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

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Tickmill Review

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Tickmill is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies and indices.

Pros

  • Segregates client funds
  • Established in 2014
  • Regulated by Financial Conduct Authority
  • Min. deposit from $25

Cons

To open a live account, you’ll need a minimum deposit of at least $25. Alternatively, Tickmill offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 717270). Tickmill puts all client funds in a segregated bank account and uses tier-1 banks for this. Tickmill has been established since 2014, and have a head office in Seychelles, UK.

Before we dive into some of the more detailed aspects of Tickmill ’s spreads, fees, platforms and trading features, you may want to open Tickmill ’s website in a new tab by clicking the button below in order to see the latest information directly from Tickmill.

Visit Tickmill

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Tickmill screenshot Open a demo account

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

What are Tickmill's spreads & fees?

Like most brokers, Tickmill takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Tickmill’s website. The colour bars show how competitive Tickmill' spreads are in comparison to other popular brokers featured on BrokerNotes.

Tickmill
EUR/USD (Average: 0.7 pips) 0.2 pips + $4.00 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 0.7 pips + $4.00 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) 0.2 pips + $4.00 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 0.4 pips + $4.00 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) 0.7 pips + $4.00 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) 0.6 pips + $4.00 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) 0.7 pips + $4.00 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) 0.5 pips + $4.00 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, Tickmill’s minimum spread for trading EUR/USD is 0.2 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Tickmill vs. similar brokers.

See all Spreads

How much does Tickmill charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Tickmill at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $6.94. Here’s a rough breakdown of the fees and how this compares against XTB & Axitrader .

Tickmill XTB Axitrader
Spread from: $ 0.00 $ 2.00 $ 1.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 0.00 $ 2.00 $ 1.00
$2 more $1 more
Visit Tickmill Visit XTB Visit Axitrader

All fees/prices are for informational purposes and are subject to change.

General Fees

  • Tickmill doesn’t charge inactivity fees*
  • Tickmill doesn’t charge withdrawal fees*

Commissions

  • Tickmill doesn’t charge commission on CFD shares

What can you trade with Tickmill?

Tickmill offers over different instruments to trade, including over currency pairs. We’ve summarised all of the different types of instruments offered by Tickmill below, along with the instruments offered by XTB and Axitrader for comparison.

FX / Currencies Tickmill XTB Axitrader
# of forex pairs offered 48 80
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Tickmill XTB Axitrader
# of commodities offered 21 6
Metals Yes Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Tickmill XTB Axitrader
# of Stocks offered 1606 0
UK Shares No Yes No
US Shares No Yes No
German Shares Yes Yes Yes
Japanese Shares Yes Yes No
See Tickmill's InstrumentsSee XTB's InstrumentsSee Axitrader's Instruments

What’s the Tickmill trading experience like?

1) Platforms and apps

Tickmill offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

Tickmill Screenshot

Tickmill also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Tickmill 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Tickmill allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Tickmill offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As a market maker, Tickmill may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, Tickmill are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Tickmill offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller

3) Client support

Tickmill support a wide range of languages including English, Spanish, Russian, Chinese, Indonesian, and Vietnamese.

Tickmill has a BrokerNotes double AA support rating because Tickmill offer over three languages email and phone support.

4) What you’ll need to open an account with Tickmill

As Tickmill is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Tickmill’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Tickmill you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.tickmill.com/ on 01/09/2019.