Tickmill Broker Review

Author By Jeffrey Cammack
Updated: June 20, 2022
Overall Rating
4.48 4.48 / 5
Rated #15 of 57 Recommended Brokers
🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD 4
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts Australian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, LFSA, FSCA, and the FSA-Seychelles.
Last updated on 20 Jun 2022
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

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Our verdict on Tickmill

A trustworthy broker with MT4 and MT5 support and two of the lowest-cost trading accounts in the industry, Tickmill provides a perfect trading environment for serious beginners and more experienced traders. However, Australian traders may be concerned that they will be onboarded through Tickmill’s Seychelles-based entity, which provides less regulatory oversight than Tickmill’s other entities. 

Tickmill provides two commission-based accounts with low spreads (0.0 pips on the EUR/USD) and some of the lowest commissions in the industry. A standard account is also available, with no commission and spreads starting at 1.6 pips on the EUR/USD. Education and market analysis are both excellent and experienced traders will appreciate the wide range of currency pairs.

Overall, while Tickmill’s standard account is more expensive than other similar brokers, the two low-cost commission accounts make it an excellent choice of broker for Metatrader users looking for a new broker.

🏦  Min. DepositUSD 100
🛡️  Regulated By
💵  Trading Cost 
USD USD 4
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
Best Trading Conditions

Overall Summary

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

Account Information

Base Currencies
USD, EUR, GBP, PLN
Number of FX Pairs
62
Crypto Pairs
8
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Pro
Trading Desk
Commission
4 USD / lot
EUR/USD
0.10 pips
GBP/USD
0.30 pips
USD/JPY
0.10 pips
Negative Balance Protection

Company Details

Company Name
Tickmill Ltd
Founded
2014
Website
Website Language
English, Malay, Polish, Indonesian, Arabic, Thai, Chinese, Vietnamese, Portuguese, Spanish
Support Language
English, Malay, Polish, Indonesian, Arabic, Thai, Chinese, Vietnamese, Portuguese
Office Locations
Seychelles, Cyprus, Malaysia, United Kingdom, South Africa

Pros

  • Tight spreads
  • Well regulated
  • Fast and free withdrawals

Cons

  • Limited base currencies

Is Tickmill safe?

Tickmill maintains regulation from some top-tier authorities and Australians will be onboarded through the UK-based entity regulated by the Financial Conduct Authority. 

Regulation: Tickmill is regulated by CySEC of Cyprus, the LFSA of Malaysia, the South African FCSA, and the UK’s FCA, through which Australians will be onboarded.  While Australians won’t benefit from local protection and their money won’t be segregated at local banks, we still consider Tickmill a safe broker to trade with. See below for Tickmill’s sign-up notice:

Tickmill's Sign Up

Safety Features: Although the lack of ASIC oversight may be off-putting for some Australian traders, the FCA is considered one of the best regulators in the world. Additionally, Australian clients can be sure that their funds will be segregated from Tickmill’s operating capital at top-tier banks, and it provides all clients with negative balance protection, which means that traders cannot lose more than their initial deposit. 

Company Details:

Scroll for more detailsPreviousNext
Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
FCA
LFSA
FSCA
FSA-Seychelles
STP
2014
Seychelles, Cyprus, Malaysia, United Kingdom, South Africa
None

Tickmill’s Trading Assets

Tickmill’s range of financial instruments to trade is smaller than most other brokers, but we were pleased to see that at the end of 2021 it added a range of share CFDs to its offering. 

Trading Instruments and Leverage:

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Financial Instrument
Number of Assets
Leverage
Bonds
4
10:1
Cryptocurrencies
8
2:1
Forex
62
30:1
Futures
6
Unleveraged
Indices
27
20:1
Metals
2
30:1

Forex: Tickmill offers 62+ currency pairs for trading, including majors (EUR/USD, GBP/USD, and USD/JPY) and minors (NZD/CAD, EUR/JPY, and GBP/NZD), and exotics (EUR/NOK, USD/SEK and EUR/ZAR). At Tickmill, there are more pairs to trade than most other Forex brokers. 

Indices: Tickmill offers trading on 27 indices, which is average compared to other similar brokers, but includes the likes of the AUS200, UK100, US30, and US500. Both Index Futures and Index Cash CFDs are available.

Metals: Tickmill offers three metals, whereas most brokers only offer trading on between 5 – 10 Metals. These include gold and silver.  

Bonds: Tickmill offers four bonds for trading, which is average compared to other similar brokers.  

