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Broker Score | Min. Deposit | Regulation | Trading Desk Type | Trading Instruments | Forex Pairs | Crypto Pairs | Pros | Cons | Regulation | Trading Conditions | Trading Platforms | Deposit & Withdrawal | Education & Research | Assets Available | Customer Service | % Lose with this broker | Leverage | Spread | Hedging | Scalping | Account Types | Islamic Account | Trading Platforms | Funding Methods | Trading Commission | ||
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USD 0 | ECN/DMA | Commodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals, WTIs | 70 | 11 |
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| Read Review | 75.6% | 500:1 | 0 pips | Yes | Yes | MT4 Pro Account, MT4 Standard Account | Yes | MT4 | Visa, Mastercard, Bank Transfer, Bitcoin, Neteller, Skrill, Sofort Banking, Giropay | 7 USD / lot - PRO account | ||||||||||
USD 100 | STP | Bonds, Cryptocurrencies, Stock CFDs, Forex, Futures, Indices, Metals | 62 | 8 |
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| Read Review | 71% | 500:1 | 0 pips | Yes | Yes | Classic, Pro, VIP | Yes | MT4, MT5 | Visa, Mastercard, Bank Transfer, Neteller, Skrill, SticPay, Fasapay, Unionpay, NganLuong, WebMoney, Paypal | 4 USD / lot |
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FX Scouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare Tickmill and Axi, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that Axi holds three Tier 1 and two Tier 2 licences, and Tickmill holds two Tier 1 and one Tier 2 licences.
Based on these findings, Axi earned a higher trust rating than Tickmill.
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Tickmill has overall lower trading costs than Axi.
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, Tickmill offers support for and Axi offers support for .
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Axi and Tickmill offer copy trading.
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Axi offers a greater range and depth of instruments to trade than Tickmill. Axi offers 70 Forex pairs to trade and Tickmill offers 62 Forex pairs to trade.
In this case, Axi offers 11 cryptocurrencies while Tickmill offers 8 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Axi.
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that Axi charges a withdrawal fee and Tickmill does not. Overall, 0 has better deposit and withdrawal processes than 0.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Tickmill has better educational support than Axi. Both Axi and Tickmill offer educational support for more experienced traders.
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that 0 offers better research analysis than 0 and that both Axi and Tickmill offer frequent webinars.
A trustworthy broker with MT4 and MT5 support and two of the lowest-cost trading accounts in the industry, Tickmill provides a perfect trading environment for serious beginners and more experienced traders. However, traders from Nigeria will be onboarded through Tickmill’s Seychelles-based entity, which provides less protection than regulators in the EU or Australia.
With three account types on offer, the Pro and VIP accounts have market-leading trading conditions, leaving the fixed-fee classic account feeling out of place. The Pro and VIP accounts have identical spread costs for traders with EURUSD spreads from 0.20 pips. With a 100 USD minimum deposit, the Pro account has a commission of 4 USD (round turn) per 1 lot traded, compared to the professional VIP account with a commission of 2 USD (round turn) and a minimum deposit of 50,000 USD.
Education and market analysis are both excellent and experienced traders will appreciate the wide range of currency pairs.
Overall, while Tickmill’s standard account is more expensive than other similar brokers, the two low-cost commission accounts make it an excellent choice of broker for Metatrader users looking for a new broker.
Axi (formerly Axitrader) is an Australian CFD broker regulated by ASIC, the FCA and the DFSA. Axi offers clients CFD trading on Forex, metals, commodities, cryptocurrencies, and indices – a smaller range than most brokers but with a good selection of 70+ Forex pairs. Axi accounts offer clients industry competitive trading costs – the Standard Account (from 0.9 pips EUR/USD) and the Pro Account (0.0 pips EUR/USD + 7 USD commission).
Although Axi limits its platform choice to MT4, it offers traders free use of various powerful platform-integrated technical analysis tools, including MT4 NexGen and Autochartist, to help experienced traders and serious beginners make better trading choices. At Axi, beginners have access to high-quality, structured learning material and frequent market analysis – though neither the education nor the market research is as good as the best brokers in this space.