Tickmill Review
Overall, Tickmill is considered low-risk, with an overall Trust Score of 82 out of 100. Tickmill is licensed by one Tier-1 regulator (high trust), two Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). OctaFX is currently not regulated by the Bank of Tanzania.
- Lesche Duvenage
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 230,000 Tanzanian Shilling
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Review – 25 key points quick overview:
Tickmill Overview- Tickmill At a Glance
- Tickmill Regulation and Safety of Funds
- Tickmill Awards and Recognition
- Tickmill Account Types and Features
- How to open an Account with Tickmill in Uganda
- Tickmill VS GO Markets VS Fidelity Investments – Broker Comparison
- Tickmill Trading Platforms
- Tickmill Range of Markets
- Broker Comparison for Range of Markets
- Tickmill Trading and Non-Trading Fees
- Tickmill Deposits and Withdrawals
- How to Deposit Funds with Tickmill
- Tickmill Fund Withdrawal Process
- Tickmill Education and Research
- Tickmill Bonuses and Promotions
- How to open an Affiliate Account with Tickmill
- Tickmill Affiliate Program Features
- Tickmill Customer Support
- Tickmill Corporate Social Responsibility
- Verdict on Tickmill
- Tickmill Current Popularity Trends
- Tickmill Pros and Cons
- Frequently Asked Questions
- Conclusion
Tickmill Overview
Tickmill offers three different retail trading accounts namely a Pro Account, Classic Account, and a VIP Account.
Tickmill was first offered to traders in 2015 and serves clients all over the world with its own accessible blend of online trading services aimed at promoting education and maximizing user functionality.
Tickmill was founded by a competent team of experts with decades of expertise who are dedicated to advancing the interests of their clients.
Tickmill uses innovative technology to offer premium trading conditions, including low spreads starting at 0 pips, cheap costs, and average execution times of 0.15 seconds.
For complete transparency, there are no requotes and a completely automated No Dealing Desk (NDD) execution approach.
Global, top-tier banks and hedge funds supply liquidity to Tickmill. Orders are cleared 100% with Tickmill’s liquidity providers using quotations obtained straight from them. Hedging, scalping, and expert advisers are all permitted trading methods.
This Tickmill review for Tanzania will provide local retail traders with the details that they need to consider whether Tickmill is suited to their unique trading objectives and needs.
Tickmill accepts Botswanan clients and has an average spread from 0.0 pips with commissions from $1 per standard lot traded. Tickmill has a maximum leverage ratio up to 1:500 and there is a demo and Islamic account available.
MetaTrader 4 and MetaTrader 5 platforms are supported. Tickmill is headquartered in London, United Kingdom and regulated by Seychelles FSA, FCA, CySEC, Labuan FSA, and FSCA.
Tickmill Distribution of Traders
Tickmill currently has the largest market share in these countries:
️ Poland – 14.9%
️ Vietnam – 9%
️ Thailand – 7%
️ Malaysia – 6.2%
️ Qatar – 5.5%
Popularity among traders who choose Tickmill
Tickmill is a broker that accepts and welcomes Tanzanian traders despite having a market share in Tanzania that is less than 5%. Because of this, Tickmill is positioned as one of the Top 40 brokers for traders based in Tanzania.
