Tickmill is a renowned online trading platform that has garnered attention from traders worldwide.
As a multi-asset broker, it offers a vast range of financial instruments, including forex, indices, commodities, and shares.
The platform boasts a user-friendly interface and advanced trading tools, catering to both beginners and experienced traders.
Established in 2014, Tickmill operates under the regulation of several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and Seychelles’ Financial Services Authority (FSA).
These regulatory bodies ensure that traders’ funds and personal information are secure while providing customers with transparency and accountability.
In this Tickmill review, we will examine key aspects of the platform, such as trading account types, fees, and customer support, to provide a comprehensive analysis of this popular online broker.
This article aims to equip readers with the necessary knowledge to make informed decisions about entering the world of online trading with Tickmill.
Regulation and Safety
Tickmill operates under the strict regulatory framework set forth by various regulatory authorities to ensure the safety and security of its clients.
The company is authorized and regulated by the following entities:
- UK: Tickmill is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, with license number 717270.
- Seychelles: The company is regulated by the Seychelles Financial Services Authority (FSA) under license number SD008.
- South Africa: In South Africa, Tickmill is authorized and regulated by the Financial Sector Conduct Authority (FSCA) with license number 49464.
These regulatory frameworks ensure that Tickmill complies with all necessary requirements to maintain a secure trading environment for its clients.
Awards and Recognition
Tickmill has consistently been acknowledged for its excellence in the financial sector.
Some of the notable awards and recognition the company has received over the years include:
| Year | Award | By |
|---|---|---|
| 2021 | Best Forex Education Provider | Global Brands Magazine |
| 2020 | Best Trading Experience | Forex Brokers Award |
| 2019 | Most Transparent Broker | Forex Community Vote Awards |
Account Types
Classic Account
The Classic Account is tailored toward beginners and casual traders.
This account type features:
- No commissions
- Spreads starting from 1.6 pips
- Minimum deposit: $100
- A range of base currencies: USD, EUR, GBP, and more
Pro Account
The Pro Account targets more experienced traders, delivering tighter spreads and lower trading costs. Key features include:
- Commissions: $2 per round lot (100,000 units)
- Spreads starting from 0.0 pips
- Minimum deposit: $100
- A range of base currencies: USD, EUR, GBP, and more
VIP Account
The VIP Account is designed for high-volume traders looking to maximize their returns. This exclusive account type offers:
- Lower commissions: $1 per round lot (100,000 units)
- Spreads starting from 0.0 pips
- Minimum deposit: $50,000
- A range of base currencies: USD, EUR, GBP, and more
Islamic Account
Tickmill offers an Islamic Account option for those adhering to Sharia law. These accounts are swap-free and available on both the Classic and Pro Account types by request.
Demo Account
For traders who wish to practice and test their trading strategies, Tickmill provides a Demo Account. This account type allows:
- Virtual trading environment with no risk
- Access to real-time market prices
- Unlimited time and virtual funds
- Simulated trading on Classic, Pro, or VIP Account conditions
Trading Platforms
Tickmill offers a variety of trading platforms to suit different traders’ preferences and requirements.
In this section, we will discuss the primary trading platforms provided by Tickmill: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the MetaTrader WebTrader platform.
MetaTrader 4
MetaTrader 4 (MT4) is one of the most popular trading platforms in the industry.
Known for its user-friendly interface and extensive range of features, it is an excellent choice for both beginners and experienced traders.
Some key features of MT4 include:
- Advanced charting tools and indicators
- Customizable interface and support for Expert Advisors (EAs)
- One-click trading functionality
- Mobile and tablet apps for trading on the go
MetaTrader 5
Although MT4 remains popular, Tickmill also offers MetaTrader 5 (MT5), a more advanced trading platform with additional tools and functionalities.
MT5 is ideal for traders who require more advanced features, such as:
- Depth of market (DOM) and economic calendar integration
- More built-in indicators and graphical objects
- An improved strategy tester for EAs
- Support for additional order types (e.g., buy stop limit and sell stop limit)
MetaTrader WebTrader Platform
For traders who prefer a browser-based trading experience, Tickmill provides the MetaTrader WebTrader platform.
