Tickmil broker is one of the brokers in the financial markets that offers forex trading, indexes, as well as cryptocurrency trading. In this Tickmill broker review, we will explore more deeply the reputation of this broker.
Tickmill broker at a glance, this broker is based in Seychelles. Regulated in the three jurisdictions FSA Seychelles, FCA UK, and Cysec Cyprus. Founded in 2014 under the Tickmill group of companies. Offering investments in the forex, stock indices, and oil, metals, bonds, and cryptocurrencies.
- 1 Tickmill company overview
- 2 Is Tickmill a regulated broker?
- 3 Tickmill broker type
- 4 Tickmill platform trading
- 5 Account trading types
- 6 Tickmill payment method
- 7 Tickmill broker minimum deposit
- 8 Trading fee
- 9 Tickmill broker bonus
- 10 Tickmill broker forex Malaysia
- 11 Tickmill broker review Forexpeacearmy
- 12 Tickmill broker review TrustPilot
- 13 Tickmill broker review WikiFX
- 14 Pros and cons
- 15 Conclusion
Tickmill company overview
Tickmill is a global group of companies engaged in finance as a provider of investment services in forex trading instruments from indexes, metal commodities, and cryptocurrency were founded in Seychelles in 2014 but have grown to become one of the most award-winning brokerage firms.
According to statistics on its official website, Tickmill has served more than 200 countries, has an execution speed of 0.20 seconds.
Tickmill’s head office is in London: 1 Fore Street, London EC2Y 9DT, United Kingdom. This broker created by traders for traders is growing with an average volume of 200 billion trades per month according to Trusted broker reviews.
Is Tickmill a regulated broker?
For traders, finding a licensed broker is very important for trading security from company fraud. To get a license itself requires certain criteria and requirements must be met. A policy violation means in most cases an immediate loss of license.
Tickmill brokers are licensed including FCA (UK), CySEC (Cyprus), and FSA (Seychelles). European traders use a UK license (FCA) or CySEC license, and on the other hand, international traders have to opt for the FSA license.
In the FCA, this is a UK regulation, Tickmill has an FCA Registration Number: 717270. For an FSA license with a license number: SD008, and a Cysec with a license number: 278/15. Tickmill South Africa is regulated by the Financial Sector Conduct Authority (FSCA) with license number: FSP 49464.
Tickmill broker type
According to Dalyforex, Tickmill is a proven market maker in its Classic accounts. While the Pro Account is an ECN/NDD account which means it is not a market maker. However, this broker fails to provide which MT4 bridge to use, suggesting a market maker model across all account types. But according to the official site, Tickmill is a Non-Dealing Desk broker, so this is not a market maker, but they offer market execution instantly.
One advantage of Tickmill is that they allow traders to use all kinds of strategies including scalping, hedging, or using trading robots.
One of the characteristics of market maker brokers is frequent requotes. But we haven’t found that Tickmill traders often experience this problem.
The definition of a market maker itself is that the broker creates its liquidity known as the Dealing Desk, so that when a trader opens an order but the price is not available in liquidity, a new price will appear, known as requotes.
Tickmill platform trading
Tickmill brokers rely on the Metatrader 4 and Metatrader 5 platforms to support traders in making transactions on the financial markets they want.
Metatrader 4 itself is available for several devices such as mobile, Apple, Windows, and Mac. Likewise, Metatrader 5 is available on several supported devices.
Besides using the Metatrader 4 and 5 platforms, Tickmill broker also offers web traders. This is a platform where traders don’t need to install any software on their computers, they just need to visit a specific address to log in to their trading account and make transactions.
The Metatrader platform is still the most popular platform among traders and is very user-friendly and can be explored by users to use automated trading, subscribe to trading signals, and so on.
Account trading types
Tickmill broker offers three types of accounts:
- Classic account.
- Pro account.
- VIP account.
The Pro account and Classic account have a minimum deposit of only $100, while the Pro account has a minimum balance of $50000 with a maximum leverage of 1:30 for retail accounts and 1:500 for pro accounts.
This is an account designed especially for novice traders and uses NDD and market execution models, available currencies USD, EUR, GBP, PLN. With a minimum spread of 1.6 pips, offers leverage of 1:30 for retail and 1:500 for Pro clients, a minimum deposit of $100.
The Pro account is designed for experienced traders with spreads starting from 0.0 and commission will be charged at 2 per side per 100,000 traded.
This account also uses the NDD model, Margin Call / Stop-out rules: 100% / 50% (Retail Client), 100% / 30% (Professional Client). The minimum deposit is also $100 with access to forex, stocks, metals and bonds, and crypto markets.
VIP account is an account type designed for professional traders with a minimum balance of $50,000, it also offers an NDD model with an average execution speed of 0.20 seconds.
Leverage in this VIP account is the same as for other account types, where for retail clients the maximum is 1:30 and for Pro clients, the maximum is 1:500.
It starts with bidding spreads from 0.0 pips with the commission charged 1 per side per 100,000 traded.
Account demo and free swap account
For beginners who are new to forex and want to try a broker platform, Tickmill also offers a demo account, this is a risk-free trade as it uses virtual money.
And for Muslim traders, Tickmill broker also offers shariah accounts which are swap-free accounts. This means that when a trader holds an order overnight, there will be no swap fee on the order. Be it a positive swap or a negative swap.
The Tickmill market consists of forex, stock and oil indices, bonds, and cryptocurrencies. In the forex market, there are more than 60 trading pairs for traders to choose from.
