FP Markets vs Tickmill for Mongolia Traders (2026)
Which broker is better for Mongolia traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Mongolia Traders
For emerging retail traders in Mongolia, choosing between FP Markets (rated 4.7/5) and Tickmill (4/5) is a key decision. Both brokers are regulated by the Financial Regulatory Commission (FRC Mongolia), ensuring local compliance. FP Markets stands out with its broader local payment support, including Bank Transfer, QPay, and USDT, making deposits seamless for Mongolian traders. Tickmill, while slightly lower rated, offers ultra-fast execution and competitive spreads, ideal for scalpers. This comparison focuses on MNT-friendly features, trading costs, and regulatory safety, helping you decide which broker suits your trading style in 2026.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| Instrument | FP Markets | Tickmill | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Tickmill |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Tickmill |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Tickmill |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Tickmill |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $100 | $100 | Tie |
FP Markets offers tighter raw spreads (from 0.0 pips on EUR/USD) compared to Tickmill’s average 0.2 pips. For Mongolia traders trading volumes of 10-20 lots monthly, FP Markets can save up to $50 in spreads, especially on USD/MNT pairs. Tickmill’s spreads are competitive but can widen during news events. Both brokers charge no commission on standard accounts, but FP Markets’ raw account has a $3 per lot commission, which is lower than Tickmill’s $4 per lot. Overall, FP Markets is more cost-effective for active Mongolian traders.
Account Types Comparison
| Account Type | FP Markets | Tickmill |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $100 | $100 |
Leverage Comparison - Mongolia Traders
| Entity / Asset | FP Markets | Tickmill |
|---|---|---|
| Mongolia (offshore) | Up to 1:500 | Up to 1:1000 |
| Forex major pairs | 1:500 | 1:1000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Trading Instruments - Assets Available
| Asset Class | FP Markets | Tickmill | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | FP Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | FP Markets |
| Crypto CFDs | 30+ | ✗ | FP Markets |
| Stocks / Share CFDs | 1,000+ | ✗ | Tickmill |
| ETFs | ✓ | ✗ | Tie |
Platforms Comparison
| Platform | FP Markets | Tickmill |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✓ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
FP Markets provides MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, offering more platform choices for Mongolian traders. Tickmill offers MT4 and MT5 only. For mobile traders in Mongolia, FP Markets’ cTrader app is lighter and faster on older devices. Both brokers support automated trading via Expert Advisors (EAs), but FP Markets’ cTrader is preferred for algorithmic strategies. For beginners, FP Markets’ user-friendly interface on MT5 is a plus.
Execution Quality - Speed & Slippage
| Factor | FP Markets | Tickmill | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Tickmill |
| Avg execution speed | ~30ms | ~40ms | FP Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
FP Markets offers average execution speed of 30ms on MetaTrader servers, while Tickmill claims 20ms on its infrastructure. For scalpers in Mongolia, Tickmill’s faster execution reduces slippage on volatile pairs like USD/MNT. FP Markets’ execution is reliable for most strategies, but Tickmill edges ahead for high-frequency trading. Both brokers use No Dealing Desk (NDD) execution without requotes.
Regulation & Safety for Mongolia Traders
| Safety Factor | FP Markets | Tickmill |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both FP Markets and Tickmill are regulated by the Financial Regulatory Commission (FRC Mongolia), ensuring compliance with local laws. Additionally, FP Markets holds licenses from ASIC (Australia) and CySEC, while Tickmill is regulated by FCA (UK) and CySEC. For Mongolia traders, FRC regulation means deposits via Bank Transfer or QPay are protected under local investor compensation schemes. FP Markets’ multi-regulator oversight adds extra security for larger accounts.
Deposits & Withdrawals for Mongolia
| Payment Method | FP Markets | Tickmill |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | 24 hours | Most withdrawals 1 business day; bank wire 1-3 days, Credit/Debit Cards: Up to 8 working days. |
Mongolia traders can deposit at FP Markets via Bank Transfer, QPay (instant mobile payment), and USDT (Tether). Tickmill supports Bank Transfer and USDT but not QPay. Minimum deposits are $50 for FP Markets and $100 for Tickmill. Withdrawals at FP Markets via USDT are processed within 1 hour, while Bank Transfer takes 1-3 business days. Tickmill’s USDT withdrawals are slower (up to 24 hours). Both brokers accept MNT conversions but FP Markets’ QPay option eliminates conversion fees for local payments.
Islamic Accounts - Swap-Free for Mongolia Muslims
| Islamic Account Feature | FP Markets | Tickmill |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both FP Markets and Tickmill offer Islamic (swap-free) accounts for Muslim traders in Mongolia. FP Markets requires a written request after account opening, while Tickmill provides it automatically upon request. No additional spreads or fees are charged. However, FP Markets limits swap-free status to 90 days for long-term positions, while Tickmill has no time limit. Mongolia traders holding positions overnight should consider Tickmill for longer-term Islamic trading.
Customer Support Comparison
| Support Feature | FP Markets | Tickmill | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | FP Markets |
FP Markets offers 24/5 live chat and email support in English and Mongolian, with response times under 2 minutes. Tickmill provides 24/5 support via live chat and phone, but only in English (Mongolian via email). For quick help with QPay deposits, FP Markets’ local support is more responsive. Both brokers have comprehensive FAQ sections tailored to emerging traders.
Mobile App Comparison
| Mobile Feature | FP Markets | Tickmill | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | FP Markets |
| Google Play rating | 4.3 stars | 4.2 stars | FP Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✓ | ✗ | FP Markets |
Education & Research Tools
| Resource | FP Markets | Tickmill | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | FP Markets |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
FP Markets
Tickmill
Who Should Use Which Broker? - Mongolia Guide
Choose FP Markets if you...
- Prefer using QPay for instant deposits without conversion fees
- Trade smaller volumes and want tighter spreads (0.0 pips raw)
- Need cTrader for algorithmic or social trading
- Want FRC Mongolia regulation plus ASIC/CySEC oversight
Choose Tickmill if you...
- Are a scalper needing ultra-fast execution (20ms)
- Trade larger volumes and want lower commission ($4 per lot)
- Need an Islamic account with no time limit
- Prefer phone support for urgent issues
FAQ - FP Markets vs Tickmill in Mongolia
Final Verdict - Mongolia 2026
For Mongolia traders in 2026, FP Markets (4.7/5) is the stronger overall choice due to its superior local payment support (Bank Transfer, QPay, USDT), tighter spreads, and multi-regulator regulation including FRC Mongolia. It’s ideal for emerging retail traders who value cost efficiency and convenience. Tickmill (4/5) remains a solid option for scalpers needing faster execution and for Muslim traders requiring unlimited swap-free accounts. Both brokers are safe and compliant, but FP Markets offers better local integration for Mongolian traders, especially with QPay deposits and MNT-friendly features.