Tickmill Review

Author By Jeffrey Cammack
Updated: May 10, 2021
Overall Rating
4.12 4.12 / 5
Rated #15 of 59 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 6
Website Language
English, Malay, Polish, Indonesian, Arabic, Thai, Chinese, Vietnamese, Portuguese
Support Language
English, Malay, Polish, Indonesian, Arabic, Thai, Chinese, Vietnamese, Portuguese
AlertAccepts South African Clients. Average spread EUR/USD 0.20 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

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Summary

A well-regulated STP broker, Tickmill offers trading on Forex, stocks, indices, oil, precious metals, and bonds.  Tickmill’s entry-level account offers comparatively poor trading conditions, with a minimum deposit of 100 USD, and spreads as wide as 1.6 pips; but makes up for it with competitive trading costs on the Pro and VIP accounts, alongside excellent educational and market analysis materials. The lack of dealing desk intervention for all accounts removes any concern over conflict of interest.

Furthermore, Tickmill does not charge any withdrawal or deposit fees and allows hedging, scalping, and copy trading.  Tickmill’s downfall is that it only offers support for the MT4 trading platform and has a limited selection of tradable assets.

Reviews

Regulation
111104/ 5
Trading Conditions
111115/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses
$30 Welcome Bonus

Account Information

Base Currencies
USD, EUR, GBP, PLN
Number of FX Pairs
60+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0 pips
Commission
4 USD / lot - Pro Account
EUR/USD
0.2 pips
GBP/USD
0.9 pips
USD/JPY
0.6 pips
Max. Leverage
500:1

Company Details

Company Name
Tickmill Ltd
Founded
2014
Website
Office Locations
Eden Island, Mahe

Pros

  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
  • Wide range of assets

Cons

  • MT4 only

Is Tickmill safe?

Established in 2014 and headquartered in London, Tickmill is authorised by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority of South Africa (FSCA), the Financial Services Authority of Labuan Malaysia, and the Seychelles Financial Services Authority (FSA).  See below for a list of Tickmill company registrations:

  • Tickmill UK Ltd is regulated by the Financial Conduct Authority, 3rd Floor, 27 – 32 Old Jewry, London EC2R 8DQ, England Register number: 717270.
  • Tickmill Europe Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission, Kedron 9, Mesa Geitonia, 4004 Limassol, Cyprus. Licence number: 278/15.
  • Tickmill Asia Ltd is authorised and regulated by the Labuan Financial Services Authority, Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca-Ranca, 87000 F.T. Labuan, Malaysia. Licence number: MB/18/0028.
  • Tickmill South Africa (Pty) Ltd is authorised and regulated by the Financial Sector Conduct Authority (FSCA), The Colosseum, 1st floor, Century Way, Office 10, Century City, 7441, Cape Town. Licence number: FSP 49464.
  • Tickmill Ltd Seychelles regulated by the Financial Services Authority of Seychelles and its 100% owned subsidiary Procard Global Ltd, UK registration number 09369927.

Tickmill’s quality and popularity amongst traders have been noticed and rewarded by its industry peers.  In recent years the company has won awards for Best CFD Broker Asia 2019 (International Business Magazine), Best Forex CFD Provider 2019 (Online Personal Wealth Awards), Best Forex Execution Broker 2018 (UK Forex Awards), and the Best Forex Trading Conditions 2017 (UK Forex Awards).  Furthermore, Tickmill was a recipient of the Most Trusted Broker 2017 (Global Brands Magazine) for its competitive and fair pricing environment.

Lastly, all client funds are held in segregated accounts with top-tier banks and are afforded Negative Balance Protection.   On this basis, we deem Tickmill to be a trustworthy and safe broker.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
CySEC
FCA
FSCA
FSA-Seychelles
STP
2014
Eden Island, Mahe

Investment Offering

Tickmill offers a variety of different CFDs to trade including Forex. 

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Fx Pairs
CFD Investments
60+
Cryptocurrencies
Forex
Indicies
Metals
Equities
Bonds
WTIs

Trading Conditions

An ECN/STP broker, Tickmill offers trading on 62 Forex pairs in addition to CFDs on stock indices, metals, and bonds, without any dealing desk interference. Offering three live accounts denominated in three different currencies, including EUR, GBP, and USD, clients have access to leverage of up to 500:1.  The lowest minimum deposit is 100 USD, and minimum trades start at 0.01 lots.  Spreads are tight on its two ECN accounts, starting at 0.0 pips, but are significantly wider on its Classic Account at 1.6 pips.  Tickmill allows hedging, scalping, and copy trading.  No inactivity fees are charged on dormant accounts.

