Comprehensive Review of Tickmill Broker: Everything You Need to Know

Comprehensive Review of Tickmill Broker: Everything You Need to Know

Comprehensive Review of Tickmill Broker Everything You Need to Know

Welcome to our comprehensive review of Tickmill Broker. This blog aims to provide you with everything you need to know about Tickmill, a renowned broker in the trading industry.

 

We’ll start by introducing you to Tickmill, giving you a brief summary of what it is. We’ll then delve into its legitimacy and regulation, answering key questions like whether Tickmill is a legit broker and who regulates it.

 

Next, we’ll explore the company information, including its origin, location, and ownership. This will be followed by a detailed discussion on account details, where we’ll cover aspects such as the minimum deposit, types of accounts offered, and how to open an account with Tickmill.

 

We’ll also discuss trading on Tickmill, including what you can trade, the commission, the spread, and whether Tickmill is suitable for scalping and High-Frequency Trading (HFT).

 

Our review will also guide you through the payment and withdrawal process at Tickmill, including the methods available and the duration it takes to withdraw funds.

 

Finally, we’ll wrap up by discussing the platforms offered by Tickmill, ensuring you have a complete understanding of the broker.

 

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What is Tickmill?

 

Tickmill is a global trading platform established in 2014. It has grown to serve over 270,000 clients with more than 550,000 registered accounts.

 

As a multi-asset broker, Tickmill provides access to a variety of markets including Forex, Stocks, Indices, Bonds, Commodities, Cryptocurrencies, and Futures. It offers three types of accounts: Classic, Pro, and VIP, each tailored with different features and benefits.

 

Tickmill is recognized for its low spreads, high leverage, and competitive commissions. It also provides a range of tools for traders, such as the Signal Centre Tool which offers unique human and AI-driven analysis with actionable trading ideas.

 

In addition to its core trading services, Tickmill has also ventured into the world of digital currencies. In July 2021, it introduced Contracts for Difference (CFDs) on Bitcoin, Ethereum, and Litecoin.

 

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Tickmill Summary

 

🌍 Country of Regulation: UK (FCA), Cyprus (CySEC), Seychelles (FSA), South Africa (FSCA), Malaysia (SC), Dubai (DFSA)
🛡️ Negative Balance Protection: Yes
💰 FX Commission per Lot: $2.00 per lot per trade
📊 EURUSD Spread: 0.2
Inactivity Fee Charged: No
💸 Withdrawal Fee: $0
💵 Minimum Deposit: $100
💴💶💷💵 Available Base Currencies: EUR, GBP, USD, PLN, CHF
🔄 Conversion Fee of Deposits in Non-Base Currency: Exchange rate received from liquidity providers plus a mark-up. The EURUSD trading fees were used for the calculation.
💳 Deposit with Bank Card: Available
👛 Deposit with Electronic Wallet: Available
⏱️ Time to Open an Account: 1 day
🎮 Demo Account Provided: Yes
🔢 Number of Currency Pairs: 62
🛍️ Products Offered: Forex, CFD, Crypto

 

Legitimacy and Regulation

 

Is Tickmill a legit broker?

 

Yes, Tickmill is a legitimate broker. It is globally recognized and regulated by several financial authorities, which adds to its credibility. It was established in 2014 and has since grown to serve a large number of clients worldwide.

 

Tickmill offers a wide range of financial products and is known for its competitive commission-based pricing, particularly for its VIP and Pro accounts. It provides access to various markets including Forex, Stocks, Indices, Bonds, Commodities, Cryptocurrencies, and Futures.

 

The company has a clean track record with no major regulatory incidents or fines. It is regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK. For UK clients, investor protection is up to £85k and for EU clients, it’s up to €20k.

 

It’s important to note that while regulation provides a layer of safety, it does not guarantee that every regulated broker is honest. Therefore, potential investors are advised to do their own research and understand the risks involved in trading financial products.

 

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Who is Tickmill regulated by?

 

Tickmill is regulated by several reputable financial authorities worldwide, ensuring its operations adhere to strict standards of conduct and providing a level of security for its clients. Here’s a list of the regulatory bodies that oversee Tickmill’s operations:

 

1. Seychelles Financial Services Authority (FSA): Tickmill Ltd is regulated as a Securities Dealer by the FSA. The FSA is responsible for the licensing, supervision, and development of non-bank financial services in Seychelles.

