Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

ThinkForex
9.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT THINKFOREX
Tickmill
8.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT TICKMILL
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

ThinkForex is regulated by the Financial Conduct Authority. ThinkForex have provided Forex trading services since 2010.

Tickmill is regulated by FSA SD008. Tickmill have provided Forex trading services since 2014.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 4 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Melbourne, Australia Seychelles Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 59
Commodities Offered 16
Stocks Offered 99
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes Yes Yes
Dow Jones Yes No Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No Yes
MT4 Mac Yes Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms ThinkTrader No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No No
Available Languages

English, Chinese, and Japanese

English, Spanish, Russian, Chinese, Indonesian, and Vietnamese

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

Losses can exceed deposits

See platform & features

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by ThinkForex and Tickmill

Demo account No Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes Yes No
Islamic account Yes Yes Yes
Zero spread account No Yes No
VIP account Yes Yes Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes Yes Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None None None
Min deposit $250 $25 $100

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No Yes Yes
Price alerts Yes No Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies Varies
See all funding options

Losses can exceed deposits

See all funding options

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries EU countries, AU, US EU countries, AU, US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 61 3 9093 3400 +65 3163 0958 (44) (0) 8005200423
Live Chat Yes No Yes
Website www.thinkforex.com http://www.tickmill.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.8 pips + $0.00 0.2 pips + $4.00 0.9 pips
GBP/USD (Average: 1.1 pips) 1.2 pips + $0.00 0.7 pips + $4.00 1.6 pips
USD/JPY (Average: 1.1 pips) 1.0 pips + $0.00 0.2 pips + $4.00 1.1 pips
AUD/USD (Average: 0.8 pips) 0.8 pips + $0.00 0.4 pips + $4.00 1.1 pips
USD/CHF (Average: 2.3 pips) 1.0 pips + $0.00 0.7 pips + $4.00 1.6 pips
USD/CAD (Average: 2.9 pips) 0.9 pips + $0.00 0.6 pips + $4.00 2.0 pips
NZD/USD (Average: 3.6 pips) 2.0 pips + $0.00 0.7 pips + $4.00 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.0 pips + $0.00 0.5 pips + $4.00 1.5 pips
View all spreads

Losses can exceed deposits

View all spreads

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission No No No
Deposit Fee Varies No fees No
Withdrawal Fee Varies No No
View All Fees

Losses can exceed deposits

View All Fees

81% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from www.thinkforex.com. Last updated on 01/12/2019.

All information collected from http://www.tickmill.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

ThinkForex is an online forex trading service provider who are regulated by the ASIC. To open an account with ThinkForex, minimum deposits start from $250.

With ThinkForex you can trade Forex, metals, and CFDs. If you like to trade on the go, ThinkForex have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

ThinkForex offer MT4 WebTrader, MT4 for Mac, MT4 for Asset Managers, Mobile trading, MT4 for iPhone, iPad, Android, Windows, Blackberry, cTrader, cWeb, cAlgo, cTrader ECN Execution platforms to make your trades and support 4 different languages.

The spreads offered by ThinkForex for the most popular instruments are:
0.8 EUR/USD, 0.5 FTSE 100, 0.2 GOLD,
1.2 GBP/USD, 2 DOW/JONES, 0.04 Crude Oil,
see all the spreads here.

Tickmill is an online forex trading service provider who are regulated by the Financial Services Authority. To open an account with Tickmill, minimum deposits start from $25 or equivalent.

With Tickmill you can trade Forex, stocks, indices, commodities, CFDs and metals. If you like to trade on the go, Tickmill have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Tickmill offer MetaTrader 4, MetaTrader 4 for PC & MAC, MetaTrader 4 for Android & iOS, Virtual Private Server (VPS) platforms to make your trades and support 6 different languages.

The spreads offered by Tickmill for the most popular instruments are:
1 EUR/USD, 3 FTSE 100, 13 GOLD,
1.5 GBP/USD, 4 DOW/JONES, 4 Crude Oil,
see all the spreads here.



For more information about trading with Tickmill, we have put together an indepth Tickmill review with all the pros and cons about this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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ThinkForex or Tickmill?

Offers live chat support or offers Demonstration accounts ?

If you’re a trader looking for a broker that supports live chat, ThinkForex may be the better option. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider ThinkForex and Tickmill to be equally reliable. We’ve broken down why below:

Who are they regulated by?

ThinkForex is regulated by Financial Conduct Authority and ASIC, while Tickmill is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both ThinkForex and Tickmill will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

ThinkForex has been around for 9 years, while Tickmill have been around for 5 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both ThinkForex and Tickmill use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both ThinkForex and Tickmill are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

ThinkForex are based in Melbourne, Australia, while Tickmill are based in Seychelles .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both ThinkForex and Tickmill offer forex trading. Also, if you’re looking to trade cryptocurrencies,

neither ThinkForex nor ThinkForex offer commodity trading.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both ThinkForex and Tickmill offer this. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. ThinkForex, for example, offer a mini account, standard account and VIP account.

For Muslim traders, ThinkForex offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

ThinkForex does allow scalping and hedging. While Tickmill also allows scalping and hedging. You can trade with EAs (expert advisors) on both ThinkForex and Tickmill.

In terms of risk management tools, neither ThinkForex or Tickmill offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

ThinkForex accept Neteller while Tickmill accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, ThinkForex and Tickmill both charge 0.00 points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: ThinkForex or Tickmill?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Tickmill is more reliable based on our criteria above. Tickmill has a wider range of instruments to trade. Tickmill offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.