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Tickmill Review
Updated September 23, 2021
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Good overall trading costs
- Fast execution speeds (ideal for EAs)
- Regulated in the EU, the UK and Seychelles
- High customer ratings
Regulations and Money Protection
5.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| Tickmill Ltd (SC) | Seychelles FSA Licence | ✔️ segregated client money |
❌ | ✔️ |
| Tickmill UK Ltd (UK) | UK FCA Licence | ✔️ up to £85,000 |
✔️ | |
| Tickmill Europe Ltd (EU) | Cyprus CySEC Licence | ✔️ up to €20,000 |
✔️ |
Entity/Regulation
Tickmill group is also trading as Tickmill Asia Ltd, authorised and regulated by the Labuan Financial Services Authority in Malaysia, with license number MB/18/0028. Also part of the group, Tickmill South Africa (Pty) Ltd, authorised and regulated by the South Africa's Financial Sector Conduct Authority (FSCA) with license number FSP 49464.
For the purpose of this review we will use only the entities with whom traders can open an account; the companies based in the Seychelles, the UK and the EU.
For the purpose of this review we will use only the entities with whom traders can open an account; the companies based in the Seychelles, the UK and the EU.
- International customers: Tickmill Ltd will be the counterparty for International customers. This entity, regulated by the Financial Services Authority of Seychelles is an 100% owned subsidiary of Procard Global Ltd, UK registration number 09369927, with registered office at: 3rd Floor, 27 - 32 Old Jewry, London EC2R 8DQ, England.
- UK customers: Tickmill UK Ltd is a company registered in England and Wales under number 09592225. Principal and registered office at: 3rd Floor, 27 - 32 Old Jewry, London, EC2R 8DQ, England. Tickmill UK Ltd is authorised and regulated by the FCA.
- European customers: Tickmill Europe Ltd, with address at Kedron 9, Mesa Geitonia, 4004 Limassol is a Cypriot Investment Firm (CIF) under number 340249 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 278/15.
Client Money Protection
- Tickmill complies with the highest safety standards for client's funds. For this reason, Tickmill client's funds are kept in top-tier international banks, such as Barclays Bank, UBS, HSBC, MCB Bank, PPF Banka AS, AS Expobank, fully segregated from the company’s funds.
- Tickmill also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Tickmill holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.
Deposit Compensation Scheme
- Tickmill UK Ltd is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If Tickmill UK Ltd is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation (up to the value of £85,000) per claim.
- Tickmill Europe Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for CIF clients and its functions are regulated by the directive DI87-07 of the CySEC. If Tickmill Europe Ltd is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).
Negative Balance Protection
For accounts opened via any entity of the Tickmill Group, there is a default Negative Balance Protection mechanism in place, for the sake of no negative balance. With NBP, Tickmill customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Classic ✔️Pro ✔️VIP ❌PAMM ✔️Islamic Accounts |
✔️Forex ✔️Indices ❌Stocks ❌Futures ❌ETFs ✔️Bonds ✔️Commodities ❌Cryptos |
✔️MT 4 ✔️MT 5 ❌cTrader |
✔️Myfxbook ✔️Pelican Trading ❌ZuluTrade |
30:1 Europe 500:1 Rest of World |
Account Types and Currencies
- Tickmill offers three types of trading accounts; Classic, Pro and VIP. Tickmill also offers swap-free accounts for traders of Islamic belief.
- Tickmill allows for social trading, including copy trading, through Pelican Trading and Myfxbook.
- Tickmill does not have any PAMM accounts alternatives for money managers.
- Tickmill maximum leverage is 30:1 for accounts opened within Europe and up to 500:1 for accounts opened in other countries around the world.
- Currently, Tickmill trading accounts are only available in EUR, GBP, PLN and USD.
Financial instruments
Trading with Tickmill can be done only via the MetaTrader 4, available on web, desktop terminal and mobile versions. Tickmill offers a limited selection of more about 85 assets to trade, including Forex, indices, bonds and commodities.
