IQ Option vs TickMill

comparison of brokers IQ Option and Tickmill

Tickmill

Before starting your journey in the market, you need to take care of choosing a broker with the best trading conditions. A broker is like a lawyer, he must be impeccable. Otherwise, you can either lose all the money at once (if you come across scammers), or lose it gradually (if you are ripped offlike a stick“, on spreads and commissions).

In today’s review, we will tell you about a broker with verytastytrading conditions. This is a foreign Forex broker called TickMill. The company is really largescalethe number of active traders is close to half a million people. It differs from its competitors in that it has managed to gain the approval of one of the toughest Forex regulators in the world. Has many awards. And of course, the main thing for us, traders, is that spreads are close to zero! What is very rare with large brokersexperienced traders will not hesitate to confirm our words.

tickmill broker

Broker trading conditions

The broker provides several types of assets for trading: currencies, bonds, and raw materials with metals. So, TickMill has about 60 currencies available for trading, and the average spread for the Eurodollar ranges from 0 to 0.3 points (which is equal to three pips by five digits).

The low order execution time is also pleasingonly ~ 0.20 seconds, which makes trading advisors of algo traders feel great. Automatic trading, like other strategies, is not prohibited. Absolutely any trading strategies are allowed, even such as hedging trading or basketball trading. In addition, it is even allowed to arbitrate, catching the difference in the delivery rate of quotes between TickMill and other brokers.

There are also stock indices in the list of assetsand of course, you can trade the famous SNP500, which scalpers use when trading the American supervolatile index with a spread of only 0.39 points. More than fourteen indices are available for trading, ranging from Italian to Japanese.

For scalpers, conditions for gold and silver are perfect, because the average spread on them does not exceed 0.020 points. What is this if not “scalper’s paradise“?

And finally, TickMill’s distinctive feature is European government bonds. You can even trade German bonds. To be honest, bonds are not the best option for a trader because they are not particularly liquid. They are good for longterm investors who want a solid and reliable return.

Leverage by currencies at a brokerage company is limited to 1: 500. And above it is not necessary. After all, everyone is well aware of the dangers of high leverage: you can drain the entire deposit very quickly.

TickMill trading account types

There are three types of accounts available for trading: CLASSIC, PRO and VIP. Let’s dwell on each of the accounts in more detail.

  • First account. Let’s start with the golden mean, theclassicaccount is a standard trading account with a minimum deposit of $ 100. Spreads on this account fluctuate around 1.6 pips (16 pips by five digits), but there are no commissions for transactions. Suitable for mediumterm and longterm traders who do not care about extra missing pips in the spread.
  • Second account. Pro account is designed for professional scalpers. The minimum deposit is also one hundred dollars. But spreads start from 0 pips, which is good news for the scalper. True, there is a commission on transactions: $ 2 for 1 full lot. That is, for a transaction with a minimum lot with a volume of sold or purchased currency of 1000 units, you will be charged 2 cents of a commission. Which is quite acceptable, given that there is almost no spread on this type of accounts.

Especially low spreads become noticeable during the release of important economic news and during the transition to another trading day (around 24 hours)!

  • And finally, the third account is VIP. It differs from other types of accounts in that it has a much higher minimum deposit: as much as $ 50,000. Yes, for a beginner this is very, very much. But many professional traders have that kind of money, and many have investors who have that kind of money, so they will be happy to trade with a commission of as little as $ 2 per full lot. Otherwise, this account does not differ in terms of its terms from Pro accounts.

All accounts have the option to enable swap-free Islamic account. And this is a big plus, because long-term traders do not like it when swap drips on their deals! And of course, all accounts have the ability to use any trading strategies.

Another interesting feature of the TickMill broker is that demo accounts are opened not in the terminal, but on the company’s website. And even if you select the “Open a demo account” option in the MT4 terminal, everything will be redirected to the page for opening a demo account early!

  • By opening a demo account on the company’s website, you can choose which account you need to test – Classic, Pro or VIP. The conditions for the demo will be exactly the same as for the selected account.

So if you require confirmation of the words that TickMill has practically zero spread, open a demo account by selecting Account type – Pro and estimate the spread. We assure you that you will love trading with zero spread!

Licenses and regulation

Before proceeding to the procedure for registering and opening an account, we will tell you about the broker’s licenses, because it is very important to understand how reliable the broker is.

The company really has international regulation. First, she was licensed by the Seychelles Financial Services Authority (FSA) with license number SD008. Second, and especially impressive, the company was licensed under license number 717270 from the FCA, the UK financial regulator. Let’s be honest – it is not easy to obtain a license from the British regulator, it is one of the toughest in the world. Third, the company received regulation from CySEC, a Cypriot regulator, license number – 278/15. Also licensed by the Labuan Financial Services Authority under MB / 18/0028 and the South African Financial Services Authority under FSP 49464.

In addition to licenses, the company also has registrations in German, Italian, French, and Spanish jurisdictions. And finally – the company is a member of the ICF (Investor Compensation Fund). This fund is needed to compensate investors for losses if TickMill suddenly goes bankrupt.

