Tickmill Review

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Tickmill is a regulated broker that has a reasonable selection of around 80+ financial instruments which you can trade online. They provide you with a choice of professional yet easy to use trading platforms for all of your devices. I found there to be plenty of tools for conducting in-depth market analysis and generating automated trading signals. I am impressed with the brokers trading conditions which includes very low spreads and commissions along with rapid trade execution speeds at the best available market prices. You can choose from a good variety of flexible account types and convenient payment options for quick and easy account funding.  If you are a beginner then you can open a free demo account which is a great way to practice your strategies without any risk. You can start trading on a real account with a minimum deposit of $100 and it takes just a few minutes to complete the signup process.

Summary

Tickmill was founded in 2015 and built by an experienced team of global market traders who understand what traders require to reach their full potential. The team remain focused on growing the company whilst adhering to the best interest of its clients. They offer retail and institutional clients across the globe access to trade a decent selection of trading instruments in multiple markets including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies, Bonds & CFDs. The broker allows all trading strategies including hedging, scalping and expert advisors. I think they have suitable for conditions for day trading and running automated systems.

Trading Conditions

The broker incorporates innovative technology to provide premium trading conditions with low spreads starting from just 0.0 pips, competitive commissions and fast execution speeds of 0.15 seconds on average. There are no requotes and a fully automated No Dealing Desk (NDD) execution model for absolute transparency. I always prefer to use an NDD brokerage as it means that there is no conflict between my trades and the brokers. If there was a dealing desk, they could set their own prices and even take the opposite side of my position.

Tickmill liquidity is sourced from global, top-tier banks and hedge funds. This liquidity is pooled together into the liquidity pool. When you place a trade, they will match you against the best price available from that liquidity pool. Generally speaking, the more liuqidity that a broker has, the better prices you can get. Lots of liquidity can also improve execution speeds and give better spreads. 100% of orders are cleared with their liquidity providers using quotes directly from them.

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Regulation

I am very impressed with the regulation that Tickmill has. They are regulated in multiple jurisdictions which means that there are rules they must comply with in order to protect investors. The eligible protection will depend on which entity of the broker that you open an account with. I always prefer to use a regulated broker as it gives me peace of mind that they will be operating in an honest and transparent way, so that I can focus on my trading without worrying about the safety of my funds. AvaTrade is another well-regulated broker that you might want to check out.

Tickmill.com is owned and operated within the Tickmill Group of companies. Tickmill Group consists of Tickmill UK Ltd, regulated by the Financial Conduct Authority (FCA), Tickmill Europe Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), Tickmill South Africa (Pty) Ltd, regulated by the Financial Sector Conduct Authority (FSCA), Tickmill Ltd, regulated by the Financial Services Authority of Seychelles (FSC), Tickmill Asia Ltd – regulated by the Financial Services Authority of Labuan Malaysia (LOFSA).

ESMA

It should be noted that the Tickmill UK and European companies have restricted leverage of 1:30 due to the European Securities and Markets Authority (ESMA) rules. They also follow the European Union’s Markets in Financial Instruments (MiFID II) directive which provides a harmonised regulatory regime for the provision of investment services within the European Economic Area. The main objectives of this directive are to maximise the efficiency, increase transparency, encourage competition and offer greater consumer protection. MiFID II allows investment firms to provide investment and ancillary services within the territory of another member state and/or a third country, provided that such services are covered by the investment firm’s authorisation.

Funds

The broker holds client funds in segregated accounts with trusted financial institutions for protection and to ensure that the funds cannot be used for any other purpose such as business running costs. Account holders have negative balance protection that ensures clients cannot lose more than their initial deposit. If the client risk team identifies irresponsible trading, they may contact the client and ask them to reduce risk or they may reduce the leverage on the account. Whilst this may seem intrusive to some, it is actually for your own benefit.

Tickmill Europe Ltd is a member of the Investor Compensation Fund (ICF). The ICF was set up according to Article 59(1) and (2) of Law 144(Ι)/2007 as an investor compensation fund for CIF clients and its functions are regulated by the directive 144-2007-15 of CySEC. The fund’s objective is to secure the claims of covered clients against the ICF members through the payment of compensation for any claims arising from the failure of a member of the fund to meet its obligations.

Countries

The broker accepts clients from all over the globe, excluding some countries due to regulatory restrictions such as the USA, Cuba, Iraq, Myanmar, North Korea and Sudan. If you find that your country is not accepted, please feel free to browse our broker reviews for an alternative option.

