Tickmill Broker Review

Opening an Account at Tickmill

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

Malaysian 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.  

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.

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:

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Broker

Autochartist

Trading Central

Trading View

Tickmill

Yes

No

No

AvaTrade

No

Yes

No

Pepperstone

Yes

No

Yes

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.  All written market analysis and educational materials are fully translated into Malay.

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

Tickmill

Yes

Yes

AvaTrade

Yes

Yes

Pepperstone

Yes

Yes

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.

Note that all analysis materials are available in Malay.

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, including Malay, via email, telephone, and live chat.    Telephone support is also available locally in Malaysia.  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, the Seychelles Financial Services Authority (FSA) and the Dubai Financial Services Authority (DFSA).  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 UK Ltd (DIFC Representative Office) is regulated by the Dubai Financial Services Authority: Reference No. F007663
• 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 Malaysian clients are directed to the FSA-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.