After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Coinbase vs TickMill.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. TickMill's score is 4.00 stars versus Coinbase's 2.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. TickMill is regulated in a major hub, while Coinbase is not. Neither Coinbase and TickMill are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. TickMill boasts an offering of 62 different currency pairs compared to Coinbase's available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. TickMill has Meta Trader, Coinbase doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. TickMill boasts an offering of 31 charting tools compared to Coinbase's available charting tools. TickMill offers its clients access to 51 different indicators (for example, volume) while Coinbase has available indicators, a difference of 51.
Overall, both Coinbase and TickMill hold a 3.50 star rating. And, when it comes to individual category awards, unfortunately, neither Coinbase nor TickMill received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.