Tickmill Islamic Account offers swap-free trading on 2 trading account levels. Classic Swap-free and Raw Swap-free. Tickmill offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA
Trading Platform
MT4, MT5, Tickmill Trader
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Tickmill Islamic Account Review – 8 Key Point Quick Overview
- ☑️Islamic Account Overview
- ☑️Tickmill at a Glance
- ☑️Overnight charges
- ☑️How to open an Islamic Account
- ☑️Customers Reviews
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Islamic Account Overview
Tickmill offers an Islamic Account that is compliant with Sharia Law.
A Forex Islamic Account is also known as a swap-free account as there is no swap or rollover interest on overnight positions.
Interest in overnight positions is against the Muslim faith. Muslim clients can benefit from Tickmill’s Islamic Trading account conditions by opening any account option Classic, or Raw, and converting it to an Islamic account type.
Tickmill Islamic accounts carry the same trading conditions and terms as all regular Tickmill trading account types, with the only difference being that there are no swaps on trading instruments.
However, a handling charge applies for holding several trading instruments overnight for more than three consecutive nights.
Tickmill At a Glance
| Category | Details |
| Company Information | |
| 🏷️Company Name | Tickmill Ltd |
| 📍Headquarters Location | Seychelles |
| 📅Year Established | 2014 |
| 👤CEO/Founder | Duncan Anderson |
| 🌐Global Offices | London, Cyprus, South Africa, and more |
| 🔖Licensing Body | FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles) |
| 👥Group Companies | Tickmill UK Ltd, Tickmill Europe Ltd, Tickmill Ltd |
| 🏛️Business Model | STP/ECN |
| 🌍Operational Languages | Multilingual (English, Spanish, Chinese, Arabic, etc.) |
| 🏆Awards & Recognitions | Multiple awards for low-cost trading and excellent service, such as "Best Forex Spreads" and "Best Trading Experience." |
| Regulation and Security | |
| 🛡️Regulation | FSA, FCA, CySEC, FSCA |
| ✔️Compliance Standards | Follows international financial regulations and ethical practices |
| 💼Client Fund Segregation | Ensures client funds are kept in separate accounts |
| 🪫Negative balance protection | Available across all account types |
| 🕵️♂️Financial Conduct Oversight | Stringent oversight from global regulatory authorities |
| 💰Insurance Coverage | Limited insurance through regulatory schemes |
| 📋AML & KYC Policy | Strict adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) policies |
| 🔒Security of Trading Platform | Encrypted and secure platforms for trading |
| 🛡️Investor Compensation Fund | Covered under relevant regulatory compensation schemes |
| 🖥️Cybersecurity Measures | Advanced firewalls and regular platform updates to prevent breaches |
| Account Types and Features | |
| ⚙️Standard Account | Available with competitive spreads |
| 📊ECN Account | No |
| 🌙Islamic Account | Swap-free accounts for Muslim traders |
| 🎮Demo Account | Free and unlimited access to virtual trading |
| 👑VIP Account | Customized accounts for high-volume traders |
| 💵Minimum Deposit | USD 100 / 1812 ZAR |
| 💱Base Currencies | 4 (EUR, USD, GBP, PLN) |
| ⚖️Leverage Options | Up to 1:1000 |
| 📈Spreads (Fixed/Variable) | Variable spreads starting at 0.0 pips |
| 🔄Swap-Free Accounts | Yes |
| 🌐Account Currency Conversion | Multi-currency support |
| 🚨Margin Call Level | 100% |
| ❌Stop-Out Level | 30% |
| 🔄Hedging Allowed | Yes |
| ⚡Scalping Allowed | Yes |
| 🔁Copy Trading Support | No |
| 👥Social Trading Features | Limited |
| 💼Managed Accounts | No |
| Trading Conditions | |
| 🔍Average Spreads | From 0.0 pips (variable) |
| 💲Commissions per Trade | $2 per lot (standard account) |
| 🔢Leverage Range | 1:30 (retail), up to 1:500 (professional) |
| 🚀Execution Speed | 0.1 seconds |
| 📊Order Execution Type | Market execution |
| 🔄Slippage Policy | Occasional slippage, depending on market conditions |
| 📏Margin requirements | Starting from 0.2% (for major currencies) |
| ⏹️Stop-Loss and Take-Profit Orders | Yes |
| 🔁Trailing Stops | Yes |
| 🕑Pending Orders | Yes |
| 🔽Partial Fills | Yes |
| 🧾Dividend Adjustments | Yes |
