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Tickmill Review

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Editor's Review

Tickmill Rating
8.67
9 Security
8 Spreads
9 Customer Service

Established in 2015, Tickmill has emerged as an up-and-coming MetaTrader broker. In addition to Forex, Tickmill offers traders CFDs on Bonds, Energy, Indexes, Metals, and Cryptocurrencies

Tickmill was founded after Armada Markets moved its retail clients to Tickmill’s entity in Seychelles, which is regulated by the Financial Services Authority. Tickmill then acquired an additional regulatory license in the UK under a new entity to expand its reach.

 

Trading Accounts

Tickmill offers 2 basic account types, all of which are accessible through the popular MetaTrader 4 platform and offer market execution with an average speed of 0.3 seconds, variable spreads, leverage up to 1:500 and micro tradable lots. The Classic account is commission-free, while Pro ECN account holders are charged with a small commission fee and get tighter spreads.

For big players with a minimum account balance of $50 000 who want a more personalized approach and lower commission fees, the broker offers VIP accounts.

 

The Company & Safety of Funds

Set up in 2015, Tickmill is an electronic communication network (ECN) and no-dealing desk (NDD) broker, which offers to trade in diverse financial instruments, including  62 currency pairs, 16 CFDs as well as Gold and Silver. The broker is actively present in Asia, the Middle East, and Africa.

Tickmill is a registered business name of Tmill UK Limited, a company authorized and regulated by the Financial Conduct Authority (FCA). It also has a sister company offshore, registered with Seychelles’ FSA.

 

Commissions & Spreads

Tickmill offers floating spreads, which vary by account category. The ones on the commission-free Classic account are above 1.6 pips on EUR/USD, which is not competitive pricing.

As regards ECN accounts, the broker cites as typical a spread of 0.2 pips on EUR/USD, and a commission of $4 per lot (round trip) applies. So, the average cost of trading per lot for the EUR/USD pair on these accounts is below 1.0 pips, which is an excellent offer.

 

Leverage

The maximum leverage rates at TickMill are up to 1:500. Such leverage is considered comparatively high.

 

Platform

Like most forex brokers, TickMill supports the MetaTrader4, available for Mac/Windows PC, Android & iOS devices and as a web-based version.

Tickmill also has partnered with MyFXBook to offer its clients advanced automatic trading options via the Autotrade platform.

 

Deposit & Withdrawal

Clients of TickMill are able to choose from a wide range of payment methods: via credit/debit cards, (Visa, MasterCard, Maestro), bank wire, Qiwi wallet, Skrill, Neteller, FasaPay, Globepay, and UnionPay.

 

Conclusion

Tickmill is a reputable forex and CFD broker with strong regulation, diversified product portfolio, and attractive trading conditions. We especially like its ECN offerings.


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