Tickmill is a forex and CFD broker co-founded by Ingmar and Illimar Mattus. UK clients deal with Tickmill UK Ltd (FCA), EU clients with Tickmill Europe Ltd (CySEC), international clients with Tickmill Ltd in the Seychelles (FSA) and South African clients with Tickmill South Africa (Pty) Ltd (FSCA, according to the firm).
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Conduct Authority (FCA) | 717270 | Tickmill UK Ltd | Authorised Checked 4 Oct 2026 | Register entry for Tickmill UK Ltd (opens in a new tab) 1 |
| Cyprus Securities and Exchange Commission (CySEC) | 278/15 | Tickmill Europe Ltd | Authorised Checked 4 Oct 2026 | Register entry for Tickmill Europe Ltd (opens in a new tab) 2 |
| Financial Services Authority Seychelles (FSA) | SD008 | Tickmill Ltd | Authorised Checked 4 Oct 2026 | Register entry for Tickmill Ltd (opens in a new tab) 3 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Tickmill’s UK, Cyprus and Seychelles companies are on their regulators’ registers; we could not check the South African company’s FSCA licence. UK and EU clients get segregated client money, negative balance protection, a compensation scheme and an ombudsman, but the Seychelles agreement that covers international clients has no client money segregation or negative balance protection terms, names no compensation scheme and offers only a complaint to the regulator. The co-founders Ingmar and Illimar Mattus control the UK company and Tickmill names its board and executives, but it does not explain how the group is owned. Tickmill’s pages put FSCS cover at £120,000, while the limit for investments is £85,000, as its own terms say. The regulatory record is light: alert-list entries in India and Malaysia. Costs, execution and funding terms are clearly published, apart from the currency conversion mark-up.
Tickmill’s licences page and each set of terms name the company, its regulator and its licence number, and the risk warnings name the company clients deal with.
Companies House names the co-founders Illimar and Ingmar Mattus as persons with significant control of Tickmill UK Ltd, each holding more than 25% but not more than 50% of the shares and votes.
The three licences we could check are current, with no suspension or restriction shown.
The terms and the licences page give the names and registered addresses of the companies clients deal with, and registration numbers for the UK and Cyprus companies.
Each company publishes a complaints procedure with response times: four to eight weeks in the UK, two months in the EU and 7 to 14 working days in the Seychelles.
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Reduced the enforcement dimension by 0.5 points (low severity, 6.8 years before the review, counted at a quarter of its weight).
Reduced the enforcement dimension by 0.5 points (low severity, 6.6 years before the review, counted at a quarter of its weight).
Partly met We matched Tickmill UK Ltd on the FCA’s list of investment firms, Tickmill Europe Ltd on CySEC’s register and Tickmill Ltd on the Seychelles FSA’s list of securities dealers. We could not check the South African company’s FSCA licence or the UK company’s DFSA representative office.
Not met We found no complaint statistics published by Tickmill, and its UK company is below the thresholds for the FCA’s and the ombudsman’s firm-level tables.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 1234
We matched Tickmill UK Ltd on the FCA’s list of investment firms, Tickmill Europe Ltd on CySEC’s register and Tickmill Ltd on the Seychelles FSA’s list of securities dealers. We could not check the South African company’s FSCA licence or the UK company’s DFSA representative office.
Permissions cover the services offered 123
CySEC authorises Tickmill Europe to execute orders and deal on own account in all instrument classes, with safekeeping as an ancillary service, and the FSA lists Tickmill Ltd as a securities dealer. The FCA’s published list does not show the UK company’s permissions.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Financial statements are available 91213
Tickmill UK Ltd files accounts at Companies House, most recently to 31 December 2025, and publishes MIFIDPRU disclosures, and Tickmill Europe publishes prudential disclosures for 2025. We found no financial statements for Tickmill Ltd in the Seychelles, which serves international clients.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Client money segregation is disclosed 5781415
The UK terms hold retail client money under the FCA’s client money rules, and the EU agreement keeps client money in segregated accounts with no title transfer for retail clients. The Seychelles agreement, which covers international clients, has no client money segregation terms.
