Tickmill is an online forex broker founded in November 2024, which offers leading trading with a wide range of services in forex, commodities, cryptocurrencies, precious metals, crude oil, and stocks. Its promotional tagline is: A World of Trading Opportunities. The broker does not provide services to North Korea, Israel, China, Vanuatu, and Cuba.
Trading Platform
Tickmill claims to provide a trading software named ST5 Mobile, which supports the following features:
- 24/5 trading (24 hours a day, 5 days a week)
- A range of technical analysis tools (30 technical indicators, 24 analytical objects)
- Various chart types and time frames
- Provision of financial market news
However, there is no actual user experience on the platform that could confirm it. Besides, while there is free access to the mobile application via the App Store, the download link via Google Play is dead, which may indicate potential problems with technical support.
Trading Instruments
- Precious Metals: Trading in metals like gold and silver to enable investors to diversify their portfolios. Generally, precious metals represent safer markets.
- Crude Oil: Trade US and UK crude oil.
- Forex: As the world's largest market by trading volume, Forex provides investors with small spreads and more than 65 currency pairs to make their trading processes simpler and smoother.
- Cryptocurrencies: Trade prominent cryptocurrency pairs such as Bitcoin (BTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD).
- Stocks: Investors can hold stocks of various companies, potentially offering protection against inflation and taxes.
- Commodities: Diversify portfolios further by trading commodities like coffee and sugar.
Trading Conditions and Account Types
Offers five account types, with high entry requirements set to meet different funding needs. Details of the accounts are as follows:
- Bronze: Minimum deposit of $500, commission of $0.01 per share, minimum fee of $1.5
- Silver: Minimum deposit of $5,000, commission of $0.008 per share, minimum fee of $1.5
- Gold: Minimum deposit of $10,000, commission of $0.007 per share, minimum fee of $1.5
- Platinum: Minimum deposit of $25,000, commission of $0.006 per share, minimum fee of $1.25
- Diamond: Minimum deposit of $50,000, commission of $0.005 per share, minimum fee of $1
Despite offering varied account types, the high minimum deposit requirement might deter general investors.
Regulation and Compliance Analysis
This broker displays regulatory information on its website from several authorities, including:
- National Futures Association (NFA) (License No.: 0557897)
- Cyprus Securities and Exchange Commission (CySEC) (License No.: 123/10)
- Financial Sector Conduct Authority of South Africa (FSCA) (License No.: 46990)
However, upon verification, these licenses are found to be false:
- No records of Tickmill Ltd can be found on the NFA official website.
- The licenses from CySEC and FSCA actually belong to another company—Colmex Pro Limited, indicating possible identity misuse by the broker.
These issues directly reveal the fraudulent nature of the broker's regulation, raising concerns for the safety of user funds.
Customer Support
- Contact Methods: Email (support@tickmillgloballtd.com), Phone (+612845980500)
- Online Chat: The website claims to offer multilingual support, but the chat function appears to be a dummy button, showing no response.
In addition, the platform has no social media accounts on public networks, which is atypical for forex brokers.
User Experience and Brand Trust
Educational Resources
Tickmill does not have investor educational content of any kind, which completely and utterly disregards novice traders learning needs.
User Reviews
This is highly unusual for a Forex broker, with nearly no user reviews about Tickmill found online.
Traffic and Exposure
Data from Semrush and Ahrefs indicate that Tickmill has an average monthly traffic of less than 100, reflecting low market recognition.
Pros and Cons Summary
Pros
- Provides trading services in multiple asset categories
- Has a detailed account tier system
Cons
- False Regulation: The license information provided is not genuine, posing serious compliance risks.
- Low Transparency: Unable to verify company personnel and user reviews; website information is often questionable.
- Lack of Education and Support: Offers no educational resources or real customer service.
- Low Brand Credibility: No news or positive reviews online, making it obscure.
Conclusion: Is Tickmill Worth Trusting?
The operational status is in contrast to what Tickmill advertises about offering global trading opportunities. From the falsity of its regulatory information to its lack of exposure to the market, it raises questions about the reliability of the platform.
Recommendation: It is apparently much safer to choose a broker who is strictly regulated and enjoys a credible market reputation with investors. With unsatisfactory performance in the field of transparency, compliance, and quality of service, one should be cautious with the broker.
