Tickmill Trading Broker Review 2024

Tickmill is a globally recognized forex and CFD broker that has carved out a solid reputation in the financial markets since its establishment in 2014. With a strong focus on providing exceptional trading conditions, Tickmill has become a favored choice among traders seeking low-cost trading, advanced platforms, and a wide range of trading instruments. Our comprehensive Tickmill review is based on a thorough self-test of the broker’s services, evaluating everything from its trading fees and platforms to its customer support and regulation. Whether you are a beginner or an experienced trader, Tickmill offers a seamless trading experience backed by top-tier regulation, competitive spreads, and an array of account options tailored to meet diverse trading needs.

Why to choose Tickmill?

Tickmill stands out as a top choice for traders who prioritize cost efficiency, reliability, and a regulated trading environment. The broker’s low trading fees, including some of the tightest spreads in the industry, make it particularly attractive for active traders and scalpers. Moreover, Tickmill’s strong regulatory framework, with licenses from the FCA, CySEC, and other reputable authorities, ensures that clients’ funds are safeguarded and that the trading conditions are transparent.

For traders who value speed and precision, Tickmill’s lightning-fast execution speeds help reduce the risk of slippage, providing an edge in volatile markets. Additionally, the broker offers a broad range of trading instruments, allowing traders to diversify their portfolios easily. Whether you are trading forex, commodities, indices, or bonds, Tickmill provides a robust platform that caters to all your trading needs.

Tickmill offers an impressive array of trading instruments, catering to traders with diverse interests and strategies. The broker provides access to more than 80 trading instruments across various asset classes, including:

• Forex: Tickmill is particularly strong in forex trading, offering over 60 currency pairs, including major, minor, and exotic pairs. The tight spreads and fast execution make it a favored choice for forex traders.

• Indices: Traders can access major global indices such as the S&P 500, NASDAQ, FTSE 100, DAX 30, and others. Trading indices allows for diversification and exposure to broader market trends.

• Commodities: Tickmill provides trading opportunities in key commodities, including precious metals like gold and silver, as well as energy commodities like oil. This allows traders to capitalize on macroeconomic trends and hedge against currency risk.

• Bonds: For those interested in fixed-income securities, Tickmill offers German government bonds, providing a way to trade interest rate movements and diversify portfolios.

• Cryptocurrencies: Tickmill also offers cryptocurrency trading with popular digital assets like Bitcoin, Ethereum, and Litecoin. This enables traders to participate in the rapidly growing and volatile crypto markets.

Tickmill’s broad range of instruments ensures that traders have ample opportunities to diversify their portfolios and explore various trading strategies across different markets.

Tickmill is renowned for its low-cost trading environment, making it a standout choice for both novice and experienced traders. The broker’s transparent fee structure ensures that there are no hidden costs, allowing traders to maximize their profits. Below is a breakdown of the various fees associated with trading on Tickmill:

Deposit Fee at Tickmill

Tickmill does not charge any fees for deposits, regardless of the payment method. This is a significant advantage for traders, as they can fund their accounts without worrying about extra costs. The broker supports multiple deposit methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller.

Withdraw Fees at Tickmill

Similar to deposits, Tickmill does not impose any withdrawal fees for most payment methods. However, it’s important to note that while the broker doesn’t charge fees, some payment providers may apply their own charges, so traders should verify this with their payment provider.

Account Fee

Tickmill does not charge any account maintenance fees, which means there are no ongoing costs simply for holding an account with them. This makes it an attractive option for long-term traders who want to avoid unnecessary expenses.

Inactivity Fee

Tickmill charges an inactivity fee of $10 per month if an account remains dormant for more than 12 months. While this fee is relatively low compared to other brokers, traders should be aware of it if they plan to take a break from trading.

Spreads and Commissions

Tickmill offers some of the most competitive spreads in the industry, particularly on its Pro and VIP accounts. Spreads on major forex pairs like EUR/USD can be as low as 0.0 pips, although a commission is charged on trades. The commission rates are very competitive, starting at $2 per side per lot on the Pro account and even lower on the VIP account. For the Classic account, there are no commissions, but the spreads start slightly higher at 1.6 pips.

Tickmill is a well-regulated broker, offering a high level of security and trustworthiness to its clients. The broker operates under multiple regulatory licenses from respected financial authorities, ensuring that it adheres to strict standards for client protection, transparency, and operational integrity. Below is a detailed look at Tickmill’s regulatory environment:

Regulator Licences of Tickmill

• FCA – Financial Conduct Authority – United Kingdom:
  Tickmill UK Ltd is authorized and regulated by the FCA under license number 717270. The FCA is one of the most respected regulatory bodies globally, known for its stringent rules and strong client protection measures.
• CySEC – Cyprus Securities and Exchange Commission – Cyprus:
  Tickmill Europe Ltd is regulated by CySEC under license number 278/15. CySEC ensures that Tickmill complies with European Union regulations, including the Markets in Financial Instruments Directive (MiFID II).
• FSA – Financial Services Authority – Seychelles:
  Tickmill Ltd is regulated by the FSA under license number SD008. The FSA provides a flexible regulatory environment while still maintaining oversight of the broker’s operations.

