Which broker comes out ahead overall, Phillip Capital or Tickmill?

Phillip Capital comes out ahead in our overall independent rating, scoring 3.7 out of 5 compared to Tickmill's 3.3 out of 5. Phillip Capital's advantages include a lower minimum deposit, cheaper commissions, and tier-1 regulatory backing. However, Tickmill may still suit traders who specifically want higher leverage or MT4/MT5 access, so your ideal pick depends on your personal trading priorities.

How much money do I need to open an account with each broker?

Phillip Capital requires no minimum deposit at all, letting you open an account with $0 to start. Tickmill requires a $100 minimum deposit, which is still low by industry norms but a real difference for budget-conscious beginners.

Which broker is regulated more safely, Phillip Capital or Tickmill?

Phillip Capital is regulated by MAS and ASIC, two respected tier-1 financial authorities known for strict oversight. Tickmill holds licences from the FCA, CySEC, and FSCA, giving it broader regulatory coverage across three jurisdictions, which is why it earns our award for Best for Regulation.

What trading platforms are available at Phillip Capital versus Tickmill?

Phillip Capital offers proprietary web and mobile trading platforms built in-house. Tickmill instead supports the industry-standard MT4 and MT5 platforms, which appeal to traders wanting access to expert advisors and third-party automation tools.

Which broker offers higher leverage, Phillip Capital or Tickmill?

Tickmill offers significantly higher maximum leverage at up to 1:500, compared to Phillip Capital's more conservative 1:5 cap. Experienced traders comfortable with higher risk may prefer Tickmill's leverage ceiling for this reason.

Can beginners use either Phillip Capital or Tickmill comfortably?

Phillip Capital is generally more beginner-friendly thanks to its $0 minimum deposit and lower leverage cap, which naturally limits downside risk exposure for new traders. Tickmill's $100 deposit and higher leverage options make it more suited to traders with some prior experience.

Is it possible to open accounts with both Phillip Capital and Tickmill?

Yes, nothing prevents you from holding accounts at both brokers simultaneously. Many traders diversify across multiple platforms to access different markets, tools, or regulatory jurisdictions depending on their strategy.

Which broker offers access to a wider range of markets?

Phillip Capital supports five asset classes including stocks, forex, CFDs, indices, and commodities. Tickmill covers four asset classes — forex, CFDs, indices, and commodities — but does not offer direct stock trading access.

Reviewed by Experts Updated 9/5/2026

Phillip Capital vs Tickmill: Which Broker Wins in 2026?

Q: Which broker has cheaper trading costs, Phillip Capital or Tickmill?

Both brokers start spreads from 0 pips, but commission structures differ significantly. Phillip Capital charges just $0.08 per lot, while Tickmill charges $2 per lot, making Phillip Capital notably cheaper for active or high-volume traders over time.

Phillip Capital and Tickmill both appeal to global traders, but they take very different approaches to fees, regulation, and platform design. Our research gives Phillip Capital the edge overall, though Tickmill remains a strong contender for those prioritizing multi-jurisdictional regulatory coverage.

OVERALL WINNER

Phillip Capital

3.7 / 5Score: 3 / 3

A century-tested Singaporean broker offering zero minimum deposit and rock-bottom commissions for cost-conscious global traders.

Min deposit: $0
Max leverage: 1:5
Spread from: 0 pips
Regulators: MAS, ASIC

Tickmill

3.3 / 5Score: 0 / 3

A London-headquartered multi-regulated broker delivering high leverage and industry-standard MT4/MT5 platforms for active traders.

Min deposit: $100
Max leverage: 1:500
Spread from: 0 pips
Regulators: FCA, CySEC, FSCA

Our #1 Pick Right Now: AvaTrade

Same category, top-tier regulation, and it's currently accepting new traders.

See What Makes It Different

Overall Winner

Phillip Capital

Best for Beginners

Phillip Capital

Lowest Fees

Phillip Capital

Top Regulation

Tickmill

Full comparison Fees & Accounts Pros & cons Verdict Summary FAQ

Side-by-side comparison

Core features compared head-to-head.

Feature	PC Phillip Capital	T Tickmill
Overview
Rating	3.7 / 5	3.3 / 5
Founded	1975	2014
Headquarters	Singapore	London, UK
Regulation	MAS, ASIC	FCA, CySEC, FSCA
Fees & Limits
Min Deposit	$0	$100
Spreads From	0 pips	0 pips
Commission	$0.08/lot	$2/lot
Max Leverage	1:5	1:500
Platforms & Markets
Trading Platforms	Proprietary Web, Proprietary Mobile	MT4, MT5
Markets Offered	Stocks, Forex, Cfd, Indices, Commodities	Forex, Cfd, Indices, Commodities

Pros & cons

Phillip Capital

Pros

Higher overall rating at 3.7/5 compared to competitors
No minimum deposit needed to open an account
Access to five distinct market types including stocks
Long-established broker history since 1975
Very low per-lot commission structure
Strong tier-1 regulatory backing from MAS and ASIC
No deposit or withdrawal fees

Cons

Maximum leverage capped at a conservative 1:5
Only holds two regulatory licences versus competitors' three
Proprietary platforms lack the broad third-party tool ecosystem of MT4/MT5
No support for popular platforms like MT4 or MT5
Limited appeal for high-leverage strategy traders