This platform requires no download or installation and is accessible from any computer with an internet connection.
Some features of the WebTrader platform include:
- Access to all the functionality of MT4 and MT5, including trading, charting, and analysis tools
- Customizable interface and support for EAs
- Real-time updates and smooth performance
- Secure login with encrypted data protection
In summary, Tickmill’s selection of trading platforms, including MT4, MT5, and the WebTrader platform, provides traders with a range of options to meet their individual needs and preferences.
With advanced tools, intuitive interfaces, and additional features such as support for EAs and mobile trading, these platforms cater to various trading styles and strategies.
Open Account Now
Markets and Instruments
Tickmill offers a wide range of trading instruments for its clients.
These include various asset classes such as Forex, CFDs, stocks, futures, metals, bonds, and cryptocurrencies.
This diverse offering allows traders to access a plethora of markets and take advantage of multiple investment opportunities.
Forex trading is one of Tickmill’s primary offerings, with over 60 currency pairs available to trade.
This includes major, minor, and exotic pairs. The Forex market is known for its liquidity and accessibility, making it an attractive option for many traders.
In addition to Forex, Tickmill also provides access to trade CFDs on multiple markets. These include:
- Stocks: Traders can take positions on a wide range of popular stocks from various global markets, including the US, UK, and European markets.
- Indices: Tickmill offers CFDs on a broad selection of indices, reflecting the performance of different stock markets around the world.
- Commodities: Clients can trade CFDs on various commodities such as metals, energies, and agricultural products. This includes popular commodities like gold, silver, oil, and natural gas.
- Bonds: Bond CFDs are available for those who want to trade government bonds, including the US, UK, and German bonds.
For traders interested in cryptocurrencies, Tickmill provides the opportunity to trade CFDs on popular digital currencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
These instruments offer an alternative investment approach for those looking to diversify their trading portfolios.
It is important to note that trading these instruments comes with its associated risks, and traders should familiarize themselves with the specifics of each market before venturing into them.
By offering a diverse range of markets and instruments, Tickmill aims to cater to the needs and preferences of various types of traders.
Fees and Spreads
Commission
Tickmill offers two main account types: Classic and Pro. The Classic account is commission-free, while the Pro account charges a commission of $2 per 100,000 units traded, which is considered low compared to other brokerage firms.
Low Spreads
The broker is known for its low spreads across both account types.
In the Classic account, the average spread is around 1.6 pips for the popular EUR/USD currency pair, and for the Pro account, it starts from 0.0 pips, offering a tight spread for traders looking for low-cost opportunities.
The Pro account’s low spreads, combined with its reasonable commission, can result in cost-effective trading conditions for more experienced users.
Here’s a quick comparison of the average spreads for some of the common instruments:
| Instrument | Classic Spread | Pro Spread |
|---|---|---|
| EUR/USD | 1.6 pips | 0.0 pips |
| GBP/USD | 2.1 pips | 0.0 pips |
| USD/JPY | 1.5 pips | 0.0 pips |
Other Trading Fees
Tickmill does not charge any deposit or withdrawal fees, although users should be aware of potential fees associated with their payment provider.
Additionally, the broker charges an inactivity fee of $10 per month if a trading account remains dormant for 12 consecutive months.
To summarize, Tickmill offers competitive trading fees through its low spreads and reasonable commission structure, making the platform appealing to both novice and experienced traders.
It’s essential to understand the fee structure and choose the account type that best fits your needs to benefit from the platform’s cost-effective trading conditions.
Open Account Now
Deposit and Withdrawal Options
Tickmill offers a variety of deposit and withdrawal options to accommodate the diverse preferences of its clients.
In this section, we will discuss the following methods: Bank Transfer, Credit and Debit Cards, and E-Wallets.
