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Customer Notice

Trading derivatives is high risk. Losses can exceed your initial investment. You should only trade with money you can afford to lose. Any Information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs. Past performance of any product described on this website is not a reliable indication of future performance. You should consider whether you’re part of our target market by reviewing our Target Market Determination, and read our PDS and other legal documents to ensure you fully understand the risks before you make any trading decisions.

The information on this website is not intended to be an inducement, offer or solicitation to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© Copyright 2018-2026 Afterprime Pty Ltd - FSA Seychelles #SD057 | Global Gateway 8, Rue de la Perle, Providence, Mahé, Seychelles.

Afterprime vs Tickmill Comparison

Independent data, verified spreads, and total cost analysis across 50-1,000 lot monthly volumes.
Compare Your Cost
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Total Trading Cost Breakdown

Broker
Pairs
Cost Per Lot
(Including Commission)
% Savings
(vs Afterprime)
Afterprime
All
$5.49
0%
Tickmill UK (Raw)
All
$11.38
52%

Source: ForexBenchmark - Previous 7 Days Range | All Pairs | Incl. Commissions + Spreads. (Last Updated: 12 June 2026)

Tickmill UK (Raw) costs reflect spread including commission on standard lot. Afterprime costs include zero commission with Flow Rewards™ applied at standard eligible rates. Comparisons are on a like-for-like account basis.

Trading Cost by Forex Major

FX Pair
TICKMILL
Net Cost/lot
Afterprime
Net Cost/lot + Flow RewardsTM
Cost Savings
(vs Afterprime)
EURUSD
Hide By Volume
$6.02
$3.19
$2.83

Cost by Volume - EURUSD

VolumeTickmill UK (Raw)AfterprimeSaved
50 lots$301.00$159.50$141.50
100 lots$602.00$319.00$283.00
250 lots$1505.00$797.50$707.50
500 lots$3010.00$1595.00$1415.00
1000 lots$6020.00$3190.00$2830.00
GBPUSD
Show By Volume
$6.90
$5.79
$1.11
USDJPY
Show By Volume
$6.88
$4.70
$2.18
USDCHF
Show By Volume
$6.71
$2.18
$4.53
USDCAD
Show By Volume
$6.45
$3.16
$3.29
AUDUSD
Show By Volume
$6.03
$1.90
$4.13
NZDUSD
Show By Volume
$6.29
$2.98
$3.31

Source: ForexBenchmark - Previous 7 Days Range | All Pairs | Incl. Commissions + Spreads. (Last Updated: )

Afterprime net cost figures include Flow Rewards™ at $0.40/lot (round turn), applicable to eligible client accounts on qualifying instruments. Flow Rewards™ rates may vary. See Flow Rewards for full eligibility criteria.
Cost comparisons are based on third-party data and are for informational purposes only. Trading involves significant risk of loss. Individual trading costs will vary based on account type, instrument, and market conditions.

Spreads - The Invisible Variable

The spread is the primary cost of entry for any trader, but it is rarely static. Most brokers quote "typical" spreads that fluctuate wildly during high volatility or low liquidity periods (like the New York/London crossover or market open).

  • The "Raw" Reality
    Many brokers claim "$0.0 spreads," but the frequency of those spreads actually being available to fill your order is the true metric of quality.
  • The Afterprime Edge
    We focus on spread stability. By curating our flow, we reduce the "noise" and "gapping" that often occurs with retail-heavy brokers, ensuring that the price you see is the price you get, under normal market conditions.

Cost Per Lot Impact - More Than Just Commission

Traders often make the mistake of looking at commission in isolation. A low commission is meaningless if it’s paired with wide spreads or poor execution (slippage).

The Total Cost Per Lot formula is: (Spread in Pips x Pip Value) + Round Turn Commission = Total Cost

  • The Slippage Factor
    If a broker has "cheap" costs but slips your entry by 0.2 pips, that is an extra $2.00 per lot added to your cost that doesn't show up on their pricing page. This is an industry-wide dynamic and does not constitute a specific claim regarding Tickmill's execution quality.
  • Cumulative Friction
    For a high-frequency trader or someone moving 1,000 lots a month, a mere $2.00 difference in total cost per lot is the difference between a $2,000 profit and a $2,000 loss.

How it Affects Total Cost Calculation

When we calculate the comparison between Afterprime and other brokers, we don't just look at a snapshot. We aggregate data across different market sessions to provide a "Net Cost" profile.