2. Financial Conduct Authority (FCA): Tickmill UK Ltd is authorised and regulated by the FCA, an independent public body in the UK. The FCA regulates the conduct of both retail and wholesale financial services firms in the UK.

3. Dubai Financial Services Authority (DFSA): Tickmill UK Ltd has a Representative Office regulated by the DFSA, an independent regulatory authority of financial services and related activities conducted in or from the Dubai International Financial Centre.

4. Cyprus Securities and Exchange Commission (CySEC): Tickmill Europe Ltd is authorised and regulated by the CySEC as a CIF limited company. CySEC is the financial regulator of the Republic of Cyprus.

5. Labuan Financial Services Authority (Labuan FSA): Tickmill Asia Ltd is authorised and regulated by the Labuan FSA, which oversees the international business and financial services industry in Labuan.

6. Financial Sector Conduct Authority (FSCA): Tickmill South Africa (Pty) Ltd is authorised and regulated by the FSCA, the dedicated market authority in South Africa.

 

These regulatory bodies play a crucial role in ensuring that Tickmill operates with transparency and integrity, providing a secure trading environment for its clients. However, it’s important for potential investors to conduct their own research and understand the risks involved in trading financial products.

 

Tickmill Logo

 

Company Information

 

What country is Tickmill from?

 

Tickmill is an international trading platform with its roots in Seychelles. This is where its head office is located and where it was originally established. Over the years, Tickmill has expanded its operations globally and is now regulated by several financial authorities around the world. Despite its international presence, the origin of Tickmill remains in Seychelles, underscoring its identity as a global broker with a local touch.

 

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Where is Tickmill company located?

 

Tickmill is a global trading platform with offices in various locations around the world. Here are the details:

 

1. Seychelles: The head office of Tickmill is located in Seychelles, specifically at Eden Plaza, Eden Island, Mahe.

2. Malaysia: Tickmill has an office in Malaysia, located at Paragon Labuan, Jalan Tun Mustapha, Labuan F.T.

3. South Africa: Tickmill has two offices in South Africa. One is in Cape Town, located at The Pavilion, Cnr Dock and Portswood Rd, V&A Waterfront. The other is in Johannesburg, located at The Cube, 205 Rivonia Road, Morningside, Sandton.

4. United Kingdom: Tickmill’s headquarters is located in London, specifically at 27-32 Old Jewry.

5. Other Locations: Tickmill also has offices in Tallinn, Estonia and Limassol, Cyprus.

 

These locations reflect Tickmill’s global presence and commitment to serving clients from different parts of the world.

 

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Who is the owner of Tickmill?

 

Tickmill is owned and operated by the Tickmill Group of companies. The group was co-founded by Ingmar Mattus, Illimar Mattus, and Nikolai Nikolajenko. Ingmar Mattus and Illimar Mattus serve on the executive boards of several regulated entities of Tickmill Group, bringing more than 20 years of professional experience in the field of international finance. Nikolai Nikolajenko is an Executive Director at Tickmill Ltd in Seychelles.

 

The successful management team behind Tickmill Group also includes Sudhanshu Agarwal, the Chief Executive Officer of Tickmill Ltd in Seychelles, Duncan Anderson, the Chief Executive Officer of Tickmill UK Ltd in the United Kingdom, and Valerijus Ovsianikas, the Chief Executive Officer of Tickmill Europe Ltd in Cyprus.

 

It’s important to note that while the company has a strong team of experienced professionals leading its operations, potential investors should conduct their own research and understand the risks involved in trading financial products. Trading on margin carries a high degree of risk and may not be suitable for all investors, as losses can exceed the initial investment. It’s crucial to fully understand these risks and manage them appropriately.

 

Tickmill Logo

 

Account Details

 

How much is the minimum deposit for Tickmill account?

 

The minimum deposit required to open a live trading account with Tickmill depends on the type of account you choose. For the Classic and Pro accounts, the minimum deposit is $100. This means that you need to deposit at least $100 to start trading with these accounts.

 

However, for the VIP account, the minimum balance requirement is significantly higher. The VIP account requires a minimum balance of $50,000.

 

These are the minimum requirements and traders may choose to deposit more based on their trading strategy and risk tolerance.

 

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What type of accounts does Tickmill offer?

