Tickmill Review 2020

Tickmill Summary

Tickmill is a Forex broker that was created in 2014, in Seychelles. This CFD and Forex broker is currently regulated by three top-tier financial regulators in the world, which is: the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles (FSA). 

This Tickmill review will demonstrate an analysis of all the different features that this Forex broker can provide.

Tickmill offers several types of trading accounts on two different trading platforms. You will find that Tickmill offers very low trading and non-trading fees, making it one of the lowest Forex broker commissions in the trading industry. Tickmill offers different payment methods to withdraw funds and deposit funds into your trading account, with no additional charge.

Tickmill provides the option of trading on-the-go, and you can also place different order types simultaneously. However, there is a limited range of financial instruments and narrow access to financial markets. Along with limited access to financial markets, you will find that there is no 24\7 customer service available. The customer service department makes up for the two-day weekend by providing relevant answers and offering different languages.

Tickmill Main Features
🛍️Established in:
2014
🛍️Headquarters:
Cyprus
⚖️Regulations:
CySEC, FCA , FSA
⚖️Country of regulation:
UK, Cyprus, Seychelles
💰Minimum Deposit:
$100
🎮Platforms:
MT4; WebTrader
🎮Demo Account Available:
No
💱Leverage:
1:500
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
No

Pros

  • Regulated by the FCA, CySEC, and the FSA
  • Low trading fees and low commission
  • Fast account opening process
  • No deposit and withdrawal fee
  • Different trading platforms available
  • Wide range of trading tools
  • Demo Account provided

Cons

  • Limited range of financial instruments
  • No 24\7 customer service available
  • High minimum deposit for VIP Account
  • No clients from the US and Canada allowed

Background

Tickmill is a registered trading name for Tickmill Ltd, which is a member of the Tickmill Group. This Forex broker was established in 2014 in Seychelles, where it aimed to create a premium trading environment that allows traders to reach their full potential. Currently, Tickmill has more than 166,000 clients who are fully satisfied with this Forex broker’s performance and over 273 million trades are executed.

Safety & Regulation

Tickmill is currently regulated by the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles (FSA). This Forex broker also provides negative balance protection and investor protection for its traders.

This Tickmill review will demonstrate the different regulations and security measures taken by this Forex trading broker.

Is Tickmill Safe?

Tickmill is a safe and trustworthy Forex trading broker that stores client funds in segregated accounts that are kept isolated from corporate funds. In addition to storing client funds in segregated accounts, you will also find Tickmill provides negative balance protection and investor protection amount. Tickmill also conducts audit reports on a regular basis to prove its compliance with the financial regulators.

Pros

  • Regulated by the FCA, CySEC, and the FSA 
  • Provides negative balance protection
  • Provides investor protection amount
  • Conducts audit reports on a regular basis
  • Stores client funds in segregated accounts

Cons

  • Not listed on stock exchange
  • Does not have a banking license

Regulation

Tickmill is regulated by the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles (FSA). This Forex trading broker takes protective and preventive measures to look after client information and client funds.

Protection

Tickmill is a safe Forex trading broker that values the protection of client funds and information. This Forex trading broker provides traders with negative balance protection, which protects traders in the case that they reach a negative balance. In addition to the negative balance protection, Tickmill offers investor protection amount, in the possibility that the Forex trading broker reaches bankruptcy.

Awards

Tickmill has been receiving awards since 2017 until the current time. For 2017, Tickmill won the Most Trusted Broker in Europe of 2017 by Global Brands Magazine. As for 2020, Tickmill received two awards until now. The first award is for the Best Commodities Broker of 2020 from the Rankia Markets Experience Expo; the second award is the Best Trading Experience of 2020 by the Forex Brokers Award 2020

Tickmill Fees

Tickmill provides low trading fees and non-trading fees compared to other trading brokers in the industry. The commission charged for traders is incredibly low and it only costs 2 base currency units per lot.

This Tickmill review will inform you of the different fees that you are charged, for trading or non-trading transactions.

Trading Fees

Trading fees are commissions charged during trading financial transactions, along with spreads provided by Tickmill. However, with Tickmill, the spreads and the commissions vary, depending on the trading account. For the Classic Account, you will find spreads start from 1.6 pips. As for the Pro Account and the VIP Account, spreads start from 0.0 pips. In regards to commissions charged, the Classic Account does not require any commissions. With the Pro Account, you are charged with a commission of 2 per side per 100,000 traded. Finally, in the VIP Account, you are charged with a commission of 1 per side per 100,000 traded.

