Tickmill

Rating: 91%

Min Deposit

$ 100

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Last Updated:May 27, 2024

Tickmill Broker Review – A Trusted Name and Reliable Choice for Forex Trading

Q: How Do I Sign-Up for Tickmill's Log-in Bonus?

Tickmill login bonus is for new clients who are looking to explore the products and services of the brokerage. The FX broker is offering a Welcome Bonus of $30 for new clients signing up with the broker. All you have to do is fill out a simple registration form and submit it. You will immediately receive an email from the broker with the login details and the link to the MT4 server. Connect and start trading for FREE.

Tickmill forex is an ECN broker with a presence in the United Kingdom, Germany, Italy, France, and Spain. The retail broker is fairly new in the forex brokers industry since setting up in 2014 and is currently regulated in the UK, Seychelles, and Cyprus. However, only UK clients are eligible for compensation under the FSCS.

Tickmill supports trading in a limited of instruments with asset classes ranging from forex, stock indices and oil, precious metals, and bonds. The broker provides access to more than 80 trading instruments and has one of the lowest commission structures offered in the market. The company boasts of providing the fastest execution service in the industry at an average execution time of 0.15 seconds only. The primary source of revenue for the company, however, comes from the fee it generates from the spread.

Superior trading conditions
Ultra-fast execution
All strategies allowed
High-quality safety of clients funds
Pioneering technologies and advanced features on the trading platforms
Dedicated support for traders

Trader's Viewpoint on Tickmill Broker – Comprehensive Review of Features and Reliability

In our comprehensive Tickmill broker review, we cover all the major operational parameters, such as account types, account opening procedures, products offered, trading platforms, trading costs, deposit and withdrawal options, and customer support. Besides, our review of Tickmill forex broker also includes regulation, bonuses, promotions, data privacy, and the safety of clients' funds.

We have ensured to keep a neutral position in our review of Tickmill broker, which is why we have included both the positives and the negatives of the products, services, and other client-related factors that we have covered under various categories. Our objective of the Tickmill review is to answer the frequently asked question by potential traders: Is Tickmill legit?

Summary of Tickmill Forex Review

Tickmill ECN broker set up shop in 2014, which makes them a kind of a novice when compared to some of the other renowned FX brokers who have been in the market for decades. While the forex broker mostly caters to the retail client with its multi-account offerings, speedy trade execution, and ample leverage, the broker fails to deliver on a few other operational parameters.

Licenses

The Tickmill Group is licensed by tier-1 and tier-II regulators based out of the United Kingdom and Europe. The regulations governing the forex broker automatically make them a member of MiFID II, FSCS in the UK, and the Investor Compensation Fund (ICF) of the Cyprus SEC.

Platforms

Tickmill can easily be branded the MetaTrader broker since MT4 is the only trading platform offered by the broker, across all devices. While MT4 by itself is a state-of-the-art trading platform, we take a look at why Tickmill's offering is below par when compared to its competitors.

Privacy and Protection

In our review of Tickmill forex broker, we cover the client privacy norms in great detail. When it comes to the safety of funds, client deposits are held in segregated trading accounts, although only clients signing up with Tickmill UK Ltd will receive the FSCS cover in the event of a default.

Spreads/Fees

Tickmill offers a specified category of account holders zero spreads in some of the major FX pairs, while for the others, it charges a small commission. When it comes to fees, the broker only charges for swap positions and clients opting for the VPS.

Mobile

The MT4 mobile app offered by the broker is a well-designed trading terminal for traders who are always on the move. The simple and convenient app is made available for Android and Mac users and can be downloaded from the respective App stores.

Customer Care

Tickmill does not provide 24/5 client support, but the team managing the support desk is pretty sharp. While the response time is generally less than a minute, there could be instances when clients will be required to wait a while longer.

