Tickmill.com Reviews

Based on looking at the website, Tickmill.com primarily functions as an online trading platform for various financial instruments, including Forex and Contracts for Difference CFDs on cryptocurrencies, stocks, indices, bonds, and commodities. The platform highlights features like competitive spreads, low commissions, and high leverage options. However, as a Muslim professional, it’s crucial to address that engaging in CFD trading, especially with leverage, often involves elements of Riba interest, Gharar excessive uncertainty/speculation, and potentially Maysir gambling. These elements are explicitly prohibited in Islamic finance. While the platform details its regulatory compliance with bodies like the FCA, the fundamental mechanics of these trading products, particularly the use of leverage and the speculative nature of CFDs, raise significant Sharia concerns. Therefore, for a Muslim seeking to maintain financial integrity according to Islamic principles, engaging with platforms like Tickmill.com for leveraged CFD trading is highly discouraged. It is imperative to seek out truly halal financial alternatives that align with ethical and interest-free dealings.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Tickmill.com and the Concerns of Riba, Gharar, and Maysir in Trading

Understanding Riba Interest in Leveraged Trading

When you engage in leveraged trading on platforms like Tickmill.com, you are essentially borrowing capital from the broker to increase your potential trading size. This borrowing, even if implied and not explicitly stated as an interest rate, often involves a time-based fee or a rollover charge for holding positions overnight. This is where the concept of Riba comes into play. Riba, or interest, is strictly prohibited in Islam, whether it’s earned or paid. In leveraged CFD trading, the broker often charges a fee for providing the leverage, which can be interpreted as Riba.

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• Implied Interest: While some platforms might not explicitly call it “interest,” the mechanism of charging for borrowed capital or overnight positions often functions as Riba.
• Rollover Fees: Many CFD contracts accrue a daily or overnight financing charge. This charge, which compensates the broker for the capital provided to maintain your leveraged position, is a direct form of interest.
• Sharia Perspective: Islamic scholars generally agree that any financial transaction where one party gains from a time-based charge on borrowed money falls under Riba, making such leveraged trading impermissible.

For example, if you open a position with 1:100 leverage, you are effectively trading with 100 times your own capital, with the remaining 99 parts being “borrowed.” The cost of maintaining this borrowed capital, even if disguised as a “financing fee,” can be Riba. According to data from various Islamic finance institutions, the global market for Sharia-compliant financial products is rapidly growing, indicating a strong demand for interest-free alternatives. In 2023, the global Islamic finance industry was estimated to be worth over $4.5 trillion, highlighting the availability and growth of ethical financial options.

The Element of Gharar Excessive Uncertainty in CFD Trading

CFDs are derivative products, meaning their value is derived from an underlying asset. When you trade CFDs, you are not buying or selling the actual asset e.g., a stock or a commodity but rather speculating on its price movement. This introduces a significant degree of Gharar, or excessive uncertainty, which is forbidden in Islamic transactions. Gharar exists when there is ambiguity or a lack of clear information regarding the subject matter of a contract, leading to potential exploitation or dispute.

• Lack of Ownership: In CFD trading, you never own the underlying asset. You are simply betting on its price direction. This speculative nature, without actual ownership, deviates from the principles of real economic activity encouraged in Islam.
• High Volatility: Markets for CFDs, especially cryptocurrencies, can be highly volatile. This extreme volatility, combined with leverage, amplifies the inherent uncertainty and risk, which often aligns with Gharar.
• Unforeseen Outcomes: The opaque pricing mechanisms and the highly speculative nature of CFDs mean that outcomes can be heavily influenced by factors beyond a trader’s control or understanding, contributing to Gharar.

For instance, the website mentions “Crypto CFDs: Trade Bigger, Pay Less 1:200 max leverage.” While attractive to some, this high leverage combined with the already volatile nature of cryptocurrencies exponentially increases Gharar. Recent reports from financial regulators, such as the ESMA European Securities and Markets Authority, have shown that a significant percentage of retail investor accounts lose money when trading CFDs, often exceeding 70-80%, underscoring the inherent uncertainty and risk involved.

