XM Vs Tickmill

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In the competitive world of online trading, two prominent names that often emerge are XM and Tickmill. These brokers have carved a niche for themselves by providing a range of trading services and platforms to cater to the needs of traders worldwide. Both XM and Tickmill have gained popularity for their user-friendly interfaces, competitive pricing, and extensive educational resources. Traders often find themselves pondering over the choice between these two brokers, weighing the pros and cons. In this article, we will delve into a detailed comparison of XM and Tickmill, analyzing their key features, trading conditions, and overall performance, to help you make an informed decision.

Overview of XM

XM

XM is a forex and CFD broker that has been operating since 2009. XM is regulated by several authorities, including ASIC, CySEC, FSC, and DFSA. XM offers over 1000 trading instruments, including forex, stocks, commodities, indices, metals, and energies. XM has low spreads and competitive fees on its trading platforms, such as MT4 and MT5. XM also provides customer service and education in over 30 languages.

It has over 10 million clients from over 190 countries. XM trading has some features that make it attractive for traders, such as ultra-low spreads, flexible leverage, no requotes, no rejections, fast and reliable execution, access to multiple trading platforms, support for various devices, and free access to market research, analysis, and education. With its global presence and extensive offerings, XM has become a preferred choice for traders worldwide.

Pros of XM

• XM has low spreads and competitive fees on its trading platforms, such as MT4 and MT5.
• XM is licensed and regulated by multiple authorities, such as ASIC, CySEC, FSC and DFSA.
• XM has a global presence and supports over 30 languages.
• XM provides high-quality customer service and education for traders of all levels.

Cons of XM

• XM does not offer cryptocurrency trading or binary options.
• XM has limited payment methods compared to some other brokers.

XM Group is a multi-award winning globally established and regulated broker that offers tight spreads, fast execution speeds and low commission fees, for trading over 1,000 instruments on user-friendly platforms. They also provide education, market analysis tools and convenient funding options.

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

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Overview of Tickmill

Tickmill

Tickmill is a forex and CFD broker that was founded in 2014 and is regulated by several authorities, including the UK’s FCA and Cyprus’s CySEC. It offers over 80 trading instruments, including forex, indices, stocks, bonds, commodities, and cryptos on the MetaTrader platforms and TradingView. Tickmill has low forex fees and no withdrawal or inactivity fees. They also provide educational materials from the CME and sentiment data from Acuity Trading to help traders with their market analysis.

Tickmill has over 400,000 clients from over 200 countries and supports multiple payment methods and base currencies. It is a reliable and transparent broker that aims to provide a high-quality trading experience for traders of all levels. Tickmill also runs various promotions and contests for its clients and partners. Additionally, Tickmill prioritizes customer satisfaction by providing responsive customer support and a user-friendly trading environment.

Pros of Tickmill

• Tickmill has low forex fees and no withdrawal or inactivity fees.
• Tickmill is regulated by several authorities, including the UK’s FCA and Cyprus’s CySEC.
• Tickmill provides educational materials from the CME and sentiment data from Acuity Trading.
• Tickmill supports the TradingView platform, which has advanced charting and analysis tools.

Cons of Tickmill

• Tickmill has a limited product portfolio, as it does not offer stocks, funds, bonds or cryptocurrencies.
• Tickmill has outdated platform design and functions on the MetaTrader platforms.
• Tickmill has basic news feed and research tools compared to some other brokers.
• Tickmill has limited payment methods and base currencies.

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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Comparison between XM and Tickmill

Let’s dive into a detailed comparison between XM and Tickmill to help you make an informed decision about these two brokers.

Regulation

XM is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission of Belize (IFSC). Tickmill is regulated by the Financial Conduct Authority (FCA) of the UK, the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Services Authority (FSA), the Labuan Financial Services Authority (Labuan FSA) of Malaysia and the Financial Sector Conduct Authority (FSCA) of South Africa. Both brokers are regulated by CySEC, which is a tier-2 authority that follows the EU’s MiFID II directive and provides investor protection up to €20,000.

Trading Platforms

XM offers two popular trading platforms: MetaTrader 4 and MetaTrader 5. These platforms are well-known for their advanced features, user-friendly interfaces, and extensive trading tools. Tickmill also offers MetaTrader 4 and MetaTrader 5, providing traders with a familiar and robust trading environment. In addition, Tickmill goes a step further by offering the WebTrader platform, which allows traders to access their accounts and trade directly through a web browser. This provides flexibility and convenience for traders who prefer browser-based trading.