Regulation and Licensing – How Tickmill Protects Its Traders

Tickmill forex has licenses from tier-I, tier-II and tier-III regulatory agencies in the world. While the principal office of the company in Mahe, Seychelles, is governed by the FSA, the group companies have their separate registrations and licenses, which are highlighted below:

Seychelles Financial Services Authority (FSA)
Tickmill broker is registered in Seychelles under the Financial Services Authority Act of 2013. The license number is SD008. The regulator is also responsible for the supervision and development of non-bank financial services in Seychelles, and the regulatory oversight is strong.
Financial Conduct Authority (FCA)
Tickmill UK Limited is registered with the FCA. The registration number is 717270. The company is also a member of the Financial Services Compensation Scheme (FSCS). FSCS is an independent compensation fund for the customers of UK financial services firms in the country. The compensation limit is £85,000 per client in case the firm is unable to meet its obligations.
Cyprus Securities and Exchange Commission (CySEC)
Tickmill Europe is registered with the Cyprus Securities and Exchange Commission as its regulating authority; the CySEC license number is 278/15. It is also a member of the Investor Compensation Fund (ICF). The fund's objective is to settle claims of clients against its members who fail to meet their liabilities.

The other security measures taken by Tickmill are as follows:

Holding funds in segregated trading accounts.
Maintaining deposits in top-tier banks.
Limited protection against negative balance.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.

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Tickmill Offers a Small Collection of Tradable Assets

When it comes to the number of the products presented by the broker, they total less than 100, with forex contributing to about two-thirds of the tradable instruments. The following table illustrates the tradable asset classes at Tickmill forex broker, along with some of the key products.

Asset class	Range
Forex	The broker offers a range of 60+ forex pairs, including all the major-minor pairs and a few exotic currencies.
Stock Indices	FD traders can gain access to 14 global indices that track the equity markets. The FX broker's CFDs on stock indices include Asian indices like Hong Kong's Hang Seng and the Nikkei in Japan. European indices comprise of Germany's DAX, the French CAC 40, the FTSE MIB of Italy, and the UK's FTSE 100, while the Dow, S&P 500, and the NASDAQ are the US stock index offerings.
Commodities	When it comes to commodities, Tickmill has minimal products to offer. The broker has listed only Gold and Silver under precious metals, while crude oil CFDs include Brent and WTI.
Bonds	If you have a Tickmill account, you can also access the four leading German cash CFD bond offerings by the broker. The bond offerings include EURBOBL, EURBUND, EURBUXL, and EURSCHA. All these CFDs track the underlying futures trading on the EUREX Exchange.

A quick comparison of the products offered by Tickmill with the other FX brokers indicates that the competition is way ahead when it comes to both product listings and asset classes. One of the reasons could be that Tickmillfx is on 9 years since its unveiling in 2015 and does not want to rush by launching 100s of products. But, when it comes to its offering in forex, Tickmill might have even overtaken some of the other established brokers.

On the negatives, Tickmillfx could have included a couple of products in the cryptocurrency space, which would have given clients an additional asset class to diversify their trades.

Tickmill broker offers a comprehensive trading experience with various account types, secure trading experience backed by extensive regulatory oversight and diverse trading options.

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Tickmill Broker – Trading at Its Best

Tickmill Forex Broker Costs – Spreads, Commissions and Fees

Beginning with the spreads - Although the broker has stated a minimum spread of zero across FX pairs and metals on its website, we found the EUR/USD and a few other majors like the USD/JPY were continually being offered at a minimum spread of 0.1 pips, slightly more than the typical spread stated by the broker. Likewise, the spread on the other major FX pairs was at least 0.5 pips, while those of exotic currencies like GBPZAR and the USDTRY rocketed close to 110 and 22 pips, respectively. For precious metals like spot gold and silver, the offered spread was in the range of 10 cents and 1 cent, respectively.

CFDs on US indices were quoting a spread of three-five points during off-market hours, while their European counterparts, such as FTSE MIBs "Italy 40 CFD," was trading at a spread of 10-points, in line with Tickmill forex broker's statement on its website.

The spread also varies depending on the account type you set up with the broker.

Highlighted below are the three account types with Tickmillfx along with the respective spread

Account type	Min. spread
Classic	1.6 pips
Pro	0.0 pips
VIP	0.0 pips

On the commission front, although all Tickmill account types carry a minimum deposit, the broker does not charge commissions on all the accounts. Commissions are applicable only on trades in FX and precious metals if carried out from the Pro or VIP accounts, and the charges are in the base currency.

