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Tickmill Broker Review

FX Scouts By Jeffrey Cammack Updated: October 9, 2019
Average Score
3 / 5
Min. Deposit USD 100
Max. Leverage 30:1
Min. Spread 0.0 pips
Regulators CySEC,FCA
Regulator Origin CySEC FCA
Broker Type STP

Summary

Tickmill Ltd is regulated by the Seychelles FSA (license: SD 008) and has been regulated by the FCA (license: 717270) since 2016. CySEC has regulated the European entity, Tickmill Europe Ltd (license: 278/15) since 2015.

Tickmill has been widely recognised by their industry peers, winning the Best Forex Execution Broker 2018 (UK Forex Awards) and Best Forex Trading Conditions 2017 (UK Forex Awards) for their handling of client order execution, and Best Forex CFD Broker 2018 (Jordan Forex Expo Awards).

More importantly for potential customers, Tickmill were recipients of the Most Trusted Broker 2017 (UK Global Brands magazine in Dubai) for a continual focus on keeping pricing competitive and maintaining a fair trading environment.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses $30 Welcome Bonus
Beginner Friendly Good
About our review process

Trading Conditions

Minimum Deposit USD 100
Base currencies USD,EUR,GBP,PLN
Number of FX Pairs 60+
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD 0.2
GBP / USD 0.9
USD / JPY 0.6

Company Details

Company name Vipro Markets Ltd.
Founded 2014
Website Visit Website
Type STP
Regulators CySEC,FCA
Office locations Eden Island,Mahe

Deposit & Withdrawal Methods

Supported Platforms for Tickmill

Tickmill Broker Detailed Review

Tickmill for Beginners

Tickmill does not have a traditional introductory course, but they do publish webinars and seminars to help new traders get their footing. They have also made available a detailed ebook which many new traders will find useful. Additionally, while the analysis blog and TradingView analysis tools do not explain the basics of trading, they do offer new perspectives on currency markets.

Educational Material

For new traders, Tickmill’s main resource is its downloadable ebook, but the webinars and seminars are also of great assistance.

The 46-page ebook, titled The Majors – Insights & Strategies, is well illustrated and a suitable replacement for an online course for beginners. The ebook covers Forex Trading Basics and how Forex trading works, an introduction to the Major Currency Pairs, Trading Strategies and the major types of Forex analysis. The ebook ends with a section of top tips which will give traders more confidence in their decisions.

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.

Tickmill has a schedule of free seminars around the world, which introduce traders to new areas of learning and also allows clients to meet brokers in person and create relationships.

Analysis Material

The Tickmill research team runs a regular blog which covers topics that relate to both fundamental and technical analysis. Research often covers different currency pairs and encourages traders to learn about market moving events outside of conventional news sources.

The blog is open to all readers and Tickmill allows traders to contact the author with questions about their article. This is unique among brokers, who typically shy away from one-to-one contact with traders when it comes to discussing specific investments.

Tickmill is also active on their TradingView Pro account where analysts are continually marking up charts. Even if traders are not going to take advantage of these trading opportunities, they are a great way to learn technical analysis from the pros.

Customer Support

Customer support is available by phone, email and live chat 24/5.

Trading Conditions

All accounts at Tickmill offer STP market executed trades in 0.1 seconds on 62 currency pairs in addition to CFDs on stock indices, metals, and bonds, without any dealing desk interference. Tickmill does not offer cryptocurrency CFDs.

The margin call and stop-out percentage differ for the retail and professional versions of the accounts where the margin call to stop-out for retail clients is 100% to 50%, and professional is 100% to 30%.

Clients can choose between four wallet currencies – USD, EUR, GBP, and PLN.

Account Types

Tickmill offers three different live accounts in addition to the demo account.  While trading conditions improve with the account type, the main differentiating factor is the initial deposit required.

Demo Account – A demo account is available for new traders and will remain open until there is no login for seven consecutive days.

Classic Account – This entry-level account requires a minimum deposit of 100 USD, and, like all Tickmill accounts, offers a Swap-free Islamic account option. The spreads start at 1.6 pips and maximum leverage is 1:500 – note that this is the only account that uses wider spreads instead of charging commission on each trade.

Pro Account – This account, also with a Swap-free Islamic option, requires a 100 USD minimum deposit and is the entry level account for professional traders. Tighter spreads are available in exchange for a commission of 2 USD per side per 100,000 (a standard lot) traded. This commission pricing and structure is an industry standard and is in line with what other STP brokers offer clients for the same services.