Pros

  • Low trading fees
  • Low non-trading fees
  • No inactivity fee
  • No deposit or withdrawal fee
  • Tight spreads available

Cons

  • High minimum deposit for VIP Account
  • Commission charged for 2 base currency units per lot

Non-Trading Fees

With Tickmill, you will find that there are no distinctive non-trading fees. Non trading fees are fees charged to the trader from the broker on transactions that are excluded from trading. Tickmill does not require a fee for depositing funds into your trading account or for withdrawing funds from your trading account. You are also not required to pay an inactivity fee, if you happen to stay inactive for a period of time.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

Tickmill Fees Compared To Competitors
Tickmill  XM Exness
Account Fee No No No
Inactivity Fee No Yes No
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Leverage

Tickmill provides three different trading accounts: the Standard Account, the Pro Account, and the VIP Account. All three trading accounts have the same maximum leverage level, starting from 1:1 and reaching up to 1:500. The maximum leverage level is determined by the jurisdiction of your place of residence; as an example, the ESMA for the European Union allows a 1:30 leverage level.

Account Opening

Tickmill offers three different types of trading accounts: The Standard Account, the Pro Account, and the VIP Account. Each trading account differs in the trader’s experience and the complexity of their trading strategies. The account opening process is fully digital and fast in execution.

This Tickmill review will provide a step by step guide on how to open a Live Account.

Pros

  • Different trading accounts available
  • Low minimum deposit for the Standard Account and the Pro Account
  • No commissions charged for the Standard Account
  • Islamic Account option available on all three accounts
  • Fully digital and fast account opening process

Cons

  • None

Minimum Deposit

Tickmill requires a minimum deposit for two trading accounts: The Standard Account and the Pro Account. The minimum deposit required is 100USD or its currency equivalent. However, the VIP Account does not require a minimum deposit, but it requires a minimum balance. You need to have a minimum balance of 50,000USD or its currency equivalent in your account to be able to open a VIP Account on Tickmill.

Pro Account

The Pro Account requires a minimum deposit of 100USD or its currency equivalent, and it has a maximum leverage level of 1:500. You will be given tight spreads that start from 0.0 pips. However, you will be charged with a commission of 2 base currency units per side per 100,000 traded. There is a minimum lot of 0.01 lot and all trading strategies are allowed with this Tickmill Pro Account. In addition, you can always activate the option of having an Islamic Pro Account for swap-free positions.

Standard Account

As for the Standard Account, referred to as the Classic Account on the Tickmill website, you are required to make a minimum deposit of 100USD or its currency equivalent. You will also have a maximum leverage level of 1:500. With the Classic Account, you will have wider spreads that start from 1.6 pips, but you will not be charged with any commissions. There is a minimum lot of 0.01 and all trading strategies are allowed. The option of an Islamic Standard Account is available for you if you prefer swap-free positions.

VIP Account

The final trading account is the VIP Account, which does not require a minimum deposit. However, you will be required a minimum balance of 50,000USD or its currency equivalent. This trading account also provides tight spreads starting from 0.0 pips, but you are going to be charged with a commission of 1 base currency unit per side per 100,000 traded. All trading strategies are allowed with the VIP Account, with a maximum leverage level up to 1:500. You can also activate an Islamic VIP Account for swap-free positions.

How To Open a Tickmill Trading Account

Step One: Fill in the online application with your personal information

Tickmill Step One

Step One: Fill in the online application with your personal information

Step Two: Put in your personal information of your personal address, tax identification number, financial background, trading knowledge and experience, and other data.

Tickmill Step Two

Step Two: Put in your personal information of your personal address, tax identification number, financial background, trading knowledge and experience, and other data.

Tickmill Step Two (2)

Step Two: Put in your personal information of your personal address, tax identification number, financial background, trading knowledge and experience, and other data.

Tickmill Step Two (3)

Step Two: Put in your personal information of your personal address, tax identification number, financial background, trading knowledge and experience, and other data.

Step Three: You are ready to start trading.

Tickmill Step Three

Step Three: You are ready to start trading.