Platforms

Tickmill give you convenient market access via one of the most widely used and popular trading platforms which is MetaTrader 4 (MT4). The MT4 platform is freely available to use on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The desktop version of the platform has all of the features and functionalities. The MT4 app is great for those of you who wish to take the markets with you and trade whilst on the go. The MT4 web terminal runs in most web browsers without you needing to download or install any software and is always up to date.

MetaTrader 4 Platforms

I think it would be great if they could add the MetaTrader 5 (MT5) platform. This is the latest version which you can get from many other brokers including HYCM who have both MetaTrader platforms available for you to choose from. They are very similar, so if you master one, you shouldn’t have any problems making the switch over to the other. That being said, MT4 should be more than adequate to meet the needs of most traders.

MT4 Desktop Platform

The MT4 trading platform is fully customisable and very user friendly. It is easy to use with a small learning curve and thus is suitable for beginner traders whilst also having enough features for the more advanced traders. It is available in multiple languages and has built in user guides. The enhanced charting functionality and sophisticated order management tools help traders to control positions quickly and efficiently. It includes 9 chart timeframes, technical indicators for chart analysis, drawing objects, real-time quotes, multiple order types, economic calendar, trading strategy templates and a built in MetaEditor for creating custom indicators and automated trading systems in the MQL programming language. The MQL online community is a useful resource for additional MT4 add-ons and to communicate with fellow users.

MT4 Desktop Platform

I have been an avid use of the MT4 desktop platform for many years now. It was the first platform that I used for my day trading and haven’t looked back since. I have tried many other platforms but none can match the simplicity and functionality of MetaTrader in my humble opinion. The main feature from my point of view is that it is an ideal solution for running automated trading systems. I have multiple instances of MT4 running around the clock to test my strategies and compare brokers. The platform does everything that I need it to and much more. Another advantageous aspect of MT4 is that it is available through most brokers. Therefore, if you switch brokers later down the line, you won’t need to learn how to use another platform from scratch.

MT4 Web Trader Platform

The web trader is an online trading platform that gives quick and easy access to MT4 without needing to download, install and run any additional software. It provides the same features as the MT4 platform but runs directly in your browser. You can open a new browser window and have the platform running in just one click from anywhere in the world with an internet connection. This is good in case you do not have your own devices handy and need to use someone else’s to access your account. All information transmitted via the online platform is securely encrypted. I don’t really use the web terminal that much because it doesn’t support expert advisors which is one of the most important parts of my trading strategy.

MT4 Web Trader

MT4 Mobile App

MT4 is available to download on both Android and iOS from the relevant app stores. It also has the same features as the desktop platform with the convenience of being able to trade from the palm of your hands. You can open, manage and close positions, and analyse the markets. Push notifications can also be set to alert you when a particular event occurs. This is great as it means we don’t need to stare at charts all day long waiting for our price level. I am a huge fan of trading apps and find myself frequently checking them to see how my trades are going and what is happening across the markets.

MT4 Trading App

FIX API

Tickmill do offer a FIX API connection to private and institutional clients who maintain a minimum account balance of $500,000. The monthly commission generated should be $5,000 to get the FIX API for free, otherwise the fee is $5,000 minus commission generated. FIX API allows traders to trade with Direct Market Access (DMA) for the lowest possible spreads and fastest execution. This is an excellent trading setup for those who are trading large volumes and using strategies which rely on the smallest price movements. I would compare the FIX API offering to that which you can get over at Global Prime.

Tools

I was impressed to see a good selection of useful trading tools provided by the broker. These can be used to help improve your trading environment, market analysis and strategies. That being said, I do think the MT4 platform should have more than enough tools to meet most of your demands. You can also improve the platforms capabilities with a plethora of additional tools available in the MQL marketplace which you can access directly through the platform. You will also find lots of free and paid MT4 tools online and can even build your own using the MQL editor which you can also access from within the platform.

Autochartist

Autochartist is a powerful technical analysis tool that automatically scans the markets for you to find chart patterns and key price levels across multiple instruments. This award-winning tool can help find potential trading opportunities and is free to all clients. It can be used as a standalone online web platform or as an MT4 plugin. There is an online community with an abundance of educational material for Autochartist. Whatever your experience level, everyone should find this software useful for identifying trading signals.

Autochartist

I think this is an excellent tool for automated analysis based on your own customised strategies. It can literally save you from hours of scanning charts and can perform a combination of analysis that it would be completely unrealistic to do manually. It is similar to Trading Central, which is another great analysis tool but not available through this broker. However, GO Markets have both of these tools available to traders.

