Experts’ Viewpoint
Our experts are satisfied that Tickmill is a trustworthy and reliable broker. The firm is a member of the Tickmill group headquartered in Seychelles. It is regulated by the Seychelles Financial Services Authority (FSA) and is fully authorised and regulated by the appropriate bodies in the countries in which it trades. Tickmill UK, for example, is regulated by the Financial Conduct Authority (FCA), and the broker also operates within the EU, where it is fully regulated and licenced by the Cyprus Securities and Exchange Commission (CySEC). Brokers registered with these regulating bodies must adhere to a set of rules and standards. If customers have evidence that the rules and standards have been violated, they can file a complaint with the relevant regulating body.
The reviews of Tickmill on the industry websites and broker comparison sites are generally favourable. Our experts could find no outstanding complaints against the broker. ForexFraud.com includes Tickmill on its list of brokers considered safe to use. Client funds are held in segregated accounts with top-tier banks. The clients also benefit from negative balance protection.
Our experts also checked the legal documentation provided by the brokerage that is aimed at new and potential clients. Tickmill appears to have all legal documentation and published policies in place, meeting all best practices in this area, which is generally an indication of a respectable broker.
The legal page on the website includes details of the broker’s Terms of Business, Conflict of Interest Policy, Privacy Policy, a Customer Complaint Form and the Client Service Agreement. It is advised that you review all necessary legal documentation before opening an account. That will allow you to be sure there is nothing to cause concern, given your individual needs and requirements when it comes to your investments.
Broker Summary
Tickmill is a multi-asset broker with a range of features that make it an attractive option for many traders. The broker serves more than 160,000 clients worldwide and has executed more than 270 million trades. There are over 80 tradeable instruments on offer, across a range of asset classes, with spreads from 0.0 pips available, plus highly competitive commissions and fees.
The broker allows any trading strategy, including automated trading, hedging and scalping. Tickmill also takes pride in its advanced trading platforms, excellent trading conditions and fast execution of trades. It claims an execution time of 0.20 seconds on average, with no requotes. A Tickmill bonus is available in the form of its $30 Welcome Account — terms and conditions apply — and this bonus may not be available in all jurisdictions.
There is a choice of account types, aimed at both amateur and professional traders. This broker also offers an Islamic account that operates in compliance with Sharia Law.
The Tickmill demo account is a useful feature. It allows new customers to explore the full range of tools and features offered by the platform and grants access to all the same tradeable instruments that would be available with a live account. At Tickmill, sign-up is quick, easy, and free, and there is a wide range of funding methods available. Once you have completed the Tickmill sign up and Tickmill sign in process, there is a comprehensive educational section, including webinars, eBooks, video tutorials and a useful forex glossary.
Broker Intro
Tickmill is a CFD trading company, based in the Seychelles. The broker was founded in 2014 and is part of Tickmill Group, which operates in various countries around the world. The company allows trading in a number and range of tradeable assets, including forex, stock indices, bonds, and precious metals.
Tickmill account types include a classic account, a professional account, a VIP account, and of course the Tickmill demo account, which makes the broker an attractive choice for less-experienced traders.
The account you choose will, of course, depend on your level of experience and the amount you have available to invest since the Tickmill minimum deposit and minimum balance allowed is dictated by the type of account you open. The Classic Account is a good choice for new or intermediate traders. It requires a minimum deposit of just $100 and offers spreads from 1.6 pips, with zero commissions. The Pro account also has a minimum deposit of $100 but offers spreads from 0.0 pips, with commissions of 2 per side per 100,000 traded. There is also a VIP account available. That is for investors with higher amounts to play with, as it requires a minimum balance of $50,000. Spreads start at 0.0 pips and commissions are 1 per side per 100,000 traded. Stop and limit levels for VIP and Pro account holders are zero.
All accounts are available as a swap-free Islamic account, and all offer up to 1:500 leverage, although the leverage you are offered will depend on several factors. Base currencies available for all account types are USD, GBP and EUR.
Tickmill specialises in trading CFDs, a very popular form of derivative trading. It allows traders the potential to profit by speculating on price movements of underlying assets without owning them. It should be noted that this can be a risky form of trading, so it is vital that traders are well informed and educated on the topic. Tickmill has a comprehensive education and training section, which will potentially be a great help.
Tickmill is also an award-winning brokerage. In 2020 the firm won Best Commodities Broker at the Rankia Markets Experience Expo, Most Reliable Broker at the Online Personal Wealth Awards, and Best Forex Education Provider, from Global Brands Magazine.
Spreads & Leverage
Tickmill offers floating spreads, from 0.0 pips, depending on the account type you hold and the instrument you are trading. The spreads available for each instrument and currency pair are displayed on the website. The EURUSD quotes a minimum spread of 0.0 pips and a typical spread of 0.1 pips. The EURGBP shows a minimum spread of 0.0 pips and a typical spread of 0.4 pips, while the GBPJPY shows a minimum spread of 0.0 pips and a typical spread of 1.0 pips. Remember that the minimum spread quoted will be for accounts that also include a commission. On the zero-commission Classic Account, spreads will be higher.
The level of leverage offered will depend on a range of factors. They include the regulations regarding leverage in your jurisdiction and the instrument being traded. EU retail accounts are limited by the European Securities and Markets Authority (ESMA). At the most, a maximum of 1:30 on major currency pairs with even less permitted on other instruments. It is, however, possible for Tickmill leverage to be as high as 1:500 depending on a wide variety of factors, and of course, subject to any restrictions imposed by law or regulating bodies.
At Tickmill it is possible to trade more than 60 currency pairs and leverage offered on minor or exotic pairs will be significantly less than the maximum. The highest leverage available on the USDDKK, for example, is just 1:10. Other instruments also have their own set maximum leverage. For example, it is 1:100 on most indices and bonds.
