Home / Best Forex Brokers in Malaysia / Tickmill Broker Review

Tickmill Broker Review

FX Scouts By Jeffrey Cammack Updated: February 9, 2020
Overall Rating
4.54 / 5
Min. DepositUSD 100
Max. Leverage500:1
Min. Spread0.0 pips
RegulatorsCySEC,FCA,FSA-Seychelles
Regulator Origin CySEC FCA FSA-Seychelles
Broker TypeSTP

Summary

Tickmill offers very low spreads and commission, a 30 USD welcome bonus for all new traders, fast market execution on the MT4 platform and has an excellent reputation in the industry.

All accounts can be converted to Islamic accounts and all clients have access to free AutoChartist and Copy Trading (via Myfxbook) - great tools for traders of all experience levels. A regular winner of trade execution and trading conditions awards, Tickmill has the reputation, and the performance, traders should look for in a broker.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Good
Bonuses $30 Welcome Bonus
Our Review Process

Trading Conditions

Minimum DepositUSD 100
Base currenciesUSD, EUR, GBP, PLN
Number of FX Pairs60+
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD0.2
GBP / USD0.9
USD / JPY0.6

Company Details

Company nameTickmill UK Ltd
Founded2014
Website Visit Website
TypeSTP
RegulatorsCySEC,FCA,FSA-Seychelles
Office locations Eden Island, Mahe

Deposit & Withdrawal Methods

Supported Platforms for Tickmill

Is Tickmill safe?

Founded in 2014 by the former head of brokerage for Admiral Markets, Tickmill is a relatively young broker, but it has expanded very quickly to become one of the more popular brokers in many global markets. 

The company is split into three divisions:

  • Tickmill Ltd, which is regulated by the Seychelles FSA (license: SD 008)
  • Tickmill UK Ltd, which has been regulated by the UK FCA (license: 717270) since 2016
  • Tickmill Europe Ltd, which has been regulated by CySEC (license: 278/15) since 2015

Tickmill’s quality and popularity amongst traders have been noticed and rewarded by its industry peers; in recent years the company has won awards for Best CFD Broker Asia 2019 (International Business Magazine), Best Forex Execution Broker 2018 (UK Forex Awards) and Best Forex Trading Conditions 2017 (UK Forex Awards).

More importantly for potential customers, Tickmill were recipients of the Most Trusted Broker in Europe 2017 (Global Brands Magazine) for its focus on competitive pricing and maintaining a fair and transparent trading environment.

Trading Conditions

All accounts at Tickmill offer STP market executed trades in an average of 0.15 seconds on 62 currency pairs; in addition to Forex, other tradeable assets include CFDs, stock indices, metals, and bonds. All trades at Tickmill are completed using a fully automated No Dealing Desk (NDD) execution model, providing liquidity from global, top-tier banks and hedge funds with no requotes. 

The margin call and stop-out percentage differ for the retail and professional versions of the accounts, the margin call to stop-out for retail clients is 100% to 50%, and professional is 100% to 30% – but all accounts benefit from having up to 1:500 leverage.

Clients can choose from three wallet currencies – USD, EUR and GBP.

Account Types

Tickmill offers three different live accounts in addition to the demo account and all accounts are available with a swap-free Islamic option. The main differentiating factor between the accounts is that the Pro and VIP Accounts are commission-based accounts with much tighter spreads, whereas the Classic Account is commission-free, but the broker’s fee is incorporated into a wider spread.

Demo Account – A demo account is available for new traders and will remain open until there is no login for seven consecutive days and you can change the balance on your demo account whenever you want by writing to the Tickmill support team. You can keep your demo account open once you open a live account by installing your MT4 live account and MT4 demo account in different folders on your computer.

Classic Account – This entry-level account requires a minimum deposit of 100 USD, and, like all Tickmill accounts, offers a Swap-free Islamic account option. Spreads start at 1.6 pips and maximum leverage is 1:500 – note that this is the only account that uses wider spreads instead of charging a commission on each trade.

 

Pro Account – This account, also with a Swap-free Islamic option, requires a 100 USD minimum deposit and is the entry-level account for more advanced traders. Tighter spreads are available in exchange for a commission of 2 USD per side per lot (100,000) traded, so 4 USD round turn. This commission pricing and structure is an industry-standard and is on the cheaper end of what other STP brokers offer clients for the same services.

