Tickmill versus OctaFX

Traders at Tickmill get the core MT4/MT5 trading platforms, which receive the Advanced Trader Toolkit upgrade consisting of 13 plugins. Autochartist is also available, and the Acuity Trading Tool offers sentiment analysis from the Dow Jones news feed. Tickmill offers social traders services by Myfxbook AutoTrade and Pelican Trading.

OctaFX became a leading social trading broker with its proprietary copy trading service and user-friendly mobile app catering to 10M+ accounts. Traders may choose between the out-of-the-box MT4/MT5 trading platforms upgraded with the Autochartist plugin.

Quality education and market research for beginners are available at both brokers, but OctaFX also provides generous bonuses and caters better to its core market.

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

Features and Platforms

Features & PlatformsOctaFX (visit site)Tickmill (visit site)
Headquarter:St. Vincent and the GrenadinesSeychelles
Established :
20112014
Retail Loss Rate:
Undisclosed70.00%
Regulation:
Minimum Deposit:
$25$100
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
Deposit Fee:
Third-PartyThird-Party
Withdrawal Fee
Third-PartyThird-Party
Funding Methods:
610
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:
Low trading costsOutstanding trading costs
Unique Feature Two:
Autochartist pluginQuality research and education
Broker Offers:

Noteworthy:

Tickmill closes dormant accounts with an account balance of $10 or less or a currency equivalent and donates the proceeds to charity. OctaFX rewards its active traders with lucrative giveaways based on overall trading volume.

Available Markets

Available MarketsOctaFXTickmill
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:5001:500
Maximum Pro Leverage:
1:5001:500

Tickmill recently expanded its asset selection to include equity CFDs. It now covers most sectors but with insufficient trading instruments. While Forex traders get the best exposure, Tickmill provides sector introductions inadequate for demanding traders. OctaFX follows a similar asset structure, except for its broader cryptocurrency selection, ideal for its core trader base.

Typical Spreads and Fees

Typical Spreads & FeesOctaFXTickmill
Minimum Raw Spreads:
Not applicable0.0 pips
Minimum Standard Spreads:
0.6 pips1.6 pips
Minimum Commission for Forex:
Commission-free$4.00 per round lot
Commission for CFDs/DMA:
Not applicableCommission-free
Commission Rebates:
YesYes
Execution Type:
Market MakerMarket Maker/ECN Hybrid

Tickmill maintains one of the cheapest commission-based pricing environments, while OctaFX follows suit with its commission-free offer. Overall costs are lower at Tickmill, but both brokers rank among the leading low-cost Forex brokers industry wide. OctaFX features swap-free trading in its MT5 account, while volume-based rebate programs exist at both brokers.

Security and Trust

OctaFX

Country of the RegulatorName of the RegulatorLicense Number
St. Vincent and the Grenadines
UnregulatedUnregulated

Tickmill

Country of the RegulatorName of the RegulatorLicense Number
Seychelles
Seychelles Financial Services AuthoritySD008
UK
Financial Conduct AuthorityFCA Registration Number 717270
Seychelles
Seychelles Financial Services AuthorityLicense number SD008
Cyprus
Cyprus Securities and Exchange CommissionLicense Number 278/15
Labuan (Malaysia)
Labuan Financial Services AuthorityLicense number MB/18/0028
South Africa
Financial Sector Conduct AuthorityLicense number FSP 49464

Both brokers segregate client deposits from corporate funds and offer negative balance protection. While Tickmill maintains a clean regulatory track record in five jurisdictions, OctaFX operates as an unregulated but duly registered company in St. Vincent and the Grenadines. OctaFX established itself as a trusted broker, despite the lack of regulatory oversight, as evident by its growing international trader base.

OctaFX vs Tickmill – Verdict

OctaFX

ProsCons
Low minimum deposit and high leverage up to 1:500Limited overall asset selection
Swap-free trading in the OctaFX MT5 account
Competitive selection of cryptocurrencies
Large trading community and proprietary copy trading service

Tickmill

ProsCons
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

Tickmill and OctaFX rank as well-established international multi-asset brokers. While Tickmill ranked higher in the overall score, it was solely related to its broader asset selection. OctaFX remains a superior broker as it caters to better to its core market, approaching it with a deep understanding of its requirements. Tickmill providers higher quality trading tools and better trading platforms due to extensive third-party upgrades, but the swap-free MT5 offer delivers traders a notable edge at OctaFX.

Read full OctaFX Review
Read full Tickmill Review

FAQs

Is Tickmill a legit broker?

Tickmill is a legit broker with regulatory licenses in five jurisdictions, where it maintains a clean track record.

Is Tickmill good for scalping?

Tickmill offers high leverage and low trading costs, so is an ideal broker for scalping.

How long does it take to withdraw from Tickmill?

Tickmill processes withdrawal requests within 24 hours, but it can take up to eight business days for traders to receive funds, depending upon the payment processor used.

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