| 🌙Overnight Swap Fees | Applicable for positions held overnight |
| 📆Rollover Policy | Affects positions held overnight |
| 🛑Guaranteed Stop Loss | Not available |
| Trading Instruments | |
| 💹Forex Currency Pairs | EUR/USD, GBP/USD, USD/JPY, AUD/USD, etc. |
| 🪙Precious Metals (Gold/Silver) | Yes, Gold and Silver |
| 📈Indices | Yes, several major global indices |
| 🌾Commodities | Yes, including agricultural products |
| ⛽Energies (Oil/Natural Gas) | Yes, including Brent Crude Oil and Natural Gas |
| ₿Cryptocurrencies | Yes, Bitcoin, Ethereum, etc. |
| 📉Stocks | Yes, CFDs on global stocks |
| 🗂️ETFs | Yes, CFDs on major ETFs |
| 🏛️Bonds | Yes, including government bonds |
| 📜Futures Contracts | Yes, offered via CFDs |
| 🛡️Options Contracts | Not available |
| ⚖️CFDs (Contracts for Difference) | Yes, offered on multiple asset classes |
| 🔣Swap on Trading Board | Yes, applies on applicable instruments |
| 🔀Leveraged Instruments | Yes, leveraged CFDs available |
| 🎯Micro-Lot Trading | Yes, |
| 💸Spread Betting | Not available |
| 🧺Currency Baskets | Not available |
| Deposits and Withdrawals | |
| 💳Deposit Methods | Bank transfer, Credit/Debit cards, E-wallets (Skrill, Neteller) |
| 💵Withdrawal Methods | Bank transfer, Credit/Debit cards, E-wallets |
| ⏱️Processing Time for Deposits | Instant (for most methods) |
| 🕒Processing Time for Withdrawals | 1-2 business days |
| 🚫Deposit Fees | No fees for deposits |
| 💵Withdrawal Fees | Free for bank transfers and e-wallets, fees for certain payment methods |
| 🔢Minimum Deposit Amount | USD 100 / 1812 ZAR |
| 📉Minimum Withdrawal Amount | $25 |
| 🚪Maximum Withdrawal Limit | No specific maximum |
| 💱Supported Currencies | USD, EUR, GBP, AUD, JPY, and others |
| ₿Crypto Deposits & Withdrawals | Yes, supported for crypto deposits and withdrawals |
| 🏦Bank Wire Transfers | Yes |
| 💳Credit/Debit Cards | Yes |
| 📲E-Wallets (Skrill, Neteller, etc.) | Yes |
| 🏘️Local Payment Methods | Yes |
| Trading Platforms and Tools | |
| 💻MetaTrader 4 (MT4) | Yes |
| 👩💻MetaTrader 5 (MT5) | Yes |
| 🖥️Proprietary Platform | No proprietary platform available |
| 📱Mobile Trading App | Yes, available for iOS and Android |
| 🌐Web-Based Platform | Yes, accessible via web browser |
| 🤖Trading Bots | Yes, supported with API connectivity |
| 🖧VPS Services | Yes, available for clients with sufficient funds |
| 🔌API Connectivity | Yes, supported |
| 📉Charting Tools | Advanced charting tools in MT4/MT5 |
| 🧮Custom Indicators | Yes, supported in MT4/MT5 |
| 🧠Market Sentiment Analysis | Available via third-party tools |
| 📩Trading Signals | Yes, available via third-party services |
| 🏷️Advanced Order Types | Yes, all common order types supported |
| ⚠️Risk Management Tools | Stop-loss, trailing stops, margin call alerts |
| 📅Economic Calendar | Yes, |
| 📰Market News Feed | Yes, |
| Customer Support | |
| 📞Support Channels | Email, Live chat, Phone |
| 🗨️Live Chat Availability | Yes, 24/7 |
| 📧Email Support | Yes |
| 📱Phone Support | Yes |
| 🌍Multilingual Support | Yes |
| ❓Help Center/FAQ | Yes |
| 👨💼Dedicated Account Manager | Yes, for VIP clients |
| ⏲️Response Time (Live Chat) | Within 1-2 minutes |
| 🕒Response Time (Email) | Typically within 24 hours |
| ⭐Support Rating | 4.5/5 based on user feedback |
| Educational Resources and Support | |
| 🎥Webinars | Yes |
| 🏫Seminars | Yes |
| 📖Trading Tutorials | Yes |
| 📊Market Analysis Reports | Yes |
| 📚E-Books | Yes |
| 🎬Video Library | Yes |
| 📜Glossary | Yes |
| ❔FAQs | Yes |
| 🆕Beginner Guides | Yes |
| 🚀Advanced Trading Strategies | Yes |
| Partnerships and Programs | |
| 📋IB Program | Yes |
| 🪪Affiliate program? | Yes |
| 🏷️White Label Solutions | Yes |
| 🎁Partnership Rewards | Yes |
| 🏛️Institutional Solutions | Yes |
| 🔌API Partnership | Yes |
| 🤝Referral Program | Yes |
| Fees & Charges | |
| 💳Deposit Fees | Free for most deposit methods |
| 📤Withdrawal Fees | Free for bank transfers and e-wallets |
| 💤Inactivity Fee | Yes, after 12 months of inactivity |
| 🌜Overnight Fees (Swaps) | Yes, based on overnight position |
| 💱Conversion Fees | Yes, for certain currency exchanges |
| Market Research Tools | |
| 📅Economic Calendar | Yes |
| 📰Market News | Yes, integrated into platform |