 

Tickmill offers a variety of account types to cater to the diverse needs of traders worldwide. Here’s a detailed look at the different types of accounts offered by Tickmill:

 

1. Classic Account: The Classic Account is designed for traders who prefer trading without any commissions. The minimum deposit for this account is $100, and it offers spreads from 1.6 pips. This account allows all trading strategies and also has a swap-free Islamic account option.

2. Pro Account: The Pro Account is suitable for experienced traders looking for more competitive conditions. The minimum deposit is also $100, but it offers tighter spreads starting from 0.0 pips. There is a commission of $2 per side per 100,000 traded. Like the Classic Account, it allows all trading strategies and has a swap-free Islamic account option.

3. VIP Account: The VIP Account is designed for high-volume traders. It requires a minimum balance of $50,000. It offers spreads from 0.0 pips and a lower commission of $1 per side per 100,000 traded. This account also allows all trading strategies and has a swap-free Islamic account option.

4. Demo Account: Apart from these live accounts, Tickmill also offers a Demo Account. This risk-free account is perfect for beginners who want to practice their trading strategies and get familiar with the platform before trading with real money.

5. Islamic Account: Tickmill also offers an Islamic Account, also known as a Swap-Free account, which complies with the Sharia law. It’s available for traders who cannot earn or pay interest due to their religious beliefs.

 

These account types are designed to meet the needs of different types of traders, from beginners to experienced professionals.

 

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Which Tickmill account is best?

 

The best Tickmill account depends on your individual trading needs, experience, and investment capital. Here’s a brief overview of each account type to help you decide:

 

1. Classic Account: This account is ideal for beginners or those who prefer trading without any commissions. It offers spreads from 1.6 pips and allows all trading strategies. The minimum deposit is $100.

2. Pro Account: This account is suitable for experienced traders looking for more competitive conditions. It offers tighter spreads starting from 0.0 pips and charges a commission of $2 per side per 100,000 traded. The minimum deposit is also $100.

3. VIP Account: This account is designed for high-volume traders. It offers spreads from 0.0 pips and a lower commission of $1 per side per 100,000 traded. However, it requires a minimum balance of $50,000.

4. Demo Account: This risk-free account is perfect for beginners who want to practice their trading strategies and get familiar with the platform before trading with real money.

5. Islamic Account: This is a Swap-Free account that complies with the Sharia law. It’s available for traders who cannot earn or pay interest due to their religious beliefs.

 

Generally, the VIP account is considered the best in terms of competitive conditions, but it requires a significant investment. If you’re a beginner, the Classic account might be more suitable. If you’re an experienced trader but don’t want to invest $50,000, the Pro account could be a good fit.

 

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How do I open a Tickmill account?

 

Opening a Tickmill account involves a few steps. Here’s a step-by-step guide:

 

1. Choose Account Type: Click HERE to navigate to the Tickmill website. Once there, click on the “Create Account” button. You’ll be asked to choose the type of account you want to open – Classic, Pro, VIP, or Demo.

2. Enter Personal Details: Fill out the registration form with your personal details. This includes your name, email address, phone number, and residential address.

3. Enter Financial Information and Experience: You’ll be asked to provide information about your financial status and trading experience. This helps Tickmill understand your trading knowledge and ensure they offer you a suitable trading environment.

4. Attach KYC Documents: As part of the Know Your Customer (KYC) process, you’ll need to upload certain documents to verify your identity and address. This typically includes a copy of your passport or ID card, and a recent utility bill or bank statement showing your full name and address.

5. Review and Confirm: Review all the information you’ve provided, make sure it’s accurate, then submit your application. Tickmill will review your application and, once approved, you’ll receive an email with your account details.

 

Remember, trading involves significant risk and isn’t suitable for all investors. It’s important to understand the risks involved and ensure you’re comfortable with them before you start trading.

 

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How is Tickmill  customer service?

 

Tickmill’s customer service is recognized for its prompt response times and helpful solutions. They offer support through phone, email, and chat, but their services are only available during working hours.

 

There are several ways to get in touch with Tickmill:

 

1. Email: You can send them an email at their support email address. They typically respond within 24 hours on business days.
2. Phone: You can call their client support team. The contact number varies depending on your location.
3. Live Chat: They provide real-time assistance through the live chat feature on their website.

