Tickmill Review

Tickmill is an international broker for trading Forex, commodities, cryptocurrencies, bonds, and CFDs. This platform is quite popular and has already been used by many traders from various countries. Here, we will discuss this platform further, covering its advantages and disadvantages, regulation and security, account types, and comparisons with other platforms.

Tickmill Overview: A Trusted Broker with Various Advantages

Tickmill is a popular broker that offers trading access to various instruments, ranging from forex to over 500 stock CFDs. The platform is known for its focus on innovative trading solutions and has excellent trading conditions. This forex broker also offers many languages, making it easier for beginners to trade.

Pros & Cons

This broker certainly offers many advantageous benefits, such as:

• It is already trusted and has received numerous awards that prove its quality.
• Able to provide a good trading experience with the lowest spreads and commissions.
• Has branches in various countries.
• Regulated by top-tier financial authorities such as the FCS in the UK.
• It has a perfect track record as it has never been involved in scandals or regulatory issues.
• Tickmill has an average monthly trading volume of 200 billion.

Besides its advantages, this platform also has some drawbacks that are important to note:

• Its investment range is considered lagging compared to other top multi-asset competitors.
• Currency pair options are more limited than other top-tier competitors.
• No VIP account is available for its users.
• There are no trust management or copy trading features.
• Customer support operates only five days a week and cannot provide assistance around the clock.

These shortcomings can certainly be bothersome for traders, especially beginner traders who often need help at any time.

Tickmill is definitely safe and trustworthy. This platform is authorized by top-level regulators, namely the FCA, CySEC, FSA, FSCA, and is also regulated in the European Union through the MiFID passport system.

For security, the platform ensures safety by segregating client funds from company funds, so the funds remain safe if the company goes bankrupt. In addition, there are negative balance protection features and various other safeguards.

This platform offers various trading platforms ranging from MetaTrader 4, MetaTrader 5, to WebTrader, which is Tickmill’s web-based trading platform. Supported devices are also diverse, including desktop, web browsers, tablets, as well as iOS and Android mobile devices.

Tickmill offers several types of accounts, namely Classic, Raw, Free Swap, and also Demo accounts which are available on all platforms.

• The Classic account offers variable spreads starting from 1.6 pips with no commission, making it suitable for traders who do not want to pay commissions or for beginner traders.
• The Free Swap account complies with Islamic law as it is swap-free, making it suitable for Muslim traders.
• The Raw account offers very low spreads, even 0.0 pips, with low commissions. This account is ideal for active traders who want competitive transaction costs.
• Lastly, the Demo account is a virtual account for practicing trading without using real money. This account is suitable for all traders who are new to trading.

This platform also offers many popular instruments ranging from forex, stock indices, precious metals, bonds, and many more. In addition, this broker also offers cryptocurrency trading such as Bitcoin, Litecoin, Ethereum, Cardano, Ripple, EOS, Stellar, and Chainlink.

Tickmill is a broker that does not charge fees for deposits or withdrawals, making it more profitable for traders. However, there is a spread cost, which is the difference between the buying and selling price on a Classic account. Meanwhile, on Pro/Raw accounts, the spread is very low, even zero, but there is a $3 commission per lot per side.

There are several ways to make deposits and withdrawals, ranging from bank transfers, debit cards, credit cards, Skrill, Neteller, FasaPay, and UnionPay. Processing time is instant or 1 business day, except for bank transfers which require 2–5 business days. The minimum deposit is $100 and the minimum withdrawal is $25.

To support and assist traders who face difficulties, there is a live chat feature with customer support. In addition, there is also a contact form on the website as well as a phone number that traders can call. This broker also offers assistance via email at [email protected], which is available 24 hours on working days.

Tickmill offers a variety of educational materials and trading training programs that are certainly important for its users. There are courses, trading guides, webinars, and instructional videos. Users, especially beginner traders, can learn many things ranging from technical analysis, risk management, fundamental analysis, to trading psychology.

On Trustpilot, this platform has a rating of 3.6/5 with 1,078 reviews. Users stated that the platform does have a neat layout and can execute orders quickly without causing problems. Depositing with a card is also easy and instant.

However, some users also feel unhappy because the spreads are very high on Raw accounts during normal trading hours and the prices are not transparent. There are also those who have issues with incomplete withdrawal proofs and feel that the cryptocurrency options are too limited.

Tickmill has several strong competitors, such as IC Market. This platform offers advantages in terms of its minimum deposit of $100 and a superior trust score of 86. However, the symbols that can be traded through this broker are fewer, only 637.

Meanwhile, on the IC Market platform, it indeed offers a higher minimum deposit of $200. Its trust score is slightly lower at 84. However, IC Market offers more tradable symbols, up to 3,583.

If traders prioritize a smaller deposit, Tickmill is certainly the choice. But if traders want more tradable symbols and don’t mind a higher minimum deposit, IC Market is the choice.

Final Verdict

Tickmill is a trusted and safe broker that is worthy of being the primary choice. This platform offers many advantageous features, provides several account types to choose from according to preference, and also offers numerous trading platforms and instruments, as well as various educational programs that are very helpful for beginner traders. With all these advantages, it is no wonder that this platform is becoming increasingly popular and a choice for many people from different countries.