Tickmill is a forex and CFD broker that offers trading services globally. It was founded in 2014 and the company became a very popular choice. The most appealing features are its low-cost commission-based account, fast account opening, and competitive trading conditions.
Tickmill was established by brothers Ingmar and Illimar Mattus, entrepreneurs with extensive experience in the forex industry. The Tickmill brand is regulated in the U.K., Cyprus, South Africa, Seychelles, and Labuan in Malaysia. Tickmill Group has 327,000 users and 250 employees.
- Low fees: Low forex fees compared to other brokers, making it an attractive option for traders
- Regulation: Tickmill is regulated by financial authorities: FCA, CySEC, and FSCA
- Fast execution: Fast execution times at 0.20 seconds on average. This is with no requotes, which is reducing the risk of slippage
- Social copy trading platform: Tickmill offers a social copy trading platform. This allows you to copy the trades of other successful traders
- Islamic account: Tickmill offers an Islamic account that is swap-free and with no interest. It is compliant with Sharia law
- Limited research and educational resources: Tickmill’s research and educational resources are comparatively limited
- Limited customer support: Tickmill’s customer support is available only via email and live chat
Is Tickmill Legit
The broker is regulated by authorities such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Seychelles Financial Services Authority (FSA) in the Seychelles.
Tickmill has a clean regulatory track record. There are no reported major incidents or fines. They don’t function as a bank. This online broker prioritizes the safety of clients’ funds. They do this by using segregated accounts.
Tickmill is making sure that your funds are separate from your trading funds. They also provide you with a negative balance protection. This means they are preventing you from losing money from your trading account balance.
Account Types
Tickmill provides 5 different account types (Pro, Classic, VIP, Islamic and demo account). The 3 most popular account types are listed here:
- Pro Account: The Pro Account is perfect for you if you are an experienced trader. Especially if you want to trade with low spreads and commissions. Pro account has a minimum deposit of $100. The Pro Account offers access to Tickmill’s VPS service, which allows you to run EAs without issues.
- Classic Account: The Classic Account is good if you want to start trading with a small deposit. Minimum deposit is $100. The Classic Account also offers access to Tickmill’s Autochartist tool and other trading tools.
- VIP Account: The VIP Account is designed for big investors (whales) and institutional clients. Account requires a minimum deposit of $50,000. The VIP Account also offers access to a personal account manager, priority customer support, and other exclusive features.
Market Instruments
Tickmill provides 725 tradable items, including CFDs on currency pairs, indices, metals, bonds, and cryptocurrencies. Around 109 symbols for futures and options trading are available through a dedicated account. The maximum leverage for forex trading is higher than the industry average. This makes Tickmill a good choice for traders who want to trade with higher leverage.
| Asset Class | Details |
|---|---|
| Forex | Tickmill offers forex currency pairs trading: major, minor, and exotic pairs. The spreads for forex trading are low, starting from 0.0 pips for some major pairs. The maximum leverage for forex trading is 1:500. Traders on Tickmill can use the MetaTrader 4 or MetaTrader 5 platforms. |
| Indices | Tickmill offers trading in global stock indices: US30, UK100, GER30, and JPN225. The spreads for trading indices start from 0.1 pips. Traders can use the MetaTrader 4 or MetaTrader 5. |
| Commodities | Traders can trade commodities on Tickmill. This includes precious metals like gold and silver, as well as energy products like oil and natural gas. The spreads for trading commodities start from 0.0 pips for some products. Traders can use the MetaTrader 4 or MetaTrader 5. |
| Stocks & Bonds | Tickmill offers trading in global stocks and bonds. The spreads for trading stocks and bonds start from 0.1 pips. Traders can use the MetaTrader 4 or MetaTrader 5 platforms to trade stocks and bonds. |
| Cryptocurrencies | Tickmill also offers trading in cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. The spreads for trading cryptocurrencies are 0.0 pips for some products. Traders can use the MetaTrader 4 or MetaTrader 5 platforms. |
Fees and Spreads
Tickmill offers 3 main accounts: Classic, Pro, and VIP. Check fees and spreads for each.