Tickmill At a Glance
| 🏛 Headquartered | London, United Kingdom |
| 🏙 Local office in Dodoma? | No |
| ✅ Accepts Tanzanian Traders? | Yes |
| 🗓 Year Founded | 2015 |
| 📞 Tanzanian Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 🪪 License Number | • Seychelles – SD008 • United Kingdom – 733772 • Cyprus – 278/15 • Labuan – MB/18/0028 • South Africa – FSP 49464 |
| ⚖️ BoT Regulation | No |
| 🚫 Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 3 |
| 📊 PAMM Accounts | MAM Accounts |
| 🤝 Liquidity Providers | Barclays and other top-tier banks as well as hedge funds |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market |
| 📊 Average spread | From 0.0 pips |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 30% |
| ✅ Crypto trading offered? | No |
| 💰 Offers a TZS Account? | No |
| 👨💻 Dedicated Tanzanian Account Manager? | Yes |
| 📊 Maximum Leverage | 1:500 |
| 🚫 Leverage Restrictions for Tanzania? | No |
| 💰 Minimum Deposit | 230,000 Tanzanian Shilling equivalent to $100 |
| ✅ Tanzanian Shilling Deposits Allowed? | No, only USD, GBP, EUR, IDR, CNY, VND, RUB |
| 📊 Active Tanzanian Trader Stats | 50,000+ |
| 👥 Active Tanzanian-based Tickmill customers | Unknown |
| 💳 Tanzania Daily Forex Turnover | Unknown, overall Forex Daily Trading Volume is over $6.6 Trillion |
| 💵 Deposit and Withdrawal Options | • Bank Transfer • Debit Card • Credit Card • Skrill • Neteller • Sticpay • Fasapay • UnionPay • Nganluong • QIWI • WebMoney |
| 🏦 Segregated Accounts with Tanzanian Banks? | No |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 |
| ✔️ Tradable Assets | • Forex • Stock Indices • Energies • Precious Metals • Bonds • Cryptocurrencies |
| 💸 Offers USD/TZS currency pair? | No |
| 📈 USD/TZS Average SpreadX Average Spread | N/A |
| 📉 Offers Tanzanian Stocks and CFDs | None |
| 🗣 Languages supported on Website | English, Indonesian, Russian, Arabic, Italian, Thai, Vietnamese, German, Chinese (Simplified), Spanish, Polish, Korean, Malay, Portuguese |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/5 |
| 👥 Customer Support Languages | No |
| ✅ Bonuses and Promotions for Tanzanians | Yes |
| 📚 Education for Tanzania beginner traders | Yes |
| 📱 Proprietary trading software | No |
| 💰 Most Successful Tanzanian Trader | Unknown |
| ✅Is Tickmill a safe broker for Tanzanians? | Yes |
| 📊 Rating for Tickmill Tanzania | 9/10 |
| 🤝 Trust score for Tickmill Tanzania | 81% |
| 👉 Open an account | 👉 Open Account |
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 230,000 Tanzanian Shilling
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Regulation and Safety of Funds
Tickmill Regulation in Tanzania
Tickmill currently does not have local regulations through the Bank of Tanzania but is regulated by several other reputable entities in several global regions, which makes Tickmill a trusted and safe broker.
Tickmill Global Regulations
Tickmill Group is the umbrella company that consists of the following comprehensive list of licenses and regulations through different entities:
Tickmill UK Ltd. is based in London, United Kingdom and is regulated by the Financial Conduct Authority (FCA).
Tickmill Europe Ltd. is based in Limassol, Cyprus and is overseen and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Tickmill South Africa (Pty) Ltd. is headquartered in Cape Town, South Africa and is regulated by the Financial Sector Conduct Authority (FSCA).
Tickmill Ltd. is based in Mahe, Seychelles and is regulated by the Financial Services Authority (FSA) of Seychelles.
Tickmill Asia Ltd. is based in Labuan, Malaysia and is subsequently regulated by the Financial Services Authority of Labuan (LFSA).
Tickmill Client Fund Security and Safety Features
Tickmill Europe Ltd. is an Investor Compensation Fund member (ICF). The ICF was established as an investor compensation fund for CIF clients according to Articles 59(1) and (2), associated with Law 144(I)/2007.
Subsequently, all operations of these funds are governed by CySEC Directive 144-2007-15. The overall goal of the fund is to secure the claims of covered customers against ICF members. In addition, this is done by providing compensation for claims that directly result from a member’s failure to perform its responsibilities.
Furthermore, traders must note that the European Securities and Markets Authority (ESMA) guidelines limit the Tickmill UK and European firms’ leverage to 1:30.
In addition, Tickmill also adheres to the Markets in Financial Instruments (MiFID II) legislation of the European Union, which establishes a unified regulatory framework for the supply of investment services within the European Economic Area.
The primary goals of this directive are to maximize efficiency, boost transparency, promote competition, and provide enhanced consumer protection.
MiFID II permits investment companies to provide investment and ancillary services inside the territory of another member state and/or a third country, provided that such activities fall within the scope of Tickmill’s authorization.
Tickmill maintains customer funds in separate accounts at reputable financial institutions for security purposes and to guarantee that the funds cannot be used for other purposes, such as business operating expenses.
