Tickmill Review

Tickmill is a global forex and CFD broker that operates across several jurisdictions including Africa, Asia, and Europe. The broker boasts 350,000 client accounts from over 200 countries and has executed more than 385 million trades. Tickmill was founded in 2014 and headquartered in London, UK.

Courtest of its pricing and execution engines in London LD4, New York NY4, and Tokyo TY3; as well as liquidity powered by tier1 banks and licensed providers, Tickmill offers low spreads starting from 0.0 pips. Orders placed by traders are executed in less than a second; the broker says it averages 0.15 seconds. It operates the No Dealing Desk (NDD) brokerage model and there are no requotes.

Tickmill has been severally honored with awards in recognition of its outstanding performance. It has won over 15 awards over the years.

Pros

• Multiple regulation in sevaral countries; FCA in UK, CySEC in Cyprus, FSA Seychelles, Labuan FSA and South African FSCA.
• Tight spreads starting from 0.0 pips.
• No deposit and withdrawal fees.
• Market news and analysis are provided.
• Free Autochartist is availlable to all clients.
• Social trading through myfxbook and Pelican Trading.

Cons

• Limited assets; no stock CFDs, Cryptos, ETFs, etc.
• Clients have no other choice of platform except the MT4.
• US clients are not allowed to register.

Tickmill Security and Regulation

Tickmill is regulated in 5 jurisdictions as follows:

• Seychelles Financial Services Authority (FSA) regulates the global brand; Tickmill Ltd.
• Financial Conduct Authority (FCA) of the United Kingdom regulates Tickmill UK Ltd.
• Cyprus Securities and Exchange Commission (CySEC) authorized and regulates Tickmill Europe Ltd.
• Tickmill Asia Ltd is regulated by Labuan Financial Services Authority (Labuan FSA)
• Financial Sector Conduct Authority (FSCA) of South Africa is the dedicated authority that regulates Tickmill South Africa (Pty).

The broker is also registered with the BaFin of Germany, CONSOB of Italy, ACPR of France, and CNMV of Spain. The broker is MiFID II compliant which authorizes it to operate within the European Economic Area (EEA).

Tickmill Europe Ltd is a member of the Investor Compensation Fund (ICF) meaning that European clients are protected by the scheme. So, if Tickmill goes bankrupt, ICF will refund investors their deposits up to €20,000.

Similarly, UK clients are protected by the Financial Services Compensation Scheme (FSCS). So, if the broker abruptly becomes insolvent, the FSCS will pay investors up to £85,000.

In line with the regulator’s provisions, clients’ funds are segregated in the best commercial banks. So, it is safe even if the brokerage fails, the funds will be returned to the original depositors.

Tickmill Payment Methods

Tickmill asserts that it has a zero policy on deposits and withdrawals. The broker even promises to compensate its clients for deposit fees (up to $100) charged on bank transfers from $5,000 and above. The payment method available to you may depend on your country of residence. Generally, the minimum deposit is $100 while the minimum withdrawal amount is $25.

The following payment options are available:

Bank transfer

Tickmill will process all withdrawal requests and received deposits in one working day. The available currencies are EUR, GBP, and USD.

Credit/Debit cards

Popular cards such as Visa and MasterCard are acceptable. Deposits are instant while withdrawals are processed within a working day.

e-wallets

The available e-wallets are Sticpay, Skrill, Neteller, QIWI, WebMoney, and FasaPay. Deposits are usually processed instantly but withdrawals may take up to 24 hours.

NganLuong.vn is available in Vietnamese Dong (VND) with a minimum deposit of 2,000,000.

China UnionPay

It is accepted in CNY only. The minimum deposit is $100/£100/€100 or ¥700. Deposits are processed within 1-2 hours while withdrawals are completed in one working day.

Opening an account

Click on the ‘create account’ button to open a new account. Choose, your regulator and fill the form which has two steps. First, enter your personal details and proceed to the next page where you will need to enter your address, academic level, source of funds, trading knowledge and experience, etc. Upon submission,  a ‘Registration successful’ message is displayed. The message urges you to validate your e-mail within the next 48 hours.

After email verification, you can log into the Tickmill personal area where you will be prompted to upload your identification and proof of address documents. The waiting time could be up to 24 hours before your new account is approved. After that, you can make deposits, download the trading platforms and commence trading.

Tickmill Fees and account types

The account currencies available are USD, EUR, and GBP. The maximum leverage on all accounts is 1:500 and floating spreads are offered. Unlike most brokers, Tickmill charges no inactivity fees.

Tickmill offers 3 account types as follows:

Classic account

This account is designed for new traders as well as experienced traders who prefer to pay spread charges. The minimum deposit is $100 and there are no commissions. The spreads start from 1.6 pips.

Pro Account

Best for experienced traders, this account can be opened with a minimum deposit of $100. The floating spreads start from 0.0 pips and commissions of $2 per side per lot traded are charged on trades except for stock indices, oil, and bond CFDs.

VIP account

This account is exclusively for high-volume professional traders. The minimum balance required to have a VIP account is $50,000. The spread starts from 0.0 pips and commissions of $1 per lot per side are charged on forex trades. However, there are no commissions on indices, oil, and bond CFDs.

Swap free Islamic accounts

Tickmill offers swap-free accounts on all 3 account types. The client first creates the account type of his choice and then requests for conversion to an Islamic account. Such requests are normally processed in one business day and the client is notified by email when the account is ready. The trading conditions are similar to normal accounts except that Swap-free accounts are compliant with Sharia law and do not incur overnight charges. However, when an exotic pair is held overnight for 3 consecutive days, it is subject to daily charges. The charge ranges from $0.4 to $50.

