Tickmill Review 2019 | Is Tickmill a Scam or Legit Forex Broker?
Rating breakdown
Tickmill Overview
Tickmill is a brokerage business that was established in 2014, to offer traders the opportunity to trade FX and Contracts-for-Difference assets on an online platform.The Tickmill brand is owned and operated by three subsidiary companies known as Tickmill Ltd (Seychelles), Tickmill Europe Ltd (EU) and Tickmill UK Ltd (United Kingdom).
| # | Broker's Features | TICKMILL Availability |
|---|---|---|
| # | Commissions | ❌ |
| # | Hedging | ✔ |
| # | PAMM | ❌ |
| # | Scalping | ✔ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ✔ |
| # | Swaps | ✔ |
| # | Demo account | ✔ |
| # | Daily analysis | ✔ |
| # | Automated trading | ❌ |
| # | Mobile trading | ✔ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ✔ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ❌ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Tickmill.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Tickmill offers Online Financial Trading and Investment Services Such as Forex, Stock Indices, Commodities, CFDs, Precious.
Tradable Products: Tickmill offers trade in 60 currency pairs, 2 Metals, 17 Stocks and Indices, and 4 Bonds.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Tickmill is ECN, STP.
Features: Tickmill offers the MT4 platform which comes with inbuilt indicators, in-depth charting and EA’s which are electronic trading strategies for automated trading.
Tickmill allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Tickmill offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Tickmill recommended minimum capital is $100.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Tickmill is regulated by FCA UK, CySEC, FSA Seychelles. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: Investor protection on Tickmill is done at three levels: regulation and account segregation, through negative balance protection and the regulator’s compensation fund.
Account currencies: Next lets consider the Account currencies each broker offers. Tickmill offers USD, EUR, GBP, PLN different account currencies for each account types.
Account Openning: Tickmill offers 3 types of accounts with spreads starting from 1.6 pips on EUR/USD in Classic account. The Pro account is the most popular.
Tickmill offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.
Languages Available: Next lets have a look at each broker's different Language options. Tickmill offers English, Russian, Chinese, Indonesian, Spanish, It.
Payment methods: Next lets have a look at each broker's payment options. Tickmill offers Bank Transfer, Credit/Debit Cards, Debit Card, Skrill, Ne different payment methods for each account types.
Deposit and withdrawal: Deposits and withdrawals can be made through credit and debit cards, bank wires and e-wallets. Tickmill charges no fees for transactions and processing time takes around a day.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Tickmill makes MT4, WebTrader available to clients.
Trader Education
Tickmill offers webinars video tutorials and education articles.
Promotions
Tickmill offers a $30 welcome bonus which is available for clients of Tickmill Seychelles. They also offer trading contests. No bonuses on offer for Europe or UK branches.
Support
Contact Tickmill in 14 different languages over the phone, Live Chat or email.
Recup
Tickmill has recognized that traders all over the world do not have the same circumstances. Therefore, the product offering and trade conditions differ. Traders who want higher leverage can go to Tickmill Seychelles, while those who can play by the ESMA rules can go to Tickmill UK or Europe. This gives traders a lot of flexibility.
Final Thoughts
A drawback may be that the MT4 is the only platform offered. So traders who are not used to the MT4 may have some issues adjusting.