XM vs Tickmill is a comparison between two brokers that both offer a $30 no deposit bonus — but the similarities are largely superficial. XM (founded 2009, score 8.5/10) targets emerging-market traders with a $5 minimum deposit, broad bonus eligibility, and one of the widest promotional programs in the industry. Tickmill (founded 2014, score 8.0/10) appeals to traders who prioritize ECN-style low spreads and a cleaner execution environment, though its $100 minimum deposit and extensive NDB country restrictions narrow the audience considerably.
This comparison breaks down every factor that matters: bonus terms, regulation, spreads, fees, platforms, and the critical question of whether you can actually claim the $30 NDB from your country. All bonus figures are sourced from the Broker & Bonus Matrix, verified June 2026.
Disclosure: forex-bonus.com may earn a commission when you sign up through our links. This never influences our ratings or analysis. Trading forex carries significant risk — most retail traders lose money. See our full affiliate disclosure and risk warning.
XM vs Tickmill: Side-by-Side Comparison Table
This table covers the core differences at a glance. Each category is explored in the sections that follow.
| Category | XM | Tickmill |
|---|---|---|
| Our Score | 8.5 / 10 | 8.0 / 10 |
| Founded | 2009 | 2014 |
| Top-Tier Regulation | CySEC, ASIC, DFSA, FCA (via Trading.com) | FCA (UK), CySEC (Cyprus) |
| Offshore Regulation | IFSC (Belize), FSCA (South Africa) | FSA (Seychelles), FSCA (South Africa) |
| Minimum Deposit | $5 (Micro/Standard) | $100 (or equivalent) |
| No Deposit Bonus | $30 | $30 |
| Deposit Bonus | 50% up to $500 + 20% up to $4,500 (total max $5,000) | Up to 20% max $1,000 (check broker website for current availability) |
| Trading Platforms | MT4, MT5, XM WebTrader | MT4, MT5, TradingView, Tickmill Trader |
| Spread Model | Variable, spread-only | Variable, ECN-style raw spreads available |
| Typical EUR/USD Spread | From 1.0 pips (Standard), from 0.6 pips (Ultra Low) | From 1.6 pips (Classic), from 0.0 pips (Raw) |
| Leverage (Offshore) | Up to 1:1000 | Up to 1:500 |
| Instruments | 1,000+ (forex, CFDs, stocks, commodities) | 600+ (forex, stock indices, commodities, bonds, crypto) |
| Deposit/Withdrawal Fees | None from XM | None from Tickmill |
| Islamic Accounts | Yes | Yes |
| Loyalty Program | XM Points (XMP) tiered loyalty | Free TradingView subscription (volume-based) |
Spread figures are broker-stated minimums, not measured live averages. Always test spreads on a demo account during the sessions you plan to trade. Instrument counts are approximate and vary by entity.
For broader comparisons, visit the broker comparison hub or use the Bonus Finder to filter offers by type and country.
Regulation Comparison
Regulation is the foundation of broker trust. Both XM and Tickmill hold multiple licenses, but their regulatory depth differs.
XM Regulation
XM operates under six regulatory licenses:
- CySEC (Cyprus) — Trading Point of Financial Instruments Ltd, License 120/10. EU-level investor compensation fund up to EUR 20,000.
- ASIC (Australia) — AFSL 443670. One of the strictest global regulators.
- DFSA (Dubai) — License F003484. Covers UAE operations.
- FCA (UK) — via the Trading.com brand. FSCS protection up to GBP 85,000.
- IFSC (Belize) — XM Global Limited, License 000261/106. The offshore entity serving most emerging-market clients.
- FSCA (South Africa) — Oversees South African operations.
Most traders in Nigeria, India, Indonesia, the Philippines, Pakistan, and Bangladesh trade under XM’s Belize (IFSC) entity. Bonuses are primarily available through XM Global (Belize) and XM Mauritius entities — not through the CySEC, ASIC, or DFSA entities.
Tickmill Regulation
Tickmill holds four regulatory licenses:
- FCA (UK) — Tickmill UK Ltd, Register No. 717270. Full FCA authorization with FSCS protection.
- CySEC (Cyprus) — Tickmill Europe Ltd, License 278/15. EU-level oversight.
- FSA (Seychelles) — Tickmill Ltd, License SD008. The offshore entity where promotions are available.
- FSCA (South Africa) — FSP No. 49464.
All Tickmill promotions, including the Welcome Account NDB, are available only through Tickmill Ltd (FSA Seychelles). Clients under the FCA or CySEC entities cannot access bonus offers due to regulatory restrictions.
