Tickmill is a fledgling broker in the forex market, founded in 2015 in the UK. Although the operating time is quite short, Tickmill is a very reputable broker with FCA and CYSEC certificates.
The outstanding strength of Tickmill is its low spreads, fair competition with top brokers and smooth trading platform.
Because it is a young broker, Tickmill has many limitations: only MT4 platform, minimum deposit and withdrawal amount of 100 USD, slow withdrawal time and Vietnam customer support is not real. good.( broker tickmill)
Advantages
Prestigious certificates: FCA, CYSEC, …
Low spreads: from 0.1 pips with EURUSD
Smooth trading platform, no requote
Defect
The history of operation is quite short: since 2015
Only MT4 platform
High deposit and withdrawal: minimum 100 USD
First I have to say that Tickmill is rated as one of the fastest growing exchanges on the market today. Their website has nearly 1 million visits per month.
After only a very short period of time since its inception in 2015, Tickmill has grown strongly, reaching hundreds of thousands of forex traders from many countries around the world.
In this review, you will be provided with complete information about Tickmill exchange, regulations, account types, deposit and withdrawal methods, etc.
Based on real trading experiences that we have on Tickmill itself, so this review will give you the most fair and accurate views based on a trader’s perspective.(Read more : review icmarkets)
Let’s start
1. About Tickmill . Exchange
Tickmill was founded in 2015, emerging as a young exchange and is gradually building a name for itself in the forex market.
Currently Tickmill has its headquarters in the Seychelles and one in the UK.
Initially, Tickmill was established after Armada Markets decided to turn over its retail clients to them in 2015.
Then, with the goal of expanding its scope of operations, Tickmill added a new sub-brand in the UK with the trade name TMILL UK Ltd.
2. Certificate of activity and insurance for Tickmill customers
It is not easy for so many customers to put their trust in a young broker like Tickmill, in order to do that, Tickmill must always prove that it is a professional, reputable and authoritative broker. The customer’s interests come first.
In addition to the quality of service, the first factor that customers need in a broker is the operating certificates and policies that they have for their clients.(Read more :depositing and withdrawing money)
Let’s see what Tickmill has to offer.
2.1. Tickmill Operation Certificate
Being regulated by the most trusted financial management organizations in the world is always a top factor in assessing the credibility of an exchange, Tickmill has it.
Currently Tickmill operates with a regulated license from the Seychelles and the UK. In there:
• The Tickmill Ltd brand is regulated by the FSA in Seychelles, as a Securities Dealer of the Seychelles Financial Services Authority with license number SD 008.
• In the UK, Tickmill operates under the Tmill UK Limited brand which is authorized and regulated by the Financial Conduct Authority (FCA) with license number 717270.
The UK’s FCA is one of the most reputable financial watchdogs worldwide. FCA-regulated brokers must keep client funds in segregated accounts (the Segregated Account mechanism), separate from the company’s operating funds.
In addition, the broker Vipro Markets operating in Cyprus with CYSEC license joined Tickmill in 2017. Bringing in Tickmill over 500,000 clients per month.(Read more : exness broker)
In Europe, the Tickmill brand operates as Tickmill Europe Ltd and is licensed by various European regulatory bodies as follows:
- German Federal Financial Supervisory Authority – BaFin (Registration number: 146511)
- France Autorité de contrôle Prudentiel et de Résolution – ACPR (Registration number: 75473)
- Italian Commission Nazionale per le Società e la Borsa – CONSOB (Registration number: 4310)
- Comisión Nacional de Mercado de Valores of Spain – CNVM (Registration number: 4082)
- MiFID II is compliant with Investment Services and the Regulated Market Law of 2017 (Law No: 87/2017).
With a list of regulators across Europe, clear in terms of legal procedures, Tickmill has proven its professionalism and seriousness. Show that they deserve to be one of the reputable exchanges and deserve the trust of many traders.
2.2. Tickmill’s Client Insurance Policy
Financial Services Compensation Scheme (FSCS)
Tickmill UK Ltd is a member of the Financial Services Compensation Scheme.
