Tickmill Broker Review

Justin Freeman

Broker Information

  • Company Name: Tickmill Ltd
  • Founded: 2014
  • Country: Seychelles
  • Phone: +442036086100

Platform Info

  • Platform: MetaTrader 4, WebTrader
  • Dealing Desk: No
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: FCA, CySEC, FSA SC
  • Bonus: $30 Welcome Account
  • Minimum Deposit: $100
  • Leverage: 1:500
  • US Clients: No
  • Funding Methods: Bank Transfer, Visa, MasterCard, Skrill, Neteller, fasapay, UnionPay, dotpay, NganLuong.vn, Qiwi Wallet, Thai online bank transfer, Globepay, Vietnam Instant Online Bank Transfer, Paysafe
  • Pairs Offered: 62+
Bonus offer for ForexFraud visitors
$30 Welcome Account

Expert Summary

The Tickmill group of companies owns and operates Tickmill.com, a multi-asset, multi-regulated CFD broker. The Group companies include Tickmill UK Ltd, regulated by the Financial Conduct Authority (FCA), Tickmill Europe Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), and Tickmill Ltd, regulated by the Financial Services Authority of Seychelles.

The other subsidiary is the 100% owned Procard Global Ltd, a UK-registered firm. Coming under the legislative framework of MiFID-II, the broker is authorised to provide services across countries in the European Economic Area (EEA) and beyond. Besides, if you are a retail client residing in Europe or the UK, you automatically come under the protection of the Investor Compensation Fund (ICF) or the Financial Services Compensation Scheme (FSCS).

Clients can access the 80+ financial instruments offered by the CFD broker from a choice of three account types, and minimum deposits from as low as $100. The trading conditions comprise spreads from 0.0 pips, max leverage of 500:1, minimum lot size of 0.01, near-zero commissions, three base currencies and negative balance protection. The client trading platform comprises only the MetaTrader 4 across computers and mobile devices.

The platform supports both manual and automated trading and includes several analytical tools with the broker providing access to the Myfxbook copy trading platform and Autochartist. Add to that the several funding methods and multi-lingual customer support channels.

Tickmill currently operates in more than 200 countries, has more than 200, 000 registered customers, claims to have executed more than 89 million trades at an average monthly trading volume of about 123 billion. W

ith the average trade execution speed at 0.2 seconds, tons of trading tools and educational material, the award-winning ECN broker meets most of the requirements of traders; beginners and professionals alike.

The ECN broker currently ranks 4/5 from 253 reviews on Trustpilot, with only 10% reviewers rating the broker in the lowest two categories.

Tickmill MT4 Screenshot

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 with Tickmill

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 Trading Platforms

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 WebTrader Screenshot

Tickmill Review Conclusion

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.

Compare with other forex brokers

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Justin Freeman

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