Tickmill is a company that provides forex trading services. They provide traders with a wide range of products in a number of markets, including currencies and indexes. Check out the Tickmill review for 2021 in this article.
|Segregates client funds||Limited range of instruments|
|Established in 2014||Not ASIC Regulated (See alternatives)|
|Regulated by Financial Conduct Authority|
|Min. deposit from $25|
$25 is a minimum amount to deposit for establishing a live account. Tickmill, on the other hand, offers a free trial account that you may use to get a feel for the platform.
The Financial Conduct Authority regulates the financial services industry in the United Kingdom. Tickmill employs tier-1 institutions to hold all customer funds in a segregated bank account. Tickmill has been in business since 2014, with headquarters in Seychelles, UK.
What are Tickmill’s fees 7 spreads?
Based on the spread, Tickmill charges a fee depends on the spread as other top forex brokers in the market do, which is the difference between an instrument’s buy and sell price.
The spreads and commissions shown below are referred from the Tickmill website’s data. The color bars reflect how competitive Tickmill’s spreads are compared to those offered by other prominent brokers on BrokerNotes.
Comparing to the mean EUR/USD spread of 0.70 pips, Tickmill’s minimal spread for trading EUR/USD is 0.2 pips. Tickmill’s fees for trading one lot of EUR/USD are compared to those of similar brokers in the table below.
How much does trading 1 lot of EUR/USD with Tickmill cost?
In case, the trader bought single EUR/USD (100k units) standard lot with Tickmill at a rate of 1.1719 and sold it at the same rate the next day, you would likely pay $6.94. Here’s a brief comparison of the fees to those of XTB and IG.
|Commission:||$ 0||$ 0||$0|
|Total 100k trade cost:||$0||$6||$2|
|$6 extra||$2 extra|
All prices/fees are provided for reference only and can vary with time.
What Tickmill offers you to trade?
Tickmill allows you to trade over a hundred different instruments, including over a hundred different currency pairings. Tickmill’s many sorts of instruments, as well as those supplied by IG and XTB, are listed here for comparison.
The experience with Tickmill trading
1) Apps and platforms
The popular MT4 forex trading platform is available through Tickmill. Check out MT4 broker comparison for a list of the best MT4 brokers on the internet. Traders are likely to trade on whatever devices they prefer, thanks to a variety of downloadable application programs for Windows and Mac. Tickmill now offers Android and iOS mobile apps, making it easy to keep track of and execute transactions while on the go.
2) Executing Trades
Tickmill allows you to trade as little as 0.01 Lot. Based on the account you go with; execution trade may vary. Depending on the trader and the instrument, the maximum trading requirements differ. You can get ahead with significant narrow spreads and transparency of the price you’re paying to execute your transactions because Tickmill offers ECN and STP execution.
Tickmill may offer fewer entrance criteria as a market maker than an ECN broker, which benefits from a higher number of transactions and generally requires more margin/money and minimum requirements to trade. Giant traders often offer the trader to invest less amount of minimum deposit/investment, fewer restrictions for trading, and charge no commission to trade.
Tickmill leads among those brokers who guarantee no requotes, so you won’t have to be concerned about slippage (trades usually are ordered at a different price than what you intended to execute from).
With many brokers, requirements of margins vary by account, trader, and instrument. You may see the most recent margin requirements on their website.
Finally, below is a summary of some of Tickmill’s most popular financing choices.
Features for Trading:
- Allows scalping
- Low min deposit
- Offers STP
- Allows hedging
- Mini account
- Demo account
- Standard account
- ECN account
- Zero spread account
- Islamic account
- Bank Transfer
- Credit cards
3) Customer support
English, Spanish, Russian, Chinese, Indonesian, and Vietnamese are among the languages supported by Tickmill.
Tickmill got a BrokerNotes double AA support grade since they provide email and phone assistance in over three languages.
4) tickmill’s requirements to open an account with them
Because Tickmill is regulated by the Financial Conduct Authority, every new customer must pass a few easy compliance tests to ensure that they understand the risks of trading and that they are authorized to trade. When you create an account, you’ll most likely be asked for the following information, so be prepared:
- A scanned color copy of your driver’s license, passport, national ID or other government-issued identification.
- A recent (past three months) bank statement or utility bill that shows your current address.
Set up at least 10 minutes to complete the account opening procedure, since you’ll be asked a few basic compliance questions to verify your trading expertise.
While you may be able to browse Tickmill’s website right away, you won’t be able to make any purchases until you pass compliance, which might take several days depending on your situation.