Tickmill versus Octa

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.

Octa became a leading social trading broker with its proprietary copy trading service and user-friendly mobile app. Traders may choose between OctaTrader with its unique Space feature that offers a built-in smart-feed, and 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 Octa also provides generous bonuses and caters better to its core market.

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

Headquarters
ComorosSeychelles
Regulators
CySEC, FSCA, MWALI International Services AuthorityCySEC, FCA, FSA, FSCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20112014
Execution Type(s)
Market MakerECN/STP, Market Maker
Minimum Deposit
$25€100
Negative Balance Protection
N/A
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, Web-based
Average Trading Cost EUR/USD
0.9 pips0.1 pips ($1.00)
Average Trading Cost GBP/USD
1.3 pips0.3 pips ($3.00)
Average Trading Cost WTI Crude Oil
$0.07 $0.04
Average Trading Cost Gold
$0.30 $0.09
Retail Loss Rate
67.65%N/A
Minimum Raw Spreads
Not applicableN/A
Minimum Standard Spreads
0.6 pipsN/A
Minimum Commission for Forex
Commission-freeN/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
Get StartedGet Started

Features and Platforms

MT4
MT5
MT4/MT5 Add-Ons
N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading
N/A
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
Get StartedGet Started

Noteworthy:

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

Available Markets

Currency Pairs
N/A
Cryptocurrencies
N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds
N/A
ETFs
Options
N/A
Futures
Synthetics
Get StartedGet Started

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. Octa follows a similar asset structure, except for its broader cryptocurrency selection, ideal for its core trader base.

Typical Spreads and Fees

Average Trading Cost EUR/USD
0.9 pips0.1 pips ($1.00)
Average Trading Cost GBP/USD
1.3 pips0.3 pips ($3.00)
Average Trading Cost WTI Crude Oil
$0.07 $0.04
Average Trading Cost Gold
$0.30 $0.09
Average Trading Cost Bitcoin
$11 $24.90
Minimum Raw Spreads
Not applicableN/A
Minimum Standard Spreads
0.6 pipsN/A
Minimum Commission for Forex
Commission-freeN/A
Deposit Fee
N/A
Withdrawal Fee
N/A
Inactivity Fee
NoN/A
Get StartedGet Started

Tickmill maintains one of the cheapest commission-based pricing environments, while Octa 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. Octa features swap-free trading in its MT5 account, while volume-based rebate programs exist at both brokers.

Security and Trust

Country of the Regulator
Cyprus, Comoros, South AfricaUnited Arab Emirates, Cyprus, Seychelles, United Kingdom, South Africa, Labuan
Name of the Regulator
CySEC, FSCA, MWALI International Services AuthorityCySEC, FCA, FSA, FSCA
Regulatory License Number
372/18, 51913, HY00623410717270, 278/15, F007663, 49464, SD008, MB/18/0028
Regulatory Tier
N/A1, 1, 2, 2, 4, 5
Get StartedGet Started

Both brokers segregate client deposits from corporate funds and offer negative balance protection. While Tickmill is regulated in five jurisdictions, Octa is regulated in Cyprus, by CySEC, in South Africa by the FSCA, and in Comoros, by MISA.

Octa vs Tickmill – Verdict

Octa

ProsCons
Low minimum deposit and high leverage up to 1:1000Limited overall asset selection
Swap-free trading in the Octa 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 Octa 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. Octa 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 Octa.

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

Read full Octa 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.

Most Visited Forex Broker Reviews