My experience trading with Tickmill

Why did I open an account with Tickmill?

Well, I chose Tickmill because I wanted a broker that had a low minimum deposit, raw spreads, TradingView platform and tier-1 regulation. You see, most brokers who offer raw spread accounts always have high minimum deposits (usually above $100) and this was not the case for Tickmill.

Tickmill's Account Opening Process Was Fast

I was able to open my Tickmill account in about two working days. I began the account opening process and uploaded my means of identification (NIN slip) the first day, and by the second day my Tickmill account was approved, and my user profile/wallet had been created.

I am in Nigeria, so my Tickmill account was placed under their Seychelles entity but it's okay, Tickmill is still regulated by the FCA UK and has a global presence so it's not like I am afraid they will scam me.

I Opened the Tickmill Raw Spread TradingView Account

After my Tickmill wallet was created, I had to create the actual trading account which will be linked to the wallet.

I opted for the Tickmill Raw Spread TradingView account because this account spreads on EUR/USD (which i mainly trade) are almost zero.

While the spreads are from 0.0 pips I will have to pay a fixed commission on every trade. I also went for the raw spread account because it can be connected to the TradingView charting platform.

Tickmill Deposit Was Instant

Okay the Tickmill minimum deposit in Nigeria is $20 (around NGN30,000) when using the local bank transfer method. I was able to deposit $20 in naira equivalent instantly by transferring funds from my bank to the Tickmill Nigeria collections account.

Connecting Tickmill to TradingView Was Easy

I found out how to connect Tickmill to TradingView by going to by calling up my trading account and clicking the "Trade" button. This took me straight to the TradingView charts.

I placed My FIrst Live Trade on Tickmill TradingView

I was able to open a long trade for EUR/USD on the TradingView platform using my Tickmill raw spread account. The Tickmill spread for EUR/USD was low at 0.05 pips, but I will also have to pay a commission when I close the trade.

I closed the trade in profit and was charged a commission. I guess this is how raw spread accounts are priced, their spread is almost zero but after the trade a commission is charged.

Tickmill has two mobile apps which is confusing

When i was trading on TradingView desktop, there was a need to monitor my positions on the Tickmill mobile app. I tried to download the app and discovered they were two different mobile apps.

1. The "Tickmill Mobile" App is for funding your account and opening new accounts

2. The "Tickmill Trader" App is for trading. I reached out to their customer support and they confirmed this.

It is really confusing and i wish Tickmill just had one mobile app instead of two. However, the Tickmill Trader app works well, and I can trade from it.

The Tickmill Trader App Was Great

I was really impressed by the features and graphics in the Tickmill Trader mobile app. It had many risk management & security features i haven't seen on other apps I have used.

Tickmill Withdrawal Delays

Was kind of disappointed that Tickmill didn't process my withdrawal instantly and when i contacted them they said it is on the queue and I should expect it after 24 hours.

The lack of instant withdrawals at Tickmill is a deal-breaker for me. I do not like that I cannot access my funds immediately and I have to wait for days to get the withdrawal. Another thing I don't like about Tickmill is their MT5 platform time is not set to local Nigerian time. Their MT5 time is 2-hours ahead of Nigerian time and this messes up my brain when I am trying to do technical analysis.

I guess they want to earn nightly interest on your money that's why they only process withdrawals after one day. How dishonest can a broker be., And the annoying thing is Tickmill deposits are instant while withdrawals are not 😒

Tickmill Declined My Withdrawal

They declined my withdrawal after making me wait for 2 working days. The reason for declination was I have to withdraw to the exact account i deposited from. This is very inconveniencing, and I didn't expect this kind of rule from a broker of Tickmill's status. Several brokers don't have this rule and if you deposited via bank transfer, they allow you withdraw to any bank account so far as the account is in your name.

I Re-Initiated The Withdrawal & They Approved It Immediately

I had to restart the withdrawal process, this time i put the exact account i used to deposit. To my surprise, Tickmill approved the withdrawal within seconds of receiving it.