Tickmill Broker Review - 2020 | We Compare Brokers

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Tickmill Broker Review

Review By: Alan Little Review Updated: June 16, 2020

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

Forex Stocks CFD Commodities

Spread

1

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

0.6

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

1

Max. Leverage

1:300 pro

Deposit Protection

£50,000

Min. Deposit

£100

Our Overall Rating

Rating 4
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Tickmill is a trading name of Tickmill Limited, and a member of the Tickmill Group. The broker is based in The Seychelles and is authorised and regulated by the 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 top tier banks, and negative balance protection is provided. There is access to over 80 tradeable instruments, with tight spreads and low commissions. The trading platform is the MT4, and there are over 60 forex pairs offered.

Commissions & Fees

Rating

Tickmill offers very competitive spreads, starting 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 dynamic, but current spreads are always displayed on the website. Tickmill charge a swap fee on all positions that are held open overnight. Each currency pair will have its own swap charge, and this is 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 state that they reserve the right to charge a maintenance fee on inactive accounts.

Platforms & Tools

Rating

Tickmill offers the ever-popular MT4 platform, widely recognised as a firm favourite with Forex traders worldwide. As MetaTrader users will already know, the platform offers a very intuitive and customisable interface, sophisticated features, excellent charting tools and a variety of technical indicators, to suit almost any trading strategy. As well as the usual MT4 platform, which can be installed on any device, the broker also offers a WebTrader option, allowing access to MT4 functionality, without having to download or install any software. The MT4 platform is, of course, suitable for mobile trading, on both iOS or Android devices.

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 enquires are guaranteed within 24 hours, making this a sensible option for non-urgent enquiries. More pressing matters will require a phone call. There is also a very extensive, and searchable, FAQ section on the website, and a lot of education and training 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.

Final Thoughts

Overall, Tickmill is a fairly competitive broker with a reasonable range of products and features. Spreads are tight, commissions are reasonable, and there are almost no extra ‘hidden’ fees. The MT4 is the only platform available, but since this is a popular, respected, award-winning platform, the lack of choice in this area is forgivable. The company is authorised and regulated by the FSA, and offers negative balance protection. There is a limited amount of different financial instruments on offer, and no cryptocurrency offering, but there are over 60 Forex pairs, which is more than enough for most casual Forex traders.

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