Tickmill South Africa Review 2024

Founded in 2014, TickMill South Africa is a global broker that has served more than 150,000 clients and 350,000 registered accounts from 200+ countries in 14 different languages.

TickMill broker is a member of the global TickMill Group which owns several companies in different regions. The TickMill Group is regulated by five prominent regulators, namely the FCA of the UK, CySEC of Cyprus, FSCA of South Africa, FSA of Seychelles, and FSA of Labuan Malaysia to guarantee that the company complies with the international standards.

To start trading with this broker, traders need to open an account (Classic, Pro, or VIP) and deposit a minimum of 100 USD/EUR/GBP. After verifying their accounts, traders can enjoy ultra-low spreads starting from 0 pip, 1:500 leverage, and low to no commissions with an average execution time of 0.20 seconds on MT4 and MT5 trading platforms. Traders can trade in more than 80 instruments, including Forex, stock indices and oil, metals, bonds, and cryptocurrencies. In addition, all strategies are accepted in all accounts.

Some of the awards received by TickMill South Africa including the Best Trading Conditions 2021 from FxScouts Forex Awards 2021, the Best Forex Customer Service (Global) from Global Forex Awards 2021, and the Best Forex Trading Experience (Asia) from Global Forex Awards 2021, further prove the company’s dedication to its clients.

Deposits and withdrawals at TickMill South Africa are easily done with no processing fee. Traders can fund their accounts via bank transfers, bank cards, and e-wallets using different base currencies. The processing time for most payment methods is instant or within one working day.

TickMill South Africa offers various resources such as webinars, seminars, e-books, video tutorials, infographics, glossaries, analyses, articles, and market insights to equip inexperienced traders with the required knowledge and skills. The broker also provides Autochartist, Copytrading, economic calendar, calculator, VPS, and other helpful tools.

TickMill South Africa’s customer service team is ready to help traders 24/5 via email and live chat in 16 different languages. Traders can also contact them by phone during office hours. In addition, a comprehensive FAQs page is available on the website.

Account types offered by Tickmill South Africa

TickMill South Africa understands that different traders need different trading accounts. That is why the company offers three account types (Classic, Pro, and VIP) to meet every trading need of the clients.

All transactions are carried out in an ultra-fast NDD market execution with no re-quotes. Moreover, all strategies are allowed in all accounts, including hedging and scalping.

Classic

Minimum Deposit: $100
Leverage: 1:500
Minimum trade size: 0.01
Spread Type: Floating from 1.6 pip
Commission: No
Account Currency: USD, EUR, GBP, PLN

👉 Open Classic Account

Pro

Minimum Deposit: $100
Leverage: 1:500
Minimum trade size: 0.01
Spread Type: Floating from 0 pip
Commission: $4 \ lot
Account Currency: USD, EUR, GBP, PLN

👉 Open Pro Account

VIP

Minimum Deposit: $50000
Leverage: 1:500
Minimum trade size: 0.01
Spread Type: Floating from 0 pip
Commission: $2 \ lot
Account Currency: USD, EUR, GBP, PLN

👉 Open VIP Account

1. Classic Account

The TickMill Classic account is suitable for both new and experienced traders. With a minimum deposit of 100 USD/EUR/GBP, traders can enjoy spreads as low as 1.6 pips and leverage as high as 1:500. There is no commission for this account type, and the minimum trading lot is 0.01. Please note that the charts in this account only show the original market and spreads without any mark-up.

2. Pro Account

The TickMill Pro account is intended for professional and advanced traders. It offers tight spreads starting from 0 pip with a 2 currency unit commission per side per 100,000 traded. Traders need to deposit at least 100 USD/EUR/GBP to make use of leverage up to 1:500 with a minimum lot of 0.01.

3. VIP Account
The third account type is most suitable for big traders since the minimum required balance is $50,000. Traders can trade using ultra-low spreads starting from 0 pip, leverage up to 1:500, a minimum lot of 0.01, with a 1 currency unit commission per side per 100,000 traded. The TickMill VIP account is also available in USD, EUR, and GBP.

Traders can also use the Demo Trading Account to trade in more than 80 instruments across 5 asset classes using virtual money. They can try new strategies or practice their skills with no risk.

