Tickmill review 2024
Tickmill review Summary
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Founded in 2014 and headquartered in London, England, Tickmill’s CFD broker services have captured attention in the investment community. With a slick interface and plenty of features, find out if Tickmill is the CFD broker for you in this detailed review.
What can I do with Tickmill?
Tickmill was founded in 2014 and is headquartered in London, England. It is a licensed and regulated broker by multiple regulatory authorities and offers its services across the world.
Tickmill offers only CFDs (Contracts For Difference) on various asset classes via several powerful trading platforms across all device types. It offers low commissions and spreads along with decent leverage, besides a rich amount of educational material for investors of all experience levels.
Pros & Cons
Pros:
Cons:
Can I open an account with Tickmill?
Tickmill markets, assets, and options
What assets and products can you trade on Tickmill.com?
Tickmill allows trading of more than 80 CFDs across various asset classes, including CFDs for forex (major and minor), stock indices, precious metals, and bonds.
| Product (CFDs) | Offering |
|---|---|
| Forex | 60 |
| Stock Indices | 14 |
| Metals | 2 |
| Bonds | 4 |
What leverage trading options are there?
Tickmill leverage ranges from zero to a maximum leverage of 1:500, which is fairly standard across forex and CFD brokers.
Please note that leveraged trading is highly risky and is not recommended for beginners. Readers are recommended to use leverage with caution.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:500 | 0.2% |
| Stock Indices | 1:100 | 1% |
| Metals | 1:500 | 0.2% |
| Bonds | 1:100 | 1% |
What are the spreads?
Tickmill offers floating spreads which are variable depending on the account type. A Classic account for example will have no commissions and wider spreads of 1.6 pips on average.
Professional and VIP accounts have near zero spreads but will charge a commission.
| Product | Average spread range | Fixed or variable? |
|---|---|---|
| Forex | 1.3 pips | Variable |
| Stock Indices | 5 pips | Variable |
| Metals | 0.04 pips | Variable |
| Bonds | 0.018 pips | Variable |
Fees, limits, and payment options on Tickmill
What are the deposit and withdrawal fees, limits, and speeds?
Tickmill does not charge any fees for deposits and withdrawals. However, any third-party payment provider may charge for its services which the trader has to bear.
Minimum limits are imposed on deposits, but no maximum limits on withdrawals or deposits are mentioned.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Debit/Credit Cards – min/max – fees – speed | Yes 100 USD Free Instant | Yes 25 USD Free 1 business day |
| Skrill – min/max – fees – speed | Yes $100 Free Instant | Yes $25 Up to 4.99% per transaction Instant |
| Bank Transfer – min/max – fees – speed | Yes $100 Free 2-3 business days | Yes $25 Free 4-5 business days |
| Neteller – min/max – fees – speed | Yes $100 Free Instant | Yes $25 1.45% or min. $0.50 Instant |
| SticPay – min/max – fees – speed | Yes 100 USD/EUR/GBP Free Instant | Yes 25 USD Variable Instant |
| FasaPay – min/max – fees – speed | Yes 100 USD or 1,500,000 Rp Free Instant | Yes 25 USD Variable Instant |
| UnionPay – min/max – fees – speed | Yes 700 CNY or 100 USD Free Instant | Yes 25 USD Variable Instant |
| NganLuong – min/max – fees – speed | Yes 2,000,000 VND Free Instant | Yes 25 USD Variable Instant |
| Qiwi – min/max – fees – speed | Yes 100 USD/EUR/RUB Free Instant | Yes 25 USD Variable Within 1 working day |
| WebMoney – min/max – fees – speed | Yes 100 USD/EUR Free Instant | Yes 25 USD Variable Within 1 working day |
How much are Tickmill fees and commissions?
Tickmill makes money through spreads and charges commissions based on account type. For example, a Classic account is charged no commission and all money is made through spreads.
There is no inactivity fee for inactive accounts.
| Fee type | Fee amount | Commission |
|---|---|---|
| Forex | Variable | 1.3 pips |
| Stock Indices | Variable | 5 pips |
| Metals | Variable | 0.04 pips |
| Bonds | Variable | 0.018 pips |
Tickmill trade sizes and limits
Tickmill offers a minimum trade size of 0.01 lot i.e. a micro lot and a maximum of 100 lots. There are no restrictions on the number of trades per day.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.01 lot | 100 lots |
| Stock Indices | 0.01 lot | 100 lots |
| Metals | 0.01 lot | 100 lots |
| Bonds | 0.01 lot | 100 lots |
Tickmill trading platform
What devices can I use Tickmill on?
Tickmill offers the MetaTrader 4, WebTrader, and CQG trading platforms, which make available both desktop as well as web versions along with a forex trading mobile app.