Pricing and Fees

XM offers commission-free trading on Standard, Micro, and ultra-low accounts, with spreads starting from 0.6 pips for forex and 0.7 points for stock indices. On the Zero account, there’s a $3.5 commission per lot per trade but spreads start from 0 pips for forex and 0.1 points for stock indices. XM applies a $5 per month inactivity fee after one year of no trading activity. Tickmill provides commission-free trading on its Classic account, with spreads starting from 1.6 pips for forex and 1 point for stock indices. For the Pro and VIP accounts, there’s a $4 commission per lot per trade, but spreads start from 0 pips for forex and 0.2 points for stock indices. Tickmill does not charge any inactivity or withdrawal fees.

Both XM and Tickmill have low trading fees for CFDs and charge no withdrawal fee. XM offers three types of accounts: Micro, Standard, and Zero. Tickmill offers four types of accounts: Classic, Pro, VIP, and Islamic. Both brokers offer commission-free accounts (Micro and Standard for XM, Classic for Tickmill) and commission-based accounts (Zero for XM, Pro and VIP for Tickmill). The commission rates vary depending on the account type and the trading instrument. For forex trading, XM charges $3.50 per lot per trade on Zero accounts, while Tickmill charges $2.00 per lot per trade on Pro accounts and $1.00 per lot per trade on VIP accounts. The average spreads are also lower for Tickmill than for XM on most currency pairs. For stock index CFDs, both brokers charge no commission and have similar spreads. Tickmill has a clear advantage over XM in terms of pricing and fees, as it has lower forex fees and commissions. XM applies a $5 per month inactivity fee after one year of no trading activity. while Tickmill does not charge any inactivity or withdrawal fees.

Broker Type

Both XM and Tickmill are forex and CFD brokers that have different broker types depending on the account type and the trading instrument. XM is a market maker broker that acts as the counterparty to the client’s trades. XM offers fixed or variable spreads depending on the account type and the trading instrument. Tickmill is a hybrid broker that acts as both a market maker and an STP/ECN broker depending on the account type and the trading instrument.

Leverage

XM provides generous leverage options to its clients. For forex, their Standard, Micro, and Ultra Low accounts offer high leverage of up to 1:1000, while for stock indices, it’s up to 1:200. For those opting for the Zero account, XM still offers considerable leverage, with up to 1:500 for forex and 1:200 for stock indices. Meanwhile, at Tickmill, traders can enjoy leverage of up to 1:500 for forex and 1:100 for stock indices across their Classic, Pro, and VIP accounts.

Asset Selection

XM boasts an extensive selection of more than 1000 trading instruments, encompassing forex, stocks, commodities, indices, metals, and energies. Additionally, XM presents CFDs on stocks from 17 countries and 18 stock indices. Tickmill, on the other hand, offers a comprehensive array of over 80 trading instruments, encompassing forex, indices, stocks, bonds, commodities, and cryptocurrencies. Moreover, Tickmill extends its services with CFDs on stocks from 4 countries and 15 stock indices, catering to various trading preferences and interests.

Social Trading

XM provides social trading opportunities through its collaboration with Trading.com. Via their MT5 accounts, XM clients can effortlessly follow and replicate other users’ trades or share their own. On the other hand, Tickmill offers social trading services in association with Myfxbook, a social trading network equipped with diverse tools and features for traders. By accessing Myfxbook through their MT4 accounts, Tickmill clients gain access to copying trades from other users and showcasing their trading prowess.

Minimum Deposit

XM boasts a low minimum deposit of $5 for Standard, Micro, and Ultra Low accounts, and $100 for its Zero account. Offering flexibility, XM accepts credit/debit cards, e-wallets, bank transfers, and cryptocurrencies. In comparison, Tickmill requires a higher minimum deposit of $100 for Classic, Pro, and VIP accounts, yet provides the same array of payment options. Neither broker imposes deposit fees, though some payment methods may have their own fees or limitations, ensuring seamless transactions for traders.

Which is More Suitable for You?

XM and Tickmill are both market makers that offer ECN and STP execution models, low trading fees, high leverage ratios, and social trading features. However, they also have some differences that may make one more suitable for you than the other, depending on your preferences and needs. Tickmill has more regulatory licenses from top-tier authorities than XM, which may give you more confidence and protection when trading with them. Tickmill also has lower forex fees and no inactivity fee, which may save you some money in the long run. XM, on the other hand, has lower minimum deposit requirements and higher leverage ratios for some clients than Tickmill, which may give you more flexibility and convenience when opening an account and trading with them. Therefore, you should consider these factors when choosing between XM and Tickmill as your broker.

Conclusion

In conclusion, when it comes to the XM vs. Tickmill showdown, both brokers have their strengths and weaknesses. Ultimately, the choice between them depends on your specific trading preferences and needs. It’s essential to consider factors like available instruments, platform features, customer support, and regulatory compliance. So, take your time, weigh the pros and cons, and make an informed decision that aligns with your trading goals.

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