Tickmill — review & details
Clients outside the broker's UK, EU and South African entities are taken on by Tickmill Ltd, regulated by the Seychelles Financial Services Authority. The group's FCA and CySEC licences sit over other entities and do not cover a Tanzanian account.
Tickmill
★★★★☆
Tickmill Ltd, Financial Services Authority of Seychelles (SD008). Group entities under FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) do not cover Tanzanian clients.
Regulator (Local Clients)
Not verified in this research - check funding options for TZS or mobile money before opening an account.
Local Currency Support
Margin trading on the group's platforms; the exact platform list was not read during this research.
Platforms
Traders who want a broker group with a genuine tier-one licence somewhere in it, while understanding their own account sits offshore.
Best For
forex
Type
Pros
- The group structure and every licence number are published, so you can verify which entity would actually hold your money.
- Tickmill's stated exclusions name only Singapore, the United States, Iran, India and Japan, so Tanzania is not an excluded jurisdiction.
- The presence of FCA and CySEC licences elsewhere in the group indicates the operator has passed a tier-one authorisation somewhere, even if that is not the entity serving you.
Cons
- Most retail investors lose money trading leveraged products, and Tickmill's own warning is that losses can exceed your initial investment.
- Your account would sit with the Seychelles FSA entity, and Seychelles regulation offers limited practical protection and no compensation scheme for a Tanzanian client.
- The FCA, CySEC and FSCA licences the brand is best known for do not extend to a Tanzanian account, which is easy to misread from the marketing.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; account types differ and should be compared on Tickmill's own site.
Funding and withdrawal costsNot verified; cross-border payment and conversion costs typically dominate for East African clients.
Eligibility
- Aged 18 or over and not resident in Singapore, the United States, Iran, India or Japan.
- Able to pass identity and address verification.
- Able to move money to an offshore broker from Tanzania and satisfy your bank's questions about it.
Documents needed
- Government-issued photo ID
- Recent proof of address
- Payment-method verification where requested
How Tickmill compares in forex & cfd brokers
| Tickmill | FXTM (ForexTime) | |
|---|---|---|
| Regulator (Local Clients) | Tickmill Ltd, Financial Services Authority of Seychelles (SD008). Group entities under FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) do not cover Tanzanian clients. | Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Tanzanian licence. |
| Local Currency Support | Not verified in this research - check funding options for TZS or mobile money before opening an account. | Not verified in this research - check whether TZS funding or mobile money is offered before you open an account. |
| Platforms | Margin trading on the group's platforms; the exact platform list was not read during this research. | Web and mobile trading platforms; the exact platform list was not read during this research. |
| Best For | Traders who want a broker group with a genuine tier-one licence somewhere in it, while understanding their own account sits offshore. | Tanzanians who want the covering entity and its licence number stated plainly so they can check it themselves. |
| Visit Tickmill → | Visit FXTM → |
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