Tickmill Review

Overall, Tickmill can be summarised as a trustworthy and highly regulated online Forex and CFD brokerage that is committed to cost-effectiveness with access to tight spreads and a low commission structure.  Furthermore,  Tickmill has a trust score of 83 out of 99.

Tickmill Review – Analysis of Brokers’ Main Features

1. ☑️ Overview
2. ☑️ Detailed Summary
3. ☑️ Safety and Security
4. ☑️ Account Types
5. ☑️ How To Open an Account
6. ☑️ Trading Platforms and Software
7. ☑️ Fees, Spreads, and Commissions
8. ☑️ Which Markets Can You Trade?
9. ☑️ Leverage and Margin
10. ☑️ Deposit and Withdrawal
11. ☑️ Educational Resources
12. ☑️ Pros and Cons
13. ☑️ In Conclusion
14. ☑️ Frequently Asked Questions

Overview

Thanks to its solid regulatory foundation and highly competitive trading terms, Tickmill attracts clients from all over.  It undergoes severe scrutiny from regulatory bodies such as the UK’s Financial Conduct Authority (FCA) to ensure it maintains adherence to high ethical standards.

Traders are invited to experience a diverse trading environment where forex, stock indices, precious metals, and other assets can be traded on advanced platforms such as MetaTrader 4 and MetaTrader 5.

Tickmill is committed to cost-effectiveness, as evidenced by its tight spreads and low commission structure. This commitment is particularly evident in its Pro and VIP accounts, which aim to increase traders’ profits significantly.

Detailed Summary

Can I trade cryptocurrencies with Tickmill?

Tickmill trades cryptocurrencies, FX, stock indices, and other products.

What is the background of Tickmill’s founders?

Tickmill was created in 2014 by brothers Ingmar and Illimar Mattus, seasoned forex industry veterans prioritizing transparency and client protection.

Safety and Security

Being a licensed firm follows the high regulatory criteria set by many financial regulators, including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).

These regulations ensure that Tickmill acts with honesty, transparency, and in the best interests of its customers.

The broker tries to protect client cash by separating client accounts from the company’s operational funds. This separation is critical to ensuring that clients’ funds are not used for any other purpose and are accessible for withdrawal at any moment.

How does Tickmill ensure the security of my personal information and funds?

Tickmill uses SSL encryption, separates customer funds from its operational funds, and is regulated by major regulatory bodies.

Are my funds protected under a compensation scheme with Tickmill?

Yes, where available, Tickmill participates in financial services compensation schemes to provide further security for clients’ cash.

Account Types

Pro Account

The Tickmill Pro account is designed for retail traders seeking cost-effective trading, especially in forex pairs. It has a minimum deposit requirement of $100 and competitive pricing with spreads as low as 0.0 pips.

The account charges only $2 per side per 100k traded. It is available in various base currencies, including USD, EUR, GBP, and PLN, allowing traders to adapt across different geographical locations.

Seychelles traders can leverage their positions up to 1:500, while UK and Cyprus clients have more conservative leverage limits. The account has a minimum trade size of 0.01 lots, allowing for precision in trading strategies and compatibility with expert advisors.

The account offers an Islamic swap-free variant for traders with religious sensitivities, ensuring compliance with Islamic finance principles and providing better access to the financial markets.

Classic Account

The Classic account is well-suited for novice traders who wish to avoid additional commissions. Similar to the Pro account, it necessitates a minimum deposit of $100 and accommodates various base currencies.

With spreads commencing at 1.6 pips, it aligns seamlessly with its commission-free approach. Leverage options closely mirror those available in the Pro account, with select countries granted access to leverage possibilities of up to 1:500.

Furthermore, there is no prerequisite for a minimum balance, ensuring accessibility. You only require a modest initial funding, typically a few dollars, to commence trading or investing in assets such as stocks.

Traders employing this account type can employ various methods without limitations, and an Islamic option is available to adhere to Sharia standards. Lastly, it is noteworthy that the smallest trade size remains consistent at 0.01 lots.

VIP Account

Tickmill’s VIP account caters to seasoned traders who engage in high-volume transactions, mandating a minimum balance of $50,000.

Distinguishing itself with an extremely competitive spread starting at 0.0 pips, this account also imposes low commission fees of just $1 per side on transactions valued up to 100,000 units.

It offers a selection of base currency options comparable to other account types and boasts customizable leverage ratios to conform to varying jurisdictional prerequisites.

Demo Account

The Demo account is a secure and risk-free introduction to Tickmill’s trading environment, allowing users to familiarize themselves with the platform without exposing their finances to potential risks. It allows users to test their trading strategies using virtual funds in a real-life trading scenario.

