What is Tickmill？
Tickmill is a global forex and CFD broker established in 2014, headquartered in London, UK. The broker is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Seychelles Financial Services Authority (FSA). Tickmill offers trading in forex, indices, commodities, and shares, and provides clients with a choice of three trading accounts, which are the Classic account, the Pro account, and the VIP account. The minimum deposit requirement is $100 for the Classic account and $50,000 for the VIP account. Tickmill also offers MetaTrader4 and 5 platforms for trading, as well as a range of trading tools and educational resources.
What Type of Broker is Tickmill？
Tickmill operates as a no dealing desk (NDD) broker. This means that the broker doesn't take the other side of clients' trades but instead passes them on to liquidity providers. Tickmill offers both retail and institutional trading services and provides access to a wide range of financial instruments. They also offer various trading platforms and account types to suit different trading styles and needs.
Pros & Cons
Tickmill is a reputable and reliable broker that offers competitive trading conditions and a wide range of trading instruments. Its low spreads and fees, multiple account types, and various trading platforms are attractive to traders of all levels.
However, the limited product offerings for cryptocurrency trading and the lack of educational materials may be a disadvantage for some traders. Also, Tickmill is not available for traders in certain countries, which may limit its accessibility for some users.
Nonetheless, its overall transparency, security, and quality of service make it a popular choice among traders worldwide.
Is Tickmill Safe or Scam？
Tickmill is a regulated broker that holds licenses from respected financial authorities, such as the FCA, CySEC, and the Seychelles FSA. This indicates that they comply with the required regulations and standards to provide financial services to their clients. Additionally, Tickmill has been in operation since 2015 and has gained a good reputation in the industry, which suggests that they are a legitimate broker.
How are you protected？
Tickmill uses segregated accounts to keep client funds separate from its operational funds, which provides an additional layer of protection in case of the company's insolvency.
Tickmill also uses advanced security protocols and encryption technology to protect clients' personal and financial information.
The company also offers negative balance protection, which ensures that clients cannot lose more than their account balance, and it has a compensation scheme in place that can provide additional protection to eligible clients in case of the company's insolvency.
More details can be found in the table below:
Note that this table is not exhaustive and there may be other protections or security measures in place at Tickmill.
Our Conclusion on Tickmill Reliability:
Based on the information available, Tickmill appears to be a reliable and trustworthy broker. It is regulated by reputable authorities, has been in operation for several years, and has received positive reviews from many customers.
However, as with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.
Market Instruments
Tickmill offers a variety of trading instruments across different asset classes, including:
Forex: More than 60 currency pairs, including majors, minors, and exotics.
Stock indices: CFDs on global stock indices such as US 500, UK 100, and Japan 225.
Commodities: Spot CFDs on metals like gold and silver, energy products such as oil and gas, and agricultural products like wheat and corn.
Bonds: CFDs on government bonds like US 10-year Treasury Note and Euro Bund.
Cryptocurrencies: CFDs on popular digital currencies such as Bitcoin, Ethereum, and Litecoin.
Accounts
Tickmill offers its clients a range of account types designed to suit different trading styles and preferences. Here are the account types available at Tickmill:
Classic Account: The Classic Account is suitable for new traders who want to experience real trading conditions with a low deposit.
Pro Account: The Pro Account is designed for more experienced traders who require tighter spreads and lower trading costs.
VIP Account: The VIP Account is suitable for high net worth individuals and institutional traders who require premium trading conditions.
The minimum deposit requirement is $100 for Classic and Pro accounts while not specified on the VIP account.
All account types at Tickmill offer access to the same range of trading instruments, including Forex, CFDs, and commodities. Additionally, all accounts can be opened as Islamic accounts, which are swap-free accounts for traders who follow Sharia law.
Margin & Leverage
The margin carries a requirement of 0.2%, and it is the amount of minimum deposit money that the user needs to make to conduct leveraged trading in the financial market. The required margin is estimated by multiplying the size of the position by the margin requirement. Upon closing the Tickmill trading position, the margin amount gets credited back to the account of the users.
Tickmill offers different maximum leverage levels depending on the account type and the instrument traded. The maximum leverage available for forex trading is 1:500 for professional clients and 1:30 for retail clients. For CFDs on indices and commodities, the maximum leverage is 1:200 for professional clients and 1:20 for retail clients.
It's important to note that higher leverage levels increase the potential profits but also increase the potential losses, so it's important to use leverage carefully and manage risk appropriately.
