FP Markets vs Tickmill: Australia Broker Comparison for Experienced Traders

For Australian traders, trading costs are a major consideration. FP Markets offers a Raw ECN account with spreads from 0.0 pips and a $3 commission per lot (round turn), while Tickmill's Raw account also starts at 0.0 pips but charges $2 per side per lot (total $4 per lot). For high-volume traders, FP Markets' slightly lower commission structure can lead to significant savings, especially when trading major pairs like AUD/USD. Additionally, FP Markets provides volume-based rebates for active traders, which Tickmill does not match. Overall, FP Markets has a slight edge in cost efficiency for Australian scalpers and day traders.

Both brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are the go-to platforms for experienced Australian traders. FP Markets also offers its proprietary IRESS platform, which is popular among advanced traders for its direct market access and advanced charting tools. Tickmill focuses solely on MT4/MT5, which is sufficient for most traders but lacks the depth of IRESS. For Australian traders who need advanced order types and multi-asset trading, FP Markets' platform suite is more versatile.

Both brokers offer fast execution speeds, with FP Markets averaging under 40ms on its ECN infrastructure and Tickmill slightly faster at around 30ms. FP Markets uses Equinix NY4 data centers for low-latency trading, while Tickmill employs LD4 (London) servers. For Australian traders, FP Markets' server location in Sydney (via Equinix SY4) provides a local execution advantage, reducing latency for Asia-Pacific trading sessions.

Both FP Markets and Tickmill are regulated by ASIC, meaning they must comply with strict Australian financial laws including client fund segregation and negative balance protection. FP Markets holds an Australian Financial Services Licence (AFSL) and has been operating since 2005, giving it a longer track record in Australia. Tickmill also holds an AFSL but is a newer entrant to the Australian market. For Australian traders, this regulation ensures that funds are held in segregated accounts and that the brokers adhere to local leverage limits (up to 30:1 for retail clients under ASIC rules).

Australian traders can fund their accounts using BPAY, POLi, Bank Transfer, and Credit Card at FP Markets, with BPAY being a standout feature for those who prefer direct bill payments. Tickmill supports POLi, Bank Transfer, and Credit Card but does not offer BPAY. Deposits via POLi and Credit Card are instant, while bank transfers take 1-2 business days. Withdrawals are processed within 24 hours at both brokers, with FP Markets offering free withdrawals via bank transfer for Australian clients. Both brokers accept AUD, so no currency conversion fees apply for local deposits.

For Australian Muslim traders seeking swap-free accounts, both FP Markets and Tickmill offer Islamic accounts upon request. FP Markets provides swap-free accounts with no overnight interest charges, subject to eligibility verification. Tickmill's Islamic accounts are similarly structured, though they may have restrictions on certain instruments. Both brokers require clients to provide documentation confirming their Muslim faith or religious affiliation. FP Markets' Islamic account is slightly more flexible with fewer trading restrictions.

FP Markets offers 24/5 customer support via live chat, phone, and email, with a dedicated Australian phone line for local clients. Tickmill also provides 24/5 support with live chat and email, but lacks a local Australian phone number. Both brokers respond quickly, but FP Markets' local presence gives it an edge for Australian traders who prefer phone support during Sydney trading hours.