TICKMILL REVIEW 2023: SHOULD YOU SIGN UP WITH THIS BROKER?

Tickmill was created in Seychelles in 2014. The core idea was to create an innovative trading environment for retail and institutional clients worldwide. The broker’s founding members were all traders with expertise in financial markets from Asia to North America.

That’s why they focused on providing low spreads with fast execution times. Tickmill partnered with BeeksFX in 2019 to provide its traders with a dependable, low-latency VPS option. It shows the broker wants to keep its promise of innovation.

Tickmill homepage

Tickmill is available in more than 200 countries. It shows how the broker has expanded since its inception. However, I’m sorry to tell you that you can’t open an account if you are from the US, Canada, Iran, North Korea, or Syria. The firm has recently received many awards including

• Best Forex Spreads 2022
• Best Forex Customer Service 2022
• Best Forex Trading Experience 2022

Tickmill has three homepages; international (Seychelles), UK, EU, Asia, and South Africa. Fortunately, you can switch between the pages to check the regulation. The broker is regulated by

• FCA (Financial Conduct Authority)
• CySEC (Cyprus Securities and Exchange Commission)
• FSCA (Financial Sector Conduct Authority)
• FSA (Financial Services Authority)
• LOFSA (Labuan Offshore Financial Services Authority)

International clients except those in the UK, South Africa, and Europe, come under FSA (Seychelles) regulation. All other users come under their respective countries’ regulatory bodies. So, this information is important before opening an account, as the regulation does matter.

Tickmill regulation

Tickmill provides plenty of tradable assets across six categories. The good thing is all the broker’s entities provide similar assets. For instance, the UK entity has similar tradable assets to the international one.

If I switch to the international page, assets remain the same.

Let’s talk about all the assets available.

Forex

• EUR/USD
• GBP/USD
• AUD/USD
• USD/JPY
• USD/CAD and more

Stock indices and oil

• Africa40
• Aus200
• Swiss20
• US500
• USTEC and more

Metals 

• Gold
• Silver
• NATGAS
• SMALL_SPRE
• Copper

Cryptos

• ADA/USD
• BTC/USD
• ETH/USD
• LTC/USD
• XRP/USD and more

Bonds

• US 30Y
• US 10Y
• US 2Y
• EURO BOBL
• SMALL 10Y
• EURO BUXL
• EURSCHA

As I said earlier, Tickmill has some of the lowest spreads. Spreads forex pairs begin at 0 pips on the Pro and VIP accounts.

Tickmill offers five trading platforms. They are

• MT4
• MT5
• MT4 Web Trader
• CQG
• Agena Trader Mercury

Let’s find out what these platforms have to offer.

MT4

The MT4 platform, developed in 2005, is still the world’s most extensively used trading platform. The platform’s outstanding selection of apps enables traders to conduct advanced analysis. Tickmill MT4 has extensive features like

• Advanced charting,
• Algorithmic trading,
• One-click trading,
• Multi-account management,
• Low resource requirements.

One of the things I like is there are 30 built-in indicators and 24 graphical tools. You can also add your custom indicators and charting tools. The MT4 platform is available in desktop, web, and mobile versions.

MT4 platform

MT5

The MetaTrader 5 is the successor of MT4. The MT5 platform builds on the success of its predecessor by providing

• An optimized interface,
• Enhanced analytical tools,
• A wider range of technical indicators and graphical tools, and
• Support for the MQL5 language.

MT5 is available in desktop and mobile versions.

MT5 platform

WEB TRADER

Tickmill provides the MT4 Web Trader which functions similarly to the desktop version. It includes features like

• Real-time quotes in the Market Watch
• Customizable price charts
• 9 different time frames
• Direct access through all modern browsers
• 30+ Indicators
• Complete trading history
• Securely encrypted data transmission

One of the features of the Web Trader is two-way synchronization. It allows any trades opened within the MT4 or MT5 to be seamlessly reflected across all MetaTrader platforms.

Web Trader platform

CQG

CQG is an advanced trading platform for futures trading. It includes

• Strong cloud infrastructure compatible with every browser and mobile device
• Multiple page configuration and window linkage
• Depth of market (DOM) and a one-of-a-kind Hybrid Order Ticket (HOT) with automated order management
• Trade routing with third-party programs, Quote Boards, Heat maps, and a live RSS News feed
• Option chain dashboards
• Over 90 technical indicators and tools

To access the platform, you need to make a special account and deposit funds. The platform is only available for UK clients.

CQG platform

AGENA TRADER MERCURY

Agena Trader Mercury is another advanced platform. It is an options trading platform that comes with plenty of pro features. For technical analysis, you can use OrderStream charts as a multi-dimensional form of a candlestick chart.

You can select QuickTrader to quickly put orders into charts, where you can instantly adjust the DOM performance. In addition, you can access the Traders Room where you can socialize with other traders and share strategies. The platform is only available for UK clients.

Agena Trader Mercury

Tickmill VPS

As mentioned already, Tickmill partnered with BeeksFX to provide a VPS (Virtual Private Server). VPS is available on all platforms. A VPS is your own private server hosted on the cloud or the internet. It runs its copy of an operating system (OS) but is not hosted on your computer. With Tickmill VPS, you can have

• Quick setup and 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

I haven’t tested VPS, but I’ll try it, considering how the broker boosts it.

