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Tickmill Review

Steven Hatzakis

Steven Hatzakis | September 17th, 2019

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Tickmill is a vanilla MT4 broker that offers a small selection of tradeable securities and lacks standout features. For the best rates, agency execution and competitive commission-based pricing can be found with Tickmill's VIP and PRO accounts.

  • Founded in 2015, Tickmill is a vanilla MetaTrader broker that offers poor customer service and only MT4 with no notable upgrades to enhance the trader experience.
  • While Tickmill is regulated, it has only four years of business operation and trails Trust leaders like IG, Saxo Bank, and CMC Markets.
  • Pricing at Tickmill varies by account type. Overall, the broker is not a stand out for low-cost trading.
  • While Tickmill's research offering is slightly above the industry standard, it is far from challenging industry leaders such as Saxo Bank and IG.
  • No matter how you slice the data, compared to other top-rated MetaTrader brokers, our testing found Tickmill fails to stand out. There are better choices, across the board, in the areas important to traders such as copy trading.
FeatureTickmill
Overall 3.5 Stars
Trust Score81
Offering of Investments 3.5 Stars
Commissions & Fees 4 Stars
Platform & Tools 3 Stars
Research 3 Stars
Mobile Trading 3.5 Stars
Customer Service 2.5 Stars
Education 2.5 Stars

Is Tickmill Safe?

help 81
Trust Score

Tickmill is considered average-risk, with an overall Trust Score of 81 out of 99. Tickmill is not publicly traded and does not operate a bank. Tickmill is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). Tickmill is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

FeatureTickmill
Year Founded2015
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses1
Tier-2 Licenses1
Tier-3 Licenses1
Trust Score81

Offering of Investments

The following table summarizes the different investment products available to Tickmill clients.

FeatureTickmill
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs)62
CFDs - Total Offered23
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

Tickmill offers three accounts. The Classic account is a commission-free account, in which traders just pay the bid/ask spread. The other two accounts, PRO and VIP, are both commission based and have a per-trade commission added to lower prevailing spreads.

While the VIP account requires a minimum balance of $50,000 for traders to access low commissions of $1.6 per standard lot (100k units) or $3.2 per Round-Turn (RT), the PRO account has similar pricing with an RT commission of just $4 per standard lot, and can be established with as little as $25.

Using typical spread data listed by Tickmill for its ECN PRO account offering of 0.2 pips for the EUR/USD, the all-in cost equates to 0.52 pips when factoring in the RT commission equivalent of 0.32 pips. It is worth noting that Tickmill records typical spread data during normal market conditions (when spreads are narrower).

With a low commission rate, the PRO account will be more ideal for most traders compared to the Classic and Standard accounts, as spreads are inherently lower and 80 instruments, including 62 currency pairs, can be accessed. Meanwhile, active traders are eligible for further discounts, depending on their trading volumes in the VIP account, giving TickMill competitive all-around pricing.

FeatureTickmill
Minimum Initial Deposit$25.00
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - Active0.600
Active Trader or VIP Discounts Yes

Platforms & Tools

Tickmill is a MetaTrader-only broker offering the standard, out-of-the-box experience, for just MT4. Unfortunately, there are no notable add-ons to help Tickmill stand out among the best MetaTrader brokers.

Gallery

FeatureTickmill
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Research

Tickmill offers several third-party research solutions, including AutoChartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. AutoChartist is available via Tickmill's web portal and as a platform plugin for MetaTrader.

In addition to the native Signals market available in MT4, Tickmill also offers the AutoTrade feature of Myfxbook for social copy trading. Myfxbook also powers the firm’s economic calendar. In addition, TickMill offers margin, pip, and currency calculators, as well as VPS hosting, which is useful for algorithmic traders using MT4.

Aside from news headlines streaming in the trading platform and AutoChartist, TickMill has a team of several analysts that produce technical and fundamental analysis posts on the company’s blog throughout the trading week.

To complement its research, Tickmill also offers archived webinars and educational videos, alongside news updates on its YouTube page.

Gallery

FeatureTickmill
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs Yes
Economic Calendar Yes

Mobile Trading

Since TickMill is a MetaTrader-only broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.

Gallery

FeatureTickmill
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / Studies30
Charting - Draw Trend Lines Yes
Charting - Trend Lines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave No
Forex Calendar No

Customer Service

For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 6 / 10
  • Average Professionalism Score: 3.6 / 10
  • Overall Score: 5.8 / 10
  • Ranking: 35th (43 brokers)

Final Thoughts

All in all, less competitive pricing on specific account types, Tickmill left us unimpressed. For traders seeking a vanilla MT4 broker that permits a variety of automated strategies will want to choose Tickmill's FCA-regulated entity. On the other hand, clients in other jurisdictions may opt for the firm’s offshore entity, which offers similar pricing and trading products/platforms. Regardless, there are far better forex brokers for traders to choose from.

About Tickmill

Founded in 2015, Tickmill was formed after Armada Markets moved its retail clients to Tickmill's entity in Seychelles, which is regulated by the Financial Services Authority (FSA). Tickmill then acquired an additional regulatory license in the UK under a new entity to expand its reach.

The Tickmill brand is also the trading name of TMILL UK Ltd, which is regulated in the UK by the Financial Conduct Authority (FCA) with passports throughout the EU under MiFID regulations.

In 2017, Tickmill acquired Vipro Markets, a broker regulated in Cyprus by the Cyprus Securities & Exchange Commission (CySEC), further broadening the scope of its offering.

2019 Review Methodology

For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers over a six month time period. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.


Steven Hatzakis

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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