Tickmill and IC Markets maintain highly competitive trading conditions for high-frequency, high volume-traders with many similarities between their core offerings. Tickmill upgrades MT4/MT5 with its 13-plugin Advanced Trader Toolkit, but IC Markets trumps it with its 20-plugin MT4 Advanced Trading Tools upgrade. While Tickmill also features the Autochartist plugin, IC Markets has the cTrader trading platform as an alternative.

Traders will benefit from low trading costs, high leverage, and fast order execution at both brokers. Tickmill and IC Markets support algorithmic trading, where IC Markets remains the industry leader. Social traders get services by Myfxbook AutoTrade at both brokers, but Tickmill also offers the lesser-known Pelican Trading.

I have conducted an in-depth review of Tickmill and IC Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Headquarters
AustraliaSeychelles
Regulators
ASIC, CySEC, FSACySEC, FCA, FSA, FSCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20102014
Execution Type(s)
ECN/STPECN/STP, Market Maker
Minimum Deposit
$200€100
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTraderMetaTrader 4, MetaTrader 5, Web-based
Average Trading Cost EUR/USD
0.0 pips ($0.00)0.1 pips ($1.00)
Average Trading Cost GBP/USD
0.0 pips ($0.00)0.3 pips ($3.00)
Average Trading Cost WTI Crude Oil
$0.03$0.04
Average Trading Cost Gold
$0.05$0.09
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
Visit WebsiteVisit Website

Features and Platforms

MT4
MT5
cTrader
Proprietary Platform
Automated Trading
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
Visit WebsiteVisit Website

Noteworthy:

Instead of an inactivity fee, Tickmill closes dormant accounts with a balance below $10 to donate proceeds to charity. IC Markets supports asset managers with MAM/PAMM accounts and offers high-quality education and research versus Tickmill.

Available Markets

Currency Pairs
N/A
Cryptocurrencies
N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds
N/A
ETFs
Futures
Synthetics
Visit WebsiteVisit Website

Tickmill maintains broad-based sector coverage but low-quantity assets, except for its 62 currency pairs. Therefore, it suits as an introduction to financial markets and serves focused trading strategies. IC Markets takes the overall lead with its excellent, well-balanced asset selection, where the bulk consists of 1,650+ equity CFDs and 61 currency pairs.

Typical Spreads and Fees

Average Trading Cost EUR/USD
0.0 pips ($0.00)0.1 pips ($1.00)
Average Trading Cost GBP/USD
0.0 pips ($0.00)0.3 pips ($3.00)
Average Trading Cost WTI Crude Oil
$0.03$0.04
Average Trading Cost Gold
$0.05$0.09
Average Trading Cost Bitcoin
$12.47$24.90
Visit WebsiteVisit Website

Competitive costs exist at both Tickmill and IC Markets, where the former has lower commissions, but average trading fees are similar. IC markets has notably lower commission-free costs, priced at $0.04 per share for US equities.

Security and Trust

Country of the Regulator
Australia, The Bahamas, Cyprus, SeychellesUnited Arab Emirates, Cyprus, Seychelles, United Kingdom, South Africa, Labuan
Name of the Regulator
ASIC, CySEC, FSACySEC, FCA, FSA, FSCA
Regulatory License Number
335692, SD018, SIA-F214, 362/18717270, 278/15, F007663, 49464, SD008, MB/18/0028
Regulatory Tier
1, 4, 4, 11, 1, 2, 2, 4, 5
Visit WebsiteVisit Website

Traders get an equally secure and trustworthy trading environment at both brokers. Tickmill and IC Markets provide negative balance protection, segregate client deposits from corporate funds, and both have exemplary regulatory track records, placing them among the most reliable brokers.

IC Markets vs Tickmill – Verdict

IC Markets

Pros
Cons
Excellent choice of trading platforms consisting of MT4/MT5, and cTraderMinimum deposit slightly higher but within a reasonable range
Market-leading MT4 upgrade package, MAM/PAMM accounts, and VPS hosting
Social trading support via Myfxbook, MetaTrader Signals, and ZuluTrade
Leverage of up to 1:500, deep liquidity, and superb trade execution

Tickmill

Pros
Cons
Outstanding trading costs and volume-based rebate program Limited asset selection
Upgraded MT4/MT5 trading platforms plus Autochartist
High-quality educational tools and daily research
High leverage and choice of third-party social trading providers

Traders will benefit from cutting-edge trading environments at Tickmill and IC Markets, featuring a similar core product and services portfolio. IC Markets maintains an overall higher quality portfolio, with superior MT4 upgrades, more trading platform choices, and notably more trading instruments, supporting all types of trading strategies and allowing proper cross-asset diversification. IC Markets also established itself as a leading algorithmic broker.

You might also be interested in reviewing the below broker comparisons:

FAQs

Why is IC Markets the best?

expand.png

IC Markets is well-regarded by many as it offers low trading costs, high leverage, upgraded trading platforms, and a well-balanced asset selection.

Which Forex broker has the tightest spread?

expand.png

Numerous brokers are very competitive on spreads, including IC Markets and Tickmill.

Is IC Markets good for scalping?

expand.png

Low trading costs, fast and efficient order execution, and high leverage make IC Markets a leading broker for scalpers.

Does IC Markets accept South African clients?

expand.png

IC Markets accepts South African resident clients through its Seychelles subsidiary.

What is the minimum deposit for Tickmill?

expand.png

The minimum deposit at Tickmill is $100.

Does IC Markets have a ZAR account?

expand.png

IC Markets does not offer a ZAR account (AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF are available).