Is Tickmill Regulated in Germany? Is it Legit? - TU Expert review
Tickmill is a regulated Forex broker supervised by financial authorities in. The broker adheres to the standards established by its regulators, ensuring a secure and transparent trading environment. Tickmill countries of regulation:
| Regulator | Full name | Country |
|---|---|---|
| FCA UK | Financial Conduct Authority | United Kingdom |
| CySec | Cyprus Securities and Exchange Commission | Cyprus |
| DFSA | Dubai Financial Services Authority | Dubai |
| FSCA SA | Financial Sector Conduct Authority of South Africa | South Africa |
| FSA (Seychelles) | Financial Services Authority of Seychelles | Seychelles |
Is Tickmill regulated in Germany? Broker’s license
Security (Trader’s Protection)
Information
The Tickmill Group is regulated by the Seychelles Financial Services Authority (SFSA) and the UK Financial Conduct Authority (FCA). The broker is also regulated by the Cyprus Securities and Exchange Commission (CySEC), the Labuan Financial Services Authority (Labuan FSA) and the Financial Sector Conduct Authority (FSCA) in South Africa.
Therefore, Tickmill operates under the regulations of the regulators. This provides the company and its customers with clearly defined rights and obligations, and guarantees the safety of funds.
👍 Advantages
- Customers’ funds are kept separately from the company’s accounts and are not available for use by the broker
- Protection against negative balance
- Tickmill cooperates with well-established and reputable banks
- The broker is a member of the compensation fund for ICF investors. The insurance coverage in case of the broker’s bankruptcy is up to €20,000.
👎 Disadvantages
- Regulators consider collective claims and do not act as judicial organizations. Private traders are unlikely to get help from regulators in any disputable situation
Is Tickmill regulated in Germany? Broker’s license
Tickmill regulation review
| Regulator | Country | Regulation level | Investor Protection Fund |
|---|---|---|---|
|
FCA UK
|
United Kingdom | Tier-1 | Up to £85,000 |
|
CySec
|
Cyprus | Tier-1 | Up to €20,000 |
|
DFSA
|
Dubai | Tier-2 | No specific fund |
|
FSCA SA
|
South Africa | Tier-2 | No specific fund |
|
FSA (Seychelles)
|
Seychelles | Tier-3 | No specific fund |
Understanding Forex Regulation Levels
When choosing a Forex broker, their regulatory framework plays a pivotal role in ensuring trust and security. Below is an overview of the different regulatory tiers:
-
Tier-1 Regulators:
These authorities are globally recognized for their strict oversight and high compliance standards. They prioritize trader safety, financial transparency, and overall market stability. Notable examples include the FCA in the United Kingdom and ASIC in Australia. -
Tier-2 Regulators:
While not as stringent as Tier-1, these regulators enforce solid compliance protocols that provide traders with a fair degree of security and reliability. -
Tier-3 Regulators:
Often limited to simple registration processes, Tier-3 regulators operate in jurisdictions with minimal oversight. Brokers under Tier-3 regulation face fewer compliance demands, offering traders less protection.
Short summary about the broker Tickmill
Tickmill is a reputable broker offering access to trading Forex, stock indices, commodities, bonds, and cryptocurrencies. Furthermore, the broker boasts an extensive selection of over 500 stock CFDs.
There are three account types: Classic Account with spreads from 1.6 pips and no commission, and two Raw Accounts with spreads from 0 pips and a commission from $3 per lot. All accounts require a minimum deposit of $100 and provide a maximum leverage of 1:1000.
The broker also provides a variety of useful tools, such as Acuity Trading, Signal Centre, and Capitalise.ai, which utilize AI to offer valuable market insights and trading signals.
Tickmill's regulation by the FCA and CySEC ensures the safety and security of client funds.
| 💰 Account currency: | Tickmill.EU - USD, EUR, PLN, CHF, GBP. Tickmill.com - USD, EUR, GBP. |
| 🚀 Minimum deposit: | 100 US dollars |
| ⚖️ Leverage: | Tickmill.EU - to 1:30/1:300. Tickmill.com - to 1:1000 |
| 💱 Spread: | from 1.6 pips for the Classic account and from 0 pips for Raw account |
| 🔧 Instruments: | Instruments include currency pairs, commodities market assets, stock indices, stocks, bonds, cryptocurrencies and Capitalise.ai |
| 💹 Margin Call / Stop Out: | 100% and 30% |
Pros and cons of Tickmill
👍 Advantages of trading with Tickmill:
•spreads from 0 pips;
•any strategy is allowed;
•protection against negative balance;
•mobile app trading platform.
👎 Disadvantages of Tickmill:
•the customer support works only 5 days a week from 7:00 to 16:00 GMT;
•relatively small choice of currency pairs;
•there is no cent account;
•there is no trust management;
Why is it important for a broker to have the license in Germany?
A financial license is the key document for any broker. It confirms that the company complies with the requirements of the financial regulator and observes the law. It is important for traders to choose a broker registered their jurisdiction for the following reasons:
-
Any claim is filed at the place of the broker’s registration. Accordingly, in case any dispute arises, it will be easier for the trader to file a claim.
-
A license issued in Germany guarantees that the broker operates in compliance with the laws of this country and reports to the local regulatory authorities.
-
Traders can claim compensation under the government programs of deposit guarantees in case the broker experiences financial problems.
It is also possible to choose a broker that is not regulated in Germany. In that case, however, the company must have a license from a reliable regulator, for example of an EU country, the UK, USA, Australia, etc.
Brokers that are similar to Tickmill
In addition to Tickmill, also other brokers from this jurisdiction have the license of Germany. Tickmill has many competitors, and before you start working with this broker, you need to compare it to other companies. TU analysts have prepared a comparison of brokers that operate in the Germany market and have a license of this or another reliable jurisdiction.
Comparison of Tickmill with other Brokers
| Tickmill | Bybit | Eightcap | XM Group | VT Markets | FxPro | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MT5, WebTrader, Tickmill Trader |
MetaTrader5 |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
MetaTrader4, MetaTrader5, VT Markets App, Web Trader+ |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
Min deposit |
$100 |
No |
$100 |
$5 |
$50 |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
Yes |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
No deposit bonus |
$30 |
No |
No |
No |
No |
No |
Cent accounts |
No |
No |
No |
No |
No |
No |
Is it safe to trade with Tickmill in Germany?
Tickmill is quite popular in Germany. The broker does not have a license of the local financial regulatory authority, but it is regulated in a reliable jurisdiction. Therefore, this company can be trusted. The trading conditions of Tickmill are rather beneficial compared to competitors. Accordingly, trading with this company is a good decision.
FAQ
How do I check a broker’s license?
Brokers should provide their license on their official website. It is also recommended to check it on the official website of the financial regulatory authority.
Does a broker need to have an official representative office in Germany?
Yes. According to the rules of Germany, brokers must have an office in Germany. This is a mandatory condition for obtaining the license.
Can the license issued by Germany be considered reliable protection against fraud?
Yes. The rules of the financial regulator of Germany are very strict, which makes obtaining a license in this jurisdiction extremely difficult for scammers.
What kind of information should a broker provide for traders?
On their official websites, brokers must provide the name of the managing company, r egistration certificate, legal address and internal regulatory documents.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.