Title

Tickmill Broker Review

Review By: Alan LittleReview Updated: 2021-02-22

Address: Tickmill Ltd 3, F28-F29 Eden Plaza, Eden Island, Mahe, Seychelles

forexstockscfdcryptosoc_tradcommodities

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Spread

0.0

Max. Leverage

1:500

Deposit Protection

Segregated Accounts

Min. Deposit

$100 USD or equivalent

Our Overall Rating

Rating4
Introduction

The trading experience at Tickmill is high-grade. Execution is super-fast, cost-effective, and supported by a range of third-party add-ons which help traders identify trade entry and exit points.

The total number of markets on offer is less than on some other platforms, but the range of asset groups is wide enough and extends to bonds and cryptocurrencies. Fans of the MetaTrader suite of platforms will find both MT4 and MT5 are available, and Tickmill has set out to make the most of both of those dashboards.

Whether you’re trading their algorithmic models or looking to copy the ideas of others, Tickmill offers a way to get exposure to the markets. An additional nice-to-have feature is that the broker doesn’t apply any restrictions on what kind of strategies are applied. Hedging and Scalping are both possible and aided by the broker’s use of VPS systems.

The firm offers global coverage and, as a result, is regulated by different authorities in different regions. Tier-1 regulators that monitor the firm include the FCA and CySEC.

Tickmill is the trading name of Tickmill Limited and it is a member of the Tickmill Group of companies. The broker is based in Seychelles and is authorised and regulated by Seychelles Financial Services Authority (FSA). The Tickmill Group serves over 80,000 clients worldwide, with over 200,000 registered accounts, and has executed more than 130 million trades. Client funds are kept in segregated accounts with recognised banks, and negative balance protection is provided.

Commissions & Fees

Rating

Tickmill has a strong reputation in the trading community for providing reliable and cost-effective trading. Its aggressive approach to pricing puts it in a strong position compared to its rivals, and the firm has followed that up by making it very easy to understand how costs work out. This level of transparency is a hallmark of firms that are confident about their position in the market and it makes it easier for clients to establish the risk-return on trades.

Spreads in the Pro Account start from 0.0 pips, with a typical spread on, for example, the AUD/USD of 0.4 pips. Where commission charges apply, they tend to be low in comparison with competitors. Spreads are variable, so they fluctuate according to market conditions displayed on the firm’s website. Tickmill charges a swap fee on all positions that are held open overnight. Each currency pair will have its swap charge, measured on a standard size of 1 lot. There are no deposit and withdrawal fees, and indeed the firm has almost no extra or ‘hidden’ fees beyond the stated trading fees, though they do say that they reserve the right to charge a maintenance fee on inactive accounts.

Platforms & Tools

Rating

Tickmill offers the ever-popular MT4 and MT5 platforms. MT4 is the world’s most popular retail forex platform, and MT5 opens the door to trading some other asset groups. As MetaTrader users already know, the platforms offer a very intuitive and customisable interface, sophisticated features, excellent charting tools, and various technical indicators to suit almost any trading strategy. The platforms are available as downloadable and in the App format, which can be used on desktop and handheld devices. The ultimate backup is the WebTrader option which allows access to the market via any internet browser.
MT4 and MT5 provide access to over 31 charting tools as default, and a whole load more can be added to the platform, many for no charge.

Markets

The MetaTrader platforms established their reputation in the forex markets. They are still the go-to platform for forex specialists, and Tickmill offers more than 60 currency pairs. Major, Minor and Exotic forex markets are covered.Tickmill has got the most out of the MT platforms in terms of other asset groups. Stock indices, commodities, bonds and crypto are all available to trade, and single stock markets are in the pipeline.

  • The forex offerings include over 60 currency pairs consisting of all Majors, Minors and a range of exotics pairs.
  • The 16 stock indices include UK 100, US 100, France 40, Italy 40 ad DE 30
  • Energy products include the WTI and Brent, while precious metals include gold and silver.
  • Tickmill also offers German bonds at competitive spreads and with zero commissions.
  • Demonstrating the innovative nature of the firm Tickmill has recently introduced crypto markets to its platform. Bitcoin, Ethereum and Litecoin can all be traded from the same account as other markets. There’s no need to set up special accounts or worry about wallets.


Tickmill doesn’t have the largest number of total markets, but there is more than enough for most traders and those who try the Tickmill trading experience will be signing up for quality rather than quantity.

Tickmill is a global broker with different entities of the firm operating under licence from various regulators.

  • Tickmill UK Ltd is regulated by the Financial Conduct Authority (Registered Office: 3rd Floor, 27 – 32 Old Jewry, London EC2R 8DQ, England).
  • Tickmill Europe Ltd, regulated by the Cyprus Securities and Exchange Commission (Registered Office: Kedron 9, Mesa Geitonia, 4004 Limassol, Cyprus).
  • Tickmill South Africa (Pty) Ltd, FSP 49464, regulated by the Financial Sector Conduct Authority (FSCA) (Registered Office: The Colosseum, 1st floor, Century Way, Office 10, Century City, 7441, Cape Town).
  • Tickmill Ltd, Address: 3, F28-F29 Eden Plaza, Eden Island, Mahe, Seychelles regulated by the Financial Services Authority of Seychelles and its 100% owned subsidiary Procard Global Ltd, UK registration number 09369927 (Registered Office: 3rd Floor, 27 – 32 Old Jewry, London EC2R 8DQ, England).
  • Tickmill Asia Ltd – regulated by the Financial Services Authority of Labuan Malaysia (License Number: MB/18/0028 and Registered Office: Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca-Ranca, 87000 FT Labuan, Malaysia).
  • Tickmill is also supervised by BaFin in Germany, CONSOB in Italy, ACPR in France and CNMV in Spain. BaFin is also known as the Federal Financial Supervisory Authority and is the leading financial regulator in Germany. CONSOB, ACPR and CNMV are also government bodies responsible for regulating financial and securities markets in their countries.

