Is Tickmill better than IC Markets? Who offers lower spread, better trading conditions and is safer broker to trade?

We provide answers to all questions in this Tickmill vs IC Markets Comparison Review. For this Review we opened real accounts and deposit over $6,000 in total to compare both offerings, account opening process at Tickmill vs IC Markets, also the fees, trading conditions, platform selection and withdrawal process.   

tickmill vs ic markets

What is Tickmill and IC Markets

Tickmill is a global Forex and CFDs broker, founded in 2014.

IC Markets is an Australian Forex and CFDs broker founded in 2007, headquartered in Sydney, Australia.

Some of the highlights of Tickmill vs IC Markets are:

TickmillIC Markets
🛡️ Founded year20142007
🏦 HeadquarterLondonAustralia
🗺️ Authorized & Regulated inThe UK, Cyprus, South Africa, Seychelles, LabuanAustralia, Cyprus, Seychelles, Bahamas
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.631.02
💳 Minimum depositUS$100US$200
💰 Withdrawal feeUS$0$0
🖥️ Trading PlatformMetaTrader 4MetaTrader 4, MetaTrader 5, cTrader
📈 Markets offeredForex, Commodity, Indices & BondsForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products85559
🔎 Our Detailed ReviewTickmill ReviewIC Markets Review

Licenses and Regulation

Tickmill vs IC Markets are both safe to trade and are highly reliable, low-risk trading Brokers due to regulations and are not a scam.

Tickmill is regulated by Financial Conduct Authority (FCA) and CySEC.

IC Markets is licensed by Cyprus’ CySEC, Seychelles’ FSA, and the Bahamas’ SCB.

For this review, we opened an account with Tickmill UK Ltd, regulated by FCA and with IC Markets (EU) Limited, licensed by the CySEC

We recommend that you open your account with the Tickmill UK entity since it provides compensation of up to £85,000 if the broker goes bankrupt and with the IC Markets Australian or Cyprus entities if either is available to you.

 TickmillIC Markets
🔒 LicensesFCA,
Top Tier License✔️✔️
Publically Traded
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

Tickmill vs IC Markets Fees

Tickmill vs IC Markets fees are similar, built into a spread basis, and both have commission-based accounts.

Tickmill charges low fees for stock index trades, while forex and commodities fees are average to high.

Most of the account types offered by IC Markets have very low spreads and do not charge a commission. Only the Raw Spread Account charges a commission.

 Tickmill FeesIC Markets Fees
Fees Based on Spread✔️✔️
Floating Spread✔️✔️
Fixed Spread
Commission Based Fees✔️
Inactivity Fee$0$0
Deposit Fee$0 $0
Withdrawal Fee$0 $0
Active Trader/ VIP Programs✔️✔️

Spreads Charged in Our Trades

For our test trades on Tickmill vs IC Markets accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread and we were able to find both negative and positive sides for each Broker spreads.

Comparing the spreads charged in our trades to industry benchmarks, we found the Tickmill spread on stock indices to be quite low, but the spreads on Forex and commodities were in-line with industry averages or higher.

Through our testing we found that IC Markets spreads were generally low. The fees charged for trading indices, Forex pairs, commodities and cryptocurrencies were much lower than industry averages.

MarketsInstruments Tickmill commissionIC Markets commissionIndustry avg. spread
IndicesFTSE 1001.001.11.65

Account Types Compared

Tickmill offers 3 account types: the Pro, Classic, and VIP accounts. The broker also offers swap-free forex accounts.

IC Markets offers 4 account types with slightly different features: the Standard account, cTrader raw spread account, the Raw spread account, and the Islamic account.

Tickmill account opening is fast and straightforward. The registration process took about 20 minutes and our account was approved in a day, which was impressive.

IC Markets account opening is quick and seamless. The registration process took exactly 14 minutes, and our account was approved in one working day.

 Tickmill AccountsIC Markets Accounts
Standard Account✔️✔️
ECN / Commission Based Account✔️
Islamic Account✔️✔️
PAMM Account

Markets and Products

Tickmill vs IC Markets both offer a large variety of tradable instruments.