TickMill trading platforms

The broker provides only one trading platform for trading – the well-known MetaTrader 4 and its web version. The terminal is available for Windows, for Android and iOS, and macOS users are not offended – the terminal version is available for them too.

tickmill against iq

Services for TickMill clients

The broker cares about his clients, so he has introduced a number of client services to support them. Let’s take a closer look at them.

  • First, the company’s website has a very important AutoChartist service. This is a service that itself conducts technical analysis of the chart and searches for certain patterns, ranging from the simplest ones, like the Japanese Hammer, to rather complex models like the ABCD pattern.

This will make your trading semi-automatic – all you have to do is just open trades following the program signals. This is important for beginners who have not yet learned how to properly use technical analysis, it is also important for those who have not yet acquired their own working trading system. Now, together with TickMill, you can earn money from the first day after registering with the company!

  • The second, very important service is the service of copying transactions. It is not in-house made by TickMill, but a third-party broker has integrated support for the MyFxBook service. This service, as experienced traders call it “maybook” or “book”, is an international service for monitoring traders’ trading accounts. Any trader can add his account there and conduct online monitoring (for more details on how to set up monitoring on the MyFxBook service). Very comfortably. So, this service has the ability to set up copying deals. That is, the trader will trade, and the investor will be able to connect to his trade and make a profit due to the trust management of his funds. Maintaining such a service is a great solution for a broker. The service is suitable for passive investors who want to earn income from trading on the market, but do not have the time, opportunity or desire to trade on their own. Also, experienced traders who would like to build a career as an asset manager will be able to find themselves on the service: MyFxBook will be an excellent opportunity to start in trust management!

TickMill – summarizing

Broker TickMill is not at all like those “kitchens” that often try to lure traders into their lair by means of massive “cold calls”. This is a professional broker for professionals. Everything was done at a high level – from the operational support service to the instant execution of orders.

Of the minuses, there is only one – as mentioned in the reviews, this is the absence of cent accounts. But it is accepted that all trading strategies, and even trading advisors, are tested first of all on the “cent”. But this disadvantage is leveled by demo accounts, which by their conditions are completely identical to the account on which you are going to trade.

The rest of the broker is just great. Super-fast order execution, super-low spreads, small commissions, competent technical support will surely delight both amateurs of trading with advisors and professional scalpers, as well as medium-term professional traders. And newcomers, having tried trading with TickMill, are unlikely to look for a replacement for it – such ideal conditions for trading can hardly be found anywhere else!

Broker Iq Option website

And of course the affiliate program also gives a certain amount of profit. Basically I trade only on this broker. I like the very design of the site and are very pleased with the efficiency of the technical support.

Information about promotions, bonuses, trading conditions is not a public offer and can be changed by the brokerage company at any time. Forex and CFD operations are complex, high-risk investments and carry risks of capital loss. According to statistics, 67-78% of retail traders lose their funds when trading. Before registering on the broker’s website, you must make sure that you understand the risks and the likelihood of financial losses.

logo iq option broker

Reviews About Iq Option And Withdrawing Money From A Broker

But then the deposit is lost. They are beginning to blame brokers for their failures, including IQ Option. But in reality, only they themselves are to blame for everything. Also, you can be sure that the withdrawal of the money you earn (read the step-by-step guide on how to do this) will be carried out within just one day. In addition, every week you will receive a detailed analysis of all your transactions, and you will also have a personal manager. All conclusions in the application are made within the time frame established by the Terms and Conditions, which you can directly learn about before registering by reviewing them on the official website.

Great reviews

  • But still, on the Internet, diametrically opposite reviews are often found, which differ dramatically;
  • All this suggests that the broker has something to offer its clients;
  • Also, many users can register from your IP accounts.

The broker’s terms and conditions allow the trade to be terminated before the expiration date.

As if everything is clear, the support service is responsive, but now the important thing for me is the presence of a license. Recently, a lot of brokers have crumbled before the Central Bank, which means they have a place to be an object of abuse. A lot of countries strictly monitor violators and simply refuse to cooperate. Where there is an official license, we can fully not worry about our deposits.

After that, it will be enough just to replenish your account in the “Cashier” section of your personal account. IQ Option practically does not differentiate its clients by the amount of the deposit. There is only a classic and VIP account, which is assigned when depositing funds from $ 3000. Also on the site there are no welcome bonuses or bonuses when replenishing how to make money on the account currency exchange. When choosing a broker, be guided by its rating on the site, working hours on the market, the ratio of positive and negative reviews, and reputation among traders. We understand your doubts, but in turn, we would like to note that if the Company provided a dishonest product, it would not be so popular on the market.

Conclusion

In general, the choice of the best broker for yourself is a very important theme, since you can work with the company in which you trust. You can compare these two huge companies and then you’ll understand that every one of them has its advantages and disadvantages.

IQ Option is better for people, who are interested in trading cryptocoins and different kinds of options. As well as TickMill is better to trade indices, but of course they don’t have so many pluses. 

So definitely we can say that IQ has the best conditions for newbies, since you can start here with only 10 dollars in the United States. 

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Rufus Mekhdi-Smith
Rufus Mekhdi-Smith / article author
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