Tickmill Review 2024

Quick Links

• Our Review Method

• What is Tickmill?

• Tickmill Pros and Cons

• Tickmill Review Summary in 12 Points

• Overall Tickmill Ranking

• Awards

• Is Tickmill Safe or a Scam?

• How Are You Protected?

• Leverage

• Accounts

• Fees

• Spreads

• Trading Instruments

• Deposits and Withdrawals

• Trading Platform

• Customer Support

• Education

• Conclusion

Our Review Method ▲

In our comprehensive review process, we meticulously analyze and compare brokers based on a wide range of criteria including regulatory status, transparency, fees, platform offerings, customer support, and education resources. Our analysis is grounded in rigorous testing and research, comparing Tickmill against over 1000 other brokers to ensure our recommendations are well-informed and trustworthy.

What is Tickmill? ▲

Tickmill operates under the trading name of Tickmill Ltd, which is part of the Tickmill Group. This Forex and CFD broker excels in providing high-quality trading products and services with a clear focus on transparency and innovative technology. Tickmill offers an expansive selection of over 180 trading instruments that span across Forex, Stocks, Indices, Metals, Bonds, and Cryptocurrencies, among others, catering to a diverse range of trading preferences.

Tickmill Pros and Cons ▲

Pros

• Heavily regulated and globally recognized

• Offers good trading conditions especially for Professional or regularsized traders

• Boasts some of the industry's best learning and research materials

• Highly conducive for EA trading

Cons

• Service offerings vary by entity

• Lack of 24/7 customer support

• Forex spreads can be slightly above average in some instances

Tickmill Review Summary in 12 Points ▲

• Headquarters: UK

• Regulation: FCA, FSA, CySEC, FSCA, DFSA

• Instruments: 62 Forex currency pairs, Cryptocurrencies, Bonds, CFDs, Precious Metals, Stock indices, and more

• Platforms: MT4, MT5 WebTrader, Mobile App

• EUR/USD Spread: 0.3 pips

• Demo Account: Available

• Base Currencies: USD, GBP, EUR

• Minimum deposit: $100

• Education: Comprehensive education center with seminars, webinars, video tutorials, and much more

• Customer Support: Available 24/5

Overall Tickmill Ranking ▲

Tickmill is adjudged to be a highly reputable broker offering safe and exceptionally favorable trading conditions, marked by transparency and sophisticated technology. The broker caters to traders of all levels with a variety of trading services and requires a low initial deposit. A significant advantage of Tickmill is its global reach and offering of some of the lowest spreads in the industry. Based on our comprehensive testing and comparison with over 1000 brokers, Tickmill's Overall Ranking is 4.45 out of 5.

Awards ▲

Throughout its operation, Tickmill has seen significant growth and has been frequently recognized and awarded by industry leaders, which greatly contributes to building a successful trading portfolio. Tickmill is also known for its exciting promotions that help enhance trading opportunities for both beginners and experienced traders alike.

Is Tickmill Safe or a Scam? ▲

Tickmill is definitely not a scam. It is a secure and reputable broker offering a low-risk trading environment for Forex and CFDs. The broker's regulatory and licensing credentials with the FCA (UK) underscore its commitment to providing a safe trading environment for its clients.

How Are You Protected? ▲

Tickmill prioritizes the security and transparency of client transactions by maintaining segregated accounts at trusted financial institutions, in line with FCA regulations. Additionally, clients are protected under the Financial Services Compensation Scheme (FSCS), with coverage for investments up to £50,000, ensuring a high level of protection for traders.

Leverage ▲

Being regulated within the jurisdiction of the UK and Europe, Tickmill adheres to the stringent regulations put forth by the European authority, ESMA. The European regulator has imposed limitations on the maximum levels of leverage available, recognizing the risks associated with the use of excessively high leverage.

Tickmill Europe clients are permitted to use leverage up to 1:30 for Forex products, 1:5 for CFDs, and 1:10 for Commodities. On the other hand, international traders who have accounts registered under jurisdictions served by Tickmill’s entities in Seychelles and other locations can access significantly higher levels of leverage.

Accounts ▲

Tickmill offers three primary account types tailored to different trader needs. The Classic Account operates on a spread-only basis, while the Pro Account incurs a commission on trades. The VIP Account caters to high-volume traders, offering customized conditions as per agreements. Additionally, Tickmill provides a complimentary Demo Account and an Islamic or Swap-Free Account that aligns with Sharia law, offering identical trading conditions without swap or rollover interest on overnight positions, which contradicts the faith.

Opening a Tickmill Live Account is a straightforward process, entailing the following steps:

• Select and click on the “Create Account” page

• Enter necessary personal information (Name, email, phone number, etc.)