Clients from some domiciles may be able to access Tickmill bonus plans, which are updated regularly. They include a $30 Welcome Account and Trader of The Month competitions.

There are three different Tickmill account types, Pro, Classic and VIP. All offer leverage up to 1:500 and can be set to Swap-Free Islamic trading terms and conditions. Base currency options include USD, EUR and GBP.

The minimum deposit requirement of $100 makes it ideal for those just starting trading. High-volume and experienced traders with a minimum balance of $50,000 are registered under the VIP account and enjoy institution-grade trading conditions.

Customer Service

Rating

Customer support is available Monday to Friday, from 7:00 to 20:00 GMT/BST and can be easily accessed by phone or email or by completing a form on the website. Responses to email and contact form enquiries are guaranteed within 24 hours, making this a sensible option for non-urgent queries. More pressing matters will require a phone call.

There is also a very extensive and searchable FAQ section on the website, plus education and training material available for clients, such as video tutorials, webinars, and articles. The FAQ page and educational section are excellent resources if you have general questions about any aspect of trading.
The absence of around the clock support may be an issue for some. Still, the support is more about quality rather than quantity, and the MetaTrader platforms are particularly robust, having been tested to destruction by millions of traders over many years.

Research

Rating

There is a lot of additional research available to Tickmill clients, and all of it is focused on identifying trade entry and exit points and improving trading performance.The complete list of bolt-on trading tools is something of a wish list for those looking for direct support with trading. Tickmill clients can access, Myfxbook, Autochartist, Expert Advisors, Pelican Trading, forex calculators and an Advanced Trading Toolkit. Whether your desired strategy is based on copy trading, social trading or developing your own algorithms Tickmill have something to assist you.
More general research tools are also available. The broker offers webinars, seminars, eBooks, video tutorials, infographics, news articles and market insight reports. The resources are tailored to traders of all abilities, so they cater for beginner as well as advanced traders.

Ease of Use

Rating

The MetaTrader trading dashboards are a combination of easy user-functionality and powerful trading software. They have been in use for many years, which has allowed any glitches to be resolved and resulted in the finished product being just what traders need to access the markets.

It is a third-party platform, so registering with Tickmill is done in two stages. First with the broker, and then using that profile, with MetaTrader. This adds a small amount of time to the onboarding process.

The trading platforms can be hooked up to a variety of third-party packages. These complementary services include Expert Advisors, Autochartist, Pelican Trading and Myfxbook and the process of drawing on these nice-to-have features is seamless.
Onboarding and payment processes procedures are in line with industry standards and reflect that the broker is regulated.

Mobile Trading

Rating

The MT4 and MT5 platforms can be downloaded to Android and iOS devices. The Apps carry over a lot, if not quite all, of the functionality of the desktop versions of the platform; however, considering the abundance of tools and indicators found in the MetaTrader suite getting so many into handheld devices is to be welcomed.

The charting tools keep their surgical feel with the crisp aesthetics of MetaTrader platforms working well on a smaller screen.

Regulatory details

High Risk Warning: Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite. It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk.

Regulators:
FCA
CySEC
FSA
LFSA
FSCA

Final Thoughts

Most of Tickmill’s clients have traditionally been drawn to the platform by the super-fast trading speeds and tight spreads as low as zero. The broker used those to make its name, but it has also recently built up its offering in terms of other services. It’s added MT5, a range of third-party signal providers, and beefed up its regulatory framework.

Pricing remains a key selling point, and the T&Cs are laid out in an impressively transparent way. Commissions are reasonable, and there are almost no extra ‘hidden’ fees.

The broker gets the most out of the MetaTrader platforms, and the additional third-party indicators and VPS options take trading towards institution-grade levels. Bonds and crypto are available, and the broker states it will be opening up single stock equity markets “soon”—the breadth of the range of assets making up for the relatively small number of markets.


Before you go…. have you spotted any data in our Tickmill review which you think is inaccurate? If so please tell us 

FAQ

Welcome to the We Compare Brokers Tickmill review. All platforms from customer care teams to the trades, have been robustly tested.

Can I open a demo account with Tickmill?

Yes, Tickmill offers virtual accounts on both its platforms. That way, new clients can establish which one is the best fit by practising trading using virtual funds. Demo accounts take hardly any time to set up, and the Tickmill registration page can be found by clicking on the blue button on the left.

How do I fund my Tickmill account?

There are various deposit options available. Credit cards, debit cards and bank wire are popular, with the first two of those options being associated with the near-instant transfer of funds. Increasing in popularity is the use of e-wallet transfers. All deposits are free from broker levied fees but check if your bank or card provider charges. Tickmill also states that it does not charge clients on cash withdrawals. That is not the case with some other brokers.

Tickmill accepts deposits through bank transfer, Visa, Mastercard, Neteller, FasaPay, China Union Pay, ZotaPay, Nganluong, Qiwi and GlobePay.

Is Tickmill safe to trade with?

Yes, Tickmill is a fully regulated broker, and it is safe to trade with them. CFDs are complex instruments, and all markets carry inherent risk, but the broker itself is safe, fully licensed and authorised. Exact terms and conditions relating to cover are determined by domicile.

Welcome to the We Compare Brokers Tickmill review. All platforms, from customer care teams to the trades, have been robustly tested.

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