Tickmill Review

Tickmill
$30 free welcome bonus for non EU/EAA countries
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Overview

Tickmill Review 2020, User Ratings, Bonus & Demo In this Tickmill review, updated for 2020, we are going to take a look at all the pros and cons of trading… more

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Details

Broker Tickmill
Website URL www.tickmill.co.uk
Founded 2015
Headquarters 1 Fore Street, London EC2Y 9DT
Support Number Client Support: +44 203 608 6100 Office: +44 (0)20 3608 2100
Support Types Phone, live chat, call back request, email: [email protected]
Languages English, Russian, Italian, Vietnamese, German, Spanish, Japanese, Portuguese, Indonesian, Arabic, Thai, Korean, Chinese, Polish, Malay
Trading Platform MetaTrader 4
Minimum 1st Deposit 100 EUR, USD, GBP or PLN
Minimum Account Size 1
Minimum Trade Amount 0.01 lots
Maximum Trade Amount 50 lots
Bonus $30 free welcome bonus for non EU/EAA countries
Payout Within 2 working days
Leverage up to 1:30 for retail clients, up to 1:500 for professional clients. Tickmill Seychelles offers up to 1:500 for every trader
Spread Low, fixed spreads from 0.0 pips
Free Demo Account Open Demo
Regulated Yes
Regulation 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).
Commissions Yes
Commission Info 2 units per 100k on Pro, 1 unit per 100k on VIP
Account Types Demo, Classic, Pro, VIP
Deposit Methods 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
Withdrawal Methods 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
Number of Assets 80+
Types of Assets Currencies, Commodities, Indices, Bonds
Trading Currency 62+ currency pairs including major, minor, exotic and crypto
Account Currency EUR, USD, GBP, PLN
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 8.7

Full Review

Tickmill Review 2020, User Ratings, Bonus & Demo

In this Tickmill review, updated for 2020, we are going to take a look at all the pros and cons of trading at this broker.  In a nutshell Tickmill is quite popular in the UK amongst forex and CFD traders and lately with cryptocurrency traders as well.

Although Tickmill has quite some deposit options available, they are still all based in fiat currency and cryptocurrency-based deposits are not (yet) supported.

Tickmill’s business model is that of an NDD broker, which stands for Non-Dealing Desk broker. This means that Tickmill doesn’t take the other side of your trades, it rather passes them on to third party liquidity providers. This is good because it means Tickmill will never have conflict of interest with their clients and traders. Mainly for this reason, but also because of Tickmill’s superb trading platform, low floating spreads and commissions and it’s friendly customer support, they made it our Top UK brokers list.

Tickmill Company Information

Tickmill is a brand operating from the Seychelles and the United Kingdom. In the Uk, Tickmill (UK) Limited is licensed and regulated by the Financial Conduct Authority under license number 717270. The FCA requires all brokers to state their regulatory information on their website.

Tickmill does that both on their website and within their mobile trading apps. From the screenshot below you can see that Tickmill is really licensed and regulated by CySEC and FCA, but if you want to double check this you can verify it on the CFA website here and the CySEC website here.

tickmill-company-information-cysec

Proof of Tickmill CySEC License and Regulation

tickmill-licensed-fca

Proof that Tickmill is FCA registered and licensed

Tickmill Licenses and Regulatory Information

Okay, so normally this would be a small part, listing of one or two regulatory bodies, however, Tickmill is a serious broker brand and is licensed and regulated by a whopping 6 regulatory bodies. We can already conclude from this that Tickmill definitely isn’t a scam broker and plays by the rules.
– Authorized and regulated by the Cyprus Securities and Exchange Commission (CIF License 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).

Apart from being regulated and licensed by 6 different regulatory bodies, Tickmill makes sure all clients and traders are protected to maximum extent. This means the entire Tickmill website, it’s trading platforms and it’s apps are all protected from cyber-thieves and hackers by using SSL or Secured Socket Layer protocols (which you can check by clicking the green padlock in their address URL bar).

Also, Tickmill segregates client’s funds from it’s own corporate funds with top tier-1 banks. Tickmill is also part of CySEC’s Investor Compensation Fund, as well as FCA’s Financial Services Compensation Scheme (FSCS).

