Oanda vs Tickmill | Compare Pros, Cons and More for 2023

Published :
Updated :
Written by

Oanda and Tickmill are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. Oanda is regulated by three tier-1, two tier-2, and two tier-4 jurisdictions, including the FCA, ASIC, CySEC, DFSA, CMA, and SCB. On the other hand, Tickmill is regulated by two tier-1 jurisdictions, one tier-2 jurisdiction, one tier-3 jurisdiction and one tier-4 jurisdiction including FCA , CySEC , FSA-S ,FSA (Labuan) and FSCA. These two brokers offer almost similar services. However, each broker has its own strengths and weaknesses.

In this article, we will compare Oanda with Tickmill regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if Oanda is better than Tickmill and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.

Oanda vs Tickmill: In a Nutshell

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3,000 forex pairs, CFDs, and even real stocks. The broker is regulated by top regulatory authorities including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, and FSC in BVI. Oanda offers multiple trading platforms such as MT4, MT5, the fxTrade app, and TradingView. Oanda is also known for its currency transfer services as well as its MarketPlus trading analytics. To learn more, you can read our review on Oanda, where we cover features, pros, cons, and more

Oanda Overview

Oanda Overview
  • Founded In: 1996
  • Founder:  Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
  • Headquarters: New York, United States
  • Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
  • Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
  • Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
  • Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
  • Trading platform: MT4, MT5, fxTrade app, Tradingview
  • Account Types: Standard, Elitetrader
  • Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
  • US Traders:  Accepted 

Tickmill

Co-founded by Ingmar Mattus, Illimar Mattus, and Nikolai Nikolajenko in 2014, Tickmill is a forex and CFD broker that offers online trading services to traders and investors worldwide. The current CEO of Tickmill is Sudhanshu Agarwal. The company has offices in the UK, Cyprus, South Africa, Seychelles, and Malaysia. Tickmill offers trading services in forex, stock indices, commodities, cryptocurrencies, bonds, and stocks. The company provides its services to both institutions and individual clients worldwide. Tickmill is regulated by top regulatory authorities including FCA, CySEC, FSA, FSA (Labuan), and FSCA. The broker offers a wide range of trading platforms and tools including MT4, MT5, WebTrader, an economic calendar, VPS, Capitalise.ai, a forex calculator, and more. To learn more, you can read our review on Tickmill.

Tickmill Overview

Tickmill Overview
  • Founded In: 2014
  • Founder: Ingmar Mattus
  • Headquarters: London, England
  • Minimum Deposit: $100
  • Maximum Leverage: 1:500
  • Regulations: FCA, CySEC, FSA, FSA (Labuan), and FSCA.
  • Trading platform:MT4, MT5, WebTrader Platform, MetaTrader for Mac , Tickmill Mobile App
  • Account Types: Classic, Pro, VIP, Demo, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, Globe Pay, Local Bank Transfers, Neteller, Ngan Luong, Qiwi, Skrill, SticPay, UnionPay
  • US Traders: Not Accept

Oanda vs Tickmill: Features

Oanda:

  • Trading Instruments: CFD trading is not allowed for US clients; however, non-US clients can trade CFDs
  • Maximum leverage: The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
  • Minimum Deposit: No Minimum Deposit. 
  • Account Types: Two (Standard, Elitetrader) 
  • Trading Fees:  Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
  • PAMM/ MAM:  
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

Tickmill

  • Trading Instruments: A wide range of trading instruments including  Forex, Stock Indices, Commodities, Bonds, Cryptocurrencies, Stocks
  • Maximum leverage: The maximum default leverage is 500:1. However in some countries or tradable assets the broker offers 1000:1 leverage. 
  • Minimum Deposit: $100 or equivalent for all account types. 
  • Minimum Withdrawal: $25 or equivalent. 
  • Trading Fees: Spreads start from 1.6 pips for the Classic Account (no commission). The Raw Account has a spread of 0.0 pips with a commission of $3 per lot per side.
  • Account Type: Two ( Classic Account, Raw Account) 
  • PAMM/ MAM: Available
  • Scalping: Allowed 
  • News Trading: Allowed 
  • EA/ Robot: Allowed