Maysir Gambling and the Speculative Nature of Trading

• Zero-Sum Game: In many CFD trades, especially short-term ones, it can resemble a zero-sum game. One trader’s profit often directly corresponds to another trader’s loss, driven purely by price speculation rather than productive economic activity.
• Absence of Real Economy: Islamic finance emphasizes linking financial transactions to real economic activity, such as trade, production, and asset ownership. CFD trading, being purely speculative on price movements without involving actual assets, often lacks this crucial connection to the real economy.
• Addictive Behavior: The allure of quick profits in highly leveraged trading can lead to addictive behaviors, akin to gambling, where individuals chase losses or take excessive risks. Studies on trading addiction indicate that approximately 1-5% of active traders exhibit behaviors consistent with gambling addiction, further cementing the link between speculative trading and Maysir.

The “IB Grand Prix” promotion mentioned on Tickmill.com, offering cash prizes for trading performance, further reinforces the gambling-like element, as it incentivizes speculative trading for monetary rewards. Redpoints.com Reviews

Tickmill.com Alternatives for Halal Investing

For Muslims seeking to engage in financial growth and wealth creation, there are numerous Sharia-compliant alternatives that align with Islamic principles, avoiding Riba, Gharar, and Maysir.

Halal Investment Funds

These funds invest in Sharia-compliant equities, sukuk Islamic bonds, and other ethical assets.

They are managed by professionals who ensure all investments adhere to Islamic guidelines, screening out companies involved in prohibited activities e.g., alcohol, tobacco, gambling, conventional banking.

• Diversification: Halal funds offer diversification across various Sharia-compliant sectors, reducing individual investment risk.
• Professional Management: Experts manage the fund, making investment decisions based on thorough research and Islamic principles.
• Regular Purification: Some funds undertake a purification process, donating any incidental non-halal income to charity, ensuring the returns are pure.

Examples include Wahed Invest, Amanah, and various Islamic index funds offered by major financial institutions. The global market for Sharia-compliant investment funds reached $200 billion in assets under management by 2023, showcasing a wide range of options.

Ethical and Sharia-Compliant Equity Investing

Direct investment in the stock market can be permissible if certain criteria are met. Goinks.co.uk Reviews

This involves investing in companies that do not derive a significant portion of their income from prohibited activities and whose financial ratios e.g., debt to equity, interest-bearing assets fall within Sharia-compliant limits.

• Sector Screening: Focus on sectors like technology, healthcare excluding those involved in non-halal pharmaceuticals, real estate, and consumer goods.
• Financial Ratio Screening: Utilize tools or services that screen companies based on their debt levels, interest income, and other financial ratios to ensure Sharia compliance.
• Long-Term Strategy: Encourage long-term investment based on fundamental analysis rather than short-term speculation.

Platforms like Zoya and Islamicly provide screening services for individual stocks to help investors ensure compliance.

Real Estate and Asset-Based Investments

Investing in tangible assets like real estate is highly encouraged in Islam, as it represents real economic activity and asset ownership, avoiding the speculative nature of derivatives.

• Direct Property Ownership: Investing directly in residential or commercial properties for rental income or capital appreciation.
• Real Estate Investment Trusts REITs: Sharia-compliant REITs that invest in income-generating properties and distribute profits to investors.
• Murabaha Cost-Plus Financing: A permissible mode of finance where a bank buys an asset and sells it to the customer at a pre-agreed profit margin.

Real estate continues to be a stable investment, with global real estate markets seeing sustained growth of 3-5% annually in key regions over the past decade, making it a viable and permissible option.