VIP Account – This account, with the same swap-free Islamic option, is for high volume professional traders and requires a 50,000 USD minimum balance. The commission is reduced to 1 USD per side per lot traded, making trading even more profitable. This is a very competitive professional account which offers excellent trading conditions and one of the lowest commissions in the world.

Spreads and Commissions

As explained above, spreads and commission change between accounts:

  • Classic Account: The minimum spread is 1.6 pips with no commission charged.
  • Pro Account: The minimum spread is 0.0 pips with a commission of 2 USD per side per standard lot traded
  • VIP Account: The minimum spread is 0.0 pips with a commission of 1 USD per side per standard lot traded

Deposit and Withdrawal Fees

Tickmill takes deposits through a variety of global and local methods, under a Zero Fees Policy. They include:

  • Visa/Mastercard
  • Bank transfer
  • Neteller/Skrill
  • STICPAY
  • fasapay
  • UnionPay
  • NganLuong.vn
  • QIWI
  • WebMoney

The Zero Fees policy means that Tickmill will reimburse traders for any fees charged up to 100 USD for any deposit over 5000 USD. If you were charged, submit a copy of the bank statement showing the charge, and the amount will be credited. 

Tickmill for Beginners

Tickmill does not have a traditional Forex trading course, but it does hold frequent webinars in a range of languages and hosts seminars all over the world for traders of all experience levels. It has also published a detailed ebook which new traders will find useful and maintains a video library of tutorials, again in a number of languages.

Additionally, while the analysis blog and TradingView analysis tools do not explain the basics of trading, they do offer valuable learning experiences for traders – beginners will also find the weekly market outlook helpful when thinking about how to develop a trading strategy.

Educational Material

For new traders, Tickmill’s main resource is its ebook, but the beginners will also find the webinars and seminars of great benefit.

The 46-page ebook, titled The Majors – Insights & Strategies, is well presented and will be a viable trading course replacement for those who enjoy reading. The ebook covers subjects such as the Forex Trading Basics, How Forex Trading Works, the Major Currency Pairs, common Trading Strategies and the methodology behind Forex analysis. The ebook ends with a selection of tips designed to give new traders more confidence in their decision-making.

Webinars are run in four languages (English, Arabic, Italian and German), and all previous webinars are available in an archive. The webinar subjects vary from basic concepts like News Trading Strategies to more complex Technical Analysis and Chart Theories.

Tickmill also has a schedule of free seminars around the world, many of which will be helpful for more experienced traders – these are also presented in a number of languages, depending on location. 

The education section is rounded off by a decent glossary of Forex terms that will be a useful reference for new traders.

Analysis Material

The Tickmill research team runs a regular blog which covers topics that relate to both fundamental and technical analysis. Research often covers different currency pairs and encourages traders to learn about market-moving events outside of conventional news sources.

The blog is open to all readers and Tickmill allows traders to contact the author with questions about their article. This is unusual for broker analysts, who typically shy away from direct contact with traders, especially when it comes to discussing specific investments.

Tickmill is also active on their TradingView Pro account where analysts are continually marking up charts. Even if traders are not going to take advantage of these trading opportunities, they are a great way to learn technical analysis from the pros.

Trading Platforms

Tickmill supports MetaTrader4 (MT4) and the associated web and mobile applications. 

MT4 is the industry leader and the most common trading platform for Forex CFD traders even though its successor, MetaTrader 5, has been available for some time. MetaTrader 4 has been the industry standard for CFD trading since 2005 and most brokers will still support it.

The advantages of using MT4 are numerous but most centre around the community support and the number of users that the platform boasts. Support is available for MT4 from Tickmill customer support and you will also find a wealth of guidance online.

The main advantages of MT4 include:

  • The MT4 community is vast, as is the amount of the text and video resources to support both new and experienced traders.
  • The MT4 EA (Expert Advisor) community of developers is very active, so renting or buying algorithmic trading software is very easy.
  • MT4 has very low system requirements, so a new device or computer is not necessary to get started.

MetaTrader4 (MT4) is also available on IOS, Android and Windows mobile phone and tablets. The app will connect to the same account as the desktop software, keeping the trading experience synchronised, and traders mobile.

Trading Tools

Tickmill also provides a number of useful trading tools.

AutoChartist

AutoChartist is a third-party automated chart analysis tool which scans the markets for volatility and notifies traders of relevant trading opportunities. It integrates very well into MT4, with information available from inside the chart view without detracting from the other important aspects of the platform. Autochartist is a common technical analysis tool among traders, so training videos are easy to find online and new traders will be able to start using it almost immediately. Tickmill offers AutoChartist free of charge to all live accounts and the demo account on a delay of five candlesticks.