At Tickmill, you can trade CFDs on Forex, stock indices, commodities, and German government bonds. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and options are missing.

IC Markets offers a wide variety of tradable instruments in the Forex, indices, stocks, commodities and cryptocurrencies markets.

MarketsTickmill InstrumentsIC Markets Instruments

Trading Conditions

The trading conditions both at Tickmill vs IC Markets are great. Both traders allow high-risk strategies such as hedging and scalping.

Trading MethodTickmillIC Markets
Hedging✔️ ✔️
Scalping✔️ ✔️
Change Leverage✔️
Copy-trading/ Social trading✔️
Beginners Trading✔️
Professional Trading

Deposit and Withdrawal

Tickmill processes client withdrawals quite fast with zero charges on each withdrawal. IC Markets does charge an AUD $20 fee on international bank transfer withdrawals.

Both Tickmill vs IC Markets’ clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill and Neteller. IC Markets also accepts PayPal.

All the deposit methods offered by Tickmill are instant and free, except for bank transfers, which take 1 working day and usually incur a $25 fee charged by the bank.

We have tested the deposit process on IC Markets using multiple payment modes. Both deposit and withdrawal processes on IC Markets are quick and simple.

TickmillIC Markets
💰 Deposit Fee
💰 Withdrawal fee$0$0 ($20 for international bank withdrawals)
💳 Minimum depositUS$100US$200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
Neteller✔️ ✔️

Trading Platform

Both Tickmill vs IC Markets offer the popular MetaTrader 4 (MT4) platform and do not have proprietary trading platforms. IC Markets also offers MT5 platform to its clients.

The MT4 platform is decent enough and can be customized to a high degree. However, the design is getting old, and we would have loved to see Tickmill offer MT5, too, which is the newer version of the platform.

Algorithmic traders will find a home with IC Markets, which offers fast execution speeds and guarantees no requotes on submitted trades. The broker’s cTrader platform offers the cAlgo app that algorithmic traders can use. The cTrader Copy app allows for social copy trading.

Tickmill PlatformIC Markets Platform
Proprietary Platform
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
Alternative Platforms
MetaTrader 4✔️ ✔️
MetaTrader 5✔️
Simple to Use Platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model✔️
Advanced Research Tools✔️

Education and Support

Both Tickmill vs IC Markets have a great education offering for beginners.

IC Markets offers a great forex trading course for beginners that covers topics such as technical analysis and trading psychology.

Tickmill does a good job in education offering webinars, seminars, eBooks, video tutorials, etc. Tickmill’s customer support team was helpful and provided relevant answers to our questions.

We found that IC Markets’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics. The broker’s customer support team was quite responsive and resolved our issues.

Tickmill SupportIC Markets Support
Trading School for Beginners✔️✔️
Trading Videos✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️
Email Support✔️✔️
24/7 availability✔️

Conclusion on Tickmill vs IC Markets

Comparing Tickmill vs IC Markets side by side we found both brokers reliable and with good standing. Tickmill allows traders to trade with almost any trading strategy including scalping, which is great for day trading and EA trading. IC Markets provides relatively low spreads and breakneck execution speeds.

Overall, we had a smooth experience with Tickmill starting from the account opening, to the deposit, trading and withdrawal processes.

We recommend Tickmill for traders who run EAs, scalping and prefer the MT4 platform, as well as those interested in trading with FCA-regulated brokers.

Overall, our experience with IC Markets was positive. Our experience with customer support was also good.

We recommend IC Markets to all levels of traders from beginners, intermediate and advanced traders who can all benefit from its services.

TickmillIC Markets
Recommended for✔️ Beginning Traders
✔️ Experienced traders
✔️ Trading Currency Pairs
✔️ EAs trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Scalping trader
✔️ Hedging trader
Might not be fit for
❌ Commission-based trading
❌ Real Stock / Futures Trading
❌ Prefer other platforms rather than MT4
❌ Trading Futures or Real Stocks
❌ Commission-based trading

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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