Tickmill is a licensed Forex and CFD broker that is owned and operated by the Tmill Limited based in United Kingdom. Tickmill is offering trade on a total of 84 tradeable symbols including CFDs on 16 indices, two metals, four bonds, and 62 forex pairs. They are furnishing investors with 3 account types – A Classic account type which is commission free and a Pro and VIP account types which are commissions based. All the account types are offered only on the Metatrader 4 platform. Minimum deposit to open the most basic account is $25. Average EURUSD spreads starts from 0.2 on the commissions based account. Low commissions of about $1 per standard lot is seen on the VIP account which requires deposit of $50,000. Maximum leverage is capped at 1:30.
What is Tickmill (Tickmill.com)? Either is Tickmill scam or legit?
Established in 2014, Tickmill is considered safe, as it is regulated and licensed by top-tier financial authorities, like the UK Financial Conduct Authority please continue reading our Tickmill review below.
Official website is at https://tickmill.com.
Tickmill Review
- Aforementioned, Tickmill is regulated by the Financial Conduct Authority FCA in UK to accept customers on regulated markets like the European Union, including the UK for example.
- A regulated broker like Tickmill is required to include proper risk disclaimers and regulatory information at the bottom of all their website pages. All FCA-regulated firms are required to comply with certain requirements and procedures. Consequently, Tickmill is subject to client money rules set by UK’s financial watchdog and keeps all client money separated from the company`s operating funds into segregated accounts held at an approved bank in the EEA, currently this is Barclays. What is more, FCA-regulated brokers are obliged to hold at least €730,000 in order to prove their financial stability.
- Regulatory authorities in most jurisdictions set similar minimum capital requirements to providers of financial services. For instance, Cyprus-based brokers are required to possess at least €1,000,000 in order to conduct their business activities legitimately.
- In the event of a shortfall, Tickmill clients may be entitled to compensation from the Financial Services Compensation Scheme, UK’s compensation fund of last resort for customers of licenced companies, where the maximum compensation cover is £50,000 per person.
- We confirm that Tickmill is legitimate – Tickmill has registered office at 3, F28-F29 Eden Plaza, Eden Island, Mahe, Seychelles. The CFO of Tickmill LTD is Illimar Mattus. See evidence below.
- Tickmill is fortunately not the only legitimate Forex broker to compare, there are many similar brokers, like easyMarkets, VantageFX, Avatrade, Valutrades. They all work the same way. They have appropriate licensing.
- All of that, together with Tickmill having a sound corporate information leads us to believe that Tickmill is another regulated, legitimate website, which we strongly recommend for you.
Since now it is clear that Tickmill is a legitimate broker, so we recommend tickmill.com.
Questions to ask to avoid a forex trading scam
- Is the broker regulated?
- If regulated, how trustworthy is the regulatory body?
- Is the broker offering profits or rewards for opening an account?
- Is the broker offering a cash bonus for opening an account?
- Is the broker offering automatic trades or signals to guarantee profits?
- Is any credible information about the company included on its website, such as company history, financials, headquarters’ address, or similar?
- If awards are cited, can I verify their authenticity?
- If a big corporate sponsorship is promoted (e.g. athlete sponsorship), am I doing my due diligence to ensure the company can be trusted?
Tickmill License
Tickmill Broker is a licensed broker.
Forex Broker Expert uses a simple method to determine if a Forex broker is legitimate or a scam broker. We look to see if the broker is licensed and regulated by anyone of these regulators; FSCA South Africa, FCA United Kingdom, ASIC Australia or the US CFTC.
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Pros
- FCA, CySEC and FSA license
- MT4 supported
- Affordable minimum deposit
- Good spreads
- Research features
Cons
- No choice of trading platform
Easy Tutorials For Beginners
Tips and tricks to help you choose a good Forex broker
Top Tier Regulation
Authorities like the UK FCA, US NFA, Japan JFSA, CySEC Cyprus, and ASIC Australia among others are the most reputable regulators because they have a strict regulatory framework which protects traders.
Regional Leverages
Some brokers offer leverage as high as 1:200 but European Securities and Markets Authority (ESMA) restricted leverage to 1:30 for all brokers who are operating in the EU. A similar move was pulled by regulators in the US, Japan and South Korea. Australia is one of the main regulators where leverage is not restricted yet.
Bottom Line
Some brokers could have made a nice Forex broker but due to their short comings, it is only best to avoid such a broker. There are more competitive brokers.
Huge Offering of Investment
Definitely there is no limit to what you can trade on CFDs. Many brokers offer variety of stocks, indices, commodities, natural gas, oil, precious metals including Crypto currencies.
Industry Acceptable Initial Deposit
In terms of the acceptable initial deposit, we can say that $250 is acceptable for a basic account.
Metatrader Facility
Many Forex broker support MT4 platform for trading. So this should not be the reason as to why you are picking an offshore broker.