WHAT TRADING INDICATORS ARE AVAILABLE?

As an active trader, technical analysis is super important. So, for technical trading, we need technical indicators. Tickmill offers plenty of trading indicators across all platforms. Some of the available indicators are

• RSI
• MACD
• Stochastics
• Bollinger Bands
• Average True Range, and many more

The account types depend on your trading entity. For instance, in the UK, the account types are

• Pro
• Classic
• VIP
• Futures

For international clients, there are four account types

• Classic
• VIP
• Pro
• Islamic/Swap-Free

Let’s compare every account type.

1. CLASSIC ACCOUNT

The Classic Account is the basic account you can get at Tickmill. There is a $100 minimum deposit, and users can access the account wherever they live. You can get maximum leverage of 1:500, and spreads start from 1.6 pips. It is a zero-commission account, so you won’t be charged trading commissions. If you are a beginner, then this account is perfect for you.

2. PRO ACCOUNT

The Pro Account is similar to the Classic Account. The only differences are the spreads and commissions. Here you have spreads from zero pips and a per-trade commission. Because of the lower spreads, the Pro Account is a better option for most traders than the Classic Account.

3. VIP

The VIP Account has a minimum deposit of $50,000, and there are zero spreads. It allows you to take advantage of low commissions of $1 per lot or $2 for each round-turn standard lot.

4. ISLAMIC/SWAP-FREE

The Islamic or swap-free account offers zero swap rates. It follows the no-interest principles. To open the account, you need to contact the support team first.

5. FUTURES ACCOUNT

The futures account has a minimum deposit of $1,000, and commissions start from $0.85. To trade the account, you need to follow exchange trading hours. For instance, NYMEX (New York Mercantile Exchange) is open from Sunday 5 p.m. – Friday 4 p.m. CT.

DOES TICKMILL OFFER A DEMO ACCOUNT?

If you aren’t ready for live accounts, you need to open a paper trading/demo account. Yes, Tickmill does provide a demo account.

With the UK entity, you can have

• £1 Million Insurance on top of FSCS £85,000 protection

You can have

• Segregated funds and Investor Compensation Fund (ICF) protection with the European entity

With the International entity, you can have

• Fund protection
• Top-tier insurance and banking partners

So, the broker is super safe.

Tickmill’s headquarters are in London. The registered address is 3rd Floor, 27-32 Old Jewry, London, England, EC2R 8DQ. It has sub-offices in Seychelles and Malaysia.

Tickmill location

Tickmill.com is owned and operated by the Tickmill Group of companies.

The payment methods depend on your trading entity. Global entity clients can have

• Bank wire
• Debit/credit card
• Skrill
• Neteller
• Cryptocurrencies
• STICPAY
• Fastpay
• FasaPay
• Unionmoney
• WebMoney

UK entity clients can have

• Bank wire
• Debit/credit card
• Skrill
• Neteller
• Dotpay
• Paysafe
• SOFORT
• PayPal
• Rapid by Skrill

European entity offers

• Bank wire
• Debit/credit card
• Skrill
• Trustly
• Dotpay

Depositing through your card is instant. Bank wires can take three business days, while third-party apps’ payment methods can take 24 hours.

Withdrawals on Tickmill are made using the same methods as those used for deposits, according to the trading entities. Also, it takes the same amount of time. There are no additional fees for withdrawals or deposits.

There are several ways to contact the broker. You can

• Call
• Chat
• Email

Also, they have an FAQ page where you can find all answers to your questions. You can also contact them through social media.

Currently, Tickmill provides four types of promos

• Trader of the month
• Tickmill’s NFP machine
• $30 welcome amount
• IB (introducing broker) contest

There are also three types of partnerships the broker offers

• Introducing broker
• Multi-account manager,
• Tickmill prime.

Tickmill provides a $30 welcome bonus. When you sign up with the broker, it provides you with a $30 welcome bonus.

Tickmill doesn’t provide much info on taxes.

This firm provides some of the lowest spreads for forex pairs. As a forex trader, I need to have low spreads. The minimum deposit is $100, which is at the higher end, but considering the overall conditions, it’s fine.

I like the overall trading conditions. The customer support is active, and deposits and withdrawals are swift too. Also, there are plenty of trading account types and platforms. Let’s see what others have to say:

Does Tickmill offer Cash or Future CFDs?

Yes, they do provide Cash CFDs, which allow you to trade with a constant price that does not have an expiration date. The broker uses the underlying futures contracts to calculate the Cash CFD price.

Is it possible to archive an account that is not in use?

If the account balance is equal to or less than 50 GBP/EUR/USD or 250 PLN, and there has been no trading activity for 60 days, the broker will automatically close the account.

In which cryptos can I deposit or withdraw funds?

You can deposit and withdraw cryptocurrency in BTC, ETH, or USDT from and to your Tickmill wallet.

FINAL THOUGHTS

There you have it! Now you know everything about Tickmill. Tickmill shines in regulations, platforms, spreads, and account types. However, the broker needs to improve on assets and educational resources.

So, that’s why I’m going to give it 4/5. I hope this review was informative and time-saving for you. If you are looking for forex brokers other than Tickmill, you can check the complete list of brokers here.

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