Share CFDs: As of the end of 2021, Tickmill added a small range of share CFDs, including the big names in the US and UK. With time we are sure this range will grow. 

Cryptocurrencies: Tickmill only offers eight cryptocurrencies for trading, including Bitcoin, Ethereum, and Litecoin.  However, these are only available for professional traders.

Apart from the wide selection of Forex pairs, Tickmill has a disappointing range of CFDs, but we were pleased to see that it is now offering a range of share CFDs.

Tickmill’s Accounts and Trading Fees

Tickmill offers three live accounts, which is average compared to other brokers and its trading fees are lower than average on two of its three accounts. 

Trading Fees: The ongoing trading costs at Tickmill are extremely competitive on its two commission-based accounts but higher than average on its commission-free Classic Account.  However, at 100 USD, the minimum deposits on the Classic and Pro accounts make them accessible to most traders. 

Low Non-trading Fees: At Tickmill no fees are charged for deposits or withdrawals, and Tickmill does not charge inactivity fees on dormant accounts.  This is remarkable for an industry that charges fees for most transactions.  

Tickmill’s Account Trading Costs:

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Trading account
Min. Deposit
Min. Spread EUR/USD
Commission
Trading Cost (USD)
Classic
USD 100
1.60
Spread Only
16
Pro
USD 100
0.0
4 USD / lot
4
VIP
USD 50000
0.0
2 USD / lot
2

As you can see from the table above, the trading costs on the VIP Account are lower than the costs on the other two accounts and significantly lower than those charged by other brokers on similar accounts. However, traders need to maintain a minimum account balance of 50,000 USD. The trading costs on the Pro Account are also highly competitive, and it only requires a minimum deposit of 100 USD.  It should be noted that Tickmill charges some of the lowest commissions in the industry – the commissions at most other brokers tend to be 7 USD (round turn) per lot traded.

Tickmill Accs

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, which is wider than other similar brokers. 

Pro-Account

This account requires a 100 USD minimum deposit and is an entry-level account for professional traders. Tight variable spreads (starting at 0.00 pips) are available in exchange for a commission of 4 USD (round turn) per lot. Note that the stop out and limit levels for Pro account users are zero.

VIP Account

With excellent trading conditions, this account is for high-volume professional traders but requires a 50,000 USD minimum deposit. The commission is reduced to 2 USD (round turn) per lot and spreads are 0.0 pips (EUR/USD), making this account one of the lowest-cost accounts in the industry.

Deposits and Withdrawals

Tickmill offers a wide range of funding and withdrawal methods, its processing times are fast, and no fees are charged for deposits or withdrawals.  

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.  

Trading Account Currencies: At Tickmill, traders can only choose from three base currencies: USD, GBP, and EUR. This is limited compared to most other international brokers and is disappointing for Australians who will likely have bank accounts denominated in AUD and will have to pay conversion fees on all deposits and withdrawals. 

Deposit and Withdrawal Fees: Tickmill offers commission-free deposit and withdrawal options that can be performed on the broker’s trading platform. The minimum withdrawal amount for all payment methods is 25 USD. Tickmill also has a Zero Fee policy and will reimburse traders for any third-party fees charged up to 100 USD on deposits of over 5,000 USD.

  • Visa/Mastercard: Deposits are instant and free.  Withdrawals are free and are processed within one day.  
  • Bank transfers: Deposits and withdrawals are free and are processed within one day.  
  • Neteller/Skrill: Deposits are instant and free.  Withdrawals are free and are processed within one day.  
  • Paypal: Deposits are instant and free.  Withdrawals are free and are processed within one day.  

Tickmill Payment Methods

Mobile Trading Apps

Tickmill’s mobile trading platforms are average compared to other similar brokers.

MetaTrader4 (MT4) and Metatrader 5 (MT5) are 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.

Tickmill Mobile trading

Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.

Tickmill’s Other Trading Platforms

Tickmill offers full support for the MT4 platform and at the end of 2021, added MT5 to its trading arsenal.  This highlights how Tickmill continually forms partnerships to improve trading conditions for its expanding client base.

All platform choices are free to use, all can be downloaded to your PC and all have web versions of the platform. All platforms are also available on mobile Android and iOS devices.

Metatrader 4

Having established itself as the industry-leading platform, Metatrader 4 (MT4) is the most reliable and popular platform in existence. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. 

Tickmill’s MT4 platform is the standard version of MT4, and while numerous upgrades are available, most of them come at a price.  