In the indices and oil indices market, there are more than 14 indices including oil including DE40, FRANCE4, HK50, ITALY40, JP225, UK100. US30,’ US500,’ USTEC,’ BRENT, and, WTI (XTIUSD).
Tickmill broker market on precious metals there is gold and silver in symbols XAUUSD and XAGUSD.
For the bond market, Tickmill broker offers access to German bonds, there is #EURBOBL, #EURBUND, #EURBUXL. and #EURSCHA.
While the other instrument is the cryptocurrency market, here there are three main pairs BTCUSD, ETHUSD, and LTCUSD available.
Tickmill payment method
Till at the payment methods supported by Tickmill broker. There are many payment options available that make it easy for clients to deposit and withdraw.
There are bank transfer options, credit cards, Skrill, Neteller, Dotpay, Paysafecard, Sofort, Rapid by Skrill and Paypal. The payment system option is processed instantaneously except for bank transfers which take a day to deposit, while withdrawals are processed within one day with a minimum withdrawal of $25.
Tickmill broker minimum deposit
The minimum deposit for Classic and Pro accounts is $100, while for VIP accounts the minimum balance is $50,000.
Tickmill offers low transaction fees, which for Classic accounts starts from 1.6 pips, but because it is an NDD broker the spread may widen when market volatility is high.
On Classic accounts, there is no commission fee, while on Pro and VIP accounts the spread starts from 0.0 pips with the difference in commission on Pro accounts being 2 for every 100,000 contract size. For example, you trade 1 lot on EURUSD, which has a contract size of 100,000 EUR, then your commission per side is 2 EUR and 4 EUR round turn.
While on the VIP account he is charged a commission fee of 1 for every 100,000 contract sizes. Meanwhile, for cryptocurrencies, the typical spread rules are different for each pair. For BTCUSD the minimum spread is 80, ETHUSD the minimum spread is 4.50, and LTCUSD the minimum spread is 1.25.
For detailed info, you can go directly to the official Tickmill page to consider the pair to be traded.
Tickmill broker bonus
In the promotion month, Tickmill offers a $30 sign-up bonus for new traders who join. But now it seems the offer is over. The only thing still valid is the referral bonus as part of the partnership program.
Another bonus is the bonus from Trader of the month, every trader who shows the best skills and becomes the next trader of the month will receive a prize of $ 1000. citing from Sa Shares.
Tickmill broker forex Malaysia
Tickmill is a global broker, which is also available to Malaysian clients, and traders from Malaysia can enjoy all of Tickill’s services under the regulations of the Financial Services Authority of Labuan Malaysia.
Citing from Forex Malaysia, Malaysian traders will be directed to Tickmil Seychelles, which is regulated by the Seychelles FSA.
This raises a question as to why Tickmill would hold a license from Labuan Financial Services but direct its traders to a Seychelles-based entity. This means Malaysian client funds are not held in Malaysian banks and disputes cannot be handled locally by LFS. As we know the Seychelles FSA provides less regulatory oversight than regulators from the EU and Australia.
Tickmill broker review Forexpeacearmy
Forexpeacearmy is one of the sites that traders refer to when they are looking for and finding a new broker. It is one of the largest forex communities in the world with more than thousands of active members per day, and many traders share their experiences with broker reviews.
Tickmill at Forexpeacearmy has received reviews from 232 traders with a score of 3,462 which means it is a broker with an average reputation.
The traders’ reviews that were shared varied. Some traders faced problems with withdrawing via credit cards. Because he did not receive funds for more than 15 days. Another trader complain about poor support for complaints that do not get resolved immediately.
Some suspect Tickmill of price manipulation which causes traders’ losses. For a full review of Tickmill on ForexPeaceArmy visit the site.
Tickmill broker review TrustPilot
On TrustPilot we found reviews for Tickmill UK and Tickmill global with a reputation of 3.7 on each of these companies.
First, we reviewed Tickmill with the Tickmill.com site. Here this broker gets reviews from 327 reviewers. With an average score of 3.7 with voting ratings Excellent 69%, Great 11%, Average $%, Poor 1%, and Bad 15%.
Of all these reviewers maybe not all of them are experienced traders with Tickmill. Because some are suspected of giving bad reviews to offer certain sites which may be just scams.
While Tickmill UK received reviews from 68 users with the same score of 3.7 with excellent reviews 60%, Great 19%, Average and Poor 3%, bad votes 15%.
Tickmill broker review WikiFX
WikiFX is a popular source of trader reviews. But we don’t know for sure if this site practices honestly. As there have been reports of site owners taking bribes to give good or bad reviews.
However, from the information obtained, WikiFX received a total of 21 scam warning reports on Tickmill. With most cases being unable to withdraw funds and bad contact support. Visit WikiFX to read all reviews.
Pros and cons
Tickmill is a well-developed broker, however, they each have their advantages and disadvantages.
- The first is that this broker is regulated in several jurisdictions.
- Variation of trading opportunities with the type of forex market, indices, bonds to cryptocurrencies.
- Competitive spreads include broker low spreads.
- Popular and user-friendly Metatrader platform.
- Not all traders are satisfied with Tickmill, some users face problem withdrawals and slow responses from support contacts.
Tickmill is a forex broker that is quite popular among forex traders, advertisements about this company are scattered everywhere. If you are looking for a broker with a minimum deposit of $100, Tickmill might be the one for you.
If you are looking for a broker with a minimum deposit of $100, Tickmill might be the one for you.
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