Negative balance protection for Tickmill retail accounts ensures that clients cannot lose more than their original investment. If the Tickmill client risk team detects reckless trading, they reserve the right to contact the customer and request that they minimize their overall exposure to risk or reduce their account’s leverage.
Tickmill Awards and Recognition
Tickmill forms a part of a group of companies positioned around the globe including:
Tickmill Ltd.
Tickmill UK Ltd.
Tickmill Europe Ltd.
Tickmill Asia Ltd.
Tickmill South Africa (Pty) Ltd.
Each of these entities has won several awards in their regions for a variety of categories including, but not limited to superior trading conditions, excellent customer service, technology, and more. Some of the most recent awards won by Tickmill include:
In 2021, Tickmill was awarded the “Best Trading Conditions” award by FxScouts.
Tickmill won the “#1 Broker for Commissions and Fees” in 2021, issued by ForexBrokers.com.
Tickmill was named the “Best MENA Forex Broker” at the Cairo Virtual Expo in 2021.
Tickmill won the award for the “Best Customer Service” in 2021, issued at the Cairo Virtual Expo.
Tickmill was issued the “Best Forex Customer Service Globally” during the Global Forex Awards along with the “Best Forex Trading Experience” in Asia, and the “Best Forex Trading Experience” in MENA.
In addition, during the Cairo Investment Expo CIE4, Tickmill received the award for the “Best Trade Execution.” in 2021.
Tickmill Account Types and Features
Tickmill offers three live trading accounts namely a Pro, Classic, and VIP Account. All three account types provide Tanzania traders access to the full range of markets that can be traded with Tickmill, which includes CFDs, Forex, Stock Indices, Precious Metals, Bonds, Energies, and Crypto.
In addition, Tanzania traders also have access to a demo account that can be used to practise trading, test strategies, or test Tickmill’s trading environment risk-free. Tickmill also offers its Muslim clients an Islamic account conversion on the Pro, Classic, and VIP Accounts, ensuring that traders who follow Sharia are given access to halal trading conditions.
Tickmill Live Trading Account Details
Pro Account
The Pro Account provides traders with some of the best trading conditions available, including some of the lowest spreads, respectable maximum leverage, and minimal commission fees.
| Account Feature | Value |
| 💰 Minimum Deposit | 230,000 Tanzanian Shilling or an equivalent to $100 |
| 💵 Minimum Account Balance | None |
| 💳 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 0.0 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Lots that can be traded | 0.01 lots |
| 💸 Commission charges | $2 per side per standard lot of 100,000 |
| ✔️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
Classic Account
Most retail traders will find that the Classic Account satisfies both their needs and their tastes. This sort of account provides its users with the following special trading conditions and features:
| Account Feature | Value |
| 💰 Minimum Deposit | 230,000 Tanzanian Shilling or an equivalent to $100 |
| 💵 Minimum Account Balance | None |
| 💳 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 1.6 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Lots that can be traded | 0.01 lots |
| 💸 Commission charges | None |
| ✔️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
VIP Account
Tickmill’s VIP Account has improved trading conditions as well as additional features. This type of account would be most beneficial to a professional trader, active trader, scalper, or high-frequency trader.
| Account Feature | Value |
| 💰 Minimum Deposit | None |
| 💵 Minimum Account Balance | 110,000,000 TZS or an equivalent to $50,000 |
| 💳 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 0.0 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Lots that can be traded | 0.01 lots |
| 💸 Commission charges | $1 per side per standard lot of 100,000 |
| ✔️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
Tickmill Base Account Currencies
Tickmill does not provide a TZS-denominated trading account to Tanzanian traders. The United States Dollar (USD), the Great British Pound (GBP), and the Euro (EUR) are the only base currencies that any of Tickmill’s five international organizations will accept.
In addition, Tickmill UK Ltd., and Tickmill Europe Ltd. both acknowledge PLN as an additional currency for use across all accounts on these websites.
The fact that Tanzanians with TZS bank accounts will not have access to the full range of services provided by many other international brokers is disappointing. Trading costs may rise because of conversion fees, which may have a major impact on a company’s ability to turn a profit.
Tickmill Demo Account
Tickmill’s demo account allows traders to practise trading without risking their money by simulating real-time market conditions, testing tools and trading tactics, and honing their abilities.