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.  In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.

Metatrader 5

Developed in 2010, MT5 is the newer version of its predecessor, MT4.  MT5 is more powerful and faster than MT4 when it comes to back-testing functionality for automated trading algorithms.  It also has a built-in news feed, market depth indicator, economic calendar, and trades can be made on the charts.  

Again, only the standard version of MT5 is available at Tickmill.  However, support for MT5 means that Tickmill can enhance its asset offering, making it more appealing to experienced traders.

While MT4 and MT5 are both excellent trading platforms, many other CFD brokers also offer their own web-based platforms, which tend to be easier to use for beginner traders. On the other hand, the benefit of Tickmill offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.  Additionally, there are thousands of plugins and tools available for the MetaTrader platforms. 

Trading Platform Comparison:

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Broker
Platform Choice
Copy Trading
Platforms
Tickmill
11110.54.5/ 5
AvaTrade
11110.54.5/ 5
Avatrade Social
AvaOptions

Opening an Account at Tickmill

Tickmill has a fast and hassle-free account opening process, with quick verification.

Australian traders can open an account at Tickmill but need to meet the minimum deposit requirement of 100 USD to do so.  In order to open a VIP Account, traders must maintain a minimum balance of 50,000 USD.

We tested the account opening process, which took approximately 10 minutes to complete, and once our documentation had been submitted, our accounts were ready for trading within a few hours. 

Tickmill offers both corporate and individual accounts, but we will outline the four-step process for opening an individual account:

  1. Register an account.  This can be done by clicking on the “Create Account” button.  Traders are required to fill in their personal information (name, email address, telephone number, and date of birth), and trading knowledge, and create a password.
  2. The next step is to confirm your identity.  Tickmill will need two documents from you:
    1. A photo ID (passport, driver’s license, or national ID card) and; 
    2. A secondary ID (a bank or utility statement with your full name and address dated in the last three months).
  3. The third step requires choosing your trading account, preferred base currency, and level of leverage.
  4. Lastly, you can download the trading platform (MT4/MT5), and start trading.

Overall, Tickmill’s account-opening process is quick and efficient, and accounts are generally ready for trading within a matter of hours. 

Trading Tools

Tickmill offers an excellent range of trading tools compared to other similar brokers.

Tickmill offers a number of excellent trading tools, including Autochartist, Myfxbook, PelicanTrading, a VPS service, an advanced trading toolkit, and a one-click trading plugin.  Autochartist is free of charge for all registered users, while other third-party tools such as myfxbook, Pelican Trading, and VPS hosting incur an extra cost on the part of the trader.

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. Autochartist is one of the best analytics tools on the market, and Tickmill does well to provide this service to its clients. Tickmill offers AutoChartist free of charge to all live and demo account holders.  

Tickmill Autochartist

Myfxbook

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. Myfxbook is available at an extra cost, and traders will have to contact myfxbook directly to find out more. Myfxbook is lauded as one of the best social trading platforms available.

Tickmill Copy trading

Pelican Trading

Like Myfxbook Auto Trade, Pelican is an innovative all-in-one mobile auto-copying application that allows traders to follow and copy trades from other successful traders.  Pelican has a user-friendly interface that provides a platform to learn from and chat to other traders and mentors.  Users can also track and analyse the performance of other traders.  This platform is ideal for beginners starting out in the trading space.  Again, traders will have to contact Pelican directly to find out about the costs associated with using the service.  

VPS Service

Tickmill VPS has partnered with BeeksFX to provide a discounted VPS service to clients. As one of the largest Forex VPS providers, BeeksFX gives users access to very low latency networks and expert advisors. 

Tickmill clients are entitled to the following exclusive benefits with BeeksFX:

  • 20% discount on all packages.
  • Quick setup and a 24/7 live chat and email support.
  • Negligible latency due to VPS servers’ adjacent location to Tickmill.
  • 100% uptime guarantee.

No shared resources, and increased control.