Myfxbook

Another common third-party trading tool available through Tickmill is the Myfxbook AutoTrader – a cross-broker social trading platform that allows new traders to follow and copy more experienced, successful, traders without the need for additional software. As an investor, you are able to look at the performance of a variety of trading systems that have been created by other successful traders. You’re given the choice between a diverse range of trader systems and can choose a system to follow based on your own trading style.

Channel Down on US Dollar South African Rand

One Click Trading

The One Click Trading MT4 Expert Advisor (EA) is designed to make common trading mechanisms more accessible, which facilitates trading and removes unnecessary navigation between windows and charts. This EA does not overly simplify MT4, but it does make trading on the platform less complicated.

VPS Service

Tickmill VPS has partnered with BeeksFX to provide a discounted VPS service to clients. As one of the largest Forex VPS providers, BeeksFX gives users access to very low latency networks, where expert advisors can still be easily used. 

Tickmill clients are entitled to the following exclusive benefits with BeeksFX:

  • 20% discount on all packages.
  • Quick setup and a 24/7 live chat and email support.
  • Negligible latency due to VPS servers’ adjacent location to Tickmill.
  • 100% uptime guarantee.
  • No shared resources, and increased control.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Tickmill offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Tickmill Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Tickmill would like you to know that: Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment. Please ensure you fully understand the risks and take appropriate care to manage your risk.

Overview

Tickmill is an award-winning and trustworthy non-dealing desk broker with a strong focus on transparency, quality and fast execution. With a good education section, additional premium tools offered to traders for no extra cost, and some of the best trading conditions in the world, Tickmill should be a tempting choice for all traders considering a new broker.

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.54 / 5 4.46 / 5 4.09 / 5
Minimum DepositUSD 100USD 200USD 100
Regulation
CySEC CySEC
FCA FCA
FSA-Seychelles FSA-Seychelles
CySEC CySEC
ASIC ASIC
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker TypeSTPECNMarket Maker
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, Bonds, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFs
Forex Pairs60+6050+
Crypto Pairs11018
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 4 / 5
Trading Conditions 5 / 5 4.5 / 5 4.5 / 5
Trading Platforms 4 / 5 5 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4 / 5 4.5 / 5
Education & Research 4.5 / 5 3 / 5 3 / 5
Assets Available 4.5 / 5 4.5 / 5 4.5 / 5
Customer Service 4 / 5 4.5 / 5 4 / 5
% Lose with this broker 73% of retail investor accounts lose money when trading CFDs with this provider N/A 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage500:130:1400:1
Spread0.0 pips0.1 pips0.9 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Classic (Standard)
  • Pro (Standard)
  • VIP (Vip)
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
Swap Free Yes Yes Yes
Trading Platforms MT4 MT4, MT5, cTrader MT4
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, SticPay, Unionpay, Fasapay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer
Trading Commission 7 USD / lot - True ECN account None
Clear all brokers

Tickmill

Visit Website

IC Markets

Visit Website

AvaTrade

Visit Website
Overall Rating 4.54 / 5 4.46 / 5 4.09 / 5
Minimum DepositUSD 100USD 200USD 100
Regulation
CySEC CySEC
FCA FCA
FSA-Seychelles FSA-Seychelles
CySEC CySEC
ASIC ASIC
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker TypeSTPECNMarket Maker
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, Bonds, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFs
Forex Pairs60+6050+
Crypto Pairs11018
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 4 / 5
Trading Conditions 5 / 5 4.5 / 5 4.5 / 5
Trading Platforms 4 / 5 5 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4 / 5 4.5 / 5
Education & Research 4.5 / 5 3 / 5 3 / 5
Assets Available 4.5 / 5 4.5 / 5 4.5 / 5
Customer Service 4 / 5 4.5 / 5 4 / 5
% Lose with this broker 73% of retail investor accounts lose money when trading CFDs with this provider N/A 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage500:130:1400:1
Spread0.0 pips0.1 pips0.9 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Classic (Standard)
  • Pro (Standard)
  • VIP (Vip)
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
Swap Free Yes Yes Yes
Trading Platforms MT4 MT4, MT5, cTrader MT4
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, SticPay, Unionpay, Fasapay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer
Trading Commission 7 USD / lot - True ECN account None

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Sign Up

Most retail CFD accounts lose money. Your capital is at risk.

>