So, if you are trading the AUD/USD pair, commissions will be in AUD. Tickmill does not charge commissions on CFDs in stocks indices, crude oil, and bonds.

The following table illustrates the account types and the corresponding commissions

Account type	Commissions charged
Classic	Zero
Pro	4 RT for a lot size of 100,000
VIP	2 RT for a lot size of 100,000

Tickmill does not charge any fees for its services except if you want to use the VPS option provided by BeeksFX. Besides, the broker also charges for SWAP or overnight positions held.

Account Opening Steps at Tickmill Forex

If you are opening a Tickmill account as a client, the account opening is a simple, two-step process. For clients opening an account with Tickmill broker Seychelles, here are the account opening steps for an "Individual Account."

Tickmill Account Types – Find the Right for You

Tickmill offers four account types:

Classic account
Pro account
VIP account
Islamic account

Alternatively, there is also a demo account, which provides a first-hand experience for potential clients to familiarize themselves with the products and services before opening a LIVE account.

Though the pricing varies across the various account types, the broker does not stand out as a low-cost provider of services. Some of the standard features of the Classic, Pro and VIP accounts are as follows:

All accounts are available in three currencies: Euro, USD, and GBP.
The maximum leverage allowed in all accounts is limited to 500.
The minimum lot size is 0.01.
Traders can implement all strategies irrespective of the account type.
Each account type has the eligibility to be converted into an Islamic account.

The main features of the various accounts are as follows:

Classic Account – The Classic account allows the client to trade in 62 currency pairs, stock indices, oil, metals and bonds. The variable spread starts at 1.6 pips. This account is suitable for novice as well as experienced traders.
Pro-Account – The account is designed for traders with significant experience and those who demand advanced features and perfect trading conditions. The spread in the Pro account starts at 0.0 pips. The Pro account also allows traders to place stops and limit orders closer to the market price, which is not permitted by most FX brokers.
Islamic Account – Islamic account is a swap-free account, i.e., where the broker does not swap or charge rollover interest on overnight positions. Clients interested in opening an Islamic account should first open a regular account and later request for conversion. All the trading terms and conditions are the same as in regular accounts. There is a holding charge applicable for holding currency pairs for more than three consecutive days.

Tabled below are the key differences in the Classic, Pro, and the VIP Tickmill accounts

	CLASSIC ACCOUNT	PRO ACCOUNT	VIP ACCOUNT
Minimum Deposit Required	$100	$100	-
Minimum Balance Required	-	-	$50,000
Commissions	Zero commissions	2 per side per 100,000 traded	1 per side per 100,000 traded

Benefits of setting up your trading account with Tickmill forex

80+ Trading Instruments
Spreads from 0.0 pips
Fast Deposits & Withdrawals
Top-tier client fund safety
Multilingual client support
EAS & ALGOS allowed

In our Tickmill forex review, we have highlighted all the stages involved in setting up a LIVE account, along with the pros and cons.

Step 1:

Begin by filling out your personal information.

Step 2:

In the second and final step, enter your financial information, trading knowledge and experience in the financial markets and set your account password.

Once you complete the necessary formalities, you will receive an email from the Tickmill broker to validate your email address. Complete the process and click on the link to be taken to the secure client area, from where you can log in to your Tickmill account.

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Secure and Convenient – Payment Methods at Tickmill Broker

Tickmill forex has a large number of deposit and withdrawal options, although only some preferences are available to clients residing in certain countries. Clients can transact directly by logging in from the secure client area. Tickmill does not charge any fee for deposits or withdrawals. However, withdrawals will be processed only in the base currency of the trading account.