VIP Account – This account, with the same swap-free Islamic option, is for high volume professional traders and requires a 50,000 USD minimum deposit. The commission is reduced to 1 USD per side per 100,000 (a standard lot) traded which makes trading even more profitable. This is a very competitive professional account and offers excellent trading conditions.

Spreads and Commissions

The minimum spread on the classic account is 1.6 pips with zero commission. The minimum spread on the Pro and VIP accounts is 0.0 pips with a commission of 2 USD per side per standard lot trade and 1 USD per side per standard lot traded, respectively.

Deposit and Withdrawal Fees

Tickmill takes deposits through a variety of global and local methods, under a Zero Fees Policy. They include:

  • Visa/Mastercard
  • Bank transfer
  • Neteller/Skrill
  • Fasapay
  • China Union Pay
  • Zotapay
  • Nganlouong
  • Qiwi
  • Globepay

The Zero Fees policy means that Tickmill will reimburse traders for any fees charged up to 100 USD. If you were charged, submit a copy of the bank statement showing the charge, and the amount will be credited. Should the trading account become inactive, Tickmill reserves the right to start reimbursing transfer fees.

Trading Platforms

Tickmill supports MetaTrader4 (MT4) and the associated web and mobile applications. MT4, is the industry leader and the most common trading platform for CFD traders.

There are many advantages of signing up with an MT4 broker and using MT4 for trading:

  • The MT4 community is vast, as is the amount of the text and video resources to support both new and experienced traders.
  • The MT4 EA (Expert Advisor) community of developers is very active, so renting or buying algorithmic trading software is very easy.
  • MT4 has very low system requirements, so a new device or computer is not necessary to get started.

Trading Tools

Tickmill also provides a number of useful trading tools.

AutoChartist is a third-party automated chart analysis tool which 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 adds little complication to the platform while providing additional analysis. Autochartist is a common technical analysis tool among traders, so training videos are easy to find online. Tickmill offers AutoChartist free of charge to all live accounts and the demo account on a delay of five candlesticks.

Another common third-party trading tool available on Tickmill is Myfxbook AutoTrade, which is a cross-broker social trading platform that allows for copy trading without the need for additional software.

Channel Down on US Dollar South African Rand

The One-click trading MT4 Expert Advisor (EA) is designed to make common trading mechanisms more accessible, which facilitates trading and removes unnecessary navigation between windows and charts. This EA does not overly simplify MT4, but it does make trading on the platform less complicated.

Tickmill VPS has partnered with BeeksFX to provide discounted VPS services to clients. While many brokers will include VPS as a free service for active traders, VPS has chosen to partner with a leading 3rd party provider and asks clients to take on the additional cost.

Mobile Trading Apps

MetaTrader4 (MT4) is also available on IOS, Android and Windows mobile phone and tablets. The app will connect to the same account as the desktop software, keeping the trading experience synchronised, and traders mobile.

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 that includes a detailed breakdown of the Tickmill offering. 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.

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: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with Tickmill Ltd.

Overview

Tickmill is an award-winning and trustworthy STP broker that relies heavily on industry-standard platforms to enable fast execution. With a strong education section, additional premium tools offered to traders for no extra cost, and good trading conditions, Tickmill should be a top choice in Forex brokerage.

Most retail CFD accounts lose money. Your capital is at risk.

Compare Brokers

Overall Rating 3/5 4/5 4/5
Minimum Deposit USD 100 USD 5 USD 100
Regulation
Broker Type STP Market Maker Market Maker
Read Full Review Read Full Review
Trading Conditions 4 / 5 4 / 5 4 / 5
Trading Platforms 2 / 5 4 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
% Lose with this broker 81% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.0 pips 0.0 pips 0.7 pips
Hedging
Scalping
Account Types
  • Standard,Vip
  • Mini,Standard
  • Standard
Trading Platforms MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, SticPay, Unionpay, Fasapay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal
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Overall Rating 4 / 5 4 / 5 4 / 5
Min. Deposit USD 100 USD 5 USD 100
Regulation
Broker Type STP Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trading Conditions 4 / 5 4 / 5 4 / 5
Trading Platforms 2 / 5 4 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
Risk Disclaimer 81% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.0 pips 0.0 pips 0.7 pips
Hedging Allowed Yes Yes Yes
Scalping Allowed Yes Yes Yes
Platforms MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Bank Transfer, Visa, Mastercard, Skrill, Neteller, SticPay, Unionpay, Fasapay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal

Share your knowledge

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.