The demo account does not have an expiration date, providing continuous access to a learning environment for honing trading skills.

Islamic Account

Tickmill also offers an Islamic Account that follows Sharia law and eliminates swap fees. Muslim traders can enjoy the same terms as regular accounts, except for a handling fee if they keep positions open for more than three consecutive nights.

This enables Muslim traders to actively participate in financial markets while conforming to Islamic finance standards.

What exclusive features does Tickmill’s VIP Account offer?

Tickmill’s VIP Account provides individual client service, market information, and minimal commission rates starting at $1 per side, per standard lot.

Can I open a swap-free account with Tickmill if I need to comply with Sharia law?

Tickmill provides an Islamic swap-free option for all account types, catering to traders who follow Islamic financial principles.

How To Open a Tickmill Account

• To register an account with Tickmill and start trading, follow these steps:
• Go to the Tickmill website and click “Create Account.“
• Select your preferred account type (classic, pro, or VIP).
• Complete the registration form with your personal information.
• Set your login information (username and password).
• Accept the terms and conditions, then click “Create Account.”
• Upload scanned copies of your evidence of identity and proof of address.
• Select your desired deposit method.
• Deposit the minimum amount required for your selected account type.
• Once your account has been verified and financed, you can access your trading dashboard using the MetaTrader 4 or 5 platform.

What is the process for registering an account with Tickmill?

To register with Tickmill, go to their website, select your preferred account type, enter your personal information, and submit the required identity documents for verification.

Are there any specific documents required to open an account with Tickmill?

To open an account with Tickmill, you must provide proof of identity (such as a passport or driver’s license) and proof of address.

Trading Platforms and Software

MetaTrader 4

The MT4, or MetaTrader 4, is a widely trusted trading platform known for its user-friendly design and advanced tools for successful online trading.

The popularity of this software can be attributed to its impressive speed in executing trades, versatile charting capabilities, powerful algorithmic trading options, and adaptability that enables traders with different needs to customize the platform accordingly.

Tickmill offers clients the core edition of MT4, in which they can extend features at additional costs depending on their preferences while allowing them to tailor it towards achieving optimal results according to their strategies.

While some may consider parts of MT4’s interface outdated and requiring time spent learning how certain functions work, it still presents considerable value through access to fundamental order types, including Market orders, Limit Orders, and Stop orders, among others, suitable across regions where many brokers operate from all over the world

MetaTrader 5

MT5 is a trading platform introduced in 2010 with advanced features, making it particularly appealing to algorithmic strategy creators.

It offers enhanced back-testing capabilities, automation options, and a built-in news feed and economic calendar for market events and decision-making. MT5 also allows traders to execute trades directly from chart displays, enhancing the trading experience.

Tickmill demonstrates its commitment to innovation by offering clients the regular edition of MT5 without overwhelming them with unnecessary complexities or redundant features. This approach caters to specific needs, making MT5 an attractive choice for experienced professionals seeking high-end instruments and a broader market scope.

Mobile App

Tickmill’s mobile trading application offers a user-friendly platform for managing account functions, including equity monitoring, balance tracking, and real-time deposit and withdrawal. It uses biometric authentication methods like fingerprint or facial recognition, ensuring security.

The application also provides document management and live chat support services. Its focus on ease of use makes it an excellent choice for contemporary traders who prioritize accessibility and simplicity.

In addition, Tickmill’s mobile app is a great option for those seeking to manage their financial matters while on the move efficiently.

Which trading platforms are available with Tickmill?

Tickmill offers the popular MetaTrader 4 and MetaTrader 5 platforms and the Tickmill mobile app for trading on the go.

Can I use automated trading strategies with Tickmill’s platforms?

Tickmill’s MetaTrader 4 and MetaTrader 5 platforms provide automated trading techniques using Expert Advisors.

Tickmill Fees, Spreads, and Commissions

Spreads

Tickmill charges spreads are designed to accommodate different trading styles and account types. The Pro and VIP accounts have highly competitive spreads, starting at 0.0 pips, which cater to traders seeking accuracy and cost-effectiveness in their trades.

On the other hand, the Classic account has a higher spread of 1.6 pips but provides commission-free trading — perfect for beginner traders or those who prefer simpler pricing schemes.

These varying spreads highlight Tickmill’s commitment to delivering accessible trading conditions across an extensive range of financial products.

Commissions

Tickmill’s commission structure is straightforward: the Classic account is commission-free, while the Pro and VIP accounts have low fees of $2 and $1 per side for each normal lot traded, respectively.