Bank Transfer
Bank transfers are a reliable method for depositing and withdrawing funds. Tickmill processes bank transfer deposits within 1-2 business days, while withdrawals can take up to 5 business days to reach your account.
Clients should be aware that their banks may charge fees for these transactions.
- Minimum deposit: No minimum amount
- Minimum withdrawal: $10
- Processing time for deposits: 1-2 business days
- Processing time for withdrawals: Up to 5 business days
Credit and Debit Cards
Tickmill accepts Visa and MasterCard credit and debit cards for deposits and withdrawals.
Deposits made using this method are processed instantly, while withdrawals can take between 1 to 9 business days to complete.
- Minimum deposit: $10
- Minimum withdrawal: $10
- Processing time for deposits: Instant
- Processing time for withdrawals: 1-9 business days
E-Wallets
For clients who prefer digital payment methods, Tickmill supports popular e-wallets such as Skrill, Neteller, and FasaPay.
E-wallet deposits are processed within 24 hours, and withdrawals are typically completed within the same time frame.
- Minimum deposit: $5
- Minimum withdrawal: $5
- Processing time for deposits: Within 24 hours
- Processing time for withdrawals: Within 24 hours
In summary, Tickmill provides a range of options for clients to conveniently deposit and withdraw funds.
Clients should consider their preferences and potential transaction fees when choosing the best method for their needs.
Open Account Now
Trading Tools and Education
Educational Content
Tickmill offers a variety of educational content to help traders enhance their knowledge and skills.
The resources include articles, eBooks, and video tutorials which cover a wide range of topics such as market analysis, trading strategies, and risk management.
Users can access these materials conveniently through the Tickmill website.
Webinars
Tickmill conducts regular webinars led by experienced professionals in the industry.
These interactive sessions not only provide valuable insights into trading concepts but also offer practical strategies that traders can implement in their daily trading activities.
Webinars are scheduled regularly, allowing traders to participate and ask questions in real-time.
Research and Strategies
Tickmill provides in-depth research and market analysis through its dedicated team of analysts.
Traders have access to daily market updates, technical and fundamental analyses, and trading ideas.
Additionally, the broker offers trading strategies that cater to various trading styles and timeframes, ensuring that there is something for every trader.
Trading Signals
The broker also offers trading signals to help traders make informed decisions.
These signals, generated by technical analysis tools and expert opinions, provide entry and exit points for trades in various financial instruments.
By integrating these signals into their trading strategies, traders can potentially improve their overall performance.
In summary, Tickmill’s trading tools and education offerings are designed to cater to traders at various experience levels.
From educational content and webinars to research and trading signals, there is a wealth of information and support available, enabling traders to grow in confidence and skill as they navigate the financial markets.
Open Account Now
Customer Support
Tickmill offers a responsive and efficient customer support system to cater to their clients’ needs.
The support team, comprised of experienced professionals, is dedicated to providing assistance to clients and addressing their concerns promptly.
Multiple communication channels are available for clients, ensuring they can conveniently reach out for support.
These channels include email, telephone, and live chat. The support staff operates 24/5 alongside the forex market, ensuring that clients’ needs are promptly attended to as they arise.
In addition to the traditional channels, clients can also connect with Tickmill through various social media platforms, such as Facebook.
This allows for increased accessibility and an additional layer of support for clients who prefer using social media for their inquiries.
Moreover, Tickmill’s website offers a comprehensive and well-organized FAQ section, which covers a wide range of topics and questions commonly encountered by clients.
This resource can prove useful for both new and experienced clients who are seeking specific information or guidance in a more self-directed manner.
In summary, Tickmill’s customer support incorporates multiple channels and resources to cater effectively to their client base.
By offering support through email, telephone, live chat, and social media, they ensure their clients can conveniently obtain assistance and address their needs, maintaining a positive trading experience.
Additional Features
Tickmill offers a variety of additional features that cater to the needs of retail traders.
These features are designed to enhance the trading experience while providing risk protection and ensuring efficient execution.
One of the key features provided by Tickmill is the availability of high leverage.