The FSCS is an independent compensation fund, which is the ultimate protection for clients of UK authorized financial services firms, established under the Financial Services and Markets Act 2012. 2000.
FSCS will be responsible for indemnifying Tickmill clients in the event the broker becomes insolvent.
Investor Compensation Fund (ICF)
Tickmill Europe Ltd is a member of the Investor Compensation Fund (ICF). The ICF has been established as an investor compensation fund for CIF clients and its functions are governed by CySEC directive 144-2007-15.
The ICF guarantees Tickmill clients to be compensated for any claims arising in the event that Tickmill fails to perform its obligations.
Tickmill’s insurance scheme
Being regulated by financial authorities such as the FSA, FCA, and CySEC means that Tickmill must ensure compliance with regulations on insurance for its clients.
Tickmill insures liability to its customers and third parties with a civil liability insurance program that includes coverage against errors, fraud and many other risks of loss.
Segregated accounts mechanism
Segregated accounts mechanism ensures the safety of the customer’s account, Tickmill will not be allowed to use the customer’s account for any activities, and it is also proof of customer compensation according to regulations. in the event of Tickmill insolvency.
Client funds are transferred entirely to bank accounts, separate from those used by the company.
Protect Accounts from Negative Balance
Tickmill is one of the brokers that has a policy of protecting client accounts from negative balances, which means that “even in highly volatile market conditions where margin and stoploss are no longer working properly, clients Tickmill will not suffer any loss on negative balance payments.(Read more : what is forex)
The Forex market is always filled with unexpected risks that investors can’t predict, so Tickmill’s use of negative balance protection policy for customers is a great thing and a plus point in the future. eyes of traders around the world.
3. Types of Tickmill trading accounts
Currently, Tickmill floor offers customers 3 main account types, namely: Classic, Pro and Vip.
3.1. Classic account
The Classic account is more suitable for new investors. The minimum deposit is 100$, this is the average deposit. There are no commissions, but spreads start from 1.6 pips on EURUSD, which is quite a spread compared to other brokers.
- Minimum deposit: $100
- Spread: Starting from 1.6 pips
- Commission: No
- Maximum leverage: Up to 1:500
- Instruments: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1s
3.2. Pro account
This is the account that many traders in Vietnam appreciate and is also the most popular of the three account types of Tickmill exchange.
The Pro account is an ECN account with very good spreads, from only 0.0 pips for EUR/USD
- Minimum deposit: $100
- Spread: Starting from 0.0 pips
- Commission: 0.004%
- Maximum leverage: Up to 1:500
- Instruments: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1s
A little more specific about the Commission of Tickmill exchange. Unlike other brokers, Tickmill offers flexible commissions for each currency pair, instead of a hard fix.
As on its homepage, Tickmill says that the commission of the pro account is 2 units per side (opening and closing orders) per lot. That means you will have to pay 4 units (currency) per lot, equivalent to 0.004%.
Example: If you trade 1 lot of EURUSD, you will have to pay 2 EUR for each side (opening and closing the order), which is 4 EUR for 1 lot traded EURUSD on Tickmill.
Tips: With a low commission rate, the PRO account is more ideal for most traders than the Classic and VIP accounts, because of its reasonable spreads, low capital requirements and offering up to 80 products, Includes 62 currency pairs.
3.3. VIP account
For professional traders with large capital who want to maximize the best services, Tickmill offers them VIP accounts. The advantage of this account type is that the transaction fees are very low, but the minimum deposit is $50,000.
- Minimum deposit: $50,000
- Spread: Starting from 0.0 pips
- Commission: 0.002%
- Maximum leverage: Up to 1:500
- Instruments: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1s
In addition, Tickmill also offers individual multi-account management with the MAM program. Managers can easily manage accounts on behalf of their clients.
3.4. Overview table of Tickmill account types
The following is a table of parameters of the 3 account types that I just mentioned above for you to have a clearer overview and assessment of the difference between the account types that Tickmill offers
4. Tickmill . trading platform
Trading platform is one of Tickmill’s weak points because currently Tickmill only offers 2 trading platforms, MetarTrader 4 and Web Trader.
