A Reliable Trading Platform for Crypto Traders
Tickmill Review
Tickmill is one of the best in the world at what it does, and it has done well in every central area. It is a reliable broker that offers many contracts for difference (CFDs), futures contracts, and expected outputs. Tickmill has a lot of tools for learning and studying, and it also works with a number of other programs. Also, the broker offers many different trading accounts to meet the needs of individual investors.
Tickmill was started in 2014 and is licensed by reputable forex industry regulators. It offers premium services and products to the world’s most discerning individual and institutional investors. The broker maintains branches in the United Kingdom, Cyprus, Malaysia, Seychelles, and South Africa, in addition to its main office in Seychelles. To top it all off, this broker has won more than 15 honors, making it a true standout in the business. Spreads start at 0 pips, super execution takes an average of 0.20 seconds, and Tickmill has top-notch customer service in more than 15 languages.
Trading Platform
MetaTrader 4 is a desktop trading platform that Tickmill supports. The mobile trading app is the same as the web trading app. This includes how it looks, the languages it helps, the order types it offers, how it can be searched, and the reports it can make, such as summaries of your portfolio and fees.
The most crucial difference is that the desktop trading interface lets you change how alerts and warnings are sent to your phone and email. You’ll need to supply your email address and mobile MetaQuotes ID (found in the MT4 app’s configuration) to enable email and mobile notifications. Select “Tools,” followed by “Options,” to add them.
Tickmill provides its clients with a Multiple Trading Toolkit to improve upon and supplement the functionality of the Mt4 desktop platform.
Mobile App
The trading app’s primary function is to provide traders with convenient, on-the-go access to the account. Traders can use the application to keep tabs on the market and modify any open positions in jeopardy due to current events.
The MT5 mobile app has few uses beyond what it is designed for. Due to the limited scope of its charts, analyzing market mood takes a lot of work. Because there is only so much room, adding new indicators often makes it harder to do in-depth technical studies. However, the app’s simplistic design makes it effortless to use.
Charts
The following is an explanation of the most critical aspects of the charts included in the mobile app:
Indicators of trading activity
The mobile app has only 30 trading indicators, compared to the desktop version’s 38 available ones.
Drawing tools
It also has 21 drawing tools, one less than the 24 on the desktop version. Regarding the available periods, the two perspectives diverge the most from one another. There are just 8 of them available on the mobile app. There are three different sorts of charts accessible.
Funds Protection
Client funds are kept in a separate account, and negative balances are protected across all Tickmill Group companies. Tickmill is a professional company, but it is doubtful it to go bankrupt. Traders need to be reassured if it doesn’t have a compensation plan like the others.
When deciding which of Tickmill’s five organizations to use, traders should consider how much trading activity they want. If you trade CFDs on Tickmill’s international businesses, you can get maximum leverage of 1:500. However, only advanced traders should consider this.
Deposit and Withdrawal
Tickmill is compatible with bank wires, credit cards, debit cards, Skrill, Fasapay, UnionPay, Neteller, Sticpay, QIWI, and WebMoney, among other payment systems. The minimum amount you can deposit and the minimum funds you can withdraw are $100 & $25, respectively. There is a range of processing periods available, from quick to seven business days. This broker does not charge its clients for most fees; however, third parties typically do. Tickmill will pay up to $100 of the fees associated with wire deposits greater than $5,000. Specific traders do not have access to all available alternatives, and withdrawal will be refunded through the same method used to make the deposit.
Commission
The Pro account’s commission rate is a flat two currency units on each side per traded lot. Opening a trade for 100,000 units of the underpinning will cost you $2 if your account’s currency pair is USD. The fee to close the same account later is $2 as well. In other words, the round-turn commission for each transacted lot is four units for the Pro account type. To put it another way, this rate is below the market standard.
Fees
Tickmill performed admirably in the Fees category. Compared to the market as a whole, the spread and swap that the broker provides are on the small to medium side. It also has relatively cheap commission rates. In addition, traders with Islamic accounts on Tickmill have access to swap-free trading. Because there are no high costs for non-trading activities, Tickmill’s service is very reasonably priced.
Non-trading Fee
Inactive brokerage accounts are not subject to the broker’s usual maintenance charge. In addition, there are no fees associated with making deposits or withdrawals. Both of these aspects contribute to Tickmill’s service becoming more reasonably priced.
Account Types
Tickmill provides its customers with three distinct account options: The Classic accounts, the Pro accounts, and the VIP accounts. The last option is reserved for individuals willing to make significant financial investments. Each of the accounts is designed to meet the needs of both novice and experienced traders. There is also the option of an Islamic account that doesn’t charge swap fees. This helpful feature lets even more traders use the company’s services.
CLASSIC
- Minimum deposits: $100
- Minimum balance: N/A
- Spread: 1.6-point increments
- Highest leverage: 1:500
- Commissions: There are no commissions to speak about.
PRO
- Minimum deposits: $100
- Spread ; 0 pips
- Minimum balance: N/A
- Highest leverage: 1:500
- Commissions are 2% on either party for every 100,000 contracts transacted in VIP.
VIP
- Minimum deposit: N/A
- Maximum balance: $50000
- Spreads ; 0 Pips
- Highest leverage: 1:500
- Commissions: $1 per side for every 100,000 contracts transacted
License and Regulations
Most of Tickmill’s clients view the company’s possession of a regulatory license issued by a Tier 1 regulator as a factor contributing to their sense of trust in the company. The Financial Services Authority (FSA) of Seychelles, the Cyprus Securities and Exchange Commission (CySEC), the Labuan Financial Services Authority, the Financial Sector Conduct Authority of South Africa, and the Financial Conduct Authority (FCA) of the United Kingdom are the regulatory bodies that oversee the broker.
Tickmill Pros and Cons
Pros
- Customer service is fast, available in multiple languages, and available around the clock.
- There is a good variety of payment choices.
- Deposits are protected, and withdrawals are processed quickly.
- Bonus for opening an account
- The spread is low, yet the leverage is high.
Cons
- Only a limited number of market options are open for trading at any given time.
- The cost of Tickmill’s Classic accounts differs from its rivals’ offerings at the same level.
Customer Support
According to the Tickmill broker evaluation and analysis, the support team offers free customer care. Website customer assistance is open 24/7. Tickmill offers phone, email, and support via live chat. Contact +852 5808 2921 or support@tickmill.com for a 24-hour answer. Live chat is available for urgent concerns. FAQ is ideal for details. The platform’s FAQ section provides information about investing, capital, and free banking.
Final Words
With decades of collective experience in a variety of markets, the Tickmill team knows what it takes to make a successful deal. Success for the client is priority number one. By bringing together cutting-edge technology, tight spreads, lightning-fast trade execution, and attentive support staff, the broker provides investors and traders with a unique opportunity to learn about themselves.
The research has shown that Tickmill is a solid option for anyone looking to trade foreign currencies. Before signing up for Tickmill, it’s a good idea to weigh the service’s advantages and disadvantages.