Tickmill is a Forex Broker located in the Republic of Seychelles, which was founded by a group of traders with more than 20 years of experience in the international financial markets. The company was originally located in Estonia under the name Armada Markets but relocated as Tickmill Ltd Seychelles to the Seychelles in 2015.
In November 2016 the sister company Tickmill UK Limited located in London started its operation.
Tickmill Ltd Seychelles is supervised by the Seychelles Financial Services Authority (FSA), the independent supervising authority of the Republic of Seychelles. However, it is unlikely that the regulation and supervision is on the same level as in Europe, Australia or the United States.
Tickmill UK Limited is supervised by the Financial Conduct Authority (FCA), the independently acting supervising authority of the United Kingdom.
Tickmill Ltd Seychelles doesn't provide any information regarding the protection of deposits.
In case of insolvency, client deposits with Tickmill UK Limited are protected by the Financial Services Compensation Scheme, the UK's compensation fund of last resort. The current compensation limit is GBP 50,000 per client.
By Tickmill Ltd Seychelles' own accounts, clients' funds are kept on separate accounts, thus ensuring that creditors do not have access to client's deposits in case of a bankruptcy. Partial amounts used as a margin at the time of the bankruptcy are not subject to this regulation.
As Tickmill UK Limited is regulated by FCA UK, it is obliged to keep the clients' funds on separate accounts, thus ensuring that creditors do not have access to client's deposits in case of bankruptcy. Partial amounts used as a margin at the time of the bankruptcy are not subject to this regulation.
Customer support is available in several languages. Enquiries are answered swiftly.
For the opening of an account, Tickmill requires a proof of identity (personal ID or passport) and a proof of address (account or credit card statement, utility bill). Documents can be scanned in and emailed to support when opening the account. The whole account opening process can be completed within one hour.
Deposits on a customer account are possible by bank transfer (1 - 2 business days), by credit card (via Moneybookers, online, within a few hours) or via internet payment services. Pay-outs can only be made to the client only; pay-outs to third parties are not permitted.
LMAX and Saxo Bank.
The trading servers are located in the Equinix datacenter LD4 in London, with back-up servers in the Equinix datacenter NY4 in New York.
Summer time: GMT+3
Winter time: GMT+2
|Classic account||ECN Pro account||VIP account|
|spreads:||variable, starting from 1.6 pips||variable, starting from 0.0 pips||variable, starting from 0.0 pips|
|Currency pairs:||62, gold, silver, CFDs||62, gold, silver, CFDs||62, gold, silver, CFDs|
|Decimal places:||five, accuracy 0.1 pips||five, accuracy 0.1 pips||five, accuracy 0.1 pips|
|Leverage:||variable, max. 1:500||variable, max. 1:500||variable, max. 1:500|
|Minimum deposit:||USD 100||USD 100||USD 50,000|
|Minimum contract size:||0.01 lot||0.01 lot||0.01 lot|
|Account currencies:||USD, GBP, EUR, PLN||USD, GBP, EUR, PLN||USD, GBP, EUR, PLN|
|Commission:||n/a||USD 4.00 per USD 100k traded (round-turn)||USD 2.00 per USD 100k traded (round-turn)|
Special trading conditions in form of direct commission discounts are automatically applied to all Tickmill ECN Pro Accounts opened using the below listed link. Thus, the commission is reduced by 5% to USD 3.80 per USD 100k traded (round-turn).
If, for example, 1 lot EUR/USD is traded at 1.35 the amount traded is EUR 100,000 or USD 135,000. The respective commission amounts to USD 4 * USD 135,000 / USD 100,000 = USD 5.40. Taking into account the commission discount the commission is reduced to USD 5.13.
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