Deposit & Withdrawal

Tickmill offers fast and free deposits and withdrawals of funds. You can select from three different types of payment methods: Credit\Debit Card, Bank Transfers, and Electronic Payments. However, the account base currencies available are narrow in choices.

This Tickmill review will provide you the different payment methods available to deposit and withdraw funds to your trading account.

Account Base Currencies

Tickmill offers four different account base currencies, where you are required to select one of them as the currency you will be dealing with on your trading account. The four account base currencies are: EUR, GBP, USD, and PLN. If you deposit or withdraw funds with a different currency, the funds will be converted to your account base currency.

EUR GBP USD PLN

Deposits

Tickmill deposits funds into your trading account, without charging you with any deposit fees. You can deposit funds into your trading account with: Credit\Debit Card, Bank Transfers, and Electronic Wallets. The deposit process via bank transfer takes approximately 1-3 business days, while the credit\debit card and electronic payment method is processed instantly. However, you will only have four different account base currencies to choose from.

Pros

  • Fast deposit process
  • Different payment methods
  • No deposit fees

Cons

  • Limited account base currencies

Tickmill Deposit Options

  • Bank Transfer
  • Credit\\Debit Card
  • Electronic Wallet

Withdrawal

As for withdrawals from your trading account, Tickmill has similar withdrawal features to that of deposits. You will not be charged with any additional fee, better known as withdrawal fee. Withdrawals with Tickmill normally take approximately 1 business day, no matter the payment method. There are several different types of payment methods: Credit\Debit Card, Electronic Wallets, and Bank Transfers. On the other hand, you will find a shortage in the selection of the account base currencies since there are only four currencies to choose from.

Pros

  • Fast withdrawal process
  • Different payment methods
  • No deposit fees

Cons

  • Limited account base currencies

Tickmill Withdrawal Options

  • Bank Transfer
  • Electronic Wallet
  • Credit\\Debit Card

Trading Platforms

Tickmill provides two types of trading platforms: MetaTrader4 and WebTrader. MetaTrader4 is one of the most well-known trading platforms that are used by traders all over the world.

This Tickmill review will use MetaTrader4 as a model to analyze the features available for clients with Tickmill.

  • MetaTrader4
  • WebTrader

Web Trading Platform

The MetaTrader4 web trading platform that is provided by Tickmill is available for use in many languages, and you will find the platform easy to navigate through. There are more than 30 indicators that can be customized to your trading needs, on whatever operating system you own. Additionally, you will have access to five different pending order types, which are: Market, Limit, Stop, Good Till Cancelled (GTC), and Good Till Time (GTT). These order types are considered the order types needed in basic trading.

You have the option of viewing your full portfolio and any past transactions that you have made, to keep updated on your performance. On the other hand, the MT4 web trading platform does not provide price alerts or notifications, and you will have to rely on the initial login process since there is no two-step verification process.

Pros

  • Available in several languages
  • Customizable indicators
  • Easy to navigate
  • Able to view portfolio and past transactions
  • Available on all operating systems

Cons

  • No price alerts or notifications
  • No two-step login process for verification

Desktop Trading Platform

The MetaTrader4 desktop trading platform is similar to the web trading platform in many ways. With the desktop platform, you can customize more than 30 indicators any way you choose, in any language you want. You can download the MT4 desktop trading platform on any operating system and you can activate price alerts in the form of push notifications on your desktop. There are five pending order types that you can use to trade, which are: Market, Limit, Stop, Good Till Cancelled (GTC), Good Till Time (GTT).

Additionally, you can view your past transactions and your full portfolio, so you can keep track on all your past performances. However, you will find the MT4 desktop trading platform to be very outdated in design and it does not provide a two-step login process as a form of verification.

Pros

  • Available in different languages
  • Indicators can be customized
  • Access to your portfolio and past transactions
  • Downloadable on Mac and Windows
  • Price alerts and notifications are available

Cons

  • No two-step login process
  • Outdated design

Mobile Trading Platform

The MT4 mobile trading platform is also similar to both the web trading platform and the desktop trading platform. However, this platform is better for users who prefer to trade on the go. You can use the five basic pending order types of: Market, Limit, Stop, Good Till Canceled (GTC), and Good Till Time (GTT). As a mobile device user, you can download it on your iOS or Android device; the mobile application is compatible with both operating systems.

