Tickmill Review 2019

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TickmillReview

“This review showcases the FX and CFD brokerage brand is known as Tickmill which operates from Europe, the United Kingdom and Seychelles. The brand is collectively managed by a group of subsidiary companies, all operating under the Tickmill Group. The brand was established in 2015, and specializes in the provision of FX and CFD brokerage to qualified traders.”

Tickmill Video Review

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Introduction

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).  Tickmill offers various deposit options, all of which are based on fiat currency. Cryptocurrency-based deposits are not supported.

Tickmill’s business model is that of an NDD broker – that means a Non-Dealing Desk broker. Rather than taking on the other side of the trades themselves they pass them on to third party liquidity providers, who provide the liquidity and take the exposure. This means that Tickmill never has a conflict of interest with their clients.

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.”

Broker regulation is a hallmark of Tickmill’s offering. The brand operates with regulatory licensing from Seychelles and the United Kingdom. In the UK, Tickmill (UK) Limited is authorized and regulated by the Financial Conduct Authority with license no. 717270. The FCA requires all brokers it regulates to put up the regulatory information on their homepage; Tickmill is compliant with this directive. Regulatory information on Tickmill on the FCA website can be viewed here. You can also view the regulatory information for Tickmill Europe Ltd on the CySEC website here.

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Tickmill Ltd operates the brand in Seychelles, and it is regulated there as a Securities Dealer by the Financial Services Authority of Seychelles with license number SD 008.
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In Europe, the Tickmill brand operates as Tickmill Europe Ltd, and is licensed by various European regulatory agencies as follows:

  • Authorized and regulated by the Cyprus Securities and Exchange Commission (CIF Licence number 278/15)
  • Tickmill Europe Ltd (ex Vipro Markets Ltd) is registered with the UK Financial Conduct Authority – FCA (Registration number: 733772)
  • the German Federal Financial Supervisory Authority – BaFin (Registration number: 146511),
  • the French Autorité de Contrôle Prudentiel et de Résolution – ACPR (Registration number 75473)
  • the Italian Commissione Nazionale per le Società e la Borsa – CONSOB (Registration number 4310)
  • the Spanish Comisión Nacional de Mercado de Valores – CNVM (Registration number: 4082) )
  • MiFID II compliant under the Investment Services and Regulated Market Law of 2017 (Law number: 87(Ι)/2017).

Digital protection comes from cyber-security, which is aimed at protecting user data and securing the payment gateways used for account deposits and withdrawals.

Investor protection comes from the regulator’s end. Regulations by CySEC and the FCA require all funds belonging to clients to be segregated in selected banks, away from the operational funds of the company. Furthermore, investor compensation fund membership by the broker is mandatory. Tickmill is, therefore, a member of CySEC’s Investor Compensation Fund, as well as FCA’s Financial Services Compensation Scheme (FSCS). Such funds are pooled from contributions by regulated brokers, and can provide compensation to investors if financial impropriety causing loss of traders’ funds is proven.

Finally, the broker offers negative balance protection, meaning a trader’s account can never go into minus. This is an excellent feature for traders.

Tradable Products

“Tickmill offers trade in 60 currency pairs, 2 Metals, 17 Stocks and Indices, and 4 Bonds.”

Here is the comprehensive list of assets listed for trading on the Tickmill platforms.

Currencies

  • AUDUSD
  • EURUSD
  • GBPUSD
  • NZDUSD
  • USDCAD
  • USDCHF
  • USDJPY
  • AUDCAD
  • AUDCHF
  • AUDJPY
  • AUDNZD
  • CADCHF
  • CADJPY
  • CHFJPY
  • EURAUD
  • EURCAD
  • EURCHF
  • EURGBP
  • EURJPY
  • EURNZD
  • GBPAUD
  • GBPCAD
  • GBPCHF
  • GBPJPY
  • GBPNZD
  • NZDCAD
  • NZDCHF
  • NZDJPY
  • EURCZK
  • EURDKK
  • EURHKD
  • EURHUF
  • EURMXN
  • EURNOK
  • EURPLN
  • EURSEK
  • EURSGD
  • EURTRY
  • EURZAR
  • GBPCZK
  • GBPDKK
  • GBPHKD
  • GBPHUF
  • GBPNOK
  • GBPPLN
  • GBPSEK
  • GBPTRY
  • GBPZAR
  • NZDSGD
  • USDCNH
  • USDCZK
  • USDDKK
  • USDHKD
  • USDHUF
  • USDMXN
  • USDNOK
  • USDPLN
  • USDRUB
  • USDSEK
  • USDSGD
  • USDTRY
  • USDZAR

Metals

  • XAU/USD (gold)
  • XAG/USD (silver)

Indices

  • AFRICA40
  • AUS200
  • DE30
  • FRANCE40
  • HK50
  • INDIA50
  • ITALY40
  • JP225
  • SPAIN35
  • STOXX50
  • SWISS20
  • UK100
  • USTEC
  • US30
  • US500

Leverage is 1:20 for major indices, and 1:10 for non-major indices.