This structure benefits active traders by considerably lowering trading costs, particularly with the VIP account geared toward higher-volume trading.

Overnight Fees, Rollovers, or Swaps

Swaps or overnight fees are common in Forex trading and indicate the cost of keeping a trade open after the daily cut-off period. Tickmill calculates its swaps using interbank interest rates, aligning with industry standards.

These rates are applied transparently, triple swaps being payable on certain weekdays to account for weekends – standard practice among brokers. Swap rates can be credited or debited from their account depending on the direction of a trader’s trade and currency pairing interest rate differential.

Deposit and Withdrawal Fees

Tickmill distinguishes itself by not charging deposit or withdrawal fees, which increases the broker’s appeal by lowering overall customer costs.

Inactivity Fees

Tickmill does not charge any inactivity fees on dormant accounts. Furthermore, the lack of inactivity fees means that traders are not penalized for taking a break from trading operations.

Currency Conversion Fees

Currency conversion fees apply if traders fund their accounts in a currency other than the available base currencies, which is a common industry practice that covers currency exchange risks and costs.

How competitive are Tickmill’s spreads?

Tickmill provides tight spreads starting at 0.0 pips on the Pro and VIP Accounts, which are competitive in the industry.

Does Tickmill charge any inactivity fees?

No, Tickmill does not charge inactivity fees on its customers’ accounts.

Which Markets Can You Trade?

Tickmill offers the following trading instruments and products:

• 62 currency pairings
• 23 Indices
• 3 energy contracts
• 4 precious metals
• 4 bond instruments

A selection of eight cryptocurrencies allows traders to participate in the digital currency market. Despite being a relatively young asset class, cryptocurrencies have considerable volatility and the potential for large rewards.

How many currency pairs can I trade with Tickmill?

Tickmill provides a wide variety of 62 currency pairs, including major, minor, and exotic.

Besides forex, what other instruments does Tickmill offer for trading?

Tickmill offers stock indexes, precious metals (gold and silver), energy futures, and bonds.

Leverage and Margin

Tickmill, similar to many forex brokers, offers leverage as a tool that magnifies both your potential gains and risks. Leverage enables you to manage a bigger position than the balance in your account by essentially “borrowing” from the broker for opening trades. For instance, with 1:100 leverage, an account of $1,000 can trade up to $100,000 worth of EUR/USD.

This is appealing since it boosts prospective revenues. Remember, nevertheless, that it magnifies losses. A minor price movement against you can wipe out your entire investment if not handled appropriately.

The margin functions as a deposit for your transactions, reserving a portion of your account balance to cover potential losses. The required margin, a percentage of the trading amount, fluctuates based on the instrument and leverage used. If you wish to trade in USDJPY using a 10,000 USD mini lot with 5% needed for margins, then $500 must be available in your account.

Tickmill’s margin call and stop-out limits help minimize risk. If your account equity falls below a specific threshold due to losses (30% of the required margin in the example), the system will close your positions to prevent future losses. It protects your account from complete depletion.

What leverage can I use with Tickmill?

Tickmill provides leverage of up to 1:500 for clients registered in the Seychelles jurisdiction, with different leverage restrictions for other regulatory jurisdictions.

How does Tickmill protect clients from negative balance risks associated with leverage?

Tickmill has margin call and stop-out limits to protect clients from losing more than their initial investment, hence mitigating negative balance risks.

Tickmill Deposit and Withdrawal

Deposit Options:

Bank Wire

• Log into your Tickmill Client Area.
• Click “Deposit” in the right-side panel or on the navigation tab.
• Choose “Bank Wire” as your deposit method.
• Select your preferred currency and indicate the deposit amount.
• Review the provided bank information and confirm the transaction.
• Send your wire transfer through your bank’s online platform or by going to a branch. Please specify the reference number mentioned in your deposit confirmation.

Credit or Debit Card

• Log in to your Client Area.
• Click “Deposit” and then choose “Credit/Debit Card.”
• Enter your card information securely, including name, number, expiry date, and CVV code.
• Select your desired currency and enter the deposit amount.
• Review the information and click “Make Payment.”
• Verify the transaction using your bank’s authentication system (such as an SMS code).

Cryptocurrency Wallets

• Log into your Client Area.
• Click “Deposit” and choose your preferred cryptocurrency (e.g., Bitcoin or Ethereum).
• Tickmill will provide a unique cryptocurrency address for your deposit.
• Open your cryptocurrency wallet and transfer the necessary amount to the given address.
• Following network confirmation, monies will be automatically credited to your Tickmill account.

e-wallets or Payment Gateways

• Log into your Client Area.
• Click “Deposit” and select your preferred e-wallet or payment gateway (Skrill, Neteller, or Visa/Mastercard).
• Enter your login information for your preferred payment provider.
• Specify the deposit amount and currency.
• Follow the on-screen instructions to authorize the transaction within your e-wallet or payment gateway platform.

