Overview of Tickmill fees and charges
It's safe to say that Tickmill's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use Tickmill even in case you trade frequently like multiple times a week or daily.
Here's a high level overview of Tickmill's fees
|Assets||Fee level||Fee terms|
|US stock fee||-||Not available|
|EURUSD fee||Low||Pro account pricing: €2 commission per trade per lot plus spread cost. 0 pips is the average spread cost during peak trading hours.|
|US tech fund fee||-||Not available|
|Inactivity fee||Low||No inactivity fee|
Disclaimer: 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Tickmill fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.
This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:
- Trading fees - these are brokerage fees that you pay when you actually do a trade. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
- A commission is either based on the traded volume or it is fixed.
- A spread is the difference between the buy price and the sell price
- Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.
We compare Tickmill fees with its closest competitors, Oanda and Rakuten Securities.
Tickmill trading fees
Tickmill's trading fees are low which makes it suitable for you even if you trade often (i.e. multiple times a week).
Let's break down the trading fees into the different asset classes available at Tickmill.
Tickmill's trading fees are low.
It is super hard to compare trading fees for forex brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of an example trade for two currency pairs.
- EURUSD, a popular currency pair
- EURGBP, another popular currency pair
The example in this context would mean that you buy for $20,000 using 30:1 leverage, and sell it after a week.
This super catch-all benchmark includes spreads and financing costs for all brokers.
Here is the verdict.
|EURUSD benchmark fee||$5.1||$7.9||$1.8|
|EURGBP benchmark fee||$6.6||$9.6||$4.2|
Tickmill financing rates are low.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
|Apple CFD financing rate||-||-||-|
|Vodafone CFD financing rate||-||-||-|
|EURUSD financing rate||1.1%||1.7%||0.2%|
|EURGBP financing rate||1.3%||1.8%||0.5%|
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Currency conversion fee
Tickmill will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..
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Tickmill non-trading fees
When it comes to looking at all the non-trading fees Tickmill is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.
Non-trading fees include various brokerage fees and charges at Tickmill that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
Tickmill deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Tickmill is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Tickmill offers.
Tickmill withdrawal fee
Unlike some online brokers we have reviewed Tickmill does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
|Withdrawal fee with bank transfer||$0||$0||$25|
Tickmill inactivity fee
Tickmill does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).