Tickmill Review 2020

Introduction about Tickmill:

Tickmill is one of the best trusted trading platforms and forex brokers that offers trading services such as Forex, Indices, Commodities, Bonds on the MetaTrader4 trading platform in more than 80 markets. Before you trade or invest money in any platform, trust is a key factor. That is why we thought you should have a look at this screenshot before we go into any detail in this review:

Tickmill Review – Leading Forex BrokersTickmill Review – Leading Forex Brokers

The brokers trading platform suits both the computer as well as mobile platforms that cover major platforms such as Windows, Mac, Web, Android, and iOS System. The trading platform was established in 2015, as a result of the movement of the retail clients of Armada Markets (an FSA regulated body) to Tickmill in Seychelles. As Broker expanded, it reached the United Kingdom and acquired more regulatory licenses. It is a regulated broker that offers more than 80 CFD instruments for exchanging which covers:

  • Forex
  • Indices
  • Commodities
  • Bonds

Features

Some of the features of Tickmill are described below –

  • Tickmill offers tighter spreads which start from 0.0 pips; these affordable and competitive trading conditions that are offered by this broker imply that variable spreads in VIP and Pro accounts start as low as 0.0 pips for some of the major Forex pairs.
  • This broker offers commission-free stock, indices, and bonds for all types and there are no commissions for CFDs trading for major stock indices, futures, and bonds. Further, commissions for VIP and Pro accounts are highly affordable assuming that spreads for these accounts can start with as minimum as 0.0 pips.
  • The trades placed through the Tickmill trading platform are very fast and the platforms NDD model (non-dealing desk model) are placed on an average in less than 0.15 seconds. Further, FIX API access implies speedy execution of orders for traders.
  • During periods of huge volatility and other market fluctuations, the clients of Tickmill can benefit from no re-quotes when they are placing orders over the platform’s asset offerings.
  • Tickmill allows the usage of several trading strategies which include scalping, hedging, arbitrage, and algorithmic strategies, and invites all traders who use all styles and tactics to trade on their platform.

Advantages and Disadvantages of Tickmill

Let us discuss few Advantages and disadvantages of this broker –

Advantages

  • This broker is regulated by UK regulation and offers high standards for customer safety
  • It is described as one of the cheapest Forex brokers around the world.
  • There are no re-quotes and offers high liquidity
  • Offers good customer service and support
  • This broker offers very low trading fees when compared to other brokers
  • This is one of the preferred trading platforms for Forex trading

Disadvantages

  • This broker does not offer stocks for trading on their platform

Who can trade with Tickmill?

  • Tickmill is considered one of the best and most popular online trading platforms that are founded by experienced professionals and it fulfills the demands of beginners and professional traders.
  • This platform offers a higher level of accessibility to beginners who do not have trading experience. They will find the trading conditions very conducive and it also offers intuitive trading platforms and educational materials for the new traders to learn the fundamentals of trading.
  • Additionally, this broker offers several tools like Autochartist, one-click trading fundamental technical analysis, which helps the new traders to increase their confidence and their trading abilities.
  • Experienced traders will find the platform very useful for trying several trading strategies which include hedging, arbitrage, algorithmic options, and scalping without any restrictions.
  • Even though several traders prefer advanced trading technology, will not appreciate MetaTrader 4 to suit their preferences and they might find this platform a bit restricting.

Is Tickmill regulated?

This question is an important one, as it sets one’s mind in clear ground of whether to trust a trading platform or not. That is why we decided to deal with this question right at the beginning of our review. Well, the brokers trading platform – It is authorized by the Financial Conduct Authority. Trading CFDs comes with a high risk of losing money, as these are complex instruments, before trading it’s better to understand them. By creating a link to a third party website, Tickmill does not endorse or recommend any products or services offered on that website.

Here is a screenshot from the official website of this broker to show the evidence of regulation:

Tickmill Reviews – Is it regulated?Tickmill Reviews – Is it regulated?

In the trust score department out of 99, Tickmill scores 81, which makes the brokers trading platform an ‘average-risk’ and not high risk broker. Different tier regulators authorize it. For instance, it is authorized by one tier-1 regulator (which reflects high trust), one tier-2 regulator, which is an indicator or average trust, and one tier-3 regulator, which shows low trust.

