broker

Tickmill Review 2022

Updated:
4.4
Trust
4.3
Fees
4.8
Platforms and Tools
4.5
Customer Support
4.3
Tradable Instruments
3.7
Account Types and Terms
4.9
Deposit and Withdrawal
5.0
Research
3.8
Education
4.3

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please Note: For this Tickmill Review, we focused on the services provided by www.tickmill.co.uk, operated by Tickmill UK Ltd regulated by the UK Financial Conduct Authority (FCA), using the Classic Account and the MetaTrader desktop platform and mobile app. Some of the features and services will vary depending on which jurisdiction you open an account in.

The Big Picture

Tickmill provides a great range of services and products that are designed for serious traders. Regulated in several regions by the FCA, CySEC and FSCA, the products and platforms are geared towards advanced traders with access to futures and options trading but beginner traders are also looked after with decent support and educational tools.

From our live testing, we found the trading fees of Tickmill are above the industry average. Opening an account was super fast and there is a good range of account types suitable for beginners and advanced traders.

While the trading platforms offered are geared towards advanced and professional traders, the mobile trading app is simple to use with a ton of video tutorials available.

Tickmill Key Takeaways for 2021

  • We evaluated Tickmill according to nine categories. The broker scored highly in several categories including Fees, Account Types, Deposits & Withdrawals, Customer Support and Education but only scored maximum points in Deposit & withdrawal.
  • The lowest score was in the Research and Platforms section. While there are some good research and education tools, the offering came in lower than the industry average. The trading platforms are also mainly geared towards advanced traders but are great once you get the hang of them.
  • Beginner traders will enjoy the commission-free trading accounts available, as well as access to all the major markets, the simple to use mobile trading app and its educational videos.
  • Advanced traders will enjoy the commission-based, raw spread trading accounts, as well as access to professional trading platforms such as MetaTrader 4, MetaTrader 5, TradingView and CQG.
  • One unique feature about Tickmill’s offering is the fact they provide access to 6 of the world’s futures exchanges (CME, CBOT, NYMEX, COMEX, EUREX, Small Exchange) to trade futures and options – access only very few CFD brokers are currently offering.

Who is Tickmill For?

While Tickmill provides services and products suitable for beginner and advanced traders, our research and testing show it is mainly geared towards advanced traders. The different account types available are a mix of commission-free and commission-based.

Most of the major markets across Forex, indices and bonds are available to trade on. While there are no stocks or commodities outside of energy and oil markets to trade on, Tickmill does provide access to futures and options markets which are mainly traded by professionals.

The trading platforms available (MetaTrader 4, MetaTrader 5, TradingView, CQG) are also mainly geared towards advanced traders but are great to use once you get the hang of them.

Tickmill Pros and Cons

Pros Cons
  • Simple account opening process
  • Trading fees above the industry average
  • Fully licenced and regulated broker
  • No stocks
  • No 24 hours customer support
  • Learning curve to use trading platforms

 

broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

About the Author

Dan Blystone
Dan Blystone began his career in the trading industry in 1998. He worked as an arb clerk on the floor of the Chicago Mercantile Exchange (CME), flashing orders into the currency futures pits.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
Tickmill Main Features
☑️
Regulations
FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa), FSA(SC) (Seychelles), Labuan FSA (Libya)
🗺
Supported Languages
English, Spanish, German, Arabic, Russian, Portuguese, Japanese, Chinese, Italian, Indonesian, Vietnamese, Malaysian, Polish, Thai, Korean
💰
Products (CFD)
Currencies, Commodities, Indices, Bonds, Futures
💵
Min Deposit
$100
💹
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSA(SC)), 1:1000 (Labuan FSA)
🖥
Trading Desk Type
No dealing desk
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Tickmill Full Review

Trust

4.3
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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Tickmill scored highly in this category as each of its entities around the world are licenced and regulated by a financial regulator. As some entities are licenced by top tier regulators and some by lower-tier regulators, Tickmill didn’t score maximum points here.

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

The location of a broker will dictate the level of regulatory oversight and protections offered to investors. Due to regulatory changes from tier 1 regulators such as the FCA, CySEC and ASIC, many brokers have moved offshore so it’s worthwhile doing your due diligence.