- FX market - 62 currency pairs (including Minor and Exotic crosses).
- Indices - 14 world indices including UK 100, US 30 and NIKKEI 225.
- Bonds - 4 bonds CFDs based off highly rated government issued debt securities including the Eurobund.
- Commodities - 5 commodities CFDs available for trading; 2 metals (Gold and Silver) and 3 energies including UK Oil, and US Oil.
Pricing
5.0
| Pricing/ Account |
Classic | Pro | VIP |
|---|---|---|---|
| Spread EUR/USD | from 1.6 pip | from 0.0 pip | from 0.0 pip |
| Commissions (1 lot) | ❌ | from 4 USD | from 2 USD |
| Minimum Deposit | from 100 USD | from 100 USD | from 50,000 USD |
Spreads
Tickmill has recently reviewed their trading costs and created exceptional liquidity with the help of their tier-1 level providers, allowing Tickmill to give customers the lowest spreads possible on all Majors currency pairs and Gold. As an example, for some of the most traded currency pairs, like the EUR/USD, the previous typical spread was 0.2 pip. Now the typical spread is 0.0 pip, a reduction of 100%. For the GBP/USD pair, the previous typical spread was 0.7 pip. Currently the typical spread is 0.2 pip, representing a reduction of 71%.
To benefit from the ultra-low spreads there’s a cost, of course, meaning that the Pro and VIP accounts have commissions. For example, for the EUR/USD, the standard lot commission for 1 lot (100,000 units) with the Pro account is 4 USD (2 USD per side). The standard lot commission for 1 lot (100,000 units) with the VIP account is 2 USD (1 USD per side). The only downside with the VIP account (and its very competitive rates) is that to qualify, the account needs a minimum balance of 50,000 USD, which could be a problem for a lot of traders.
To benefit from the ultra-low spreads there’s a cost, of course, meaning that the Pro and VIP accounts have commissions. For example, for the EUR/USD, the standard lot commission for 1 lot (100,000 units) with the Pro account is 4 USD (2 USD per side). The standard lot commission for 1 lot (100,000 units) with the VIP account is 2 USD (1 USD per side). The only downside with the VIP account (and its very competitive rates) is that to qualify, the account needs a minimum balance of 50,000 USD, which could be a problem for a lot of traders.
Rollover Rates
Tickmill swap rates, as of 07-09-2020, for 1 lot EUR/USD (100,000 units) stands at an average rate of -4.96 for holding overnight a long 1 lot contract and at -0.10 for holding overnight a short 1 lot contract. We consider these swap rates to be average compared with the rollover rates offered by other top Forex brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 4 different currencies and maintained via 9 different funding methods, including cards, bank wires and e-payments such as Neteller or Skrill. Deposited funds are available almost instantly. Tickmill does not charge any fees for deposits.
- Withdrawals fees - Same policy applies for withdrawals (processing times vary from instant to 1 working day). Tickmill does not charge any additional fees for withdrawals. However, deposits/withdrawals may incur fees on payments to and from some international banking institutions or/and eWallets. For more information, please visit the Tickmill deposit and withdrawals dedicated page.
- Inactivity fee - Tickmill reserves the right to charge a maintenance fee where there is a lack of trading activity on the account.
Popularity
5.0
| Forex Education | Deposit Options | Deposit/Withdrawals Fees | Non expiring demo account | Customer Support |
|---|---|---|---|---|
| Webinars Seminars Ebooks Video Tutorials Fundamental & Technical Analysis Market Insights |
Cards Bank Wire E-payments |
❌ | ✔️ | Multi language 24/5 Support Live Chat |
The popularity of this excellent UK-based broker is remarkable. With over 263,000 registered accounts, the Tickmill Group has managed to catch the attention of quite a few traders. To note that the range of available markets is not the best, with only 80 instruments to trade.
