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Tickmill Forex Broker Review

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Overall Verdict

Tickmill is a global forex broker that has carved out a strong reputation in the trading community since its inception in 2014. Known for its low spreads, fast execution speeds, and a commitment to transparency, Tickmill caters to both retail and institutional traders. The broker offers a robust trading environment characterized by competitive pricing, a variety of account types, and a strong focus on education and support.

Tickmill’s regulatory framework and client fund security practices enhance its credibility, making it a trustworthy option for traders worldwide. Overall, Tickmill is an excellent choice for both novice and experienced traders looking for a reliable forex broker.

Rating: 8.5/10

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Pros and Cons

Pros

  • Low Spreads and Commissions: Tickmill offers some of the lowest spreads in the industry, especially on its Pro account.
  • Regulatory Oversight: The broker is regulated by reputable authorities, providing a level of safety for traders.
  • Multiple Account Types: Tickmill offers various account types tailored to different trading needs and strategies.
  • Fast Execution Speeds: Tickmill boasts quick order execution times, reducing slippage and enhancing trading efficiency.
  • Comprehensive Educational Resources: The broker provides a variety of educational materials to help traders improve their skills.

Cons

  • Limited Research Tools: While educational resources are abundant, research tools can be somewhat limited compared to other brokers.
  • Withdrawal Fees: Tickmill charges fees for withdrawals, which may deter some traders.
  • No US Clients: Tickmill does not accept clients from the United States, which limits its market reach.
  • Limited Cryptocurrency Offerings: Tickmill offers only a few cryptocurrency trading options, which may not meet the needs of crypto-focused traders.

Trust and Safety

Regulation

Tickmill is regulated by several authoritative bodies:

  • Financial Conduct Authority (FCA): Tickmill UK Ltd is regulated by the FCA, one of the most reputable financial regulators in the world.
  • Cyprus Securities and Exchange Commission (CySEC): Tickmill’s European operations are overseen by CySEC, providing additional regulatory compliance.
  • Seychelles Financial Services Authority (FSA): Tickmill’s Seychelles entity is regulated by the FSA, offering services to clients outside of the UK and EU.

Fraud Prevention Measures

Tickmill employs various fraud prevention measures, including:

  • Two-Factor Authentication (2FA): Clients can enable 2FA for an additional layer of security on their accounts.
  • Account Monitoring: The broker continuously monitors accounts for suspicious activity to prevent unauthorized access.

Client Fund Security

Tickmill prioritizes the security of client funds through:

  • Segregated Accounts: Client funds are held in segregated accounts with top-tier banks, ensuring that they remain separate from the broker’s operational funds.
  • Negative Balance Protection: Tickmill provides negative balance protection, which prevents clients from losing more than their account balance.

Risk Management

Tickmill offers several risk management tools, including:

  • Stop-Loss and Take-Profit Orders: These orders help traders manage their risks by automatically closing positions at predefined levels.
  • Risk Management Features: The broker provides various tools to analyze risk exposure and monitor trading performance.

Tradeable Instruments

Tickmill offers a wide range of tradeable instruments, including:

  • Forex Pairs: Over 60 currency pairs, including major, minor, and exotic options.
  • Commodities: Access to popular commodities such as gold, silver, and oil.
  • Indices: Trade major global indices, including the S&P 500, DAX, and FTSE.
  • Bonds: Options to trade government bonds from various countries.
  • Cryptocurrencies: Limited cryptocurrency offerings, including Bitcoin and Ethereum.

Account Types

Tickmill provides several account types designed to meet the diverse needs of traders:

  1. Classic Account: Designed for retail traders, this account type features fixed spreads and no commissions.
  2. Pro Account: Ideal for experienced traders, the Pro account offers tighter spreads and a commission-based structure.
  3. VIP Account: For high-volume traders, the VIP account provides even lower spreads and enhanced trading conditions.
  4. Demo Account: A demo account is available for traders to practice and familiarize themselves with the trading platform without risking real money.

Commissions and Fees

Account Minimum

  • Minimum Deposit: The minimum deposit to open an account with Tickmill is $100, making it accessible for most traders.

Trading Fees

  • Trading Fees: Tickmill offers competitive spreads, with typical spreads starting from 0.0 pips on the Pro account.

CFD Fees

  • CFD Fees: Trading CFDs may incur additional fees depending on the asset class and market conditions.

Forex Fees

  • Forex Fees: Tickmill’s spreads on forex pairs are some of the lowest in the industry, particularly on the Pro account.

Futures Fees

  • Futures Fees: Tickmill offers access to futures trading, with specific fees depending on the instrument traded.

Inactivity Fees

Tickmill charges an inactivity fee of $10 per month after 12 months of no trading activity, which may deter infrequent traders.

Deposit and Withdrawal Fees

  • Deposits: Tickmill does not charge fees for deposits made via bank transfer or credit/debit cards.
  • Withdrawals: A withdrawal fee may apply depending on the method used, which can range from $0 to $30.