An investor compensation scheme applies 5815161718
UK clients may claim from the FSCS (up to £85,000 for investments) and EU clients from the Investor Compensation Fund (up to EUR 20,000); Tickmill Europe also describes an insurance policy with Lloyd’s, which we did not see. No compensation scheme is named for clients of the Seychelles or South African companies.
Withdrawal terms are disclosed 519
The UK funding page lists withdrawal methods, no withdrawal commission, a minimum of 25 and processing within one working day, with bank wires arriving in two to seven working days. The terms commit to paying withdrawals within two to five business days of acceptance.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 3 points.
Warning lists and enforcement records have been searched 20212223
We searched CySEC, FCA and CVM records and the Indian and Malaysian alert lists, and ran web searches for other actions. The searches are listed in the source note. The Japan FSA’s list of warned unregistered firms (September 2026) includes Tickmill Ltd (2020).
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 21
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Listed on the Securities Commission Malaysia Investor Alert List 20
1 Jan 2020. Reduced the enforcement dimension by 0.5 points (low severity, 6.8 years before the review, counted at a quarter of its weight).
Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 23
1 Mar 2020. Reduced the enforcement dimension by 0.5 points (low severity, 6.6 years before the review, counted at a quarter of its weight).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent complaint outcomes show no adverse pattern 27
The ombudsman published four decisions on Tickmill UK Ltd in three years and upheld two; that is too few to show a pattern.
Complaint data is disclosed 28
We found no complaint statistics published by Tickmill, and its UK company is below the thresholds for the FCA’s and the ombudsman’s firm-level tables.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Costs are disclosed before account opening 582930
Tickmill publishes spreads and swap rates by instrument, the Raw account commission of USD 3 per lot per side and quarterly inactivity fees of £10 in the UK and 10 USD, EUR, GBP or CHF in the Seychelles. The Seychelles terms allow a mark-up on currency conversions without stating it, and the UK terms use a rate Tickmill sets.
An order execution policy is published 3132
The UK and EU execution policies explain the execution factors and venues: the UK company prices from liquidity providers and offsets client trades as matched principal, and Tickmill Europe executes orders itself or through Tickmill UK Ltd and LMAX Limited.
Leverage and margin terms are disclosed 5678
UK retail leverage is up to 1:30, with positions closed when equity falls below 50% of margin, and the EU agreement sets a 50% stop-out for retail clients (30% for professionals). The Seychelles agreement uses dynamic leverage based on a 1:1000 ratio, and we found no margin call or stop-out level for it.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 45111418
Tickmill’s licences and safety pages and its UK security of funds document say the FSCS protects UK clients up to £120,000, but the FSCS limit for investment firms is £85,000, as Tickmill’s own UK terms state; £120,000 is the limit for bank deposits.
An address and working contact channels are published 2579172533
The UK address matches Companies House, and the EU agreement’s Limassol address matches CySEC’s register, but Tickmill Europe’s June 2025 company information, compensation fund and complaints documents give a different address, Kedron 9, Mesa Geitonia.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Financial Conduct Authority (FCA) · Reference 717270 1
Dubai Financial Services Authority (DFSA) · Reference F007663 4
Representative office
Tickmill says the UK company has a representative office in the DIFC regulated by the DFSA. The DFSA register refused our requests.
Cyprus Securities and Exchange Commission (CySEC) · Reference 278/15 2
Financial Services Authority Seychelles (FSA) · Reference SD008 3
Securities dealer
Listed by the FSA as a securities dealer; the licence number is Tickmill’s own (the register shows none).
Financial Sector Conduct Authority (FSCA) · Reference FSP 49464 4
Stated by Tickmill. The FSCA register returned an error when we tried it.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes Tickmill (www.tickmill.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
In March 2020 Japan’s Financial Services Agency warned Tickmill Ltd, of Eden Island, Seychelles, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “TICKMILL”. The list gives the month only; we use 1 March 2020.
The Securities Commission Malaysia’s Investor Alert List includes “Tickmill” (www.tickmill.com/ms) for carrying on capital market activities of dealing in securities and derivatives. The list records the entry under the year 2020 without a specific date; we use 1 January 2020. The entry was still on the list when we checked on 4 October 2026.
