IC Markets Vs Tickmill

Category: Broker Guides | Author: Trading Brokers | Date: July 20, 2023

If you are looking for a reliable and competitive forex broker, you may have come across IC Markets and Tickmill. These two brokers are among the most popular choices for traders who want to access the global forex market with low spreads, fast execution, and high leverage. But how do they compare in terms of their features, services, and regulations? Which one is better suited for your trading needs and preferences? In this article, we will compare and contrast IC Markets and Tickmill based on various criteria, such as account types, pricing models, trading platforms, regulations, etc. By the end of this article, you should have a clear idea of the pros and cons of each broker, and be able to make an informed decision on which one to choose. Let’s get started!

Overview of IC Markets

IC Markets

IC Markets

IC Markets is a leading global forex and CFD broker renowned for its advanced trading technology and comprehensive range of offerings. With a strong reputation in the industry, IC Markets offers traders access to a wide array of financial instruments, including currencies, commodities, indices, and cryptocurrencies. The platform boasts lightning-fast trade execution and low latency, facilitated by cutting-edge infrastructure and robust servers located in Equinix data centers.

Traders can choose from multiple trading platforms, including the popular MetaTrader 4 and MetaTrader 5, providing an intuitive and customizable trading experience. IC Markets also stands out with its deep liquidity pool, allowing for competitive spreads and minimal slippage. The broker prioritizes security and client protection, employing stringent regulatory measures and segregated client funds. Additionally, IC Markets offers various account types to cater to the diverse needs of traders, with options for both retail and institutional clients.

Pros of IC Markets

  • Advanced trading technology and a comprehensive range of financial instruments.
  • Lightning-fast trade execution and low latency.
  • Multiple trading platforms, including MetaTrader 4 and MetaTrader 5.
  • Deep liquidity pool, resulting in competitive spreads.
  • Strong emphasis on security and client protection.

Cons of IC Markets

  • IC Markets does not allow US traders, as it is not regulated by the NFA and does not comply with US regulations.
  • IC Markets does not offer negative balance protection, which means you can lose more than your account balance if the market moves against you.
IC Markets Logo

IC Markets is the world’s largest true ECN trading broker offering over 2,000 trading instruments across multiple markets on the most popular trading platforms. They are a multi-regulated broker with deep liquidity pools that can provide you with rapid trade execution speeds, low spreads, low commission fees, various funding options and 24/7 support.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Overview of Tickmill

Tickmill

Tickmill

Tickmill is a well-established and reputable forex and CFD broker that offers a comprehensive suite of trading solutions to traders worldwide. With a focus on delivering a seamless trading experience, Tickmill provides access to a wide range of financial instruments, including currencies, commodities, indices, and bonds. The broker prides itself on its advanced trading infrastructure, ensuring ultra-fast execution and minimal latency.

Traders can choose from various platforms, including MetaTrader 4, WebTrader, and Tickmill’s proprietary platform, enhancing flexibility and convenience. Tickmill stands out with its competitive pricing, tight spreads, and low commission rates, allowing traders to optimize their trading costs. The company is committed to client safety, employing robust security measures and adhering to regulatory standards. Additionally, Tickmill offers a range of account types tailored to different trading preferences and experience levels, catering to both retail and professional clients.

Pros of Tickmill

  • Wide range of financial instruments available for trading.
  • Advanced trading infrastructure for fast execution and minimal latency.
  • Multiple trading platforms, including MetaTrader 4 and proprietary options.
  • Competitive pricing with tight spreads and low commission rates.
  • Strong commitment to client safety and adherence to regulatory standards.

Cons of Tickmill

  • Tickmill does not offer accounts to residents of the United States, which limits its market reach and accessibility.
  • Tickmill has a limited range of tradeable assets compared to some other brokers, offering only forex, CFDs, and cryptocurrencies.
  • Tickmill’s pricing for its Classic account is not as competitive as its Pro and VIP accounts, which require higher minimum deposits.
Tickmill Logo

Tickmill is a multi-regulated online broker offering retail and institutional clients across the globe a decent choice of financial instruments. Spreads and commissions are competitive with flexible accounts. Platforms and tools are sufficient but educational material is lacking and they could offer more trading products.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparing IC Markets and Tickmill

Here are some key considerations to be made when comparing IC Markets and Tickmill:

Regulation

Both IC Markets and Tickmill are regulated by multiple authorities in different jurisdictions. IC Markets is authorized by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority of Seychelles (FSA), and the Financial Sector Conduct Authority of South Africa (FSCA). Tickmill is authorized by the Financial Conduct Authority (FCA) of the UK, CySEC, FSA, FSCA, the Labuan Financial Services Authority (LFSA) of Malaysia, and the Dubai Financial Services Authority (DFSA).

Trading Platforms

IC Markets provides a diverse range of trading platforms, including the widely acclaimed MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader. Tickmill also offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with their own WebTrader platform. Traders have the flexibility to choose a platform that suits their trading preferences and access a rich set of trading tools and features.

