03 Jun 2021

admin

Overall score: 90

Official Site

Available in Colombia?

Yes

Average Spread for EUR/USD

0.53 pips

Founded in

2014

Maximum leverage

1:500

Regulation

CySEC, FCA, FSA

Platforms

MetaTrader 4, MetaTrader 4 Web

Minimum deposit

100 USD

Instruments

forex, stock indexes, oil, precious metals, crypto

Tickmill is a broker founded in 2014 that offers trading services in the following areas Forex and CFD tradings on indices, commodities and bonds. The company has a presence in almost 200 territories around the world and has a community of about 150,000 traders.

Tickmill enjoys a strong presence in ColombiaTickmill has organized Forex seminars in Bogota and Medellin, and has implemented a platform compatible with our market. Being Colombians, we put Tickmill to the test to find out what this trading platform offers in our country.

Reviews of Tickmill on the Internet

We explore different trading communities such as Forex Peace Army and ForexFactory to discover Tickmill's reviews, and we found the following:

Positive

  •  Many people congratulate Tickmill for being regulated by the UK FCA, one of the leading regulatory authorities in the financial industry.
  • The community also likes the low spreads of this company. That way, they can save on trading costs.
  • There are also users who applaud the speed and ease of account top-ups and withdrawals.

Negatives

  •  One of the biggest complaints about Tickmill is that it has only one trading platform: MetaTrader 4.
  • There are also users who complain about differences in market conditions between demo and real accounts.

Tickmill's reviews are largely positive. Some of its most appreciated features are its regulation and low spreads.

Is Tickmill reliable? Licenses and security

Tickmill UK LTD

We can confirm that Tickmill is reliable and safe. After researching the licensing of this trading platform, we found that in Colombia, the regulations of the FCA of the United Kingdom and the Seychelles FSAtwo highly recognized entities.

In addition to these authorities, the company has licenses in Germany, France, Italy, Spain, South Africa and Malaysia.

Tickmill is also included in the Financial Services Compensation Scheme (FSCS) and the Investor Compensation Fund (ICF). These are compensation funds which can pay you up to GBP 85,000 if you have serious problems with the platform.

It is worth mentioning that Tickmill, being regulated in Europe, is obliged to comply with several safety standards. Among these standards are to respect the MiFID II directives and keep your funds in segregated accounts.

Considering the above, you can rest assured that this is a serious company that has an obligation to protect you and your money.

Tickmill is a reliable company that is licensed in different jurisdictions and is obliged to take care of you and your capital.

How to open a Tickmill account from Colombia (8 steps)

Follow these steps to create your Tickmill account from Colombia. The process takes about 5 minutes:

  1.  Go to the official Tickmill website.
  2. Click the "Open account" button.
  3. In the regulation section you can choose between FCA and FSA. Select "FSA".
  4. In the trading platform menu select "Forex and CFDs - MT4 Platform".
  5. Fill in the form. You only need basic information, such as your name and phone number.
  6. Continue filling out the form. Now, you will need to enter your address and ID, and complete a KYC (know your customer) questionnaire that is required by law. You can answer truthfully.
  7. Click on "Open an account".
  8. The broker will send you a verification email. Look for the message in your inbox and click "Validate email".

You will then have your Tickmill account, however, before you can use it, you will need to send documents to check your identity (such as a photo of your ID) and residence (like a utility bill).

This process is mandatory for all legal brokers and, in fact, a sign that you are dealing with a professional trading platform.

Tickmill Account Types

At Tickmill you can choose between three types of trading accounts, depending on your initial capital, skill level and financial goals:

Classic Pro VIP
Minimum deposit 100 USD 100 USD 50,000 USD
Spreads from 1.6 pips 0 pips 0 pips
Commissions N/A 4 USD per 100,000 USD traded (buy and sell). 2 USD per 100,000 USD traded (buy and sell).
Leverage 1:500 1:500 1:500
Recommended for Beginners, traders low capital Traders experienced Traders institutional and investment funds

All of these accounts are available at Demo versionwhich does not ask for any deposit. In demo mode, you don't have to deposit anything or complete the account verification.

Classic

The classic account has variable spreads from 1.6 pipsalthough it does not charge any commission. It is worth mentioning that you can use a maximum leverage of 1:500 and the minimum order size is 0.01 lots. To access the classic account, you need to deposit at least 100 USD.

The classic account is of type STP/NDDso you can expect fast executions and no requotes. In addition, you can apply any type of trading strategy (including scalping and hedging).