Musharakah and Mudarabah Ventures

These are traditional Islamic partnership models where profits and losses are shared. Baby-walz.de Reviews

• Musharakah: A joint venture where partners contribute capital and/or expertise, sharing profits and losses according to pre-agreed ratios. This is ideal for entrepreneurial ventures.
• Mudarabah: A partnership where one party provides capital Rabb-ul-Mal and the other provides expertise and management Mudarib, with profits shared based on a pre-agreed ratio, but losses are borne solely by the capital provider unless due to Mudarib’s negligence.

These models emphasize risk-sharing and ethical business practices, promoting economic activity and shared prosperity.

Tickmill.com Regulatory Compliance and Account Types

While the Sharia concerns are paramount, it’s worth noting the operational aspects of Tickmill.com, as presented on their website.

Regulatory Oversight and Fund Protection

The website highlights that Tickmill operates under various regulatory bodies.

This is crucial for investor confidence in conventional finance, ensuring a degree of security and oversight, though it does not address the Islamic permissibility.

• Tickmill UK Ltd: Authorized and regulated by the Financial Conduct Authority FCA. This is a top-tier regulator known for its stringent rules.
• Tickmill Ltd Seychelles: Regulated by the Financial Services Authority FSA of Seychelles.
• Tickmill Europe Ltd: Regulated by the Cyprus Securities and Exchange Commission CySEC.
• Tickmill South Africa Pty Ltd: Regulated by the Financial Sector Conduct Authority FSCA.

The platform also claims “Your funds are insured! Up to $1,000,000 coverage,” which typically refers to compensation schemes in case of broker insolvency. For example, in the UK, the Financial Services Compensation Scheme FSCS protects up to £85,000 per person. While this offers some protection against broker default, it does not mitigate the inherent Sharia issues with the trading activities themselves. Iheartfragrance.co.uk Reviews

Account Types and Conditions

Tickmill.com offers different account types, each with varying conditions for spreads, commissions, and leverage.

These accounts are designed to cater to different trading styles, but all fundamentally involve the leveraged trading of CFDs, which carries the aforementioned Sharia concerns.

• Classic Account: Advertised as “commission-free” with spreads “From 1.6 pips” and “Max Leverage 1:1000.” Starting deposit is $100. The “commission-free” aspect might appeal, but the spread itself is a cost, and the high leverage remains problematic.
• Raw Account: Offers “tight spreads and competitive commissions.” Spreads are “From 0.0 pips” with “Max Leverage 1:1000.” Starting deposit is $100. While spreads are tighter, commissions are explicit, and the leverage is still very high.
• Tickmill Trader Account: This appears to be a mobile-focused RAW account, also with “Spreads From 0.0 pips” and “Max Leverage 1:1000.”

All these accounts facilitate leveraged trading, making them fundamentally problematic from an Islamic finance perspective due to Riba, Gharar, and Maysir.

The focus on “low commissions” and “tight spreads” simply relates to the cost structure of an impermissible activity, not its permissibility.

Tickmill.com Trading Platforms and Features

The website promotes several trading platforms and features designed to enhance the trading experience. Pokepetshop.com Reviews

From a Sharia perspective, while the tools themselves might be neutral, their application within a non-compliant trading framework makes them part of an impermissible activity.

Available Trading Platforms

Tickmill offers widely recognized platforms and their proprietary solution.

• TradingView: Highlighted as a “NEW PLATFORM ALERT!” with “Superior tools” and “Unbeatable conditions.” TradingView is popular for its advanced charting, indicators, and community features.
  • Key Features: Customizable charts 110+ drawing tools, 400+ built-in indicators, 100+ fundamentals, global trading community. This platform is geared towards detailed technical analysis and social trading, which are all part of the speculative nature of CFDs.
• MetaTrader 5 MT5 & MetaTrader 4 MT4: Industry-standard platforms widely used for Forex and CFD trading.
  • Key Features: Advanced pending orders, superior analysis tools, fully customizable charts, built-in economic calendar, Expert Advisors EAs for automated trading. These platforms are designed for rapid execution and complex trading strategies, often associated with short-term speculation.
• Tickmill Trader: A proprietary mobile trading app.
  • Key Features: Secure face recognition iOS and fingerprint Android, customizable asset watchlist, easy access to Demo and Live account in one place, smooth pinch-to-zoom feature on charts. This emphasizes convenience and on-the-go trading, further facilitating frequent, speculative activity.