Energy CFDs

  • WTI (light crude)

Leverage is 1:20

Precious Metals

  • XAU/USD (gold)
  • XAG/USD (silver)

Leverage for gold is 1:20 and 1:10 for silver.

Bonds

  • EURBOBL
  • EURBUND
  • EURBUXL
  • EURSCHA

Leverage is 1:5

Depending on the account type, trading on the EUR/USD starts from 0.0pips (Pro and VIP accounts) to 1.6 pips (Classic account), with commissions paid on trades on the VIP account. Trades on FX and CFDs on the Classic and Pro accounts are commission-free.

Account Opening

“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.”

The Tickmill brand was founded in 2015 and offers its traders three types of live accounts:

  1. Classic
  2. Pro
  3. VIP

Classic account holders are offered fixed spreads that start from 1.6 pips (EUR/USD), a $100 minimum account deposit requirement and a minimum trade volume of 0.01 lots. Leverage provision is 1:30 for Tickmill UK and 1:500 for Tickmill Seychelles. Trading is also commission-free, with an option of swap-free Islamic account options.

The Pro account is the most popular of the three account types, according to the broker. Traders who operate the Pro account get access to all the features of the Classic account, but with the added advantage of having spreads that are as low as 0.0 pips. Pro Account holders pay 2 units of currency per Standard Lot traded as commission, and also have the same leverage provisions as Classic account holders.

In addition to the features of the Pro account, VIP account holders require a minimum balance of 50,000 units of the account currency. Commissions paid on trades are lower; only 1 currency unit per Standard Lot is paid. There is also the option of the swap-free Islamic account variation for this account type. Maximum leverage provision also stands at 1:30 and 1:500 for the Tickmill UK and Seychelles locations respectively.

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A demo account is also provided, which requires opening a demo account using the form below on the Tickmill website. Logins using the Master password must be done periodically to avoid expiration of the demo account.

An online registration form such as the one shown above must be filled in order to open a demo account with Tickmill. A similar form can also be used for live account opening. Try to ensure that the names used in opening the account match those shown in your ID document exactly to hasten the process of verification.

The platform on which you can use your demo or live account is the Tickmill MT4. You can download the MT4 by going to this page: https://Tickmill.com/trading-platforms/metatrader-4/

You can then select the version of the MT4 you want to install. This is the link for the desktop version of the Tickmill MT4.

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Once you have downloaded and installed the Tickmill MT4 on your platform, you can proceed to create a new demo account, or log in using your real account details.

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Choose the appropriate server in the drop-down menu from the dialog box that appears on your screen.

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The Tickmill brand is operated in three different jurisdictions. Clients are accepted from all over the world, except for the countries listed below:

  • Iran
  • Iraq
  • Cuba
  • North Korea
  • United States
  • Sudan
  • Myanmar
  • Syria

The restriction applied to these countries stems from issues pertaining to regulatory approvals in the parent countries (United States), or concerns with illicit financing or international sanctions.

Tickmill is compliant with all KYC-AML global regulations. As such, all accounts must be verified and operated by the account holders themselves. No third-party financial transactions are allowed. Account holder verification (Know Your Customer or KYC) is performed by submitting a government-issued ID (national ID card, international passport or drivers’ license), and a proof-of-address document such as a utility bill or bank statement. Certain countries may have additional requirements such as taking a selfie with the ID document to tie the owner the account to the ID document.

Deposit & Withdrawals options

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.”

Tickmill has a very wide array of deposit and withdrawal options for its clients. The deposit and withdrawal methods are listed below.

  • Credit/debit cards: Only cards issued by VISA and MasterCard are allowed on Tickmill. Processing time is 1 business day.
  • Bank wires come with a processing time of 1-2 days and are available globally. Vietnamese and Thai clients of Tickmill Seychelles have access to instant, online bank transfers.
  • E-wallet methods: Skrill, Neteller, PaySafeCard, Fasapay, China UnionPay, Dotpay, Qiwi Wallet, NganLuong and GlobePay are available. Of these options, Skrill, DotPay and Neteller are available globally, while other methods are specific to clients of Tickmill Seychelles Ltd. Processing time is 1 working day for all e-wallet methods.

