Forex traders are constantly looking for a better broker with excellent services to suit their strategies and trading preferences. With over a thousand online forex brokers, making the right choice is becoming an uphill task. Both Tickmill and JP Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. Tickmill is regulated in 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. On the other hand, JP Markets is regulated by FSB , FSCA. Each of the brokers has its strengths and weaknesses.
In this review, we will analyze and compare the two brokers. We will also explore fees, features, trading platforms, and the pros and cons of each broker to enable traders to make the right choices.
Tickmill vs JP Markets: In a Nutshell
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
- 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
JP Markets
Founded in 2006, JP Markets is a South Africa-based forex and CFD broker that offers online trading services. The platform provides access to the MetaTrader 4 and Mobile forex trading platforms. JP Markets.co.za offers over 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies for investment and trading options. However, the broker lacks regulation from other top-tier regulatory authorities like ASIC, CySEC, FCA, etc.
JP Markets Overview
- Founded In: 2016
- Minimum Deposit: $1
- Maximum Leverage: 500:1
- Regulations: FSCA
- Trading platform: MT5
- Account Types: Standard, Premium, VIP, Islamic
- Payment Options: VISA, MasterCard, iPay, Local Bank Transfers, M-Pesa, PayFast, Skrill, SnapScan
- US Traders: Not Accept
Tickmill vs : JP Markets 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
JP Markets
- Trading Instruments: A variety of trading instruments including, forex, 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies
- Maximum Leverage: The maximum leverage of JP Markets is 3000:1. However, leverage may vary based on account type, tradable assets, or jurisdiction.
- Minimum Deposit: The minimum deposit of JP Markets is R100
- Account Types: Five Account Types ( Premium, VIP, Islamic, Zero Stop Out, ZPM Bonus 300)
- Trading Fees: spreads starting from 0.5 pips for VIP Account, 1 Pip for Premium Account, 1.5 pips for Islamic Account, 3 pips for Zero Stop Out Account, and 2 Pips for JPM Bonus Account.
- PAMM/ MAM: Not available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Tickmill vs JP Markets: Pros and Cons
Tickmill
- 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
JP Markets
- Regulated by FSB, South Africa.
- The maximum leverage is as high as 2000:1.
- The minimum deposit is as low as $1.
- Offers MT5 Trading platforms.
- 5000+ Trading Instruments including Forex, Stocks, Indices, Commodities, and Cryptos.
- Same Day Deposits and Withdrawals.
- Offers Bonus based on account Types.
- Demo accounts are available.
- Free courses and webinars are available.
- Not regulated by top-tier regulatory authorities such as FCA, ASIC, CySEC, etc.
- Lack of Transparency
- Mainly aimed at South African clients
- Scalping, hedging, and automated trading are not permitted
- Limited choice of trading platforms (Only Metatrader)
- Spreads are sometimes wide
- Requires the monitoring of functionality
Tickmill vs JP Markets: Side-by-Side Comparison
Tickmill Vs JP Markets: Our Scores and Ratings
We rated both brokers, Tickmill and JP Markets, 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 :
JP Markets
Final Verdict :
Tickmill and JP Markets are forex and CFD brokers. They offer similar trading services. Both brokers allow scalping, EA trading, Copy Trading, hedging, etc. The minimum lot size for both brokers is as low as 0.01.
However, there are differences in some areas. For example, the minimum deposit for Tickmill is $100, whereas the minimum deposit for JP Markets is $1. Additionally, the maximum leverage for the Tickmill is 500:1. In contrast, the maximum leverage for JP Markets is 2000:1.
Our score for Tickmill is 8.9, and for JP Markets, it is 6.2 So, if you are looking for the most trusted forex brokers with low spreads, you may choose Tickmill. However, If you prefer a lower minimum deposit forex broker that offers similar services, you may choose JP Markets.
