I get asked about Tickmill often, so here is my opinion, backed by facts. I have worked with this broker for more than four years, I have traded there, and I recently made a withdrawal. For me it is a reliable broker, and in this review I will tell you why and which detail I keep in mind.
What Tickmill is and who regulates it
Tickmill is a Forex and CFD broker that operates in almost every country in the world, including Latin America. Like many international brokers, it works with several companies in the group, each with its own license:
I think it is normal for a broker to have an offshore entity to serve clients from all over the world: that is how the big ones operate. What I look at is something else: how it behaves with clients’ money. When you sign up, check which group entity you are opening your account with, because your protections depend on it.
My experience: hassle-free withdrawals
In all these years I have had no problems with withdrawals. My latest crypto withdrawal took a little over a day, a bit longer than I would like, but it arrived in full and nobody asked me for explanations or extra paperwork. For me, that is what defines an honest broker: the money leaves as easily as it comes in.
What I value most:
- Many instruments: Forex pairs, indices, commodities and CFDs on cryptocurrencies.
- Global presence: you can tell it wants to work in every country, and that includes Latin America.
- An alternative to exchanges: if you trade crypto intraday, CFDs let you profit from both rises and falls without having to keep coins on an exchange.
What you should know beforehand
A CFD on Bitcoin is not Bitcoin: you trade the price, you do not own the coin. For the short-term trader it is convenient; for someone who wants to save in crypto for the long term, it is not the same thing.
Also, check the costs of the account type you choose on the platform. I explained how to compare them in the article on spread, commission and swap. And as with any broker, start with a test:
How to open an account step by step
- Sign up with your email and choose the account type. If you are just starting out, a standard account is the simplest to understand.
- Complete the verification with your ID and a proof of address. This is normal at any serious broker and protects your money.
- Deposit a small amount with a method in your own name and note how much arrived. Options and costs in how to deposit from Latin America.
- Practice first with minimum lots and a stop loss on every trade.
My conclusion
Tickmill is one of the brokers I recommend for trading Forex and crypto CFDs from Latin America. It is not the only one: my rating also includes FxPro and RoboForex, which have been in the market for many years. If you want to try it, you can open an account with Tickmill and start small, applying a clear risk rule, like the one I explain in how to calculate the lot size.
Where to trade
These are the brokers and exchanges I use that work with clients from Latin America. Always check that the service is available in your country and start small.
Risk warning: CFDs, Forex and crypto derivatives carry a high risk of losing money due to leverage. This article is not investment advice.