The sophistication of these platforms serves to make speculative trading more accessible and seemingly professional, but it does not change the underlying Sharia concerns.

Range of Markets and Asset Classes

Tickmill.com offers CFDs on a broad range of asset classes.

For a Muslim, trading in these CFDs remains problematic due to the lack of asset ownership, leverage, and speculative nature. Hunters.com Reviews

• Cryptos CFDs: “No Commissions, Tight Spreads 24/7 Trading Leverage up to 1:200.” The volatility and lack of underlying asset ownership in crypto CFDs make them particularly problematic. The entire crypto market size was over $2.5 trillion in early 2024, but this doesn’t validate CFD trading in them.
• Forex: “60+ currency pairs Leverage up to 1:1000 0.0 pips typical spread on Majors.” Currency trading, especially spot trading without leverage, can be permissible under strict conditions e.g., immediate exchange, no interest. However, leveraged forex CFDs fall under Riba and Gharar. The Forex market trades over $7 trillion daily, showing its scale, but also the scale of potential impermissible transactions.
• Stocks & ETFs CFDs: “500 stocks & ETFs Leverage up to 1:20 Dividend Payments 0 commissions.” Again, these are CFDs, meaning no actual ownership, and the leverage introduces Riba.
• Indices CFDs: “15+ indices Low spreads Leverage up to 1:100.”
• Bonds CFDs: “Trade German bonds Spreads from 0.0 Leverage up to 1:100.” Trading bonds inherently involves interest Riba unless it’s a specific Sharia-compliant bond Sukuk which is not the case here.
• Commodities CFDs: “Precious metals and energies Spreads from 0.0 Leverage up to 1:1000.” Trading commodities like gold or silver via CFDs is particularly problematic as it contradicts the Islamic principle of physical possession for such assets.
• Futures & Options available under Tickmill UK Ltd: “S&P 500, DJIA, NASDAQ Low deposit requirement $1,000 Competitive commissions.” These are complex derivatives and highly speculative, almost universally considered impermissible in Islam due to extreme Gharar and Maysir.

The emphasis on “exceptional trading conditions” and “competitive spreads” for all these asset classes simply makes the impermissible more attractive, without addressing the fundamental Sharia concerns.

How to Avoid Tickmill.com and Similar Platforms

For a Muslim, the best approach is to completely avoid platforms that facilitate Riba-based, Gharar-laden, and Maysir-prone financial activities.

Prioritizing Halal Financial Education

Understanding the principles of Islamic finance is the first step.

This involves learning about Riba, Gharar, Maysir, and the permissibility of various financial instruments.

• Seek Knowledge: Consult reputable Islamic scholars and institutions specializing in Islamic finance. Many universities now offer courses or degrees in this field.
• Read Books and Articles: There’s a growing body of literature on Islamic finance, offering detailed guidance on permissible and impermissible transactions.
• Attend Seminars: Participate in webinars or seminars on Islamic finance to stay informed and clarify doubts.

Seeking Guidance from Islamic Finance Experts

Before engaging in any financial transaction, especially complex ones, it is prudent to seek advice from a qualified Islamic finance expert. Solightify.co.uk Reviews

• Consult Scholars: Approach local or international Islamic scholars who specialize in contemporary financial issues.
• Look for Certified Professionals: Some financial advisors are certified in Islamic finance and can provide guidance on Sharia-compliant investments.

Utilizing Halal Financial Screening Services

Several online tools and services can help screen investments for Sharia compliance.

• Islamicly, Zoya: These apps and websites provide Sharia compliance screenings for individual stocks and ETFs, helping investors identify permissible equities.
• Reputable Islamic Banks/Funds: Engage with established Islamic banks or investment funds that have a Sharia supervisory board to ensure compliance.