• Provide verification of personal data through documentation (proof of residence, ID, etc.)

• Complete an electronic quiz to confirm your trading experience

• Once your account is verified and active, you can proceed with depositing funds.

Fees ▲

Tickmill’s fee structure is incorporated within the spreads, and the broker does not impose charges on deposits and withdrawals. Nevertheless, intermediary financial institutions or eWallets might levy fees, which are out of the broker’s control. Tickmill also refrains from applying non-trading fees. Nonetheless, the fee conditions can vary based on the regulatory environment and the broker’s adherence to these regulations. The overnight fee, for instance, such as the EUR USD swap, may also affect traders, with a long position swap at -11.742 and a short position swap at $6.693.

After a comprehensive analysis and comparison with over 1000 other brokers, Tickmill's Fees are considered low or average, achieving an overall rating of 4.4 out of 5. Although fees may vary across different entities, Tickmill’s overall fee structure is deemed favorable.

Spreads ▲

Tickmill prides itself on offering competitive spreads across all its platforms, alongside commission per trade and high leverage available for a wide range of instruments including CFD currencies, stocks, commodities, indices, bonds, options, and metals. The average spread for the EUR USD pair stands impressively at 0.3 pips, which is notably lower than the industry average.

Our extensive testing and comparison with other brokers have led to Tickmill Spreads being rated highly, with an overall score of 4.6 out of 5. The spreads for Forex are significantly lower than the industry's average, and the spreads for other instruments are equally attractive, making Tickmill a competitive choice in the market.

Trading Instruments ▲

Tickmill Europe Ltd, holding the requisite licensing to provide investment services, offers a substantial array of over 180 top-quality trading instruments. This range encompasses 62 Forex currency pairs, the opportunity to trade CFD on Bitcoin with a margin of 20% and 0 Commission per side, per 1 CFD, in addition to Stock Indices and Oil, Bonds, Precious Metals, and Futures. The expanse of Tickmill's market offerings earns a commendable score of 4.4 out of 5, reflecting a broad selection among Forex, Futures, Bonds, Cryptos, and more.

Deposits and Withdrawals ▲

Tickmill prioritizes convenience and diversity in its payment options, though availability may depend on the user's country of residence. The broker's funding methods have been assessed positively, garnering a score of 4.5 out of 5. The minimum deposit requirement is competitive within the industry, and fees are minimal or non-existent. Additionally, the broker supports several account-based currencies, though available deposit options may vary by entity.

Pros

• Multiple payment methods including Credit/Debit cards, Bank Wire, Skrill, Neteller, UnionPay, and more

Cons

• Some payment methods may not be available in all regions

Tickmill boasts a minimum deposit of $100, making it accessible for traders of various sizes, while a VIP account requires a balance of $50,000. Compared to other brokers that typically require a $500 minimum deposit, Tickmill stands out for its lower entry barrier.

Tickmill enforces a zero-fee policy on withdrawals, covering all fees up to $100 for deposits from $5,000, and processes withdrawal requests within one working day.

Trading Platform ▲

Tickmill provides secure and robust trading platforms, including MetaTrader 4 and MetaTrader 5, accessible via desktop, web, and mobile versions. The availability of these platforms, coupled with excellent research tools, earns Tickmill a score of 4.5 out of 5. The web platform allows for convenient trading directly from the browser, though it is somewhat limited in tools and drawing instruments. The desktop platforms, however, are enriched with various tools like Autochartist, Myfxbook AutoTrade, and more, supporting a wide range of trading strategies without restrictions.

Customer Support ▲

Tickmill's professional support team is available 24/5, offering assistance in multiple languages through Live Chat, Email, and Phone. While the service is not available on weekends, requests can be submitted via a contact form. The quality and accessibility of Tickmill's customer support have been rated at 4.4 out of 5, indicating fast, knowledgeable responses and ease of access during working days.

Education ▲

Tickmill distinguishes itself with a comprehensive Learning Center and Trading Blog, providing a wealth of educational materials and programs designed to enhance trading skills and knowledge. The broker's commitment to education is evident in the availability of online webinars, live market analysis, and regular seminars. With a score of 4.5 out of 5, Tickmill's educational offerings are of high quality, supported by cooperation with leading market data providers.

Conclusion ▲

In summary, Tickmill presents an appealing proposition to clients, highlighted by its low minimum deposit requirement, advanced technical solutions, extensive range of instruments, and engaging promotional campaigns. The broker also offers competitive spreads for Forex trading and supports a wide variety of trading strategies, catering to a diverse clientele from beginners to advanced traders. Tickmill's strong performance across key areas such as trading platform quality, customer support, and educational resources, further solidifies its position as a commendable choice for individuals seeking a reliable forex broker.