Pepperstone vs Tickmill: Comparison and Analysis

Pepperstone vs Tickmill: A Comparison of Two Brokers

Pepperstone and Tickmill are both reputable brokers with several similarities and differences in their services. In this comparison, we will examine their security, demo accounts, account opening, social-copy trading, markets, trading fees, platforms, education, and customer care.

Security

Both Pepperstone and Tickmill are regulated by several regulatory bodies, ensuring that clients’ funds are protected. Pepperstone is regulated by FCA, ASIC, DFSA, CySEC, SCB, and CMA, while Tickmill is regulated by FCA, CySEC, FSCA, FSA, and Labuan FSA. Both brokers have a security rating of 94, making them safe options for traders.

Demo Accounts

Pepperstone offers a 30-day demo account for MT4 and MT5 accounts and an unlimited demo account for cTrader accounts. The virtual funds are set at $50,000 and can be restored by contacting customer support. On the other hand, Tickmill offers an unlimited demo account that can be customised by the trader. The virtual funds can also be restored by contacting customer support.

Account Opening

Pepperstone doesn’t have a minimum deposit requirement, but it suggests a minimum deposit of $200. Traders can choose from over ten base currencies, including USD, EUR, AUD, and GBP. Payment methods include wire transfers, credit/debit cards, eWallets, and several local payment methods. Pepperstone offers a variety of account types, including the Standard account, Razor account, Spread Betting account, MAM/PAMM account, and Professional account.

Tickmill requires a minimum deposit of $100 and offers account currencies in USD, EUR, GBP, and PLN. Payment methods include wire transfers, credit/debit cards, e-wallets, and local payment methods. Account types offered include the Classic account, Pro account, VIP account, Futures account, MAM account, Islamic account, and Professional account for experienced traders.

Social-Copy Trading

Pepperstone allows copy-social trading through third-party platforms such as Duplitrade and Myfxbook. On the other hand, Tickmill offers copy-social trading through the Pelican trading mobile platform, but it is only available on the MT4 platform.

Markets

Pepperstone offers a wide range of markets, including forex, commodities, indices, crypto assets, and stocks. The broker provides CFD trading only, making it more suitable for short-term trading. In contrast, Tickmill offers forex, commodities, and indices, and it doesn’t provide crypto assets and stocks trading. Tickmill also offers CFD trading only, making it more suitable for short-term trading.

Trading Fees

Pepperstone’s spreads are variable, starting from 0 pip on forex, which is lower than the market average. Commissions per lot traded can go up to $7, and stock commissions are variable. Pepperstone’s low spreads and commissions make it a good option for scalping.

Tickmill’s spreads are variable, starting from 0.1 pips on forex, depending on the account type chosen. Commissions per lot traded are $4 on the Pro account and $2 for the VIP account.

Platforms

Pepperstone offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, available on desktop, webtrader, and mobile devices. All platforms allow traders to engage in algo trading, and Pepperstone offers VPS services.

Tickmill offers MT4 and MT5 platforms available on desktop, webtrader, and mobile devices.

Education/Customer Care

Pepperstone provides a range of educational material, including webinars, but most of the content is geared towards beginner traders. Customer care is easy to contact via email, telephone, and live chat, with over 12 languages available. Pepperstone won the “Best Customer Service in Europe” award in 2019.

Tickmill provides clients with access to webinars, video tutorials, educational articles, and market analysis. Customer care is also easy to contact via email, phone, and live chat, with 14 languages available.

Conclusion

In conclusion, both Pepperstone and Tickmill are reputable brokers that offer a range of trading services. Pepperstone has a wider range of markets and account types, while Tickmill provides copy-social trading through the Pelican trading mobile platform. Pepperstone has lower spreads and commissions, making it suitable for scalping, while Tickmill offers lower commissions on its Pro and VIP accounts. Ultimately, the choice between these two brokers will depend on the trader’s specific trading needs and preferences.