Pricing and Fees

IC Markets offers two primary account options. The Raw Spread account features ultra-tight spreads starting from 0.0 pips, accompanied by a commission of $3.50 per lot per side. On the other hand, the Standard account offers spreads starting from 1.0 pips with no additional commission charges. Tickmill offers a Pro account with low spreads starting from 0.0 pips and a commission of $2 per lot per side. Traders can select an account type based on their trading style and cost preferences.

Broker Type

Both IC Markets and Tickmill are non-dealing desk (NDD) brokers that use electronic communication networks (ECN) and straight-through processing (STP) to execute trades. This means that they do not take the opposite side of their clients’ trades or interfere with their orders. Instead, they connect their clients with various liquidity providers and offer them the best available prices in the market. However, there are some differences between the two brokers in terms of their ECN and STP models. IC Markets uses a hybrid ECN model, which means that it combines its own liquidity pool with external liquidity sources. Tickmill uses a pure ECN model, which means that it only relies on external liquidity sources. Both models have their own advantages and disadvantages, depending on the trading style and preferences of the trader.

Leverage

Both IC Markets and Tickmill offer traders access to leverage up to 1:500. This allows traders to amplify their trading positions, potentially increasing profits or losses. It’s important to note that higher leverage comes with increased risk, and traders should exercise caution and manage their positions accordingly.

Asset Selection

IC Markets offers a wide range of over 230 tradable instruments, including forex currency pairs, indices, commodities, bonds, futures, and cryptocurrencies. Tickmill provides access to over 80 currency pairs, as well as gold, silver, oil, stock indices, bonds, ETFs, and cryptocurrencies. Traders can select from a diverse set of assets, enabling them to diversify their portfolios and explore different market opportunities.

Social Trading

Social trading can be a powerful tool for traders looking to tap into the collective knowledge and experience of a trading community. In this regard, IC Markets stands out with its integration of renowned social trading platforms, such as Myfxbook and ZuluTrade. By connecting with these platforms, traders gain access to a vast network of successful traders, allowing them to observe and replicate their strategies. Tickmill offers social trading features for their clients, providing the option to follow, copy, or interact with other traders on their platforms. They support Myfxbook AutoTrade, allowing users to copy trades from selected signal providers based on performance, risk level, and trading style. Additionally, Tickmill offers Pelican Trading, an integrated social trading service with the MT4 platform, enabling chat with other traders, signal copying, and signal creation for others to follow.

Minimum Deposit

The minimum deposit requirement is an important consideration for traders, and both IC Markets and Tickmill offer options to suit various budgets. IC Markets requires a minimum deposit of $200 for the Standard account and $500 for the Raw Spread account. These relatively affordable minimum deposit amounts make it accessible for traders with different capital levels to enter the market and enjoy the benefits of IC Markets’ advanced trading infrastructure. On the other hand, Tickmill offers a lower minimum deposit requirement of $100 for their Pro account, allowing traders to start trading with a smaller initial investment.

Withdrawal and Deposit Methods

IC Markets and Tickmill offer various deposit and withdrawal methods, including bank transfers, debit/credit cards, and e-wallets like Skrill, Neteller, and PayPal. Both brokers do not charge fees for most transactions, but international bank transfers may incur a fee of AUD $20 from IC Markets and $25 from Tickmill. Withdrawals are typically processed within one business day, and the chosen withdrawal method must match the deposit method to comply with regulations and ensure fund security.

IC Markets or Tickmill: Which is Best for You?

Determining the best trading platform for you depends on your specific preferences and trading style. If you’re someone who values a wide range of trading instruments, advanced technology, and deep liquidity, IC Markets may be the ideal choice. With its extensive selection of over 230 tradable instruments, lightning-fast trade execution, and robust liquidity pool, IC Markets offers a comprehensive solution for experienced traders seeking a diverse portfolio. On the other hand, if you prioritize competitive pricing, a user-friendly interface, and access to social trading, Tickmill could be the preferred option. With its Pro account featuring tight spreads, low commissions, and support for popular platforms like MT4 and MT5, Tickmill caters to traders who appreciate cost-effectiveness and seamless trading experiences. Ultimately, assessing your specific requirements, such as desired assets, technological features, and preferred account type, will guide you in selecting the trading platform that best aligns with your unique needs and goals.

Conclusion

In the competitive landscape of online trading, choosing the right platform is crucial for traders seeking success. After a detailed comparison of IC Markets and Tickmill, it is evident that both platforms offer unique features and benefits. IC Markets excels in its wide range of trading instruments, advanced technology, and social trading integration, making it an attractive option for experienced traders. On the other hand, Tickmill stands out with its competitive pricing, user-friendly interface, and lower minimum deposit requirement. Ultimately, the choice between IC Markets and Tickmill depends on individual preferences, trading styles, and specific requirements. If you want to learn more about these brokers or other forex brokers in the market, you can explore our website for more reviews and comparisons. We provide unbiased and in-depth information on various aspects of trading. Thank you for reading and happy trading!


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