Tickmill Review

Tickmill is a well-known online forex and CFD broker that has been growing in popularity over recent years. With a reputation for offering competitive spreads, low fees, and a user-friendly trading experience, Tickmill has attracted traders from all over the world. But is Tickmill the right broker for you? In this Tickmill review, we will cover everything you need to know, from their trading platforms and fees to the pros and cons of using Tickmill.

Tickmill Overview

Tickmill is an international forex and CFD broker founded in 2014. The company has offices in the UK, Cyprus, Seychelles, and Malaysia, among other countries. It is regulated by reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).

Tickmill offers access to a wide range of markets, including forex, indices, commodities, bonds, and cryptocurrencies. The broker is known for its focus on providing an efficient and reliable trading environment, especially for forex traders.

Key Features of Tickmill

Regulation and Security

Regulation and Security One of the most important factors when choosing a broker is regulation, and Tickmill shines in this area. It is regulated by the FCA in the UK, CySEC in Cyprus, and FSA in Seychelles, ensuring a high level of trust and security. Client funds are also kept in segregated accounts, providing an additional layer of protection.

Account Types

Tickmill offers three main account types: Classic, Pro, and VIP accounts. Here’s a brief overview:

• Classic Account: No commissions, but the spreads start from 1.6 pips.
• Pro Account: Lower spreads starting from 0.0 pips, but there is a commission of $2 per side per 100,000 units traded.
• VIP Account: Designed for high-volume traders with deposits over $50,000. It offers the same low spreads as the Pro account but with a reduced commission of $1 per side per 100,000 units. All account types provide access to over 80 instruments, including forex, indices, and commodities.

Trading Platforms

Tickmill provides traders with the industry-standard MetaTrader 4 (MT4) platform, known for its ease of use, customizability, and reliability. Additionally, Tickmill has introduced MetaTrader 5 (MT5), which comes with enhanced features such as more timeframes, advanced order types, and improved charting tools. Both platforms are available on desktop, mobile, and web-based versions, allowing traders to access the markets from anywhere.

Leverage

Tickmill offers leverage of up to 1:500 for international clients, depending on the instrument being traded. However, leverage is restricted to 1:30 for clients within the European Union, as per regulatory requirements under ESMA.

Spreads and Fees

Tickmill is known for offering competitive spreads. For the Pro and VIP accounts, spreads start from 0.0 pips, which is excellent for active traders who prefer lower costs. The Classic account spreads start from 1.6 pips, but there are no commissions on trades in this account type. Additionally, Tickmill charges no fees for deposits or withdrawals, which makes it a cost-effective option for traders.

Deposit and Withdrawal Options

Tickmill offers a variety of payment methods for deposits and withdrawals, including:

• Bank wire transfers
• Credit/Debit cards (Visa, MasterCard)
• E-wallets (Skrill, Neteller)
• Local bank transfers Most withdrawal requests are processed within one business day, and there are no additional fees for using any of these payment methods.

Customer Support

Tickmill provides customer support via live chat, email, and phone in multiple languages, ensuring that traders can get help when needed. The support team is known for being responsive and professional, making it easy to resolve any issues or inquiries.

Educational Resources

Tickmill offers a wide range of educational resources for traders of all levels. Their resources include webinars, video tutorials, eBooks, and articles on forex and CFD trading strategies. This makes Tickmill a good choice for beginners looking to learn the ropes and improve their trading skills.

Trading Tools

Tickmill offers additional trading tools like Autochartist, a powerful technical analysis tool that helps traders identify key trading opportunities. This tool is free for Tickmill clients and can be integrated with MT4 and MT5 platforms.

Pros and Cons of Tickmill

Pros

• Low Spreads: Tickmill is known for its low spreads, especially for Pro and VIP account holders.
• No Deposit/Withdrawal Fees: Traders can deposit and withdraw funds without worrying about extra charges.
• Multiple Regulations: With regulation from FCA, CySEC, and FSA, Tickmill offers high trust and security.
• Fast Execution: Tickmill boasts fast order execution, crucial for active traders.
• Educational Resources: A wide variety of learning tools make Tickmill a good option for beginner and intermediate traders.

Cos

• Limited Account Options for Beginners: While the Classic account is commission-free, the spreads are not as competitive as those of some other brokers.
• Limited Markets: Although Tickmill offers a decent range of instruments, it has fewer options compared to some competitors in terms of stocks and ETFs.
• No Proprietary Trading Platform: Tickmill relies solely on MT4 and MT5, so traders looking for a unique trading platform may be disappointed.

Who is Tickmill Best For?

Tickmill is best suited for:

• Forex Traders: With low spreads, fast execution, and high leverage options, Tickmill is ideal for forex traders.
• Active Traders: The Pro and VIP accounts offer highly competitive spreads and commissions, making Tickmill a good choice for active traders who trade frequently.
• Traders Seeking Regulation: With multiple regulatory bodies overseeing Tickmill, it is a good option for traders who prioritize security and compliance.

Is Tickmill Safe?

Yes, Tickmill is considered a safe and reliable broker. It is regulated by reputable authorities such as the FCA and CySEC, and it offers segregated accounts to protect client funds. Additionally, Tickmill offers negative balance protection, ensuring that clients cannot lose more than their account balance.

Bottom Line

Tickmill is a well-established forex and CFD broker that offers a competitive trading environment, especially for forex traders. With its low spreads, no deposit or withdrawal fees, and strong regulatory oversight, Tickmill provides a safe and cost-effective platform for traders at all levels.

If you’re an active trader looking for low fees and fast execution, Tickmill could be a great choice for you. However, beginners may want to consider other options with more user-friendly account structures or a wider range of instruments. Overall, Tickmill stands out as a reputable broker offering a solid trading experience.

Frequently Asked Questions About Tickmill