Review of Tickmill - Forex Broker From UK (2024)

Tickmill – Broker Review

Tickmill is a regulated CFD and Forex broker that was founded in 2011. It has its headquarters located in the United Kingdom and also has offices in Seychelles. Indeed, in the United Kingdom, this broker operates under the company Tickmill UK Limited, which is regulated by the FCA, while in the Seychelles it operates under the company Tickmill Limited, which is regulated by the FSA Seychelles.

It is characterized by the variety of services offered to its customers in addition to the regular trading accounts, such as a NDD execution, various trading accounts for clients with different profiles, trading contests for clients (demo and real accounts competitions), various types of trading platforms, regular promotions and others.

In the following review we will describe the main services of this online broker:

Type of broker

Tickmill is an ECN Forex and CFD broker with NDD (Non Dealing Desk) execution.

Regulation

Currently, this broker has the following regulation, depending on the subsidiary company and the location of its offices:

• Tmill UK Limited is licensed and regulated by the UK’s FCA (Financial Conduct Authority) under registration number 717270.
• Tickmill Limited is licensed and regulated by the FSA Seychelles (Cyprus Securities Exchange Commission) of Seychelles, under license number SD008.

Country of origin

Its main offices are located in the United Kingdom. It also has offices located in the Seychelles Islands.

Trading Instruments

The trading instruments offered by this broker to its clients are the following:

• Forex Market: 62 currency pairs in the Forex market, including major pairs such as EUR/USD, GBP/USD and USD/JPY, and more exotic pairs such as USD/ZAR, USD/RUB and USD/SGD among others. Regarding the trading conditions for Forex trading, Tickmill offers a minimum transaction size of 0.01 lots, a maximum leverage of 1:500 and low and variable or fixed spreads (depending on the account type chosen by the trader) , from 0.0 pips onwards for the most important currency pairs.
• Precious Metals: Gold and silver in the spot market, two of the most traded and important raw materials in the markets. The leverage for gold is equal to the general leverage of the account and the leverage for silver is equal to a quarter of the general leverage of the account.
• Contracts For Difference*: CFD based on the following instruments:
  • 15 of the most important stock market indices, such as S&P 500 (USA500), Dow Jones (USA30), FTSE 100 (UK100), IBEX 35 (SPAIN35), DAX 30 (DE30), and Nikkei 225 (JP225) among others
  • WTI Crude Oil.
  • 4 of the most important government bonds in the European bond markets, including the Euro Bobl (cash) and the Euro Bund (cash) among others.
  • Bitcoin against the US dollar (BTC/USD).

*The trading conditions of the Contracts For Difference depends on the underlying asset of the contract.

Trading Accounts

This broker offers several types of trading accounts for clients with different profiles, which have the following characteristics:

-All Tickmill accounts offer a market execution without a trading desk (Non Dealing Desk).

-For the three types of accounts presented above, Tickmill offers an Islamic version, that is, an account that has the same characteristics as the original but is swap-free, which means that they do not make the daily charge for rollover in the overnight positions that are made in regular trading accounts.

Demo Accounts

This broker offers a demo account with no time limit, which allows the client to evaluate the broker’s services and practice their trading strategies without risking real money in the process.

You can learn more about the process to open a demo account in the following guide: Tutorial to open a demo account with Tickmill

Trading Platforms

The types of trading platforms offered by this broker to its clients are:

