Tickmill — review & details
Tickmill Ltd under the Seychelles Financial Services Authority is the entity that would take a Malawian client. The group's FCA and CySEC licences apply to other entities, and no Malawian regulator supervises retail forex 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 Malawian clients.
Regulator (Local Clients)
Not verified, and MWK funding is unlikely - assume a card or e-wallet in a major currency.
Local Currency Support
Margin trading on the group's platforms; the exact list was not read during this research.
Platforms
Traders who want the licence structure made explicit before committing money offshore.
Best For
forex
Type
Pros
- The group publishes each entity and licence number, so the offshore reality is visible rather than hidden.
- Malawi is not among the jurisdictions Tickmill says its services are not directed at.
- A tier-one authorisation exists somewhere in the group, which is a meaningful signal about the operator even though it does not cover you.
Cons
- Most retail investors lose money trading leveraged products, and Tickmill's own warning is that losses can exceed your initial investment.
- Seychelles FSA regulation offers limited protection and no compensation scheme to a Malawian client.
- No Malawian authority licenses or supervises retail forex broking, so there is no domestic route to complain, and exchange control makes funding and repatriating money awkward.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare account types on Tickmill's own site.
Funding and conversion costsNot verified; getting kwacha offshore and back is likely to be the dominant cost.
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 fund an offshore account within Malawi's exchange-control rules.
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 Malawian clients. | Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Malawian licence exists or is possible. |
| Local Currency Support | Not verified, and MWK funding is unlikely - assume a card or e-wallet in a major currency. | Not verified, and MWK funding is unlikely - assume you will need a card or e-wallet in a major currency. |
| Platforms | Margin trading on the group's platforms; the exact list was not read during this research. | Web and mobile trading platforms; the exact list was not read during this research. |
| Best For | Traders who want the licence structure made explicit before committing money offshore. | Malawians who accept they are dealing entirely offshore and want the covering entity stated plainly. |
| Visit Tickmill → | Visit FXTM → |
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