No fees are charged by Tickmill for deposit and withdrawals (bank wires must be at least $5000 to enjoy this privilege). Minimum withdrawal amount for all methods is 10 units of currency. Currencies usable on Tickmill include Euros, US Dollars, Polish Zloty, British Pounds, Chinese Yuan (for China UnionPay), Rubles (for Qiwi Wallet) and Indian Rupees for FasaPay.

Cases of loss of funds or problems with withdrawal requests by Tickmill have not been recorded. All transactional methods must bear the same details as that of the account owner.

Web & Desktop Trading Platforms

“Trade FX and CFDs using the Tickmill MT4, and access trade resources from the MQL Community website.”

Tickmill’s trading platform of choice is the MT4 platform, and it comes in the desktop, mobile and web-based versions.

The Webtrader is a lighter version of the desktop client. While it retains most of the essential elements of the desktop client, it is not built to support EA use and cannot accept custom indicators. It does not have a good display on mobile devices and so cannot be used on smartphones, tablets or netbooks/mini-laptops with 10” screens. It can also not be used for effective technical analysis as it has fewer analytical objects. The Webtrader can be accessed using this URL.

The desktop client has Windows and Mac versions. There is also the MT4 Mobile for iOS and Android devices.

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Here are some benefits that come with using the Tickmill MT4:

  • Various special tools and add-ons.
  • Traders can use their own EAs and custom indicators.
  • Order for programming services on the MQL Community website directly from the MT4.
  • No partial order fills.

The mobile versions of the Tickmill MT4 are available on the iOS and Google Play stores. These are generic brands of the MT4 and only require Tickmill login details. Tickmill’s MT4 platform is easy to use and this makes it suitable for beginners and indeed, all levels of traders.

Mobile Trading Platforms

Tickmill offers the MT4 mobile app for iOS and Google Play devices. If you want to trade on the go as though you were operating from a desktop Tickmill’s Mobile MT4 for Android and iOS devices is it.

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Here’s what you get with the mobile app:

  1. Full interactive candlestick and bar charts.
  2. Order history, order placement and trade exit.
  3. View charts with 9 time frames
  4. 30 technical indicators.
  5. Easy price viewing and trade ordering process.
  6. Ability to use the demo account.

Trading 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.”

The Tickmill MT4 offers traders some indicators and tools by default, some of which are listed below:

  • Five categories of indicators; 13 momentum indicators, 7 trend indicators, 6 Bill Williams indicators and 4 Volume indicators. Altogether, there are 30 indicators.

  • Specialized chart tools such as the various Fibonacci, Gann lines/fans, Line tools, Shapes and arrows. We also have the Andrew’s Pitchform, Cycle Lines, and Channel tools.
  • Keyboard shortcuts for various chart functions. E.g. F8 for editing of charts, Alt + 3 for using line charts and Alt+ 2 for candlestick charts.

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To add or remove an asset or an entire class of assets from the Market Watch window, you start the process using Click Ctrl+U, or you click View -> Symbols on the Navigation bar. Highlight a symbol class, then click the + or – button to display the assets within an asset class. Click on Show or Hide to add or remove the asset, then click on Close to complete the action.

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To place orders, you can use the Navigation tabs, or right click on the chart -> New Order, or you can click the New Order button on the platform. You may choose to enable (for pros) or disable (for beginners) the One-click trading button.

Here are some other tools on Tickmill:

  1. Autochartist, the automated chart pattern recognition tool that comes as a downloadable MT4 plug-in and is free for holders of funded live accounts.
  2. Tickmill VPS, which provides for low latency trading with an EA even when the trader’s parent computer is off. It comes in three packages (Gold, Silver and Bronze), and costs £69, £39 and £22 a month respectively. There is also a managed VPS service which costs £22 monthly.
  3. Myfxbook for keeping records of trading activity of EAs and also manual trades.
  4. Forex calendar.
  5. Forex calculators (margin calculator, pip calculator and currency converter).

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Leverage is set to a maximum of 1:30 for FX assets on Tickmill Europe and Tickmill UK, but can be as high as 1:500 on Tickmill Seychelles. Emphasis is on maximum: some assets are traded with leverage of 1:5 or 1:10 (see asset index above).

The leverage restriction on Tickmill Europe and UK is due to the recently passed ESMA rules which have capped leverage in Europe and the UK.

Commissions & Spreads

“As an NDD broker, Tickmill offers the VIP and Pro accounts with Zero spreads and commissions and its Classic account with spreads like 1.6 on the EUR/USD.”

The table of spreads shown below has been picked from the Tickmill MT4 market watch. Spreads on Tickmill are fixed. Spreads on EUR/USD are the lowest starting from 0 pips and going to 1.6 pips for the Classic account. Pro (2 per side per 100,000) and VIP accounts (1 per side per 100,000) incur a commission whereas the Classic account does not.

