Forex traders always look for trading with brokers that suit their trading needs and preferences. Tickmill and EagleFX are online forex brokers that offer their trading services to traders and investors. Tickmill is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, one tier-2 jurisdiction, one tier-3 jurisdiction and one tier-4 jurisdiction. On the other hand, EagleFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by Tickmill and EagleFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
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.
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
EagleFX
Founded in 2020, EagleFX is a forex and CFD broker offering online trading services globally. It is an unregulated offshore forex and CFD broker that operates without regulatory oversight. The broker offers over 200 forex and CFD instruments through the MT4 platform and allows various trading strategies, including scalping, hedging, and news trading.
EagleFX provides access to institutional-grade liquidity through partnerships with multiple liquidity providers. This setup helps traders access tight spreads and competitive pricing. The broker uses a Straight Through Processing (STP) model, ensuring trades are executed without a dealing desk, re-quotes, or price manipulation. Orders are aggregated and matched with the best available rates in fractions of a second.
EagleFX allows crypto deposits and withdrawals without extra fees. It offers 24/7 customer support through live chat, email, and phone. However, traders should understand the risks of using an offshore broker without investor protection.
- Founded In: 2019
- Minimum Deposit: $10
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4 , Webtrader
- Account Types:
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
- US Traders: Currently Not Accepted. However, Old traders can still trade.
Tickmill vs: EagleFX Features
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
EagleFX
- Trading Instruments: 100+ instruments including Forex, commodities, stocks, indices, futures, and cryptocurrencies
- Trading Platforms: Mt4, Webtrader
- Minimum Deposit: $10(BTC), $50 Credit or Debit card, Bank wire transfer,
- Maximum Leverage: 1:500
- Trading Fees: Commission $6 round turn per lot. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Credit/Debit Card and Wire Transfer
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 70%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Applicable For: Applicable to traders of all jurisdictions.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
Tickmill vs EagleFX: Pros and Cons
Tickmill Pros & Cons
- 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
- 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
EagleFX Pros & Cons
- The maximum leverage is as high as 1:500
- The minimum deposit is as low as $10
- Scalping Hedging, News trading, and the use of trading robots are allowed
- Speedy STP trade executions in less than a second.
- Over 150 trading instruments can be traded on the platforms.
- Offers free demo accounts
- The round-turn commission is $6, which is low and competitive compared to others.
- Zero Fees on Deposit and Withdrawal
- Offers Crypto CFD Trading
- The broker is not regulated
- No investor protection scheme for traders
- No managed accounts, social trading, or any provision for investors.
- Limited Deposit and Withdrawal Options
- Ctrader, Zulutrade, and Tradingview are not available
- There are no educational resources
Tickmill vs EagleFX: Side-by-Side Comparison
Tickmill Vs EagleFX: Our Scores and Ratings
We rated both brokers, Tickmill and EagleFX, 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.
Tickmill :
EagleFX
Final Verdict :
Both Tickmill and EagleFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Tickmill is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FCA , CySEC, FSA-S, FSA(Labuan) and FSCA. On the other hand, EagleFX is an unregulated offshore forex broker. Tickmill provides Multiple trading platforms including MT4, MT5. On the Contrary, EagleFx offers MT4.
As Tickmill is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, EagleFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Tickmill, while US traders looking for offshore forex brokers may consider EagleFX. Trading with offshore forex brokers is risky and not recommended.
