Compare Tickmill vs OctaFx
What is Tickmill? What is OctaFx?
Tickmill is a forex and CFD broker that was founded in 2014 and is regulated by several authorities, including the UK’s FCA, Cyprus’ CySEC, South Africa’s FSCA, Malaysia’s FSA and UAE’s DFSA. Tickmill offers over 700 trading instruments, including 63 forex pairs, on the MetaTrader 4 platform. Tickmill also provides copy trading, education, research and trading contests for its clients.
OctaFX is a forex and CFD broker that was founded in 2011 and is regulated by Cyprus’ CySEC and Seychelles’ FSA. OctaFX offers over 200 trading instruments, including 40 forex pairs, on the MetaTrader 4, MetaTrader 5 and cTrader platforms. OctaFX also provides copy trading, education, research, bonus offers and trading contests for its clients.
Tickmill vs OctaFx Regulation Comparison
| Broker | Trust Score | Year Founded | Publicly Traded | Bank | Tier-1 Licenses | Tier-2 Licenses | Tier-3 Licenses |
|---|---|---|---|---|---|---|---|
| Tickmill | 82/99 | 2014 | No | No | 1 (UK) | 3 (Cyprus, South Africa, UAE) | 0 |
| OctaFX | 69/99 | 2011 | No | No | 0 | 2 (Cyprus, Seychelles) | 0 |
Tickmill vs OctaFx Trading Assets Comparison
| Broker | Forex Trading (Spot or CFDs) | Tradeable Symbols (Total) | Forex Pairs (Total) |
|---|---|---|---|
| Tickmill | Yes | 725 | 63 |
| OctaFX | Yes | 229 | 40 |
Tickmill vs OctaFx Trading Fees Comparison
Both brokers offer variable spreads and charge commissions on some of their account types. The average spreads and commissions for some of the major forex pairs are as follows:
| Broker/Pair | EUR/USD | GBP/USD | USD/JPY |
|---|---|---|---|
| Tickmill Classic (no commission) | 1.6 pips | 2.0 pips | 1.3 pips |
| Tickmill Pro ($2 per lot per side) | 0.2 pips + $4 RT commission = 0.6 pips effective spread | 0.5 pips + $4 RT commission = 0.9 pips effective spread | 0.1 pips + $4 RT commission = 0.5 pips effective spread |
| Tickmill VIP ($1 per lot per side) | 0.2 pips + $2 RT commission = 0.4 pips effective spread | 0.5 pips + $2 RT commission = 0.7 pips effective spread | 0.1 pips + $2 RT commission = 0.3 pips effective spread |
| OctaFX Micro (no commission) | 1.1 pips | N/A | N/A |
| OctaFX Pro ($3 per lot per side) | N/A | N/A | N/A |
| OctaFX ECN ($3 per lot per side) | N/A | N/A | N/A |
Tickmill vs OctaFx Account Types Comparison
Both brokers offer different types of accounts to suit different trading styles and preferences. The main features of each account type are as follows:
Tickmill
- Classic: Minimum deposit $100, variable spreads from 1.6 pips, no commissions, leverage up to 1:500, minimum lot size 0.01, swap-free option available
- Pro: Minimum deposit $100, variable spreads from 0.0 pips, commissions $2 per lot per side, leverage up to 1:500, minimum lot size 0.01, swap-free option available
- VIP: Minimum deposit $50,000, variable spreads from 0.0 pips, commissions $1 per lot per side, leverage up to 1:500, minimum lot size 0.01, swap-free option available
OctaFX
- Micro: Minimum deposit $25, variable spreads from 0.4 pips, no commissions, leverage up to 1:500, minimum lot size 0.01, swap-free option available
- Pro: Minimum deposit $500, variable spreads from 0.3 pips, commissions $3 per lot per side, leverage up to 1:200, minimum lot size 0.01, swap-free option available
- ECN: Minimum deposit $100, variable spreads from 0.0 pips, commissions $3 per lot per side, leverage up to 1:500, minimum lot size 0.01, swap-free option available
Tickmill vs OctaFx Deposit Options Comparison
Both brokers offer a variety of payment methods for depositing and withdrawing funds from their trading accounts. The available options and fees are as follows:
Tickmill
- Credit/debit cards: No fees for deposits or withdrawals, processing time 1 working day for withdrawals
- Wire transfer: No fees for deposits or withdrawals from Tickmill’s side, but banks may charge fees, processing time 1-7 working days for withdrawals
- Neteller: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
- Skrill: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
- UnionPay: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
- QIWI: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
- FasaPay: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
- Crypto and Ethereum: No fees for deposits or withdrawals, processing time within 1 working day for withdrawals
OctaFX
- Credit/debit cards: No fees for deposits or withdrawals, processing time instant for deposits and up to 30 minutes for withdrawals
- Wire transfer: No fees for deposits or withdrawals from OctaFX’s side, but banks may charge fees, processing time up to 3 working days for deposits and up to 5 working days for withdrawals
- Neteller: No fees for deposits or withdrawals, processing time instant for deposits and up to 30 minutes for withdrawals
- Skrill: No fees for deposits or withdrawals, processing time instant for deposits and up to 30 minutes for withdrawals
- WebMoney: No fees for deposits or withdrawals, processing time instant for deposits and up to 30 minutes for withdrawals
- Crypto: No fees for deposits or withdrawals, processing time instant for deposits and up to 30 minutes for withdrawals
Tickmill vs OctaFx Trading Platforms Comparison
Both brokers offer MetaTrader 4 (MT4) as their main trading platform. MT4 is a popular and user-friendly platform that supports automated trading with expert advisors (EAs), custom indicators and scripts. MT4 also provides advanced charting tools, market news and analysis.