  • Volume Weighting
    We analyze how costs scale. As your volume increases, the impact of "Flow RewardsTM becomes the deciding factor. While other brokers keep your commission static regardless of your contribution to the ecosystem, we believe in rewarding "clean" flow.
  • The Logic of "Flow RewardsTM"
    Unlike traditional "cashback" models which are often just rebates of marked-up spreads, Flow RewardsTM are a direct reflection of the value your trading flow brings to our liquidity providers.
  • Insight
    By reducing the "toxic" flow (latency arbitrage, etc.) through our invite-only model, our Liquidity Providers (LPs) can offer us tighter pricing. We simply pass those savings directly back to you.

Tickmill Overview

Tickmill is a global forex and CFD broker founded in 2014 and incorporated in Seychelles, subsequently expanding through regulated entities in the United Kingdom, Cyprus, South Africa, Malaysia, and the United Arab Emirates. The broker’s operational headquarters are in London, with offices also maintained in Cyprus, South Africa, and Dubai. Tickmill operates under a No Dealing Desk (NDD) execution model, routing client orders directly to liquidity providers without internal dealing desk intervention. The broker serves clients in over 180 countries, reports a monthly trading volume exceeding $129 billion, and has facilitated the opening of over 350,000 registered accounts. Its instrument coverage spans 60+ forex pairs, 15+ indices, 500+ stock and ETF CFDs, bonds, commodities, and cryptocurrencies.

Tickmill Regulation & Entity Structure

Tickmill operates through five regulated entities. Tickmill UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 717270; FCA-regulated clients are eligible for Financial Services Compensation Scheme (FSCS) protection up to £85,000. Tickmill Europe Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 278/15; CySEC-regulated clients benefit from Investor Compensation Fund (ICF) coverage up to €20,000, supplemented by an Excess of Loss insurance policy providing an additional €1,000,000 in protection. Tickmill South Africa (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) under FSP number 49464. Tickmill Asia Ltd is regulated by the Labuan Financial Services Authority (FSA Labuan) in Malaysia under licence number MB/18/0028. Tickmill Ltd, the global entity, is regulated by the Financial Services Authority (FSA) of Seychelles under licence number SD008. Client funds are held in segregated accounts across all entities, and negative balance protection applies to retail clients.

Tickmill Trading Platforms

Tickmill supports MetaTrader 4 and MetaTrader 5, available on desktop, web browser, and mobile (iOS and Android). A proprietary browser-based Web Trader is also available for account access without software installation. A dedicated MetaTrader application for macOS is provided for Apple desktop users. The broker supports Expert Advisors (EAs) and algorithmic trading strategies on both MT4 and MT5. Copy trading functionality is available through the broker’s social trading platform. VPS hosting is offered to qualifying clients to support automated strategy deployment with low-latency connectivity.

Tickmill Account Types

Tickmill offers two primary live account types. The Classic account is commission-free with spreads from 1.6 pips on major forex pairs and requires a minimum deposit of $100. The Raw account offers spreads from 0.0 pips with a commission of $3.00 per lot per side and also requires a minimum deposit of $100. A third account type, the Tickmill Trader Raw, is paired with the broker’s proprietary Tickmill Trader platform and replicates the Raw account’s commission and spread structure. Leverage is available up to 1:30 for retail clients under FCA and CySEC regulation and up to 1:1000 through the Seychelles entity. Swap-free (Islamic) account options are available for both Classic and Raw accounts. Demo accounts are available with no expiry.

FAQ.

Does Tickmill's raw spread model make it cheaper than Afterprime?+

Tickmill’s Raw ECN account offers tight spreads plus a $2 per side commission ($4 round turn). Afterprime’s zero-commission model bundles the cost into the spread. The all-in cost per lot is the only meaningful comparison and forexbenchmark’s 7-day average data shows Afterprime ahead on every tracked major.

What platforms does Tickmill support?+

Tickmill: MT4 and MT5. Afterprime: MT4, MT5, WebTrader, FIX API, and TraderEvolution. Tickmill has no proprietary platform and no FIX API offering. Afterprime’s FIX API support is relevant for algorithmic traders who need direct market access infrastructure.

Tickmill is regulated by the FCA and CySEC - does that give it an edge?+

Tickmill holds FCA (UK) and CySEC (Cyprus) licences. Afterprime is regulated by the FSA Seychelles, license SD057. FCA and CySEC licences are more recognised in Western markets. What matters for trading economics is execution quality and cost and on both dimensions, Afterprime leads on majors regardless of licence jurisdiction.

Who has better execution speed?+

Afterprime publishes sub-50ms execution latency. Tickmill does not publish a specific latency target. For algorithmic and high-frequency traders, execution speed is not a marketing claim – it’s a measurable, verifiable cost. Afterprime makes that claim verifiable.

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