Regulation Verdict
XM leads slightly on regulatory breadth with six licenses versus Tickmill’s four, including the addition of ASIC and DFSA. However, Tickmill’s FCA license is a direct authorization (not via a separate brand like XM’s Trading.com arrangement), which some traders may consider more straightforward. For the emerging-market audience reading this comparison, both brokers will onboard you through their offshore entities — XM’s Belize IFSC or Tickmill’s Seychelles FSA. Both structures segregate client funds from corporate funds.
No Deposit Bonus: The $30 NDB Compared
Both XM and Tickmill headline a $30 no deposit bonus, but the terms and country eligibility reveal major differences. This is the comparison that matters most for traders searching “XM vs Tickmill NDB.”
Important: Forex bonuses are not available in the EU, UK, Australia, or the United States due to regulatory restrictions. The offers below apply only to clients registered under offshore entities in eligible regions. Always verify current availability directly with the broker. For more context, see our no deposit bonus guide.
NDB Terms Side by Side
| NDB Term | XM ($30) | Tickmill ($30) |
|---|---|---|
| Volume Requirement | 10 micro lots (0.1 standard lots) + min 5 round-turn trades | No specific lot requirement stated |
| Profit Cap | No profit cap stated — profits fully withdrawable | $100 maximum profit withdrawable (min $30 profit required) |
| Time Limit | Must claim within 30 days of opening account | 60 days trading window + 14 days to claim profit |
| Deposit Required to Withdraw | No | Yes — $100 minimum deposit and verified live account |
| EAs Allowed | No | No |
| Eligible Instruments | Forex, CFDs | All instruments on Tickmill accounts |
| Key Emerging Market Exclusions | None — Nigeria, South Africa, India, Indonesia, Pakistan, Bangladesh all eligible | Nigeria, South Africa, India, Indonesia, Pakistan, Bangladesh, Ghana, Vietnam, Thailand, Brazil, Egypt all EXCLUDED |
| Other Excluded Countries | EU, UK, AU, US, Israel, Iran | EU, UK, AU, US + 25 more countries |
| Account Currency | Multiple (USD, EUR, GBP, JPY, and more) | USD only |
The Critical Difference: Country Eligibility
This is where the comparison breaks apart. Tickmill’s Welcome Account excludes virtually every major emerging market that the forex bonus audience cares about. According to Tickmill’s official promotion page, the following countries are excluded from the $30 NDB:
Nigeria, South Africa, India, Indonesia, Pakistan, Bangladesh, Brazil, Argentina, Colombia, Mexico, Turkey, Egypt, Morocco, Thailand, Vietnam, Ghana, Zimbabwe, Hong Kong, Singapore, Lebanon, Sri Lanka, Libya, Taiwan, Venezuela, Jordan, Algeria, Switzerland, Panama, Syria, and Belarus.
XM’s NDB, by contrast, explicitly includes Nigeria, South Africa, India, Indonesia, Malaysia, the Philippines, Pakistan, Bangladesh, the UAE, Kuwait, Bahrain, Oman, Singapore, and Brunei.
For the majority of emerging-market traders, Tickmill’s $30 NDB is not available. If you are reading this from Nigeria, South Africa, India, Indonesia, Pakistan, or Bangladesh, XM is the only option that gives you access to a no deposit bonus between these two brokers.
Where Tickmill’s NDB Wins
Tickmill does have advantages for traders in eligible countries:
- Longer trading window. 60 days versus XM’s 30-day claim deadline gives you more time to develop a strategy.
- No specific lot requirement. XM requires 10 micro lots plus 5 round-turn trades. Tickmill has no stated volume condition, meaning any profitable trading during the 60-day window counts.
- All instruments eligible. XM limits NDB trading to forex and CFDs, while Tickmill allows trading across all available instruments.
Where XM’s NDB Wins
- No profit cap. XM places no limit on withdrawable profits. Tickmill caps profit withdrawals at $100 and requires a minimum of $30 profit before you can withdraw anything.
- No deposit required to withdraw. XM lets you withdraw profits without ever depositing your own money. Tickmill requires a $100 deposit into a verified live account before profit transfer.
- Vastly wider country eligibility. XM covers the major emerging markets. Tickmill excludes them.
- Lower volume hurdle. While XM does state a volume requirement (10 micro lots), this is only 0.1 standard lots — a very manageable threshold for 30 days of trading.
NDB Verdict
XM wins the no deposit bonus comparison decisively. The combination of no profit cap, no deposit gate, and eligibility across all major emerging markets makes XM’s NDB substantially more valuable in practice. Tickmill’s NDB works well if you happen to be in an eligible country and want a longer trading window, but for the audience this site serves, XM is the clear choice for no-risk bonus trading.