Autochartist Benefits

• Saves you time from analysing the markets as it does it for you
• Can scan throughout the day and night
• Receive alerts when an opportunity is found
• Forecast for possible levels that formed patterns could reach
• Fully customisable scanning according to your requirements
• Wide range of educational materials to learn how to use it
• Drag & drop quick launch directly into MT4
• All opportunities displayed on one screen

Technical Chart Patterns

Receive automatic notifications when emerging and completed technical chart patterns are found.

Autochartist Technical Analysis

Fibonacci Patterns

Identify simple and complex Fibonacci patterns for levels of possible support and resistance.

Autochartist Fibonacci Patterns

Volatility Analysis

View the volatility of different instruments to help asses risk and optimise potential stop loss and take profit levels.

Autochartist Volatility Analysis

Key Levels

Discover possible support and resistance levels for finding potential turning points and breakouts.

Autochartist Key Levels

Market Reports

Get daily reports of the technical outlook of various markets prior to the opening of the London, New York & Tokyo trading sessions.

Performance Statistics

Analyse previous patterns statistics over a 6-month period to see which performed well and which did not.

Myfxbook AutoTrade

You can use this tool to link your account to follow the strategies of other traders in Myfxbook Autotrade. The signals you follow will be copied automatically and directly into your Tickmill account. You can review historical performance of signals and filter according to your requirements. I think Myfxbook is a great tool for analysing your trading strategies and identifying areas in which you can improve. However, I did find the AutoTrade service to be hit and miss. Considering how many strategies there are on there, it can be difficult to find a good trader to copy. Even then, there is no guarantee the signals will produce results moving forward. For this reason, I much prefer to maintain control over my own trading. I don’t think anything can beat learning how to trade manually yourself. The broker has free demo accounts for you to get in plenty of practice.

Myfxbook AutoTrade

Economic Calendar

The economic calendar displays important economic events including the dates, time and impact expected. It also shows the previous, actual and forecasted results. You can change the time zone and filter according to your choice of impact and currency. This can be used as a vital part of a fundamental analysis. I am always checking the news prior to making any trade decisions. If you use a broker that has MetaTrader 5 such as Admirals, you will get an economic calendar built-in the platform. I find this more convenient than switching between tabs to check the news. You can also get plenty of economic calendar indicators to add to your MT4 platform.

Trading Calculators

The trading calculators can be used to convert currencies, calculate margin and pips. This saves time from manually performing the calculations. I thought they were OK for some simple calculations but I still found myself manually doing some myself as a double confirmation.

Tickmill VPS

Tickmill have partnered with BeeksFX to provide a virtual private server (VPS) that allows you to keep your trading platform running remotely 24/7. This can be useful for running expert advisors around the clock if it is not possible for you to always have your computer switched on. Tickmill clients receive 20% discount on all VPS packages. I have my own VPS from a third-party provider and find it to be an invaluable tool for running my automated systems 24/7 without needing my computer running all the time. There are other brokers who provide a free VPS, including Axi.

Tickmill VPS

One-Click Trading

The one-click trading (OCT) tool can increase the functionality of MT4 by enabling you to perform trade operations with a single mouse click from a quick trading panel on the chart. This is great if you are using strategies that require you to act quickly on market movements. I think it can be especially useful for those of you who are using manual scalping systems.

One Click Trader

Education

Unfortunately, at this time Tickmill do not offer any additional educational material. The closest thing would be the FAQs and news sections of the website. This is slightly disappointing as most brokers have some form of educational content to help bring beginners up to speed. It may be that they are more focused towards a professional clientele. Regardless, you can fund lots of trading guides and videos online. If you are a beginner, you may want to look at FXTM instead.

Markets

Tickmill give you a reasonable selection of trading instruments including CFDs on FX currency pairs, stock indices, crude oil, precious metals, bonds and more. I think there is a great choice of instruments if you primarily want to trade forex, but found them to be lacking in other asset classes. I would consider IG as an alternative if you are more of a stock trader and want access to some cryptos.

Forex Trading

Forex is the world’s largest market by volume and can be traded 24 hours a day, 5 days a week. The broker has a great choice of over 60+ FX currency pairs including majors such as the EURUSD, GBPUSD & USDJPY as well as plenty of minors and exotics to choose from.

Stock Indices & WTI Trading

You have access to trade CFDs on 15+ major global stock indices and crude oil with zero commissions, no requotes and no hidden mark-ups.

Precious Metals Trading

Precious metals are often considered as safe havens and a way to diversify a trading portfolio. The broker lets you trade CFDs on gold and silver against the US dollar with competitive spreads.

Bonds Trading

The bonds market is one of the largest securities markets that allows investors to speculate on the stability of government treasuries. Through Tickmill, you can trade German government bonds with competitive spreads and no commissions. They are actually one of a few brokers that I have reviewed who provide bonds, so this helps set them apart from the competition if that is something you are looking for. TD365 also have bonds if you want to weigh them up against another broker.