We look for several things when analysing the safety and trust of a broker. This includes:

  1. Segregation of client funds from company funds. Having client funds segregated from company funds is always important as you don’t want your broker to use your funds to run their business!
  2. A negative balance protection policy. This means that your account cannot go into a negative balance from adverse movements in the market.
  3. Compensation scheme. Does the entity or regulator provide access to compensation in the event a broker goes bust?
  4. Are additional safeguards put in place by the broker even when they are not required to do so? This is a great measure of just how seriously your broker takes your safety!

Some financial regulators make it a regulatory requirement to offer some of these features, while others do not.

We found that Tickmill is very transparent about what protections you have and do not have. Tickmill’s Terms of Business offer a high level of transparency regardless of which jurisdiction you open an account in.

Tickmill also offers stability as they have been in business since 2014 and have managed to successfully navigate major changes in the industry from financial regulators.

Tickmill Regulations

Tickmill operates four different entities around the world (two tier 1 regulator, two tier 2 regulators and one tier 3 regulator)::

  • Tickmill UK Ltd – authorised and regulated by the UK Financial Conduct Authority (FCA), a tier 1 regulator.
  • Tickmill Europe Ltd – authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), a tier 1 regulator.
  • Tickmill Ltd – authorised and regulated by the Financial Services Authority (FSA) of Seychelles, a tier 3 regulator.
  • Tickmill Asia Ltd – authorised and regulated by the Labuan Financial Services Authority (FSA), a tier 2 regulator.
  • Tickmill South Africa PTY Ltd – authorised and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, a tier 2 regulator.
Region Tickmill UK Tickmill Europe Tickmill Ltd Tickmill Asia Tickmill South Africa
Regulation FCA CySEC FSA Seychelles Labuan FSA FSCA
Segregated Funds Yes Yes No No No
Negative Balance Protection Yes Yes No No No
Compensation Scheme FSCS Up to £85,000 ICF Up to €20,000 No No No

*Regulations for retail traders up to date as of 14 November 2021 from the broker’s Legal Documents for each entity.

The Tickmill UK entity regulated by the FCA offers the highest level of safety and protection. In most cases, you may be able to open an account with the FCA entity no matter where you are in the world. However, from the UK we couldn’t open an account with Tickmill Ltd regulated by the FSA of Seychelles and were redirected to opening an account with Tickmill UK instead.

Another important note is that it is a regulatory requirement for FCA and CySEC regulated entities to offer a negative balance protection policy and segregated accounts for retail traders. The negative balance protection policy is not applicable to traders classified as professionals.

Many other brokers will offer the same regulatory protections required by the FCA and CySEC on its global entities – something which Tickmill does not do so it is worthwhile checking the Legal Documents of the entity you open an account with.

Tickmill UK Ltd – Protections and Safeguards

The Tickmill UK Ltd entity operates www.tickmill.co.uk and is authorised and regulated by the FCA which is considered a tier 1 financial regulator.

With this entity, it is a regulatory requirement for the broker to segregate client funds from their own, offer a negative balance protection policy and be part of the Financial Services Compensation Scheme to protect clients in the event of default.

The authorisation and licencing of Tickmill UK Ltd can be confirmed on the FCA register.

Tickmill FCA Authorisation. 14 November 2021.

Fees

4.8
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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Tickmill’s trading fees for trading stock indices and commodities are competitive and better than the industry average. The fees for Forex trading are less competitive and were around the industry average for the commission-free account but are very competitive on the commission-based accounts.

There are a variety of different fees to look at when choosing a broker.

  • Trading fees are those associated with buying and selling a financial instrument and include:
    • Commission – The cost to enter and exit a trade.
    • Spread – The cost between the buy price and sell price.
    • Overnight swap fee – The cost of holding a leveraged position overnight.
    • Conversion fees – The cost to convert your base currency into the currency of the asset you are trading, if it is different.
  • Non-trading fees are charges that are not related to buying and selling a financial instrument and include:
    • Deposit and withdrawal fees (discussed further down this review).
    • Inactivity fees – The cost to have a trading account opened with zero activity on it.

Tickmill Trading Fees

In our live trading test for fees, we used the commission-free Classic Account from the FCA regulated entity Tickmill UK Ltd. This account only has spread and swap trading fees.