Investors Protection

Tickmill’s commitment to investor protection is evidenced by the safeguards it puts in place. Under FCA and CySEC regulation, client funds are held in segregated accounts, meaning they are kept separate from the company’s operational funds. This ensures that clients’ funds are protected in the unlikely event of the broker’s insolvency.

Additionally, clients under the FCA and CySEC jurisdictions are covered by compensation schemes. In the UK, clients are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, while in Cyprus, the Investor Compensation Fund (ICF) provides protection of up to €20,000.

About Tickmill

Tickmill was founded in 2014 and has since grown to become a reputable broker with a global presence. The company was established by a team of seasoned traders and finance professionals with a vision to provide a low-cost and transparent trading environment. Over the years, Tickmill has expanded its services and received numerous awards for its trading conditions, customer service, and platform offerings. Its strong regulatory backing and customer-centric approach have made Tickmill a trusted broker among traders worldwide.

Tickmill offers a powerful and flexible trading experience through the globally renowned MetaTrader platforms, including both MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely recognized for their reliability, user-friendly interface, and advanced trading tools, making them suitable for traders of all experience levels. Below is an in-depth look at Tickmill’s trading platforms across different devices:

Mobile Trading Platform

Tickmill’s mobile trading platform is available on both iOS and Android devices, providing traders with the flexibility to manage their trades on the go. The mobile version of MT4 and MT5 offers all the essential features needed for trading, including interactive charts, technical indicators, and various order types. The mobile platform is designed to be responsive and user-friendly, ensuring that traders can quickly and efficiently execute trades from anywhere.

• Full account management

• Real-time quotes and trading

• One-click trading

• Comprehensive charting tools with multiple timeframes

Web Trading Platform

Tickmill’s web trading platform is accessible directly from any web browser, requiring no downloads or installations. The web version of MetaTrader is perfect for traders who need quick access to their accounts from different devices without compromising on features. It offers all the functionalities of the desktop platform, including advanced charting, multiple order types, and access to all available trading instruments.

• No installation required

• Secure and fast access to trading

• Full suite of technical analysis tools

• Supports multiple languages

Desktop Trading Platform

For traders who prefer a more comprehensive and customizable trading experience, Tickmill’s desktop platform (MT4 and MT5) offers the full range of features. The desktop version is ideal for those who engage in more complex trading strategies, such as automated trading using Expert Advisors (EAs) and in-depth technical analysis. The platform supports multiple charts, advanced order types, and backtesting capabilities, making it suitable for professional traders.

• Advanced charting with numerous indicators

• Support for Expert Advisors (EAs) for automated trading

• Customizable interface and workspace

• High-speed execution and reliable performance

Social/Copy Trading

Tickmill supports copy trading through third-party services like Myfxbook Autotrade and Zulutrade. These platforms allow traders to follow and copy the strategies of successful traders automatically. This feature is especially beneficial for beginners who may not have the time or experience to develop their own strategies but still want to participate in the markets.

• Access to a community of experienced traders

• Automated trade copying

• Performance tracking and analytics

• Flexibility to choose from a wide range of strategies

Overall, Tickmill’s trading platforms are robust, versatile, and designed to cater to the needs of all types of traders, from beginners to seasoned professionals. Whether you prefer trading on your desktop, browser, or mobile device, Tickmill ensures that you have a seamless and efficient trading experience.

Tickmill offers a variety of convenient and secure methods for both deposits and withdrawals, catering to the needs of a global client base. The broker ensures that the process is straightforward, with no hidden fees on most transactions. Below is a detailed breakdown of the deposit and withdrawal options, including supported account currencies:

Deposit Methods

Tickmill supports a wide range of deposit methods, including:

• Bank Transfers: Available for all account types, bank transfers are secure but may take 2-5 business days to process.

• Credit/Debit Cards: Visa and MasterCard deposits are processed almost instantly, allowing traders to fund their accounts quickly.

• E-Wallets: Tickmill supports popular e-wallets such as Skrill, Neteller, and Sticpay, offering instant deposit processing.

• Cryptocurrency: Tickmill also allows deposits via Bitcoin, which can be an advantage for crypto enthusiasts.

Withdraw Methods

Tickmill’s withdrawal process is just as seamless as its deposit process, with multiple withdrawal options available:

• Bank Transfers: Withdrawals via bank transfer can take 2-5 business days to process, depending on the bank.

• Credit/Debit Cards: Withdrawals to Visa and MasterCard are typically processed within 1-3 business days.