Accounts

I like how they broker has 3 account types to cater for the needs of different traders. You can choose from the Classic, Pro and VIP account. All accounts have over 84 trading instruments to trade including CFDs on over 60+ FX currency pairs, 15 stock indices, WTI, precious metals and bonds. The main difference between the accounts are the spreads, commissions and minimum deposit requirement.

Classic Account

The classic account has variable spreads starting from 1.6 pips and no commissions. The minimum deposit is $100, minimum lot size 0.01 and max leverage 1:500. If you are holding positions for a long period of time and not concerned about the spread, this account should do the job. If the minimum deposit is unattainable, Fusion Markets have a $1 deposit requirement.

Pro Account

The pro account has variable spreads starting from just 0 pips and a low $2 commission charge per standard lot per side. The minimum deposit is $100, minimum lot size 0.01 and max leverage 1:500. This account can be a great choice for traders who are using scalping systems that rely on small price movements.

VIP Account

The VIP account has variable spreads starting from just 0 pips and an even lower $1 commission charge per standard lot per side. The minimum deposit is $50,000, minimum lot size 0.01 and max leverage 1:500. The stop and limit levels for VIP account users are zero. This is my favourite account option as it has the lowest costs overall. That being said, the minimum deposit may be quite high for many traders.

Islamic Account

All accounts are also offered swap-free for Muslim traders who must comply with Sharia law. It is nice to see that the broker caters for traders of all religious beliefs. However, you can find an Islamic account option with the majority of brokers nowadays.

Demo Account

Demo accounts are available to test the different trading platforms and conditions before opening a real account. Whilst demo trading conditions are mainly the same, no slippage occurs on the demo account and the same human emotions are not involved. None the less, I feel it can still be a great way to practice your trading strategies in a risk-free environment so that you can build up your confidence before thinking about a live account.

Account Signup

To register an individual client account, you need to fill in the online application form that they estimate takes 3 minutes to complete. Once submitted, you will need to verify your email address and submit your Proof of Address (POA) and Proof of Identity (POI) documents for KYC purposes. After the accounts team have verified your documents, you will be able to fund your account and start trading. If opening a corporate account, you will need to provide additional documents such as a certificate of incorporation and articles of association. Support are on hand to assist should you need them during the account opening process.

Support

Customer support is provided via online chat, telephone and email, available Monday to Friday during business hours. Support is offered in a wide variety of languages including English, Italian, Spanish, Russian, Chinese, Indonesian, Vietnamese and Arabic. The support team are usually prompt, efficient and polite with their responses from my experience.

Funding

Tickmill offer a good selection of deposit and withdrawal methods including bank transfer, credit card and online payment processors. These can be conducted from within the client area. Withdrawals must be made via the same method used to deposit. Please note that some methods may only be available to specific countries. I like how we can use digital wallets as I find this to be the quickest and easiest way for me to get access to my funds. If there is some market news event that I want to try and take advantage of, I wouldn’t want to wait days for a bank transfer to clear as the opportunity will have passed by.

Tickmill has a zero fees policy on deposits and withdrawals which is great. Just keep in mind that you could get charged by third-party providers. Generally, the fee will be minimal but make sure that you check it beforehand especially if you are moving large amounts around.

Whilst Tickmill process all withdrawal requests within 24 hours on business days, the time necessary for the funds to reach your bank account can depend on the policies of your bank. Bank withdrawals can take 3-7 working days to be seen on the client’s account. Credit/debit card withdrawals can take up to 8 working days to be seen on the client’s account. Skrill, Neteller, FasaPay, UnionPay and credit card deposits are usually processed instantly while withdrawals are processed within one working day.

Accounts can be opened in a reasonable range of currencies which include USD, EUR, GBP, PLN. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. I think they could improve by adding support for some more currencies.

Conclusion

Overall, I found Tickmill to be a very sophisticated yet simple to use online broker with a professional service that is suitable for all levels of traders. The spreads and commissions are very competitive whilst the accounts are flexible enough to suit different trader needs. They have multi-jurisdiction regulation which means that I can focus on my trading whilst there is a very approachable support team if needed. You can trade a good range of currency pairs but I did find non-fx instruments to be slightly limited when compared to other brokers such as Swissquote. They do have the user-friendly MT4 trading platforms and FIX API solutions for institutional traders. I like that they have Autochartist as I find this excellent for automated market analysis. Whilst there is a demo account option, I did find the educational materials to be significantly lacking. If you just want to trade forex with minimal fuss and in a regulated environment, they could be a great choice of broker.

$100

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.

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