This Forex and CFD broker platform has also scored licenses from:

  • The UK Financial Conduct Authority (FCA)
  • The Cyprus Securities and Exchange Commission (CySEC)
  • The Seychelles Financial Services Authority (FSA)

Here is a screenshot from the official website of Tickmill to show the evidence of Licenses it has gained:

Tickmill Reviews – Licenses gainedTickmill Reviews – Licenses gained

Types of accounts offered by Tickmill

In this section of our review, we will look at the various kinds of trading account Tickmill offers. The variety of various types gives the users a chance to trade as per their risk capacity, budget, amount of time they can spend in trading, and exchanging goals. Tickmill offers three categories that a user can choose from at this website. They are as follows:

  • Pro Account
  • Classic Account
  • VIP Account

Here is a screenshot from the official website to show you why you should open an account at Tickmill in the first place:

Tickmill Review – AccountsTickmill Review – Accounts

In addition to the above categories, tickmill offers two more types-

  • Demo Trading Account
  • Islamic swap-free account

Faster order execution

  • Tickmill has several data centers and data across the world. By trading with MetaTrader 4, the user can choose the best server to trade. If the trader finds it very slow, traders can rent a VPS server.
  • If the trader would like to use large positions such as 30 lots and above, they can easily trade on this platform. The trader will be directed to immediate execution by offering the best prices.
  • This broker is an NDD (non-dealing desk broker) which is similar to an ECN broker. Some of the differences between ECN and NDD brokers is they act as an intermediary between the clients and the market. A responsibility to pay extra funds can be excluded.

Unlimited Demo Account

Tickmill offers a free demo mode, which is very useful for beginners and experienced traders. The demo mode is for an unlimited period and does not have an expiration date. The traders can execute the trades by using virtual assets and they can simulate real-time trades. Experienced users can test their new strategies or test new markets. For accessing the demo mode, the broker does not ask for any deposit or verification.

Does Tickmill offer negative balance protection?

The negative balance account is feared by several traders. For a few brokers, traders who have used a platform in the past had a negative balance or they might have built up debt because of the extreme market volatility conditions that need to be balanced. Tickmill platform does not ask for additional funding and the user is protected against a negative balance.

Variety of trading tools at Tickmill:

The users at this broker are also offered a good variety of trading, analysis, and research tools. These tools include- informative regular seminars, educational tutorials through various video platforms, webinars, in-depth articles about the various fundamental and technical tips, and insights. Tickmill does not endorse any third party products and services on the website. Along with the above facilities and trade support, the users are offered:

  • Autochartist
  • Forex Calculators
  • Tickmill’s VPS services

Here is a screenshot from the official website to show the details of Tickmill’s Autochartist:

Tickmill Reviews -Trading ToolsTickmill Reviews -Trading Tools

Investments at Tickmill:

This broker offers 84 different kinds of tradable symbols to its clients and traders. This variety includes CFDs on 16 indices, two metals, four bonds, and 62 forex pairs. Other investment products include:

  • Forex Spot Trading
  • 62 Currency pairs
  • 22 CFDs
  • Social or Copy trading

Please note that this broker does not offer cryptocurrency trading as actual or as CFDs. Further, trading with CFDs comes with high risk of losing money, as they are complex instruments, and extreme precaution should be undertaken, if not the traders will lose money.

Fees, commission, and the minimum deposit at Tickmill

These broker fees and commissions vary based on the type. Tickmill offers three types such as Classic, Pro, and VIP Accounts.

Here is a screenshot from the official website of this broker to show the details of the various types and their details at a glance:

Tickmill Review – TypesTickmill Review – Types

Here we will look at the fees and commission as per each type:

Tickmill Classic account:

  • The Classic account is commission-free.
  • The only thing the trader needs to pay for is the bid or the ask spread.
  • The spreads in the Classic account starts from 1.6 pips.
  • The minimum deposit for the Classic account is 100 U.S. Dollars.
  • The base currencies that are available for the clients to trade in are- USD, GBP, EUR, and PLN.
  • The min. Lots at Classic account is 0.01.
  • The maximum leverage for the retail clients for the Classic account is 1:30.
  • The maximum leverage for pro clients at Classic account is 1:500

Tickmill Pro account:

  • Tickmill Pro account charges commission. The commission is charged on the per-trade basis. This commission is charged on the lower spreads.
  • The minimum balance: It can be accessed by the users with just 100 U.S. Dollars deposit.
  • The minimum deposit for this type is 100 U.S. Dollars.
  • The Round Turn (RT) commission at the Tickmill Pro is 4 U.S. Dollars standard.
  • The spreads in this starts from 0.0 pips.
  • This type is suitable for many, given the spreads are less expensive.
  • The base currencies that are available for the clients to trade in are- USD, GBP, EUR, and PLN.
  • The maximum leverage for pro clients at Tickmill Pro account is 1:500
  • The min. Lots at Tickmill Pro is 0.01.
  • It offers 84 trading instruments, which include 62 currency pairs.
  • The maximum leverage for the retail clients for this type is 1:30.

