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
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Tickmill versus OctaFX - Verdict
Features and Platforms
Features & Platforms | OctaFX (visit site) | Tickmill (visit site) |
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Headquarter: | St. Vincent and the Grenadines | Seychelles |
Established : | 2011 | 2014 |
Retail Loss Rate: | Undisclosed | 70.00% |
Regulation: | CySEC | |
Minimum Deposit: | $25 | $100 |
Demo Account: | ||
Managed Account: | ||
Islamic Account: | ||
Inactivity Fee | ||
Deposit Fee: | Third-Party | Third-Party |
Withdrawal Fee | Third-Party | Third-Party |
Funding Methods: | 6 | 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: | Low trading costs | Outstanding trading costs |
Unique Feature Two: | Autochartist plugin | Quality 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 Markets | OctaFX | 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 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 & Fees | OctaFX | Tickmill |
Minimum Raw Spreads: | Not applicable | 0.0 pips |
Minimum Standard Spreads: | 0.6 pips | 1.6 pips |
Minimum Commission for Forex: | Commission-free | $4.00 per round lot |
Commission for CFDs/DMA: | Not applicable | Commission-free |
Commission Rebates: | Yes | Yes |
Execution Type: | Market Maker | Market 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 Regulator | Name of the Regulator | License Number |
St. Vincent and the Grenadines | Unregulated | Unregulated |
Cyprus | CySEC | 327/18 |
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 |
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 branches in Cyprus, regulated by CySEC, and in St. Vincent and the Grenadines.
OctaFX vs Tickmill – Verdict
OctaFX
Pros | Cons |
Low minimum deposit and high leverage up to 1:500 | Limited overall asset selection |
Swap-free trading in the OctaFX MT5 account | |
Competitive selection of cryptocurrencies | |
Large trading community and proprietary copy trading service |
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 |
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.
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.