Advanced Trader Toolkit

Free to all Tickmill clients, the Advanced Trader Toolkit gives traders access to institutional quality technology, including advanced trading tools, user-configurable news and information, and trade analysis. It also includes an array of sophisticated alarms and messaging systems, and live sentiment and correlation tracking.  This tool is appropriate for more experienced traders refining their trading strategies. Some of tools in the package include:

  • Trade Terminal: A feature-rich professional trade execution and analysis tool, providing several trading features and order controls that are not included in MT4 or MT5.
  • Connect: A customisable news feed aggregator and interactive economic calendar.
  • Mini Terminal: Tailored to the MT4, manage your execution with context in a specific trading chart.
  • Correlation Matrix and Correlation Trader: These tools work together to show correlations between pairs of trading symbols. It functions with any symbols available in the trading platform, allowing a calculation of the correlation between multiple asset classes against Forex. The Correlation Trader will then allow for detailed inspection of the correlation between any two instruments.
  • Sentiment Trader: Allows traders to feel the markets out with real-time long and short positioning data, historic sentiment, and a dashboard for multiple instrument sentiment analysis.

One-Click Trading

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.

Overall, Tickmill offers some of the best trading tools in the industry, with tools to suit both beginners and more experienced traders. 

Trading Tools Comparison: 

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Tickmill
AvaTrade
Pepperstone
 

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 an excellent selection of educational materials.  Most of it is focused on beginners, but there are sections that will appeal to more experienced traders. It also offers a free demo account so traders can practice using the trading platforms before opening a real account.

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.

Ebooks: The e-books cover Forex Trading Basics and how Forex trading works, introducing the Major Currency Pairs, Trading Strategies, an Introduction to Fibonacci Analysis, and the major types of Forex analysis.  

Video Tutorials: Tickmill offers a range of video tutorials, some of which can only be accessed through registering a live account.  Video tutorials cover various topics, including Forex Trading, Market Analysis, Trading Psychology, Trading Strategies, Social Trading, CFDs, Managed Accounts, and Technical Indicators.  

Infographics: Tickmill provides excellent infographics that detail key facts and possible scenarios of various events, and how these impact the markets.  

Webinars: 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.

Seminars: Tickmill has a schedule of free seminars worldwide, which introduce clients to trading concepts, and provides networking opportunities.

Demo Accounts: 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.  Demo accounts expire if there is no login for seven consecutive days.

The brokerage also offers a trading glossary which acts as another source of education, and where basic terms are described in short sentences.

Education Comparison:

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Tickmill
High
AvaTrade
High
Pepperstone
Medium

Analysis Material

Tickmill’s analysis material is excellent compared to other similar brokers.  

The in-house Tickmill research team of eleven experts runs a regular blog covering both fundamental and technical analyses. The research provides information on market-moving events outside of conventional news sources.  These articles are updated throughout the day and are multi-format, including charts, videos, and written articles.  

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.

Customer Support

Tickmill offers high-quality customer support, however, it is only available from Monday to Friday during business hours.  

Customer support is available in 17 different languages, via email, telephone, and live chat. It does not, however, offer a call-back service. Traders should note that customer service is only available from Monday to Friday during business hours.

For the purposes of this review, we found the customer service extremely responsive and very knowledgeable.  It is clear that Tickmill has invested in training the customer service team as they were able to answer all our questions without hesitation. 

Safety and Industry Recognition

Regulation: Established in 2014 and headquartered in London, Tickmill has experienced extraordinary growth since its inception. It has over 110,000 traders on its books and an average monthly trading volume of over 120 billion USD. Tickmill is authorised and regulated 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.

Awards

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 MENA Dorex Broker 2021 (Cairo Virtual Expo)
  • Best Customer Service (Cairo Virtual Expo)
  • Best Commodities Broker 2020 (Rankia Markets Experience Expo)
  • Best Trading Experience 2020 (Forex Brokers Award 2020)
  • Most Reliable Broker 2020 (Online Personal Wealth Awards)
  • Best Forex Education Provider (Global Brands Magazine)
  • Best CFD Broker Asia 2019 (International Business Magazine
  •  Best Forex CFD Provider 2019 (Online Personal Wealth Awards)

Overall, although Tickmill’s Australian clients are directed to the FCA-regulated entity, it is regulated by a number of strong international regulators, has a long track record of responsible behaviour, and has received wide industry recognition.  On this basis, we deem Tickmill a trustworthy broker.  

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. 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.

Forex Broker Scoring

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: Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment. Please ensure you fully understand the risks and take appropriate care to manage your risk.

Overview

Tickmill is an award-winning and trustworthy broker that relies heavily on industry-standard platforms to enable fast execution. With a strong education section, the availability of both MT4 and MT5, additional premium tools offered to traders at no extra cost, and excellent trading conditions on its commission-based accounts, Tickmill appeals to the serious beginner and more experienced trader.

AlertAccepts Australian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, LFSA, FSCA, and the FSA-Seychelles.
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