Because of its execution model and cost structure (with spreads and no commissions), the classic account is suitable if you are beginner or you do not plan to manage considerable capital.

Pro

The Pro account requires a minimum deposit of 100 USD and has spreads starting from 0 pips. However, you have to pay a 4 USD commission for every 100,000 USD traded (buying and selling).

As in the classic account, you can use a leverage of up to 1:500 and open orders with a minimum volume of 0.01 lots. In addition, you can use any trading strategy you prefer.

Since this account has commissions in exchange for reduced spreads, we recommend using it only if you are experienced.

VIP

The VIP account is aimed at institutional traders or large funds, since it requires a 50,000 USD minimum balance. In return, this account offers spreads from 0 pips with a commission of just 2 USD per 100,000 USD traded (buy and sell).

The VIP account also has execution STP/NDDso orders are filled in fractions of a second. In addition, you can apply leverage up to 1:500.

If you are a beginner or plan to manage a modest capital (< 1000 USD), we suggest you open a Classic account.

Trading platform

MetaTrader4

Tickmill has only one trading platform: MetaTrader 4. While we regret the absence of other options, we believe that this software provides what is needed to trade the markets efficiently.

MetaTrader 4 is a platform developed by MetaQuotes that has become the "gold standard". Among its main advantages are its high level of customization and additional services, such as signs and expert advisors.

Another great advantage of this software is its large community. That means that you can find many more indicators, resources and manuals than with other programs. If you are just starting out in the markets, MetaTrader 4 may seem too "heavy".

However, we recommend you not to get discouraged and try it thoroughly. After all, it is one of the best software to operate that exist.

This trading platform is available for:

  • Windows.
  • Mac.
  • Android.
  • iOS.
  • Web browser.

Tickmill Trading Instruments

At Tickmill you can trade on Forex and CFDs (contracts for difference) on various instruments. However, we would like to warn you right now that this platform does not offer trading of stocks or cryptocurrencies.

The complete list of instruments includes:

Forex

You can trade with more than 60 currency pairs ranging from majors such as EUR/USD and USD/JPY, to exotic crosses with Danish kroner, Hungarian forints and Polish zlotys.

The average spread for the EUR/USD is 0.1 pips.

Indexes

On this company's platform you can find the most important stock market indices, such as DAX 30, Nikkei 225, S&P 500 and the Dow Jones.

The average spread for trading CFDs on the S&P 500 is 0.39 pips.

Commodities

Tickmill offers oil trading via futures on the two most important benchmarks: Brent and WTI.

A great advantage of this trading platform is its low spreads, as the average spread for Brent is just 0.04 pips.

In addition, it has crossings between the gold and silverand the US dollar. In this case, the average spread is 0.09 and 0.021 pips, respectively.

Treasury Bonds

At Tickmill you can also trade with German treasury bonds. In this case, spreads start from as low as 0.018 pips.

Tickmill Mobile App

Tickmill has a good list of traditional instruments, such as FX, indices and oil. However, it does not offer stocks or cryptocurrencies.

Tickmill payment methods for Colombia

You can deposit and withdraw Tickmill funds using different payment options available in our country:

Payment method International transfer Credit cards Skrill NETELLER
Minimum deposit 100 USD 100 USD 100 USD 100 USD
Processing time for deposits Instant Instant Instant Instant
Processing Time for Withdrawals Between 1 and 7 working days Between 1 and 8 working days Instant Instant
Platform fees N/A N/A N/A N/A
Comments Colombian banks charge expensive fees. Fast and convenient option for depositing. You can top up Skrill in cash in Colombia. You can top up NETELLER with cash in Colombia.

International transfer

Tickmill accepts bank transfers in USD, EUR and GBP.

Recharges by this means are usually instantaneous, although they may occur delays if the bank carries out checks (which is quite often).

Another disadvantage of this option is the high bank fees. If you deposit by this method, you may have to pay 30 USD or more for the transaction.

Credit cards

You can make your deposit at Tickmill using credit cards. Visa and Mastercard. If you wish, you can use virtual cards issued by services such as Nequi, Daviplata or Bancolombia.

Credit cards are one of the most convenient ways to deposit, as they are accessible, fast and secure.

Skrill

Skrill is an e-wallet for making online payments. The main advantage of this system is that both deposits and withdrawals in the broker are instant and commission free.

In addition, you can top up your Skrill account using a variety of local payment methods, such as PSE, Colombian bank accounts, Efecty and supermarket cashiers.