Tickmill’s trading platforms are completely functioning and include several unique tools and features that assist users in improving their overall trading abilities and expertise.
Tickmill provides over 80 trading instruments, all of which may be traded without risking the trader’s cash using a demo account. Traders should keep in mind that the demo account is only available if they actively use it. A demo account that has been idle for more than seven days will expire, and traders will have to reapply. Traders can register a maximum of seven demo accounts using a single registered and confirmed email address.
Tickmill Islamic Account
According to Tickmill, the interests of its clients are a priority and therefore, the broker strives to facilitate the trading needs and requirements of clients around the globe. Considering this, Tickmill offers Islamic accounts on the Pro, Classic, and VIP accounts which are compliant with Sharia law.
A Forex Islamic account is also known as a swap-free account. This is since Islam prohibits swapping currencies and paying rollover interest on overnight holdings. Muslim traders can register any type of account with Tickmill, and the broker converts it to an Islamic type, ensuring that Muslim customers can benefit from the best trading conditions that Tickmill offers.
The trading conditions and terms associated with Islamic accounts are identical to those associated with typical trading account types, with the exception that no swaps are debited/credited on trading instruments.
However, to offset the absence of overnight fees, a handling charge does apply if multiple trading instruments are held overnight for more than three nights in a row.
How to open an Account with Tickmill in Tanzania
To register an account with Tickmill, Tanzania traders can follow these steps:
Tanzania traders must first submit an online application before opening an Individual Client Account.
Traders must provide contact information, as well as information about their jobs, finances, and other pertinent information.
Once the form has been filed, the traders must verify their email addresses and produce proof of residency as well as identity. Tickmill’s Know Your Client (KYC) protocols require this step, which cannot be skipped or avoided.
Tickmill’s customer service staff will assess the application and accompanying paperwork before traders may fund their accounts and begin trading.
Tickmill VS GO Markets VS Fidelity Investments – Broker Comparison
| Tickmill | GO Markets | Fidelity Investments | |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA | ASIC, FSA Seychelles, FSC Mauritius, CySEC | FINRA, SEC |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 | • MetaTrader 4 • MetaTrader 5 | • Active Trader Pro • Fidelity Mobile |
| 💰 Withdrawal Fee | No | None | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 230,000 TZS | 359,215 TZS | 2,003 TZS |
| 📈 Leverage | 1:500 | Up to 1:500 | 1:1 |
| 📊 Spread | Variable, from 0.0 pips | From 0.0 pips | None |
| 💰 Commissions | $1 per side per 100,000 traded | From US$2.50 | $0 to $0.03 |
| ✴️ Margin Call/Stop-Out | 100%/30% | 80%/50% | None |
| ✴️ Order Execution | Market | Instant | None |
| 💳 No-Deposit Bonus | Yes | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • Pro Account • Classic Account • VIP Account | • Standard Account • GO+ Account | • Brokerage Account • Cash Management Account • Brokerage and Cash Management • The Fidelity Account for Businesses • Fidelity Go, and several others |
| ⚖️ BoT Regulation | No | No | No |
| 💳 TZS Deposits | No | No | No |
| 📊 TZS Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 3 | 2 | 15 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 💵 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots | 250 lots | 4x maintenance margin excess |
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 230,000 Tanzanian Shilling
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Trading Platforms
Tickmill offers Tanzania traders a choice between these trading platforms:
MetaTrader 4
MetaTrader 5
Desktop Platforms
MetaTrader 4
MetaTrader 5
The MetaTrader 4 and 5 platforms are an ideal alternative for traders in Tanzania because of their user-friendliness and their ability to be customized. Because it is easy to use and has a short learning curve, it is suitable for both inexperienced traders and more seasoned traders alike. It is available in a few different languages, and it incorporates a user manual directly within the software itself.
WebTrader Platforms
MetaTrader 4
MetaTrader 5
While using MetaTrader 4 or 5, it is not necessary to download any other program, install any other software, or operate any other software. The online trading platform known as WebTrader gives users access to both MT4 and 5.
MT4 and MT5 features may be accessed, however rather than being supplied through a desktop program, they are accessed through a web-based interface.
Simply opening a new tab or window in your web browser gives Tanzania traders the ability to use the platform from any location in the world with an active internet connection.