There are over 30 indicators that be customized to your liking, and you will find that the design of the trading platform is very user friendly. You can activate price alerts as a push notification on your device, but you cannot use facial recognition or fingerprint recognition as a form of identification for logging in.

Pros

  • Wide selection of languages available
  • Customizable indicators provided
  • Price alerts and notifications are available
  • Downloadable on iOS and Android
  • User friendly design

Cons

  • No facial or fingerprint recognition

Markets & Financial Instruments

Tickmill provides access to four different asset classes and more than 50+ different currency pairs are available to trade on. However, you will not find a wide selection of financial instruments, such as: cryptocurrencies and energies.

This Tickmill review will inform you on the different financial markets and financial instruments that you will have access to.

Pros

  • More than 50+ currency pairs
  • More than 270 Million trades executed from all over the world
  • Gold and Silver available for trading

Cons

  • Does not provide cryptocurrency
  • Limited range of financial products
What Tickmill Offers
Forex Stock Indices and Oil 
Precious Metals  Bonds

Tickmill provides access to four different asset classes: Forex, Precious Metals, Bonds, and Indices. With Tickmill, you will be able to trade with more than 60+ Forex pairs, and you will have access to Silver and Gold crosses. Additionally, you can trade with more than 14+ indices and have access to German bonds. Tickmill enables all trading strategies for all four financial markets, and you will have the maximum leverage level of 1:500 for all asset classes.

Markets Research & Trading Tools

Tickmill aims to provide a trading environment that allows its traders to reach their full potential. This is done by the trading tools and market research materials provided for the trader. Market research materials such as trading ideas and fundamental data help the trader to understand the trading industry. On the other hand, trading tools such as AutoChartist and Tickmill VPS enhance the trading strategies of the trader.

This Tickmill review provides data on the different trading tools and market research material provided by this CFD and Forex trading broker.

Trading Tools

There are many trading tools provided for traders with Tickmill, and they all improve your trading strategies. The first trading tool AutoChartist provides traders with fundamental analysis data that identifies chart patterns, facilitating in making your trading strategies more accurate. As for Myfxbook, is a copy trading platform that allows you to view the trading strategies of expert traders and duplicate them as your own, becoming an experienced trader without facing any financial exposure.  The Forex Calculator offers the option to calculate all major and minor currency pairs, giving you accurate calculations on the Forex pair you selected.

Tickmill Tools
AutoChartist Myfxbook Copy Trading
Tickmill VPS Forex Calculator
One-Click Trading

Pros

  • Tickmill VPS provides you the option of automated trading
  • Copy trading gives you experience without any financial risk
  • Accurate chart patterns with AutoChartist
  • All Forex pairs are calculated with Forex Calculator
  • Expert Advisors available via One-Click Trading

Cons

  • None

Market Research

Tickmill offers market research materials that will allow you to stay updated on the trading industry. This includes: trading ideas, fundamental data, and economic calendars. Trading ideas are daily blog posts that were written by Tickmill experts, which explain market events. Trading ideas is a very suitable method for novice traders to delve into the trading world. As for the fundamental data, it mostly focuses on macroeconomic data, instead of the company’s data. This gives you the full scope of the trading world. The economic calendar is a calendar that is updated daily on the economic events that take place around the world. You can also view past events on the economic calendar.

Pros

  • Trading ideas are easily explained and simplified
  • Trading ideas are updated daily
  • Fundamental data focuses on the macroeconomic world
  • Economic calendar provides detailed descriptions of events
  • Economic calendar is updated daily.

Cons

  • None

Customer Service

Tickmill offers different means of communication, where the customer service staff is accommodating and provides relevant answers to your inquiries. You will find that most of the different means of communications have fast response time, except for the postal service and the live chat. Also, the customer service department does not operate 24\7.

This Tickmill review will inform you of the different means of communication that allow you to reach the customer service staff of Tickmill.

Tickmill has satisfying customer service staffs, which is why Tickmill currently has 166,000+ satisfied clients. The customer service is available via phone, email, live chat, and you can send an inquiry form. You will find that the email support and phone support are the fastest way for you to reach the customer service, since they have a very fast response time. The postal service and live chat take longer than they should, but the live chat take screenshots of their explanations to expedite your customer service experience. However, the Tickmill customer service is not available 24\7.

