Contents
- 1 TickMill Basics
- 2 Our Opinion About TickMill
- 3 Key Benefits
- 4 Regulation And Safety
- 5 TickMill: Legit Or Scam?
- 6 TickMill Trading Assets
- 7 TickMill Account Types
- 8 TickMill Registration – How To Open A Trading Account
- 9 TickMill Registration – How To Verify An Account
- 10 TickMill Bonuses
- 11 TickMill Deposits & Withdrawals
- 12 TickMill Trading Platforms
- 13 Trading Tools
- 14 Education And Research
- 15 Trading Hours
- 16 Tickmill Customer Support
- 17 Our Verdict
- 18 TickMill Forex Broker Review – FAQs
TickMill Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | CySEC, FCA, DFSA, FSCA |
| 💰 Minimum Deposit | $100 |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Skrill, Neteller, dotpay, PayPal, and Trustly. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Skrill, Neteller, dotpay, PayPal, and Trustly. |
| 📌Open an account | Start Trading with TickMill |
Our Opinion About TickMill
TickMill is one of the top forex brokers in Africa. First set up in 2014, they are an established forex provider and have earned the trust of 1,000,000+ clients worldwide. They are also a regulated broker with licences from some of the strictest financial authorities in the world. Tickmill has got a great reputation within the forex industry. They are also an award-winning forex company and highly-regarded for their excellent online trading services.
In terms of their accounts, TickMill offers a secure online trading environment and a high level of client fund protection. They have more than 150 trading instruments including forex, shares, indices, and commodities. They also offer competitive trading conditions. You can choose from 3 main trading accounts – all of which come with low spreads, low commissions, and fast trade execution. You can also choose from 2 powerful online trading platforms – MT4, and MT5.
Key Benefits
Regulation And Safety
TickMill is a licensed forex broker. TickMill is the trade name for a small group of businesses, that operate across different regions, and that work together under the same management. While this business model might seem a little complicated at first, it allows TickMill to obtain more regulatory licences and to offer its online trading services in more countries. As a group, TickMill has licences from many financial authorities including CySEC, the FCA, the LFSA, the FSCA, and the FSA-Seychelles.
Regulation In Africa
Traders in Africa can open a trading account with the FSA-regulated company, or the FSCA-regulated company, depending on their country of residence. As a group, TickMill operates under a high level of regulatory oversight. They offer all their forex traders a high level of client fund security. For example, traders in Africa can benefit from negative balance protection and other important security measures, such as segregated accounts. As such, TickMill are not only regulated, but also a reliable organisation that you can trust.
Forex Industry Awards
Tickmill has won many awards in recent years. Their most recent accolades include:
- Best Forex Spreads 2023 (Ultimate Fintech Awards)
- Best Forex Spreads 2022 (Ultimate Fintech Awards)
- Best Forex Trading Experience 2023 (Global Forex Awards 2022)
- Best Trade Execution (Cairo Investment Expo CIE4)
TickMill: Legit Or Scam?
TickMill is a legitimate forex broker. They are licensed by some of the strictest regulatory authorities in the world and have robust client fund protection measures in place. In terms of their trading products, they have excellent trading accounts, transparent trading conditions, and competitive. They also offer low minimum deposits and low trading costs. In our opinion, they are a reliable forex broker.
TickMill Trading Assets
Tickmill provides you with access to many different trading assets. You can choose from forex, stocks, indices, energies, commodities, and bonds.
Trading Instruments
- Forex: They provide access to 62+ pairs, including majors, minors, and exotics.
- Indices: They give access to 25+ CFD indices, including AUS200, UK100, US30, and US500.
- Metals: They provide access to 3 metals for trading, including gold and silver.
- Bonds: They give access to 4 bonds for trading
- Cryptocurrencies: They provide access to 8 cryptos, including Bitcoin, Ethereum, and Litecoin.
TickMill Account Types
At Tickmill, there are four main account types, all of which come with good trading conditions and low trading costs. Besides the TickMill classic account that you can create, you also have the option to choose from other account types such as the Pro, VIP and Islamic swap-free accounts.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Classic | From 1.6 pips | $100 | 1:500 | $0 |
| Pro | From 0.0 pips | $100 | 1:500 | $2 per side |
| VIP | From 0.0 pips | $200 | 1:500 | $1 per side |
Real Accounts
In our opinion, the best account is the Classic account. It is a great account for new forex traders in Africa. There are no commission fees and the spreads start from as low as 1.6 pips. It also comes with leverage of up to 1:500 on certain trading instruments. The minimum deposit is only $100, which is lower than the minimum deposit for many other African forex brokers. The available base currencies are USD, EUR, GBP, PLN, and CHF.
Demo Accounts
In our view, the TickMill demo trading account is a great tool. You can use the demo account to work on improving your trading skills and to test different trading strategies. You can also use it get a feel for the forex market and how different trading tools work. This tool is especially helpful for new traders, especially if it’s your first time trading, as it helps you try out different services. Demo accounts operate using virtual funds. There is no risk to your money.
Islamic Accounts
All of the TickMill accounts are available as Islamic swap-free trading accounts, and you can choose this option when opening your online trading account.
TickMill Registration – How To Open A Trading Account
As part of our TickMill review, we took a look at the account registration process. If you live in Africa, then you are allowed to open an online trading account. The first step is to register online. This is so that TickMill can get some personal information and create your trading account. The next step is to take a short online trading quiz. This is so that TickMill can find out what you know about forex trading, and if their services are suitable for you. If you pass the quiz, the you can move on the final step of the account registration process, which is account verification.
