Is Tickmill Legit? Can Tickmill Be Trusted?

Is Tickmill Legit?

Tickmill Review

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Tickmill is a global forex and contract for differences (CFD) broker that offers competitive commission-based pricing for professionals through its VIP and Pro accounts. The company is regulated by several financial authorities globally. Therefore, it’s considered to be a safe broker.

Additionally, to ensure security and transparency, Tickmill keeps client funds in segregated accounts with trusted financial institutions.

This means that if a client deposits money into their Tickmill trading account, their funds are kept in a bank that has enough capital to accommodate withdrawal wishes, even if, for some reason, Tickmill goes out of business or loses money.

As an extra layer of security, clients are covered by the Financial Services Authority of Seychelles (FSCS) with investments up to £50,000 (approximately $62,000 USD).

Is Tickmill Legit in My Country?

Tickmill accepts clients from many parts of the world. There are only a few exceptions, with the most notable being the United States, Canada, and Japan.

Is Tickmill Regulated?

Tickmill is a highly regulated MetaTrader broker. Tickmill is authorized and regulated by several authorities, including the UK Financial Conduct Authority the Financial Services Authority of Seychelles (FCSC), the Cyprus Securities and Exchange Commission (CySEC), the South African Financial Sector Conduct Authority (FSCA) and the Financial Services Authority of Labuan Malaysia (LFSA).

How Does Tickmill Protect Investors Funds?

Tickmill is regulated as a Securities Dealer by the Seychelles Financial Services Authority (FSA). This means that their internal systems comply with the FSA. Therefore, clients’ funds are held in segregated accounts to protect their assets.

In addition to segregated accounts, Tickmill also has technological and cybersecurity measures in place for protecting order flow, client data, and payment details. To protect client information and data, the platform has also implemented advanced data security measures, including encryption and regular backups.

Plus, investors in the UK, are insured for up to GBP 85,000 under the Financial Services Compensation Scheme. Additionally, the Investor Compensation Fund covers European traders for up to EUR 20,000 per account.

Furthermore, clients who sign up with Tickmill can also benefit from negative balance protection. So, they won’t be responsible for any losses from trading that amount to more than what they have available in their trading accounts.

Tickmill Background

Founded in 2014, Tickmill is an international CFD and forex brokerage that’s authorized and regulated by several financial authorities in various jurisdictions. The platform works with top-tier liquidity providers, allowing customers to take advantage at the lowest spreads, with low risks.

A key feature that makes Tickmill stand out from other brokers is the low commission fees. This allows clients to minimize the transaction cost, regardless of their trading strategy.

Account Types

Tickmill offers many account types, in addition to demo accounts. Trading conditions improve as clients move up the account tiers.

Tickmill also offers an Islamic account, which allows Muslim traders to trade on the markets without breaking their faith. An Islamic account prohibits the accumulation, collection, and payment of interest rates.

Market Instruments

Tickmill supports a variety of trading instruments, including forex, stock indices, CFDs, oils, precious metals, bonds, and cryptocurrencies.

Cryptocurrenices available for trading on Tickmill include:

Trading Platforms

Tickmill supports trading on MetaTrader 4 and MetaTrader 5 platforms, which are available to download on mobile devices. Tickmill also has its own Web Trader, which gives clients a reliable and intuitive interface, with encryption for the secure transmission of data.

Tickmill Fees and Charges

As mentioned above, Tickmill’s fees are relatively low. They typically don’t charge a brokerage fee like most brokers. And if they do, it’s usually a very insignificant amount. Therefore, you’ll be able to trade frequently without having to worry about high fees.

Tickmill spreads start from 0.13 pips on EUR/USD, with the all-in cost equating to 0.53 pips with a round-turn (RT) standard lot commission of 0.4 pips. For Pro accounts, 0.07 is the typical spread for EUR/USD, with the all-in cost coming up to 0.47 pips when factoring in the RT commission equivalent of 0.4 pips ($2 per side).

When you trade on Tickmill, you also won’t have to worry about deposit, withdrawal, account maintenance, or inactivity fees.

Customer Support

Tickmill has a team that’s available around the clock (24/5, M-F) to provide professional support via email, phone, and live chat. Tickmill’s customer support team also supports international languages through email, phone, and live chat.

Education

Tickmill offers an extensive range of educational content, covering a variety of subjects. For example, the platform offers a downloadable ebook, carefully curated webinars, daily market insights, seminars, video tutorials, regularly updated technical and fundamental analysis articles, and more.

Summary: Is Tickmill a Scam or Safe?

Tickmill is dedicated to protecting the data and funds of its clients through extensive cybersecurity measures and segregated accounts. It’s also regulated and authorized in various jurisdictions by several financial regulatory bodies. Therefore, Tickmill is considered a safe and reliable broker for investors.