Tickmill is a reliable British platform, which is obligatorily regulated by 3 different companies in Cyprus, the Seychelles and the UK. Because of this, the company gets our trust. The minimum deposit is $100, there are no commissions for deposit and withdrawal of funds.
A brief history of the company and its regulation.
Tickmill is a brand owned by Tickmill UK Ltd. The company strives to minimize spreads and commissions, as well as provides trading on a large number of assets – about 85 different instruments, and has 3 Tickmill account types.
The financial policy is based on the principle of keeping client funds separate. This means that traders’ money and the broker’s own funds are kept on different accounts, irrespective of their Tickmill account types.
|The company’s activity is controlled by 3 financial regulators|
|CySEC Cyprus organization.|
|The British organization FCA UK.|
|The company from Saint Vincent and the Grenadines FSA SC.|
Traders have the right to apply to these companies in case of disagreements on trade issues. The decisions of the regulators are binding for the Tickmill broker.
The company employs analysts and experts who also conduct regular trading operations in the Forex market. According to the broker itself, the selection of personnel began in the late 1980s. The director of the company is Duncan Anderson, who has 30 years of experience in the Forex market.
At various times Anderson worked on the London and Chicago Mercantile Exchanges and then moved to London, where he headed the stock trading department of American companies for a major broker. Later he became a director of the first Japanese brokerage firm, after which he obtained a license from the British regulator FCA UK and founded a company with three Tickmill account types.
Forex Tickmill account types are used to store and trade foreign currency.
Gaining access to the Forex market through a broker involves opening any Tickmill account types, depositing money in the currency you set.
Although it seems simple enough, choosing the right Tickmill account types is one of the most important aspects of choosing the right broker, because Tickmill account types can have a direct impact on profits and losses.
Typically, the forex market is teeming with a diverse range of traders, including beginners, mid-level traders, seasoned professionals and organizations, so there are many Tickmill account types.
Thus, the most important aspects to consider when choosing the right Tickmill account types for you are transaction fees, spreads and commissions, trading rates, trading software and platforms, and the range of markets available.
Tickmill account types and their characteristics
The brokerage company Tickmill account types of trading accounts:
- Classic variant;
- Professional Account ;
- For VIPs.
The first Tickmill account types are suitable for traders with small trading turnover. The last two are characterized by smaller spreads, but the trader pays a commission for using them.
Any of the above Tickmill account types can be converted into an Islamic account (“without swaps”). Its key feature is the absence of swaps – next day rollover fees, the payment of which is contrary to Shariah law.
If the “swap-free” position is not closed for more than three days, when working with exotic pairs, the daily commission will start to be charged.
The broker offers:
- about sixty currency pairs;
- popular indices;
- gold and silver contracts;
- German government bonds.
Tick Mill broker does not offer such instrument as binary option for work.
It is indicative that the broker has three foreign licenses at once and three Tickmill account types for the right to engage in intermediary activities on FOREX, but no license issued by the central bank of any of the CIS countries.
Tickmill is a broker that offers its clients to evaluate the quality of its services on one of Tickmill account types – demo account. Work on a demo account does not differ from work on a regular account: a trader who trades on a demo account uses the same terminal and can work with the same instruments as a stock speculator working on a real account. The only difference – he works not with real, but with virtual money. He does not risk anything.
But when opening a demo account with Tickmill you must remember, if it will be inactive for more than seven days, the site system will automatically block and delete it.
Opportunities and advantages of accounts
The broker offers three Tickmill account types: Metatrader 4 terminal and its web version. The dealer does not work with Metatrader 5.
The main features of MT4 are:
- flexible settings;
- possibility to use Expert Advisors and indicators;
- availability of nine timeframes;
- full execution of contracts;
- micro lots;
- a lot of built-in tools for technical analysis;
- the ability to expand the terminal’s functionality with third-party extensions.
|Features and benefits of the Tickmill account types||Professional||Classic||VIP|
|Minimum deposit:||100 USD / EUR / GBP||no|
|Minimum balance||no||no||50 000 USD / EUR / GBP|
|Base currencies|| |
USD, EUR и GBP
|Spreads||from 0.0 point||from 1.6 point|
|Commission||2 per side per traded 100,000||zero||1 per side per traded 100,000|
All strategies are allowed
|Islamic account option is available without swap|
A review of the broker shows that it is really quite a reliable company that values its reputation. It is set up for long-term cooperation with clients, so it offers them a number of advantages:
- no deposit and withdrawal fees;
- low spreads;
- opportunity to trade in 85 different instruments;
- convenient MT4 terminal;
- availability of free demo account;
- free training materials, which will be especially useful for beginners
- Three Tickmill account types
However, certain disadvantages can also be highlighted:
- the absence of a ruble account – users are constantly guided by the current exchange rate at which the conversion is carried out.