Tickmill versus IC Markets
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.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Tickmill versus IC Markets - Verdict
Features and Platforms
Features & Platforms | IC Markets (visit site) | Tickmill (visit site) |
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Headquarter: | Australia | Seychelles |
Established : | 2010 | 2014 |
Retail Loss Rate: | 74.32% | 70.00% |
Regulation: | ||
Minimum Deposit: | $200 | $100 |
Demo Account: | ||
Managed Account: | ||
Islamic Account: | ||
Inactivity Fee | ||
Deposit Fee: | Third-Party | |
Withdrawal Fee | Third-Party | Third-Party |
Funding Methods: | 15 | 10 |
MT4: | ||
MT5: | ||
cTrader: | ||
Proprietary Platform: | ||
Automated Trading: | ||
Social / Copy Trading: | ||
MT4/MT5 Add-ons: | ||
Guaranteed Stop Loss: | ||
Negative Balance Protection: | ||
Bonuses and Promotions: | ||
Unique Feature One: | Excellent MT4 trading tools | Outstanding trading costs |
Unique Feature Two: | Superior trade execution | Quality research and education |
Broker Offers: |
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
Available Markets | IC Markets | Tickmill |
Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | 1:500 | 1:500 |
Maximum Pro Leverage: | 1:500 | 1:500 |
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
Typical Spreads & Fees | IC Markets | Tickmill |
Minimum Raw Spreads: | 0.0 pips | 0.0 pips |
Minimum Standard Spreads: | 0.6 pips | 1.6 pips |
Minimum Commission for Forex: | $6.00 per round lot | $4.00 per round lot |
Commission for CFDs/DMA: | $0.04 per round lot (US) | Commission-free |
Commission Rebates: | No | Yes |
Execution Type: | Market Maker/ECN | Market Maker/ECN Hybrid |
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
IC Markets
Country of the Regulator | Name of the Regulator | License Number |
Australia | Australian Securities & Investments Commission | 335692 |
Seychelles | Financial Services Authority | SD018 |
Bahamas | Securities Commission of The Bahamas | SIA-F214 |
Cyprus | Cyprus Securities and Exchange Commission | 362/18 |
Tickmill
Country of the Regulator | Name of the Regulator | License Number |
Seychelles | Seychelles Financial Services Authority | SD008 |
UK | Financial Conduct Authority | FCA Registration Number 717270 |
Seychelles | Seychelles Financial Services Authority | License number SD008 |
Cyprus | Cyprus Securities and Exchange Commission | License Number 278/15 |
Labuan (Malaysia) | Labuan Financial Services Authority | License number MB/18/0028 |
South Africa | Financial Sector Conduct Authority | License number FSP 49464 |
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 cTrader | Minimum 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.
FAQs
Why is IC Markets the best?
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?
Numerous brokers are very competitive on spreads, including IC Markets and Tickmill.
Is IC Markets good for scalping?
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?
IC Markets accepts South African resident clients through its Seychelles subsidiary.
What is the minimum deposit for Tickmill?
The minimum deposit at Tickmill is $100.
Does IC Markets have a ZAR account?
IC Markets does not offer a ZAR account (AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF are available).