• E-Wallets: Withdrawals to Skrill, Neteller, and Sticpay are processed within 24 hours, making them the fastest option.

• Cryptocurrency: Bitcoin withdrawals are available, with processing times typically within 24 hours.

Account Currencies

Tickmill supports multiple account currencies, allowing traders to avoid conversion fees when depositing or withdrawing funds. The available base currencies include:

• USD (US Dollar)

• EUR (Euro)

• GBP (British Pound)

• PLN (Polish Zloty)

• SGD (Singapore Dollar)

Deposit and Withdrawal Fees

Tickmill does not charge any fees for deposits or withdrawals, which is a significant advantage for traders. However, traders should be aware that some payment providers or intermediary banks may apply their own charges, particularly for bank transfers. It’s advisable to check with your payment provider for any potential costs.

Processing Times

Tickmill ensures that all deposit and withdrawal requests are processed quickly. While e-wallets and card transactions are usually completed within 24 hours, bank transfers may take a few business days. The broker’s commitment to efficiency ensures that traders have prompt access to their funds, enhancing their trading experience.

Overall, Tickmill’s deposit and withdrawal processes are designed to be user-friendly, fast, and cost-effective, offering traders a hassle-free way to manage their funds.

Tickmill provides a range of research tools and educational resources designed to help traders make informed decisions and improve their trading skills. While the broker’s educational offerings are somewhat basic compared to industry leaders, it still provides valuable content for both beginner and intermediate traders. Below is an overview of the research and educational resources available at Tickmill.

For research, Tickmill offers several useful tools. The economic calendar is a key feature, helping traders track important economic events such as interest rate decisions, GDP releases, and employment reports. This tool is essential for anticipating market movements and adjusting strategies accordingly. Additionally, Tickmill provides regular market analysis and insights from experienced analysts, covering various asset classes including forex, commodities, and indices. These reports offer traders valuable perspectives on market trends.

One standout feature is the integration with Autochartist, a powerful pattern recognition tool that assists traders in identifying trading opportunities based on technical analysis. Autochartist scans the markets in real-time, providing alerts for potential trades based on chart patterns, Fibonacci levels, and key support/resistance levels. Alongside this, Tickmill offers daily market outlooks and news updates that cover the latest developments in the financial markets, helping traders stay informed about market conditions and potential trading opportunities.

When it comes to education, Tickmill provides a variety of resources aimed at enhancing traders’ knowledge. The broker hosts regular live webinars on a range of topics, from basic trading concepts to advanced strategies. These webinars are conducted by experienced traders and analysts, offering a dynamic learning experience. For those who prefer to learn at their own pace, Tickmill offers a selection of video tutorials that cover essential trading topics, which are particularly beneficial for beginners.

Additionally, Tickmill provides downloadable ebooks and trading guides that address a wide array of topics, from forex basics to technical analysis, allowing traders to build a strong foundation in trading. A comprehensive glossary of terms is also available, helping traders familiarize themselves with the key concepts and terminology used in the financial markets.

While Tickmill’s research tools and educational content are useful, they may not be as extensive as those offered by some other brokers. However, the broker’s commitment to providing accessible and practical resources makes it a valuable platform for traders looking to enhance their market knowledge and trading performance.

Tickmill offers a reliable and responsive customer support service that caters to the needs of its global client base. The broker provides multiple channels of communication, ensuring that traders can easily reach out for assistance whenever needed. The support team is known for its professionalism, quick response times, and ability to address a wide range of queries, from technical issues to account-related concerns.

Tickmill’s customer support is available 24/5, aligning with the forex market’s active trading hours. The primary contact methods include:

• Live Chat: Accessible directly from the Tickmill website, live chat is particularly popular due to its convenience and speed. During our testing, the response time was typically under a minute, making it an efficient way to resolve urgent issues.

• Email Support: For more detailed inquiries, email support is available, with response times generally within a few hours during business days. This method is ideal for non-urgent matters that require a thorough explanation.

• Telephone Support: Tickmill provides localized phone numbers for various regions, ensuring that traders can receive assistance in their preferred language and time zone. This option is great for those who prefer direct communication.

In addition to these direct support channels, Tickmill maintains an extensive FAQ section on its website. This section covers a broad range of topics, including account setup, trading conditions, and platform use, making it a valuable resource for traders seeking quick answers without needing to contact support.

Overall, Tickmill’s customer support is efficient and well-equipped to handle a variety of client needs. Whether through live chat, email, or phone, traders can expect prompt and helpful assistance. The broker’s commitment to providing accessible and responsive customer service adds significant value to the overall trading experience.

