Tickmill Reviews 2024: Features, Cost & Alternatives
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Tickmill is a broker on the MetaTrader platform that has great pricing for professional traders with its VIP and Pro accounts. They also have account types for anyone trying to access the financial markets.
Pros
- Great pricing on VIP and Pro accounts
- Great MetaTrader broker
- Highly trusted and regulated for forex and CFD trading
Cons
- Could be more tradeable securities available
- Classic account pricing could be better
- Forex and CFDs trading
- Option for options and futures trading
- Research and education material
- Tickmill Uk Ltd.
- Founded in 2014
- Regulated in one Tier-1 jurisdiction and two Tier-2 jurisdictions
The broker Tickmill is a standard broker for MetaTrader with a pretty good selection of tradeable securities. They have some commission-based pricing on retail investor accounts which is competitive with other offers in the space.
Having been operating for nearly a decade now, Tickmill is seen as a trusted name among many forex traders. This is supported by the fact they’re regulated by a number of different jurisdictions, including the Seychelles Financial Services Authority, the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission, UK Financial Conduct Authority, Labuan Financial Services Authority in Malaysia, and others.
So, Tickmill clients like how regulated they are, which gives them confidence in the trading accounts they make on the platform. Continue reading below to see our Tickmill review.
Read More: Is Forex Trading Profitable?
Tickmill Advantages
Let’s begin our Tickmill review by talking about the biggest advantages of using the platform as a forex broker.
- Low Forex Trading Fees: The first thing that Tickmill users enjoy is low forex-trading fees. Especially when compared to other forex brokers, this is a plus of using Tickmill as your trading platform.
- Reputable MetaTrader Brokers: Another bonus of using Tickmill is that it’s widely trusted as a MetaTrader broker. MetaTrader is a commonly used trading platform among traders, so it’s a good sign that it’s so compatible with it. This is because traders can use MetaTrader as their training platform, though they also need to work with a broker in order to execute the trades, like Tickmill.
- Competitive Account Price: Many also point out that Tickmill has great pricing, especially on Pro and VIP account types for professional investors to implement their trading strategies.
- Free Deposit & Withdrawal: There are many different ways to deposit and withdraw money from Tickmill to and from your bank account, all at no fees–including a bank transfer, PayPal, and more. There is a minimum deposit on the platform of $100 in order to get started, and you may need to maintain different account minimums based on the type of account you have on the site.
Tickmill Features & Prices
Now we can continue our Tickmill review by covering the features and prices of using their site to access the financial markets.
Investment Offerings
First, they have 295 total tradeable symbols. Some other platforms have more and give users access to more financial markets, though this is a good amount for you to run your strategy with.
This includes CFDs on currency pairs, stock indices, commodities like metals, bonds, and crypto. Plus, traders can also access 62 symbols for futures and options trading, though this is done through a separate account.
Trading Account: Commissions & Fees
We can now review the different types of accounts that Tickmill offers, and the features that are included with each.
Classic Accounts
The Classic Account is the most basic level, this is a commission-free account, and traders will only pay the bid/ask spread. Even still, many point out that this ends up being higher than the spreads on the other two accounts offered by Tickmill.
Pro and VIP Accounts
Tickmill is particularly known for their pricing on their Pro and VIP account options for institutional clients.
Both accounts have a per-trade commission, which is added to lower prevailing spreads. So, given the low commission rate, the low-cost spreads, and the number of instruments and currency pairs offered, many see the Pro account as superior.
The VIP account requires a minimum balance of $50,000 to be maintained, though this gives you access to a low commission of $1 per standard lot. The Pro account requires just a minimum deposit of $100, though commissions are double.
Market Research & Education
Another thing that users like about the trading platform is that they gain access to helpful market research and education when they open up an account. So whether you’re new to trading CFDs or are just getting started with a welcome account, you can learn how to access the global forex market with Tickmill for a seamless trading experience and great market insights from the Tickmill team.
Customer Service & Security
The Tickmill team is available to help you with any issues as needed. Their team is comprised of over 250 individuals, serving more than 327,000 customers.
Tickmill Quick Overview
Best Overall Value
- Mobile trading platform
- Good broker for MetaTrader
- Great pricing on trading services
Tickmill Customer Reviews
Tickmill has garnered some pretty good reviews from customers on Trustpilot with a 4.1/5-star rating. Let’s take a look at what some of them have to say.
Deposit was fast and easy. There’s an option to open an account using your business license too which is great if you want to use your company’s funds to trade. Unfortunately, sometimes the spread could be quite huge for gold till the pending order wasn’t triggered. Stop loss wasn’t tight also as it usually will close my trade a few pips more than my set stop loss. Haven’t got the chance to try withdrawal yet as I kept losing for the time being.
