Tickmill Review – Are They a Scam?

Tickmill Overview

Founded2014
PlatformMetaTrader 4, Web Trader
Minimum account size$25
Minimum lot size0.01
Tradable assets80+
Maximum margin1:500
Spread on EUR/USD0 pips
Payment methodsBank Transfer, Credit Cards, Skrill, Neteller, fasapay, China UnionPay, dotpay
Demo accountYes
Accepts Indonesian tradersYes
RegulatedFCA (UK), FSA (Seychelles)
SupportEmail, Phone, Live Chat
Websitewww.tickmill.com/id

 

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Pros

  • Fast execution
  • Spreads from 0 pips
  • Various trading tools
  • Special contests and promotions

Cons

  • Access to markets depends on account type

 
Tickmill is an internationally regulated broker that was founded in 2014. They advertise their services to offer “supreme trading conditions” but are they able to live up to this promise? Continue reading our detailed review to find out.

Platform

They have two major platform offerings – the industry standard and fully customizable MetaTrader 4 and the web-based Web Trader which is easily accessible on almost any web browser. With these platforms, you can trade using desktops, tablet or even on your smartphone. With these flexible options, we are giving them a Platform score of 10/10.

Design

The designs for both platforms were very basic and easy to understand. In terms of speed, they load completely fast and don’t have any annoying splash screens so you can start trading right away. This warrants a Design score of 5/5.

Minimum Deposit

There are three types of accounts offered. The Classic and Pro requires a minimum deposit of $25 while the VIP account requires $50,000. Based on our grading system, they notched a Minimum Deposit score of 5/5.

Minimum Lot Size

Across all account types, the allowed minimum lot size is 0.01 which is basically the industry standard. This warrants a Minimum Trade Score of 4/5.

Tradable Assets

Over 80 instruments can be traded on their platforms and this includes forex, CFDs, precious metals and bonds. While it may be a bit limited compared to other brokerages, the available instruments are mostly the ones that are preferred by most traders. This earns a Tradable assets score of 3/5.

Payouts

The Classic account has spreads from 1.6 pips while the Pro and VIP accounts have much more lower offerings at 0 pips for major currency pairs like the EUR/USD. This warrants a Payouts score of 10/10.

Withdrawal Time

It will only take 1 working day to process a withdrawal request with Tickmill and this is applicable for almost all the banking methods that they support and the good news is that they don’t impose feeds on withdrawals. With such speed, they definitely deserve a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

Bank Transfer, credit cards, Skrill, Neteller, fasapay, China UnionPay and dotpay are among the payment methods that they support. Basically, they cover the most common payment systems which is why we are granting them a Deposit and Withdrawal Methods score of 5/5.

Customer Support

If you have questions, it would be better to check the FAQ section first as this already has most of the answers. Otherwise, you can get in touch with the client support team via phone, email or live chat. On our tests, it only took just a few seconds to get one of their agents on the line and they were very accommodating in answering all of our queries and it’s the reason we are giving them a a Support score of 13/15.

Quoting Accuracy

They advertise that traders won’t experience any requotes on their platforms and this was proven to be true based on our exhaustive tests. The execution speed was a fraction of a second and the market prices were in real time. Such technology deserves a Quote Accuracy Score of 10/10.

Reputation

This investment company is currently regulated by the Financial Conduct Authority in the UK and the Financial Services Authority (FSA) in Seychelles. This is an advantage because it means that they have passed the stringent requirements to get a license from these regulators. But aside from this, our extensive profiling of this brokerage revealed that they have a number of good testimonials from Indonesia where they have a number of clients. Considering all of these information that we’ve gathered, we are rating them with a Reputation score of 15/20.

Conclusion

Tickmill provided an environment with supreme trading conditions. You can invest on a range of high-end instruments and enjoy extremely low market spreads and high speed execution. All of these perks plus the the fact that they are regulated and award-winning gives you all the security and peace of mind that you need as a trader.

Final Score: 90/100

 
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