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Tickmill Review

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

Tickmill is a professional brokerage company that started in 2014. The broker offers forex and CFD trading services. In this article, I highlighted the reasons Tickmill is a broker of choice, and I also highlighted some of its features that investors and traders should find interesting. 

Overview

Tickmill was founded in 2014 in Mahe, Seychelles. It started providing retail brokerage services and CFD operations in 2015. It began with providing UK, US, European, Japanese, and German stock indices and WTI crude oil; the company has since grown to having many other instruments like forex, indices, stocks, cryptocurrency, bonds, metal, and commodities for trading.[1]

It is regulated in the United Kingdom by the Financial Conduct Authority (FCA), in  Europe by Cyprus Securities Exchange Commission (CySEC), and in Seychelles by Financial Services Authority (FSA). These groups of companies serve retail, professional and institutional clients worldwide. 

ProsCons
Strong regulation
Useful educational and research 
Low forex fees
Free deposit and withdrawal 
Limited cryptocurrency assets 
Swap charges apply 
Only forex and CFDs

Who is Tickmill for? 

Beginners: With the sets of instruments that the broker provides, beginner traders will find it easy to choose assets to trade. The instruments are not as much as what some brokers have but beginners will concentrate on assets of choice, especially the forex pairs. 

Professionals: The broker provides some advanced trading tools that can help professionals make trading analyses and judgments that will give better trading results.

Expert advisors: Traders that have not mastered trading themselves or do not have the time to trade can find the expert advisors helpful. Many people prefer the expert advisor because it requires less time and psychological requirements in trading. The broker also provides VPS that aids the use of Expert Advisors.

Rating: 4/5

Sign up bonus: The broker provides a $30 signup bonus to its clients.

Does Tickmill have safe services? 

It is safe to trade your money with Tickmill as the broker prioritizes the security of clients’ funds.

The broker is regulated in different jurisdictions it is located. It is regulated in Seychelles by Financial Services Authority (FSA), in the U.K. by Financial Conduct Authority, in Europe by Cyprus Securities and Exchange  Commission (CySEC), in Asia by Labuan Financial Services Authority (Labuan FSA), Financial Sector Conduct Authority (FSCA).[2]

Asides from the regulation, the company is also registered with Financial Conduct Authority (United Kingdom), Federal Financial Supervisory Authority (Germany), Commissione Nazionale per le Societa e la Borsa (Italy), Autorite de Controle  Prudential (France), and Comision Nacional del Mercado de Valores (Spain).

The broker also has a directive of the European Union’s Markets in Financial Instruments (MiFID II) and is a member of the Financial Service Compensation Scheme, which pays compensation up to the value of £85,000, Investor Compensation Fund (ICF), which also gives compensation funds to investors.

The broker is serious about clients fund protection and provides a safe environment to its clients. 

Rating: 4.5/5

Year founded:2014
Publicly traded: Yes
Licenses: FSA, FCA, CySEC, Labuan FSA, FSCA
Backlist: No

Offering of Investments

Many classes of instruments are available here for portfolio diversification, and they include: 

Forex: The broker has 62 currency pairs, including the major, minor, and exotics pairs. 

Stocks indices and oil – some major international stock indices and oil are also available to traders.

Metals: traders can also speculate on the price of gold and silver. Trading this is done against the U.S. dollar.

Bonds: those interested in making money off the inverse relationship between interest rates and bond price, taking advantage of reassuring government stability, have the opportunities with the broker. 

Cryptocurrencies: Cryptocurrencies can also be traded as CFD. You cannot own the underlying assets.

  • Even though there is a wide variety of instrument classes, the instruments themselves are limited in number. Stocks indices, for example, only have 15 instruments.
  • Cryptocurrencies are only available as CFDs and are also limited in number. 
  • The forex pairs are many, and forex traders have the opportunity to pick assets of interest comfortably.
  • The major forex, indices, metals, cryptocurrency (BTC, ETH, LTC), and bonds are available.

Rating: 4/5

Forex: Spot TradingYes
Currency Pairs (Total Forex pairs)62
Social Trading / Copy-TradingYes
CFDs instrumentsforex, indices, commodities, metals, bond, cryptocurrencies

Commissions & Fees

The broker charges some swap rates, and they apply at 00:00. Each currency pair has its swap charge measured on one standard lot size. Swap charges apply each night to open positions. The swaps can be seen on the MT4 watch panel.[3]

The broker does not charge any amount for withdrawal and deposit. 

Rating: 4/5

Minimum Initial Deposit$100
Average Spread EUR/USD – Standard0.1 pip
All-in Cost EUR/USD – Active0.1 pip
Minimum withdrawal $25

Platforms & Tools 

The broker provides MetaTrader 4 and Webtrader. It also provides some trading tools that could be useful for professionals. 

  • The MetaTrader 4: The MT4 accepts manual trading and Expert Advisors. It consists of more than 50 indicators and customizable charting. You can also access it in 39 languages.

The other tools include the following :

  • Autochartist: Beginner and pro traders can use the autochartist advanced recognition engine to sift through vast amounts of data and identify chart patterns and key price levels across a wide range of forex and CFD instruments. The autochartist filters the noise out the actionable trade opportunities and predicts future movements.
  • Tickmill VPS: With the VPS, you can make your P.C. or automation freely operate even when you are not there. The Tickmill VPS operates on its copy of an operating system and allows you to run automated algorithmic strategies at any time on a remote driver without any effort from you.
  • Myfxbook copy trading allows you to copy the trades of other successful traders working your MT4 account. 
  • Pelican trading: This is an innovative all-in-one mobile auto-copying application that allows you to follow and copy trades from other successful traders. 
  • Advanced trading toolkit: this is a smart-trading MT4 companion that takes your trading to another level. The toolkit has an extensive range of tools.
  • There are other tools like the economic calendar, forex calculators, and one-click trading.

