Tickmill Review

The Tickmill Group was founded in 2014 and has experienced a remarkable growth trajectory ever since. Regulated in three jurisdictions, it has over 111,000 traders with more than 263,000 accounts. The company fulfilled in excess of 215 million trades, while the average monthly trading volume eclipsed $123 billion. This CFD broker employs over 150 staff members globally, executes its business model well, and strives to continually form partnerships that will improve trading conditions for its expanding client base.
 

1:500
Leverage

Tickmill is a new way of trading with extremely low market spreads, no requotes, true STP and DMA, absolute transparency a...

Review

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Terms & Conditions

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Account Types

Traders may select between three distinct account types. The minimum deposit for the Classic account of $100 matches that of the Pro account, where assets are priced competitively for a commission of $4 per lot, making the Pro account the superior choice. Once the account balance exceeds $50,000, an upgrade to the VIP account is executed; the primary benefit in the VIP account is a reduction in the commission to $2. This broker does not charge a commission for index CFDs, oil, or bonds. Tickmill grants maximum leverage of 1:500 in all accounts opened through the Seychelles regulated entity. Swap rates on exotic currency pairs in the Islamic account are levied on the fourth day of overnight positions.

The Tickmill Pro account grants a competitive trading environment.

Trading Platforms

The MT4 trading platform is advertised as enabling a cutting-edge, world-class trading environment, which is common among brokers focused on the retail sector. While it has the capability, third-party plugins are required to unlock its full functionality. Tickmill offers only the most basic version of the MT4 platform, and while numerous free upgrades are available, those considered critical come at a price.

Only a basic version of MT4 is provided to traders. Tickmill should consider that an upgraded version would boost its appeal.

What you can trade?

Tickmill is primarily a Forex broker, as evident in its asset selection. With 62 currency pairs available, currency traders have elevated exposure to their core market. Those seeking proper cross-asset diversification may be disappointed; the asset selection at this broker is comprised of nine index CFDs, three commodities, and four bond CFDs. The absence of cryptocurrencies is the most evident missing asset class, but we have hopes that it may be added sometime in the future to round out this broker’s offerings.

The 62 currency pairs provide Forex traders with adequate trading opportunities.

What are Tickmill's spreads & fees?

Like most brokers, Tickmill takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on Tickmill’s website.

ickmill’s minimum spread for trading EUR/USD is 0.2 pips – which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Tickmill vs. similar brokers.

Leverage

The maximum leverage available is 1:500, but varies depending on the asset:

Stock indices – 1:100
Metals – 1:500
Bonds – 1:100
Oil – 1:100
FX- 1:500

Margin calculator and detailed information regarding margin requirements can be found on the Tickmill website.

Bonuses and Promotions

Tickmill hosts four bonus and promotion campaigns. The Trader of the Month promotion requires no sign-up as every live account participates. $1,000 is awarded to the winner, but it remains unclear if this is a cash price or a non-withdrawable deposit into the trading account. A prize of either $200 or $500 (dependent upon the accuracy of the guess) is deposited into the trading account of the NFP Machine winner, a contest held during NFP week each month. New trading accounts may be provided with a $30 deposit, which cannot be withdrawn, but any profits generated are for traders to keep. A four-months long contest focused on referrals, known at Tickmill as the IB contest (Introducing Broker) is also held annually. The prize for the winner is either a complete travel package to London, New York, and Singapore, or else one of over $10,000 (equivalent) in prizes.

Deposits and Withdrawals

Tickmill supports bank wires, credit/debit cards, Skrill, Neteller, Sticpay, Fasapay, Unionpay, NganLuong, QIWI, and WebMoney. The minimum deposit and withdrawal amounts are $100 and $25, respectively. Processing times range between instant and seven business days. While this broker waives most fees, third-party charges generally apply. Tickmill covers fees for wire deposits above $5,000, up to $100. Not all options are available to all traders, and withdrawals will be returned to the same processor used for the deposit.

Tickmill supports a broad selection of payment processors.

Tickmill Short Review

Final Thoughts

1:500

Tickmill is a new way of trading with extremely low market spreads, no requotes, true STP and DMA, absolute transparency and innovative trading technology. Our mission is to provide you with the best possible trading environment so you can focus on trading and become a successful trader.

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