The internet platform encrypts all the data before it is delivered, so ensuring that the confidentiality of all customer information is maintained.
Trading App
MetaTrader 4
MetaTrader 5
The mobile applications for MT4 and 5 provide users with access to some of the most innovative capabilities available to traders today.
On the mobile app, you have access to most of the features that are available on the desktop version, including interactive charts, a full variety of order options, popular analytical tools, and more.
Both MetaTrader 4 and MetaTrader 5 are available for download through the app shops that are specific to Android and iOS.
Opening, managing, and closing positions, in addition to doing market analysis, are all possible with the assistance of these potent and all-encompassing applications. In addition, push alerts may be customized to alert Namibian traders of certain occurrences as soon as they take place.
Tickmill Range of Markets
Tanzania traders can expect the following range of markets from Tickmill:
Forex
Stock Indices
Energies
Precious Metals
Bonds
Cryptocurrencies
Broker Comparison for Range of Markets
| Tickmill | GO Markets | Fidelity Investments | |
| ➡️️ Forex | Yes | Yes | No |
| ➡️️ Precious Metals | Yes | Yes | No |
| ➡️️ ETFs | No | No | Yes |
| ➡️️ CFDs | Yes | Yes | No |
| ➡️️ Indices | Yes | Yes | No |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | No |
| ➡️️ Options | No | Yes | No |
| ➡️️ Energies | Yes | Yes | No |
| ➡️️ Bonds | Yes | No | Yes |
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 230,000 Tanzanian Shilling
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Trading and Non-Trading Fees
Spreads
The sort of spreads traders might anticipate will differ dependent on their trading style. In addition, the trading account, trading circumstances, and the overall market conditions on the trading day will all play a part. Among the most typical spreads noticed by traders are the following:
Pro Account – 0.0 pips
Classic Account – 1.6 pips
VIP Account – 0.0 pips
Commissions
Tickmill offers commission-free trading on the Classic Account, which has marked-up spreads to cover the broker’s fee for facilitating the trade. However, Tickmill charges commission fees for trading accounts in the following categories:
Pro Account – $2 per side, per 100,000 (standard lot) traded
VIP Account – $1 per side, per 100,000 (standard lot) traded
In addition, Even though there are no overnight fees associated with the Islamic Account, there are still some commissions that must be paid when holdings are maintained overnight.
Overnight Fees, Rollovers, or Swaps
Swaps are the overnight interest that traders must pay to keep an open position the next day in forex trading. In certain instances, however, traders can be credited when they keep positions open.
To keep a position open overnight, Tanzania traders must pay interest on the currency they sold and receive interest on the currency they purchased. The interest rates of the nations involved in a currency pair, as well as the current situation of the market, are used to calculate Tickmill’s swap rates.
The swap prices are executed at midnight, according to the platform’s time. Every currency pair receives an exchange rate swap, which is computed using a standard lot of 100,000 base currency units.
Because of the swaps, a trader’s position will be issued a new “value date” if it is left open overnight. When the exchange’s new value date is switched to Monday, there will be a triple swap rate every Wednesday night.
The following are some typical nightly fees that can be expected from Tickmill:
EUR/USD – a long swap of -3.54 pips and a short swap of 0.39 pips
USD/JPY – a long swap of -1.21 pips and a short swap of -2.62 pips
GBP/USD – a long swap of -1.89 pips and a short swap of -3.44 pips
USD/CHF – a long swap of 0.39 pips and a short swap of -3.71 pips
USD/CAD – a long swap of -2.42 pips and a short swap of -1.84 pips
AUD/USD – a long swap of -1.96 pips and a short swap of -1.75 pips
NZD/USD – a long swap of -0.67 pips and a short swap of -1.96 pips
Deposit and Withdrawal Fees
Tickmill does not charge any deposit or withdrawal fees on any of the available payment methods.
Inactivity Fees
Inactivity fees are not charged by Tickmill when a trading account goes dormant.
Currency Conversion Fees
Because Tickmill only supports USD, EUR, GBP, and PLN as the default currencies of trading accounts, Tanzanian traders who make deposits or withdrawals in TZS can face currency conversion fees according to the exchange rates between these currencies and TZS.