We viewed the live spread for Forex, indices and commodities at two different times of the day – around 8 am and 2 pm London time on 10 November 2021 as these times generally cover the most active sessions of the day.

What did we find? Tickmill’s spreads for indices and commodities are competitive with Forex spreads around the industry average if not a bit higher than most.

Instrument London AM Spread London PM Spread
EURUSD 1.6 1.6
GBPJPY 2.3 2.2
Gold 0.3 0.3
WTI Oil 0.02 0.04
DAX 40 0.6 0.5
Dow 30 2.8 2.8

The overnight swap fees were also in line with the industry average. This fee is important for long-term traders, as overnight fees can add up if you are holding trades for a long period of time.

Are Tickmill Trading Fees Good?

Tickmill’s trading fees are competitive for metals and energy commodity CFDs. Most brokers would advertise the DAX 40 index at a spread of 1 point. In our testing, the average was 0.55, so you’re gaining more profit on every trade.

As EURUSD is the world’s most actively traded currency, most brokers go out of their way to advertise a really tight spread for this currency pair, usually less than 1 pip. Tickmil’s EURUSD spread of 1.6 pip is higher than most other brokers.

It’s worthwhile remembering that the fees are for the commission-free Classic Account. If you are trading on the commission-based Pro or VIP account, spreads on EURUSD would start at 0 pips.

The commission for these two accounts is very competitive and higher than the industry average. For example, the Pro Account has spreads from 0 pips and a commission of only $2 per side, per 100,000 units of currency trades which is very competitive and above the industry average of $3.50 per side, per 100,000 units.

Tickmill Non-Trading Fees

Some brokers impose an inactivity fee on trading accounts if there is no activity on your account, such as the buying and selling of an instrument, deposits and withdrawals, for a certain period of time.

With Tickmill, there are zero inactivity fees. However, if your account has been inactive for more than a year it may be closed if there is less than £10 (or equivalent) in it.

Platforms and Tools

4.5
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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Tickmill provides users with the ability to trade on a variety of professional trading platforms – MetaTrader 4, MetaTrader 5, TradingView and CQG. Each one of these platforms does require a learning curve but the mobile app provided is the simplest and fastest way to place a trade.

Which Platforms Are Suitable for Beginner and Advanced Traders?

The range of platforms available is above the industry average offered but do require some learning. For beginner traders, the easiest way to trade is through the MetaTrader mobile app or web platform.

The MetaTrader suite of trading platforms is considered to be the most popular trading platform in the world. Many brokers offer these platforms to their clients. With Tickmill, you can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on desktop, web or mobile.

The TradingView and CQG platforms are only offered to futures and options traders. TradingView is a web-based platform that is simple to use, while the CQG is a desktop platform mainly used by institutional and professional traders.

You will need to pay for live market data on the TradingView and CQG platforms, unlike the MetaTrader platforms which offer free real-time price quotes.

Tickmill Desktop/Web Platform

The Tickmill MetaTrader 4 and MetaTrader 5 desktop and web platforms are designed for professional traders. Of the two, beginners will find the web platform the easiest to use but there will still be a learning curve.

For our live testing, we used the MetaTrader 5 desktop platform for Windows. This platform provides a high level of customisation with a lot of inbuilt technical indicators.

While there is a learning curve to navigating the platform, it is well worth it as it is feature-rich compared to many other platforms offered by brokers.

Charts

The MetaTrader 5 desktop platform allows you to view multiple charts just from one screen so you can keep track of multiple markets. The products available to trade are shown in the Market Watch column on the left.

You can customise this list and build watchlists, as well as create more columns to show more information such as the spread.

Once you get the hang of the platform, it does become very easy to navigate and access the 21 different timeframes and 38 technical indicators available.

Below is a screenshot of the Tickmill MetaTrader 5 desktop platform for Windows:

Tickmill MetaTrader 5 Desktop Platform

Orders

You can access a variety of order types from the MetaTrader 5 platform. Market orders will open a trade at whatever the current market price is. Pending orders allow you to set an order at a specific price level. When the market price gets to your order level it will open your trade.

You can also set alerts in the desktop platform but not the web platform.

General Ease of Use

While the MetaTrader 5 desktop and web platform take some getting used to, it is packed with a variety of features that is well worth the time as detailed in the next section. The navigation of the platform does take some getting used to as you can customise the layout to your own needs.