This means that in the rare case of Tickmill going bankrupt, trader’s funds are covered and insured up to a maximum of 20k GBP in the case of retail investors and 500k GBP in the case of professional and institutional traders. Tickmill also offers negative balance protection. This means traders can never go in minus at this broker, which is an excellent form of protection for those who can’t afford to go in debt and in general.

Tickmill Account Types

The brand Tickmill is founded in 2015 and is the successor of the famous ViPro Markets. Ever since Tickmill’s existence, they offer three types of live accounts, apart from their demo account:

Classic
Pro
VIP

Classic account holders are charged low, floating spreads from 1.6 pips (on EUR/USD). The minimum deposit is 100 USD, EUR, GBP or PLN and the minimum trade volume on these accounts is 0.01 lots. The maximum leverage offered on Tickmill UK is 1:30 and 1:500 for Tickmill Seychelles. People that qualify as ‘Professional Trader’ can negotiate up to 1:500 leverage on Tickmill UK as well.

Traders using the Pro account get all the best and features of the Classic account, but spreads charged from just 0.0 pips. We have to say though, that Pro accounts are expected to perform a bit bigger trades as they pay 2 units of currency per Standard Lot traded as commission. Once more, this means if you do small transactions as a trader, you’re better off with a Classic account.

Last but not least, there is the VIP account. Basically the VIP account is the same as the Pro account but with reduced fees. VIP account holders pay only 1 currency unit per Standard Lot but need to have a minimum balance of at least 50,000 USD, EUR, GBP or PLN at all times.

open-account-tickmill
Like we outlined before, a demo account is available at Tickmill. You can open a demo account by using the form on Tickmill’s website. Please note though, that you have to login like once a week using the Master password to avoid expiration of the demo account.

Just fill in the form to open the demo account but make sure your name matches the name as written on your ID document to make sure you won’t get any problems opening a live account later or when withdrawing any profits from Tickmill. The Tickmill demo account is always in MetaTrader 4. You can download MT4 by this link, just select the right version for your device.

tickmill-demo-account
Once you’re done downloading and installing the Tickmill MT4 on your device, you can proceed to trade on the demo account or create an additional one. Always be sure to use a strong and different password for your MT4 account (from your Tickmill account) as we had complaints in the past of traders’ MT4 accounts being hacked at other brokers. Luckily, Tickmill is completely secure. They use SSL protocols and technology and don’t save your login credentials on their servers.

opening-account-at-tickmill

Tickmill Accepted and Banned Countries

Of course you want to know if you are able to create an account at Tickmill, else what would be the point of reading this review, right? Well, Tickmill accepts customers from all over the world, except from the following countries:

– Iran
– Iraq
– Cuba
– North Korea
– Sudan
– Myanmar
– Syria

and unfortunately, no United States customers are taken. If you’re a US citizen looking for a broker, take a look at our top US brokers page or read our Forex.com review, as it’s our #1 suggested broker for US residents at the time of writing this review.

Also note that Tickmill is compliant with all KYC-AML global regulations, which means that all accounts must be verified and operated by the account holders themselves. You cannot allow third-parties, friends or families to trade on your behalf at Tickmill.

The KYC or Know Your Customer procedure is quite straight-forward; just upload a government-issued ID, like a national ID card, passport or drivers’ license and a proof of residence document, such as a utility bill or recent bank statement (not older than 3 months).

Tickmill Deposit and Withdrawal Methods

Tickmill has a wide array of deposit and withdrawal options available to its traders:

– 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.

tickmill-review-deposit-withdraw-options

Tickmill Web & Desktop Trading Platforms

Tickmill solely offers the MT4 trading platform to it’s traders and this trading platform comes in multiple forms, being desktop, mobile and web-based. The WebTrader is, like with most other brokers, a lighter version of the desktop client. This means it’s almost the same, but it has a few less features. For instance, Expert Advisors and custom indicators are virtually non-existent in the WebTrader.

Also, it’s display isn’t 100% on smartphones and tablets. It can also be very minimally used for technical analysis. Therefor, we suggest you to download either the Tickmill app or the desktop version. Nevertheless, if you don’t want to install any software for some reason, the Tickmill WebTrader is available trough this link.

tickmill-meta-trader-4

Some of the special benefits using the Tickmill MetaTrader 4 are as following:

– Wide array of tools and add-ons
– Traders can use their own EA’s and custom indicators
– Programming and scripting services available trough the MQL community website, accessible trough the MT4.
– No partial order fills (fill or kill).

