In this Tickmill review, we’ll examine its regulation, trading platforms, spread, commission, and other trading fees. Additionally, we’ll evaluate Tickmill’s pros and cons, alongside its other notable trading features.
Tickmill, founded in August 2014 in Mahe, Seychelles, initially started as a MetaTrader platform provider. Since then it has evolved into a versatile multi-asset Forex broker known for its competitive pricing and low-cost solutions. In 2020, it recorded an impressive average monthly trading volume of $142 billion and 115 million transactions, marking its position as one of the fastest-growing brokers.
Tickmill operates under the supervision of six regulatory authorities.
In the tier 1 category, Tickmill falls under the jurisdiction of the UK Financial Conduct Authority (FCA). In Europe, it is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Additionally, it is also regulated by Dubai Financial Services Authority (DFSA), the South African Financial Sector Conduct Authority (FSCA), the Labuan Financial Services Authority (Labuan FSA), and Seychelles Financial Services Authority (FSA).
These regulatory bodies add an extra layer of supervision to ensure compliance with industry standards.
|Seychelles||Financial Supervision Authority (FSA)|
|UK||Financial Conduct Authority (FCA)|
|Dubai||Dubai Financial Services Authority (DFS)|
|Cyprus||Cyprus Securities and Exchange Commission (CySEC)|
|Labuan||Labuan Offshore Financial Services Authority (LOFSA)|
|South Africa||Financial Sector Conduct Authority (FSCA)|
TICKMILL ACCOUNT TYPES REVIEW
Tickmill offers mainly 3 types of accounts. Let’s take a closer look at these account options.
The Pro account comes with tight spreads starting from 0.0 pips, a maximum leverage of 1:500, and a commission of $2 per side per 100,000 traded. Traders can use any trading strategy, and there is an option for a swap-free Islamic Account.
The Classic account offers spreads starting at 1.6 pips, a maximum leverage of 1:500, and zero commissions. Traders have the flexibility to employ any trading strategy, and there is an option for a swap-free Islamic Account.
The VIP account provides competitive spreads starting from 0.0 pips, a maximum leverage of 1:500, and a reduced commission of $1 per side per 100,000 traded.
Additionally, the brokers offers a Swap-free Islamic Account that adheres to Islamic finance principles. This account type is available for all Tickmill accounts, including Classic, Pro, and VIP.
TICKMILL TRADING PLATFORMS REVIEW
Tickmill brings forward a variety of advanced trading platforms. These include the renowned MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Meta Platforms provides essential charting and automation tools while MT5 enhances the trading experience with more indicators and timeframes.
The MetaTrader web platform is also available allowing web-based trading from any device. For Mac users, it provides the special version of MetaTrader for smooth trading on Apple devices. Mobile traders can stay connected with the Tickmill Mobile App which provides real-time quotes and market analysis on smartphones and tablets.
|Mobile Platform (Android/IOS)||Yes|
Tickmill offers different leverage options depending on the product. For Forex trading, the leverage ranges from a minimum of 1:1 to a maximum of 1:500. On commodities, the maximum leverage stands at 1:500. For stocks, indices, and bonds it is set to 1:100. Finally, cryptocurrency traders can utilize leverage up to 1:200.
|FOREX||1:1 - 1:500|
TICKMILL PRODUCTS REVIEW
Tickmill has a reasonable list of trading assets spanning various asset classes. It offers access to over 60 currency pairs 15+ stock indices, bonds commodities including crude oil, natural gas, and metals like silver and copper.
Traders can also engage in cryptocurrency trading with nine major cryptocurrencies, including Bitcoin and Ethereum.
Tickmill offers competitive spreads across different asset classes. In Forex, spreads on major currency pairs starts from 0.1 pips and goes up to 6.5 for minor currency pairs. For stock indices, spreads start from 0.39, whereas, on commodities, the minimum spread starts from 0.0021 and goes up to 0.04. In the bond market, the spread ranges from 0.042 to 0.018, and in cryptocurrencies, it is between 0.002 to 24.9.
|Forex||0.1 - 6.5|
|Stock Indices||0.39 - 17.74|
|Commodities||0.0021 - 0.04|
|Bonds||0.042 - 0.018|
|Crypto||0.002 - 24.9|
TICKMILL TRADING FEES
Tickmill has a transparent commission structure that aligns with the benefits of tight spreads and a cost-effective trading environment.
Pro accounts have a commission of $2 per side per standard lot. On the other hand, the classic accounts have zero commission charges.
For VIP accounts, Tickmill charges a commission of $1 per side per Standard lot.
Tickmill offers a range of convenient deposit and withdrawal methods to facilitate transactions.
Traders can deposit and withdraw funds using bank transfers in multiple currencies without any charges. The minimum deposit amount is $100 and the minimum withdrawal amount is $25.
Tickmill supports cryptocurrency payments with no associated charges. Withdrawals via crypto are processed within one working day.
Traders can also use debit or credit cards to fund their accounts. Deposits made with cards are processed instantly. Withdrawals via cards are typically processed within one working day.
Finally, Tickmill also supports deposits and withdrawals using popular e-wallets such as Skrill and Neteller.
In our review of Tickmill, it emerges as a strong and trustworthy player in the brokerage industry. It offers various account types, tight spreads, and a transparent commission structure. As a regulated entity, it offers client protection and adheres to industry standards. However, the addition of another tier 1 regulator would further bolster its credibility.
On the flip side, the absence of a proprietary trading platform is noticeable. Additionally, its product range and educational resources are also limited. Nonetheless, competitive spreads, and hassle-free deposit and withdrawal methods, combined with a strong customer experience, make Tickmill a substantial choice for both newcomers and seasoned traders.
Lets now have a look at Tickmill’s pros and cons.
|Multi Asset||Limited Education|
|Multi Regulated||Limited Trading Instruments|
|Low Minimum Deposit||No Proprietary Platform|
FREQUENTLY ASKED QUESTIONS ABOUT TICKMILL
Yes, Tickmill is regulated by six authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
Tickmill offers three main account types: Pro, Classic, and VIP.
Tickmill supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and has a mobile app for both Android and iOS devices.
For Forex trading, Tickmill offers leverage ranging from 1:1 up to 1:500.
Pro accounts are charged $2 per side per standard lot, VIP accounts are charged $1 per side per standard lot, and Classic accounts have zero commission.
Tickmill supports bank transfers, credit/debit cards, cryptocurrency payments, and e-wallets like Skrill and Neteller.
Tickmill’s minimum deposit requirement is $100.