TickMill can be described as an NDD broker with very low trading fees in general: from spreads to withdrawal and deposit fees, they offer the lowest cost trading experience. Unlimited demo accounts and excellent account options are also positive factors.
The broker also supports scalping, hedging and the use of EA options within your trading platform, as well as offering VPS services that you can take advantage of. They also offer social and copy trading services, however, they only offer these services to clients from outside the UK or EU. Their MT4 trading platform is open to everyone.
|🗺️ Regulation||FCA, FSA, CySEC|
|📉 Instruments||62 currency pairs, Cryptocurrencies, Bonds, CFDs and Precious Metals, Stock indices|
|🖥 Platforms||Mt4, WebTrader|
|💰 EUR/USD Spread||0.3 pips|
|🎮 Demo Account||Available|
|💰 Base currencies||USD, GBP, EUR|
|💳 Minimum deposit||100 USD|
|📚 Education||Professional education center with Trading Blog|
Types of accounts
There are three main account types in Tickmill’s program, you can choose between a spread-only based account or a Pro account with a commission per trade. The third type of account is designed for traders with high trading volumes and is called a VIP account, whose conditions are customized and set according to the agreement.
Benefits and drawbacks to consider before deciding
Before you get started, there are a few things to consider when opening an account. First, you need to know that TickMill doesn’t have the largest selection of assets. In total, there are about 80 assets to choose from, and stocks are not even among them. You can also trade certain options and futures.
However, there are many positives. tickMill has very low trading costs. They also offer a variety of different types of accounts, especially for those who live in the UK or EU.
Each account has a very fast execution time, and in addition, you can withdraw and deposit money freely by using the various methods offered. For those who are just starting to trade, you can also take advantage of the unlimited demo accounts.
To ensure the security and transparency of transactions in accordance with FCA regulations, Tickmill holds client funds in segregated accounts at trusted financial institutions. In addition, clients are protected by the FSCS and can invest up to £50,000.
TickMill Pros and Cons
You can change the balance anytime you want
|Minimum Deposit||From $100;|
Good range of payment methods
|List of Base currencies is small|
|Forex||Low spreads||Some brokers offer a wider selection of currency pairs|
|CFD||Low and competitive spreads||The asset selection is a little limited (80+)|
|Copy/Social Trading||Available through the Pelican Mobile App;|
Sort of copy trading with myfxbook for MT4
|Other brokers may provide a better service;|
Pelican App not available for UK and EU traders
TickMill CFD and Forex ReviewsThe site has over 60 currencies on TickMill. As far as forex trading is concerned, this is a good thing. The spreads are also a good value. They start at 0 pips and the EUR/USD spreads range from 0 pips to 0.1% when trading on a professional’s account.
Metals, bonds, stock indices, and cryptocurrencies are also available as CFDs. There are more than 80 options to choose from and the spreads are generally favorable. For example, the average of the UK 100 index is 0.9 pips, as is the average of gold/XAU.
Payment options including popular Bank Transfers, Credit/ Debit Cards, E-wallets Neteller, fasapay, UnionPay, dotpay, NganLuong. vn (only for clients of the Tickmill Ltd Seychelles) with available currencies USD, EUR, GBP, PLN.
Withdrawals, deposits or requests from Tickmill can be made through your online account. In addition, withdrawals are processed by Tickmill within 2 to 3 business days, as required. Tickmill offers a zero-fee policy, which means that there are no fees or charges for transactions in the form of currency. Any deposits up to $5,000, including the zero fee policy and all fees up to $100 will be paid.
It is recommended that you also consider customer support, Tickmill has a team of professionals who are able to support international languages 24/7 via live chat email as well as phone lines in different regions, which includes customers in the UK as well as internationally.
However, customer support is not open on weekends, so send your queries via the contact form and get notified.