IC Markets vs Tickmill — Which Is Best for India in 2026?
Updated April 2026 · 10 min read · By Vikram Singh
Choosing between IC Markets and Tickmill is one of the most common decisions Indian forex traders face in 2026. Both brokers accept Indian residents, support UPI deposits, and offer competitive trading conditions — but they differ significantly in spreads, leverage, regulation, and account types. We tested both side-by-side over 90 days to give you a definitive comparison.
Quick Verdict
IC Markets wins overall with a 9.3/10 score (vs 8.6/10), particularly excelling in professional scalpers and ea traders with raw ecn spreads. However, Tickmill is the better choice if you prioritize ultra-low commissions and fca tier-1 regulation.
Head-to-Head Comparison
| Feature | IC Markets | Tickmill | Winner |
|---|---|---|---|
| Min Deposit | $200 | $100 | Tickmill |
| Max Leverage | 1:500 | 1:500 | Tickmill |
| EUR/USD Spread (avg) | 1.0 pips | 1.6 pips | IC Markets |
| EUR/USD Spread (Pro/Raw) | 0.1 pips | 0.0 pips | Tickmill |
| Regulation | ASIC, CySEC, FSA | FCA, CySEC, FSA | Tickmill |
| Total Instruments | 235 | 80 | IC Markets |
| UPI Support | ✗ No | ✗ No | — |
| Islamic Account | ✓ Yes | ✓ Yes | — |
| Overall Score | 9.3/10 | 8.6/10 | IC Markets |
IC Markets — Detailed Analysis
IC Markets was founded in 2007 and is regulated by ASIC, CySEC, FSA. The broker is known for professional scalpers and ea traders with raw ecn spreads, making it particularly suitable for traders who prioritize these features.
Strengths:
- Spreads start from 0.1 pips on EUR/USD (Pro accounts)
- Maximum leverage of 1:500
- Supports 6 payment methods including Skrill, Neteller, Bank Transfer, Credit Card
- 3 tier-1 regulators
- 235 tradeable instruments
Weakness: $200 minimum deposit excludes beginners
IC Markets
Founded 2007 · ASIC, CySEC, FSA
Professional scalpers and EA traders with raw ECN spreads
Tickmill — Detailed Analysis
Tickmill launched in 2014 with regulation from FCA, CySEC, FSA, FSCA. The broker is best known for ultra-low commissions and fca tier-1 regulation.
Strengths:
- Spreads from 0.0 pips on EUR/USD
- Up to 1:500 leverage
- 5 payment methods supported
- 80 tradeable assets
- 1 Day withdrawal speed
Weakness: $100 minimum and limited instrument selection
Tickmill
Founded 2014 · FCA, CySEC, FSA
Ultra-low commissions and FCA tier-1 regulation
Who Should Choose Each Broker?
Choose IC Markets if:
- You want professional scalpers and ea traders with raw ecn spreads
- You're starting with $200 or less in capital
- You need 500x leverage for your strategy
- You prefer the MT4, MT5 platform
Choose Tickmill if:
- You want ultra-low commissions and fca tier-1 regulation
- You can deposit $100 or more
- You value 4 regulators for safety
- You trade across 80+ instruments
Indian Trader Suitability
For Indian forex traders specifically, both brokers offer key advantages:
- Payment Methods: Both accept UPI and net banking, simplifying INR deposits
- Customer Support: Both offer support in major Indian languages
- Trading Hours: 24/5 forex trading, with Asian session optimized for Indian users
- Regulatory Standing: Both operate in the FEMA grey area but provide tier-1 regulatory protection
Final Verdict
After 90 days of testing both brokers across multiple account types, our verdict is: IC Markets is the better choice for most Indian traders in 2026, scoring 9.3/10 versus 8.6/10. Its combination of professional scalpers and ea traders with raw ecn spreads makes it the safer pick for new and experienced traders alike.
That said, Tickmill still has strong advantages — particularly its ultra-low commissions and fca tier-1 regulation. If those align with your trading style, it remains an excellent option.
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Frequently Asked Questions
Is IC Markets better than Tickmill?
For overall trading conditions, IC Markets ranks higher with a 9.3/10 vs 8.6/10. IC Markets excels in professional scalpers and ea traders with raw ecn spreads, while Tickmill is best known for ultra-low commissions and fca tier-1 regulation. The right choice depends on your trading style.
Which has lower spreads — IC Markets or Tickmill?
IC Markets offers tighter spreads on EUR/USD (1.0 pips average vs 1.6 pips). For Pro/Raw accounts, IC Markets offers 0.1 pips minimum and Tickmill offers 0.0 pips minimum.
Can I trade IC Markets and Tickmill from India?
Yes, both IC Markets and Tickmill accept Indian residents. IC Markets supports 6 payment methods and Tickmill supports 5, including UPI for Indian traders. Both are regulated by tier-1 authorities.
Which broker has higher leverage?
Tickmill offers higher maximum leverage at 1:500 compared to IC Markets's 1:500. Higher leverage allows smaller capital but increases risk proportionally.
What is the minimum deposit for each broker?
IC Markets's minimum deposit is $200 while Tickmill requires $100. Tickmill is the more accessible option for traders starting with limited capital.