Tickmill Mobile Trading Platforms

The MetaTrader 4 mobile versions are of course available on both iOS and ANdroid devices and downloadable from their respective app stores. Note that these MetaTrader 4 versions are provided my MetaQuotes themselves and you just need your Tickmill login details to login.

The Tickmill Mobile Apps contain:

– Interactive and customizable candlestick and bar charts.
– Full order history including order placement timestamps and trade entry and exit points.
– Charts in 9 different time frames.
– 30 available technical indicators.
– Easy to navigate price viewing and trade order placement.
– Ability to use the demo account.

tickmill-mobile-apps

For more information about MetaTrader 4 features, the following article can be an interesting read:

MetaTrader 4 versus MetaTrader 5: What’s the Difference?

Tickmill Review – Special Features

Tickmill has a few special features as broker using MT4. These are the following:

– Autochartist, this is an automated chart pattern recognition tool that comes with the trading platform and is free to use for Tickmill’s live account holders.
– Tickmill VPS, this provides low latency trading using EA’s even when the trader’s parent computer or terminal is turned off. This comes in three packages, gold, silver and bronze, and costs 69 GBP, 39 GBP, 22 GBP monthly respectively. They also have managed VPS services available which costs 22 GBP monthly.
– Myfxbook record keeping of all trading activity, both manual and automatic trades.
– Forex calendar.
– Forex calculators (margin calculator, pip calculator and currency converter).

Tickmill Review – Commissions and Spreads

The table below shows the spreads, as taken from Tickmill MT4 market watch. Spreads on Tickmill are fixed. Spreads on EUR/USD are the lowest, starting from 0.0 pips up to 1.6 pips on the Classic account. Pro (2 units per 100k) and VIP (1 unit per 100k) incur a commission whereas the Classic account does not.

tickmill-spreads-commissions

Tickmill Bonus and Promotions

Tickmill doesn’t offer any bonuses to European and UK traders as per regulation but they do offer a $30 welcome bonus in the form of a no deposit bonus to it’s global non-EU clients. This means if you’re not living in the UK or the EEA, you can test out Tickmill with $30 for free, without the need of depositing any money yet yourself.

On Tickmill Seychelles there are also monthly promotions. One example is the Trader of the Month award, which awards the top trader of the month with a free trading credit of $1000 each month.

The Tickmill NFP machine is a prediction competition. All traders are given an asset and asked to predict the price, 30 minutes after the NFP are released. Whoever can predict the outcome accurately, wins $500 in trading credit. The closest prediction, if not accurate, wins $200.

Tickmill Customer Support

Customer support on Tickmill is available in  14 languages, providing customer service via:

– Live chat (available from Monday 9 am to Friday 10 pm). Times are UTC +2.
– Phone: +44 203 608 6100 (Tickmill UK); +852 5808 2921 and +65 3163 0958 (Tickmill Seychelles).
– Email: [email protected] (Tickmill UK) and [email protected] (Tickmill Seychelles)
– Social media: Facebook.com/Tickmill and Twitter.com/Tickmill
– Callback Request form on their website.

It takes about 5 minutes to get a response from a live chat representative. Responsiveness to social media posts is done within about an 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.

Tickmill Review Conclusion

For this Tickmill review, updated for 2020, we can conclude that Tickmill is suitable for traders all over the world. But, because of regulation, Tickmill has two branches, a UK one and a Seychelles one.

For traders playing by ESMA rules, they can use Tickmill UK or Europe. Traders from other parts can use Tickmill Seychelles respectively. The low spreads and commissions (on Pro and VIP accounts) together with outstanding customer service and fast platforms make Tickmill a very good broker. For this reason Tickmill has made it into choosebroker’s Best UK brokers list. We can highly recommend opening a real account with Tickmill, or even just a demo account to try their platform out.

Screenshots

Screenshot 1 Screenshot 2

Pros

  • Low minimum deposit of just $100 or equivalent
  • $30 free welcome bonus for non-EU/EEA countries
  • Low, fixed spreads from 0.0 pips
  • Regulated by 6 regulatory bodies

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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