Tickmill Review: How Trusted and Reliable is this Forex Broker


Tickmill was established in 2015 after Armada Markets moved its retail clients to Tickmill’s entity in Seychelles, which is regulated by the Financial Services Authority (FSA). Tickmill then acquired an additional regulatory license in the UK under a new entity to expand its reach.

The Tickmill brand is also the trading name of Tickmill UK Ltd (formerly known as Tmill Ltd), which is regulated in the UK by the Financial Conduct Authority (FCA) with passports throughout the EU under MiFID regulations.

TickMill is an electronic communication network (ECN) and no dealing desk (NDD) broker, which offers trading in diverse financial instruments, including 62 currency pairs, 15 stock indices, WTI, precious metals, and bonds.

Tickmill Review

Many traders shop for a broker to work with and find endless reviews on the web, and not all are genuine. There are lots of websites that specialize in broker reviews and lots of talk about brokers in various forums, social media channels, and groups. While some information comes from a real trading experience of people that have used brokers’ services, some have a hidden agenda of promoting the broker(s). Promoting a forex broker is a legitimate and normal practice, as long as it’s done in a transparent way.

As of today, there are very few websites with trusted brokers’ reviews. One of the most trusted is forexpiecearmy.com, due to its security level which filters fake reviews. Anyway, use your intuition when you read Tickmill reviews. 

Tickmill’s overall rating on the largest portal for broker reviews is good. What do Tickmill’ disgruntled traders complain about?

Alleged spread manipulation is always an issue with online trading operations, as is the apparently unfounded denial of profits from traders. Some of the clients are not happy with how Tickmill deals with abnormal market conditions (low liquidity or high volatility). Others are complaining about the lack of negative balance protection for retail clients. 

Here are just 3 examples:

SCAM ALERT – fake WTI price, wrong price execution​

I am going to describe 2 problems I ran into with Tickmill. My trading account # 3033967.

First and main problem is fake and imaginary WTI CFD price they offer in the moment. Their price currently is at 9.64$ for barrel, while true WTI CFD price is 26$ for barrel, it can be checked with any other broker, or simply by looking at CME futures prices for WTI, all contracts are above 25$ for barrel. Tickmill have applied close only mode on WTI, and since I have 3 long positions I am not able to close my positions with significant profit of 26 000$, and trader can not open new long positions on that absurd, fake, low price they offer because it is only close only mode applied. I would have no problems with their close only mode if they offer true WTI CFD price, instrument I was trading with. Their excuse is that they follow movement of December 2020 futures price, which is also invalid since price for December futures is over 30$ for barrel, and also price movement is completely different. They refuse to pay my winnings after weeks of annoying conversations and invalid arguments they try to provide. I am experienced trader who has account with over 10 brokers, and what they say is completely absurd and not acceptable! Difference in their price from true price is almost 300%, no LP can justify that. There is only one true WTI CFD price and it is between 26$ and 27$ for barrel at the moment I am writing this review.

Second problem I encountered with wrong price execution for trades bigger then 1 lot size. This applies for all FX pairs and Metals. Order is executed on price NOT SHOWN in MT4, but on price worse for client by 1-2 points. This happens every time, for manually opened positions and pending positions. They stole from me on over 500 trades these 1-2 point. It is not slippage, it is wrong price execution! I brought this issue also to them, and gave them chance to refund what they were stealing from me for years, but they refused with no true explanation provided, only fake arguments which has nothing to do with reality. Experienced trader like me can not be fooled or tricked like that.

I am going to continue to fight with them with these two problems and claim my funds via court if necessary if they continue to refuse to pay what they owe me.
Everyone can feel free to contact me directly here on FPA if further details about Tickmill are wanted.

– Deltoid88, Europe, Serbia, May 11, 2020

WTI laverage change from 1:500 to 1:20

Tickmill push us to cut our position by reduce laverage from 1:500 to 1:20
How can we provide 25 times of our previous balance to cover this change?
Are you doing a honest business?
Don’t do this or you are a scam

– AntiScamBroker, Indonesia, Apr 23, 2020

Game changer in between open positions 

I am with tickmill almost 6 years with tickmill. They are good like all other brokers if you are losers. If you are winner then they will change the game in between your open positions. Recently I have opened trades on USOIL with them with big lots. They move down the market where they want even on 11 dollars. My positions are floating with negative balance. Account was swap free but now they changed the game within one week. They are charging heavy swaps with the name of handling charges on over night positions. Mostly brokers shows USOIL prices now on 23 dollars but their charts are showing 11 dollars. What the hell with them? Can you believe such cheats?

– willi2000, Sargodha, Pakistan, Apr 20, 2020

source: https://www.forexpeacearmy.com/forex-reviews/8718/tickmill-forex-brokers?page=1&per-page=10

tickmill reviews
source: forexpeacearmy.com

Is Tickmill Trusted?

Tickmill is considered average-risk, with an overall Trust Score of 81 out of 99 according to forexbrokers.com experts opinion on Tickmill. Tickmill is not publicly traded and does not operate a bank. Tickmill is authorized by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). Tickmill is authorized by the following tier-1 regulator: Financial Conduct Authority (FCA).