By proactively seeking halal alternatives and prioritizing Islamic principles, individuals can build wealth in a manner that is both financially sound and spiritually rewarding. The growth of the global Islamic finance industry, projected to reach $6 trillion by 2026, indicates a robust ecosystem of Sharia-compliant financial products and services.

Tickmill.com Pros & Cons from a Conventional Perspective

While the primary concern for a Muslim is the impermissibility of the core offerings, it’s useful to understand the typical conventional “pros and cons” that attract users to platforms like Tickmill.com, as it highlights what not to seek in halal alternatives.

Conventional “Pros” Highlighted by Tickmill.com

From a purely conventional trading perspective, the website emphasizes features that are generally seen as advantageous by non-Muslim traders.

• Competitive Pricing: The website consistently touts “competitive spreads, commissions and low margins.” For active traders, lower transaction costs can significantly impact profitability. For example, “0.0 pips typical spread on Majors” for RAW accounts.
• High Leverage: Offers up to 1:1000 leverage on Forex, allowing traders to control large positions with relatively small capital. This amplifies potential gains and losses.
• Wide Range of Markets: Access to Forex, Cryptos CFDs, Stocks & ETFs CFDs, Indices CFDs, Bonds CFDs, Commodities CFDs, Futures & Options CFDs offers diversification for speculative traders.
• Multiple Trading Platforms: Availability of popular platforms like MT4, MT5, TradingView, and their proprietary Tickmill Trader offers flexibility and advanced tools.
• Strong Regulatory Oversight: Regulation by FCA, CySEC, FSCA, and FSA provides a degree of security and trustworthiness in the conventional financial world.
• Fast Execution: The website claims “0.15 sec AVERAGE EXECUTION TIME,” which is crucial for high-frequency traders.
• Fund Protection: Claimed insurance up to $1,000,000 adds a layer of security for deposited funds though this doesn’t protect against trading losses.
• Promotional Offers: The “IB Grand Prix” incentive and “Crypto CFDs: Trade Bigger, Pay Less” promotions are designed to attract and retain traders.

Conventional “Cons” and Inherent Sharia Issues

Even from a conventional viewpoint, and definitely from an Islamic perspective, there are significant downsides. Steamerystockholm.com Reviews

• High Risk of Capital Loss: The website clearly states: “Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment.” This is a major conventional con, and from an Islamic perspective, it relates to the Maysir and Gharar elements. Statistical data from regulatory bodies consistently shows that 70-80% of retail CFD traders lose money.
• Complexity: Derivative products like CFDs, Futures, and Options are complex. They require significant understanding and experience, which can be a barrier for new traders and increase Gharar.
• Leverage Amplifies Losses: While leverage can amplify gains, it equally amplifies losses, often leading to rapid capital depletion. This is a primary mechanism by which Riba is operationalized through fees for extended positions and contributes to Maysir.
• Overnight Financing Costs Riba: While some accounts are “commission-free” or have tight spreads, overnight positions often incur swap fees or financing charges, which are a direct form of Riba.
• Lack of Asset Ownership: For a Muslim, this is a fundamental issue. Trading CFDs means you never own the underlying asset, which contradicts the Islamic emphasis on real economic activity and asset-backed transactions.
• Promotion of Speculation: The entire business model, with high leverage and derivative products, is built around speculation on price movements, which aligns with Maysir gambling.

From an Islamic standpoint, these “cons” are not merely drawbacks but fundamental prohibitions that render the platform’s core services impermissible.

Tickmill.com Pricing and why it’s still problematic

The “pricing” structure on Tickmill.com, referring to spreads and commissions, is designed to be competitive in the conventional trading market.

However, regardless of how “low” these costs are, the underlying nature of the transactions leveraged CFD trading makes them problematic from an Islamic perspective.

Spreads

Spreads are the difference between the bid sell and ask buy price of a financial instrument. Brokers make money from this difference.