How to deposit and withdraw funds at Tickmill South Africa

TickMill South Africa offers free and fast deposit and withdrawal methods. Traders can use bank transfers, bank cards, and electronic payments to fund their accounts without paying any commission.

The list of the available payment methods with their processing time is as follows:

Bank transfer (USD, EUR, GBP) à within 1 working day (deposit and withdrawal)
Bank card (VISA, Mastercard) (USD, EUR, GBP) à instant (deposit), within 1 working day (withdrawal)
Skrill, Neteller, SticPay (USD, EUR, GBP) à instant (deposit), within 1 working day (withdrawal)
WebMoney (USD, EUR) à instant (deposit), within 1 working day (withdrawal)

All payment methods have the same minimum deposit and withdrawal amounts, i.e., 100 USD (or equivalent) and 25 USD (or equivalent), respectively.

TickMill South Africa will cover the fees up to 100 USD (or equivalent) for a $5000 deposit in one transaction. To receive this compensation, traders need to send a copy of the payment statement or another proof of transaction to the support team. After the TickMill team verifies it, the compensation will be transferred into your account within one calendar month.

Please note that the withdrawal method must be the same as the deposit method and under the same name registered in the trading account.

Is Tickmill South Africa reliable and safe?

The safety and reliability that a broker is willing to provide should be determining factors in choosing that broker. TickMill South Africa understands this and spares no effort to ensure that its clients' funds are safe and secure.

As a part of the TickMill group, this broker is regulated by five different regulators under different company names and regions:

TickMill UK Ltd.: Financial Conduct Authority (FCA)
TickMill Europe Ltd.: Cyprus Securities and Exchange Commission (CySEC)
TickMill South Africa (Pty) Ltd.: Financial Sector Conduct Authority (FSCA)
TickMill Ltd.: Financial Services Authority of Seychelles (FSA)
TickMill Asia Ltd.: Financial Services Authority of Labuan Malaysia (FSA)

In addition, the clients' funds are protected in segregated accounts within top-tier banks. TickMill South Africa also makes sure that its clients’ account balance will not fall below zero by providing the Negative Balance Protection.

This broker is also a member of MiFID II directives and multiple independent compensation funds (Investor Compensation Fund (ICF) under the name of TickMill Europe Ltd., and Financial Services Compensation Scheme (FSCS) under the name of TickMill UK Ltd. Therefore, TickMill South Africa clients will be compensated if the company fails to fulfill its obligations.

Types of spreads in Tickmill South Africa

TickMill South Africa offers ultra-low spreads starting from 0 pip for the Pro and VIP accounts, and competitive spreads from 1.6 pips for the Classic account.

There is no commission for the Classic account. However, there is a 2 currency unit commission for the Pro account and 1 currency unit for the VIP account per side per 100,000 traded.

Trading platforms offered by Tickmill South Africa

TickMill South Africa provides trading on MT4 and MT5 platforms accessible on Windows, macOS, Android, & iOS, in addition to the WebTrader platform.

Traders can enjoy advanced charting, analytical tools, order management tools, and EAs on the MT4 platform. This platform also offers three types of order execution, four types of pending orders, more than 30 technical indicators, and nine timeframes in 39 languages.

Traders can also choose the MT5 platform. Aside from advanced pending orders and analytical tools, this platform offers fully customizable charts and built-in economic calendars with four types of order execution, six types of pending orders, more than 38 technical indicators, and 21 timeframes. EAs, trading robots, and copy-trading are also available here.

Key advantages of trading with Tickmill South Africa

Regulated by FCA of the UK, CySEC of Cyprus, FSCA of South Africa, FSA of Seychelles, and FSA of Labuan Malaysia

accepting strategies, including hedging and scalping

Three simple trading accounts on MT4 and MT5 platforms: Classic, Pro, and VIP

A dedicated customer service team, available 24/5 via email, live chat, and phone

More than 80 instruments, including Forex, stock indices and oil, metals, bonds, and cryptocurrencies

Ultra-fast NDD market execution with no re-quotes

Low spreads starting from 0 pips with low to no commissions

A wide range of payment methods (bank transfer, bank cards, and e-wallets) with no fee

A minimum deposit of 100 USD and maximum leverage of 1:500 for all accounts

Various Forex resources and tools, such as webinars, seminars, tutorials, and articles