Tickmill Review

Wanna see if Tickmill is a legit broker? Is it safe to trade? Is its spread high or low? How long it take to deposit or withdrawal?

We provide answers to all the questions in this Tickmill review.

We checked all Tickmill licenses and regulation status to see if Tickmill is safe. We compared Tickmill’s fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings in this review.

What is Tickmill

Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA) in the United Kingdom.

Tickmill highlights

🗺️ Regulated in	UK, Cyprus, South Africa, Seychelles, Labuan
🛡️ Is Tickmill safe to trade	Yes
💵 EUR/USD spread	1.6 pips
🏦 Deposit	Neteller, Skrill, Credit/Debit Card, Bank Transfer
💰 Minimum deposit	US$100
🏦 Withdrawal	Neteller, Skrill, Credit/Debit Card, Bank Transfer
💻 Trading platform	MT4
💳 Trading markets	Forex, Commodity, Indices, Bonds
📈 Number of product	85
📉 Live chat response	Instant and relevant answers

Regulation

License and regulation are the keys to traders’ fund security. We check two facts. what licenses does a broker carry and how you are protected if something goes wrong. what the background of the broker is.

Is Tickmill legit

It is regulated by several financial authorities, including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority of Seychelles, the South African Financial Sector Conduct Authority (FSCA) and the Financial Services Authority of Labuan Malaysia (LFSA).

Tickmill licenses and status

Entity	Registered in	Regulator	License no.	Status
Tickmill UK Ltd	United Kingdom	Financial Conduct Authority (FCA)	717270	Currently Regulated
Tickmill Europe Ltd	Cyprus	Cyprus Securities and Exchange Commission (CySEC)	278/15	Currently Regulated
Tickmill South Africa (Pty) Ltd	South Africa	Financial Sector Conduct Authority (FSCA)	49464	Currently Regulated
Tickmill Ltd	Seychelles	Financial Services Authority of Seychelles	SD008	Currently Regulated
Tickmill Asia Ltd	Labuan, Malaysia	Labuan Financial Services Authority (Labuan FSA)	MB/18/002	Currently Regulated

Is Tickmill safe

Yes, Tickmill is considered safe because it is regulated by the top-tier FCA.

As of September 2020, Tickmill introduced two new entities under two new regulators: the South African Financial Sector Conduct Authority (FSCA), and the Financial Services Authority of Labuan Malaysia (LFSA).

We reached out to Tickmill, but at the time of our update, it is unknown which countries are under FSCA and LFSA authority. We will update the review when we find out.

Tickmill compensation scheme

Entity	Compensation Amount	Negative Balance Protection
Tickmill UK Ltd	£85,000	Yes
Tickmill Europe Ltd	€20,000	Yes
Tickmill South Africa (Pty) Ltd	No compensation	Yes
Tickmill Ltd	No compensation	Yes
Tickmill Asia Ltd	No compensation	Yes

We recommend you register your account with the UK entity, if it’s available for you, as we consider the FCA regulation the best one.

Tickmill provides negative balance protection for retail customers. If the balance on your account goes negative, you will be protected.

Markets and Products

At Tickmill, you can trade only CFDs on forex, stock indices, commodities, and German government bonds with 85 instruments in total. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and options are missing.

Markets	Instruments
Forex	62
Indices	13
Commodities	6
Bonds	4

Account types

Tickmill has several account types that differ in pricing, minimum deposit, and minimum account balance.

	Classic	Pro	VIP
Minimum Deposit	100 USD/EUR/GBP	100 USD/EUR/GBP	–
Minimum Balance	–	–	50,000 USD/EUR/GBP
Spreads From	1.6 pips	0.0 pips	0.0 pips
Commissions	Zero Commissions	2 per side per 100,000 traded	1 per side per 100,000 traded

Fees and commissions

We ranked Tickmill’s fee levels as low, average or high based on how they compare to 150 brokers that we recalled their live account spread in our database.

The spread we collected spread in popular instruments from 6 markets over 150 brokers

Markets	Instruments	Low	Average	High
Forex	EUR/USD	0.1-0.9	1-1.5	1.6 or higher
Indices	US 500	0.1-0.4	0.5-1.4	1.5 or higher
Commodities	Gold	0.1-0.4	0.5-2	2.1 or higher
Stocks	Tesla	0.1-0.5	0.6-1	1.1 or higher
ETFs	US Russell 2000	0.1-0.4	0.5-1.4	1.5 or higher
Cryptocurrencies	Bitcoin	0.1-0.5%	0.6-0.9%	1% or higher

Spreads

There are different cost structures for different account types.