There are many tools that traders can use here which are good for beginners and active traders. The MetaTrader 5 followers may not use this brokerage service if they are not willing to adjust.

Rating: 4.5/5

Virtual Trading (Demo)Yes
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Charting – Indicators / Studies (Total)50+
Charting – Drawing Tools (Total)31
Charting – Trade From ChartYes
Order Type – Trailing StopYes

Education and Research 

There are numerous educational and research tools present on the brokerage platform. These research tools can help in improving your approach to the market. The broker provides:

  • Webinars: provided by its team of expert analysts. There are specific dates for webinars, and they are also taken in different languages. You can access the older webinars on the company’s youtube channel. 
  • Seminars: the seminars are also insightful, and there are links to older seminars conducted on the website.
  • Ebooks: Ebooks also provide some relevant trading strategies. 
  • Video tutorials: There are trading courses in video form that involve forex trading, markets analysis, trading psychology, trading strategies, social trading, stocks, MT4, CFDs, managed accounts, technical indicators, and many more. 
  • Infographics: useful infographics that affect different aspects of trading are also provided
  • Forex glossary: This aspect of the educational tools explains important trading terms expected for every trader to know. They are arranged the way dictionary words are arranged, making words easy to find. 
  • Fundamental analysis: different news and fundamental analysis on the financial markets are also released to help traders know what is going on in a market and what is expected to happen.
  • Technical analysis: You can make informed decisions when combining fundamental analysis with your technical analysis. The analyses are made daily, and they usually concern different markets. 
  • Articles: the articles also revolve around topics like market insight, fund analysis, technical analysis, and they are aimed at providing market insight.

The broker also makes it possible for you to subscribe to weekly newsletters and some other educational content.

  • The research and educational materials are useful for beginners and professional traders as they are provided in a simple, easy-to-understand manner. 
  • Professionals might find them more useful than beginner traders because the broker majors more on guiding people with advanced trading skills than bringing newcomers into the system.

Rating 4/5

Mobile Trading

The broker also has a mobile platform that aids on-the-go trading. You can manage your trades from the mobile platform and create your portfolio, create a watchlist, and do basic analysis. 

The mobile trading app is easy to use with enough customization to help you navigate around without stress. It is available on android, IOS, and windows.

Rating: 4/5

Mobile devices apple, android, etc
Featuresallow making trade, watchlist, charting, alert, etc.

Overall rating: 4/5

Final Thoughts 

Even though the broker does not provide as many instruments as some brokers, it creates a highly regulated trading environment where traders can be assured of the safety of their funds.

The broker has research and educational tools that will enlighten beginners and active traders through the courses and tools are more suited for active and advanced traders. 

To check out the services of the broker you can click here

Overall rating: 4.25/5

Frequently Asked Questions 

How long does it take to withdraw from Tickmill?

Bank withdrawal can take 3 to 7 working days before clients see it. Credit and debit cards are faster and offer same-day withdrawal, but they can also take up to 8 working days, depending on your bank.

Where is the Tickmill server located?

The broker’s servers are in London, United Kingdom. The broker does not offer full information about the exact location because of security reasons. The broker also clarifies that Tickmill broker head office is different from the location of their trading servers.

How do I withdraw money from Tickmill?

  1. To withdraw money, your trading account has to be fully verified.
  2. Select your trading account
  3. Click on your preferred payment method
  4. Choose the amount you wish to withdraw and submit for withdrawal
  5. The broker will send a piece of email information to you to confirm your email when it is processed

Is hedging allowed in Tickmill?

Yes, hedging is allowed in Tickmill. The margin required for trading positions on the classic, pro, and VIP accounts is 0. The broker also allows scalping and does not have limitations for keeping the positions open.

Does Tickmill have Nas100?

Tickmill provides access to a range of tradable instruments like forex, providing more than 60 major, minor and exotic pairs; stock indices also have some assets including the FTSE, DAX, Dow Jones (US30), and NASDAQ (Nas100).

Does Tickmill give a bonus?

The broker offers a $30 welcome bonus, and new traders who register a real account with the broker may receive either a signup bonus, a deposit bonus, or a welcome bonus. These bonuses are known to draw in more clients and also encourage trading activities.

How do I claim the $30 welcome bonus?

  1. Log in to the official website.
  2. Go to the ‘promotion’ page and click on ‘$30 welcome account.’
  3. Sign up for free, and you will get $30.

Can you withdraw the Tickmill bonus?

You cannot withdraw the deposit bonus on Tickmill. You can withdraw the profit made, but you cannot withdraw the deposit amount with it.  

How do I create a Tickmill account?

It’s simple and fast to join the Tickmill trading community

  1. Simply click on ‘sign up’ or ‘create an account on the official page 
  2. Enter the required details like full name, country, email address, etc.
  3. Choose the account type you want, account base currency, leverage, and then create the account 
  4. You can start to trade as soon as you made your deposit.

Does Tickmill allow scalping?

Yes, Tickmill allows scalping, and this technique of trading is also aided by its offering of 0.0 pip spread, the average ultra-fast execution speed of 0.15 seconds. Asides from this, there are no trading restrictions, requotes. The broker also accepts hedging, arbitrage, algorithms, and expert advisors.

Is Tickmill a market maker?

Because Tickmill is a market maker, it has lower entry requirements than ECN brokers that benefit from a higher volume of trades and typically offer larger capital and minimum trade requirements.

Market makers do not charge commissions on trades, offer lower minimum deposits and smaller minimum trades requirements.

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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