 

Please note that their client support hours may vary depending on your location. For instance, their support hours are from Monday to Friday, 7:00 – 16:00 GMT during Daylight Saving Time for some regions.

 

Tickmill Logo

 

What type of broker is Tickmill?

 

Tickmill stands out as an Electronic Communication Network (ECN) broker. This means that they provide a direct link between traders and liquidity providers in the Interbank Forex market. As an ECN broker, Tickmill offers tight spreads and a transparent trading environment.

 

Traders can see the best bid and ask prices available from the market, ensuring a fair and open trading experience. Moreover, ECN brokers like Tickmill typically offer faster execution speeds and less slippage, as orders are filled directly at market rates.

 

In essence, Tickmill’s ECN model allows traders to take advantage of real-time price rates from a wide array of global banks and financial institutions, providing a dynamic, fluid trading experience. This makes Tickmill an excellent choice for traders seeking a reliable, efficient, and transparent trading environment.

 

Trading on Tickmill

 

What can I trade on Tickmill?

 

Tickmill offers a wide range of financial instruments for trading. Here’s a list of what you can trade on Tickmill:

 

1. Forex: Tickmill provides access to more than 60 currency pairs, allowing traders to take advantage of the volatility in the foreign exchange market.

2. Stock Indices and WTI: You can trade on more than 15 indices and West Texas Intermediate (WTI), a grade of crude oil used as a benchmark in oil pricing.

3. Precious Metals: Tickmill offers trading on precious metals like gold and silver, which are often considered safe-haven assets.

4. Commodities: Apart from precious metals, you can also trade other commodities such as oil and gas.

5. Cryptocurrencies: Tickmill allows trading on popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

6. Bonds: You can trade German bonds on Tickmill.

7. CFDs on Stocks: Tickmill offers Contracts for Difference (CFDs) on over 500 stocks, allowing traders to speculate on the rising or falling prices of fast-moving global financial markets (or instruments) such as shares, indices, commodities, currencies, and treasuries.

8. Futures and Options: Tickmill also provides trading on futures and options, including S&P 500, DJIA, and NASDAQ.

 

Remember, trading involves significant risk and isn’t suitable for all investors.

 

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How much is Tickmill commission?

 

Tickmill’s commission structure varies depending on the type of account you choose. For the Pro Account, a commission of $2 per side per 100,000 traded is charged. This means that for a round turn (opening and closing a position), the commission would be $4.

 

However, for high-volume traders using the VIP Account, the commission is reduced to $1 per side per 100,000 traded, making the round turn commission $2.

 

It’s important to note that the Classic Account does not charge any commission, but instead, the trading cost is included in the spread.

 

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What is the spread in Tickmill?

 

Tickmill offers competitive spreads that can vary based on the type of account and the financial instrument being traded. For example, the typical spread for the EUR/USD on the Pro account is 0.11 pips. However, when you factor in the round turn commission equivalent of 0.4 pips ($2 per side), the total cost comes to 0.51 pips.

 

Tickmill has also tightened the Forex spread to 0.0 pips for some instruments. This allows traders to potentially reduce their transaction costs and increase their profits.

 

However, it’s important to note that spreads can widen during volatile market conditions.

 

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What is the maximum leverage in Tickmill?

 

Tickmill offers a maximum leverage of 1:500 for its Classic, Pro, and VIP accounts. This high leverage allows traders to trade larger positions with a smaller amount of capital. However, it’s important to remember that while leverage can increase potential profits, it can also amplify losses. Therefore, it’s crucial to manage risk effectively when trading with high leverage.

 

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Is Tickmill good for scalping?

 

Yes, Tickmill is considered a good broker for scalping. It offers tight spreads and low commissions, which are crucial for scalping strategies. The execution speed on Tickmill is also commendable, averaging at 0.1 seconds, which is beneficial for scalpers who rely on quick trade executions.

 

Tickmill allows almost any trading strategy, including scalping, making it a great tool for day trading and Expert Advisor (EA) trading. Therefore, scalpers and hedgers can use the platform to practice their strategies.

 

However, it’s important to note that while scalping can potentially lead to quick profits, it also involves significant risks due to the high frequency of trades. Therefore, it’s crucial for traders to have a solid understanding of the market and effective risk management strategies when using scalping techniques.

 

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Does Tickmill allow HFT trading?

