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Review of Tickmill CFD Broker 2020 - Perks for Beginners

Founded in 2014, Tickmill is a well-rounded online trading service that works in the best interests of traders at both beginner and expert levels.

They offer three different types of brokerage accounts, as well as a demo account that requires no deposit to set up. This review of Tickmill will look at the pros and cons of each account on offer. Our Tickmill brokerage review aims to answer the question: “Is Tickmill good?”

Highlights
  • A no-deposit-required demo account
  • A comprehensive and easy-to-navigate company site
  • A VIP account with excellent services
  • The provision of a variety of client research tools
3.
of 29 CFD Broker
Tickmill
Tickmill Erfahrungen
Trader Rating
95%
Go to Tickmill opinions
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Risk warning: Capital can be lost. Terms and conditions apply.
Headquarters and regulation

UK (FCA)

Fees and Spread

depends on type of account

Lever

up to 1:30

Mini contracts tradable

Yes

Trading platform

MT4, Broker-owned Software

Mobile Trading & Apps

Demo account

Yes

Number of indices

14

Minimum deposit

£ 100

Services & additional benefits

Live
Hotline
E-mail
Economic Calendar
E-Book
Videos

1. Trading Offer

CFD Trading Offer

Tickmill stock trading boasts that their service gives you access to 80+ instruments in CFDs, bonds and Forex, with spreads as low as 0.0 pips and some of the lowest commissions on the market.

Competing healthily with its peers, its Forex service includes well over 62 currency pairs and is a platform that allows all trading strategies. This means you’ll easily be able to speculate currency pairs in terms of value in relation to each other. They also pride themselves on having an average execution speed of around 15 seconds and leverages of up to 1:30 for retail clients and up to 1:500 for professional clients.

14
Indices
Number
3
Raw materials
Number
0
Stocks
Number

They also provide access to 14+ global stock indices and oil, with leverage up to 1:20 for retail clients and 1:100 to professional clients.

Using the MTF platform, Tickmill is also able to trade commodity precious metals such as gold and silver, this time with leverage up to 1:20 for retail clients and up to 1:500 for professional clients.

When it comes to bonds, Tickmill offers access to German bonds and leverages up to 1:5 for retail clients and up to 1:100 for professional clients.

Trader Rating
4/5
Tickmillreview_summary_group_1_image
  • Low spread and competitive low commissions
  • Excellent execution speeds
  • Option to trade precious metals
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Risk warning: Capital can be lost. Terms and conditions apply.
2. Costs

CFD Trading Costs

Tickmill’s site has a comprehensive guide to its costs in which it claims to offer excellent transparency. Users are given guidance on how to calculate spreads and transaction costs, a useful tool for beginners in the trading industry.

Tickmill is proud to be a zero-fee broker site, with all deposits starting from 5,000 USD or equivalent processed by bank wire transfer, a part of the policy.

1:30
Max Lever
1.0
FTSE spread
£ 100
Minimum deposit
Yes
Mini contracts
Tradable

By emailing Tickmill’s customer support team with a bank statement or a confirmation document for the deposit you have transferred, Tickmill will cover any transaction fees up to 100 USD or equivalent within one calendar month after the deposit was made.

In their legal small print, however, Tickmill do reserve the rights to charge maintenance fees if they see a significant lack of trading activity on your account, so this is something to always keep in mind.

Although Tickmill does not charge transfer fees for deposit and withdrawal methods, they do warn that intermediary banks or eWallets may charge transfer fees that are beyond their control. All payment methods have a minimum withdrawal of 25.

Trader Rating
5/5
Tickmillreview_summary_group_2_image
  • Zero-fees on deposits
  • Comprehensive guide to costs on site
  • Rights to charge maintenance fees
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Risk warning: Capital can be lost. Terms and conditions apply.
3. Account

Accounts

In addition to its very inviting demo account, Tickmill offers three different types of full-time accounts: a Classic Account, a Pro Account, and a VIP Account. While the first two options require a minimum deposit of 100 (USD/EUR/GBP/PLN), the VIP Account requires a minimum balance of 50,000 (available in the aforementioned base currencies).

Tickmill also offers the client the opportunity to convert any of the above accounts to The Islamic Account. This means that those who comply with Sharia law do not have to miss out on Tickmill’s services and policies.

While every type of Tickmill brokerage account offers the same execution speed, there are several fundamental differences between the three options. For example, where the Classic Account starts at 1.6 pips, The Pro and VIP accounts both start at 0.0 pips.

The main difference between the accounts, however, is the commission they each have to offer. For the Classic Account, there is no commission. The Pro Account has a commission of two currency units per side per lot in the base currency of the trade instrument. With the VIP Account, there is a commission of one currency unit per side per lot, again in the base currency of the trading instrument.

The FAQ section on the company site provides coherent examples of exactly what the varying commissions between accounts mean, using real-life examples to demonstrate what the client’s benefits would be.