| 📩Trading Signals | Yes, provided from third-party services |
| 🔧Technical Analysis Tools | Yes, in MT4/MT5 |
| 💭Sentiment Analysis | Available through third-party tools |
| Additional Features | |
| 👥PAMM/MAM Accounts | Yes |
| 🔗Social Trading Platform | Yes |
| 🏆Trading Competitions | Yes |
| 🎁Loyalty Rewards | Yes |
| 👑Exclusive VIP Perks | Yes |
| Promotions & Bonuses | |
| 🎁Welcome Bonus | Yes |
| 💵Deposit Bonus | Yes |
| 🏅Trading Contests | Yes |
| 🌟Seasonal Promotions | Yes |
| 🎖️Loyalty Programs | Yes |
| User Experience & Reviews | |
| 🖥️User Interface Quality | Highly rated for simplicity and functionality |
| 🔒Platform Stability | Very stable, with minimal downtime |
| 📱Mobile App Reviews | 4.5/5 rating on app stores |
| ⭐Overall User Rating | 4.6/5 based on user feedback |
| 🌟Trustpilot Rating | 4.4/5 on Trustpilot |
| 😟Common Complaints | Slippage during volatile conditions, limited advanced charting tools on mobile, customer service response times in high demand periods |
| Mobile | |
| 📱Mobile App Name | Tickmill Trading App |
| 🛠️Developer | Tickmill Ltd |
| 📅Release Year | 2016 |
| 💻OS Compatibility | iOS, Android |
| 🌐Languages Supported | English, German, French, Spanish, Italian, and others |
| 📈Trading Instruments | Forex, Commodities, Indices, Cryptocurrencies, Stocks, ETFs, Futures |
| 🔄Real-Time Data | Yes, real-time pricing and market data available |
| 🛠️Charting Tools | Basic charting features, advanced available on desktop version |
| 📊Order Types Supported | Market, Limit, Stop, OCO, Trailing Stop, Pending Orders |
| 🚀Order Execution Speed | 0.1 seconds |
| 🔔Custom Alerts | Yes, available for price levels and indicators |
| 🤝Beginner-Friendly | Yes, intuitive design but may require a learning curve for advanced features |
| 🔐Security Features | Two-factor authentication, SSL encryption, and secure socket layers |
| 🖥️Synchronization | Yes, syncs seamlessly between desktop and mobile apps |
| 💰Deposit and Withdrawal | Bank transfer, Skrill, Neteller, Credit/Debit cards, Cryptocurrency |
| 📝Account Types Accessible | Standard, Raw Islamic accounts |
| 🔄Switch Accounts | Yes, users can switch between accounts directly in the app |
| 💬In-App Support | Live chat, email support |
| 📚Educational Resources | Video tutorials, FAQs, webinars, articles, economic calendar |
| 🎯Watchlist | Yes, allows users to track selected instruments |
| 🌙Dark Mode | Yes, available for better night-time trading experience |
| 🌐Social Trading | No integrated social trading platform within the app |
| AI Trading Resources | |
| 🤖AI Integration | No dedicated AI-based tools integrated within the mobile app |
| 📊Data Analysis | Basic analysis features, more advanced available on desktop platform |
| 📈Predictive Analytics | No direct predictive analytics tools available in the mobile app |
| 🛠️Customizable Strategies | Not available in mobile, available via desktop for advanced users |
| 📉Risk Management Tools | Stop Loss, Take Profit, Trailing Stops, Margin Alerts |
| 🧑🏫Trading Insights | Yes, basic market analysis available |
| 🚀Execution Optimization | Yes, fast and reliable execution |
| 🔄Portfolio Rebalancing | Not available on mobile, can be done through desktop platform |
| 📚AI Tutorials | Not applicable |
| 🎥Video Demonstrations | Yes, available on the Tickmill website and YouTube channel |
| 🧑🤝🧑Webinars | Yes, regular webinars available |
| 🔍AI-Powered Search | Not available |
| 🌟Beginner-Friendly | Yes, for basic trading, although more advanced features require desktop app |
| 🖥️Platform Availability | Desktop, Web, Mobile |
| 📈Backtesting Capability | Available through desktop platform, not on mobile app |
| 🛠️Strategy Builder | Not available in the mobile app |
| 🔔Alerts and Notifications | Yes |
| 🔒Data Protection | End-to-end encryption, two-factor authentication |
| 👁️🗨️Transparency | High level of transparency regarding pricing, execution speed, and fees |
| Social Media Platformst | |
| Yes | |
| Yes | |
| Yes | |
| Yes | |
| 🎥YouTube | Yes |
| 👉Open Account | 👉 Open Account |
Overnight Charges
When a position is held open for more than three consecutive trading days (including weekends), an Islamic account is subject to daily charges.
