Tickmill India Review 2024 - TU expert opinion
Is the Forex market legit in India?
Forex trading is legal in India. Anybody can become a trader. However, there are important nuances to consider. In particular, you can trade in the financial market in India only with a regulated broker. The Securities and Exchange Board of India (SEBI) is the financial regulatory body of the country. Legal brokers offer access to trading currency pairs and Forex options. Under the SEBI rules, the following currency pairs can be traded in India:
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EUR/INR
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GBP/INR
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JPY/INR
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USD/INR
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EUR/USD
Other currency pairs and also CFDs are officially prohibited in India. Therefore, such instruments can be found only at offshore brokers. However, trading with offshore brokers could lead to big issues with the tax authorities.
How to Trade Forex in India
In order to trade on Forex in India, you are not required to obtain some special status. You need to choose a broker, visit its website and register. Verification of trading accounts is mandatory for traders from India. After that, you can fund your account and start trading.
Our Evaluation of Tickmill
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Tickmill is one of the top brokers in the financial market with the TU Overall Score of 8.04 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
Tickmill is a suitable broker for both professional traders and novices. The company is good for robotic trading as well as for short-term strategies.
Detailed Review of Tickmill in India
Tickmill is a good choice for traders from India. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
Tickmill is a brokerage company that attracts traders with low spreads and comfortable trading conditions. The company focuses on innovations, allowing customers to trade not only manually, but also using EAs and copy trading. A fairly extensive list of CFD trading instruments includes not only currency pairs but also stocks (Nvidia stock, Apple stock, Google stock, Tesla stock etc.) indices, commodities, cryptocurrencies and bonds.
Tickmill is regulated by the Seychelles Financial Services Authority, 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. All this is a guarantee of the reliability and safety of funds for a trader.
Advantages of Tickmill for trading in India
Traders Union analysts conducted a detailed analysis of Tickmill for traders from India. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
good liquidity;
Tickmill Ltd is regulated by the Financial Services Authority of Seychelles ;
good trading conditions: three types of accounts and low spreads;
a variety of CFD trading instruments: forex, stocks, cryptocurrencies, commodities, indices, and bonds;
an abundance of educational materials: allows a novice trader to familiarize himself with the peculiarities of trading with different instruments quickly;
the protection against a gap will not allow a trader to drain his deposit: if the amount on the account reaches the minimum, set by the broker, the transaction will automatically close;
you can trade with advisors, copy transactions, and also use hedging and scalping strategies.
Analysis of the Main Features of Tickmill in India
Traders Union analysts analyzed the key features of Tickmill for traders from India. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for Tickmill traders from India
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of Tickmill trading conditions for traders from India. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
МТ4, МТ5, МТ4 Webtrader, and Tickmill Mobile App
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📊 Accounts: |
Classic, Raw, Demo
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💰 Account currency: |
Tickmill.EU - USD, EUR, PLN, CHF, GBP. Tickmill.com - USD, EUR, GBP.
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💵 Replenishment / Withdrawal: |
Tickmill.EU - Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal, Dotpay, Trustly. Tickmill.com - Bank Transfer, Visa, Mastercard, Skrill, Neteller, Webmoney, and cryptocurrency payments.
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🚀 Minimum deposit: |
100 US dollars
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⚖️ Leverage: |
Tickmill.EU - to 1:30/1:300. Tickmill.com - to 1:500
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💼 PAMM-accounts: |
No
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📈️ Min Order: |
0.01 lot
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💱 Spread: |
from 1.6 pips for the Classic account and from 0 pips for Raw account
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🔧 Instruments: |
Instruments include currency pairs, commodities market assets, stock indices, stocks, bonds, and cryptocurrencies
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💹 Margin Call / Stop Out: |
100% and 30%
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🏛 Liquidity provider: |
No
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Market Еxecution
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⭐ Trading features: |
Hedging; Scalping.
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🎁 Contests and bonuses: |
No
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Tickmill Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by Tickmill for traders from India. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Tickmill has been checked by our experts for commissions. The experts considered the broker's spread as a trading commission, and additional fees for withdrawing funds from a trading account were considered in a non-trading commission category.
Account type | Spread (minimum value) | Withdrawal commission |
Raw | From $0 | No |
Classic | From 1.6 pips | No |
Traders Union experts have conducted a comparative analysis of trading commissions at Tickmill with its
competitors. Based on the comparison, each broker was rated low, medium, or high.
Raw account have a fixed fee for a standard lot of $3, respectively. That is why, the experts used the EUR/USD pair to compare average expenses for all three accounts.
FAQs
Is Tickmill legal in India?
Yes. Tickmill operates legally in India. The broker holds the necessary licenses.
Can you learn trading with Tickmill? Does the broker offer courses for traders from India?
Yes, Tickmill offers good trading courses and a lot of educational information for clients from India.
Can Tickmill be trusted? Has the broker been operating in India long?
Tickmill has been operating in India quite long and has a good reputation. Therefore, traders can work with Tickmill.
Is Tickmill suitable for novice traders from India?
Yes. Tickmill offers optimal trading conditions and good education for beginners from India.
How efficient is Tickmill customer support in India?
Tickmill offers a sufficient number of ways to contact customer support in India, and also provides support in the state language.
Has Tickmill had any incidents involving theft of funds of clients from India?
No. Tickmill provides reliable security of funds of clients from India.
Will I be able to file a lawsuit in India if Tickmill violates my rights?
Yes. If Tickmill violates your rights, you can file a complaint with the regulator of India, and then with a court.
Can Tickmill clients from India use the broker’s mobile app?
Yes. The mobile app of Tickmill is available for the clients from India.
Does Tickmill provide India market analysis?
Analysis of India is featured in the information provided by Tickmill.
How can I withdraw funds from my account at Tickmill in India?
Tickmill supports bank transfers and debit/credit cards of the banks operating in India.
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.