The following tables illustrate the deposit/withdrawal options along with the permitted currencies and the approximate processing time

Tickmill Deposit methods	Currencies	Approx processing time	Minimum deposit
BANK TRANSFER	USD, EUR, GBP, PLN	One working day	$100
VISA/MASTERCARD	USD, EUR, GBP, PLN	Instant	$100
SKRILL	USD, EUR, GBP, PLN	Instant	$100
NETELLER	USD, EUR, GBP, PLN	Instant	$100
PayPal	USD, EUR, GBP, PLN	Instant	$100

Tickmill Withdrawal methods	Currencies	Approx processing time	Minimum withdrawal
BANK TRANSFER	USD, EUR, GBP	One working day	$25
VISA/MASTERCARD	USD, EUR, GBP	One working day	$25
SKRILL	USD, EUR, GBP	One working day	$25
NETELLER	USD, EUR, GBP	One working day	$25
PayPal	USD, EUR, GBP	One working day	$25

Tickmill minimum deposit preference of $100 is fair compared to a few other forex brokers who mandate a larger minimum deposit. On the contrary, our Tickmill forex broker review of the withdrawal method shows that although the broker processes the payout in one working day, it could take anywhere between two to eight working days for the money to reach you.

Ensuring Client Privacy, Data Security and Capital Protection with Tickmill

When it comes to client privacy and maintaining the security of data collected from clients, Tickmill has listed out all the information it receives and the purpose. We have tabled them below:

Data type	Purpose
Personal information comprising of name, date of birth and address	To verify the client's identity and to meet the anti-money laundering and other regulatory obligations in connection with the Know Your Client (KYC) and client due diligence policies.
Contact information- Email address, phone number, etc.	To correspond with the client about the services provided and to fulfill the broker's regulatory and compliance obligations.
Employment/ financial information, education, and trading experience	To comply with KYC obligations and meet regulatory requirements to assess the appropriateness of the products and services offered by Tickmill
Ethnicity, citizenship and national identity proof	To comply with KYC, regulatory trade reporting, and other AML requirements.
Proof of photo ID, address verification	To comply with KYC, regulatory trade reporting, and other AML requirements.
Device information like IP address, web browser, etc.	This information is collected when the client visits the website, navigates through the pages or fill out any forms and is generally used to set up the client profile.
Information related to financial sanctions and credit header	The data is collected to perform electronic screening checks with regards to AML and to also comply with a few other policies like credit history, political interests, and criminal convictions.

Besides the above, Tickmill broker uses its client's personal information to:

Communicate and update them on changes to the ongoing policies, present new products and services on request or offer those that may be of interest to the client.
Meet obligations and contractual requirements.
Diagnose/ fix technology problems.
Let certain third parties use the data to provide clients with information about goods and services that could be of interest to them.

Tickmill forex provides different levels of regulatory protection to clients. While retail clients receive maximum regulatory protection, clients can also request reclassification to increase or decrease the level of regulatory protection given to them.

When it comes to capital protection, there are a few drawbacks. Only clients registered with Tickmill UK Limited are eligible for the £85,000 cover provided by the Financial Services Compensation Scheme (FSCS). Clients who have signed up with Tickmill Seychelles do not receive any protection in case the broker defaults or folds up since the broker is not participating in the funds' protection scheme of FSA. Also, the broker does not provide blanket cover when it comes to negative balance protection; instead offers to review them on a case to case basis.

Tickmillfx Offers MT4 across Devices

Tickmill forex broker offers the MetaTrader 4 na MT5 for web, desktop, and mobile applications. The platforms cover a range of major, minor and exotic forex pairs numbering more than 60. The other trading instruments include spot gold and silver, CFDs in stock indices, crude oil and a few European treasury instruments.

We tested the demo applications of all the platforms offered by Tickmill forex and have highlighted the positives and negatives in our review below.

We started with the Tickmill Webtrader, which is the MetaTrader 4 and 5 web-based platform. The positives include a crisp application with the option to add multiple charts across nine timeframes, the ability to place one-click order entries, long-list of language options, and seamless connectivity with the MQL5 community. The positives, unfortunately, end there.

On the flip side, there are quite a few negatives, beginning with zero indicators compared to the 50+ offered in the desktop version, complex maneuvering if you're trying to zoom in and zoom out of charts, inability to set trading defaults, devoid of news, trading alerts, and the absence of the automated trading option.

The MT 4 desktop application, on the other hand, is the standard customizable interface that is generally given out by several forex brokers with slight modifications. Although the platform comes bundled with MT 4 tools, indicators, and EA's, Tickmill has not made any significant additions to the platform.