Tickmill is not so popular regarding available trading platforms, only MT4 and MT5, which could be less appealing to a lot of traders. Perhaps it’s something that Tickmill could review in the future, and if so, we will post it here. But Tickmill scores higher with traders looking for ultra-fast execution speed. The broker provides one of the industry’s fastest execution times – 0.20s on average and with no requotes.
- Trading accounts - The Tickmill Pro account is a popular choice with traders looking to save on trading costs, with a lower spread and a very competitive commission of $4.00 per lot traded. Extra points for Tickmill's policy of no fees on deposits or withdrawals.
- Forex education - Tickmill also gets extra popularity points for their extensive range of Forex education materials, available through the Education tab. Tickmill clients can enroll on webinars, seminars, download Forex ebooks, watch and learn with video tutorials, read and make informed decisions with Tickmill fundamental & technical analysis reports and follow the market insights by the Tickmill experts.
| Funding Methods | Bank Wire, China Union Pay, Credit Card, FasaPay, Neteller, QIWI Wallet, Skrill (Moneybookers), Webmoney, SticPay, Sofort, Dotpay, Paysafecard, Rapid Transfer |
|---|---|
| Support Languages | Arabic, Chinese, English, German, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese |
- Minimum deposit - Opening a trading account with Tickmill is fast and can be done online, taking around 10 minutes to complete the required forms. The minimum deposit requirement (for the Classic and ECN Pro accounts) is 100 units of your account currency. If you hold a VIP account (with extremely competitive trading conditions), the minimum deposit is 50,000 units of your account currency.
- Customer support - Tickmill multi language customer support service is available 24 hours, 5 days a week, in 14 languages. Tickmill support is available via phone call, contact form, email and live chat directly from the broker's website.
Broker Profile
Founded in 2014, Tickmill aims at offering a great trading experience with extremely low market spreads and no-requotes using STP and DMA models, with absolute transparency and with the latest in trading technology. The team behind this broker have a trading experience that goes back to the ’90s, when they successfully traded on all major financial markets.
Tickmill has been built by traders for traders, offering direct ECN trading environment and good exchange liquidity, among others. This broker has become highly rated with fast trigger traders (scalpers) and those who use Expert Advisors (EAs) and algorithmic trading systems, thanks to Tickmill's fast execution speeds (on average 0.20 seconds) and extremely low latency.
As an highly regulated company with several authorities around the globe, Tickmill provides premium trading products and services with transparency and innovative technology. With a proven track record of strong financial results and stable growth, Tickmill has put itself in an enviable position as a trusted market leader and innovator.
Overall, on our Tickmill review, the broker scores an excellent 4.9 out of 5 as it is a reputable choice for traders looking for fund's safety, with strong regulations in place. This broker is also a lot of traders choice for automated trading with EAs thanks to great trading conditions and the fast execution speeds offered by Tickmill.
Data supplied in partnership with CashBackForex - Forex Rebates places Tickmill on the top 5 brokers for popularity with traders opening an account in 2020.
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Tickmill has been built by traders for traders, offering direct ECN trading environment and good exchange liquidity, among others. This broker has become highly rated with fast trigger traders (scalpers) and those who use Expert Advisors (EAs) and algorithmic trading systems, thanks to Tickmill's fast execution speeds (on average 0.20 seconds) and extremely low latency.
As an highly regulated company with several authorities around the globe, Tickmill provides premium trading products and services with transparency and innovative technology. With a proven track record of strong financial results and stable growth, Tickmill has put itself in an enviable position as a trusted market leader and innovator.
Overall, on our Tickmill review, the broker scores an excellent 4.9 out of 5 as it is a reputable choice for traders looking for fund's safety, with strong regulations in place. This broker is also a lot of traders choice for automated trading with EAs thanks to great trading conditions and the fast execution speeds offered by Tickmill.
Data supplied in partnership with CashBackForex - Forex Rebates places Tickmill on the top 5 brokers for popularity with traders opening an account in 2020.
Was this review helpful? Share it with a friend!
Tickmill User reviews
Tickmill Account types user rating
(95)Classic
(150)Pro
(82)VIP