Tickmill provides some educational videos on how to navigate the platform. As MetaTrader is one of the most popular platforms in the industry there are also a lot of support tools in the online community.

Once you know where things are and how to access different charts and timeframes, it becomes quite clear that everything is laid out intuitively but there’s a small learning curve to get the point of seeing it.

Other Features

The MetaTrader desktop platforms also allow you to access the MetaTrader Marketplace. Here you can access customised indicators, access copy trading services and download algorithmic trading strategies.

Tickmill Mobile App

The MetaTrader 5 mobile app provided by Tickmill is probably the easiest and fastest way to trade from across all the platforms provided.

Not only can you view live price quotes on all of the markets offered by Tickmill, but you can also view different timeframes and perform technical analysis.

Alternatively, you can use the mobile app to check positions from trades taken on the desktop or web platform, or open and manage new trades directly from the app.

Devices

You can download the MT5 mobile app for both Android and iOS devices directly from the app store. In our test, we downloaded the MT5 5 mobile app.

Charts

The MT5 mobile app allows you to view one chart or two charts simultaneously. The chart is simple to view and you can access 9 timeframes and 30 technical indicators.

In the MT4 mobile app, there are several icons at the bottom where you can access real-time quotes, charts, position history or settings. Viewing the chart is simple and can be done by clicking on the market of your choice.

The charts are clean and you can access 9 timeframes, along with 30 different technical indicators and 24 drawing tools for technical analysis.

Below are some screenshots of the Tickmill MetaTrader 5 mobile app for iOS devices:

Tickmill MetaTrader 5 Mobile App for iOS

You cannot access algorithmic trading capabilities, customised indicators or layouts from the mobile app, like you can in the desktop version. This is in line with the industry as there are no broker apps that provide such advanced levels of functionality on mobile.

Orders

The mobile app allows you to place pending trades or enter live at the market. Unfortunately, you cannot add expiries or set alerts.

General Ease of Use

The mobile app is simple to use with a clear interface to navigate between the different sections. At the bottom of the app, the categories include Quotes, Chart, Trade, History and Setting.

The quotes tab allows you to see live price quotes of the different instruments provided by Tickmill. You can create a watchlist and view details of each instrument such as the opening and closing times of the market.

From the quote window, you can easily navigate to viewing a chart of an instrument or go straight to a trading ticket to buy or sell. The MT4 mobile app charts allow you to view different timeframes and perform technical analysis while on the move!

The trading ticket is also simply laid out. You can simply buy or sell a market at the current price or place an order at a future price. There will also be a confirmation message to confirm whether you want to place a trade or not which is great for safety in case you want to change something.

While there is a learning curve to using the mobile app, most people will be able to navigate the most basic functions of placing a trade and viewing your currency trades.

Tradable Instruments

3.7
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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While you can trade most major markets with Tickmill, there are only around 135 instruments to choose from across Forex, Indices, Metals, Energies, Bonds and Cryptocurrencies. But you can also access 62 futures and options markets which are unique compared to other brokers.

The range of instruments available to trade on is below the industry average. The Forex pairs include majors, minors and exotic currencies while commodity CFDs only include metals and energies.

However, you can access other soft commodities through the futures and options trading offering which are products geared towards more advanced traders.

Tickmill does not provide any stocks to trade on.

What are CFDs?

A CFD, or Contracts for Difference, is a derivative product that allows you to speculate on the price direction of a financial instrument allowing you to profit from rising and falling markets. You can also trade on margin which means you can control a large position with a smaller deposit, amplifying both gains and losses.

What Can You Trade with Tickmill?

With the Tickmill you can trade on:

  • 62 futures and options
    • CME, COMEX, CBOT, NYMEX, EUREX, Small Exchange
  • 62 Forex pairs
    • Major, minor and exotic CFDs
  • 13 indices
    • Global stock index CFDs
  • 4 commodities
    • Metal and energy CFDs
  • 3 cryptocurrencies*
    • CFDs against the US dollar
  • 4 bonds
    • European CFDs only

*When trading with the FCA regulated entity, cryptocurrencies are only available to traders classified as a professional.

While the number of tradable instruments may be below the industry average, all the major markets are covered with the exception of stocks.