Nicholas
Tickmill is super competitive in terms of its trading fees and spreads. Tickmill is a safe and credible regulated broker with a low minimum deposit. I always feel easy with Tickmill services that give me the best trading experience. The most trader like me likes in Tickmill pro account commission is one of the lowest in the world and no commission on CFDs, Stock Indices, cryptocurrencies, Oil and Bonds.
Zainal
Deposit and withdraw very fast. the team management in Malaysia also very helpful if I have any problem with my trading account. Recommended.
Muhammad
For me, the best broker on the market. seriousness, competence, honesty, customer service, quick withdrawals, and one of the lowest spreads on the market. I’ve been a customer for almost four years and I’m 100% satisfied! I recommend it to everyone…
Barney
Tickmill Review
Review of Tickmill
Overall Pricing and Value | 92.5%
| 92.5% |
Cost Value | 95%
| 95% |
Customer Support | 90%
| 90% |
Ease of Use | 95%
| 95% |
Included Features | 90%
| 90% |
Let’s do a final review to see if Tickmill is a good fit for your needs.
Is Tickmill Right For You?
Tickmill is a great broker to access the financial markets with, and they even offer mobile trading for those who need it. It’s easy to set your account up and get it funded from your bank accounts. While other platforms have more trading instruments available, many institutional investors like accessing the global markets through Tickmill given its favorable pricing structure and straightforward interface.
Cost Value
Many points out that the cost value of the VIP and Pro accounts is favorable and very competitive with other platforms for active traders. However, their Classic welcome account could have a better fee structure, though it’s completely free to use.
Customer Service
Tickmill offers 24/5, multilingual support for its users. This is very convenient for their global user base and is a great feature to take advantage of if you have any questions about your account management, how to make a bank transfer to make your initial deposit, use the demo account, and more.
Ease of Use
The platform is easy to use and set up, which we see as a plus for traders. The trading conditions on the mobile trading platform are also straightforward, which not all brokers offer.
Included Features
There are many great features that you can access from Tickmill, including their CQG platform for trading options and futures. In addition to this, you can access great research and educational material from the Tickmill team, including a demo account to practice trading, other trading tools that help you with fundamental and technical analysis, and more.
Overall
All in all, Tickmill is a standard broker for trading, which is highly compatible with the MetaTrader platform and is widely trusted across the industry. With nearly 10 years of experience, they have proven themselves to be a mainstay for investors, especially with the great pricing on their VIP and Pro accounts that a professional trader would enjoy. However, many wish that there were more tradeable securities and markets available.
2 Top Tickmill Alternatives
eToro | Interactive Brokers | Tickmill | |
Account Minimum | $50 | $100 | $100 |
Award | Editor’s Choice | Best for Advanced Users | Best for Institutional Investors |
Rating | 4.8/5 | 4.7/5 | 4.6/5 |
Detail | Read Review | Read Review | Read Review |
Link |
eToro
eToro is a great broker to utilize, especially known for its copy-trading feature. Many find that eToro is simple to use, and like that traders can copy successful trades from experienced traders, or even share their own successes for additional compensation once they reach certain qualifications. There are over 3,000 assets that can be traded, and they have a great educational training platform that makes it a good match for beginners, though the price could be more competitive.
Interactive Brokers
Interactive Brokers is one of the most trusted brokers out there. They have a wide range of tradeable assets available to users and offer very competitive fees on their accounts. Overall, traders like them for their fee structure, available securities, research and education, and their intuitive platform. However, their advanced features make them better suited to experienced traders.
Conclusion
For a platform where traders can execute their trading strategy with the MetaTrader trading platform and enjoy a broker that is highly trusted, Tickmill is one to consider. While no type of investing comes without risks, using a broker that is regulated is a good place to start when they want to be more active with their investment portfolio.
Frequently Asked Questions (FAQs)
They have regulatory status with financial authorities in a number of countries around the world, including the United Kingdom, Cyprus, Seychelles, South Africa, and Labuan in Malaysia.
Yes, you can trade CFDs on currency pairs through Tickmill.
There are three different account types they offer, including Classic, Pro, and VIP.
ABOUT THE AUTHOR
ABOUT THE REVIEWER
+ 5 sources
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Tickmill is rated “Great” with 4.1 / 5 on Trustpilot. Trustpilot. Accessed February 27, 2023. https://www.trustpilot.com/review/www.tickmill.com
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Financial Services Authority. Financial Services Authority Seychelles. Accessed February 27, 2023. https://fsaseychelles.sc/
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Trading Account Types. TICKMILL. Accessed February 27, 2023. https://www.tickmill.com/trading/accounts-overview
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Weekly Live Market & Trade Analysis – Education | – Tickmill. TICKMILL. Accessed February 27, 2023. https://www.tickmill.com/education/webinars/97472458855/1677762000000
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Foreign currency exchange (forex) | Investor.gov. www.investor.gov. Accessed February 27, 2023. https://www.investor.gov/introduction-investing/investing-basics/glossary/foreign-currency-exchange-forex