Tickmill Deposits and Withdrawals
Tickmill offers the following deposit and withdrawal methods:
Bank Transfer
Debit Card
Credit Card
Skrill
Neteller
Sticpay
Fasapay
UnionPay
Nganluong
QIWI
WebMoney
How to Deposit Funds with Tickmill
To deposit funds to an account with Tickmill, Tanzania traders can follow these steps:
Traders in Tanzania may connect to their Client Area on the website
Traders can then select the funding option that best suits their needs
Traders can provide the amount that they wish to deposit, deposit currency, and proceed with any extra steps that are required by the payment provider
Tickmill Fund Withdrawal Process
To withdraw funds from an account with Tickmill, Tanzania traders can follow these steps:
By entering their client area on the official website, traders can access the withdrawal request form.
Traders can complete the withdrawal request form, submit it, and wait for their money to be remitted to their bank account once Tickmill has authorized it.
All inquiries will be answered within one business day by the Tickmill Finance Department. Requests sent after hours, on weekends, or holidays will be addressed the next business day.
Traders should keep in mind that they must the payment method that they used to fund their trading accounts. Furthermore, the trader can withdraw cash from their trading account even if they have any open positions.
However, the trader’s free margin must be bigger than the amount requested when moving money from the trading account to the wallet to do this. Traders who do not have enough free margin in their accounts cannot transfer cash from their trading accounts to their wallets.
Tickmill Education and Research
Education
Tickmill offers the following Educational Materials:
Webinars
Seminars
eBooks
Video Tutorials
Infographics
Forex Glossary
Fundamental Analysis
Technical Analysis
Educational Articles
Market Insights
Tickmill also offers Tanzania traders the following additional Research and Trading Tools:
Access to AutoChartist
Access to Myfxbook Copy Trading
Economic Calendar
Forex Calculators
Tickmill VPS
Pelican Trading
Advanced Trading Toolkit
Acuity Trading
Tickmill Bonuses and Promotions
Tickmill offers Tanzania traders the following bonuses and promotions:
Trader of the Month Contest
Tickmill’s NFP Machine
$30 Welcome No-Deposit Bonus Account
The chance to get paid to trade
How to open an Affiliate Account with Tickmill
To register an Affiliate Account, Tanzanians can follow these steps:
Traders can navigate to the Tickmill website according to their region under Seychelles, South Africa, United Kingdom, Malaysia, or Cyprus.
From the homepage, hover over the “Partnership” option and click on “Introducing Broker.”
Read through the information provided on Tickmill’s partnership and click on the option to register for the affiliate program.
Complete the application form by filling in the requested fields on personal information and expertise.
This will complete the registration for the Client Area registration on the Tickmill website.
Next, very the profile by uploading proof of identity and proof of address.
Enter the IB Room to activate the account and access the comprehensive materials offered by Tickmill to start attracting and referring clients.
Tickmill Affiliate Program Features
Companies and individuals around the world utilize Introducing Brokers to introduce new customers to Tickmill. Tickmill pays commissions to all its partners and Introducing Brokers as a way of saying “thank you” for their continued support.
It is free to sign up as an Introducing Broker, which is the easiest approach to enhance affiliate revenues.
Tanzanians can make Tickmill trading more accessible to their clients by becoming Tickmill Partners.
The following are some of the benefits that Tickmill provides to its partners:
Partners can earn $10 for each conventional account transaction and $2 for each Pro or VIP account trade when they refer a new customer.
Partners can earn an additional 5% commission on referrals who sign up for a Pro Account if the partner recommends that their referral do so.
IB room, advanced fund and account management capabilities are accessible to all partners.
Pre-made advertising and promotional materials are available to attract new clients.
Tickmill Customer Support
Customer service is available through phone, email, and online chat from Monday through Friday during regular business hours. Support is available in multiple languages and the agents are prompt, helpful and friendly.
Tickmill Corporate Social Responsibility
Tickmill believes that Corporate Societal Responsibility can facilitate greater social influence. Tickmill offers a wide portfolio of CSR projects that benefit global communities, as well as the social welfare of individuals and athletic talent.
Among the most notable activities of Tickmill include a promise to the Gajusz Foundation for Terminally Ill Children and donations to the Bärenherz Children’s Hospice in Germany.