Trader Rating
4.5/5
Tickmillreview_summary_group_3_image
  • Low deposits required for Classic and Pro Accounts
  • Significant deposit required for VIP Account
  • Perk of a demo account with no deposit required
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
4. Platform

CFD Trading Platforms & Mobile Trading

The main key features boasted by Tickmill’s trading platforms include advanced charting and analytical tools, sophisticated order management tools, the availability of expert advisors, and the option to trade from your desktop or mobile device. You are also able to trade instantly with Tickmill’s Web Trader, which does not require any installation.

Their platform is available on Windows, MacOS, Android, iOS and Webtrader, meaning you should not be limited by your personal device if you are looking to access the platform. The app itself is also conveniently free to download and provides clients on a mobile device with nearly all of the features that can be accessed via the desktop platform.

MT4
metatrader
MT5
metatrader
IOS
Android
Broker owned Software

Perhaps unsurprisingly, Tickmill have stated that slippage can occur on their platform during big news announcements. This is dependent on market conditions and volatility, and this slippage could be positive or negative.

Under the Clients Tools feature on Tickmill’s site menu, clients are offered a number of features listed under two headers: Education and Tools. Educational features on offer to the client include Webinars, Seminars, Forex Glossary and Video Tutorials, while Client Tools include Tickmill VPS, Economic Calendar and One-Click Trading.

Trader Rating
5/5
Tickmillreview_summary_group_4_image
  • Free app available on all mobile devices
  • Sophisticated order management tools
  • Same features offered on mobile and desktop
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
5. Usability

Usability of the Website

The website is simple to use. The site’s aesthetic is basic, but this allows the trader to navigate with relative ease. Most of the information required is accessible from Tickmill’s homepage, but there is also the option of menu navigation in the top right corner of the screen.

Instantly, Tickmill’s transparency is on full display. At the top of its homepage at all times, you will be constantly reminded of the company’s risk warning, which explains the complexities of CFDs and the high risk of losing money due to leverage. The usual legal terms and conditions also appear clearly and comprehensively at the very bottom of the site.

The site then offers two options for the client: one link highlighted in green that will take you to create a full-time account, and one link with a purple outline to simply set up a demo account. A standout feature of the site is the fact that it gives you a comprehensive step-by-step guide on how to become a trader.

While scrolling through the site, there is a small purple icon with an image of a headset on, which takes you to Tickmill’s customer support option. This is a very useful tool that saves you having to navigate the site for contact options. Tickmill also provides links to all of their social media accounts, which is a great way of keeping up-to-date with the company’s news.

Trader Rating
4.5/5
Tickmillreview_summary_group_5_image
  • Basic site layout
  • Good links to customer support and social media
  • Transparency of risk
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
6. Support

Customer Support

Tickmill customer service agents are available to contact Monday through to Friday, 7am – 8pm GMT / GMT+1 during daylight saving time. Although this covers a reasonable amount of the working week, it is understandable that some clients need around-the-clock access to customer support, and this is therefore one factor on which Tickmill potentially scores low.

E-Mail
Telephone
Live-Chat
On the spot

Traders can contact the brokers via the usual email and phone methods, and their site also has the useful option of messaging them via a live chat. This tool is quick to use and good if you are seeking a fairly instant back-and-forth conversation with an agent. Tickmill aims to respond to emails within 24 hours on business days, which is reasonable but potentially not the best option if your enquiry is urgent. Tickmill’s hotline is hassle-free and quick to put you through to an agent, although it appears to be difficult to locate just how much the line costs per minute.
Having explored review after review of Tickmill customer support on sites such as Trustpilot and Forex Ratings, the Tickmill agents responsible for customer support queries shape up pretty well. Nevertheless, some more recent responses appear to be somewhat negative, with reviewers starting to doubt the trustworthiness of some aspects of the company.

Trader Rating
4.5/5
Tickmillreview_summary_group_6_image
  • Useful Live Chat tool for quick responses
  • Reliable phone service
  • Not available around the clock
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
7. Payment

Methods of Payment

One of Tickmill’s positive features is that there are no fees on deposits, and any deposits that are submitted are processed instantly. Tickmill pride themselves on providing a trading experience on the client’s own terms and allowing traders to manage funds effectively. Therefore, any withdrawals made are also processed within one working day.

There are several Regulated and Authorised methods of payment. When paying by credit or debit card, Visa or Mastercard, the funding time is instant. The same is true if you pay via Skrill, Neteller, Dotpay, Paysafe, Sofort, or Rapid Transfer (by Skrill).

  • banktransfer
  • creditcard
  • neteller
  • skrill

Tickmill makes it apparent that payment methods are dependent on your residence and that by requesting a withdrawal from your client area, the withdrawal will be in the base currency of your trading account. Any payments made in a currency other than GBP, EUR, PLN or USD are automatically converted to the appropriate currencies, at which point you may see a conversion fee beyond Tickmill’s control.

Depositing funds into your account is done by logging in to your Client Area on the trading platform, a relatively simple process that checks the currency you are working with and allows you to accept Tickmill’s Terms and Conditions before submitting your payment.