Platform & Tools
Tickmill offers the award-winning MT4 platform as both a download and via WebTrader. Tickmill MT4 trading is also available via mobile apps which are available free for both iOS and Android devices. This versatile and popular platform gives traders access to a suite of advanced features that make trading online more straightforward than ever. The MT4 platform is very intuitive, highly customisable and able to integrate well with many third-party trading tools, charts and indicators. It includes advanced technical analysis capabilities, with more than 50 indicators and charts available in 39 languages. The platform also allows Expert Advisor trading using VPS services, allowing for automated trading, and provides Trading Signals, with an advanced notification system.
MT4 software can be downloaded for Windows or Mac, or traders can use WebTrader, from any device, or the downloadable mobile apps for smartphones and tablets.
Other trading tools available for Tickmill’s clients include Autochartist, for quick and powerful technical analysis, one-click trading for speed and convenience, an economic calendar, and forex calculators to help you calculate exchange rates, margins and pips. There are also tools to facilitate smooth and efficient copy trading, such as Myfxbook copy trading and Pelican trading.
Commissions & Fees
Tickmill fees and commissions are competitive. The broker does not charge a commission on its Classic Accounts, taking all profits from the very low spreads. On the Pro and VIP account, commissions are taken, but they are highly competitive and the commissions charged are reflected in the fact that the spreads on these accounts are extremely low, starting at just 0.0 pips for some instruments. Swap fees are applied on positions held open overnight, and these are easy to access via the MT4 Market Watch panel. Simply right-click, select ‘symbols’, then select the instrument you are trading, and then select ‘Properties’ to see all your swaps.
Pricing at this broker is transparent, with all trading costs clearly laid out. On the website, go to ‘Trading’ in the top bar menu, then select ‘Trading Conditions’, then ‘Spreads and Swaps’ to see all current potential transaction fees you may be charged.
Tickmill does not charge deposit or withdrawal fees and will cover deposits from $5,000 (for deposits made in one transaction). Transaction fees up to $100 are also covered. Be aware that banks, credit cards and other payment processors may charge fees that are outside the control of the broker. The broker does reserve the right to charge an administration fee on inactive accounts. Fees can of course change at any time, potentially without notice, so always keep an eye on any updates to terms and conditions with any brokerage or financial institution. There may be further fees and trading costs not mentioned in this Tickmill broker review.
Education
Many online brokers consider that providing clients with education and training is a vital and valuable service; Tickmill is no exception. When clients at Tickmill login to their account, they can access a comprehensive education section, with a range of useful resources. There are webinars available, in multiple languages, hosted by a team of expert analysts and covering a range of topics. There are also video tutorials, covering, among other subjects, market analysis, trading psychology and trading strategies. Downloadable eBooks are available covering a variety of topics, from working out your trading costs to practising good risk management. The broker also supplies clients with a useful forex glossary and sections on both fundamental and technical analysis.
Customer Service
Tickmill support is available via a few different channels. There is a dedicated client support phone line, plus a customer support email address, as well as a convenient contact form on the website. That form is located on the Tickmill contact page. There is also a live chat facility, which can be accessed at the right-hand side of the contact page. All support channels are available to both potential and existing account holders. There is also a useful FAQ page, which answers many common questions. It is split into sections to make it easier to find the information you need and is fully searchable. Be sure to check out the information pages on the website and the FAQ, as this may save you the trouble of contacting customer support.
Final Thoughts
Tickmill is undoubtedly an interesting brokerage for online traders. Furthermore, Tickmill leverage is generous, fees are low and spreads are highly competitive. The website is clean and uncluttered and the award-winning MT4 platform will make this broker a popular choice with many traders.
The broker has a good selection of tradeable instruments, from forex to indices and the different Tickmill account types make this brokerage suitable for traders at all levels. The zero-commission trading model on the Classic Account is attractive for those who want to keep trading costs simples and Tickmill regulation and licencing is all in order. If you are a looking for a versatile and reliable multi-asset brokerage, then Tickmill is certainly a company to consider.
Contacts
- Phone: +852 5808 2921
- Email: [email protected]
- Live chat & web form: https://www.tickmill.com/about/contact-us
FAQ
Is Tickmill trustworthy?
Tickmill is a registered, regulated and licensed broker. The brokerage operates under the authority of the Seychelles Financial Services Authority (FSA). It is also regulated by the appropriate bodies in other jurisdictions, such as the Financial Conduct Authority (FCA), in the UK, and the Cyprus Securities and Exchange Commission (CySEC) in the EU. While it is always vital to exercise caution when trading online, there is no reason to suspect that Tickmill is not a reliable brokerage.
What instruments can I trade with Tickmill?
With Tickmill, you can trade several instruments, including CFDs, forex, stocks indices, precious metals and bonds.
Which forex pairs does Tickmill offer?
Tickmill offers over 60 forex pairs, including majors, minors and exotics.
How do I open an account with Tickmill?
Opening an account is quick and easy and it can be done entirely online. You simply need to register on the site and verify your account by providing some documentation.
What is the minimum deposit at Tickmill?
For Classic and Pro Account holders, there is a minimum deposit of $100. A VIP account requires a minimum balance of $50,000 to be maintained at all times.
How do I deposit funds into my Tickmill account?
You can transfer funds into your account using a choice of payment methods, including a bank transfer or a credit card. You can also use various third-party payment processors, such as Skrill, Neteller, Sticpay, and Fasapay.
Is trading with Tickmill risky?
Trading with any broker is potentially risky. Tickmill includes the following 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.”
*66% of retail CFD accounts lose money