| Account Type | Details |
|---|---|
| Classic Accounts Fees | The Classic account is entirely commission-free – traders only pay the bid/ask spread. However, average spreads for the Classic account are much higher(at 1.76 pips as of August 2023) than Tickmill’s other two account types. |
| Classic Account Spreads | Spreads starting from 1.6 pips with no commissions. The average spread for the Classic account is reported to be around 1.76 pips as of August 2023. |
| Pro Account Fees | The Pro and VIP accounts both have a per-trade commission, which is then added to lower prevailing spreads. With its low commission rate, low-cost spreads, and offering of 75 instruments and 62 currency pairs, the Pro account will be ideal for most traders. |
| Pro Account Spreads | Provides ultra-low spreads from 0.0 pips and competitive commissions, making it ideal for experienced traders. The minimum deposit for this account type is $100, and it supports various base currencies. |
| VIP Account Fees | A VIP account needs to have a minimum balance of $50,000. You can gain access to its low commission of $1 per standard lot (100,000 units) or $2 per Round-Turn (RT). The Pro account features the same underlying spread and is available with just a $100 deposit, but commissions are twice as high at $4 per round-turn standard lot. |
| VIP Account Spreads | Designed for high-volume trading, this account type also offers ultra-low spreads starting from 0.27 pips after commission. It requires a minimum balance of $50,000 and supports multiple base currencies. |
Mobile Trading Platform
Tickmill is primarily a MetaTrader broker, with iOS and Android versions of the MT4 and MT5 app available for download from the Apple App Store and Android Play Store.
Mobile trading apps available at Tickmill include speciality trading platforms for futures and options, such as CQG and AgenaTrader. It’s worth mentioning that Tickmill has launched a proprietary mobile app strictly for account management purposes (no trading). You can check the Tickmill app here.
Tickmill Trading Tools
Other add-ons are available from FX Blue as part of the Advanced Trading toolkit package, and Tickmill has also included Autochartist integration. VPS hosting – a useful tool for algorithmic traders – is also available at Tickmill. Last but not least, Tickmill offers an API with connectivity to additional 3rd-party trading platforms.
Tickmill Market Research Tools
While Tickmill really has good market research tools and consistently has new offers, it has some serious competition from industry leaders such as IG and Saxo Bank. These guys have the depth, personalization, and overall quality of its research resources and tools.
Research Overview
Tickmill provides daily articles covering technical and fundamental analysis on its Expert Blog, along with video updates on its YouTube channel. The broker’s third-party research tools include: the Autochartist plugin for automated technical analysis, forex news headlines streaming from Investing.com, and an economic calendar powered by Myfxbook. Tickmill also has a strong presence on social media platforms, with dedicated groups on Facebook and Telegram.
Market News and Analysis
Tickmill has a comprehensive market coverage and a range of research content.
This includes: technical analysis articles on the Weekly Live Markets & Trade Analysis series focusing on market fundamentals, webinars, technical and fundamental analysis videos, and daily one-minute updates called the Chart Hits series on their YouTube page.
Tickmill provides interactive sentiment data from the CME, integrated widgets with sentiment data, and trading signals through the Signal Centre, powered by Acuity Trading.
Copy Trading
In addition to the Signals market available in MetaTrader, Tickmill supports two platforms for social copy-trading : Pelican Trading and the AutoTrade feature of Myfxbook. It’s important to note that these services are not accessible from the firm’s U.K. and EU branches.
Tickmill Educational Content
Tickmill’s educational content grants access to a large catalog of archived webinars, but Tickmill lacks a variety of educational articles. They mostly focus on Webinars, and ebooks as well as their New eBook releases.
- Learning center: Highlights include live educational courses, a handful of comprehensive eBooks, market insights. infographics, and weekly webinars that are hosted in various languages and archived on YouTube. There are also educational resources for learning about futures, powered by the CME available on Tickmill’s website.
