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In the fast-paced world of forex trading, choosing the right broker is crucial. Tickmill and Swissquote are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between Tickmill and Swissquote across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Tickmill and Swissquote, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, Swissquote earned a higher trust rating than Tickmill.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Tickmill has overall lower trading costs than Swissquote.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Swissquote and Tickmill offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Swissquote offers a greater variety of instruments compared to Tickmill:
For those interested in trading cryptocurrencies, Swissquote offers 12 cryptocurrencies, while Tickmill offers 9 cryptocurrencies. Therefore, Swissquote is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Swissquote charges a withdrawal fee and Tickmill does not. Overall, Tickmill has better deposit and withdrawal processes than Swissquote.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Tickmill has better educational support than Swissquote. Both Swissquote and Tickmill offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that Tickmill offers better research analysis than Swissquote and that both Swissquote and Tickmill offer frequent webinars.
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. 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.
A well-regulated broker, Swissquote is a good choice for experienced traders looking for excellent trading tools, a broad range of tradable assets, and flexible trading conditions on the Metatrader platforms.
Part of a larger Swiss banking group, Swissquote offers a range of non-brokerage financial services and is subject to considerably tighter regulation than most brokers. It offers trading on numerous assets, including indices, commodities, bonds, metals, and over 130 Forex pairs - one of the largest sets in the industry.
Because Swissquote targets professional traders, minimum deposits are high, starting at 1000 GBP on its entry-level account with spreads of 1.5 pips on the EUR/USD. Minimum deposits escalate quickly, with the Prime Account requiring a minimum deposit of 50,000 GBP, featuring spreads of 0.8 pips on the EUR/USD. With higher trading volumes, traders can access the Professional Account, with bespoke trading conditions, but a minimum deposit requirement of 500,000 GBP.
Swissquote offers the Metatrader suite of trading platforms with free access to an excellent selection of trading tools, including Autochartist, Metatrader Master Edition, and Trading Central. Most other brokers charge a premium for using these tools, which may justify why the minimum deposits on Swissquote's accounts are so high.
One significant drawback is the poor quality of Swissquote's customer service, which is rarely available on live chat or email.
For more detailed reviews, please read our comprehensive assessments of Tickmill and Swissquote.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
|---|---|---|---|---|---|---|---|
 | Yes |    | USD 0 | USD 10 | |||
 | No |  | USD 25 | USD 6 | |||
 | Yes | | USD 100 | USD 6 | |||
 | No |     | USD 100 | USD 9 | |||
 | No |  | USD 5 | USD 6 | |||
 | No |  | AUD 100 | USD 6 | |||
 | No | | USD 200 | USD 8 | |||
 | Yes | | USD 0 | USD 10 | |||
 | No |  | AUD 0 | USD 4.50 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