Tickmill VIP Account:

  • VIP Accounts, like Tickmill Pro, is also a commission-based type. The commission is charged on the per-trade basis and applies to the lower spreads.
  • The minimum balance for VIP Accounts: The minimum balance required at the VIP Account is 50,000 U.S. Dollars to let the clients access the low commission of 1 U.S Dollars per 100 k units, or 2 U.S Dollars per round turn (RT).
  • The spreads in the VIP Accounts start from 0.0 pips.
  • The base currencies that are available for the clients to trade in are- USD, GBP, EUR, and PLN.
  • The min. Lots at VIP Account is 0.01.
  • The maximum leverage for pro clients at Tickmill VIP is 1:500
  • The active traders at VIP accounts are eligible for discounts. These discounts depend on trading volumes.
  • The maximum for the retail clients for Tickmill VIP is 1:30.

Here is a screenshot from the official website of Tickmill to show the types and their details in a glimpse:

Tickmill Reviews – VIP AccountsTickmill Reviews – VIP Accounts

Please note:

  • The minimum initial deposit at Tickmill is 25 U.S. Dollars.
  • Swap-free Islamic accounts are available for Classic, Tickmill Pro accounts, and VIP accounts.

How to open an account at Tickmill?

Opening an account with this broker is quite a straightforward method. In this section of our Tickmill review, we will show you the simple steps that you need to take to open an account at this website.

On the official website of it, click on the button that says- ‘Create Account.’ This will land you to a new page where Tickmill asks you about the basic personal information for setting up your account on the brokers trading platform. You need to fill in information such as:

  • Country of residence
  • Preferred communication language
  • Client type
  • Full legal name
  • Email address
  • Phone number

Once you fill out the registration form, you are then asked to share your:

  • Tax information
  • Financial background
  • Trading knowledge and expertise levels
  • Trading experience
  • CFD investment knowledge
Tickmill Review – Awards WonTickmill Review – Awards Won

The registration process usually gets completed in max. 3 minutes.

  • After the successful completion of the above information, then Tickmill requests the client to confirm the email address. At this stage, the user can easily access the accounts, deposits, withdrawals, etc.
  • In order to start trading right away, the user needs to upload the identification documents as well as the proof of address documents.
  • The documents can be submitted in .jpg, .pdf, .png, and .JPEG format.
  • The document/s need to show a high-resolution user image.
  • The full legal name should be clearly visible on the document.
  • If the user intends to upload the National Insurance Number. Then please ensure that both the sides are uploaded.
  • Another point to keep in mind is to ensure that any document submitted as identity proof must have 3 months of validity.
  • In case of proof of address:
  • The bills should not be more than 3 months old.
  • The documents can be submitted in .jpg, .pdf, .png, and .JPEG format.
  • Bills like utility bills and bank statements are accepted as proof of address. Please note mobile bills are not accepted under this category.
  • The bill must be in the applicant’s name.
  • The image should be of high resolution and unobstructed.

The account opening process at Tickmill only involves:

  • Registration
  • Creating an account
  • Making a deposit as per account type
  • Launching into trade

Mobile Trading at Tickmill:

Tickmill acts as only a Meta Trader broker. The brokers Forex platform offers mobile trading services for iOS, Android versions of the MetaTrader 4 app. This app can be easily downloaded from the Apple iTunes store, and for Android users, they can download it from the Play Store. On this mobile trading app, the users can:

  • Trade forex
  • Trade CFDs
  • The users get basic fields alerts and watch list
  • They get 30 charting/ indicators lists
  • The users also get access to charting draw trend lines
  • It also offers its users the charting multiple time frames
  • The users get real-time quotes
  • The clients of Tickmill mobile app can directly trade from the chart and also are allowed to access multiple asset classes while using many types of trading indicators.

What is the Customer service of Tickmill like?

  • In our research, we also investigated the customer service of this broker. In this section of our review, we will look at the quality of the customer satisfaction factor when one uses it.
  • Our research brought forward that the average connection time a phone takes to connect a user to Tickmill is less than 1 minute.
  • Market research tells that the average net promoter score of it is 6.1 out of 10. When it comes to professional levels of dealing with the customers, the brokers trading platform scores 7.4. Overall the brokers trading platform holds #16 spot out of 22 brokers in comparison.

How to withdraw a Tickmill bonus?