• Metatrader 4: One of the most popular and comprehensive trading platforms in the field of Forex trading. It is a downloadable application that is designed with a variety of trading tools, including prices updated in real time, market news, advanced price charts with multiple time frames (from 1 minute to 1 month), dozens of technical indicators incorporated and more. Also, MetaTrader 4 provides functions for the creation, evaluation and implementation of automated trading systems (Expert Advisors) based on all kinds of strategies. It also allows copying automatically trades (copy trading) performed by other traders who use this platform, including experienced traders with successful trading systems.
• MT4 Webtrader: It is a web-based trading platform (no download or installation is required) that offers full access to the client’s trading account and financial markets from any computer with an Internet connection. It is based on the Metatrader 4 platform and therefore offers many of its core features and tools, including up-to-date market quotes, multi-timeframe price charts, built-in technical indicators, and trading management features (including various order types). In addition, it has a user-friendly interface.
• Platforms for mobile devices: Tickmill offers a series of trading applications for mobile devices such as the iPhone or smartphones based on Android technology. These platforms are based on Metatrader 4 and include functions such as updated quotes, price charts, market analysis indicators, market news, and others. Through these applications, the client can access their MT4 accounts and trade in multiple markets from anywhere with an Internet connection, which means that they offer a lot of flexibility to the trader.

Access to Myfxbook AutoTrade mirror trading platform and service (Automated trading)

Tickmill clients have access to the Myfxbook Autotrade mirror trading service and platform, which allows the trader to copy the trades of any selected trading system automatically into their Metatrader 4 account with Tickmill. The copying process is fairly simple and no software connection is required. The trader only has to connect his trading account with the Myfxbook platform, select the system of his interest and activate the copy process that allows the replication and monitoring of the trades carried out by the selected system.

Myfxbook has hundreds of trading systems of all types, including manual and automated systems (Expert Advisors) among which the trader can select the ones he deems most appropriate. In addition, the company offers updated performance statistics in real time for all systems that allow the trader to carefully analyze each trading system and choose only the most profitable ones.

Only the historically profitable systems that Myfxbook selects directly from the live accounts in which the signal providers have implemented the manual or automated trading systems they offer for copying their trades are shown. The trader can add or remove a system that he considers unprofitable or even dangerous at any time.

Payment Options

The options offered by this broker for the deposit/withdrawal of funds from the trading accounts are as follows:

• Wire transfer.
• Credit card.
• Skrill.
• Neteller
• Fasapay.

Accepted currencies are EUR, GBP and USD.

Main Advantages of Tickmill

• It is a broker duly regulated by the FCA of the United Kingdom, one of the most important financial services regulatory bodies.
• Tickmill offers its clients access to a wide variety of markets and trading instruments, including Forex, Precious Metals and CFDs on multiple financial markets.
• All trades are carried out with an STP execution without dealer intervention (Non-Dealing Desk), as in a Market Maker broker.
• It regularly offers promotions for its new and existing customers, such as deposit bonuses and free bonuses. It also organizes trading competitions, including tournaments for demo accounts.
• Customers have access to a prepaid MasterCard for funds withdrawal.
• Access to a virtual private server (VPS) to all its clients, which allows to significantly improve the operation of the trading platform, especially if the client is using EA.
• Analysis and daily reports on the markets made by experts from the company.
• An economic calendar updated in real-time.
• Access to various Forex calculators, including a currency converter, a margin calculator and a pip value calculator.
• Customers also have free access to Autochartist, an application that uses multiple technical analysis tools (mainly graphical analysis) to scan markets and filter noise, highlight major trading opportunities, and predict future price movement with precision, speed, transparency, and quality of information.
• Access to various educational tools for the trader, including:
  • Free seminars.
  • Free webinars.

An affiliate program owned by the same company, through which the affiliate can earn money promoting the financial services of this broker.

Main Offers of Tickmill

The current promotions of this broker are the following;

• A free $30 welcome bonus for all new Tickmill customers who open an account with the company. The bonus does not require a previous deposit.
• Traders of the Month Contest, which rewards the two most profitable Tickmill traders every month with a prize of $1,000 USD to each one.
• Tickmill “NFP Machine” Contest, which rewards the participant who manages to guess the price of a certain instrument selected by the broker, 30 minutes after the publication of the Non-Farm Payroll of the United States.

Other Categories of this broker

• Gold Broker
• Silver Broker.
• CFD Broker.
• Market Maker Broker.
• Metatrader Broker.

More information on the broker Tickmill and its online trading services in the following guide: Complete Tutorial on Tickmill