Tickmill Review – Multi-awarded, multi-regulated broker
Forex trading is not easy. It is not a secret that two-thirds of the trades will eventually lose their money. Partially, it happens due to the tricky nature of the Forex market as it is extremely volatile and sometimes completely unpredictable. However, mostly, trades lose their financial resources due to a lack of knowledge, expertise, and understanding of significant concepts in trading. One of the crucial concepts in Forex trading is choosing the right Forex broker. The importance of a decent Forex broker cannot be diminished in any financial market or any region in the world.
For that purpose, we provide extensive reviews on both reliable and non-legit brokers in order to supply the necessary information to the traders. Trades can choose to research the brokers themselves, however, it is a highly time-consuming activity that requires a professional attitude and considerable knowledge in trading general. We present the review on Tickmill Forex broker in this article with the focus on major aspects of the brokerage firm, its background history, regulations, trading assets, and various opportunities for Tickmill customers.
Background of the company
First things first, the brokerage firm has experience of over eight years on the Forex market. Tickmill history goes back to 2014 when the company began operating in several regions of the world. There are five branches of the broker operating worldwide united under the international company Tickmill Group. All five branches are regulated within five different jurisdictions with the licenses granted from the corresponding local regulatory authorities. The regulations are the first significant indicators that the broker is indeed legit, which serves as the safety guarantee for the traders.
Usually, when deciding whether to trust the broker or not, we recommend checking the license that the broker holds. Sometimes, brokers will claim that they are regulated and will list several regulatory bodies as their authorization entities. However, when we check within the database of the regulatory bodies, brokers do not appear within the list of the regulated Forex brokers. Fortunately, we could identify that Tickmill Forex broker is indeed regulated within five jurisdictions and the broker holds five different licenses to prove its legitimacy:
- Seychelles Financial Services Authority (FSA) authorizes Tickmill Ltd as a Securities Dealer with license number SD 008
- Financial Conduct Authority in the UK (FCA) regulated Tickmill UK Ltd with FCA register number 717270
- Cyprus Securities and Exchange Commission (CySEC) authorizes Tickmill Europe Ltd as a CIF limited company with the license number 728/15
- Labuan Financial Services Authority (Labuan FSA) regulates Tickmill Asia Ltd with the license number MB/18/0028
- Financial Sector Conduct Authority in South Africa (FSCA) regulates Tickmill South Africa (Pty) Ltd with the license number FSP 49464
The security of the funds and client data with the broker is not sufficient for deciding to trade with the broker. The regulations do not guarantee the excellence of the brokerage services that the company provides, but it simply safeguards clients from any fraudulent activity initiated by the broker. On the other hand, awards and recognitions serve as an indicator that the broker’s services are indeed high-quality and exceeds the market standards. Tickmill Group received various awards and recognitions as an industry leader from some of the most reputable institutions, business magazines, and Forex fairs. In 2021, Tickmill received an award as a #1 Broker for Commissions and Fees from ForexBrokers.com Annual Forex Broker Review. In 2020, the brokerage firm got recognized within five different categories including reliability, education provision, best trading conditions, and experience, as well as the title for the Best Commodities Broker by Rankia Markets Experience Expo. Between 2017 and 2019, broker received more than 10 industry awards.
Some of the awards that Tickmill broker received throughout previous years also include recognitions for best trading conditions. The broker offers spreads from 0.0 pips, however not always. There are several account types that provide minimum spreads starting from zero. Furthermore, the maximum leverage that Tickmill traders can get is 1:500, which is flexible enough in our opinion. The broker has one of the fastest execution speed on the market, as well. The average execution speed of the orders on all account types and for all trading assets is 0.20 seconds.
Trading assets portfolio
Even though Tickmill is mainly a Forex broker, the firm also administers numerous CFD products on its trading platform. The traders can access more than 80 financial instruments within the Tickmill portfolio. The list of the trading assets includes Forex, Stock Indices and Oil, Bonds, and Precious Metals. Obviously, Forex is the dominating market for the broker, as well. All products are provided with 1:500 or 1:100 leverage and spread from zero depending on the account type. Furthermore, there are no limitations to what kind of trading styles or strategies the customers of Tickmill can incorporate. They can go for scalping, heading, EAs, or anything else they enjoy and like.
Within the Forex products portfolio, there are over 60 currency pairs available to trade with Tickmill. The leverage on currency pair trading is 1:500. For Stock Indices and Oil, the leverage can go up to 1:100. Over 15 products are provided within the category of Stock Indices and Oil. In the Precious Metals portfolio, traders can access Gold and Silver crosses with leverage up to 1:500. The four most popular European bonds are presented to the customers in the Bonds trading portfolio. The customers of Tickmill can trade bonds with the leverage of 1:100.