Example of Islamic Account Overnight Charges
If a position on, for example, the EURCZK currency pair is opened on Day, no fees will apply for the first three nights following the opening of a position. Daily charges will only start on the fourth night at 00:00 and continue every night until the position is closed.
| 🔎 Account | Tickmill Islamic Account |
| 💵 Available base currencies | USD, EUR, GBP, ZAR |
| 🔃 Execution model | NDD |
| 🔁 Execution type | Market Execution |
| 🔀 Execution Speed | 0.20 seconds |
| ⛔️ Margin Call / Stop-out | 100% / 30% |
| 🚀 Open an Account | Open Account |
- The above-mentioned charges are in USD but will automatically be converted to the account’s base currency if this is different.
How to open an Islamic account Step by-step
To open an Islamic account with Tickmill, South Africans can follow these steps:
Step 1: Start by going to the Tickmill Website
Find the “Open an Account” link, which is usually located on the front page.
Step 2: Select Account Types
Choose your preferred account type.
Step 3: Fill in Personal Details
When you click on it, you will be taken to a new page where you must enter your personal information. This information includes your full name and date of birth.
Step 4: Personal Details
You will be prompted for more information regarding your Country, select a product and click on Privacy Policy.
Step 5: Fill in your details
Fill in your phone number and email address.
Step 6: Verify your email
Go click on the email verification you received in your email.
Step 7 – Clients will be required to provide proof of identity.
The identification and address verification process, a common regulatory requirement to stop fraud and money laundering, will then be guided.
You must upload copies of your identification—like a driver’s license or passport—and a current utility bill or bank statement with your complete name and address in plain sight.
After Tickmill correctly validates your documents, your account will be activated, enabling you to fund it and begin trading.
Once all steps have been successfully completed, Request an Islamic account status from Tickmill’s Client Support team
Wait for an email confirmation that the status has been set up.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA
Trading Platform
MT4, MT5, Tickmill Trader
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Customer Reviews
🥇 Excellent!
Since its days as Armada in 2014, Tickmill has been my preferred broker. This is because they offer incredibly low spreads, execute trades at lightning speed, and provide highly responsive customer service—making it obvious why I choose them above others. – Emily Van Der Merwe
🥈 Top Choice.
Depositing funds with Tickmill is simple and quick. Moreover, you may open an account with your business license, making it suitable for people who want to trade utilizing their company’s resources. However, it is worth noting that gold spreads can be pretty high sometimes, which may result in pending orders not being triggered. – Joshua Van Zyl
🥉 Incredible.
My time with Tickmill has been incredible, and I wholeheartedly endorse them. With two years of trading under my belt, I can confidently say that their systems, customer support, and connectivity have never failed me once. They could only improve by expanding the list of global banks supported for transactions. – Sophia Pretorius
Pros and Cons
| ✅Pros | ❌Cons |
| Low spreads for active traders | Limited asset selection |
| Multi-jurisdiction regulation | No cryptocurrencies |
| Excellent education and research data | No US clients |
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Conclusion
Tickmill has an asset in the form of Islamic accounts that are coveted by investors who prefer investing in the commodity sector by Sharia law.
As such, they do cut out the intermediation service, and this implies they do not have to incur swap fees, which are daily interest expenses.
Consequently, all stock trades are charged a fee to cover serving investors whose shares have extended the usual 3-day holding period.
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Frequently Asked Questions
Can Muslim traders from South Africa open a Tickmill Islamic account?
Yes, South African Muslim traders can open a Tickmill Islamic account
What is a Tickmill Islamic trading account?
A Tickmill Islamic trading account is based on Islamic principle/Sharia law, which states that interest does not apply to positions held open for longer than a single trading day.
Is the Islamic option available on all the Tickmill account types?
Yes, any of the Tickmill account types can be converted to an Islamic account
What charges are applied by Tickmill on Islamic accounts?
Should an open position be held for more than three consecutive trading days (including weekends), your Tickmill Islamic account will be subject to daily charges.
What are the deposit currencies for a Tickmill Islamic trading account?
The deposit currencies for a Tickmill Islamic trading account are USD, EUR, GBP, and PLN.