Verdict on Tickmill
Tickmill may be right for you if you want to improve your trading. While the broker’s services cater to both novice and experienced traders, our comprehensive review indicates that the latter will gain the most.
Tickmill’s trading platforms are primarily designed for professional traders, but they do cater for beginners by offering several instructional resources. Once you get the hang of it, they are simple to use, but there is a learning curve, and you may have to use instructional guides and videos.
Third-party tools such as AutoChartist, which gives real-time trading recommendations, will be available to both beginners and expert traders. To truly comprehend it, you must be familiar with technical analysis chart patterns.
Advanced traders will like the variety of account types offered, as well as the affordable costs on its commission-based, raw spread account, which includes access to professional markets. Beginner traders will like the easy-to-use mobile trading software, as well as the commission-free trading account and video lessons.
Tickmill Current Popularity Trends
👉 According to Google Trends, Tickmill has seen an increase in Google Searches in the past month.
Tickmill Pros and Cons
| ✔️ Pros | ❌ Cons |
| Tickmill has a remarkably simple account registration process for demo, Islamic and Live accounts | The Islamic account has administrative fees that are applied on positions that are held longer than three days |
| Trading fees are below the industry average | There is no TZS-denominated account for Tanzanian traders |
| Tickmill is a fully licensed, verified, and well-regulated broker | Currency conversion fees apply when deposits or withdrawals are made in currencies other than USD, GBP, EUR, or PLN |
| There is a comprehensive affiliate program offered to partners and introducing brokers with lucrative commissions | There are no fixed spreads offered |
| There is an Islamic account offered to Muslim traders, ensuring that halal trading conditions are available | There are limited financial instruments to choose from |
| The demo account is unlimited if it is used frequently | |
| There are no inactivity fees charged by Tickmill | |
| Tickmill does not apply any deposit or withdrawal fees |
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 230,000 Tanzanian Shilling
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Frequently Asked Questions
Is Tickmill on MT4?
Yes, Tickmill is on MT4 in addition to offering MetaTrader 5. Both these platforms can be used on desktop computers, web browsers, and mobile phones.
Is Tickmill regulated?
Yes, Tickmill is well-regulated by the following regulators:
- FCA in the United Kingdom (Tickmill UK Ltd.)
- CySEC in Cyprus (Tickmill Europe Ltd.)
- FSCA in South Africa (Tickmill South Africa (Pty) Ltd.)
- FSA in Seychelles (Tickmill Ltd.)
- LFSA in Malaysia (Tickmill Asia Ltd.)
Is Tickmill safe or a scam?
Tickmill is not a scam broker. Tickmill has a trust score of 82 out of 100 in addition to being regulated by one Tier-1 regulator, two Tier-2 regulators, and two Tier-3 regulators in the five regions where Tickmill operates. In addition, Tickmill also has many positive reviews and a high Trustpilot score.
Does Tickmill offer cent accounts?
No, Tickmill does not have a Cent Account. In addition to this, Tickmill has a minimum deposit of 230,000 TZS or an equivalent to 100 units in USD, EUR, GBP, or PLN, which means that Tickmill may not be suited for complete beginners.
Does Tickmill offer Crypto?
Yes, Tickmill offers several cryptocurrencies that can be traded as CFDs on either MetaTrader 4 or MetaTrader 5 on the Classic, Pro, and VIP accounts.
Does Tickmill have a no-deposit bonus?
Yes, Tickmill offers a $30 Welcome Account that is credited with trading credit to get new traders started. This bonus can be claimed without initial investment and can be used towards trading activities. If traders have made profits while using these free funds, they will be eligible for withdrawal.
Does Tickmill have Nasdaq?
Yes, Tickmill offers Nasdaq under USTEC as a part of its comprehensive CFD on Indices portfolio alongside several other popular indices that can be traded.
What is the withdrawal time for Tickmill?
The withdrawal time is between 1 working day up to several, depending on the withdrawal method that you chose and your bank’s internal processes.
Does Tickmill have Volatility 75?
No, Tickmill does not currently offer Volatility 75 or VIX as a tradable financial instrument.
Conclusion
Now it is your turn to participate:
Do you have any prior experience with Tickmill?
What was the determining factor in your decision to engage with Tickmill?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues with Tickmill such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