Tickmill

Pros

Higher maximum leverage available at up to 1:500
Broader regulatory licence coverage across three jurisdictions
Access to well-known MT4 and MT5 trading platforms
Strong ecosystem of expert advisors and automated tools
No deposit or withdrawal fees charged
Competitive 0 pip starting spreads

Cons

Lower overall rating at 3.3/5
Higher minimum deposit requirement of $100
Higher per-lot commission at $2 compared to competitors
No direct stock trading access
Newer entrant to the market, founded in 2014

Our expert verdict

Editor's verdict

Overall winner Phillip Capital

Lowest fees Phillip Capital

Best regulation Tickmill

Better for beginners Phillip Capital

Phillip Capital is our top recommendation in this matchup, earning a 3.7/5 overall rating compared to Tickmill's 3.3/5. It wins on accessibility thanks to its $0 minimum deposit, and it carries tier-1 regulatory backing from MAS and ASIC. Tickmill counters with broader regulatory spread across three jurisdictions (FCA, CySEC, FSCA) and significantly higher leverage of up to 1:500. For most traders — especially beginners and cost-conscious investors — Phillip Capital offers the stronger all-around package.

Regulation & Safety

Phillip Capital is regulated by two respected tier-1 authorities: the Monetary Authority of Singapore (MAS) and Australia's ASIC. Both regulators are known for strict capital adequacy rules and strong client fund segregation requirements, which gives traders meaningful protection.

Tickmill spreads its regulatory footprint across three jurisdictions — the FCA in the UK, CySEC in Cyprus, and the FSCA in South Africa. This breadth means Tickmill can serve a wider range of regions under locally appropriate oversight, which is why it takes our award for Best for Regulation.

Both brokers maintain a clean 'no deposit fee, no withdrawal fee' policy, which is a reassuring sign of transparent cost structures. Ultimately, Phillip Capital's tier-1 licences carry slightly more institutional weight, but Tickmill's multi-region coverage remains a valid draw for globally distributed traders.

Fees, Spreads & Commissions

Both brokers advertise spreads starting from 0 pips, so headline pricing looks identical on the surface. The real differentiator lies in commission structure: Phillip Capital charges just $0.08 per lot, while Tickmill charges $2 per lot.

For high-frequency or high-volume traders, this commission gap can add up meaningfully over time, giving Phillip Capital a clear cost advantage on paper. That said, Tickmill's commission structure is still competitive within the MT4/MT5 brokerage space.

Neither broker charges deposit or withdrawal fees, which keeps the overall cost comparison focused primarily on spreads and per-lot commissions rather than hidden account fees.

Minimum Deposit & Accessibility

Phillip Capital requires no minimum deposit at all, making it exceptionally accessible for beginners or traders who want to start small and scale up gradually. This is one of the biggest reasons it earns our Best for Beginners award.

Tickmill requires a $100 minimum deposit, which is still relatively low by industry standards but represents a real barrier compared to Phillip Capital's $0 threshold.

For cost-conscious new entrants or those testing strategies with minimal capital at risk, Phillip Capital's zero-deposit policy is a decisive practical advantage.

Trading Platforms & Tools

Phillip Capital relies on proprietary web and mobile platforms built in-house, giving it tighter control over the user experience but less third-party integration flexibility.

Tickmill instead offers the industry-standard MT4 and MT5 platforms, which come with a vast ecosystem of expert advisors, custom indicators, and automated trading tools that many experienced traders already know well.

Traders who value automation, algorithmic strategies, or familiarity with a globally recognized platform will likely prefer Tickmill's MT4/MT5 setup, while those who prefer a streamlined proprietary experience may lean toward Phillip Capital.

Leverage & Market Access

Tickmill offers substantially higher maximum leverage at 1:500, compared to Phillip Capital's more conservative 1:5 cap. This makes Tickmill more attractive to experienced traders comfortable with higher-risk, higher-reward position sizing.

On market breadth, Phillip Capital edges ahead with five asset classes — stocks, forex, CFDs, indices, and commodities — versus Tickmill's four (forex, CFDs, indices, and commodities), notably lacking direct stock access.

Traders focused purely on leveraged forex and CFD trading may find Tickmill's leverage ceiling appealing, while those wanting diversified exposure including equities will benefit more from Phillip Capital's broader market menu.

Our Verdict

Phillip Capital takes the overall win in this comparison, driven by its stronger rating, zero minimum deposit, lower commission structure, and tier-1 regulatory backing from MAS and ASIC.

Tickmill remains a credible alternative, particularly for traders who prioritize high leverage, MT4/MT5 platform familiarity, or broader multi-jurisdictional regulatory coverage.

Your final choice should hinge on your trading style: beginners and cost-conscious traders should lean toward Phillip Capital, while leverage-focused MT4/MT5 users may still find Tickmill a fitting home.

Verdict summary

The bottom line — category winners and our final pick based on ratings.

Editor's verdict

Phillip Capital wins overall

Phillip Capital edges out Tickmill overall based on our expert rating score.

Highest Rated

Phillip Capital

3.7 / 5 / 5

Category winners

Overall winner
Based on overall expert rating (3.7/5).
Phillip Capital
Better for beginners
Stronger onboarding and educational resources.
Phillip Capital
Lower trading costs
More competitive spreads and baseline commissions.
Phillip Capital
Stronger regulation
Higher trust based on tier-1 regulatory oversight.
Tickmill

Frequently asked questions

Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.