Deposit Bonus Comparison
Beyond the NDB, both brokers offer deposit bonuses — though with very different structures.
| Deposit Bonus Term | XM | Tickmill |
|---|---|---|
| First Deposit | 50% up to $500 | Up to 20% max $1,000 (check broker website for current availability) |
| Subsequent Deposits | 20% up to $4,500 | Not specified |
| Total Bonus Cap | $5,000 (standard program) | $1,000 (check broker website for current availability) |
| Volume Requirement | 1 standard lot per $1 bonus (industry-standard structure) | 1 standard lot per $3 of bonus |
| Min Qualifying Deposit | $5 | $200 |
| Claim Deadline | No expiry (forfeited after 90 days inactivity) | Must claim within 14 days after deposit |
| Eligible Accounts | Standard, Micro (not Ultra Low/Shares) | Tickmill Ltd (FSA Seychelles) clients only |
XM’s deposit bonus structure is significantly more generous on paper, with a $5,000 cap versus Tickmill’s $1,000. XM also qualifies deposits as low as $5, while Tickmill requires a minimum $200 deposit for the bonus.
Tickmill’s deposit bonus terms state a clear volume requirement: 1 standard lot per $3 of bonus collected. This means a $200 bonus requires approximately 67 standard lots to fully convert. The 14-day claim window is also tight compared to XM’s open-ended approach.
Note: Tickmill’s deposit bonus promotion page returned a 404 error during our research, suggesting it may have been restructured or temporarily unavailable. The terms above are sourced from Tickmill’s general reward terms page. Always verify current availability on Tickmill’s website before depositing.
For exact bonus calculations, use the bonus comparison tool.
Minimum Deposit and Account Types
XM Account Types
| Account | Min Deposit | Spread | Commission | Lot Size |
|---|---|---|---|---|
| Micro | $5 | From 1.0 pips | None | 1 micro lot (1,000 units) |
| Standard | $5 | From 1.0 pips | None | 1 standard lot (100,000 units) |
| Ultra Low | $5 | From 0.6 pips | None | Micro or Standard |
| Shares | $10,000 (MT5 only) | Variable | Per-share commission | 1 share (MT5 only) |
XM’s $5 minimum on Micro and Standard accounts is among the lowest in the industry. The Micro account with 1,000-unit lots is ideal for beginners who want to limit per-trade risk while trading real money.
Tickmill Account Types
| Account | Min Deposit | Spread | Commission | Lot Size |
|---|---|---|---|---|
| Classic | $100 | From 1.6 pips | None | Standard |
| Raw | $100 | From 0.0 pips | $3 per lot per side ($6 round turn) | Standard |
| Futures & Options | $1,000 | Variable | Per-contract | Standard |
Tickmill’s minimum deposit is $100 across its standard account types, rising to $1,000 for Futures and Options. This is a significantly higher entry barrier than XM’s $5.
Where Tickmill stands out is on the Raw account. ECN-style raw spread pricing from 0.0 pips plus a transparent per-lot commission gives experienced traders a cleaner cost structure than XM’s spread-only markup model. For traders who execute frequently or trade larger sizes, the raw spread model often works out cheaper once you account for the tighter spreads.
Minimum Deposit Verdict
XM wins on accessibility with a $5 entry point that is 20 times lower than Tickmill’s $100 minimum. For beginners, small-account traders, or anyone testing a new broker with minimal risk, XM is clearly more accessible. Tickmill wins on execution cost for experienced traders who can fund $100 or more and want raw ECN-style pricing.
Platforms and Technology
XM Platforms
- MetaTrader 4 (MT4): Full Expert Advisor support, custom indicators, one-click trading.
- MetaTrader 5 (MT5): Expanded instrument access, built-in economic calendar, multi-threaded backtesting.
- XM WebTrader: Browser-based trading without software installation — useful for traders on restricted devices.
Tickmill Platforms
- MetaTrader 4 (MT4): Standard MT4 implementation with Tickmill’s server infrastructure.
- MetaTrader 5 (MT5): Full MT5 support.
- TradingView: Direct integration allowing Tickmill account holders to trade through TradingView’s charting platform. Tickmill also offers free TradingView subscriptions worth up to $56.49/month for active traders (3 lots/month for Essential, 5 lots/month for Plus, 12 lots/month for Premium).
- Tickmill Trader: Proprietary mobile app for iOS and Android.