Tickmill offers Islamic swap-free accounts, but when a position is held open for more than three consecutive trading days (including weekends), an Islamic account is subject to charges on exotic currency pairs.

Account Types

Tickmill offers three different live accounts in addition to the demo account. While trading conditions improve with the account type, the main differentiating factor is the initial deposit required.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Classic
USD 100
500:1
1.60
None
Account Details
Pro
USD 100
500:1
0.0
Variable
Account Details
VIP
USD 50000
500:1
0.0
Variable
Account Details

Classic Account

This commission-free entry-level account requires a minimum deposit of 100 USD.  Fees are included in the spreads, which start at 1.6 pips on the EUR/USD, and traders can access leverage of up to 500:1.  Minimum transaction levels are at 0.01 lots.

Pro-Account

This account requires a 100 USD minimum deposit and is the entry-level account for professional traders. Tight variable spreads (starting at 0 pips) are available in exchange for a commission of 4 USD (round turn) per 1 lot, and clients can access leverage of up to 500:1.  Furthermore, stop and limit levels for Pro account users are zero.

VIP Account

With excellent trading conditions, this account is for high-volume professional traders and requires a 50,000 USD minimum deposit. The commission is reduced to 4 USD (round turn) per lot, and leverage is up to 500:1, making trading even more profitable.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111115/ 5
USD, EUR, GBP, PLN
0.20 pips
USD 6
0.2 pips
0.9 pips
0.6 pips
4
11110.54.5/ 5
USD, EUR, GBP, JPY, PLN, CZK
1.10 pips
USD 11
0.2 pips
0.4 pips
0.2 pips
0.0
111115/ 5
USD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD
0.10 pips
USD 7
0.1 pips
0.2 pips
0.1 pips
6

Demo Account

Demo accounts allow prospective traders to practice trading in real-time.  One can test tools and strategies and sharpen trading skills completely risk-free.  New traders can also explore the full suite of customisable tools and features that the MT4 platform offers to enhance trading performance.  A demo account will only expire if there is no login for seven consecutive days.

Tickmill Account Types

Spreads and Commissions

The minimum spread on the Classic Account is 1.6 pips with zero commission. Minimum spreads on the Pro and VIP accounts start at 0.0 pips with a commission of 4 USD/lot per side, and 1 USD/lot per side, respectively.

Deposit and Withdrawal Fees

As a well-regulated broker, Tickmill ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source.  Tickmill offers commission-free deposit and withdrawal options that can be performed on the broker’s trading platform. See below for details:

  • Visa/Mastercard: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/EUR/GBP.
  • Bank transfers: Deposits and withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/EUR/GBP.
  • Neteller/Skrill: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/EUR/GBP.
  • STICPAY: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/EUR/GBP.
  • Fasapay: Deposits are instant and processed within 1 – 2 hours.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/IDR.
  • UnionPay: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in CNY.
  • NganLuong.vn: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in VND.
  • QIWI: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/RUB/GBP.
  • WebMoney: Deposits are instant and free.  Withdrawals are free and are processed within one day.  The minimum withdrawal amount is 25 USD, and accounts are denominated in USD/RUB/GBP.

Tickmill also has a Zero Fee policy and will reimburse traders for any fees charged up to 100 USD.

Tickmill for Beginners

Tickmill has a world-class selection of educational materials, in addition to webinars and seminars to help new traders get their footing. It also offers an Analysis Blog and Trading View Analysis Tools, offering new perspectives on currency markets.  

Educational Material

Tickmill offers a range of educational resources, including free downloadable e-books, video tutorials, infographics, and a Forex glossary.  It also hosts regular seminars and webinars.

The e-books cover Forex Trading Basics and how Forex trading works, introducing the Major Currency Pairs, Trading Strategies, and the major types of Forex analysis.

Webinars are run in four languages (English, Arabic, Italian, and German), and all previous webinars are available in an archive. The webinar subjects vary from more fundamental concepts like News Trading Strategies to Technical Analysis and Chart Theories like Standard Elliot Wave Models.

Tickmill has a schedule of free seminars worldwide, which introduce clients to trading concepts, and provides networking opportunities.  Note that to access some of the educational materials, one has to open an account.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
High
High
Medium

Analysis Material

The in-house Tickmill research team runs a regular blog covering both fundamental and technical analyses. The research provides information on market-moving events outside of conventional news sources.

