Comprehensive Review of Tickmill
Tickmill, founded in 2014, is a globally recognized forex and CFD broker known for its competitive trading conditions and reliable platforms. With its focus on transparency and client satisfaction, Tickmill has gained a strong foothold in the trading industry. This article explores Tickmill’s regulation, account types, platforms, fees, and overall user experience.
Regulation
Tickmill operates under multiple top-tier authorities to ensure the security and transparency in trading environment. These are:
Financial Conduct Authority (FCA) – UK: Ensures rigorous adherence to financial regulations for operations in the UK.
Cyprus Securities and Exchange Commission (CySEC): Provides robust regulatory oversight in the European Economic Area.
Financial Services Authority (FSA) – Seychelles: Provides additional global coverage.
Financial Sector Conduct Authority (FSCA) – South Africa: Covers operations based in Africa.
This multi-regulatory framework further enhances the credibility and commitment of Tickmill to client protection.
Foundation Date
Tickmill was founded in 2014. The company has rapidly grown to become a reputable name in the trading industry. Its focus on innovation and customer-centric services has allowed it to attract a global client base.
Key Features
Some of the standout features offered by Tickmill include:
Tight Spreads: Spreads starting from 0.0 pips on certain account types.
Low Commissions: $2 per lot per side on Pro accounts.
No Requotes: Fast and reliable trade execution.
Diverse Asset Range: forex, indices, commodities, bonds, and cryptocurrencies.
Negative Balance Protection: Ensures that the client will not lose more than his deposit.
Advanced Trading Tools: Autochartist and VPS services
Trustpilot Rating and Market Review
Tickmill has a rating of 4.5 out of 5 on Trustpilot, based on hundreds of reviews. Users often comment on:
Competitive Trading Conditions: Spreads are friendly, and the commission is very low.
Fast Withdrawals: Quick processing of deposits and withdrawals.
Customer Support: Helpful and knowledgeable support.
Some complaints raised by the clients are:
Less Asset Offerings: Less number of instruments as compared to other competitors.
Platform Choice: Limited to MetaTrader, which might not be favorable for all traders.
Account Types and Platforms
Tickmill offers a variety of accounts that will suit different needs of the trader:
Classic Account: Suitable for beginners, as it has no commission and the spread starts at 1.6 pips.
Pro Account: Suited for professional traders with spreads starting from 0.0 pips and with a fixed commission of $2 per lot
VIP Account: High volume traders are catered to with much lower commissions and tighter spreads.
Islamic Account: Swap-free accounts for traders of the Islamic finance perspective.
Trading Platforms
Tickmill offers one of the industry-standard MetaTrader platforms:
MetaTrader 4 (MT4): Though very simple, this has advanced charting tools and facility for algorithmic trading.
MetaTrader 5 (MT5): Provides additional features for professional traders, including more time frames and order types.
Fees and Charges
The Tickmill’s fee structure is transparent:
Spreads: Starting with 0.0 pips on Pro and VIP accounts.
Commission: $2 a lot on each side for Pro accounts; better fees for VIP accounts.
Swap Fees: Is applied to overnight positions. Swap-free options are possible.
Deposit/withdrawal fees: Most payment methods are free, except for third-party-related fees.
Copy Trading Feature
Although Tickmill does not have its proprietary copy trading platform, it connects with third-party services like Myfxbook AutoTrade, allowing users to copy trades from top performing traders.
Deposit and Withdrawal Convenience
Tickmill allows a wide range of payments for its worldwide customers:
Bank Transfers: Available as both domestic and international transfers
Credit/Debit Cards: Visa and Mastercard
E-Wallets: Supported Neteller and Skrill
Cryptocurrencies: It accepts prominent digital currencies on deposits and withdrawal.
Minimum Deposit: Most account types begin at $100.
Processing Times: Most deposits are instant, and withdrawals take 1-2 business days.
Fee-Free Options: Transaction fees for most payment options are absorbed by Tickmill.
Bonuses and Offers
Tickmill periodically holds promotional campaigns, including:
Welcome Bonus: A $30 no-deposit bonus is available for new clients.
Trading Contests: Cash prizes and other forms of awards can be won.
Referral Programs: New traders can be rewarded for introducing them to the platform.
Customer Support
Tickmill offers strong customer support through various channels:
Live Chat: This is available during business hours to get immediate assistance.
Email Support: This is for detailed questions and account-related issues.
Phone Support: This is available for direct communication with the support agents.
Moreover, Tickmill has an extensive FAQ section and a wealth of educational resources, such as webinars, tutorials, and market analysis.
Potential Drawbacks
Despite the numerous benefits offered by Tickmill, it has a few drawbacks:
Limited Platforms: Only MetaTrader 4 and 5 are available, which may not be attractive to all traders.
Asset Range: Fewer assets than other brokers that offer a wider range.
Swap Fees: Overnight fees can add to the cost of holding some positions.
Tickmill is a reputable and well-regulated broker with competitive trading conditions, low fees, and user-friendly platforms. While it might lack some of the more advanced features or broader asset range, the focus on transparency and efficiency makes it a good choice for beginners and more experienced traders alike. Tickmill is one of the top options for anyone seeking a reliable and cost-effective trading experience.