Below is a list of just some of the available markets for trading:

Forex Indices
EURUSD | GBPJPY | AUDCHF | CADJPY | NZDUSD | USDMXN | USDZAR AUS200 | FRANCE40 | UK 100 | US30 | US500 | JP225 | ITALY40
Commodities Futures & Options
XAUUSD | XAGUSD | XTIUSD | BRENT ES | YM | 6E | NQ | J1 | SIL | ZN | ZF | MES
Cryptos Bonds
BTCUSD | ETHUSD | LTCUSD EURBOBL | EURBUND | EURBUXL | EURSCHA

*Details regarding the available assets are taken from the Tickmill trading platform and website and are correct at the time of this review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Customer Support

4.3
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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Tickmill scored highly in this category with great customer support. They didn’t score maximum points because the support is only available during office hours and not 24 hours.

You can access customer support via live chat, phone and email in a variety of languages which includes English, Arabic, Chinese, German, Indonesian, Italian, Korean, Polish, Portuguese, Spanish, Thai, Turkish, Vietnamese, Malay, Russian and Filipino.

Customer support is available during office hours Monday to Friday 7:00 – 20:00 UK time.

Why is customer support important? If you need help with your platform, or question a trade execution or have any administration issues you want to know that you can contact your broker as fast as possible when you want!

Tickmill Customer Support Test

In our customer support live test, we contacted the broker via telephone and live chat. We were connected by live agents very quickly. The agents were knowledgeable and helpful when responding to technical questions regarding their platform and fees.

Tickmill Live Chat Support Test Transcript

The live chat feature was the fastest as we were connected to an agent in less than 10 seconds who then answered our question in around a minute.

Deposit and Withdrawal

5.0
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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Tickmill scored the maximum points in this category as they provide a wide variety of deposit and payment options, including lots of e-wallets, that are fee-free with the exception of deposits via bank transfers under $5,000. The payment options available will differ based on which entity you open an account with and where you are based.

Deposit methods include bank transfer, Visa, Mastercard, Skrill, Neteller, DotPay, PaySafeCard, Sofort, Rapid Transfer and PayPal.

You can deposit funds in four currencies: USD, EUR, GBP and PLN, depending on the payment method.

Tickmill Deposit Methods

With Tickmill you can deposit funds fee-free using a variety of methods. The full range of methods are highlighted in the client portal area.

Deposit Method Commission Processing Time
Bank Wire deposits above $5,000 Zero 2-7 working days
Visa Zero Instant
Mastercard Zero Instant
Skrill Zero Instant
Neteller Zero Instant
DotPay Zero Instant
PaySafeCard Zero Instant
Sofort Zero Instant
Rapid Transfer Zero Instant
PayPal Zero Instant

* For all available deposit options refer to the broker’s Account Funding page.

Tickmill Withdrawal Methods

You can also withdraw your funds fee-free and thay are generally processed back to the payment method used for depositing.

If you deposit funds via credit/debit card then you will receive the same amount of total withdrawals that equals your total deposit back to your card. The remaining withdrawal amounts will be processed by another payment method of your choice.

Withdrawal Method Commission Processing Time
Bank Wire Zero 2-7 working days
Visa Zero Up to 8 working days
Mastercard Zero Up to 8 working days
Skrill Zero Within 1 working day
Neteller Zero Within 1 working day
DotPay Zero Within 1 working day
Sofort Zero Within 1 working day
Rapid Transfer Zero During 1 working day
PayPal Zero Within 1 working day

* For all available withdrawal options refer to the broker’s Account Funding page.

Account Types and Terms

4.9
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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There are 4 main account types offered by Tickmill called the Pro, Classic and VIP Account, as well as a Futures Account. Opening an account is fast, simple and digitally-based with a low minimum deposit of 100 EUR/USD/GBP/PLN on two of the accounts.

The range of account types offered by Tickmill is higher than the industry average. For example, only very few retail CFD brokers offer access to a Futures and Options account which are products mainly geared towards professionals.

The Classic Account is a commission-free trading account whereas the Pro and VIP Account is commission-based but provides access to lower spreads. The Pro and Classic Account have low minimum deposits of 100 USD/EUR/GBP/PLN and the VIP Account has a minimum deposit of 50,000 USD/EUR/GBP/PLN.