• Classic Account: Spreads “From 1.6 pips.” This is a wider spread, meaning a higher cost embedded in each trade.
• RAW Account: Spreads “From 0.0 pips” on major currency pairs, but this comes with a commission.
• Tickmill Trader Account: Also offers “From 0.0 pips” spreads.

While tighter spreads lower costs are conventionally attractive, these are merely the operational costs of engaging in an impermissible activity. Philips-hue.com Reviews

Commissions

Commissions are explicit fees charged per trade or per lot.

• Classic Account: “Commission-free.” This means the broker’s profit is entirely derived from the wider spread.
• RAW Account: “Competitive commissions.” The website implies these are low but doesn’t specify an exact number on the homepage. This fee is charged for executing the trade.

These commissions, while a direct cost, are for facilitating a transaction that may involve Riba through leverage/overnight fees and is inherently speculative Gharar and Maysir. Therefore, minimizing these costs does not make the underlying activity permissible.

Other Potential Costs and how they relate to Riba

Beyond spreads and commissions, traders on such platforms may encounter other fees, some of which directly relate to Riba.

• Overnight/Swap Fees: These are charges or credits applied to positions held open overnight. They are essentially interest payments or receipts based on the interest rate differential between the two currencies in a pair, or the cost of borrowing/lending the underlying asset in CFDs. These are a direct form of Riba.
• Inactivity Fees: Some brokers charge if an account remains dormant for a period.
• Withdrawal Fees: Fees for withdrawing funds from the trading account.

The entire “pricing” model is built around facilitating leveraged speculative trading, which is inherently problematic from an Islamic perspective.

Focusing on reducing these costs doesn’t change the fundamental impermissibility of the activity itself. Vrt.ie Reviews

How to Close an Account with Tickmill.com and pivot to Halal

For those who may have opened an account with Tickmill.com or similar platforms, the most crucial step is to close the account and transition to Sharia-compliant financial activities.

While the website doesn’t explicitly detail a “cancel subscription” or “cancel free trial” process as it’s a trading account, not a subscription service, closing a live trading account typically involves a few steps.

Steps to Close a Tickmill.com Account

The general process for closing a brokerage account usually involves:

1. Withdraw All Funds: Ensure all remaining funds in your trading account are withdrawn to your bank account or other preferred method. Check for any minimum withdrawal limits or associated fees.
2. Close All Open Positions: If you have any active trades, close them. You cannot close an account with open positions.
3. Contact Customer Support: Reach out to Tickmill’s customer support, usually via email, phone, or live chat, to formally request account closure. State your intention clearly.
4. Confirm Account Closure: Ensure you receive confirmation from Tickmill that your account has been successfully closed. They may require you to fill out a form or provide additional verification.

Pivoting to Halal Financial Practices

Once the account is closed, the focus should shift entirely to Sharia-compliant financial practices.

• Re-evaluate Financial Goals: Align your financial goals with Islamic principles. Instead of speculative gains, focus on real asset growth, ethical investments, and contributing to the community.
• Educate Yourself on Halal Options: Deepen your understanding of halal investment vehicles such as:
  • Islamic Equity Funds: Funds that invest only in Sharia-compliant companies.
  • Sukuk Islamic Bonds: Asset-backed financial certificates that represent ownership in tangible assets or projects, avoiding interest.
  • Halal Real Estate Investments: Direct property ownership or Sharia-compliant REITs.
  • Murabaha, Musharakah, Mudarabah: Exploring these Islamic financing structures for business ventures or partnerships.
• Seek Halal Financial Advice: Consult with Islamic financial advisors who can guide you on creating a Sharia-compliant investment portfolio tailored to your needs.
• Practice Zakat and Sadaqah: Regularly purify your wealth by paying Zakat obligatory charity and engaging in Sadaqah voluntary charity, which are integral parts of Islamic financial ethics. This not only cleanses wealth but also promotes social welfare. Data from the global Islamic finance sector shows that Zakat contributions globally amount to billions of dollars annually, fostering economic circulation and social good.