Spreads & Commissions
Tickmill offers different account types with different spread and commission structures. Specifically, clients on the Classic account have spread from 1.6 pips with no commission charged, the Pro account has spread from 0.0 pips with a commission of 2 per side per 100,000 traded, and the VIP account has spread from 0.0 pips with a commission of 1 per side per 100,000 traded.
Below is a comparison table about spreads and commissions charged by different brokers:
Note: Spreads can vary depending on market conditions and volatility.
Trading Platforms
Tickmill offers several trading platforms for its clients, including:
MetaTrader 4 (MT4): This is a popular trading platform among forex traders due to its advanced charting capabilities, numerous technical indicators, and ability to run automated trading strategies.
MetaTrader 5 (MT5): This is an upgraded version of MT4, offering additional features such as more timeframes, depth of market, and the ability to trade other instruments such as stocks and commodities.
WebTrader: This is a browser-based platform that allows clients to trade directly from their web browser without needing to download any software.
Tickmill Trader: This is a proprietary platform developed by Tickmill, offering a user-friendly interface, advanced charting tools, and the ability to trade directly from charts.
Overall, Tickmill's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Deposits & Withdrawals
Another crucial factor while selecting a Forex broker is to see how to transfer money to or from your trading account. Obviously, regulated brokers adhere to best practices and are regulated by their authority in terms of money management.
Tickmill offers various deposit and withdrawal methods to its clients. The available methods may vary depending on the client's country of residence. Here are the most common methods:
Payment Options:
Tickmill does not charge any fees for deposits or withdrawals. However, clients are advised to check with their payment providers for any transaction fees that may apply at their end. Most deposits are instant, while the typical withdrawal processing time is within 1 working day.
Minimum deposit requirement
As we have mentioned before, the minimum deposit with Tickmill is $/€/£100 for the Classic and Pro accounts, while the higher-grade VIP accounts will require more money of up to $/€/£50,000, as designed for traders with experience.
Tickmill minimum deposit vs other brokers
Tickmill Money Withdrawal
To withdraw funds from your Tickmill account, you need to follow these steps:
Step 1: Log in to your Tickmill Client Area.
Step 2: Select the “Withdraw Funds” option under the “Deposit & Withdraw” tab.
Step 3: Choose the payment method you want to use for withdrawal.
Step 4: Enter the amount you wish to withdraw.
Step 5: Fill out any necessary information related to your selected payment method.
Step 6: Submit your withdrawal request.
Once your withdrawal request is approved, the funds will be transferred to your selected payment method.
Fees
Tickmill does not charge deposit and withdrawal fees, but fees may be incurred by the payment method used. Also, inactivity fees of $10 per month are charged on accounts that have been inactive for over six consecutive months.
Customer Service
Tickmill offers customer support services to its clients via various channels, including email, phone, live chat, and social media. The broker has a multilingual customer support team that provides assistance in several languages, including English, Spanish, Italian, Chinese, and more.
Tickmill's customer service has received positive feedback from traders for its prompt and helpful responses. The broker also provides an extensive FAQ section on its website, which addresses various queries related to trading, accounts, and other services.
One of the notable aspects of Tickmill's customer support is the availability of personalized account managers for VIP clients. These managers provide specialized support and advice to help clients make better trading decisions.
Overall, Tickmill's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Note: These pros and cons are subjective and may vary depending on the individual's experience with Tickmill's customer service.
Education
Tickmill offers various educational resources to its clients, including webinars, video tutorials, eBooks, and articles. The broker also provides a detailed economic calendar and market analysis to help traders stay informed about market developments.
Tickmill's educational offerings have received positive reviews from traders, who appreciate the range of resources available and the quality of the content. However, some traders have noted that the educational materials may be more geared towards intermediate or advanced traders, and beginners may find it difficult to navigate.
In summary, Tickmill's education resources can be seen as a strength, as the broker offers a wide range of educational materials to help traders improve their skills and knowledge. However, there may be room for improvement in terms of catering to traders of all levels, particularly beginners.
Conclusion
Overall, Tickmill is a good option for traders who are looking for a reliable and transparent broker with competitive trading conditions. Some of the advantages of Tickmill include its strong regulatory framework, low trading fees, a wide range of trading instruments, multiple trading platforms, and excellent customer support.
It is particularly suitable for experienced traders who are looking for a broker that provides access to a variety of markets and trading instruments, as well as competitive trading conditions. Additionally, Tickmill's demo account allows traders to test their strategies and trading skills before investing real money.
Frequently Asked Questions (FAQs)
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