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Tickmill’s Spreads for FX and CFDs

Bonus & 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.”

The only bonus provided on Tickmill is a $30 welcome bonus, and it is exclusively for clients of Tickmill Seychelles. No bonuses or promotions are run on Tickmill Europe or Tickmill UK, because the regulatory agencies in these two jurisdictions have banned them.

Promotions are also run on Tickmill Seychelles. The Trader of the Month award goes to the most outstanding trader, who is provided with a trading credit of $1000. The Tickmill NFP machine is a prediction promo. A trader is given an asset and asked to predict the price, 30 minutes after the NFP is released. An accurate prediction comes with a $500 price, while a prediction close to the price attracts a $200 prize.

Customer Support

“Contact Tickmill in 14 different languages over the phone, Live Chat or email.”

Customer support on Tickmill features 14 languages, providing customer service via:

  1. Live chat (available from Monday 9 am to Friday 10 pm). Times are UTC +2.
  2. Phone: +44 203 608 6100 (Tickmill UK); +852 5808 2921 and +65 3163 0958 (Tickmill Seychelles).
  3. Email: support@Tickmill.co.uk (Tickmill UK) and support@Tickmill.com (Tickmill Seychelles)
  4. Social media: Facebook.com/Tickmill and Twitter.com/Tickmill
  5. Callback Request Tab.

It takes about 5 minutes to get a response from a live chat representative. Responsiveness to social media posts is done within the hour. Email communication is the slowest; next day responses are not uncommon. Callback requests are attended to during the same business day. Support was generally helpful and courteous.

Research

“Updating market news and economic calendar available.”

All traders are provided market news as well as the Economic news calendar. The news tab also provides some action insight from an unknown research source.

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Education

“Tickmill offers webinars video tutorials and education articles.”

Tickmill offers trader education via webinars, video tutorials and articles. These are found on the Educational section on the website. Access the educational suite using the navigation bar on the top-right corner of the website.

At the time of writing this review the section was in development, so when clicked on each section, it took us to a “New Education page coming soon!” page.

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Trading Experience

“Tickmill’s MT4 provides a good trading experience for traders at all levels.”

The Tickmill MT4 platform built for traders at all levels. The visually appealing interface, the simplicity of use, and ready availability of various functions on the interface make it a beginner’s paradise and a perfect introduction to the markets.

FAQ

“Here are the frequently asked questions about Tickmill.”

  • Where is Tickmill based?

Tickmill is based in the United Kingdom and Seychelles.

  • How does Tickmill make money?

Tickmill makes its money from spreads and commissions.

  • How do I deposit in Tickmill account?

You can deposit funds using credit/debit cards (VISA, MasterCard), various e-wallets (Skrill, Neteller, Qiwi Wallet, etc) or via international bank wire. If you live in Thailand or Vietnam, you can get a local bank transfer as well.

  • What is the min. deposit for Tickmill?

Minimum deposit is $100 for Classic and Pro accounts, and $50,000 for the VIP account.

  • What is the max leverage in Tickmill?

Maximum leverage is 1:500 for Tickmill Seychelles, and 1:30 for Tickmill Europe and Tickmill UK.

  • How do I open an account with Tickmill?

Click on the “Create Account” tab in the navigation drop down menu, choose your preferred account location by selecting the regulator (either FCA or FSAS) and fill in the details in the online form.

  • Does Tickmill use MetaTrader?

The MetaTrader4 is the platform used by Tickmill.

Conclusion

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.

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.

TickmillOverview

Company Information

Broker DetailsInfo
Regulated byCySEC, FCA
Headquarters CountryUnited Kingdom
Foundation Year2014
Publicly TradedNo
Number Of Employees200

Deposit Options

Credit Card, Neteller, QIWI, Skrill, Wire Transfer

Withdrawal Options

Credit Card, Neteller, QIWI, Skrill, Wire Transfer

Contact Information

Trading Account Options

Account TypeInfo
Min. Deposit$100
Max. Leverage1:500
Demo AccountYes
Premium AccountYes
Segregated AccountYes
Islamic AccountYes
Managed AccountYes

Tickmill Trading Features

Suitable For

Trader LevelYes/No
BeginnersYes
ProfessionalsYes
Day TradingYes
Weekly TradingYes
Swing TradingYes

Customer Service

TimeYes/No

Customer Support Languages

Arabic, Chinese, English, German, Indonesian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese

Trading Services

ServiceInfo
Supported Trading PlatformsMT4
Educational ServiceYes

Supported Instruments

Instrument TypeYes/No
CurrenciesYes
CommoditiesYes
CFDsYes
IndicesYes
StocksNo
BondsYes
CryptocurrenciesNo

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