By taking these decisive steps, one can move away from impermissible financial activities and embark on a path of ethical and Sharia-compliant wealth management. Thegpservice.co.uk Reviews

Tickmill.com vs. Competitors A Comparative Look at Impermissible Offerings

When looking at Tickmill.com in comparison to its conventional competitors, it’s essential to understand that most of these platforms operate on similar business models involving leveraged CFD trading, which makes them equally problematic from an Islamic perspective.

The differences often lie in minor variations in spreads, commissions, platform offerings, and regulatory jurisdictions.

Common Competitors in the CFD Brokerage Space

Platforms that often compete with Tickmill.com include:

• Exness: Known for high leverage up to unlimited for some accounts, tight spreads, and a wide range of instruments.
• FXTM ForexTime: Offers various account types, ECN trading, and educational resources.
• OctaFX: Popular for its social trading features and relatively low minimum deposits.
• XM: Known for its bonus programs, diverse asset offerings, and educational content.
• IG Group: A very large and highly regulated broker, offering a wide range of CFDs and spread betting.
• Plus500: Focuses primarily on CFD trading with a user-friendly proprietary platform.

Similarities in Impermissible Elements Across Competitors

Despite their differences, these competitors share the fundamental characteristics that render them impermissible in Islam:

• Leveraged Trading: All major CFD brokers offer high leverage, which inherently involves borrowing and often leads to Riba through financing charges.
• Contracts for Difference CFDs: The core product is speculative. It involves betting on price movements without actual ownership of the underlying asset, leading to Gharar and Maysir.
• Overnight Financing Riba: Virtually all CFD brokers charge or credit swap rates for positions held overnight, which is a direct form of interest Riba.
• Promoting Speculation Maysir: Their marketing and platform design often encourage frequent, short-term trading based on price speculation, aligning with gambling.
• Lack of Tangible Assets: None of these platforms facilitate the buying and selling of physical assets. they deal in derivatives.

What to Look for in Halal Alternatives Contrast with Competitors

Instead of comparing which impermissible platform is “better,” the focus should be on how to find and utilize truly halal financial services. Usabuscharter.com Reviews

• Asset Ownership: Look for investments that involve actual ownership of assets, like real estate, ethical stocks, or commodities with proper physical or constructive possession.
• Absence of Riba: Ensure there are no interest payments, whether explicit or implicit, in any transaction. This means avoiding conventional loans, credit cards, and leveraged trading accounts.
• Transparency and Certainty: Transactions should be clear, with no excessive uncertainty Gharar. All terms and conditions must be transparent.
• Risk-Sharing Mudarabah, Musharakah: Embrace investment models where profits and losses are genuinely shared, rather than zero-sum speculative games.
• Ethical Screening: Invest only in businesses and industries that comply with Islamic values, avoiding those involved in alcohol, gambling, pornography, conventional finance, etc.
• Social Responsibility: Seek investments that contribute positively to society and the environment, aligning with the broader ethical framework of Islam.

By understanding the shared impermissible nature of Tickmill.com and its conventional competitors, individuals can redirect their efforts towards a robust and growing ecosystem of Sharia-compliant financial solutions that offer ethical and permissible avenues for wealth creation and management.

Frequently Asked Questions

Is Tickmill.com a regulated broker?

Yes, Tickmill.com states it operates under various regulatory bodies, including the Financial Conduct Authority FCA in the UK, the Cyprus Securities and Exchange Commission CySEC in Europe, the Financial Services Authority FSA in Seychelles, and the Financial Sector Conduct Authority FSCA in South Africa.

What financial products does Tickmill.com offer?

Tickmill.com primarily offers Contracts for Difference CFDs on various financial instruments, including Forex currency pairs, Cryptocurrencies, Stock Indices, Individual Stocks & ETFs, Bonds, and Commodities precious metals and energies. They also offer Futures and Options under their UK entity.

