IC Markets vs Tickmill: lowest commission raw accounts

IC Markets vs Tickmill: the short answer

If the lowest commission is what you're after, Tickmill wins: $6 round turn per lot on its Raw account against IC Markets' $7. But IC Markets is the more complete choice for most raw-spread traders. It publishes a 0.1-pip average EUR/USD spread (Tickmill only publishes "from 0.0"), offers far more instruments (2,850+ against 180+) and adds cTrader, and it scores higher overall. Choose Tickmill if you want FCA regulation, a $100 minimum deposit or the cheapest commission line.

Quick verdict

IC Markets scores 88/100 (rank #4) and Tickmill 84/100 (rank #6) under our methodology. Tickmill scores higher on regulation (32/35 against 30/35). IC Markets leads on costs (24/25 against 23/25), platforms (14/15 against 13/15) and track record (13/15 against 9/15). Both score 7/10 for access. Figures were verified November 2026.

Commission and spread costs

IC Markets' Raw account averages 0.1 pips on EUR/USD with $7 round-turn commission on MT4 and MT5. Tickmill's Raw account quotes EUR/USD from 0.0 pips with $6 round-turn commission, one of the lowest we track.

The catch is that Tickmill publishes no average spreads, only a minimum. A "from 0.0" spread is a best case, and you won't pay it on every trade. That means we can verify Tickmill's commission advantage but not its all-in cost.

Worked example: one standard lot of EUR/USD

One pip on a 100,000-unit lot is worth $10 (100,000 × 0.0001). Check other sizes with the pip value calculator.

• IC Markets Raw: 0.1 pips × $10 = $1 spread, plus $7 commission = $8 per round turn on average.
• Tickmill Raw: $6 commission plus the spread. At the 0.0-pip minimum that's $6 per round turn; if Tickmill's spread averaged the same 0.1 pips as IC Markets, it would be $7.

The commission gap alone is $1 per lot. At 100 lots a month that's $100 (100 × $1) in Tickmill's favour, or $1,200 a year. Whether that saving holds depends on Tickmill's typical spread, which isn't published. For scalpers placing many small trades, these differences matter most; see our scalping strategy guide, and our explainer on what a spread is.

Regulation and safety

Tickmill is licensed by the FCA (717270), CySEC (278/15), the DFSA (F007663) and the FSCA (49464), with an offshore entity regulated by the FSA Seychelles (SD008). Our records note that Tickmill's global accounts are offered by its Seychelles entity with leverage up to 1:1000. UK and EU clients are covered by the FCA and CySEC.

IC Markets is licensed by ASIC (AFSL 335692) and CySEC (362/18), with an offshore entity regulated by the FSA Seychelles (SD018). Its global site (now ic.com) onboards clients through Raw Trading Ltd, regulated by the FSA Seychelles, with leverage up to 1:5000. That is far above top-tier limits, and offshore entities offer fewer protections.

The pattern is the same for both: strong top-tier licences, but most international clients end up with a Seychelles entity. Retail leverage is capped at 30:1 under the top-tier regulators. Read leverage and margin explained before using anything higher, and check which entity is named on your account agreement.

Platforms

IC Markets offers MT4, MT5, cTrader, TradingView, IC Social and ZuluTrade. Tickmill offers MT4, MT5, TradingView and its own Tickmill Trader platform. If you want cTrader or built-in copy trading, IC Markets is the one to pick.

Instruments and deposits

IC Markets lists 2,850+ instruments; Tickmill offers 180+, a much narrower range. Tickmill's minimum deposit is $100, half of IC Markets' $200. Neither broker accepts US residents.

Track record

IC Markets was founded in 2007 in Sydney. Our Tickmill record lists offices in London, Limassol, Dubai, Johannesburg and Seychelles but does not give a founding year, so we can't compare their histories directly. Tickmill scores 9/15 for track record against IC Markets' 13/15.

Who should choose each

Choose IC Markets if

• You want a published average raw spread so you know your typical cost.
• You trade beyond major forex pairs and want 2,850+ instruments.
• You use cTrader, IC Social or ZuluTrade.

Choose Tickmill if

• Commission per lot is your main cost driver and you want the $6 round-turn rate.
• You are in the UK and want an FCA-regulated account.
• You want to start with $100 rather than $200.

Concerns to weigh

• IC Markets: the global site defaults to the offshore Seychelles entity, official pages give conflicting standard-account spreads, and it isn't available to US residents.
• Tickmill: a smaller range (180+ instruments), global clients served by the offshore entity, and no published average spreads.

Read the full IC Markets review and Tickmill review, or compare all rated brokers on our brokers page.

Sources

Figures verified November 2026 from WizardTrader's broker records, which cite these provider pages:

• IC: regulation
• IC Markets EU: regulation
• IC: Raw Spread account
• IC: spreads
• Tickmill: licences and regulation
• Tickmill: accounts overview
• Tickmill: why Tickmill

Trading involves substantial risk of loss and is not suitable for every investor. CFDs and leveraged forex can lose money rapidly, and you can lose more than you expect if you use high leverage. This page is general information, not financial advice, and nothing here promises a profit. Rankings are editorial and not paid. Read our risk disclaimer and advertiser disclosure.