 

Yes, Tickmill does allow High-Frequency Trading (HFT). HFT is a type of algorithmic trading characterized by high speeds, high turnover rates, and high order-to-trade ratios. It leverages powerful computers to transact a large number of orders at extremely fast speeds.

 

Tickmill’s robust infrastructure and fast execution speeds make it a suitable platform for HFT. However, it’s important to note that HFT involves significant risks and requires a deep understanding of the market and trading algorithms. Therefore, it’s recommended for experienced traders who are familiar with algorithmic trading and have the necessary risk management strategies in place.

 

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Payment and Withdrawal

 

How can I withdraw from Tickmill?

 

Withdrawing funds from your Tickmill account is a straightforward process. Here are the steps you need to follow:

 

1. Verify Your Trading Account: Before you can withdraw funds, make sure your trading account is fully verified. Tickmill, being a regulated broker, requires certain documents to confirm your identity and address. This typically includes a copy of your passport or ID card, and a recent utility bill or bank statement showing your full name and address.

2. Select Your Trading Account: Log in to your Tickmill account and select the trading account from which you want to withdraw funds.

3. Select the Payment Method: Tickmill offers multiple withdrawal methods including bank transfer, credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, and PayPal. Choose the method that suits you best. Remember, you can only withdraw funds to accounts that are in your name.

4. Enter the Withdrawal Amount: Specify the amount you wish to withdraw and submit the withdrawal request.

5. Wait for Processing: Once you’ve submitted your withdrawal request, Tickmill will process it. The withdrawal process is usually executed within 1 day.

 

Please note that while Tickmill does not charge any withdrawal fees, your payment provider might. Always check with your payment provider about any potential fees associated with withdrawing funds.

 

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How long does it take to withdraw from Tickmill?

 

The withdrawal process at Tickmill is typically quick and efficient. Once you’ve submitted your withdrawal request, Tickmill generally processes it within one business day. However, the total time it takes for the funds to reach your account can depend on the payment method used and the processing time of your bank or payment provider.

 

While Tickmill strives to process withdrawals promptly, there may be instances where it could take longer due to factors beyond their control.

 

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What is the payment method of Tickmill?

 

Tickmill provides a range of payment methods to cater to its users’ needs. Here are some of the options:

 

1. Bank Transfers: This conventional method allows you to transfer funds directly from your bank account.
2. Credit or Debit Cards: Tickmill accepts both Visa and Mastercard.
3. E-Wallets: Options such as Skrill, Neteller, and STICPAY are available.
4. Crypto Payments: You can make payments in BTC, ETH, or USDT. However, the availability of these options may vary among regions.
5. Other Methods: FasaPay and Chinese UnionPay are also accepted.

 

Please note that all deposits starting from 5,000 USD or equivalent, processed in one transaction by bank wire transfer, are included in Tickmill’s Zero Fees Policy. The minimum deposit and withdrawal amounts are generally 100 and 25 units of the respective currency. The processing time for both deposits and withdrawals is typically within one working day.

 

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Platforms Offered by Tickmill

 

What Platforms does Tickmill offer?

 

Tickmill provides its clients with a robust and versatile trading experience through the use of multiple platforms. Here are the key platforms offered by Tickmill:

 

1. MetaTrader 4 (MT4): MT4 is a widely used trading platform in the world, known for its user-friendly interface and advanced chart-generating functions. It supports a range of applications, from advanced analysis to designing and testing automated expert advisors. MT4 is available for Windows, Mac, and mobile devices.

2. MetaTrader 5 (MT5): MT5 is the new generation of the MetaTrader platform, offering more features and advanced tools. It supports all types of trade orders, including Limit, Stop, and Stop-Limit orders. MT5 is equipped with superior algorithmic applications, including Expert Advisors, Trading Robots, and Copy Trading. It’s available for Windows, Mac, Android, iOS, and WebTrader.

3. Tickmill Mobile App: For traders who prefer to trade on the go, Tickmill offers a mobile app that supports both MT4 and MT5 platforms. The app is available for both Android and iOS devices.

4. WebTrader Platform: This platform allows users to trade directly from their web browser without the need to download any software. It supports both MT4 and MT5 platforms.

 

Remember, the choice of platform should align with your trading needs and preferences. Each platform offers unique features and tools to enhance your trading experience.

 

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