Oanda vs Tickmill: Pros and Cons

Oanda

Pros
  • Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
  • Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
  • Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
  • Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
  • Customer support is provided in multiple languages and via different channels.
  • Fast and user-friendly account opening
  • The TradingView platform is available, alongside several VPS services for MT4 hosting.
Cons
  • Bank withdrawals incur a fee which is transferred to the trader.
  • Premium core accounts require a minimum balance of $20,000
  • Inactivity fees are charged from dormant accounts.
  • No account protection for U.S. clients
  • No guaranteed stop-losses for U.S. or U.K. clients
  • Traders in the U.S. cannot access single-stock CFDs
  • No cent accounts, bonus programme for beginner traders

Tickmill

Pros
  • Regulated by FCA, CySEC, FSA, FSA-S, FSCA etc 
  • The Maximum Leverage is as high as 1:500
  • Spread starts as low as 0.0 Pips 
  • Fast and Easy Account Opening 
  • Allows scalping, EA/Robot trading, news trading
  • Offers MAM account for passive investors 
  • No fees for Deposit and Withdrawal
Cons
  • You can not deposit less than $100. 
  • Does not offer popular trading platforms like MT5, cTrader, Tradingview etc
  • No Proprietary Trading Platform Offered
  • PAMM Account is not offered 
  • No cent account for beginners 
  • The minimum deposit of a VIP account is $50000

Oanda vs Tickmill: Side-by-Side Comparison

Oanda
Tickmill
Product
Founded In
Founded In
1996
2014
Founded By
Founded By
Dr. Michael Stumm & Dr. Richard Olsen
Ingmar Mattus
Headquarters
Headquarters
New York, New York, United States
London, England
Regulations
Regulations
ASIC, CFTC, FCA,PFSA,MAS, FSA
FCA, CySEC, FSA, FSA (Labuan), and FSCA.
Min Deposit
Min Deposit
None
$100
Max Leverage
Max Leverage
500:1
1:500
Tradable Assets
Tradable Assets
Forex, Indices , Metals , Shares, Commodities, Cryptocurrencies
Forex , Stock Indices, Commodities,Bonds, Cryptocurrencies, Stocks
Fees
Fees
Spread from 0.8 pips
Spread from 0.0 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, fxTrade app
MT4, MT5, WebTrader Platform, MetaTrader for Mac , Tickmill Mobile App
US Traders
US Traders
Allowed
Not Allowed

Oanda Vs Tickmill: Our Scores and Ratings

We rated both brokers, Oanda and Tickmill, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Oanda :

8.8
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)7
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9.2
Trading Education (5%)7

Tickmill

8.9
Total Score
Regulation and Security (40%)9.5
Fees and Commissions (20%)9
Trading (15%)7.6
Trading tools (10%)8.4
Customer Support (10%)9
Trading Education (5%)9.2

Oanda vs Tickmill: Which One is better?

Now the question comes: is Oanda better than Tickmill, or vice versa? The answer depends on traders’ and investors’ trading styles and preferences. Both Oanda and Tickmill offer similar trading services worldwide. However, there are differences in their features,  regulations, reputation, and operations. Here are the key facts about both brokers. By reviewing these options, you can clearly understand which broker is right for your trading goals

Oanda :

  • Top regulated forex broker accepting both US and non-US clients.
  • No minimum deposit is required; you may deposit as little as $1.
  • The maximum leverage for Oanda is 1:200 (global), 1:50 (US), and 1:30 (EU).
  • Oanda offers a variety of trading tools and platforms, including MT4, MT5, Webtrader, TradingView, and more.
  • Trading fees: Spreads range from 0.1 to 0.6, and commissions range from $3.50 to $4 per lot. Spreads and commissions depend on your account type and the types of tradable assets.
  • Oanda does not offer CFDs to US clients due to regulatory restrictions. 

Tickmill:

  • Tickmill is a forex and CFD broker regulated by FCA, CySEC, DFSA, FSCA, FSA (Luban), FSA (Seychelles), BaFin(Germany), CONSOB (Italy), ACPR (France), CNMV (Spain) 
  • Minimum Deposit: $100 for all types of accounts except VIP accounts. VIP account requires $50,000
  • Maximum leverage: up to 1:500
  • Offers  MT4, MT5, Webtrader, Metatrader for MAC, Tickmill Mobile Apps 
  • The trading fee: spreads starting from 1.6 pips for classic accounts with no commission. $3 per lot per side commission for raw accounts
  • Tickmill does not accept US clients. 

Our score for Oanda is 8.8, and for Tickmill it is 8.9.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment