A milling insert suitable for shoulder milling includes a side surface extending between an upper and lower side and a cutting edge having a primary and a secondary cutting edge portion. The side surface includes an axial support surface opposite of the secondary cutting edge portion. The lower side includes a locking groove extending longitudinally, and a lower contact region formed to bear on a fastening member. The upper side has an upper contact region arranged to bear on a top support member of a tool in which the milling insert is mountable. A milling tool is provided with a top support member for bearing on the upper contact region of the milling insert, a locking ridge for locking with the locking groove, and an axial contact surface for supporting the axial support surface. A fastening member presses the milling insert against the top support member and the locking ridge.