Does Tickmill.com offer high leverage?

Yes, Tickmill.com offers very high leverage, with up to 1:1000 on certain Forex pairs and 1:200 on Crypto CFDs, which allows traders to control large positions with a relatively small amount of capital.

Are there commissions on Tickmill.com?

It depends on the account type. Sculpd.co.uk Reviews

The Classic Account is advertised as “commission-free” with wider spreads, while the RAW Account offers “tight spreads” and “competitive commissions.”

What trading platforms are available on Tickmill.com?

Tickmill.com supports popular trading platforms such as MetaTrader 4 MT4, MetaTrader 5 MT5, TradingView, and its proprietary mobile platform, Tickmill Trader.

Is Tickmill.com suitable for beginners?

The website indicates that trading financial products on margin carries a high degree of risk and is not suitable for all investors.

While they offer various account types and platforms, the complexity and high risk associated with CFDs and leverage mean it’s generally not recommended for inexperienced traders.

How does Tickmill.com protect client funds?

Tickmill.com states that client funds are segregated from the company’s operational funds in separate bank accounts. Flashbay.ca Reviews

Additionally, they claim “Your funds are insured! Up to $1,000,000 coverage,” referring to compensation schemes in relevant jurisdictions.

What are the minimum deposit requirements for Tickmill.com?

The minimum starting deposit for both Classic and RAW accounts is $100.

Can I trade cryptocurrencies on Tickmill.com?

Yes, Tickmill.com offers Crypto CFDs, allowing users to speculate on the price movements of various cryptocurrencies with leverage up to 1:200 and no swaps for five days.

Does Tickmill.com offer a demo account?

Yes, most online trading platforms like Tickmill.com offer demo accounts, which allow users to practice trading with virtual funds before committing real capital.

The website’s “Create Account” section implies access to demo and live accounts. Elshoppen.dk Reviews

What are the typical spreads on Tickmill.com?

Spreads vary by account type and instrument.

The Classic account has spreads from 1.6 pips, while RAW accounts can have spreads from 0.0 pips on major currency pairs, with commissions applied.

Is Tickmill.com available in all countries?

No, the website explicitly states, “It looks like you are based in the . Click proceed to be taken to .” This indicates geographical restrictions and specific entity regulations depending on the user’s location.

How quickly are trades executed on Tickmill.com?

Tickmill.com claims an “0.15 sec AVERAGE EXECUTION TIME,” indicating rapid order processing for trades.

Does Tickmill.com offer social trading or copy trading?

Yes, the website mentions “Tickmill Social Trading: Copy, get copied, earn more!”, indicating that they offer features for social and copy trading.

Are there any bonuses or promotions offered by Tickmill.com?

Yes, the website highlights promotions like the “IB Grand Prix” competition with cash prizes and offers such as “Crypto CFDs: Trade Bigger, Pay Less.”

How do I deposit and withdraw funds from Tickmill.com?

The website mentions “Deposit and Withdrawal Options” but does not detail specific methods on the homepage.

Typically, brokers offer various options like bank transfers, credit/debit cards, and e-wallets.

What languages does Tickmill.com support?

The website can be displayed in multiple languages, including English, German, Simplified Chinese, Traditional Chinese, Indonesian, Russian, Spanish, Arabic, Polish, Italian, Korean, Thai, Malay, Vietnamese, and Portuguese.

Can I trade on Tickmill.com using my mobile phone?

Yes, Tickmill.com offers its proprietary “Tickmill Trader” app for Android and iOS devices, designed for seamless mobile trading. They also support mobile versions of MT4 and MT5.

What kind of customer support does Tickmill.com offer?

While not explicitly detailed on the homepage, most regulated brokers offer customer support through various channels like live chat, email, and phone during business hours.

How long has Tickmill Group been active in Forex/CFD trading?

The website states that the figures for “Results-Driven Performance” refer to “Tickmill Group’s activity in 2024 for Forex/CFDs trading,” implying active operations throughout that period.