Trader Rating
5/5
Tickmillreview_summary_group_7_image
  • No fees on deposits
  • Right to charge maintenance fee for lack of activity
  • Strict currency regulations
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
8. Offers

Additional Offers

As we mentioned earlier, one of Tickmill’s greatest additional offers is the option of signing up to a no-deposit-required demo account. This is a massive perk for traders who are just beginning to trial brokerage accounts.

Like many trading sites, Tickmill stock trading also offers a large range of client tools that can be used for trader research and can help beginner traders to access the skills and guidance of traders with far more experience. These include webinars and seminars, which can be found easily on the company’s site.

E-Mail
Economic calendar
E-Book
Videos
Courses or Seminars
Demo Account

As long as you are not attempting to use company pensions, physical commodities or fixed assets, Tickmill will accept bank statements, SIPS and share certificates in your investment portfolio.

Tickmill’s services are not limited by language barriers, with full access to those speaking English, French, Russian, Italian, German, and Spanish, to name but a few. The option of converting any of the main three accounts to an Islamic account proves that the company does indeed think on a global scale.

One particular feature that makes Tickmill stand out is its use of Myfxbook. This means that clients can access more advanced robot trading options through the auto-trade platform.

Trader Rating
5/5
Tickmillreview_summary_group_8_image
  • Large range of client tools
  • Available in several languages
  • Advanced robot trading options
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
9. Regulation

Regulation & Deposit Protection

Tickmill’s site provides an entire section on Safety of Funds, claiming to provide a safe trading environment by ensuring the protection of client funds.

One method of doing so is via Segregated Accounts with Top-tier Banks, meaning client funds are kept in accounts that are separate from those used by the company and are subject to procedures stipulated by the FCA UK.

FCA
Regulatory Authority
MIFID II
Yes
50000
Dep. Protection

Tickmill is also an official member of FSCS, a scheme intended to cover eligible clients if a fund member is unable to achieve all obligations. Clients are covered up to the value of £85,000.00.

On a case-by-case basis and with the company reserving the right to withdraw the privilege at any given time, Tickmill clients are also provided with Negative Balance Protection. This means that in the case of equity, Tickmill stock trading will set your balance to zero, absorbing the loss so you do not lose more money than your initial deposit.

When it comes to Data Security, Tickmill ensures that they use encryption algorithms of industry standard for data encryption while also maintaining robust systems that routinely back up their own databases.

Trader Rating
5/5
Tickmillreview_summary_group_9_image
  • Benefits of Segregated Accounts
  • Industry standard data encryption
  • Negative Balance Protection provided on a case-by-case basis
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
10. Awards

Awards

Tickmill are often recognised for their leadership and excellence in key areas of the foreign exchange business. Their achievements also show through the publication of their highest monthly trading volume figures in October and November 2018, which were $145.5bn and $136bn respectively.

As previously mentioned, Tickmill is highly regulated. It is fully authorised by the Financial Conduct Authority of the United Kingdom and of Tickmill Europe Ltd, which is authorised and regulated by the Cyprus Securities and Exchange Commission.

It is positive to note that Tickmill has won an inspiring number of high-status awards. In 2019 alone, Tickmill’s awards have included International Business Magazine’s Best CFD Broker Asia, the Forex Awards Most Transparent Broker, the Online Personal Wealth Awards Best Forex CFD Broker and CFI.co Awards Best Forex Execution Broker.

The bottom of their site’s homepage proudly indicates that these awards are not just limited to 2019 alone. They have been achieved consistently over the last few years, including Most Trusted Broker in Europe and Best Forex Trading Conditions back in 2017, among others in 2018.

Trader Rating
5/5
Tickmillreview_summary_group_10_image
  • Thoroughly certified and regulated
  • Achievement of highest monthly trading volume
  • Several awards achieved in 2019 alone
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

Conclusion

Ultimately, what we need to decide is: is Tickmill good? After considering the above factors in our Tickmill brokerage review, the answer is that, yes, Tickmill can be considered good overall.

Standout features of the company include their no-deposit demo account and easy-to-navigate website, which is complete with a very handy Live Chat feature. This means that the client can converse with the broker almost instantly during business hours.

Tickmill’s VIP Account requires a significant deposit of 50.000 but ultimately appears worthwhile, boasting features such as a starting point of 0.0 pips and a commission of 1 currency unit per side per lot.

Customer service and support tends to have generally positive feedback, and the company as a whole seems to be accessible and inclusive to a large number of clients on a global scale.

As with all brokers, however transparent they may appear, what you can take from this review is that you should always be aware of a company’s rights to withdraw from policies such as Negative Balance Protection, apply currency conversion if your currency does not comply with their requirements, or maintenance fees if your account is viewed as being inactive.

Nevertheless, it is not surprising that Tickmill have been able to post evidence of their significant growth through increases in all of their financial metrics. They are indeed a good company with lots to offer both the beginner and experienced trader.

Strengths

  • Great for beginners
  • Advanced tools for experts
  • Free demo-account
  • Excellent VIP Account
  • High speed execution rates

Weaknesses

  • Fees may be applied on currency conversion
  • No significant add-ons to MTF 4 Platform
  • No around-the-clock customer support
Test result
Total
95%
Ratings
26
Broker
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
Tickmill
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

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