In this section of our Tickmill review, we will look at the variety of methods through which one can deposit and withdraw money from this broker. The trading platform offers many free of cost deposit and withdrawal methods. Here is a screenshot from the official website to show different types of withdrawal and deposit methods:

Tickmill Review – Deposit and Withdraw OptionsTickmill Review – Deposit and Withdraw Options

The users can use any of the following methods:

  • Debit Card
  • Credit card
  • Bank wire transfer
  • Neteller
  • Skrill
  • DotPay
  • PaySafeCard
  • Sofort
  • Rapid

Please Note: The deposit and withdrawal options vary from country to country. Another thing to keep in mind is that the currency of the base currency of your account plays a vital role in every withdrawal. For instance, when a user requests a withdrawal of money from the client area, the withdrawal will be processed in the base currency of your trading account. The deposit and withdrawal can be made directly from the client area. The process of deposit, as well as withdrawal, ranges from an instant to 24 hours depending on the method of deposit or withdrawal and the country of operation. Although the deposits can be made in many currencies, it is advised that the user should be well aware of Tickmill’s minimum deposit and withdrawal amounts.

Upsides and Downsides of using Tickmill Forex Broker

Undoubtedly It is a very useful trading platform. But like anything else, it too has its own downsides that you must be made aware of before you choose this platform. Following is the list of pros and cons of using it:

ProsCons
       Tickmill UK Ltd is a regulated trading platform and holds licenses from- CySEC, FCA, and FSA.       The downside is that it does not offer any stocks to its users.
       The user of this broker can enjoy commission-free trading account.   It does not offer Meta 5. As of now only Tickmill mt4 is available.

    The users get access to competitive spreads and over-night swap charges.

      It does not offer cryptocurrency exchange as actual.

       Along with other benefits the users also get a good variety of exchanging, analysis and research tools which can take their trading to the next level.      The broker does not offer cryptocurrency exchange as CFDs.

The Final Verdict

Tickmill is a licensed broker and is regulated by the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). This brokers platform offers its trading services in more than 80 CDFs that cover Indices, Forex, commodities, bonds on the MT4 platform through three main types- Pro, Classic, and VIP Account. It has not left the beginners left alone, and in order to support them, it offers- demo trading and Islamic swap-free accounts. Moreover, there are commission-free exchanging accounts made available by it. Along with this, for its users’ comfort and ease, it is available on Windows, Mac, Web, Android, and iOS platforms.
Through a thorough variety of research, analysis, and trading tools which includes- webinars, seminars, video tutorials and up to date fundamental and technical analysis articles, Tickmill VPS service, Autochartist and a range of Forex Calculators; the trading platform is always on a look out to support its clients with best of the services.
Therefore, we will give a green signal to this broker. It is a sensible and trustworthy platform where one can invest money and trade. Along with this, we would like to suggest one universal advice that goes for each and every trading platform and the aspiring trader. It is- please ensure that you do the background research of the credibility of any platform on your own before trusting any source. Also, always invest and trade based on your risk capacity to lose money, budget, and trading experience. Growing slow and steady is often the soundest advice you can adhere to while keeping the exchanging excitement under check.

FAQs

1. What about funds protection at Tickmill?

Securities Dealer by the Seychelles Financial Services Authority (FSA) regulates Tickmill UK Ltd, which means that the client’s funds are given utmost protection and are stored separately.

2. Tickmill offers cash or Future CFDs?

Yes, the broker offers Cash CFDs. The trader can use the money without any subject to expiration.

3. What are the benefits of choosing Tickmill?

There are many benefits to choosing it:

  • Low spreads starting from 0.0 pips
  • Ultra-fast execution speed of average 0.15 second
  • Instant processing of deposits through Skrill, Neteller, FasaPay, UnionPay and credit card
  • 24 hours of withdrawal processing
4. Is Tickmill regulated?

Well, the Tickmill UK Ltd trading platform is authorized by the Financial Conduct Authority (FCA).

Tickmill

9.3

REPUTATION

8.4/10

SECURITY

9.4/10

USER EXPERIENCE

9.0/10

SUPPORT

8.9/10

PAYMENT OPTIONS

9.5/10

Pros

  • - Tickmill is a regulated trading platform and holds licenses from- CySEC, FCA, ad FSA.
  • - The user of Tickmill can enjoy commission-free trading account.
  • - The users get access to competitive spreads and over-night swap charges.

Cons

  • - The downside is that Tickmill does not offer any stocks to its users.
  • - Tickmill does not offers Meta Trader5. As of now only Meta Trader 4 is available.
  • - Tickmill does not offers cryptocurrency trading as actual.