- Desktop (Windows/Mac)
- Web browser
- Tablet
- iOS Mobile Device
- Android Mobile Device
Can I use Tickmill in my country?
Tickmill is available in 192 countries and territories, including the United Kingdom, South Africa, Singapore, and India. Traders of the United States and Canada however cannot use Tickmill. Also, due to legal restrictions in one’s country, some or a lot of features & products of Tickmill might not be available in your country.
Select your country from the list below to see if it is available where you are.
Is Tickmill available in my language?
Tickmill is available in 14 languages, including English, Spanish, German, and Portuguese. Select your language from the list below.
How easy is it to use Tickmill?
Tickmill offers a user friendly service and provides answers to basic FAQs one might have. The onboarding process is simple and on par with other brokers with step by step guidance.
It is similarly easy to begin trading on the go with a mobile app or via the desktop or web browser via the well-known MetaTrader 4 trading platform. Tickmill also makes tutorials on the same easily available.
Key features
Tickmill provides innovative technology and trading services, here are some of the broker’s top features:
Autochartist and Copy Trading
Tickmill offers several powerful trading tools, including Autochartist, which is a chart engine that searches for patterns and key price levels. It also offers copy trading, which allows you to follow and copy trades directly from successful traders for a small fee.
$30 Welcome Bonus
Tickmill offers a $30 welcome bonus funded by them. One can begin trading with that account and any profits made can be withdrawn. This is available to all new standard trading accounts opened upon making an initial deposit.
Infographics
Use visual data, charts, and statistics to discover unique financial insights and trading tips. These can center around specific trading events, specific assets, and even markets.
Security and regulation
Is Tickmill safe?
Tickmill keeps client accounts segregated from its own company funds and protects consumer privacy under MiFID II, which is a framework of rules and regulations that apply to the security market in the European Union meant to enhance investor confidence.
Am I and my funds protected?
Yes, Tickmill is a member of Financial Services Compensation Scheme (FSCS) and Investor Compensation Fund (ICS) and hence traders in certain jurisdictions are protected for the maximum amount (up to £85,000) under this scheme. However, funds of non-European traders in other jurisdictions are not covered by FSCS and ICS and are not safeguarded in the same regard.
Is Tickmill regulated?
Yes, Tickmill is regulated by several financial authorities, including:
- Seychelles Financial Services Authority
- Financial Conduct Authority in the United Kingdom
- Cyprus Securities and Exchange Commission
- Labuan Financial Services Authority and Financial Sector Conduct Authority in Asia
Do I have to verify my account with Tickmill?
Yes, traders are required to verify their account information as Tickmill is a licensed and regulated broker and verification is necessary for KYC purposes. The following documents are required: Identity Proof: International Passport or National ID card and Proof of Residence: Any residential address proof like utility bills containing name and address issued within the last six months
Extra information
Educational resources
Tickmill has a wealth of educational material available on their website in the form of eBooks, video tutorials, infographics, articles, market insights, and even a trading glossary catering to beginners and advanced traders alike. It also conducts live trading seminars on occasion, which is going the extra mile among forex brokers.
Tools and charting
Tickmill offers three different trading platforms which provide access to detailed financial analysis and charting tools, in depth analytics and customizable options allowing for traders across the skill spectrum to manage and execute knowledgeable trades. It also gives you access to expert advisors (EA’s) for mirroring successful trades.
Customer support
Tickmill offers customer support via a live chat and contact form on their website as well as direct telephone numbers for their offices in Seychelles and Malaysia. The broker also offers support through an official email address and they have a FAQ section addressing most common queries.
Our verdict
Tickmill is a broker that is built for traders by traders, offering CFDs across four major asset classes. It is one of the few brokers offering CFDs on bonds allowing one to bet on interest rate movement without dabbling in forex. It offers three robust trading platforms – MetaTrader 4, WebTrader and the lesser known CQG platform, which offer easy to use features that suit almost any trading style.
Tickmill is a well regulated broker in multiple jurisdictions and offers various account types and even an Islamic account variation for each of its account types. It’s trading spreads and commission structure are pretty low as compared with the industry overall.
A downside is that the number of CFDs are restricted to only 80 odd CFDs available as compared to several 100’s or more available at other similar brokers. It doesn’t make available CFDs on stocks or cryptocurrencies which some traders will find limiting. In summary, Tickmill is an average broker offering above-average resources in some areas and below-average options in other areas, depending on your needs this may or may not be ideal for you.
How to open an account with Tickmill
- Click on “Create Account” on the homepage and fill out the requested fields
- Provide personal information as well as trading expertise questions and follow the steps required to complete the signup process
- Verify your account (KYC) by login into the client area
- Make a deposit via the various available deposit methods
- Download your trading platform or use the WebTrader platform and begin trading!
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