Pros

Traders employing expert advisors (EA's) on he desktop version of MT4 can use the forex broker's VPS services to remain connected to the markets 24/7.
The platform features more than 50 indicators plus customized charting and close to 40 language options.
The desktop application allows you to download, import, export, add, and edit files on to your platform.
You can log in to the Tickmill Webtrader directly from the desktop application, open a LIVE account, or connect with the MQL5 community, all at the click of a button.

Cons

Tickmill has not included any surprising add-ons in its MT4 offering, which otherwise could have made the broker stand out against its MT 4 competition.
Trying to locate the pending and executed orders on the platform was a bit of a task.
No news or alerts, and if you click the history center, it takes you to the products, which is a little weird.

MT4 Mobile Platform for Android and iOS Users

Android
iOS

As mentioned earlier in our review, Tickmillfx also offers the mobile MT4 application, which is sleek with simple features and easy to operate. However, it took a while to understand the process of downloading the application. The app comes with an inbuilt watchlist, charts, outcomes of your trades and news headlines.

If you're new to downloading Tickmill broker's MT4 mobile application, all you have to do is go to the Google Play Store or the Apple App Store, download the Tickmill mobile app, and use the Tickmill demo account ID and password to log in.

Based on our extensive review of all three trading applications, the MT4 desktop version is the best, with the mobile platform coming second and the web version the least impressive.

Trading Features Offered by the FX Broker

The trading features across Tickmill platforms comprise only a few order entry types like market, limit, stop losses and take profit with the market lot size for forex pairs set at one trading unit (100,000).

Positives include one-click trading from charts, the Myfxbook copy trading feature, which allows clients to copy trades of successful traders from their MT 4 accounts. Besides, the broker is also offering the popular pattern recognition technical analysis software, AutoChartist, which is generally used to identify chart patterns and price levels across all its product offerings. The other tools include forex calculators, which can be employed to calculate margins, perform the task of a currency converter, or used to calculate pip values.

Tickmill forex also offers VPS services through BeeksFX for a fee. Clients can benefit from low latency since the servers of the VPS provider are adjacent to the broker's servers.

However, the Tickmill webtrader does not have any indicators at all except for the Gann angles, the Fibonacci series and the Elliott Wave analysis. Also, none of the platforms have an option to connect to customer support through LIVE chat.

When it comes to fundamental data and news, Tickmill delivers only elementary reports through a link from its website.

Tickmill Offers Speedy Execution and Moderate Leverage

Tickmill forex received the "Best Forex Execution Broker" at the CFI.co awards in 2019, a clear indication that the trade execution speed on the broker's terminals is of very high quality. While this could be partly due to the implementation of Tickmill's MT4 platform across devices playing a significant role in the speedy execution of orders, the speed matches or betters some of the leading global FX brokers.

Since the broker has limited asset classes at its disposal, we have listed the execution speed of the individual trading instruments offered by Tickmill.

Asset class	Average execution speed
Forex	0.15 seconds
Stock Indices	0.15 seconds
Precious Metals	0.15 seconds
Oil	0.15 seconds
Bonds	0.15 seconds

While Tickmill has stated an execution speed of 0.15 seconds across all its asset classes, this could be a little higher, especially for stock indices and bonds, due to liquidity factors. However, our review of the WebTrader confirmed the execution speed, which is a big plus for the forex broker.

When it comes to leverage, Tickmill claims to offer a maximum leverage of 1:500 across all the major FX pairs. At the same time, for stock indices, crude, and bonds, the broker delivers a maximum leverage of 1:100, which is better than some of the leading forex brokerages.

However, the leverage could vary depending on where the client opens the trading account since, under certain tier-1 regulators, the maximum leverage allowed is far below the 1:500 offered by the broker.

Asset class	Max. leverage
Forex	Up to 1:500
Stock Indices	Up to 1:100
Precious Metals	Up to 1:500
Oil	Up to 1:100
Bonds	Up to 1:100

Customer Support Channels

The customer support desk at Tickmill forex is not open 24/5, unlike most of the top forex brokers. Apart the broker has a live chat option, which supports a wide range of languages, including Spanish, Russian, English, Chinese, Indonesian, and Vietnamese. Also, to enhance client support, the company has an exhaustive "Frequently Asked Questions" listed on its website. The team on the LIVE chat is quick with a response time of less than a minute. However, there could be instances when clients using the LIVE chat could be in the queue for a while, as we discovered on a couple of occasions.