Withdrawal Options:

Bank Wire

• Log into your Tickmill Client Area.
• Click “Withdraw” on the right-side panel or the navigation tab.
• Select the account from which you want to withdraw funds.
• Select “Bank Wire” as your withdrawal method.
• Tickmill will display the bank information for the wire transfer.
• Ensure that your name, account number, and bank address match the information supplied.
• Depending on the amount you withdraw and the requirements, you may be required to present additional documents for verification. Tickmill will process your withdrawal request within 24 hours of approval. Your bank’s processing timeline determines the exact crediting time.

Credit or Debit Card

• Log into your Tickmill Client Area.
• Click “Withdraw” on the right-side panel or the navigation tab.
• Select the account from which you want to withdraw funds.
• Select “Credit/Debit Card” as the withdrawal method.
• Enter your card information securely, including name, number, expiry date, and CVV code.
• The withdrawal amount will be reimbursed back to the card used for the initial deposit up to the amount deposited. Any remaining withdrawal amount will be processed using your preferred alternative method.

Cryptocurrency Wallets

• To withdraw cryptocurrency from your Tickmill wallet, log into your Client Area.
• Click “Withdraw” on the right-side panel or the navigation tab.
• Select the account from which you want to withdraw funds.
• Choose your desired cryptocurrency (such as Bitcoin or Ethereum).
• Enter the receiving address for your cryptocurrency wallet.
• Tickmill will conduct your withdrawal request within 24 hours of approval. The real-time it takes to credit your wallet depends on blockchain network confirmation.

e-wallets or Payment Gateways

• To withdraw, log in to your Tickmill Client Area.
• Click “Withdraw” on the right-side panel or the navigation tab.
• Select the account from which you want to withdraw funds.
• Choose your preferred e-wallet or payment gateway (Skrill, Neteller, or Visa/Mastercard).
• Enter your login information for your preferred payment provider.
• The withdrawal amount will be transferred to your e-wallet or payment gateway account after 24 hours of approval.

What are the available deposit methods at Tickmill?

Tickmill accepts various deposit methods, including bank transfers, credit/debit cards, e-wallets such as Skrill and Neteller, and cryptocurrency transactions.

How can I withdraw funds from my Tickmill trading account?

Withdrawals from Tickmill can be made using the same methods as deposits, including bank wires, credit cards, and e-wallets, and are typically processed within 24 hours.

Educational Resources

• Tickmill offers a plethora of information through its webinars, delivered by qualified experts. Additional resources on offer include:
• Seminars
• Digital eBooks
• Forex Glossary
• Tips and Tools

Through its analysis blog and research team, Tickmill keeps traders updated on market conditions and trading opportunities. This content provides traders with several forms to ingest information, including charts, videos, and written pieces.

What kind of educational resources does Tickmill offer to traders?

Tickmill offers a variety of instructional resources, including webinars, seminars, eBooks, video lessons, and detailed market analysis.

Are Tickmill’s educational materials suitable for all levels of traders?

Yes, Tickmill’s training tools are designed for newbie traders and seasoned pros, including learning materials for all experience levels.

Pros and Cons

	Broker	Review	Regulators	Min Deposit	Website
🥇		Read Review	ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA	USD 100	Visit Broker
🥈		Read Review	FSCA, IFSC, ASIC, CySEC, DFSA, FCA	USD 5	Visit Broker
🥉		Read Review	FCA, FSCA, FSC, CMA	USD 200	Visit Broker
4		Read Review	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB	USD 200	Visit Broker
5		Read Review	FSC, FSA, VFSC	USD 10	Visit Broker
6		Read Review	CySEC, MISA, FSCA	USD 25	Visit Broker
7		Read Review	CySEC, FCA, FSA, FSCA, Labuan FSA	USD 100	Visit Broker
8		Read Review	CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA	USD 10	Visit Broker
9		Read Review	ASIC, CySEC, FSCA, CMA	USD 100	Visit Broker
10		Read Review	IFSC, FSCA, ASIC, CySEC	USD 1	Visit Broker

In Conclusion

In our experience, Tickmill is a prominent forex and CFD broker that caters to a wide spectrum of traders through its numerous account options, reasonable spreads, and commission structures.

Its adherence to strict regulatory standards in many jurisdictions fosters trust and indicates a dedication to trader security and ethical financial operations.

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