Tickmill is almost unknown in Europe or Australia, but they are quite popular in Africa (South Africa, Tanzania, Egypt) and Asia, with Malaysia as their main market followed by Indonesia and Vietnam (source: ahrefs.com). It seems like a broker for small forex traders happy with small costs, but not so prepared to deal with larger clients and orders, especially during abnormal market conditions.

tickmill reviews
source: Ahrefs

Trading Conditions

Account Types

Tickmill offers three accounts. The Classic account is a commission-free account, in which traders only pay the bid/ask spread. The other two accounts, Pro and VIP, are both commission-based and have a per-trade commission added to lower prevailing spreads.

Personal multi-account manager accounts are also available with Tickmill. The MAM program allows professional Money Managers (with a minimum $5,000 deposit at least) to trade on behalf of their clients. A Money Manager can easily execute block trades on all accounts with his single master account. In comparison, with Admiral Markets, Copy Trading is available from $100.

What is more, Islamic accounts are also available to clients who don’t want to earn interest for religious reasons. These accounts are swap-free and Sharia-compliant. 

Spreads & Commissions

TickMill offers floating spreads, which vary by account category. The ones on the commission-free Classic account are above 1.6 pips on EUR/USD, which is not competitive pricing.

As regards ECN accounts (PRO), the broker cites as typical a spread of 0.2 pips on EUR/USD, and a commission of $4 per lot (round trip) applies. So, the average cost of trading per lot for the EUR/USD pair on these accounts is below 1.0 pips, which is a good offer for the industry. 

Meanwhile, active traders are eligible for further discounts, depending on their trading volumes in the VIP account, giving Tickmill competitive all-around pricing.

It is worth noting that Tickmill records typical spread data during normal market conditions (when spreads are narrower).

Minimum Initial Deposit

You may start trading with TickMill at $100, which is an attractive offer, especially when it comes to an FCA-licensed broker.

Tickmill Platforms and Tools

Trading Platforms

Tickmill is a MetaTrader-only broker offering the standard, out-of-the-box experience, for just MT4. Unfortunately, there are no notable add-ons to help Tickmill stand out among the best MetaTrader brokers, and the multi-awarded MetaTrader 5 (MT5) is not available.

MT4 is still one of the best forex trading platforms, although MT5 started to be preferred by most investors and brokerages (see here MT4 vs MT5). It has a user-friendly interface and offers all a trader needs: an advanced charting package, a number of technical forex indicators, an extensive back-testing environment, and a variety of forex trading robots (forex ea)

Since Tickmill is a MetaTrader-only broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.


Tickmill offers several third-party research solutions, including Autochartist, which is popular pattern-recognition software that uses automated technical analysis to make forecasts and generate forex trading signals. Autochartist is available via Tickmill’s web portal and as a platform plugin for MetaTrader.

Trading tools: In addition to the native MQL5 Signals market available in MT4, Tickmill also offers the AutoTrade feature of Myfxbook for social copy-trading. Myfxbook also powers the firm’s economic calendar, an alternative to the top-notch forex factory calendar (see here how to read and trade the forexfactory news).

Also, TickMill offers margin, pip, and currency calculators, as well as VPS hosting, which is useful for algorithmic traders using MT4.


All in all, TickMill’s best feature is its low spreads for active traders. Tickmill is a vanilla MetaTrader broker that offers average to poor customer service and only MT4 with no notable upgrades to enhance the trader experience (like the Supreme Edition add-on). No matter how you slice the data, compared to other top MetaTrader brokers, experts testing found Tickmill fails to stand out.


To trade forex and CFDs, you need a well-regulated broker, where your money is safe, one that features a user-friendly trading platform with ultra-light execution, tight spreads, and fees. Trading with a trusted forex broker is crucial for success in international currency markets.

Here’s the Overall rankings for the best online brokers who participated in our 2021 Broker Review, sorted by Overall ranking.


Is Tickmill a good broker?

Tickmill is considered average-risk. Tickmill is not publicly traded and does not operate a bank. Tickmill is authorized by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust).

What is the minimum deposit for Tickmill?

The minimum deposit for all account types is $100. However, to get a VIP account, you have to reach a balance of minimum $50,000.

Is Tickmill a true ECN broker?

Tickmill (Forex Broker) offers various trading accounts: Mini Account, Standard Account, ECN Account. Although most Forex brokers presents themselves as True ECN brokers, the reality is that only a small percentage of orders are traded in the market. Most are traded in house, depending on how successful a trader is. 

Deposit & Withdrawals
Platforms & Tools
Spread & Commissions
Range of Markets
Customer Support
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Cristian Cochintu is a highly experienced trader, author, and analyst, currently Chief Operation Officer at Investing Magnates. Trading Style Analytical Profile: More Technical, Less Fundamental Time Frame: Long-Term (weeks to months) Type: Position Experience Started trading in Forex in 2004 and expanded to Stocks in 2007 Has worked with Admiral Markets since 2009 starting as a market analyst Has spoken at numerous online seminars, trader expos, and conferences over the years


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