We managed to open an account in just a few minutes. However, you cannot do anything or access any features from the client portal area until you are fully verified which takes less than 24 hours.

Why is Choosing the Right Account Type Important?

Choosing the right account type is important as it will impact nearly every aspect of your trading. Different accounts will often have different fees, instruments, minimum deposits, platforms, etc. So choosing the right one for your own needs is important.

What Account Types does Tickmill Offer?

Tickmill UK Ltd offers the following trading accounts with some of the features highlighted below:

Pro Account Classic Account VIP Account
Commission 2 per side, per 100k Zero 1 per side, per 100k
Spread (from) 0 pips 1.6 pips 0 pips
Minimum Deposit 100 100 50,000 (min.balance)
Base Currency USD/EUR/GBP/PLN USD/EUR/GBP/PLN USD/EUR/GBP/PLN
Leverage (up to) 1:30 1:30 1:30
Islamic Account Yes Yes Yes
Demo Account Yes Yes Yes

Source: Tickmill UK Ltd Trading Accounts

The main differences between the accounts are the fees and minimum deposit. The Classic Account is commission-free. The Pro Account is commission-based with low spreads as is the VIP Account. However, the VIP account offers even cheaper trading fees but you need to maintain a minimum balance of 50,000 units of your base currency.

Other entities such as Tickmill Ltd Seychelles and Tickmill South Africa PTY Ltd,l offer the same accounts with slightly different features. For example, you can access higher leverage of up to 1:500 and access the same commission-free or commission-based accounts.

Tickmill UK Ltd also offers a futures and options account with some of the features highlighted below:

Futures & Options Account
Exchanges CME, NYMEX, COMEX, CBOT, EUREX, Small Exchange
Commission Micro Contracts $0.85
Commission Standard Contracts $1.30
Minimum Trade 1 contract
Minimum Deposit $1,000

Source: Tickmill UK Ltd Futures & Options

The futures and options fees are slightly higher than the industry average. However, their accessibility and platforms provided to trade them are better than other providers.

What is CFD Leverage?

CFD, or Contracts for Difference, trading allows you to open a large position with a smaller deposit. For example, a 30:1 trading leverage means you can have $30,000 exposure with only a $1,000 investment. A 500:1 trading leverage means you can have a $500,000 exposure with only a $1,000 investment.

Leverage is a double-edged sword as it can amplify your winning and losing trades. This is one reason regulators such as CySEC, ASIC and the FCA cut the leverage brokers can offer retail traders – to make it safer for beginners.

How to Open an Account with Tickmill

In our testing, we opened a Classic Account with Tickmill UK Ltd.

It was a simple process and was completed in less than 3 minutes. While everything is done digitally, you cannot do anything in the client portal area until you are fully verified.

For verification, you need to submit proof of identity and proof of address documentation. This can include a driver’s licence or passport and a utility or bank statement.

Here is the step by step process we used to open an account with Tickmill UK Ltd, regulated by the FCA.

  • Step 1: Fill in personal information regarding such as name, address, date of birth and email.
  • Step 2: Validate your email address by clicking on the validation link sent by email.
  • Step 3: Fill in the application form which asks you for personal information such as employment and income details, tax information and trading experience.
  • Step 4: Pass the suitability test. FCA regulated brokers are required to ask you several questions to deem your suitability for opening an account.
  • Step 5: Submit ID and verification documents and wait to be fully verified which in our test was done in under 24 hours.
  • Step 6: Once verified you can deposit funds, download the platform and start trading.

From the Tickmill client portal area, you can upload your documents, access your trading accounts and platform downloads.

Tickmill Client Portal Area

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Research

3.8
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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Tickmill provides a weekly market outlook webinar and access to third-party tools such as AutoChartist which provides trading ideas and technical research.

Tickmill scored average points in this category as their offering is below the industry average as there are no news or market research articles.

However, Tickmill’s analyst does provide live, weekly market outlook webinars which can also be recapped on their YouTube channel.

These webinars are mainly geared towards advanced traders as the analyst uses a mixture of fundamental and advanced cycle analysis.

The YouTube channel also has videos on potential chart patterns developing in well-known markets and content is posted regularly which is good to see.

Tickmill YouTube Channel

From the client portal area, you can also access more research from third-party tools such as AutoChartist. This tool is provided to clients by some brokers as it provides technical research and trading ideas.