Pros

  • Fast response time for most of the means of communication
  • Relevant answers to your inquiries
  • Accommodating customer service staff
  • Different methods of communication
  • Available in several different languages

Cons

  • Slow response time with Live chat and Postal service
  • Not 24\7 available

Means Of Communication

  • Phone Support
  • Email Support
  • Postal Service
  • Live Chat
  • Inquiry Form

According to different customers, their overall trading experience was improved after they reached the customer service support of Tickmill. The customer service response time and relevant answers that followed were all very helpful, making the client feel more in touch with their broker. The human touch made a big difference with the customers, which led to an improvement in their trading experience and general feedback towards Tickmill.

Client Education

Tickmill offers several different types of client education resources of all forms. From visual aid to a Demo Account as a hands-on approach, you can learn everything about trading with Tickmill.

This Tickmill review will give you how-to guide on opening a Demo Account of Tickmill.

Pros

  • High quality educational videos
  • Relevant educational articles
  • Free demo account
  • Free webinars for all traders
  • Resources are easy to navigate

Cons

  • Must be a Tickmill member to have access to the resources

Tickmill educational resources are offered free of charge to all traders of Tickmill. The platform tutorial videos give you a step-by-step guide on how to use the different trading platforms of Tickmill. As for the webinars, there are interactive sessions on different trading topics that are explained by an expert. The educational articles and videos provide you with basic information about trading, and escalate to advanced topics. For those who prefer visual aid, Tickmill educational videos are all available and in high quality. The Demo Account is also available for traders who would like a more hands-on approach on learning. You will find the Demo Account allows you trade on real-time and real market conditions.

Client Education Resources

  • Platform Tutorial Videos
  • Webinars
  • Educational Articles
  • Educational Videos
  • Demo Account

How To Open a Demo Account

Step One: Fill in your personal information in the online application and your Demo Account is opened.

Tickmill Demo Step One

Step One: Fill in your personal information in the online application and your Demo Account is opened.

Conclusion

Tickmill is a Forex and CFD trading broker that has been active since 2014, and it has more than 160,000 satisfied clients. With its low trading fees and non-trading fees, this Forex broker allows you to reach your full trading potential without having to concern yourself with additional fees.

Tickmill is regulated by three top-tier financial regulators around the world, and value the protection of client funds and client information. You will find that client funds are stored in segregated accounts, along with the provision of negative balance protection and investor protection.

Overall, Tickmill is a safe and trustworthy Forex broker that creates an optimal trading environment for its users.

tickmill
$100
Min. Deposit
$100
Bonus
Regulated by CySEC, FCA, FSA
Leverage1:1000
Customer Support24/5
Open Account

Tickmill Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is Tickmill A Good Broker?

Tickmill offers several types of trading accounts on two different trading platforms. You will find that Tickmill offers very low trading and non-trading fees, making it one of the lowest Forex broker commissions in the trading industry. Tickmill offers different payment methods to withdraw funds and deposit funds into your trading account, with no additional charge.

Is Tickmill Legit?

Tickmill is a legitimate Forex trading broker that values the protection of client funds and information. This Forex trading broker provides traders with negative balance protection, which protects traders in the case that they reach a negative balance. In addition to the negative balance protection, Tickmill offers investor protection amount, in the possibility that the Forex trading broker reaches bankruptcy.

How Long Do Tickmill Withdrawals Take?

Tickmill withdrawals take approximately 1 business day.

What Is The Minimum Deposit For Tickmill?

The minimum deposit for Tickmill is 100USD, and the VIP Account requires a minimum deposit for 50,000USD and as a maintained balance.

Is Tickmill Regulated?

Tickmill is regulated by the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles (FSA). This Forex trading broker takes protective and preventive measures to look after client information and client funds.

Is Tickmill An ECN Broker?

Yes, Tickmill is a global ECN broker.

Is Tickmill Safe?

Tickmill is a safe and trustworthy Forex trading broker that stores client funds in segregated accounts that is kept isolated from corporate funds. In addition to storing client funds in segregated accounts, you will also find Tickmill provides negative balance protection and investor protection amount. Tickmill also conducts audit reports on a regular basis to prove its compliance to the financial regulators.