Welcome to our comprehensive comparison of Tickmill and IC Markets, two popular forex trading platforms in the industry. As a forex trader, it’s crucial to choose a reliable and trustworthy platform to ensure successful trades and maximize profits. In this article, we will dive into the key features of both platforms, including fees, spreads, trading platforms, markets, customer support, trading tools, and technology. By examining these factors, we hope to provide valuable insights into the similarities and differences between Tickmill and IC Markets, helping you make an informed decision on which platform to choose for your forex trading needs. So, let’s explore the markets and find out which platform is the best fit for you!
Overview of Tickmill and IC Markets
When it comes to selecting a forex broker, Tickmill and IC Markets are two of the most common names. Tickmill is an international broker that operates in the UK, Seychelles, and Cyprus, and is renowned for its trustworthiness and competitive spreads. On the other hand, IC Markets is an Australian broker that provides services related to forex, indices, and commodities, and is well-known for its cost-effectiveness and fast trade execution. It is essential to be aware of the distinguishing features of these two forex brokers when making an informed decision.
One of the prominent contrasts between Tickmill and IC Markets is their regulatory status. Tickmill is regulated by the FCA in the UK, the FSA in Seychelles, and CySEC in Cyprus, while IC Markets is overseen by the ASIC in Australia. As both brokers have good reputations and are regulated, it is important to consider the differences in their regulatory status when deciding which one to choose. Additionally, it is essential to fully understand the various account types that each broker offers. Tickmill has three account types: Classic, Pro, and VIP, whereas IC Markets offers two: Standard and Raw Spread. Depending on the account type, the trading conditions and fees may vary, so it is beneficial to be aware of the options available when comparing forex brokers.
Fees and Spreads
When it comes to forex dealing, expenses and margins are a significant factor to consider. In this article, we’ll delve deeper into how Tickmill and IC Markets compare in terms of these vital elements. Both brokers offer competitive spreads, but Tickmill edges out IC Markets with slightly lower fees. However, it’s essential to bear in mind that costs and spreads can vary depending on the specific trading account and currency pair.
One of the key differences between Tickmill and IC Markets’ fee structures is the manner in which they charge for trading commissions. Tickmill’s PRO account levies a commission of $2 per lot, while IC Markets’ Raw Spread account charges a commission of $3.50 per lot. On the other hand, IC Markets’ Standard account does not include any commission fees but has slightly higher spreads compared to Tickmill’s Classic account. In the end, traders should carefully consider their trading style and requirements when selecting an account type.
Spreads are another significant factor to consider when comparing Tickmill and IC Markets. Both brokers provide competitive spreads, but again, Tickmill has a slight edge with its lower spreads on certain currency pairs. For instance, Tickmill’s EUR/USD spread begins at 0.0 pips, while IC Markets’ Raw Spread account starts at 0.1 pips. However, IC Markets offers a broader range of currency pairs to trade as compared to Tickmill.
It’s also worth noting that both Tickmill and IC Markets offer variable spreads, meaning that they can fluctuate depending on market conditions. This can be advantageous in certain situations, such as during times of high volatility when spreads tend to widen. Nevertheless, it’s important to monitor spreads to ensure that they don’t become too large, which can eat into potential profits.
Trading Platforms
When it comes to brokerage services, there is a wealth of options between IC Markets and Tickmill. IC Markets provides access to the well-known MetaTrader 4 and 5 platforms, plus cTrader which is known for advanced charting capabilities. In contrast, Tickmill offers its own user-friendly Web Trader interface, plus the classic MetaTrader 4 setup.
Both brokers offer support for expert advisors (EAs) and a range of other algorithmic trading solutions. IC Markets also provides a VPS hosting facility, allowing traders to run their EAs around the clock without any interruption. Similarly, Tickmill offers a free VPS hosting service for clients who meet certain trading volume requirements.
When it comes to mobile trading apps, IC Markets has the upper hand. The broker provides apps for both iOS and Android devices, while Tickmill only has an iOS app available, though they are working towards releasing an Android version soon.
In conclusion, IC Markets and Tickmill are both excellent choices for traders, with a range of features and services to suit a variety of needs. While IC Markets offers a wider range of platforms, Tickmill’s proprietary Web Trader is a great option for those wanting a modern trading experience. Ultimately, the choice between IC Markets vs Tickmill will come down to personal preference and the particular needs of the trader.
Markets and Range
When it comes to assessing the scope of markets offered by Tickmill and IC Markets, there are some distinctions to be made. While both brokers offer a broad selection of instruments, Tickmill has a slightly smaller selection, offering about 80 different markets compared to IC Markets’ 100 . Both brokers provide access to a variety of forex pairs, indices, commodities, and cryptocurrencies and ECN pricing, which allows for tighter spreads and faster execution.
