Compare Tickmill vs FXOpen
What is Tickmill? What is FXOpen?
Tickmill is a forex broker that was founded in 2014 and is regulated by several authorities, including the FCA, CySEC, FSCA and DFSA. Tickmill offers traders access to over 700 CFDs, including 63 forex pairs, as well as social trading and copy trading features. Tickmill has a Trust Score of 82 out of 99 .
FXOpen is a forex broker that was founded in 2003 and is regulated by the FCA, ASIC, CySEC and the Financial Commission. FXOpen offers traders access to over 80 CFDs, including 25 forex pairs, as well as cryptocurrency trading and PAMM accounts. FXOpen has a Trust Score of 80 out of 99.
Tickmill vs FXOpen Regulation Comparison
Both Tickmill and FXOpen are considered average-risk brokers, with an overall Trust Score of 82 and 80 respectively. However, they differ in the number and type of licenses they hold from various regulators. Here is a table that compares their regulatory status:
| Regulator | Tier-1 Licenses | Tier-2 Licenses | Tier-3 Licenses |
|---|---|---|---|
| Tickmill | FCA (UK) | CySEC (Cyprus), FSCA (South Africa), DFSA (UAE) | None |
| FXOpen | FCA (UK), ASIC (Australia) | CySEC (Cyprus) | None |
Tickmill vs FXOpen Trading Assets Comparison
Tickmill offers traders a wider range of trading assets than FXOpen, with over 700 CFDs compared to FXOpen’s 80 CFDs. However, FXOpen has more cryptocurrency options than Tickmill, with 43 crypto pairs versus Tickmill’s 4 crypto pairs. Here is a table that compares their trading assets:
| Asset Type | Tickmill | FXOpen |
|---|---|---|
| Forex Pairs | 63 | 25 |
| Crypto Pairs | 4 | 43 |
| Stocks | Yes | No |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Metals | Yes | Yes |
| Energies | Yes | Yes |
| Futures | No | No |
| Options | No | No |
Tickmill vs FXOpen Trading Fees Comparison
Both Tickmill and FXOpen charge variable spreads and commissions on their trades, depending on the account type and market conditions. The average spread for the EUR/USD pair is 0.2 pips for Tickmill and 0.3 pips for FXOpen, while the commission per lot is $1 for Tickmill and $1.5 for FXOpen. Here is a table that compares their trading fees:
| Fee Type | Tickmill | FXOpen |
|---|---|---|
| Average Spread EUR/USD – Standard Account | 0.2 pips | 0.3 pips |
| Commission per Lot – Standard Account | $1 | $1.5 |
| Minimum Deposit – Standard Account | $100 | $100 |
| Inactivity Fee – Standard Account | None | None |
Tickmill vs FXOpen Account Types Comparison
Tickmill offers three main account types: Classic, Pro and VIP, while FXOpen offers four main account types: Micro, STP, ECN and Crypto. The Classic account has no commissions but higher spreads, while the Pro and VIP accounts have lower spreads but charge commissions. The VIP account also requires a minimum balance of $50,000.
FXOpen’s Micro account has very low minimum deposit ($1) but high spreads and commissions, while the STP account has no commissions but higher spreads. The ECN and Crypto accounts have lower spreads but charge commissions based on volume traded.
Both brokers also offer Islamic accounts that comply with Sharia law, as well as demo accounts for practice trading.
Tickmill vs FXOpen Deposit Options Comparison
Both Tickmill and FXOpen offer a variety of payment methods for depositing and withdrawing funds from their accounts, including credit/debit cards, wire transfer, e-wallets and cryptocurrencies. However, they differ in the fees and processing times they charge for each method.
Tickmill does not charge any fees for deposits or withdrawals, except for wire transfers, which may incur bank fees. The processing time for deposits is instant for most methods, except for wire transfers, which may take up to 5 business days. The processing time for withdrawals is 1 business day for most methods, except for wire transfers, which may take up to 10 business days.
FXOpen charges fees for some deposit and withdrawal methods, depending on the currency and amount involved. The processing time for deposits is instant for most methods, except for wire transfers, which may take up to 3 business days. The processing time for withdrawals is 1 business day for most methods, except for wire transfers, which may take up to 5 business days.
Tickmill vs FXOpen Trading Platforms Comparison
Both Tickmill and FXOpen use the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as their main trading platforms. These platforms are widely used and popular among forex traders, as they offer advanced charting tools, technical indicators, automated trading, custom indicators and scripts, and a user-friendly interface.
However, FXOpen also offers its own proprietary platform called TickTrader, which is a web-based platform that allows traders to trade forex, CFDs and cryptocurrencies from any browser. TickTrader has a similar interface to MT4/MT5, but also offers some additional features, such as depth of market, one-click trading, social trading and copy trading.
Tickmill vs FXOpen Analytical Tools Comparison
Both Tickmill and FXOpen provide traders with various analytical tools to help them with their trading decisions, such as market news, economic calendar, trading signals, webinars, articles and videos. However, Tickmill has more educational resources than FXOpen, such as free ebooks, guides and courses.
Tickmill also offers a free VPS service for traders who deposit at least $5,000 and trade at least 5 lots per month. This service allows traders to run their MT4/MT5 platforms on a remote server with high-speed internet connection and low latency.
FXOpen does not offer a free VPS service, but it does offer a rebate program for traders who trade high volumes. This program allows traders to earn cashback on their trades, depending on their account type and trading volume.
Tickmill vs FXOpen. Which forex broker is better? Which forex broker should you choose?
Different brokers may suit different traders depending on their preferences, goals and strategies. However, you can consider several factors that can help you decide which broker to choose, such as:
- Regulations and broker reputation
- Range and variety of trading assets
- Cost and efficiency of transaction fees
- Suitability and convenience of account types
- Availability and security of payment methods
- Functions and compatibility of trading platforms
- Quality and quantity of analytical tools
Ultimately, the best forex broker for you is the one that meets your needs and expectations, and makes you feel comfortable and confident when trading. You can also try out their demo account or minimum deposit account to test their service before committing to larger investments.
