Tickmill — review & details
A Ugandan account would sit with Tickmill Ltd under the Seychelles Financial Services Authority. The group's FCA and CySEC licences cover different entities and different clients, and CMA Uganda licenses no online forex broker at all.
Tickmill
★★★★☆
Tickmill Ltd, Financial Services Authority of Seychelles (SD008). FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) entities do not cover Ugandan clients.
Regulator (Local Clients)
Not verified in this research - check UGX or mobile-money funding before opening an account.
Local Currency Support
Margin trading on the group's platforms; the exact list was not read during this research.
Platforms
Traders who want the group's licence structure spelled out before they decide.
Best For
forex
Type
Pros
- Every group entity and licence number is published, so you can see exactly which one would hold your funds.
- Uganda is not among the jurisdictions Tickmill says its services are not directed at.
- The group has cleared a tier-one authorisation elsewhere, which is more than many offshore-only brands can show.
Cons
- Most retail investors lose money on leveraged products, and Tickmill's own warning is that losses can exceed the initial investment.
- Seychelles FSA regulation offers limited protection to a Ugandan client and no compensation scheme.
- Because CMA Uganda licenses no online forex broker, no Ugandan authority can help you recover funds or resolve a dispute.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare account types on Tickmill's own site.
Funding and withdrawal costsNot verified; cross-border payment and conversion costs usually dominate.
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 offshore from Uganda and answer 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). FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) entities do not cover Ugandan clients. | Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. Not licensed by CMA Uganda. |
| Local Currency Support | Not verified in this research - check UGX or mobile-money funding before opening an account. | Not verified in this research - check whether UGX funding or mobile money is offered before opening an account. |
| Platforms | Margin trading on the group's platforms; the exact 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 the group's licence structure spelled out before they decide. | Ugandans who want the covering entity named and its licence checkable, given no local licence exists. |
| Visit Tickmill → | Visit FXTM → |
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