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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 inUK, Cyprus, South Africa, Seychelles, Labuan
🛡️ Is Tickmill safe to tradeYes
💵 EUR/USD spread1.6 pips
🏦 DepositNeteller, Skrill, Credit/Debit Card, Bank Transfer
💰 Minimum depositUS$100
🏦 WithdrawalNeteller, Skrill, Credit/Debit Card, Bank Transfer
💻 Trading platformMT4
💳 Trading marketsForex, Commodity, Indices, Bonds
📈 Number of product85
📉 Live chat responseInstant 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

EntityRegistered inRegulatorLicense no.Status
Tickmill UK LtdUnited KingdomFinancial Conduct Authority (FCA)717270Currently Regulated
Tickmill Europe LtdCyprusCyprus Securities and Exchange Commission (CySEC)278/15Currently Regulated
Tickmill South Africa (Pty) LtdSouth AfricaFinancial Sector Conduct Authority (FSCA)49464Currently Regulated
Tickmill LtdSeychellesFinancial Services Authority of SeychellesSD008Currently Regulated
Tickmill Asia LtdLabuan, MalaysiaLabuan Financial Services Authority (Labuan FSA)MB/18/002Currently Regulated
Tickmill UK FCA
Tickmill registered in FCA website

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

EntityCompensation AmountNegative Balance Protection
Tickmill UK Ltd£85,000Yes
Tickmill Europe Ltd€20,000Yes
Tickmill South Africa (Pty) LtdNo compensationYes
Tickmill LtdNo compensationYes
Tickmill Asia LtdNo compensationYes

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.

MarketsInstruments
Forex62
Indices13
Commodities6
Bonds4

Account types

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

Classic Pro VIP
Minimum Deposit100 USD/EUR/GBP100 USD/EUR/GBP
Minimum Balance50,000 USD/EUR/GBP
Spreads From1.6 pips0.0 pips0.0 pips
CommissionsZero Commissions2 per side per 100,000 traded1 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

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%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.

MarketsInstrumentsStandard accountPRO accountOther brokers’ avg spread
ForexEUR/USD1.60.21-1.5
IndicesUS 5001.39 0.390.5-1.4
CommoditiesGold0.23 0.0210.5-2
StocksTesla 0.6-1
ETFsUS Russell 2000 0.5-1.4
CryptocurrenciesBitcoin 
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 ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

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 MethodFunding TimeFee
Bank Wire TransferWithin 1 Working Day 0$ above 5,000$
Credit / Debit CardInstant0$
Skrill, NetellerInstant0$
Tickmill deposit and withdrawal
Tickmill review – Deposit and withdrawal – Deposit

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 MethodWithdrawal TimeFee
Bank Wire Transfer1-2 business daysFree
Credit / Debit Card1-2 business daysFree
Skrill, Neteller1-2 business daysFree

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.

Tickmill No Deposit Bonus – $30 Welcome Account

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.

Tickmill trading platform
Tickmill review – Desktop trading platform

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
Tickmill Economic Calendar
Tickmill review – Research – Economic Calendar

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
Tickmill Forex Glossary
Tickmill review – Education

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 Customer Service
Tickmill review – Customer Service

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 AskedWe asked about deposit and withdrawal methods.
Time of ReplyIt was about 2 mins waiting before we were connected to customer support representative and the replies were in seconds
Quality of ReplyThe 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.

Author of this review

By Jimmy O'Brien

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.

I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.

I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

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