Firms can respond to their profile and to any finding. No response has been published for Tickmill. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 6 Oct 2026 | Trust score 79 out of 100 Sound | 1.2 | Current |
No corrections have been made to this profile.
Shows Tickmill UK Ltd (FRN 717270), first authorised 29 July 2016, with status Authorised.
Licence 278/15 granted on 5 August 2015, company registration 340249, previous name Vipro Markets Ltd, address Spyrou Kyprianou 77, MGO Protopapas No. 2, 5th Floor, 3076 Limassol. Approved domain www.tickmill.com/eu. Services include reception and transmission of orders, execution of orders, dealing on own account and portfolio management in all instrument classes, with safekeeping as an ancillary service.
Lists Tickmill Ltd among licensed securities dealers at Office 1, 1st Floor, KLA Complex, Mont Fleuri, Mahe, with the email info@tickmill.com and the website www.tickmill.com. The register does not show licence numbers.
Lists Tickmill Ltd (Seychelles FSA securities dealer, licence SD008), Tickmill UK Ltd (FCA 717270, with a representative office regulated by the DFSA, reference F007663), Tickmill Europe Ltd (CySEC 278/15, Spyrou Kyprianou 77, Limassol) and Tickmill South Africa (Pty) Ltd (FSCA, FSP 49464, Office 11, 140 West Street, Sandton). Says client money is held in segregated accounts at tier-1 banks and that UK clients are protected up to £120,000 per person by the FSCS.
Terms of the UK company (09592225, FCA 717270, with a DIFC representative office regulated by the DFSA, F007663). Retail client money is held in pooled client accounts under the FCA’s client money rules. Negative balance protection applies to each retail account and is at Tickmill’s discretion for professional clients. FSCS cover for investments is stated as 100% of the first £85,000. Positions are closed when equity falls below 50% of margin. Withdrawals are paid within two to five business days of acceptance. Inactive client accounts are charged £10 a quarter after a year. Retail clients may complain to the Financial Ombudsman Service. Clause 27.7 lets Tickmill amend the agreement at any time without prior notice, with effect from posting on its website.
Retail leverage of up to 1:30 on major and minor currency pairs, with lower limits by instrument. The page warns that 69% of retail investor accounts lose money trading CFDs with Tickmill UK Ltd.
Terms of the Cyprus company (CySEC 278/15, Spyrou Kyprianou 77, Limassol). Client money is placed in segregated accounts with financial institutions such as credit institutions or banks, and the company does not enter title transfer collateral arrangements with retail clients. Retail positions are closed at a 50% margin level (30% for professional clients). Changes are notified with at least 15 business days’ written notice.
Terms of the Seychelles company (FSA securities dealer licence SD008, 1st Floor, KLA Complex, Mont Fleuri). The agreement contains no terms on segregating client money or on negative balance protection. Dynamic leverage is based on a ratio of 1:1000. Dormant client areas are charged 10 USD, EUR, GBP or CHF (40 PLN) a quarter, and Tickmill may add a mark-up to currency conversions, set in a schedule. Amendments take effect immediately unless otherwise stated. Some payments are processed by Procard Global Ltd (UK, 09369927), which Tickmill Ltd wholly owns.
Incorporated on 14 May 2015 and named TMILL UK LIMITED until 28 February 2018. Registered office First Floor, The Bengal Wing, 9A Devonshire Square, London EC2M 4YN. Directors: Duncan Innes Spence Anderson, Illimar Mattus, Ingmar Mattus, Baldish Kaur Pone and Derek Graeme Wilks. Persons with significant control: Illimar Mattus and Ingmar Mattus, each holding more than 25% but not more than 50% of shares and voting rights, and Duncan Innes Spence Anderson, who has significant influence or control. Accounts are filed up to 31 December 2025.
Names the group board: co-founders Ingmar Mattus (executive director) and Illimar Mattus, Jonathan Bar Sela (chief information and operating officer), Derek Wilks (chief financial officer), Nicholas Baumer (chief commercial officer) and Johnny Khalil (executive director and head of dealing of Tickmill Europe Ltd). Executives include the chief executives of Tickmill Europe Ltd (Valerijus Ovsianikas), Tickmill UK Ltd (Duncan Anderson) and Tickmill Ltd (Sudhanshu Agarwal), and the compliance heads of the UK and Cyprus companies.
