Tickmill is a reputable financial services company that provides online Forex and CFD trading. Regulated in the UK and Cyprus, Tickmill has been operating since 2015 and has offices worldwide.
When it comes to regulation and security, Tickmill takes it very seriously. They are regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
This means your funds and information are protected. Tickmill also participates in the Financial Services Compensation Scheme (FSCS) which covers up to £85,000 per client.
Overview of Tickmill
Tickmill is a global trading platform founded in 2014, offering access to various financial markets. It provides traders with Forex, indices, commodities, and CFDs trading through advanced technology and competitive spreads. Regulated by prominent financial authorities like the FCA and CySEC, Tickmill ensures a secure trading environment.
The platform caters to both retail and institutional clients, offering a range of account types, including ECN, Classic, and Pro. With user-friendly interfaces like MetaTrader 4 and 5, Tickmill supports algorithmic trading and provides educational resources to enhance traders’ skills.
Is Tickmill Regulated and Secure?
When it comes to trading platforms, security, and regulation should be at the top of your list. Luckily, Tickmill checks both of these boxes.
Is Tickmill regulated?
Yes, Tickmill is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
These are two of the strictest regulators in the industry, so you can trade with confidence knowing your funds and data are secure.
How does Tickmill keep your account and funds safe?
Tickmill takes safety seriously and employs bank-level encryption and two-factor authentication to protect your account. They also keep client funds in segregated accounts at top-tier banks, meaning your money is kept separate from Tickmill’s operating funds.
What if Tickmill goes out of business?
Your funds are protected up to £85,000 by the FSCS (UK) and up to €20,000 by the Investor Compensation Fund (Cyprus) if anything were to happen to Tickmill. But with solid regulation and security practices in place, that risk is very low.
What You Can Trade on the Tickmill Platform
Tickmill offers a variety of assets for you to trade, whether you’re interested in forex, stocks, indices, commodities, or cryptocurrencies.
Forex traders will find over 60 currency pairs to choose from, including major, minor, and exotic pairs. If stocks are your thing, you can buy and sell shares of major companies like Apple, Facebook, and Tesla. For traders who prefer indices, Tickmill offers several popular global indices such as the S&P 500, FTSE 100, and Nikkei 225.
Commodity traders will be happy with Tickmill’s selection of both hard and soft commodities. Trade gold, silver, oil, cocoa, wheat, sugar and more. And if you want to trade the exciting world of cryptocurrencies, you can buy and sell crypto CFDs like Bitcoin, Ethereum, Litecoin, and Ripple on the Tickmill platform.
In addition to the variety of assets, Tickmill also offers competitive spreads, fast execution speeds, and flexible leverage up to 1:500. You can place trades through their web-based platform or mobile apps for Android and iOS.
Whatever you want to trade, Tickmill aims to provide a high-quality trading environment with fair and transparent pricing. They continue adding new assets and features to ensure you have the tools and opportunities to maximize your trading potential.
Fees of Tickmill
Tickmill offers competitive fees and a variety of deposit and withdrawal methods to suit your needs. They aim to make funding and withdrawing from your account as seamless as possible.
Deposits
The minimum deposit to open an account is $100. You can fund your account through credit/debit cards, wire transfers, and e-wallets like Skrill and Neteller. Deposits are instant and free of charge.
Withdrawals
Withdrawals typically take 1-2 business days to process and there are no withdrawal fees. The minimum withdrawal amount is $5. You can withdraw funds through the same methods used to deposit.
It’s important to note that withdrawals must be made through the same channel used for your initial deposit. So, if you deposited via credit card, your withdrawals will need to go back to that same card.
Trading Fees
Tickmill uses a tiered commission structure based on your monthly trading volume. The more you trade, the lower your fees become. For example:
- $0-$50 million: $7 per standard lot
- $50-$100 million: $6 per standard lot
- $100 million+: $5 per standard lot
Swaps are charged for positions held overnight and vary based on underlying market rates. No commissions are charged on cryptocurrency CFDs.
Demo VS Pro Account on Tickmill
| Aspects | Demo | Pro |
| Purpose | Ideal for beginners and traders looking to test strategies in a risk-free environment. | Designed for experienced traders who require competitive spreads, faster execution, and additional features. |
| Funding | Traders receive a set amount of virtual funds to trade with, which cannot be withdrawn or converted to real currency. | Traders need to deposit real money into the account, which can be withdrawn or used for trading at any time. |
| Costs and Spreads | Since trades are not executed in the real market, there are no spreads or commissions involved. | Pro Accounts usually have tighter spreads but may involve commissions, resulting in trading costs. |
| Features | Demo Accounts offer basic features for practicing, such as access to trading platforms and basic technical analysis tools. | Pro Accounts often come with advanced charting tools, custom indicators, algorithmic trading options, and priority customer support. |
| Real vs. Simulated | Trades are executed using virtual funds, allowing users to practice without risking real money. | Traders use their own capital to execute trades in the live market. |
Tickmill Customer Support and Service
Tickmill’s customer service and support is available 24 hours a day, 5 days a week via live chat, email, and telephone. They aim to respond to all inquiries within 1 business day.
Live Chat
The live chat feature on Tickmill’s website and trading platforms allows you to instantly connect with a support agent. This is a convenient way to get quick answers to basic questions about opening an account, making a deposit or withdrawal, platform navigation, and more.
Email Support
For more complex questions or issues, it’s best to contact Tickmill’s support team via email. Send your email to info@tickmill.com and include your account number and a detailed description of your question or problem. The support team monitors this email closely during business hours and aims to reply within 1 business day.
Phone Support
Tickmill’s telephone support line is open 24 hours a day, 5 days a week. Call +44 203 695 3210 to speak directly with a customer service representative. Phone support is best for urgent matters or issues that require an in-depth conversation. However, phone wait times may be longer during very busy periods.
Is Tickmill Legit or Scam
Tickmill is a legitimate online trading platform. It is regulated by respected authorities like FCA and CySEC, ensuring transparency and fund security.
Client feedback is generally positive, and the broker offers educational resources. These factors indicate that Tickmill is not a scam. Always do personal research before trading.
Pros and Cons of Tickmill
Pros:
Low Spreads: Tickmill offers competitive and low spreads on various trading instruments, which can reduce trading costs.
Regulation: The broker is regulated by respected financial authorities, enhancing trust and security for traders.
Multiple Account Types: Tickmill provides a range of account types suitable for both beginners and experienced traders, offering flexibility.
Variety of Instruments: Traders can access a wide range of financial instruments, including forex, commodities, indices, and more.
Technology: Tickmill offers advanced trading platforms and tools, including MetaTrader 4, enhancing trading efficiency.
Cons:
Limited Educational Resources: Compared to some other brokers, Tickmill’s educational resources might be relatively limited, which could be a drawback for novice traders.
Limited Cryptocurrency Options: Tickmill’s cryptocurrency offerings might be narrower than some specialized crypto brokers, potentially limiting options for crypto traders.
Final Thought
Tickmill seems to be a solid broker for forex and CFD trading with competitive fees, a good range of tradeable assets, and strong regulation. Their customer support is available 24 hours a day if you run into any issues.
While no broker is perfect, Tickmill checks most of the important boxes for a trustworthy brokerage. If you’re looking to dive into forex trading or want to switch from your current broker, Tickmill is worth your consideration.
