other brokers)
I loss alot of money because of the way they manipulated the price and with the swap too high (9-11 times)...very confused at that time, I dont know what happended, so have to close position on 24/04/2020
If I play with others broker..I will win...How can?
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  • #19
  • May 27, 2020 2:07am May 27, 2020 2:07am
Quoting Thatkong
I also have a big loss with the Axitrader, Pls refer to my attached. From 20/4 till now the price is still around 8-10 usd (very diffrent with other brokers) I loss alot of money because of the way they manipulated the price and with the swap too high (9-11 times)...very confused at that time, I dont know what happended, so have to close position on 24/04/2020 If I play with others broker..I will win...How can? {image}
The price still goes very slow. What a price. Brave Axitrader, Tickmill...
  • #20
  • May 27, 2020 4:29am May 27, 2020 4:29am
I can not understand what did they do?

Axitrader were Changed Usoil CFD to the 2020 December Future pricing, with the discounted factor is 0.2725 – without information and agreed from trader, Swap increase 11 times since 22/4/2020...o force traders close position.
I had request 3 question but not yet get the reply email!

- Who is your Liquidity provider ? (Before and after 21/04/2020)
- Did you informed to Traders the changing at 21/04/2020? (Changed Usoil CFD to the 2020 December Future pricing, with the discounted factor is 0.2725) .
-Is this the legal rights of axitrader (Change usoil price to 2020 december future pricing with the discounted factor is 0.2725)? And where is the article in which Chapter of the Contract?

Axitrader is terrible!
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