Account Types

Tickmill offers a variety of account types tailored to meet the needs of different traders, from beginners to seasoned professionals. Each account type provides access to the same high-quality trading environment, including fast execution, low spreads, and robust trading platforms. Below is an overview of the account types available at Tickmill:

Classic Account

The Classic Account is ideal for new traders or those who prefer commission-free trading. This account type offers variable spreads starting from 1.6 pips with no additional commissions on trades. It provides full access to all trading instruments, including forex, indices, commodities, and more. The Classic Account is designed to be straightforward, making it easy for beginners to get started with trading.

Pro Account

The Pro Account is designed for more experienced traders who require tighter spreads and are comfortable paying a small commission per trade. This account offers spreads starting from 0.0 pips with a commission of $2 per side per lot traded. The Pro Account is popular among scalpers and high-frequency traders who need minimal spreads to maximize their trading strategies.

VIP Account

The VIP Account is tailored for high-volume traders who seek the best trading conditions. To qualify for this account, a minimum balance of $50,000 is required. The VIP Account offers the same low spreads as the Pro Account, starting from 0.0 pips, but with an even lower commission rate of $1 per side per lot. This account is ideal for professional traders and institutional clients who demand the lowest possible trading costs.

Islamic Account

Tickmill also offers an Islamic Account option for traders who require swap-free trading in compliance with Sharia law. This account type is available for both Classic and Pro account holders and provides the same trading conditions without overnight interest charges. The Islamic Account is suitable for traders who follow Islamic finance principles.

Demo Account

For those who want to practice trading or test the platform before committing real funds, Tickmill offers a free Demo Account. The Demo Account replicates real market conditions, allowing traders to practice with virtual funds and explore the broker’s features without any financial risk. It’s an excellent tool for beginners to learn the basics or for experienced traders to test new strategies.

Each of these account types is designed to cater to specific trading needs, ensuring that all traders can find an account that suits their style and goals. Whether you are just starting in forex trading or are a seasoned professional, Tickmill’s diverse account offerings provide the flexibility and tools needed to trade effectively.

Opening an account with Tickmill is a straightforward process designed to be quick and user-friendly. The broker has streamlined its registration process to ensure that new clients can start trading as soon as possible. Below is a step-by-step guide on how to open a Tickmill trading account:

Steps to Open an Tickmill Account:

1. Visit the Tickmill Website: Start by navigating to the official Tickmill website. On the homepage, you will find the “Open Account” button, which will direct you to the registration page.
2. Complete the Registration Form: The registration form requires you to provide basic personal information such as your name, email address, phone number, and country of residence. You will also need to create a username and password for your account. Tickmill ensures that all information provided is kept secure and confidential.
3. Verify Your Email: After completing the registration form, Tickmill will send a verification email to the address you provided. Click on the verification link in the email to confirm your account and proceed to the next step.
4. Submit Identification Documents: To comply with regulatory requirements, Tickmill requires you to verify your identity. You will need to upload a copy of a government-issued ID (such as a passport or driver’s license) and proof of address (such as a utility bill or bank statement). The verification process is usually completed within one business day.
5. Choose Your Account Type: Once your identity is verified, you can choose the type of trading account you wish to open—Classic, Pro, VIP, or Islamic. You will also select your base currency (USD, EUR, GBP, etc.) at this stage.
6. Fund Your Account: After selecting your account type, you can proceed to fund your account. Tickmill offers various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Deposits are processed quickly, allowing you to start trading without delay.
7. Start Trading: With your account funded, you are ready to start trading. Log in to your Tickmill account, download the MetaTrader platform (or use the web version), and begin exploring the financial markets.

The entire account opening process at Tickmill is designed to be user-friendly and efficient. Most clients can complete the process and start trading within a day, depending on the speed of document verification. Tickmill’s commitment to a hassle-free registration process ensures that traders can focus on what matters most—trading.

After thoroughly testing and analyzing Tickmill in this broker review, it’s clear that the broker is a top choice for traders who value low costs, fast execution, and a secure trading environment. Tickmill excels in offering tight spreads, particularly on its Pro and VIP accounts, which makes it highly attractive for active traders and scalpers. The broker’s robust regulatory framework, with oversight from authorities such as the FCA and CySEC, provides traders with the peace of mind that their funds are safe.

The range of trading instruments available at Tickmill is extensive, covering everything from forex and indices to commodities and bonds. The use of the MetaTrader 4 and 5 platforms ensures that traders have access to industry-leading tools and features, whether they trade on desktop, mobile, or the web.

While Tickmill offers many strengths, there are a few areas where it could improve, such as expanding its educational resources and developing a proprietary trading platform for more tailored trading experiences. Nonetheless, the broker’s existing offerings are more than sufficient for most traders, especially those who prioritize cost-effective trading and reliable execution.

In conclusion, Tickmill is a well-rounded broker that caters to a wide range of trading styles and experience levels. Its competitive trading fees, comprehensive account types, and strong regulatory backing make it an excellent choice for both beginner and professional traders.

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FAQ

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