The support team is well-trained about the products, services, and policies of the company and does not take a significant time to respond to specific questions. Email support, on the other hand, usually responds within 24 hours.

Following are the support details in the UK, Seychelles, and Cyprus, along with the support hours.

UK client support hours: Monday-Friday 07.00-20.00 GMT/GMT+1 (daylight saving time)

Contact Number	+44 203 608 6100
E-mail address	[email protected]

Seychelles client support hours: Monday-Friday 07.00-20.00 GMT/GMT+1 (daylight saving time)

Contact Number	+852 5808 2921 or +65 3163 0958
E-mail address	[email protected]

Cyprus client support hours: Monday-Friday 09.00-22.00 GMT+2/GMT+3 (daylight saving time)

Contact Number	+357 25041710
E-mail address	[email protected]

Live Chat

Yes

E-Mail

[email protected]

Phone

+44 789 703 6806

Tickmill is available in the following languages:

English

Indonesian

Mandarin Chinese

Spanish

Vietnamese

Visit “FOREX BROKERS ACADEMY” for more information.

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Broker That Won Numerous Awards and Recognitions

The company has won more than ten awards in the past three years. Here's a list of some of their recent awards:

#1 Broker for Commissions and Fees by forexbrokers.com - 2024
Best CFD Broker by Rankia Awards - 2023
Best Professional Trading Account Execution by Professional Trader Awards - 2023
Best Brokerage Outside of the US by Benzinga Global Fintech Awards - 2023
Best Forex Customer Service by Global Forex Awards - 2022

#1 Broker for Commissions and Fees

forexbrokers.com 2024

Best CFD Broker

Rankia Awards 2023

Best Professional Trading Account Execution

Professional Trader Awards 2023

Frequently Asked Questions

Is Tickmill Legit?

Tickmill is a legit forex broker regulated by the Financial Services Authority (FSA) in Seychelles, UK's Financial Conduct Authority (FCA), and by the Cyprus Securities and Exchange Commission (CySEC).

Does Tickmill Allow Clients to Hedge Positions?

Yes, Tickmill permits clients to hedge trades across all the asset classes offered by the broker. So, if you are holding a long position in a particular asset class, you can go short on the same underlying without closing out your long trade.

How Does the Tickmill Copy Trading Work?

Tickmill has introduced a copy trading facility where clients can copy trades of successful traders. To enroll for Tickmill's copy trading facility, open a LIVE account and email your account number to Tickmill's support desk requesting to be added to the Myfxbook Autotrade group. Once it's accepted, visit the Myfxbook website, link your trading account to Myfxbook, pick the automated system, and copy them.

In What Way Would the Tickmill 'Become Our Expert' Benefit Traders?

If you are a forex expert with knowledge of fundamental/technical analysis or if you are good at trading strategies and would like to share your analysis with other traders, you can do so as a guest article writer for Tickmill forex broker.
On the one side, your knowledge of the markets could benefit the other traders, while on the other, you could gain popularity if a large number of traders follow your analysis.

How Do I Sign-Up for Tickmill's Log-in Bonus?

Tickmill login bonus is for new clients who are looking to explore the products and services of the brokerage. The FX broker is offering a Welcome Bonus of $30 for new clients signing up with the broker. All you have to do is fill out a simple registration form and submit it. You will immediately receive an email from the broker with the login details and the link to the MT4 server. Connect and start trading for FREE.

Conclusion

Tickmill forex has been in the markets for about five years now, and although the broker is still lagging on quite a few parameters and product offerings, it is still early to judge the broker.

Besides the few asset classes that are provided by the broker, there are a lot of improvements to be carried out by the broker. Some of them include enhancing the quality of regulation by participating in the "Fund protection scheme" offered by the Seychelles watchdog, guaranteeing negative balance protection for all clients, improving the features of the trading platforms, and providing 24/5 customer support.

On the positives, the broker ensures speedy execution of trades, the trading cost to clients is relatively low, the account opening charges are reasonable, fund Tickmill deposits are quick, and there are hardly any additional costs in terms of fees and other expenses.

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