Beginner traders may find this to be of value but it can also be overwhelming if you are not familiar with technical analysis. You can search for a range of technical analysis chart patterns developing across a variety of timeframes and markets using this tool.

Tickmill AutoChartist Web

Education

4.3
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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Tickmill provides a wide range of video tutorials covering topics suitable for beginner and advanced traders. Each video is only around 30 seconds long and only briefly covers a topic. However, the Futures & Options tutorials are longer and formatted as a course and provide great value.

Tickmill does provide a good range of video tutorials and eBooks covering different trading topics.

The educational videos are animated videos that last around 30 seconds from the ones we tested. The video topics include Forex Trading, Market Analysis, Trading Psychology, Trading Strategies, MT4, Social Trading and many others.

Tickmill Education Hub

The broker also provides access to the Education Hub which is a course of videos for futures and options trading. These videos last longer but are still in an animated format.

The course in this section includes Introduction to Futures which covers topics such as What is Volume? Open Interest, Price Discovery and more.

Tickmill Video Tutorials

These videos are designed for beginners who want to learn the basics of futures and options trading. Advanced traders of these products may find the knowledge too basic.

The Bottom Line

If you are looking to elevate your trading then Tickmill could be for you. While the broker’s offerings are geared to beginner and advanced traders, our research shows the latter will benefit the most.

The trading platforms provided by the broker are mainly geared toward professional traders. These are easy to navigate once you get the hang of them but there is a learning curve.

Beginner and advanced traders will enjoy access to third-party tools such as AutoChartist which provides real-time trading ideas. However, you will need to be versed in technical analysis chart patterns to really understand it.

Advanced traders will enjoy the range of account types available and the competitive fees on its commission-based, raw spread account – as well as access to professional markets such as futures and options.

Beginner traders will find the mobile trading app the easiest way to get started and will also enjoy the commission-free trading account and video tutorials.

FAQ

Where is Tickmill based?
Tickmill is based at 3rd Floor, 27 – 32 Old Jewry, London, England, EC2R 8DQ.

Is Tickmill safe?
Yes as they are regulated by the UK FCA, CySEC, FSCA, FSA Seychelles and the Labuan FSA.

How does Tickmill make money?
Tickmill makes money through its trading fees such as spreads, commissions and swaps on certain trading accounts and platforms.

Is Tickmill good for beginners?
Beginner traders will find a lot of resources and help to support them.

How do I deposit in a Tickmill account?
You can deposit funds via debit or credit card, bank wire transfer, Neteller, Skrill, DotPay, PaySafeCard, Sofort, Rapid and PayPal.

What is the min. deposit for Tickmill?
The minimum deposit for Tickmill is 100 USD/ GBP/ EUR.

How do I withdraw money from Tickmill?
You can withdraw funds via debit or credit card, bank wire transfer, Neteller, Skrill, DotPay, Sofort, Rapid and PayPal.

How long does it take to withdraw money from Tickmill?
E-wallets within 1 day. Bank transfer and debit/credit card can take up to 8 days.

What is the max leverage in Tickmill?
For Tickmill UK Ltd the maximum leverage for retail clients is 30:1.

How do I open an account with Tickmill?
You can open an account with Tickmill by clicking on the Create Account tab on the broker’s homepage.

What platforms does Tickmill offer?
MetaTrader 4, MetaTrader 5, TradingView and CQG.

broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See Tickmill Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
United Kingdom
Foundation Year
2014
Regulations
FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa), FSA(SC) (Seychelles), Labuan FSA (Libya)
Publicly Traded
No
Number Of Employees
100-200
Trading Desk Type
No dealing desk
Trading platforms
MT4
Restricted Countries
United States, Cuba, North Korea, Iraq, Sudan
Supported Languages
English, Spanish, German, Arabic, Russian, Portuguese, Japanese, Chinese, Italian, Indonesian, Vietnamese, Malaysian, Polish, Thai, Korean
Min Deposit
$100
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSA(SC)), 1:1000 (Labuan FSA)
Deposit Options
Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Western Union
Withdrawal Options
Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Webmoney, Moneybookers, Cash-U, QIWI
Products (CFD)
Currencies, Commodities, Indices, Bonds, Futures
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
Yes
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