IC Markets vs Tickmill for New Zealand Traders (2026)
Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
New Zealand retail traders comparing IC Markets vs Tickmill in 2026 face two highly regarded brokers, each regulated by the local financial regulator. IC Markets, with a 4.8/5 rating, is known for its ultra-tight spreads, deep liquidity from top-tier banks, and support for MetaTrader 4, MetaTrader 5, and cTrader. Tickmill, rated 4/5, offers a competitive trading environment with lower minimum deposits and a user-friendly platform suite. Both brokers accept New Zealand clients and support local payment methods including Bank Transfer, Skrill, Neteller, and USDT TRC20. The choice depends on your trading style: IC Markets excels for scalpers and high-volume traders needing razor-thin spreads, while Tickmill suits beginners or those prioritising lower entry costs. This comparison breaks down spreads, platforms, regulation, and payment options specifically for Kiwi traders.
| Instrument | IC 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 | $200 | $100 | Tickmill |
| Inactivity fee | ✓ | ✓ | Tie |
For New Zealand traders, trading costs are a key differentiator. IC Markets’ Raw Spread account offers spreads from 0.0 pips with a $7 per lot commission, while Tickmill’s Pro account starts at 0.0 pips with a $4 per lot commission. However, IC Markets’ spreads are consistently tighter in practice, especially on major pairs like NZD/USD. For high-volume traders, IC Markets can save hundreds of dollars monthly. Tickmill’s Classic account has no commission but wider spreads (from 1.6 pips), making it better for smaller trades. Overall, IC Markets wins for cost efficiency, particularly for active Kiwi traders.
| Account Type | IC Markets | Tickmill |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $200 | $100 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | IC Markets | Tickmill |
|---|---|---|
| New Zealand (offshore) | Up to 1:500 | Up to 1:500 |
| Forex major pairs | 1:500 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | Tickmill |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | IC Markets | Tickmill |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the industry standards for New Zealand traders. IC Markets additionally offers cTrader, which provides advanced charting and order management, ideal for algorithmic and scalping strategies. Tickmill sticks with MT4/MT5 and its own WebTrader, which is simpler but less feature-rich. For Kiwi traders who value custom indicators and automated trading, IC Markets’ cTrader integration gives it an edge. Tickmill’s platforms are reliable but lack the depth of IC Markets’ offering.
| Factor | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Tickmill |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets uses No Dealing Desk (NDD) execution with low latency from servers in the Equinix NY4 data centre, offering average execution speeds under 40ms. Tickmill also uses NDD execution but with slightly higher latency (around 50ms). For New Zealand traders trading volatile pairs like NZD/USD, IC Markets’ faster execution reduces slippage risk. Both brokers offer ECN pricing, but IC Markets’ infrastructure is more advanced, making it the better choice for scalpers and high-frequency traders.
| Safety Factor | IC Markets | Tickmill |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Reg number | #335692 | #717270 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both IC Markets and Tickmill are regulated by the local financial regulator, ensuring New Zealand traders benefit from client fund segregation and negative balance protection. IC Markets holds additional licenses from ASIC and CySEC, providing extra layers of oversight. Tickmill is also regulated by the FCA and CySEC, but its primary oversight for Kiwi clients comes from the local regulator. This means both brokers meet strict capital adequacy and reporting standards, giving New Zealand traders peace of mind. IC Markets’ multiple licenses offer a slight advantage in regulatory depth.
| Payment Method | IC Markets | Tickmill |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Deposit fee | None | None |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Most withdrawals 1 business day; bank wire 1-3 days |
| Min withdrawal | $50 | $50 |
New Zealand traders can fund accounts at both brokers using Bank Transfer, Skrill, Neteller, and USDT TRC20. IC Markets also accepts credit/debit cards and PayPal, while Tickmill adds POLi for local bank transfers. Minimum deposits: IC Markets requires $200 for bank transfers and e-wallets, while Tickmill starts at $100 for most methods. USDT TRC20 deposits are instant at both brokers, with no fees from the broker side. Withdrawals are processed within 24 hours for e-wallets and USDT, and 1-3 days for bank transfers. Both brokers do not charge withdrawal fees, but your bank may apply its own charges. The variety of local payment options makes both convenient for Kiwi traders.
| Islamic Account Feature | IC Markets | Tickmill |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | — |
| How to apply | Contact support | Contact support |
Both IC Markets and Tickmill offer Islamic (swap-free) accounts for New Zealand Muslim traders. IC Markets provides Islamic accounts on its Standard and Raw Spread accounts, with no swap fees on overnight positions. Tickmill offers them on Classic and Pro accounts, also swap-free. However, both brokers may charge a small administrative fee after a holding period (e.g., 10 days for IC Markets, 7 days for Tickmill). These accounts are available on request and do not require additional documentation beyond standard KYC. For Kiwi Muslim traders, both brokers are accommodating, but IC Markets’ longer fee-free period is slightly better.
| Support Feature | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 live chat, email, and phone support, with dedicated account managers for VIP clients. Tickmill provides 24/5 support via live chat, email, and phone, with slightly slower response times during weekends. For New Zealand traders in the NZDT timezone, IC Markets’ round-the-clock support is more accessible, especially for after-hours queries. Both brokers offer support in English, with IC Markets also covering multiple languages. IC Markets edges ahead for support availability.
| Mobile Feature | IC Markets | Tickmill | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | IC Markets |
| Google Play rating | 4.3★ | 4.2★ | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | IC Markets |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
| Beginner resources | Excellent | Basic | IC Markets |
Choose IC Markets if you...
- Need ultra-tight spreads from 0.0 pips for high-volume trading
- Want access to cTrader alongside MT4/MT5 for advanced charting
- Prefer 24/7 customer support for after-hours trading in NZDT
- Value faster execution under 40ms for scalping strategies
Choose Tickmill if you...
- Have a smaller trading capital and prefer a $100 minimum deposit
- Want lower commission costs at $4 per lot on Pro accounts
- Prefer a simpler platform suite without cTrader complexity
- Need POLi for local bank transfers from New Zealand banks
For New Zealand retail traders, IC Markets is the clear winner with a 4.8/5 rating, offering tighter spreads, faster execution, and more platform choices. Its support for local payments like Bank Transfer, Skrill, Neteller, and USDT TRC20, combined with regulation by the local financial regulator, makes it ideal for active and high-volume traders. Tickmill, rated 4/5, is a solid alternative for beginners or those with smaller accounts, thanks to its lower minimum deposit and competitive commission structure. However, IC Markets’ overall trading environment—especially for scalping and automated trading—gives it the edge. If you prioritise cost efficiency and execution quality, go with IC Markets. If you prefer a lower entry barrier and simpler setup, Tickmill remains a reliable choice.