- Room for improvement: Tickmill continues to expand its educational offering, in both its scope of material and variety of formats. For instance, its recently introduced Masterclass series, available on YouTube channel, features hour-long sessions that cover topics of interest for beginners and advanced traders. But written articles are still not good enough and not very informative.
Customer Service Overview
Tickmill offers a comprehensive customer support service to assist its clients. The support is available 24/5 and is multilingual. Clients can contact Tickmill through various channels, including live chat and email.
Live chat is available from Monday to Friday from 00:00 to 00:00 GMT Daylight Saving Time, and client support representatives are available from Monday to Friday, 07:00 – 20:00 GMT Daylight Saving Time.
Tickmill Deposit and Withdrawals
Tickmill offers secure, instant, and easy-to-use options for both deposits and withdrawals.
Deposit Methods
Clients can choose from various payment methods, including bank transfer, credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal, as well as cryptocurrencies like BTC, ETH, and USDT. Additionally, Tickmill covers transaction fees up to 100 USD or equivalent, providing a cost-effective solution for clients’ financial transactions.
Withdrawal Methods and Payout Times
When it comes to withdrawal times, all withdrawals are processed within one business day, ensuring efficient and timely access to funds. The availability of multiple payment options and the swift processing of withdrawals reflects Tickmill’s commitment to providing convenient and client-centric financial services.
Tickmill Online User Reviews and Ratings
Based on the available TrustPilot reviews, Tickmill mostly has positive ratings, with a current score of 4.7 stars over a total of 613 reviews. The breakdown of user ratings is as follows:
- 73% of users award the platform 5 stars, mentioning the quality of customer support, ease of use, and low trading fees.
- 12% of users give 4 stars, users like the variety of tradable assets and the overall trading experience.
- 7% of users rate Tickmill with 3 stars, users have neutral opinions.
- 3% of users rate the platform with 2 stars, highlighting issues related to account verification and platform stability.
- 5% of users give negative reviews of only 1 star, mentioning challenges with withdrawals and occasional trade execution delays.
How to Register in 3 Easy Steps
- Click on ‘Create account’. Enter your personal details and check your email for verification.
- Submit your Proof of Identity and Proof of Address to complete registration.
- Open a trading account, deposit to your Tickmill wallet, transfer funds from your Tickmill wallet to your live trading account and download the trading platform of your choice to start trading.
Author Opinion on Tickmill
Tickmill is best for active and VIP traders, who have access to pricing that competes among the lowest-cost brokers in the industry.
Tickmill is a reputable and client-focused brokerage, offering a range of trading instruments, secure and efficient payment options. It has a strong focus on customer support and satisfaction. With a highly positive TrustPilot rating of 4.7 stars based on 613 reviews, the platform mostly gets praised for its low trading fees and responsive customer service.
The swift withdrawal process is also one of the things I liked here. But, the overall collective evidence of positive feedback positions Tickmill as a good choice for anyone looking for a reliable broker.
Frequently Asked Questions
Can I trust Tickmill?
Yes. Tickmill is a reputable brokerage with a strong track record and positive user reviews, as evidenced by its 4.7-star TrustPilot rating. The platform’s commitment to client security, efficient payment processing, and responsive customer support contributes to its trustworthiness.
What is the minimum deposit at Tickmill?
$100. The minimum deposit at Tickmill varies by account type and ranges from $100 to $25,000, depending on the specific trading account chosen.
How long is Tickmill withdrawal?
24h. Tickmill processes all withdrawals within one business day, ensuring swift access to funds for its clients.
Depends on preferences. Determining the “best” broker depends on individual trading preferences and requirements. Some brokers that are often compared to Tickmill include Pepperstone, IC Markets, and XM.
How much commission does Tickmill take?
Depends on account type. Tickmill applies competitive commission rates, which vary based on the specific account type and trading instrument.Check more details in the content above.
Sources:
Unbelievable
Tickmill is an overall fantastic broker