In addition to MT4, OctaFX also offers MetaTrader 5 (MT5) and cTrader as alternative trading platforms. MT5 is an upgraded version of MT4 that supports more instruments, order types and indicators. cTrader is a web-based platform that offers a sleek interface, fast execution and depth of market (DOM) information.
Tickmill vs OctaFx Analytical Tools Comparison
Both brokers provide various analytical tools to help traders with their market research and trading decisions. Some of the tools are as follows:
Tickmill
- Economic calendar: A tool that displays the upcoming economic events and their impact on the markets
- Forex calculators: A set of calculators that help traders calculate the margin, pip value, swap and commission of their trades
- Autochartist: A tool that scans the markets and identifies trading opportunities based on technical analysis patterns and indicators
- Myfxbook AutoTrade: A tool that allows traders to copy the trades of successful traders from the Myfxbook community
- VPS service: A service that provides traders with a virtual
OctaFX
- Economic calendar: A tool that displays the upcoming economic events and their impact on the markets
- Forex calculators: A set of calculators that help traders calculate the margin, pip value, swap and profit/loss of their trades
- Trading signals: A tool that provides traders with buy and sell signals based on technical analysis and market sentiment
- Copy trading: A tool that allows traders to copy the trades of successful traders from the OctaFX community
- Market insights: A tool that provides traders with daily market analysis, news and commentary from OctaFX experts
Tickmill vs OctaFx. Which forex broker is better? Which forex broker should you choose?
Different brokers can suit different traders depending on their trading style, preferences and needs. However, you can consider several factors when choosing a forex broker:
- Regulation: Tickmill has a higher trust score and more tier 1 licenses than OctaFX, which may indicate a higher level of security and protection for your funds.
- Trading assets: Tickmill offers more trading instruments and forex pairs than OctaFX, which can give you more trading and diversification opportunities.
- Trading Fees: Both brokers offer variable spreads and charge commissions on some of their account types. Average spreads and commissions may vary depending on market conditions and the account type you choose. You may want to compare effective spreads and commissions for the instruments and account types you wish to trade.
- Account Type: Both brokers offer different account types with different features and requirements. You may want to choose an account type that suits your trading capital, risk tolerance, leverage preference, and trading strategy.
- Deposit and Withdrawal Options: Both brokers offer various payment methods with no fees on their part. However, some methods may have longer processing times or third-party fees. You may want to choose a payment method that is convenient, fast, and cost-effective for you.
- Trading Platform: Both brokers offer MetaTrader 4 as their main trading platform. However, OctaFX also offers MetaTrader 5 and cTrader as alternative platforms. You may want to choose a platform that is compatible with your device, supports your preferred trading tools and features, and offers a user-friendly interface and fast execution.
- Analytical Tools: Both brokers offer a variety of analytical tools to help you research the market and make trading decisions. You may want to choose a broker that offers useful tools and best suits your trading style and goals.
Ultimately, the best forex broker for you is the one that meets your expectations and preferences. You may want to try the demo accounts of both brokers to test their services and platforms before opening a real account. You may also want to read some reviews and testimonials from other traders who have used both brokers to get some feedback and insights.
