- Low spreads starting from 0.0 pips on some account types.
- Fast execution with no dealing desk.
- FCA-regulated for added security.
84.97% of retail CFD accounts lose money
Tickmill Broker Review 2024
Investing Options:
Products & markets:
Deposits & withdrawals:
Fees & costs:
Platforms & usability:
Safety & reliability:
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In This Guide
Tickmill Review 2024: Is This Broker Legit or a Scam?
Tickmill is a well-known forex and CFD broker that has built a reputation for offering low spreads, fast execution, and access to MetaTrader platforms. With its FCA regulation and support for multiple account types, Tickmill attracts both beginner and advanced traders. However, the broker is not without its downsides, with some users reporting concerns over withdrawal processes and customer support.
This review delves into Tickmill’s key features, potential drawbacks, and whether it’s the right choice for your trading needs.
Tickmill Review 2024
Tickmill is a global broker offering access to forex, commodities, indices, and cryptocurrencies. The broker is particularly appealing to forex traders due to its low spreads and fast execution speeds. Tickmill provides traders with a choice of three main account types—Pro, Classic, and VIP—each offering different spreads and trading conditions.
Key Features:
- Low spreads starting from 0.0 pips on some account types.
- Fast execution with no dealing desk.
- Access to MetaTrader 4 and MetaTrader 5 platforms.
- FCA-regulated for added security.
- Educational resources for beginner traders.
Is Tickmill Legit?
Tickmill is a fully regulated broker, authorized by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the Seychelles Financial Services Authority. This ensures that Tickmill operates under strict guidelines, offering some level of protection for client funds. Additionally, Tickmill provides segregated accounts for client funds, enhancing its credibility.
Regulatory Bodies:
- FCA (Financial Conduct Authority): UK-based regulatory body known for strict guidelines.
- CySEC: Regulates Tickmill‘s European operations.
- Seychelles FSA: Ensures compliance for Tickmill’s global operations.
Tickmill Scam Concerns
Despite its regulation, some traders have raised concerns about Tickmill, particularly around withdrawal delays and customer support. While these reports are relatively few compared to the overall positive feedback, potential users should be aware of these issues and carefully read the broker’s terms and conditions regarding fees and withdrawals.
Common Scam Indicators:
- Withdrawal delays: Some users have experienced longer processing times for withdrawals.
- Customer support issues: A few traders have reported slow responses from Tickmill’s support team.
- Hidden fees: While Tickmill advertises low spreads, users should review any additional fees carefully.
Tickmill Trading Platform Review
Tickmill offers access to both MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms in the world. These platforms provide users with advanced charting tools, automated trading options, and the ability to trade a wide variety of assets.
Available Platforms:
- MetaTrader 4: Ideal for forex traders, with advanced charting capabilities and a range of indicators.
- MetaTrader 5: The upgraded version of MT4, offering additional asset classes and order types.
- Web-based trading: Tickmill also provides a web-based platform for those who prefer not to download software.
Tickmill Withdrawal Process
While Tickmill offers a variety of deposit and withdrawal methods, including bank transfers, credit cards, and e-wallets, some users have experienced delays in receiving their funds. On average, withdrawals are processed within 1-2 business days, but delays can occur due to verification processes or issues with payment providers.
Common Issues:
- Delayed withdrawals: Some traders report waiting longer than expected for their withdrawals.
- Verification delays: Additional verification may be required for larger withdrawal amounts, which can cause delays.
- Withdrawal fees: Certain payment methods may incur fees, so traders should review the terms carefully.
Tickmill Fees and Commissions
Tickmill is known for its low fees, especially in its Pro and VIP accounts. The broker offers raw spreads starting from 0.0 pips, with a small commission per trade. However, traders using the Classic account may face slightly wider spreads, which could increase costs for frequent traders.
Fee Structure:
- Pro Account: Raw spreads with a $2 commission per side per lot.
- Classic Account: No commission, but spreads start from 1.6 pips.
- VIP Account: Lower spreads and reduced commissions for high-volume traders.
- No inactivity fees: Unlike many brokers, Tickmill does not charge inactivity fees.
Tickmill Account Types
Tickmill offers a range of account types to suit different trading styles and experience levels. Whether you are a beginner looking for simple trading conditions or an advanced trader seeking low spreads, Tickmill has an option for you.
Account Options:
- Pro Account: Offers the lowest spreads, ideal for experienced traders.
- Classic Account: No commission, but with higher spreads.
- VIP Account: Designed for high-volume traders, offering the best trading conditions.
Tickmill Spreads and Leverage
Tickmill offers competitive spreads across all account types, with the Pro Account featuring spreads starting from 0.0 pips. Leverage is offered up to 1:500 for forex trading, which can significantly amplify both gains and losses.
Spread and Leverage Details:
- Forex spreads: Starting from 0.0 pips on the Pro Account.
- Leverage: Up to 1:500 for professional traders, but reduced leverage for retail clients in regulated jurisdictions.
Tickmill for Beginners
For beginner traders, Tickmill offers a range of educational tools, including webinars, video tutorials, and a trading glossary. The broker’s demo account is also available, allowing new traders to practice trading without risking real money. However, beginner traders should be cautious of the high leverage options, which can lead to significant losses if not managed carefully.
FAQs
Yes, Tickmill is regulated by multiple financial authorities, including the FCA in the UK and CySEC in Europe.
Withdrawals are typically processed within 1-2 business days, but delays may occur due to verification requirements.
The minimum deposit for Tickmill is $100, making it accessible to most traders.
No, Tickmill does not charge inactivity fees, which is a significant advantage compared to many other brokers.
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