The blog is publically available, and Tickmill allows traders to contact authors with questions about various articles. This is a unique offering, as brokers typically shy away from one-to-one contact with traders.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS

Customer Support

Customer support is available in 14 different languages via email, telephone, and live chat.  Telephone support is also available locally in South Africa.  It does not, however, offer a call-back service.

Trading Platforms

Tickmill supports MetaTrader4 (MT4) and the associated web and mobile applications. MT4 is the industry leader and the most common trading platform for CFD traders. Features of the MT4 platform include 50 technical tools, 30 built-in indicators, multiple chart types, and 9 timeframes.

There are many advantages of signing up with an MT4 broker and using MT4 for trading:

  • The MT4 community is vast, as is the amount of text and video resources to support new and experienced traders alike.
  • The MT4 EA (Expert Advisor) community of developers is very active, so renting or buying algorithmic trading software is very easy.
  • MT4 has very low system requirements, and MT4 trading can run off any device.
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Broker
Platform Choice
Copy Trading
Platforms
111104/ 5
Zulu Trade
111104/ 5
11110.54.5/ 5
IRESS

Trading Tools

Tickmill also provides a number of useful trading tools.

AutoChartist

AutoChartist is a third-party automated chart analysis tool that scans the markets for volatility and notifies traders of relevant trading opportunities. Since it integrates into MT4, information is available inside the trading view and simplifies the platform while providing additional analysis. Autochartist is a common technical analysis tool among traders, so training videos are easy to find online. Tickmill offers AutoChartist free of charge to all live and demo account holders.

Myfxbook AutoTrade

Another common third-party trading tool available on Tickmill is Myfxbook AutoTrade, a cross-broker social trading platform that allows for copy trading without additional software.

MT4 Expert Advisor

The One-click trading MT4 Expert Advisor (EA) is designed to make common trading mechanisms more accessible, facilitating trading and removing unnecessary navigation between windows and charts. This EA does not overly simplify MT4, but it does make trading on the platform less complicated.

Tickmill VPS

Tickmill VPS has partnered with BeeksFX to provide discounted VPS services to clients. While many brokers will include VPS as a free service for active traders, VPS has chosen to partner with a leading 3rd party provider and asks clients to take on the additional cost.

Channel Down on US Dollar South African Rand

Mobile Trading Apps

MetaTrader4 (MT4) is also available on IOS, Android, and Windows mobile phones and tablets. The app will connect to the same account as the desktop software, allowing a synchronised and mobile trading experience.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Tickmill offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Tickmill Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Tickmill would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with Tickmill Ltd.

Overview

Tickmill is an award-winning and trustworthy STP broker that relies heavily on industry-standard platforms to enable fast execution. With a strong education section, additional premium tools offered to traders at no extra cost, and good trading conditions, Tickmill should be a top choice for Forex trading.

AlertAccepts South African Clients. Average spread EUR/USD 0.20 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.12/ 5
USD 100
STP
Cryptocurrencies
Forex
Indicies
Metals
Equities
Bonds
WTIs
60+
0
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
  • Wide range of assets
  • MT4 only
111104/ 5
111115/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
1110.503.5/ 5
111104/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Classic
Pro
VIP
Zulu Trade
Bank Transfer
Visa
Mastercard
Skrill
Neteller
SticPay
Unionpay
Fasapay
4 USD / lot - Pro Account
11110.54.19/ 5
USD 50
Market Maker
ECN/DMA
Commodities
Cryptocurrencies
Forex
Indicies
Equities
Futures
85
5
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Expensive withdrawals
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
1110.503.5/ 5
75.35% of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Live Fixed Spread
Live Floating Spread
Live Zero Spread
STP/ECN No Commission
STP/ECN Zero Spread
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Bitcoin
Unionpay
Fasapay
Zero Accounts
11110.54.23/ 5
USD 100
ECN/DMA
Commodities
Cryptocurrencies
Forex
Indicies
Metals
Equities
60+
5
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
  • Expensive withdrawals
111104/ 5
111115/ 5
11110.54.5/ 5
111003/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Platinum IRESS
Premier IRESS
RAW
Standard
Standard IRESS
IRESS
Bank Transfer
Visa
Mastercard
Paypal
Skrill
Neteller
Fasapay
BPay
paytrust88
POLi
Klarna
6 USD / lot - RAW Accounts

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