Trading Account Types
The account types at Tickmill Forex broker are very flexible and suit most of the trading styles existing globally. The accounts vary according to deposit and balance requirements, minimum spreads, and conditions. However, all account types come with the maximum leverage allowance of up to 1:500. They also have the fastest execution with an average speed of 0.20 seconds on every trading asset for each account type. Furthermore, all account types allow the option of a swap-free Islamic account. There are in total three account types, whereas all of them grant freedom in choosing any trading style and strategy customers like. Available base currencies for the account types are GBP, EUR, and USD.
Classic Account – min. deposit of 100 USD, no min. balance required, spreads from 1.6 pips, no commission;
Pro Account – min. deposit of 100 USD, no min. balance required, spreads from 0 pips, commission – 2 per side per 100,000 traded
VIP Account – no min. deposit, 50,000 USD min. balance required, spreads from 0 pips, commission – 1 per side per 100,000 traded
Another component when assessing the quality of the broker’s services is the trading platform. It is true, however, that almost every broker provides either MetaTrader 5 or MetaTrader 4 as their primary trading software. On the other hand, it is not enough. Despite the fact that MetaTrader 4 is considered the best Forex trading software, it is a bit complicated. The professionals find it easy to navigate through the software, however, novices might struggle a bit. Therefore, many of the high-quality brokerage firms will offer alternative platforms.
Tickmill Opinion is the same as ours. The broker offers WebTrader, which supports MetaTrader 4. In contrast to MetaTrader 4 original software, which requires downloading and installation, WebTrader can be accessed from any browser with ease. There is no actual trade-off for the simplicity of accessibility of the WebTrader. The security of the platform is on a high level, successfully guarding client data and funds. Furthermore, it has exactly the same features as MetaTrader 4.
The brokers can provide competitive trading conditions, excellent customer support, diversified portfolio, and still not stand out among the competitive world of trading. Mainly, it happens when brokers are reluctant to support rewarding campaigns for their customers as it may come at the broker’s expense. However, we cannot ignore the significance of the promotional programs for the trading experience, especially for the beginner traders who need encouragement more than anyone. That is not the case with Tickmill. The Tickmill rating partially comes from the broker’s extensive promotional portfolio that includes bonuses, contests, rewarding campaigns, and championships.
Tickmill offers a 30 USD welcome bonus that serves as the no deposit bonus for new registering traders. The bonus can be claimed immediately after registering and verifying the trader’s identity. There is no further deposit requirement. Tickmill also provides a Trader of the Month contest where every month the most profitable trader will be announced and rewarded with 1000 USD. The winner is decided according to the individual performance of the trader, the total profit generated along with the sum of the deposits he or she made, and the risk management skills.
The unique campaign devised by the broker is the NFP machine campaign which runs every week. The rules are as follows: the broker announces a single trading instrument at the beginning of NFP week and the traders have 30 minutes to guess the price of the instrument. The participant with an exact hit on the price gets rewarded with 500 USD. If there is no perfect hit, then the closest hit author receives 200 USD. Additionally, IB Global Championship held by the broker provides a chance to get a share from the 65,000 USD cash prize pool. Within the contest, Introducing Brokers have to bring new traders to the Tickmill platform. The more their referrals trade, the more points IBs accumulate.
Final Recap – Tickmill
To quickly go through the main points of our Tickmill Forex broker review, let’s summarize what we have learned about the broker. Tickmill is a multi-awarded and multi-regulated Forex broker operating in many regions worldwide. The broker holds licenses from five different regulatory authorities. It offers a diversified trading portfolio including 80 financial instruments in Forex, Stock Indices, Metals, and Bonds. The spreads are as low as 0.0 pips and the leverage is highly competitive 1:500. Apart from the famous MetaTrader 4 software, the broker supports WebTrader, a user-friendly and easily accessible trading platform.
Additionally, Tickmill provides three different trading account types, where traders can choose to operate without commissions and 1.6 pips spread, or with low commission and zero spreads. There are four different promotional campaigns, including no deposit bonus, Trader of the Month contest, Introducing Brokers Global Championship, and weekly NFP machine campaign. Not to forget about the numerous awards that the broker received, we conclude that Tickmill Forex broker is indeed a highly reliable, transparent, and customer-centric brokerage firm that deserves even more attention than it is getting at this point.