Although for most traders this is more than enough: an MT4 software for trading on a personal computer and a Web Trader for live trading in case you don’t want to download the software. software on or not using your computer.
4.1. MetaTrader 4 (MT4)
MT4 remains the world’s most popular Forex trading platform since 2005 and is preferred by most traders for its user-friendliness and ability to fulfill all the needs of a trader. translations such as: indicator, Expert Advisor (EA) or advanced charting packages.
Some of the advantages of MetaTrader 4 include:
- The tools enable real-time technical analysis.
- Supports multi-timeframe analysis.
- Instant execution and market execution.
- Various types of orders; allows you to choose any trading strategy.
- Ability to create and test your own indicators and strategies thanks to the MQL4 language.
Tips: Currently, TickMill has partnered with MyFXBook to provide clients with advanced automated trading options through the AutoTrade platform.
Note that the Autotrade feature on Myfxbook is only accessible to clients who sign up from Tickmill’s Seychelles. As for customers in the EU, there will be certain restrictions.
This means that Vietnamese traders like us can comfortably use this feature.
4.2. Web Trader Platform
Tickmill Web Trader allows you to use the same as MT4 desktop software, but now you can use it right on your web platform.
The benefits of using the MT4 web trading platform
- Quick and easy access to financial markets from any computer
- The interface is similar to the MT4 platform
- Features one-click trading
- Completely secure – any information transmitted is encrypted
Main Features
- Real-time quotes on Market Watch
- Customizable price chart
- Supports 9 timeframe charts
- There are basic tools used for analysis: horizontal, vertical and trend lines, price channels and Fibonacci lines
5. Products traded on Tickmill
Tickmill is a new exchange, perhaps because of that, Tickmill’s products are not so diverse, compared to other brokers, this is not a point where Tickmill is highly appreciated.
- Forex: Tickmill offers 62 currency pairs including majors, minors and exotics.
- Stock Indices: Tickmill offers 15 major international stock and oil indices: no commissions, no requotes and no pricing.
- Precious Metals: Currently Tickmill allows trading of Gold and Silver against USD.
- Bonds: Tickmill allows users to trade bonds, but currently only German government bonds are traded.
Tickmill has also implemented Bitcoin to US Dollar trading as a CFD, through the BTC/USD pair, but it is only traded on regular trading sessions, i.e. Monday to Friday and is not tradable. on weekends like the underlying crypto markets.
6. Tickmill customer care and support service
Tickmill supports multiple languages including English, Spanish, Russian, Chinese, Indonesian and Vietnamese…
Besides, I also highly recommend Tickmill broker because they offer more than three languages support via email and phone.
However, in some customer support calls that we have tested, according to Sinvest.vn, the support team of Tickmill support is not really professional when answering each question that we ask. .
7. Deposit and withdrawal methods of Tickmill exchange
7.1. Recharge
Tickmill offers 6 different deposit ports for its customers, including the most popular ones such as Credit, Debit Card, Neteller, Skrill and especially Ngan Luong payment gateway.
Most of them process your deposit instantly, 24/7 and of course with no fees.
7.2. Withdraw money
As well as IC Markets, I encourage you to use Ngan Luong payment gateway because you will only have to bear the lowest cost compared to other forms of payment, it’s great that Tickmill also offers this payment gateway.
Usually it is only about 0.5% for the exchange rate difference between deposit and withdrawal (calculated at the rate of Vietnamese banks).
Tickmill says that your withdrawals of any kind will be done within 24 hours, with absolutely no fees.
And in fact, during the entire process of trading on Tickmill, I have never had any problems with deposits and withdrawals.
8. Conclusion about Tickmill
Tickmill is a young broker but with their efforts they have achieved a very respectable growth rate and are chosen by traders around the world.
If you have any questions, don’t hesitate. We are always happy to listen and answer your questions.
Let us know how you feel by commenting below, nothing is better than bringing information and knowledge to everyone and being recognized by everyone. It was a great source of encouragement for us.
