Tickmill vs Libertex – Which Broker is Better in 2024?
Choosing the right broker is crucial for any trader. In 2024, Tickmill and Libertex are among the most talked-about brokers. This article compares these two brokers to help traders decide which one suits their needs best. We will explore their features, fees, platforms, customer service, and overall user experience.
Overview of Tickmill and Libertex
Tickmill
Tickmill is known for its low-cost trading environment and excellent customer service. Established in 2014, it has grown rapidly, offering services globally. Tickmill is regulated by several authorities, including the FCA in the UK, CySEC in Cyprus, and the Seychelles FSA.
Libertex
Libertex, founded in 1997, has a long-standing reputation in the trading community. It is regulated by CySEC and offers a wide range of assets, including CFDs on stocks, commodities, forex, and cryptocurrencies. Libertex is known for its user-friendly platform and zero spread trading model.
Fees and Commissions
Tickmill
Tickmill is highly competitive regarding fees. It offers three types of accounts: Classic, Pro, and VIP. The Classic account has no commission but slightly higher spreads, while the Pro and VIP accounts offer lower spreads with commissions of $2 per side per lot.
Libertex
Libertex uses a different fee structure. It offers zero spread trading, which means there is no difference between the bid and ask price. Instead, Libertex charges a commission on trades. This commission varies depending on the asset, ranging from 0.03% to 0.1%.
Trading Platforms
Tickmill
Tickmill supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular trading platforms in the world. These platforms are known for their advanced charting tools, automated trading capabilities, and extensive range of technical indicators.
Libertex
Libertex offers its proprietary platform, known for its simplicity and ease of use. It is web-based, meaning no downloads are required. While it may not have the extensive features of MT4 or MT5, it provides a straightforward and efficient trading experience, especially for beginners.
Range of Assets
Tickmill
Tickmill provides access to over 80 instruments, including forex, indices, commodities, and bonds. While its range is not as extensive as some competitors, it covers the most popular assets, making it suitable for most traders.
Libertex
Libertex stands out with over 250 instruments available for trading. This includes a broad selection of stocks, commodities, forex pairs, ETFs, and cryptocurrencies. This wide range makes Libertex an excellent choice for traders looking to diversify their portfolios.
Customer Service
Tickmill
Tickmill has received praise for its customer service. It offers 24/5 support via live chat, email, and phone. Additionally, its support team is known for being knowledgeable and responsive, helping traders resolve issues quickly.
Libertex
Libertex also provides robust customer service with 24/5 availability. Support can be accessed via live chat, email, and phone. Moreover, Libertex has a comprehensive FAQ section and educational resources to assist traders.
User Experience and Educational Resources
Tickmill
Tickmill offers a solid user experience with its MT4 and MT5 platforms. It also provides a range of educational materials, including webinars, tutorials, and market analysis, which are beneficial for both novice and experienced traders.
Libertex
Libertex is designed with user-friendliness in mind. Its proprietary platform is intuitive and straightforward, ideal for beginners. Libertex also offers educational resources, including webinars, tutorials, and detailed market analysis, enhancing the overall trading experience.
Case Study: A Comparative Scenario
To illustrate the differences, let's consider a trader, John, who plans to trade forex with an initial deposit of $1,000.
Trading on Tickmill: John opens a Pro account with Tickmill. The average spread on EUR/USD is 0.1 pips, and the commission is $4 per round trip per lot. For trading one lot, his total cost would be approximately $4.10.
Trading on Libertex: John trades the same asset on Libertex. There are no spreads, but a commission of 0.1% is charged. For a $1,000 trade, the commission would be $1.
In this scenario, trading costs on Libertex are lower. However, John must also consider the trading platform, available assets, and customer support to make an informed decision.
Conclusion
Both Tickmill and Libertex have their strengths. Tickmill offers low-cost trading with advanced platforms suitable for experienced traders, while Libertex provides a user-friendly experience with a broad range of assets, ideal for beginners and those looking to diversify.
Ultimately, the choice between Tickmill and Libertex will depend on individual trading needs and preferences. Traders should consider what aspects of a broker are most important to them, whether it's lower fees, a specific trading platform, or the range of available assets.