Says Tickmill UK Ltd is a member of the FSCS and that clients are eligible for compensation of up to £120,000, that funds are held in segregated accounts with regulated banking partners, and which regulator oversees each company’s clients: the FCA for UK clients, CySEC for EU clients, the FSA for international clients and the FSCA for South African clients.
Regulatory disclosures on the UK company’s governance, risk management, own funds and remuneration.
Prudential disclosures for the year ended 31 December 2025 under the EU Investment Firms Regulation, covering governance, risk management and own funds.
Retail client funds are held in client money accounts at regulated financial institutions in the UK or EU, separate from the firm’s money; most professional clients are not covered and risk becoming unsecured creditors. States that the maximum FSCS payout per client is £120,000.
Explains the risks of trading CFDs, and that if the company became insolvent its creditors could not be paid from segregated client funds and eligible clients could claim from the Investor Compensation Fund.
Says clients of Tickmill Europe Ltd have negative balance protection (for professional clients case by case), that funds are held in segregated bank accounts, and that an insurance policy with Lloyd’s covers funds from EUR 20,000 to EUR 1,000,000 in addition to the Investor Compensation Fund. The page warns that 73% of retail investor accounts lose money trading CFDs with Tickmill Europe Ltd.
States that Tickmill Europe Ltd is a member of the Investor Compensation Fund, which pays each covered client up to EUR 20,000 or 90% of the claim, whichever is lower. Gives the registered office as Kedron 9, Mesa Geitonia, Limassol.
For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.
Lists funding methods with no deposit or withdrawal commission and a minimum withdrawal of 25. Withdrawals are processed within one working day and bank wires arrive in two to seven working days. Tickmill refunds bank fees of up to USD 100 on wire deposits of USD 5,000 or more and may charge an inactivity fee under its terms.
Includes an entry dated 2020 for “Tickmill” (www.tickmill.com/ms) for carrying on capital market activities of dealing in securities and derivatives.
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 38 is Tickmill, https://www.tickmill.com.
On 4 October 2026 we searched CySEC’s 1,173 board decisions, the FCA’s list, the CVM’s declaratory acts, KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for actions by the FCA, the FSA, the FSCA, the DFSA and others. The findings on this profile are what we found.
Lists Tickmill Ltd, Eden Island, Seychelles, warned in March 2020 for soliciting over-the-counter derivatives trading over the internet without registration in Japan; the service named is “TICKMILL”. The list gives the month only.
The compliance officer aims to resolve complaints within four weeks of acknowledgement, with up to four more weeks if needed; if a complaint is not resolved within eight weeks, the client receives a final response, and retail clients may refer it to the Financial Ombudsman Service.
Complaints are acknowledged within five business days and answered within two months, with a holding response if more time is needed; clients may then go to the Financial Ombudsman of the Republic of Cyprus within four months of the final response. The letterhead gives the address Kedron 9, Mesa Geitonia.
The compliance department aims to resolve complaints within 7 working days of acknowledgement, with up to 7 more working days if needed. Clients who are still not satisfied can complain to the Seychelles FSA.
Between 4 October 2023 and 4 October 2026 the ombudsman published four decisions about Tickmill UK Ltd, upholding two.
Neither dataset includes Tickmill UK Ltd; both publish firm-level figures only above minimum complaint volumes.
Classic account spreads from 1.6 pips with no commission; Raw account spreads from 0.0 pips with a commission of USD 3 per lot per side on forex and precious metals CFDs; explains how swap charges work.
Shows minimum and typical spreads and long and short swap rates by instrument, and a yearly swap charge of 10% on long cryptocurrency positions.
Explains the execution factors and venues: prices come from liquidity providers’ feeds, which also provide the cover for offsetting client trades on a matched principal basis.
Either the company or a third-party liquidity provider is the execution venue for client orders; the third-party venues named are Tickmill UK Ltd and LMAX Limited. Explains the execution factors.
Gives registration number HE 340249 and the registered office as Kedron 9, Mesa Geitonia, Limassol 4004.
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