Last Updated: December, 2019.
Launched in 2014, Tickmill is certainly not one of the veterans of the trading industry. That considered, it is all the more impressive how it managed to make its presence felt in the online trading vertical, on a global level, in such a short time.
Indeed, the operation consists of three different branches, each of which is meant to cover a given geographical area. As such, the companies behind these branches are licensed by different financial authorities.
Tickmill UK Ltd for instance, is licensed by the UK’s FCA. Tickmill Europe Ltd on the other hand, is regulated by CySEC. Last, but not least, we have Tickmill Ltd. which is sort of the parent company of the whole outfit. It is based in the Seychelles and licensed by the local FSA.
Tickmill Europe Ltd used to be known as Vipro Markets Ltd, and – as said above – it is registered with the UK’s FCA. Its FCA registration number is 733772. In addition to the FCA, the operation is also registered with BaFIN, France’s ACPR and Italy’s CONSOB. Spain’s CNVM is also on the list of authorities which have registered the operation.
The financial regulator that has provided a license in addition to registration is CySEC though. The CySEC license number of the operation is 278/15, and it is indeed consistent with the 2014 launch-year of the operation. Being a Cyprus Investment Firm, Tickmill is a member of the Investor Compensation Fund, and as such, it can provide some rather attractive guarantees to its traders.
Obviously, with its regulatory background, Tickmill is MiFID II-compliant as well. What that means is that it is free to legally peddle its trading services throughout most of the European Economic Area (as well as quite a few other countries where its regulatory status is proper).
The USA is a territory they do not offer their trading services.
The reputation of the broker is quite decent. That does not mean of course that there are no complaints concerning its services. There are the usual issues with withdrawals but so few that we are pretty sure they have been handled by Tickmill.
Knowing the above, what can we consider to be the main selling points of the brokerage?
As shown above: the broker is regulated. Its regulatory profile is in fact quite impressive.
It offers some rather outstanding trading conditions, with spreads starting from 0.0 pips on some tradable assets/account types. Negative balance protection is also offered, together with some 85 trading instruments.
The broker takes the security of its traders’ funds very seriously: trader monies are kept in segregated bank accounts, and thus the broker cannot touch them – if it ever gets into bankruptcy-problems.
The operator allows the use of all EAs and trading algos: this is green light for expert users of MT4, who can thus take full advantage of the power of the best trading platform in the world.
Despite its relative youth, Tickmill has already picked up a number of prestigious Forex awards. In 2016, the Most Trusted Forex Broker and The Best ECN/STP Broker awards landed in its trophy case.
Tickmill Account Types
The brokerage offers a risk-free Demo account, meant to give traders a taste of what’s on offer over in the real money section. The Demo account offers full access to MT4, as well as to the full array of tradable assets, not to mention real-life volatility and prices.
In addition to that, no fewer than 5 more real money accounts are available.
Of these, the Classic Account is the most accessible. It is an entry-level account aimed at those looking to get into the game cheaply, and without having to pay commissions. The minimum deposit for this account is 100 base currency (EUR, USD, GBP and PLN are all accepted). The maximum available leverage is 1:500 and the spreads start from 1.6 pips. Trade execution is of the NDD variety.
The Pro Account is quite an improvement in regards to spreads. While it does feature a commission of 2 per side per lot, its spreads start from 0 pips. The maximum available leverage is 1:500 on this account too.
The next stop on the Tickmill account type ladder is the VIP Account. The minimum balance for this one is 50,000 base currency – which means that this option is not for everyone. The spreads start from 0 pips on this account too and the maximum available leverage is 1:500 in this instance as well. The commission here is just 1 per side per lot.
Traders who log high trading volumes may earn the right to become Professional Clients, in which case, they’ll get to access special trading conditions.
Only those of truly impressive trading means can join this club though. If you happen to have a portfolio which exceeds EUR 500,000, and you fulfill at least another one of two remaining requirements, you’re in.
Another requirement concerns trading volume, which has to be at least 10 trades per quarter, over the previous 4 quarters.
The last requirement is about being a professional, and only those who worked in the financial sector for at least a year, in a relevant position, qualify.
The Islamic Account is a swap-free option, which is fully Sharia law-compliant. Those who want to set up such an account, have to open a regular account as described above, after which they have to request the conversion of this account into an Islamic one.
The trading conditions offered by the Islamic account are the same as those available through the above described regular accounts.
Deposit and Withdrawal Options
The minimum required deposit is $100. Deposits can be made through an impressive range of accepted methods, such as Bank Wire, VISA, MasterCard, Neteller, Skrill, FasaPay, PaysafeCard, Qiwi, UnionPay, DotPay and GlobePay.
There are no commissions charged on any of these deposit methods, with the exception of Bank Wire. To get the commission-free treatment on bank wire too, one needs to make a deposit larger than USD 5k.
Withdrawals do not incur commissions in any shape or form.
Tickmill features two trading platforms: MT4 and a Web Trader.
The Web Trader is obviously aimed at those who want instant access and aren’t keen on downloading and installing anything onto their computers.
It is a decent solution, though its capabilities obviously pale next to those of MT4.
MT4 is the gold standard in online trading. It is a fully customizable trading environment which provides traders with the tools to create their own technical indicators, custom scripts and EAs. Since Tickmill allows full use of EAs, this is indeed an important aspect in this instance.
Tickmill’s regulatory profile is definitely above average. Its trading platforms are hardly unique, but they are good nonetheless. The same goes for the account types it offers: they cover just about every need that may arise.
The trading conditions and trade execution is great on some assets/account types too.
The decent reputation that can be gleaned from various trader message boards/forums, is the cherry on the cake.