The company offers various leverage options that are suitable for different levels of traders. This allows traders to magnify their gains while keeping the capital investment at a minimum.
However, it’s important to note that using high leverage can also increase the risk of losses.
Tickmill prides itself on its fast execution and low latency. The company utilizes advanced trading infrastructure and technology to ensure that all orders are executed quickly and accurately.
This helps traders capitalize on short-term market movements and minimizes the risk of slippage.
In terms of risk protection, Tickmill has implemented several measures to ensure the safety of its retail traders. These measures include:
- Negative balance protection: This feature protects traders from losing more than their account balance in case of extreme market volatility.
- Segregated accounts: Tickmill keeps client funds separate from the company’s own funds, ensuring that client money is secure and protected in case of any financial irregularities.
Additionally, Tickmill offers a range of educational resources and tools for its traders. These include market analysis, webinars, and in-depth guides on various trading topics.
By providing these resources, Tickmill aims to equip its clients with the knowledge necessary to make informed trading decisions and manage their risk effectively.
In summary, Tickmill’s additional features focus on providing retail traders with efficient execution, high leverage options, risk protection measures, and educational resources.
These features are designed to create a secure and optimal trading environment for clients to achieve their trading goals.
Open Account Now
Pros and Cons
Pros
- Reliability: Tickmill has consistently maintained a good reputation in the industry, which is backed up by its strong regulatory framework. Traders can feel confident that their funds are secure and well-protected.
- Trading Platforms: Tickmill offers both MetaTrader 4 and MetaTrader 5 platforms, which are widely popular among traders for their user-friendly interface and advanced trading tools.
- High Order Execution Speed: Tickmill boasts on their lightning-fast execution speeds, ensuring that traders can benefit from reduced slippage and better control over their pending orders.
- Low Spreads and Commissions: Traders can enjoy competitive pricing with low spreads and commissions, which ultimately translates to a better trading experience and enhanced profitability.
Cons
- Limited Product Offering: The range of financial instruments available on Tickmill remains somewhat limited, with a primary focus on currency pairs and CFDs. This could be a drawback for some traders looking for a more varied portfolio.
- No Proprietary Platform: Although MetaTrader 4 and MetaTrader 5 are industry-leading platforms, some traders might prefer a proprietary trading platform that offers a unique and personalized experience. Tickmill currently does not offer such an option.
- Lack of Educational Resources: The educational resources available on Tickmill’s website are rather limited, potentially making it challenging for beginner traders to develop their skills and knowledge base.
In summary, Tickmill is a reliable forex broker that provides a secure trading environment and competitive trading conditions.
However, it falls short in terms of product offerings and educational resources. Ultimately, it is important for traders to weigh the pros and cons to determine if Tickmill meets their individual needs and requirements.
Conclusion
Tickmill has proven to be a reliable and efficient trading platform for both beginner and experienced traders alike.
With its competitive spreads, low fees, and wide range of tradable instruments, Tickmill offers a comprehensive trading environment for its clients.
One of the key strengths of Tickmill is its commitment to customer support and education.
With an extensive selection of educational resources and webinars available, the platform ensures that all clients have access to the tools and knowledge necessary for successful trading.
Furthermore, Tickmill provides strong security measures to protect clients’ funds and information, giving them peace of mind when trading on the platform.
In addition to its regulatory oversight through autorities such as the FCA and CySEC, the platform also offers negative balance protection and segregated accounts for additional security.
While the platform may not offer the same level of advanced features as some of its competitors, it does provide a solid foundation for traders to build their skills and portfolios.
The simplicity of its interface and focus on core trading tools make it an ideal choice for those looking for a straightforward, no-nonsense trading experience.
In summary, Tickmill covers the fundamental aspects of a trading platform, while remaining accessible and user-friendly.
Its commitment to customer support, along with its competitive pricing structure, make it an appealing choice for traders of all levels.
Open Account Now
Related Brokers Reviews
Don't Miss Pro Indicators and Trading Systems