Demo account

Click on the demo account button and fill the ensuing form in order to open a new demo account. It is available on all account types and in the following currencies: USD, EUR, GBP, and PLN. You can fund the demo account with virtual funds up to 5,000,000 of your account currency.

Tickmill Trading platform

Tickmill clients can only trade on the MT4 trading platform. The MT4 is a powerful platform popularly used by forex traders across the world. It supports the MQL language which is used to code Expert advisors (EAs), technical indicators, and other plugin apps. These apps are installed on the MT4 to extend its features. EAs are used to automate strategies; it opens and closes trades without trader intervention. The platform comes with multiple tools for order management, risk management as well as technical analysis. Trade executions are fast and you can access the MetaTrader market to acquire, rent or purchase more trading tools.

Tickmill MT4 is available in WebTrader version, Mac os version, windows desktop version, android app and iOS app versions.

Instruments

The following trading instruments are available:

• 62 forex pairs
• 14 indices
• 2 oils
• 2 Metals
• 4 Bonds

Support

The Tickmill client support desk works from 7 am to 4 pm Mondays to Friday. The team can be reached via phone calls and email. The online webchat support is available in 17 languages. Check if the support assistant in your language is available before initiating a chat. You can also submit your inquiries through a ‘Get in touch form which is available on the  ‘Contact us page of the Tickmill website. Tickmill’s social media presence includes Facebook, Twitter, Linked In, YouTube, and Instagram.

Webinars

Tickmill webinars are designed to help traders with trading knowledge. It comes up in several languages as hosted by the broker’s team of analysts.

eBooks

Tickmill has 5 free downloadable eBooks namely:

• Introduction to Fibonacci analysis
• Trading the majors: insights and Strategies
• Knowing your trading costs
• An In-Depth Look at Risk Management
• The Ultimate Guide to becoming an IB

Videos

There are about 75 video lessons grouped under the following headings:

Forex trading, Market analysis, trading psychology, Social trading, trading strategies, stocks, MT4, CFDs, Technical indicators, and Managed accounts. The first two videos in each group are free to all website visitors but you need to register in order to watch the remaining videos. The videos are very clear, loud, short, and animated.

Forex Glossary

Over 150 trading terms are defined in this section of Tickmill’s website.

Tickmill Blog

The blog updates clients with important news and analysis from forex trading experts. The articles are classified as follows:

• Technical analysis
• Fundamental analysis
• Market insights
• Articles

The broker asserts that all articles are provided for informational purposes only.

Tickmill Forex Calculators

There are 3 forex calculators: Currency converter, margin calculator, and Pips calculator.

Economic Calendar

This calendars show the times and dates of upcoming economic events and their forecasted impact on the financial markets. It is customizable and very important in fundamental analysis.

Autochartist

This is a software tool that searches through multiple charts identifying patterns and trading opportunities with speed and accuracy. It is available to all Tickmill live accounts at no extra costs and even to demo accounts but with a 5 candlesticks delay. It is accessible from the clients’ area of the website and also available as an MT4 plugin app.

Tickmill Copy Trading

Tickmill provides social trading to its clients via myfxbook Copy Trade feature. Clients only need to connect their MT4 accounts to Myfxbook; a popular social trading platform. You can become an investor by selecting expert traders to copy their trades without even knowing how to trade. The expert traders are compensated through commissions when they make profits.

Pelican trading

Tickmill clients can also connect their MT4 accounts to Pelican for auto copy trade, chatting, and learning from expert traders. The platform gives traders the flexibility to copy several strategies, provide signals, and control risk. Pelican’s app can be accessed via Android and iOS apps.

VPS

Tickmill has partnered with BeeksFx; a renowned firm that provides cloud computing and server technology services to retail and financial institutions including forex traders. Tickmill clients will get a 20% discount on all VPS packages. BeekFx has bronze, Silver, and Gold packages priced at £27, £48, and £85 respectively payable every month.

Tickmill Trader of the month

Every month, Tickmill chooses the most profitable trader and rewards him with a gift of $1,000. The broker states that in making its choice, money and risk management skills, as well as good profits, are put into consideration. There is a ‘Wall of Fame’ showcasing previous winners as well as their trading statistics, interviews, and other expert advice from the champions.

Tickmill’s NFP Machine

Tickmill picks an instrument during the US Non-Farm Payroll week and asks traders to guess its price on the broker’s MT4 platform by 4 pm; that is, 30 minutes after the NFP release. The closest guess wins $200 while a perfect hit will win $500.

Tickmill $30 Welcome account

New clients are encouraged to fill the short form in order to get a welcome account preloaded with free $30 for trading purposes. No deposits are required and any profit made from trading is yours for keeps. Leverage from 1:100 to 1:500 is available on this account.

Summary

Tickmill is a multiple award-winning global forex and CFD broker that offers its trading services via the sophisticated MT4 trading platform. Clients’ funds are kept in segregated bank accounts. The broker is regulated in five jurisdictions and boasts of clients from over 200 countries.

Tickmill supports its clients with multiple trading tools; market analysis, social trading, Autochartist signals, VPS and educational resources including videos and eBooks. New traders can choose the $30 welcome account and traders are encouraged with monthly contests and promos. There are no charges on both deposits and withdrawals.

But, when compared to other brokers, Tickmill has a small number of tradable assets. Apart from the MT4, there is no other trading platform available. This is a limitation for traders that prefer the newer MT5 or other trading platforms. Generally, Tickmill is a well regulated broker that offers good services.