Tickmill is a NDD (No Dealing Desk) forex and CFD broker. They are regulated with top-tier regulators i.e. FSCA, FCA (UK) & CySEC. They offer instant internet banking deposit method & quick bank transfer withdrawals in SA. Traders can open live account with minimum deposit of $100. Read our Tickmill review to find if they are good for South African traders.
Tickmill is a reputed & well regulated UK based forex & CFD broker established in 2014. Tickmill South Africa Pty. Ltd. is regulated with FSCA, and Tckmill UK Ltd. with FCA in UK, and Tickmill Europe Ltd with CySEC in Cyprus.
Tickmill is a No Dealing Desk (NDD) broker, which means that all orders will be passed to their third party liquidity providers. This means that Tickmill have no conflict of interest with the traders using their platform.
They offer instant internet bank transfer option for funding in South Africa & their withdrawals via bank transfers are very fast too. They offer MetaTrader 4 as trading platform to their clients, but they don’t offer the latest MT5 platform. Moreover Tickmill offers 24/5 support via email, chat, international phone support.
Read our in-depth review on Tickmill to know more about them before choosing them. We have compared their fees, support, platforms & more.
Table of Contents
|🏦 Broker Name||Tickmill Ltd|
|📅 Year Founded||2014|
|🏢 Registered Address||3, F28-F29 Eden Plaza, Eden Island, Mahe, Seychelles|
|💰 Tickmill Minimum Deposit||$100|
|⚙️ Maximum Leverage||1:500|
|⚖️ Tickmill Regulations||FSCA, CySEC, FCA, FSA SC.|
|🛍️ Trading Instruments||62 Currency pairs, CFDs on 2 Metals, 14 Stock Indices, 3 Commodities & 4 Bonds|
|📱 Trading Platforms||MT4 (MetaTrader4), WebTrader|
We consider Tickmill to be a safe forex broker for South African traders based on their regulation with FSCA & Tier 1 regulator FCA.
Tickmill is regulated with 3 Top Tier regulators:
We consider Tickmill to be low risk considering the fact that they are regulated with FSCA & also have a number of other regulations with Top Tier regulators.
Tickmill’s fees depends on your account type with them but overall we found it to be very competetive. We have researched & following is a breakdown of their trading & non-trading fees with all their account types.
Demo account is also provided by the Tickmill to help beginner to practice and learn forex trading.
You can signup with them on their website and start testing your trading strategies using the demo account. Once experienced, you can swap anytime to live account.
In Demo account MT4 trading platform is offered by them. You can download it on your PC and Laptop and start your trading in just one click.
Tickmill South Africa has a minimum deposit of $100.
Step 1) Click on Create Account: Open the home page of the Tickmill and click on Create Account link at the top of the page.
Step 2) Client Area Registration 1/2: Now you will be redirected to page where you need to enter your personal details and Choose your regulator as shown in the below screenshot.
Step 3) Client Area Registration 2/2: After filling your personal details, you need to fill your financial details and set a password for your account with them.
Step 4) Validate your e-mail address: Now you need to verify your email by clicking on the link sent to them on your mentioned email.
Step 5) Complete Account Verification: At last you need to verify your account by submitting your ID proofs. You can upload the scanned copy of your ID proof like Passport, Driving Licence etc. and Address proof like Post Paid Phone Bill, Electricity bill etc.
That All! Your account has been created now. You can check your email to check all the details to start trading with them.
The number of CFD trading instruments available at Tickmill are lesser than other brokers that we have compared.
1) 62 Forex Pairs: Tickmill offers a 62 Forex trading pairs, which is comparatively higher or similar to other forex brokers like Hotforex (53), FXTM (62) but lower than Exness (107).
2) Limited CFDs: Trading instruments other than forex are lower. Tickmill have trading available on 2 Metal CFDs, 17 CFDs on Stock Indices & Commodities & 4 CFDs on Bonds. This is very limited as many other brokers offer higher number of CFD instruments other than forex.
Tickmill offers various deposit & withdrawal methods. Let’s first look into their deposit methods.
Tickmill offers multiple methods with instant deposit options in South Africa.
Withdrawals at Tickmill are fast for traders in South Africa. They also offer Internet Bank transfer withdrawals.
Tickmill does not have any bonus offers in South Africa currently.
They have a $30 welcome bonus offer but it is not available to SA traders for now.
We found Tickmill’s support to be lacking in some parts. We tested their chat support & email support. For both chat & email, we asked them basic questions, below is a review our overall experience with their support.
Yes, we do recommend Tickmill South Africa as we found that they are a good & reputed broker.
On the good side, they are a 100% NDD broker that is regulated with FSCA & FCA. Their overall trading fees is very competitive with Pro account. Also, they do not charge any deposit and withdraw fee, which is good.
Plus, they offer local bank transfer option in SA with quick withdrawals. Their support also is not bad
But they don’t only offer MT5 platform for now. Also, their instruments other than forex are somewhat limited.
Overall, there are one of our recommended brokers that South African traders can choose to trade.
Tickmill had a minimum deposit of $100. South African traders can signup with their Pro & Classic Accounts, both have the same minimum deposit of $100.
Tickmill is authorized by FSCA under FSP no. 49464. They are also licensed with FCA & CySEC, so as per our research we consider them as a low risk forex & CFD broker for traders based in South Africa.
Tickmill offers withdrawals via bank transfer to SA bank accounts, wallets like Skrill, Neteller & via Debit/credit cards. There is no fees with any of these methods & the withdrawal time is also fast & it would vary between few hours to 24 hours depending on the withdrawal method that you choose.
No, Tickmill does not offer ZAR base currency trading accounts at the moment. Currently traders have the option to choose between USD, EUR & GBP base currencies during account opening proceess.
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