Tickmill is a trading name of Tickmill UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA) of the United Kingdom, and of Tickmill Ltd, which is regulated by the Seychelles Financial Services Authority (FSA).
Founded in 2015, Tickmill has emerged as an up-and-coming MetaTrader broker. In addition to Forex, Tickmill offers traders CFDs on Bonds, Energy, Indexes, Metals and Cryptocurrencies.
Tickmill offers three accounts. The Classic account is a commission-free account, in which traders just 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.
While the VIP account requires a minimum balance of $50,000 for traders to access low commissions of $1.6 per standard lot (100k units) or $3.2 per Round-Turn (RT), the PRO account has similar pricing with an RT commission of just $4 per standard lot, and can be established with as little as $25.
When traders open an account with Tickmill, they can choose the firm’s entity regulated in the UK or its offshore entity regulated in Seychelles, or even the group’s new brand, Vipro Markets. The main difference between these entities is each country’s regulations governing the client account agreement. The spreads and trading costs are much the same between Tickmill brands, although Vipro Markets may differ (note: we did not assess Vipro Markets during this review).
It’s also worth noting that the Autotrade feature available from Myfxbook is only accessible from Tickmill’s Seychelles entity, and EU-based clients are restricted to only open an account with the UK entity (therefore, Myfxbook is not available to Tickmill’s EU clients).