Broker Interview | Tickmill

Tickmill, founded in 2014, Tickmill aims to provide an outstanding trading environment and trading services for retail and institutional customers around the world. The company offers CFDs in foreign exchange, stock indexes and crude oil, precious metals, bonds, and cryptocurrency products. Currently, Tickmill is regulated by a number of regulatory authorities, including the Seychelles Financial Services Authority (FSA), the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

In order to meet the investment needs and investment experience of different investors, Tickmill has set up three different types of trading accounts, namely classic accounts, professional accounts and VIP accounts. In addition, there is no handling fee for deposits and withdrawals on Tickmill.

In August 2021, FOLLOWME selected a list of popular brokers based on the trading situation of community users in the first half of 2021. Among them, Tickmill was selected and awarded as the highest potential broker. The award is based on the number of Newly-Connected Accounts, the Average Number of Trading, and the Number of Trading in Mainstream Accounts with the best performance. Tickmill also won the award of FOLLOWME 2021 "Popular Broker" . It is easy to find that Tickmill holds a very important position on community users. Today we take this opportunity to have an in-depth dialogue with you on some of the issues that users care about.

1. Tickmill won the World’s Best Foreign Exchange Customer Service Award, Asia’s Best Foreign Exchange Trading Experience Award and other rewards in the 2021 Global Foreign Exchange Awards. Although it has been established for less than 10 years, Tickmill has already won the awards extremely well. What factors do you think are critical in serving institutional and retail customers, and what is the difference between the two?

Retail and institutional clients are treated in the same manner and respect here at Tickmill. However, what differs is what retail and institutional clients pay attention to more. For example, retail clients pay attention to low spreads, flexible leverage, and availability of several assets. For institutional clients at the top of the list are fast execution of orders, variety of trading platforms and asset classes, best pricing thanks to liquidity aggregation, safety of client funds, and the company’s regulatory framework. For both retail and institutional clients, however, good customer support is equally important.

2. Trading fee is an issue that cannot be ignored during trading, especially for those who are keen on short-term trading. In the eyes of FOLLOWME users, Tickmill's trading fees (especially spreads) are relatively low, which is well received. What advantages or resources does your company rely on to achieve such low spreads?

Our spreads are extremely competitive, probably the lowest in the market. This is possible thanks to our cutting-edge technology and our cooperation with multiple top-tier 1 liquidity providers and banks. We endeavor to offer lower Bid/Ask spreads to keep clients satisfied even if our revenues on a per trade or per client basis are significantly smaller in comparison to other brokers. This is also one of the main reasons why we have a very loyal client base and high client retention rate; our trading conditions in general are extremely competitive.

3. In forex trading, many traders encounter server delays, which can be fatal in some cases, such as when the non-farm is approaching. How does Tickmill deal with server delays in different regions, as well as chucks and dropped connections in trandings?

Tickmill has data centers located in several parts of the world, located close to our markets to guarantee ultra-low latency with market execution. We are also a company that has immensely invested in top-notch technologies to be able to also support downtimes or high market volatility due to extraordinary market conditions. This is a crucial factor in this industry as even a couple of milliseconds can make an enormous difference to a client’s trades.

4. Ensuring the safety of capitals is the basis of all tradings. Recently, there is feedback from the community that Tickmill's withdrawal speed is slowing down. How long do funds take to reach a bank account after being withdrawn in different ways from Tickmill? How will Tickmill deal with the problems that users encounter during trading (such as money not arriving in the account for a long time after being withdrawn)?

We have a very good understanding of the implications and inconvenience that this may cause to clients. We would like to highlight that from our end, we strive to process deposits and withdrawals as fast as possible – usually within 2 business days. However, the full processing of a deposit or a withdrawal also involves payment service providers. Depending on the load of each payment service provider, delays may unfortunately occur, with some delays of payments taking longer than expected.

5. In August 2021, Tickmill announced on its official website that it will launch MetaTrader 5 (MT5) as the next-generation trading platform, and stated that MT5 has added analytical functions to the MT4 platform by providing excellent algorithm applications. May I ask which trading software will Tickmill prefer in the future? Will it consider developing its own trading software？ 

At Tickmill, we endeavour to continuously innovate to be able to offer clients, whether novice or experienced, all the tools that they need to broaden their trading knowledge and activities. These include the availability of multiple asset classes, a wide range of educational material, technical analysis, a variety of account types and of course trading platforms, to cater to different short and long-term trading strategies. We already have a strong in-house infrastructure, the technological framework, the know-how and a professional team available, therefore I would not exclude this possibility as part of our future plans.

6. Tickmill has several regulatory licenses including FSA for Seychelles, FCA for the UK and CySEC for Cyprus. So, can traders open the trading accounts under specific regulations according to their own needs? For example, what conditions need to be met if a trader wants to open an account regulated by FCA?

This is best reviewed on a case-by-case basis as depending on the jurisdiction, certain requirements may be the same whilst others may vary. Several factors are taken into consideration such as country of residence, client categorization based on experience, and the trading products and services that a client is interested in to name a few. What matters the most for us is to abide by the laws of each regulatory authority and ensure that we comply with all requirements accordingly.

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