Platform Verdict
Tickmill leads on platform variety and charting quality. The TradingView integration is a genuine differentiator — TradingView’s charting tools are widely considered superior to MetaTrader’s built-in charts, and the free subscription tiers reward active traders with real value. XM counters with WebTrader for browser-based access, but Tickmill’s TradingView integration is the more compelling feature for serious chart analysis.
Trading Conditions: Spreads, Fees, and Execution
This is Tickmill’s strongest category. Tickmill has built its reputation on tight ECN-style execution, while XM focuses on a spread-only model with no commission.
Spread and Fee Comparison
| Fee Type | XM | Tickmill |
|---|---|---|
| Spread Model | Variable, spread-only on all standard accounts | Classic: variable spread-only; Raw: 0.0 pip raw + commission |
| EUR/USD Typical | From 1.0 pips (Standard), from 0.6 pips (Ultra Low) | From 1.6 pips (Classic), from 0.0 pips (Raw) |
| Commission (Raw) | N/A — no raw spread account | $3 per lot per side ($6 round turn) |
| Deposit Fees | None from XM | None from Tickmill |
| Withdrawal Fees | None from XM | None from Tickmill |
| Inactivity Fee | $5/month after 90 days inactivity | $10/month after 60 days inactivity |
We cannot declare a definitive spread winner without live testing data for both brokers during identical market sessions. However, Tickmill’s Raw account, with spreads from 0.0 pips plus a transparent commission, is structurally designed to deliver lower all-in costs for high-frequency or high-volume traders compared to XM’s wider spread-only model.
For traders who execute fewer trades and prefer simplicity (no commission math), XM’s spread-only accounts are straightforward. For traders who optimize execution costs, Tickmill’s Raw account is the better architecture.
Leverage Comparison
| Factor | XM (Offshore Entity) | Tickmill (Offshore Entity) |
|---|---|---|
| Maximum Leverage | Up to 1:1000 | Up to 1:500 |
| Regulated Entity Leverage | 1:30 (CySEC/ASIC) | 1:30 (FCA/CySEC) |
XM offers higher maximum leverage through its offshore entity. However, the difference between 1:500 and 1:1000 is largely academic for responsible trading. Both levels amplify risk substantially. The regulated entity leverage of 1:30 is identical for both brokers.
Promotions Beyond the NDB
Both brokers offer more than just no deposit bonuses. Here is what each brings to the table.
XM Promotional Ecosystem
- Deposit bonus: 50% on first deposit (up to $500) + 20% on subsequent deposits (up to $4,500). Total cap $5,000.
- Loyalty Program: XM Points (XMP) earned per lot traded. Four tiers (Executive, Gold, Diamond, Elite) based on consecutive trading days. Points redeemable as trading credit or cashback.
- Referral program: Up to $35 per referred friend; referred friend receives $50 bonus (check broker website for current referral terms).
- Seasonal promotions: XM periodically runs cashback and other limited-time offers.
Tickmill Promotional Ecosystem
- Deposit bonus: Up to 20% max $1,000 (check broker website for current availability).
- Free TradingView subscription: Three tiers based on monthly volume — Essential (3 lots), Plus (5 lots), Premium (12 lots). Worth $13.99 to $56.49 per month.
- Trader of the Month contest: $1,000 cash prize for the monthly winner, judged on profit percentage, drawdown management, and risk-to-reward ratio.
- NFP Machine contest: Monthly prediction contest tied to the Non-Farm Payroll release. Up to $500 for exact prediction, no trade required to enter.
Promotions Verdict
XM wins on bonus value with a significantly larger deposit bonus cap ($5,000 vs $1,000) and a loyalty points system that rewards ongoing trading. Tickmill wins on non-bonus perks — the free TradingView subscription is genuine value that saves active traders real money every month, and the contests reward skill rather than deposit size. Tickmill’s approach is leaner but targets traders who value execution and tools over bonus capital.
Where XM Wins
XM is the better choice if:
- You want the no deposit bonus and live in an emerging market. XM’s NDB is available in Nigeria, South Africa, India, Indonesia, Pakistan, Bangladesh, and more. Tickmill excludes all of these countries.
- You are a beginner with limited capital. The $5 minimum deposit and Micro account with 1,000-unit lots minimize risk for new traders. Tickmill’s $100 minimum is a higher barrier.
- You want maximum bonus value. XM’s deposit bonus program (up to $5,000 total) dwarfs Tickmill’s $1,000 cap. The XM Loyalty Program adds ongoing value for active traders.
