Tickmill is a forex broker that offers the MetaTrader 4 and MetaTrader 4 Web Trader trading platforms for currency trading. For your own investment and trading possibilities, the trading broker offers over 80 currency pairings, gold, silver, bonds, and CFDs. In addition, with its VIP and PRO accounts, it offers professionals competitive commission-based pricing. Tickmill was created in 2014 and is headquartered in Seychelles, United Kingdom. It is a legal broker because it is regulated in one tier-1 and two tier-2 jurisdictions.
One of the requirements for broker authorization and its regulatory authorities might be that client money be kept separate from the broker account and could only be used by traders to execute trading activities. The Tickmill is also approved by the Financial Conduct Authority, a tier-1 regulator (FCA).
Web Trader
Tickmill’s Web Trader provides users with a trustworthy and intuitive interface that is strengthened by securely encrypting all transferred data. It has all of the same features as the native application. Traders may open and close trades with a single click, use effective risk management, and enjoy superior charting features.
Types of Accounts
This broker offers three main types of accounts.
Bottom Line
Tickmill is perfect for active and VIP traders since it offers pricing that is competitive with the industry’s lowest brokers.
Classical Account
Traders simply pay the bid/ask spread on the Classic account, which is commission-free. The Classic account, on the other hand, has bigger average spreads than the other two account types, making it undesirable.
Pro Account
Both the Pro and VIP accounts carry a per-trade commission, which helps to lower the current spreads and make them more competitive. The Pro account, which has a lower commission cost than the Classic account, will be perfect for most traders, as spreads are intrinsically less expensive, and 75 trading tools, including 62 currency pairings, are available.
Commissions and Spreads
When adding in the RT commission equivalent of 0.4 pips, the all-in cost translates to 0.53 pips using Tickmill’s usual spread data for its Pro account offering of 0.13 pips for the EUR/USD. It’s worth mentioning that during regular market conditions, Tickmill records usual spread statistics (when spreads are narrower).
While a minimum balance of $50,000 is required for traders to enjoy low commissions of $1 per standard lot (100,000 units) or $2 for each Round-Turn (RT), the Pro account offers similar pricing with an RT commission of just $4 per round-turn standard lot. With as little as a $100 payment, you can get a Pro account.
The brokers offer three tiers of rebates for active traders, ranging from $0.25 per standard lot for up to 1000 standard lots per month to $0.75 per standard lot for those who trade more than 3001 standard lots per month.
Not only that, it allows trading as little as 0.01 Lot. Depending on the account you open, this may differ. On the other hand, brokers may offer fewer entrance criteria as a market maker than an ECN broker, which benefits from a higher number of transactions and normally requires more capital and minimum trading requirements. Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and no trading commission.
Deposits and Fees
When opposed to other brokers, Tickmill charges no account opening or withdrawal fees, and the minimum amount required to start a live account is $100.
Tickmill provides traders with a variety of payment and deposit methods to choose from when making deposits. Funds must always be returned using the same method as when they were deposited.
Tickmill accepts deposits via local bank transfer, as well as VISA and Master credit and debit cards. Payment will also be made by e-Wallets such as Skrill, Neteller, PaySafeCard, Fasapay, or China UnionPay. These will take one working day to process.
Conclusion
Tickmill is a reputable Forex broker that secures the clients’ assets and data. Payments are handled within one day. There are a variety of payment options available for everyone. The best part is that you don’t have to pay any fees for withdrawals. Overall, this forex broker is a regulated and trusted platform for traders and starters. Profits can be withdrawn quickly, easily with no withdrawal fee.