Comparing the spreads charged in our trades to industry benchmarks, we found the spread on stock indices to be quite low, but the spreads on Forex and commodities were in-line with industry averages or higher.

Markets	Instruments	Standard account	PRO account	Other brokers’ avg spread
Forex	EUR/USD	1.6	0.2	1-1.5
Indices	US 500	1.39	0.39	0.5-1.4
Commodities	Gold	0.23	0.021	0.5-2
Stocks	Tesla	–		0.6-1
ETFs	US Russell 2000	–		0.5-1.4
Cryptocurrencies	Bitcoin	–	15.70	0.6-0.9%

Other Fees

Tickmill has low non-trading fees. There is no fee for deposit, withdrawal, or inactivity.

Trading Conditions

The trading conditions at Tickmill are good. You can run most all types of trading strategies such as hedging and scalping.

Trading Conditions	Yes/No
Hedging Allowed	Yes
Scalping Allowed	Yes
Change Leverage Allowed	Yes

For hedging, there are no time limitations for keeping your hedging positions open.

For scalping, Tickmill is working with BeeksFX to provide VPS for traders whose run Expert Advisors (EAs).

Tickmill also allows to traders change their account leverage to fit their needs.

Deposit

Tickmill charges no deposit fees. You can use bank transfer, credit/debit cards, and a lot of electronic wallets:

A bank transfer can take several business days, while payment with credit/debit cards is instant.

Deposit Method	Funding Time	Fee
Bank Wire Transfer	Within 1 Working Day	0$ above 5,000$
Credit / Debit Card	Instant	0$
Skrill, Neteller	Instant	0$

Minimum Deposit

The required minimum deposit at Tickmill is $100. For a VIP account, you need to maintain a minimum $50,000 balance.

Withdrawal

Similarly to deposit, Tickmill charges no fee for withdrawal. You can use the same options for withdrawal as for deposit.

Withdrawal Method	Withdrawal Time	Fee
Bank Wire Transfer	1-2 business days	Free
Credit / Debit Card	1-2 business days	Free
Skrill, Neteller	1-2 business days	Free

Bonus

Tickmill offers $30 Welcome Account bonus which is a no deposit bonus. It is available to new client with account under Tickmill Ltd.

However, it is not available to clients from the UK and EU.

Trading Platform

Tickmill doesn’t have its own self-developed trading platform, it uses MetaTrader 4, a third-party platform.

MetaTrader 4 is available in an exceptionally large number of languages and it is available on operating system such as Windows, Mac, Android and IOs across devices PCs, smartphones and tablets.

Research and Tools

Tickmill has a wide range of services that can provide trading ideas, such as Autochartist, a chart pattern recognition tool. The analysis available on its blog is great. On the flip side, the news feed is basic and the charting tools have outdated design.

Tickmill’s research tools are available in different places:

• MetaTrader trading platform
• Autochartist in the ‘Client Area’
• ‘Client Tools’ section on the website
• Tickmill’s blog

Education

Tickmill has great educational content. You can learn through videos, demo accounts, and webinars. On the negative side, platform tutorial videos are not categorized.

At Tickmill you can learn in the following ways:

• Demo account
• General educational videos
• Platform tutorial videos
• Webinars
• Quality educational articles

Customer Service

Tickmill provides good customer service. We got relevant and fast answers both on the telephone and by email. The live chat agents are also helpful and give relevant answers, however, response time was slower. On the downside, customer service is 24/5 only.

You can contact Tickmill via:

• live chat
• telephone
• email

Tickmill’s live chat is of average-speed but they are eager to help you and will make screenshots for you if it helps explain things.

Question Asked	We asked about deposit and withdrawal methods.
Time of Reply	It was about 2 mins waiting before we were connected to customer support representative and the replies were in seconds
Quality of Reply	The answer is accurate and relative.

Conclusion

Tickmill is a safe broker to trade. It allows traders to trade with almost any trading strategy including scalping, which is great for day trading and EA trading.

Furthermore, Tickmill also allows traders choose which entity to open account including its UK entity.

We recommend Tickmill for traders who run EAs, scalping and prefer the MT4 platform, as well as those interested in trading with an FCA-regulated broker.