- No-strings NDB withdrawal matters. XM requires no deposit to withdraw NDB profits and imposes no profit cap. Tickmill requires a $100 deposit and caps withdrawable profit at $100.
- You want the broadest instrument access. XM offers 1,000+ instruments compared to Tickmill’s 600+.
Where Tickmill Wins
Tickmill is the better choice if:
- You prioritize low spreads and ECN execution. Tickmill’s Raw account with 0.0 pip raw spreads plus commission is structurally designed for lower all-in costs. Traders who execute frequently or in larger sizes will likely pay less at Tickmill.
- You value TradingView integration. Tickmill’s native TradingView connection and free subscription tiers are genuine differentiators that no amount of bonus capital can replicate.
- You want direct FCA authorization. Tickmill holds a direct FCA license (not via a separate brand), which some traders consider a stronger regulatory signal.
- You prefer contests that reward skill. The Trader of the Month and NFP Machine contests reward trading ability and market knowledge rather than deposit size.
- You are an experienced trader who does not need bonuses. If bonus offers are not a deciding factor and you care primarily about execution quality, Tickmill’s infrastructure is built for that audience.
The Verdict: XM vs Tickmill in 2026
These brokers target different traders, and the right choice depends on your priorities.
Choose XM if you want the better no deposit bonus, wider country eligibility, lower minimum deposit, and a larger deposit bonus program. XM is the clear winner for emerging-market traders who want to start with a no-risk bonus and build from there. The $5 entry, no-cap NDB profits, and $5,000 deposit bonus ceiling make XM the more generous broker for capital-conscious traders. Our score: 8.5/10.
Choose Tickmill if you are an experienced trader who prioritizes execution quality over bonus value. Tickmill’s ECN-style raw spreads, TradingView integration, and skill-based contests appeal to traders who have moved past the bonus-hunting phase and want the tightest possible trading costs. Be aware that the NDB is not available in most emerging markets, which limits its usefulness for our primary audience. Our score: 8.0/10.
Practical recommendation: If you are eligible for both NDBs (check Tickmill’s exclusion list carefully), claim both and compare the platforms firsthand. If you are in Nigeria, South Africa, India, Indonesia, Pakistan, or Bangladesh, XM is your only option for a no deposit bonus between these two brokers. Open a demo account at Tickmill to test spreads before committing capital.
Read our full reviews: XM broker review | Tickmill broker review. Compare all brokers in the comparison hub, or use the Bonus Finder to filter offers by type and country.
Frequently Asked Questions
Is the Tickmill $30 NDB available in Nigeria or South Africa?
No. Tickmill’s Welcome Account excludes Nigeria, South Africa, India, Indonesia, Pakistan, Bangladesh, Ghana, Vietnam, Thailand, and many other emerging markets. If you trade from any of these countries, Tickmill’s $30 NDB is not available to you. XM’s $30 NDB includes Nigeria, South Africa, and most other emerging markets. Check Tickmill’s official promotion page for the complete exclusion list before assuming eligibility.
Which broker has better spreads: XM or Tickmill?
Tickmill is generally regarded as having tighter spreads, particularly on its Raw account where spreads start from 0.0 pips plus a per-lot commission. XM uses a spread-only model on its standard accounts, which tends to result in wider spreads but no separate commission charge. The true cost depends on your trading volume and style — frequent traders often save money on Tickmill’s Raw account, while occasional traders may prefer XM’s simpler pricing. We recommend testing both on demo accounts during your typical trading hours before committing capital.
Can I claim the $30 NDB at both XM and Tickmill?
You can claim both if you are in a country eligible for both offers. However, Tickmill excludes most major emerging markets from its NDB, so this is only possible for traders in a limited number of countries. Each broker’s NDB is independent with its own terms. XM requires 10 micro lots and 5 round-turn trades with no profit cap. Tickmill has no stated volume requirement but caps withdrawable profit at $100 and requires a $100 deposit before profit withdrawal.
Why does Tickmill exclude so many countries from its NDB?
Tickmill has not published a specific reason for its extensive NDB exclusion list. The restrictions likely reflect a combination of regulatory compliance requirements, anti-money laundering policies, and the broker’s commercial strategy. Tickmill positions itself as a premium execution broker rather than a bonus-driven one, so its promotional programs are more selective than brokers like XM that actively target high-volume emerging markets with generous bonus frameworks.
This comparison was researched and written by Tim Morris, founder of forex-bonus.com. All bonus figures and trading conditions sourced from the verified Broker & Bonus Matrix, June 2026. Tickmill deposit bonus availability should be confirmed on the broker’s website as promotion terms may change. Verified June 2026.