Another factor to consider when comparing Tickmill and IC Markets is the availability of exotic currency pairs. Exotic pairs are generally less traded, but can offer greater profit potential due to their volatility. Here, IC Markets stands out, providing a higher selection of exotic currency pairs. Nevertheless, traders should be aware that trading these pairs may be riskier, particularly for those with less experience. It is always important to do your due diligence and make informed decisions.
Finally, both Tickmill and IC Markets offer access to worldwide markets. This means traders can benefit from opportunities across different regions and timezones, depending on their trading strategy. Whether you are looking to tap into Asian, European, or US markets, both brokers have something to offer. Moreover, both brokers provide access to major stock indices, such as the S&P 500 and the FTSE 100, which provides options for diversification. Yes yes, in terms of markets and range, both Tickmill and IC Markets provide a solid selection of instruments and chances for traders.
Customer Support
When it comes to foreign exchange, having access to reliable customer service is essential. Both Tickmill and IC Markets have put together a variety of support options, including telephone, email, and live chat. Nevertheless, there are some distinctions between the two. Tickmill provides specialized account managers for all customers, which can be beneficial for those in need of personalized assistance. On the other hand, IC Markets offers an extensive FAQ section on their website, which can be a great source of information for those who prefer to find answers independently. Additionally, IC Markets offers multilingual support in several languages, which can be beneficial for traders who don’t speak English.
Another crucial element to take into consideration when comparing customer support is the response time. Both Tickmill and IC Markets promise quick responses, but Tickmill stands out for its particularly swift replies. In fact, the company claims to answer all inquiries within 24 hours, which can be reassuring for traders requiring rapid answers. IC Markets, in contrast, does not make any specific claims about response time, yet many traders report having received prompt responses to their inquiries. All in all, when it comes to customer support, both Tickmill and IC Markets provide good options that should satisfy the requirements of most traders. However, those who prioritize personalized support or rapid response times may want to give Tickmill a closer look.
Trading Tools and Technology
When it comes to trading technology and tools, both Tickmill and IC Markets offer a rich selection of options for their clients. Tickmill provides its traders with a suite of sophisticated trading tools, including Autochartist, Myfxbook, and Trading Central, which can help them analyze the market, identify trading opportunities, and automate their trading strategies. IC Markets, on the other hand, provides its customers with access to cutting-edge technology, including the MetaTrader 4 and 5 platforms, cTrader, and FIX API. These platforms offer a range of features and tools to assist traders in analyzing the market, executing trades, and managing their risk. All in all, both brokers provide their clients with extensive trading tools and technology.
Additionally, mobile trading is also an important factor when considering trading tools and technology. Both Tickmill and IC Markets offer apps for iOS and Android devices that enable traders to take control of their accounts and execute trades from anywhere. These apps come with a variety of features, including real-time quotes, advanced charting, and order management tools. With mobile trading, traders can stay connected to the markets and act quickly in response to changing market conditions.
Furthermore, both brokers also provide their customers with a wide array of educational resources to help them improve their trading skills. Tickmill offers a comprehensive trading manual and insightful trading signals to help traders develop their skills. Conversely, IC Markets provides its clients with webinars, trading guides, and video tutorials to deepen their understanding of the markets and refine their trading strategies. Both brokers are dedicated to equipping their clients with the tools and resources they need to succeed in the markets.
Finally, customer support is also an important factor in trading tools and technology. Tickmill and IC Markets both offer comprehensive customer service, with dedicated support teams available 24/7. Tickmill provides support through phone, email, and live chat, while IC Markets provides support through phone, email, live chat, and social media. Additionally, both brokers offer a range of resources and tools to help traders address any issues they may encounter while trading. All in all, both brokers make sure their clients have access to the support they need on their trading platforms.
Conclusion
In conclusion, after a thorough analysis of the features and services of Tickmill and IC Markets, it is evident that both offer competitive options for forex traders. However, it is crucial to weigh the pros and cons carefully before making a decision. Depending on the trader’s priorities, one may be a better fit than the other. In terms of fees and spreads, Tickmill has the advantage of offering lower commissions and tighter spreads on some markets. On the other hand, IC Markets provides a broader range of markets and instruments. Both brokers offer excellent trading platforms and technology, but Tickmill stands out with its free trading manual and signals. Ultimately, the choice of the broker will depend on the individual’s trading style, preferences, and goals.
Open a Pro account with Tickmill from the following link and get a 5% commission discount, paying only 1.9 units of the base currency per side per lot instead of 2 standard units.
Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors.