TickMill Registration – How To Verify An Account
As part of our TickMill review, we also looked at their account verification requirements. To open a live trading account you’ll need to show TickMill a proof of ID and a proof of address. This is so that they can check your identity and verify your account. The account verification process is simple. You can provide copies of your National ID card, Passport or Driving License. You can also provide copies of a utility bill or a bank statement registered in your name. After you have verified your account, you can add funds and start trading.
TickMill Bonuses
Yes, Tickmill has a few different forex promotions. Their forex bonuses include a $30 welcome bonus, a Non-Farm Payroll prediction competition, and a Trader of the Month competition. Be sure to visit Tickmill’s website to read the full T&Cs for each forex bonus.
TickMill Deposits & Withdrawals
As part of our TickMill review, we had a look at their payment options. They have a nice range of deposit and withdrawal methods. You can choose traditional payment options like debit card, credit card, and bank wire. You can also choose from popular e-wallets like Skrill and Neteller. They also offer fast transaction times and low transaction fees, for added convenience.
TickMill Trading Platforms
TickMill offers two great online trading platforms – MetaTrader4 and MetaTrader5. They are free to download. You can access them on any device – including desktop, tablet, and mobile.
MetaTrader4 (MT4) is a good trading platform for new forex traders. It has a simple interface and comes with many useful trading tools. You can use it to trade many different assets including forex, stocks, and indices. The TickMill MT4 trading platform also has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects.
MetaTrader5 (MT5) is another good platform for beginner forex traders. It has a nice layout and comes with plenty of built-in trading features. You trade use it to trade many different things including forex, shares, and commodities. The TickMill MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects.
Trading Tools
Tickmill has plenty of great trading tools. You can choose from Autochartist, Myfxbook, PelicanTrading, a VPS service, an advanced trading toolkit, and a one-click trading plugin. However, it is worth keeping in mind that some of the trading tools come with a fee.
Education And Research
As part of our TickMill review, we looked at what learning materials are on offer. They have plenty of online articles and forex trading guides. These will help you to improve your knowledge of the forex market and to learn how to create your first trading strategies. They also have plenty of video tutorials. These will help you learn how to analyse the financial markets and how to manage your risk.
Trading Hours
TickMill operates during standard trading hours. You can make forex trades whenever the forex market is open. Trading hours may vary on public holidays.
Tickmill Customer Support
As part of our TickMill broker review, we checked what customer support is available. Tickmill is quick to answer questions and happy to help you with your account. You can contact them via phone, email, and live chat.
Our Verdict
TickMill in Africa offers high quality trading services including great accounts, competitive pricing, and powerful trading platforms. It also offers excellent educational materials, great trading tools, and a high level of customer service. This makes TickMill a great choice for African traders – whether you’re just starting your journey in Forex or if you’re just looking to try a new broker!
TickMill Forex Broker Review – FAQs
TickMill is one of the most well-known forex brokers on the market. First established in 2014, it is now a large, international broker with over 1,000,000+ clients worldwide. They are a regulated forex company with licences from some of the most reputable regulatory authorities in the world. They have offices in Cyprus.
Yes, TickMill in Africa is a good broker. They have a nice selection of account types, all of which havelow trading costs. TickMill has many trading instruments including forex, stocks, indices, cryptocurrencies, metals, oil, gas, and other commodities. They also offer very good trading tools and excellent online resources.
Yes, TickMill in Africa is a legit forex broker. They are an international company that has won many awards in recognition of their services. In terms of their trading, they offer great accounts, competitive pricing, and cutting-edge platforms. Furthermore, TickMill has a good selection of payment methods and offers a fast, smooth withdrawal process. In our opinion, they are a legit forex broker.
Yes, TickMill is a regulated broker. The TickMill Group holds licences from a number of prestigious regulatory bodies including CySEC, the FCA, the LFSA, the FSCA, and the FSA-Seychelles. These licences and registrations enable TickMill to offer its services on a global scale, including in Africa
Yes, TickMill is a safe forex broker. When it comes to fund safety, they choose to go beyond their basic regulatory requirements, and offer more comprehensive client fund protection measures. TickMill keeps all client funds in segregated accounts, separate from its operating capital. This means that they can never use client funds for their own operational purposes. In our opinion, TickMill is a safe company to trade with.
Yes, TickMill has good live accounts. At Tickmill, there are three real trading account types, all of which come with good trading conditions and low trading costs. Besides the TickMill Classic account that you can create, you also have the option to choose from other account types such as the Pro Account and the VIP Account.
No, TickMill does not offer Naira accounts. The available base currencies include USD, EUR, GBP, PLN, and CHF. The options for African traders is USD.
Yes, they do. As part of our TickMill bonus review, we checked to see what promotions are available for African traders. There is a TickMill $30 welcome bonus, a Non-Farm Payroll prediction competition, and a Trader of the Month competition. Check Tickmill’s website to see the bonus terms and conditions, as well as the bonus withdrawal conditions.
Yes, TickMill is good for beginners. They have several affordable account options, all of which come with low trading costs and low minimum deposits. They also have a large selection of trading tools and educational resources. For example, African traders who want more help with their trading can choose to use TickMill’s trading videos. This will give them access to expert insights and increase their chances of trading profitably.
TickMill is one of the best forex brokers in the industry. They have great trading accounts with low trading costs. They also have a good range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many great forex brokers as well. We recommend looking at Exinity, FXPesa, and FXPro.