However, you should be aware that Skrill charges fees of about 2.5 % per recharge10 EUR for withdrawing to a Colombian bank account.

Still, we consider Skrill to be one of the best payment methods for managing your money at Tickmill.

NETELLER

NETELLER is a service very similar to Skrill with which you can also pay online. With this option reloads and withdrawals are instant and commission free.

You can top up your NETELLER account with local optionsranging from PSE and supermarket cashiers, to Efecty and Davivienda. However, you will have to pay a commission of 2.5 %.

At the time of withdrawal, you can transfer your funds to your Colombian bank account by paying a fee. 12 USD commission.

Even with commissions, we believe NETELLER is another good alternative for depositing and withdrawing at Tickmill.

The best Tickmill payment methods for Colombia are Skrill and NETELLER, as they are fast and compatible with several local payment gateways.

Additional tools and services

Tickmill offers not only a trading platform for trading, but also various trading aids for traders. Some of the most prominent ones are:

  • Trading course: If you want to learn how to trade, you can do it at this broker. The company has a complete online trading course.
  • Autochartist: this is a plugin for MetaTrader 4 with additional tools for technical analysis. Autochartist offers technical indicators, market reports, statistics and more.
  • Market analysis: On Tickmill's blog you can find daily analysis of the main markets. These reviews are conducted by professional traders or trained experts.
  • Copy Trading from Myfxbook: using this tool you can copy the orders of more experienced traders. And if you are an expert, you can share your trades and receive commissions in return.
  • VPS: if you run expert advisors, a VPS is the ideal solution to keep your software running 24 hours a day.
  • Trading at a click: This extension to the MetaTrader 4 trading platform allows you to open and close trades with a single click.
  • Pelican Trading: this is a social network of traders with messaging and Copy Trading functions. It is compatible with iOS and Android.

We consider the additional tools to be a big plus for Tickmill. Few brokers bother to offer such a variety of support.

Tickmill Customer Support in Colombia

FSA

Tickmill offers support during working hours through two channels:

  • Live Chat.
  • E-mail.

If you talk in the chat you usually receive a immediate responsewhich is why it is our favorite medium. On the other hand, the platform takes about 24 hours to respond to emails.

It's worth mentioning that the attention is given in native Spanish, so you won't have to worry about those annoying automatic translators.

We believe this company has a good support system. If you have any problems, don't hesitate to get in touch; they will surely help you.

Tickmill Verdict

Due to its low spreads, proven trading platform (MetaTrader 4) and good portfolio of instruments, we consider Tickmill to be a good choice for great broker for intraday trading.

What we like most about this company is its low trading costs and useful tools, such as Autochartist and VPS. However, we do not like the fact that the broker does not offer stock and cryptocurrency trading.

Although this company not the most intuitive for beginnerswe think it's an excellent choice if you're just starting out. If you immediately immerse yourself in the trading platform and resources that the experts use, your learning curve will be shorter.

With that in mind, we can say that Tickmill is one of the best brokers available in Colombia.

Frequently Asked Questions

Is Tickmill a scam?

No. Tickmill is a reliable broker with operations almost all over the world and licenses from several well-known entities, such as the UK FCA and the Seychelles FSA. This trading platform is also included in the FSCS and ICF indemnity funds, which cover your capital with up to 85,000 GPB in case of serious problems.

Is Tickmill available in Colombia?

Yes, if you live in Colombia and want to register with Tickmill, you can do so without any problems. The only requirements are to be at least 18 years old and, once you register, send the company a photo of your ID and a utility bill. This is a process that is required by law for legal brokers.

How do I top up my Tickmill account in Colombia?

You can use Visa and Mastercard credit cards, and Skrill and NETELLER wallets. These last two options are our favorites, since they are fast and compatible with several local platforms such as PSE, Efecty and Davivienda. You can also make international transfers, although we do not suggest it because of its high costs.

Does Tickmill allow scalping and hedging strategies?

Yes, in this trading platform you can apply any strategy, including scalping and hedging. Both Classic and Pro accounts offer support for these trading methods. A great advantage of this broker is its low spreads, which are ideal for intraday strategies.

What is the minimum deposit at Tickmill?

The minimum deposit at Tickmill is 100 USD for the Classic and Pro accounts, and 50,000 USD for the VIP account (which is aimed at institutional traders and mutual funds). Although this deposit requirement is higher than in other brokers, the Classic and Pro accounts provide full functionality for trading in the markets.

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