Overnight Funding Fees

Overnight funding fees (swap rates) apply to positions held overnight, with rates varying based on the asset and market conditions.

Currency Conversion Fees

Tickmill may apply currency conversion fees for trades executed in currencies other than the account’s base currency.

Trading Platforms

Mobile Trading

Tickmill offers a mobile trading app compatible with both iOS and Android devices:

  • User-Friendly Interface: The app allows traders to access their accounts, execute trades, and manage their portfolios from anywhere.
  • Real-Time Alerts: Users can receive real-time notifications for price changes and trade executions.

Web Trading

Tickmill’s web trading platform is designed for convenience and accessibility:

  • Customizable Layouts: Traders can personalize their trading environment with customizable charts and layouts.
  • Advanced Charting Tools: Access to advanced charting tools and indicators enhances the trading experience.

Desktop Trading

Tickmill supports multiple desktop platforms:

  • MetaTrader 4 (MT4): A widely used trading platform known for its advanced features, including automated trading through Expert Advisors (EAs).
  • MetaTrader 5 (MT5): The successor to MT4, MT5 offers additional features such as more order types and improved analytics.

Unique Features

  • Trading Academy: Tickmill provides a comprehensive trading academy with webinars, eBooks, and tutorials to help traders improve their skills.
  • Market Insights: Regular market updates and analysis are provided to keep traders informed about current market trends.
  • Promotional Offers: Tickmill occasionally runs promotional campaigns, offering bonuses and rewards to clients.

Research and Education

Tickmill offers a variety of educational resources and research tools:

  • Webinars and Live Events: Regular webinars and live trading sessions cover various trading topics and strategies.
  • Trading Guides: Comprehensive guides on trading strategies, risk management, and technical analysis are available.
  • Market Analysis: Tickmill provides daily market analysis and insights to keep traders informed about market conditions.

Customer Support

Tickmill offers reliable customer support through various channels:

  • Help Center: A comprehensive online resource with FAQs, articles, and guides to assist users.
  • Email Support: Clients can submit inquiries via email for assistance with their accounts.
  • Live Chat: Available for immediate assistance during business hours, offering quick responses to inquiries.
  • Phone Support: Tickmill provides customer support via phone in multiple languages, ensuring clients can reach out for help when needed.

How to Open an Account

Opening an account with Tickmill is a simple process:

  1. Visit the Official Website: Go to the Tickmill homepage to begin the registration process.
  2. Click “Open an Account”: Fill out the online registration form with your personal information.
  3. Complete the Application Form: Provide details such as name, email, phone number, and address.
  4. Verify Your Identity: Upload identification documents, such as a government-issued ID and proof of address, to comply with regulatory requirements.
  5. Fund Your Account: Choose your preferred deposit method to fund your trading account.

Deposit and Withdrawal Methods

Tickmill supports a variety of deposit and withdrawal methods for user convenience:

  • Bank Transfers: Standard method for deposits, generally free of charge.
  • Credit/Debit Cards: Users can deposit funds using credit or debit cards, with quick processing times.
  • Electronic Wallets: Tickmill supports popular e-wallets for quick deposits and withdrawals, including Skrill and Neteller.

Final Thoughts

Tickmill is a reputable forex broker that provides a solid trading environment for both new and experienced traders. With its low spreads, diverse account types, and strong educational resources, Tickmill stands out as a viable option in the competitive forex brokerage market. Traders should consider their individual needs and preferences when choosing a broker, but overall, Tickmill is a commendable choice for those seeking a reliable and efficient trading experience.

Broker Contact Info

  • Website: Tickmill.com
  • Email: support@tickmill.com
  • Phone: +44 203 150 1080 (UK), +357 25 281 880 (Cyprus)
  • Address: Tickmill Ltd, 3rd Floor, 3-5 Rudd Street, London, EC3R 7EA, United Kingdom

Frequently Asked Questions

1. Is Tickmill regulated?

Yes, Tickmill

is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of regulatory oversight.

2. What is the minimum deposit to open an account?

The minimum deposit required to open a Tickmill account is $100.

3. Does Tickmill charge any inactivity fees?

Yes, Tickmill charges an inactivity fee of $10 per month after 12 months of no trading activity.

4. What trading platforms does Tickmill offer?

Tickmill offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop, web, and mobile trading.

5. Can I trade cryptocurrencies with Tickmill?

Tickmill offers limited cryptocurrency trading options, including Bitcoin and Ethereum.

6. How do I contact Tickmill customer support?

Tickmill provides customer support via email, live chat, and phone, along with a detailed help center on their website.

7. What are the spreads like at Tickmill?

Tickmill offers competitive spreads, starting from 0.0 pips on the Pro account, making it attractive for active traders.

8. How can I open an account with Tickmill?

To open an account, visit the Tickmill website, fill out the registration form, verify your identity, and fund your account using your preferred method.