Among the reputable forex brokers operating in the UK today, Tickmill is the one that causes the most surprises and surprises. Because in terms of years of operation, Tickmill is a very young broker, having only launched in 2015. However, what Tickmill has built in just 5 years, may make many exchanges Other forex must be jealous. So is Tickmill a scam? Is Tickmill worth trading? If you are interested in this exchange, please join Learn Forex Trading to learn about Tickmill broker review through the following article.
Introducing the Tickmill trading platform
Before going into the Tickmill broker review, we need to know basic information about the exchange. Tickmill was founded in 2015, emerging as a young trading platform and gradually building its name in the foreign exchange market.
Currently, Tickmill has its headquarters in Seychelles and a headquarters in the UK. Tickmill was initially founded after Armada Markets decided to move its retail customers over to them in 2015.
Then, to expand its scope of operations, Tickmill added a new sub-brand in the UK with the trade name TMILL UK Ltd. Let’s self-study forex and continue Tickmill review through the content below.
See more: Latest instructions for Tickmill open account
Certificate of operation and insurance for Tickmill customers
An operating certificate is also a very necessary thing to base a Tickmill broker review on. Having so many customers put their trust in a young broker like Tickmill is not simple. To have that, Tickmill must always prove that they are a professional, reputable broker and put customers’ interests first.
In addition to service quality, the first factor that customers need in a broker is the operating certificates and policies they have for their customers.
Let’s see what Tickmill has to offer.
Tickmill operating certificate
Being managed by the most reliable financial management organizations in the world is always the top factor in assessing the reputation of an exchange, Tickmill has that.
CurrentlyTickmill operates with regulated licenses from Seychelles and the UK. In there:
Seychelles Financial Authority (FSA)
The Tickmill Ltd brand is regulated byFSAin Seychelles, as a Securities Dealer of the Financial Services Authority of Seychelles with license number SD 008.
FCA Financial Conduct Authority (FCA)
In the UK, Tickmill operates under the brand name Tmill UK Limited which is authorized and regulated by the Financial Conduct Authority (FCA) with license no.717270.
FCA of the UK is one of the most reputable financial watchdogs worldwide. FCA-regulated brokers must keep client funds in segregated accounts ( Segregated Account mechanism ), separate from the company’s operating funds.
Other financial certificates
In addition, the Vipro Markets brokerage operates in Cyprus with a license from CYSEC and joined Tickmill in 2017. Bring more to Tickmill500,000 customers per month.
In Europe, the Tickmill brand operates as Tickmill Europe Ltd and is licensed by various European regulatory authorities as follows:
- German Federal Financial Supervisory Authority – BaFin (Registration number: 146511)
- France Prudential Control and Resolution Authority – ACPR (Registration number: 75473)
- Italian Committee Nazionale per le Società e la Borsa – CONSOB (Registration number: 4310)
- Comisión Nacional de Mercado de Valores of Spain – CNVM (Registration number: 4082)
- MiFID II complies with the Investment Services and Regulated Markets Law 2017 (Law No: 87/2017).
With a list of managers across Europe, clear in terms of legal procedures, Tickmill has proven its professionalism and seriousness. Showing that they are worthy of being one of the reputable trading exchanges and worthy of trust from many traders.
Tickmill’s customer insurance policy
Financial Services Compensation Scheme (FSCS)
Tickmill UK Ltd is a member of the Financial Services Compensation Scheme.
FSCS is an independent compensation fund, which is the ultimate protection for customers of authorized UK financial services firms, established under the Financial Services and Markets Act 2000.
FSCS will be responsible for compensating Tickmill customers in the event of the broker’s insolvency.
Investor Compensation Fund (ICF)
Tickmill Europe Ltd is a member of the Investor Compensation Fund (ICF). ICF has been established as an investor compensation fund for CIF clients and its functions are governed by CySEC directive 144-2007-15.
ICF Foundation guarantees Tickmill customers to be compensated if any claims arise if Tickmill fails to fulfill its obligations.
Tickmill’s insurance policy
Being regulated by financial agencies such as FSA, FCA, and CySEC means that Tickmill must ensure compliance with insurance regulations for its customers.
Tickmill guarantees responsibility towards customers and third parties with a civil liability insurance program that includes coverage against errors, fraud, and many other risks leading to loss.
Segregated accounts mechanism (Separate accounts)
The Segregated Accounts mechanism ensures the safety of customer accounts. Tickmill will not be allowed to use customer accounts for any activities, and it is also evidence of customer compensation according to regulations. in case Tickmill becomes insolvent.
Customer money is transferred completely to bank accounts, separate from accounts used by the company.
Protect your Account from negative balances
Tickmill is one of the brokers that has a policy of protecting customer accounts from negative balances, meaning that “even in highly volatile market conditions where margin and stop loss no longer function correctly, customers Tickmill also does not incur any losses for negative balance settlement.
The Forex market is a place that always contains unexpected risks that investors cannot predict, so…TickmillUsing a negative balance protection policy for customers is extremely great and a plus point in the eyes of traders around the world.
Types of Tickmill trading accounts
Currently, Tickmill offers customers 3 main account types: Classic, Pro, and VIP.
Classic account
Classic account suitable for new investors. The minimum deposit is 100, this is the average sending rate. There are no commissions but spreads start from 1.6 pips on EURUSD, which is quite high compared to other brokers.
- Minimum deposit: $100
- Spread: Starts from 1.6 pips
- Commission: No
- Maximum leverage: Up to 1:500
- Tools: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1 seconds
Pro Account
This account is highly appreciated by many traders in the UK and is also the most popular of the three account types on the exchangeTickmill.
Pro Account is an ECN account with very good spreads, from only 0.0 pip for the EUR/USD pair
- Minimum deposit: $100
- Spread: Starts from 0.0 pips
- Commission: 0.004%
- Maximum leverage: Up to 1:500
- Tools: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1 seconds
A little more specifically about the Commission of Tickmill exchange. Unlike other brokers, Tickmill offers flexible commission fees for each currency pair, instead of being fixed.
On its homepage, Tickmill says that the pro account commission is 2 units per side (opening order and closing order) per lot. This means you will have to pay 4 units (currency) per lot, which is equivalent to 0.004%.
For example: If you trade 1 lot of EURUSD, you will have to pay 2 EUR for each side (opening the order and closing the order), that is 4 EUR for 1 lot of EURUSD trading on Tickmill.
Tips: With low commission rates, PRO accounts are more ideal for most traders than Classic and VIP accounts, as spreads are reasonable, capital requirements are low and up to 80 products are offered, including 62 currency pairs.
VIP account
For professional traders with large capital who want to maximize the best services. Tickmillgive them a VIP account. The advantage of this type of account is that the transaction fees are very low. However, the minimum deposit is $50,000.
- Minimum deposit: $50,000
- Spread: Starts from 0.0 pips
- Commission: 0.002%
- Maximum leverage: Up to 1:500
- Tools: 62 Forex pairs, 15 stock indices, oil, precious metals and bonds
- Currency: USD, EUR, GBP, PLN
- Average execution speed: 0.1 seconds
Besides, Tickmill Also offers personal multi-account management with MAM a program. Managers can simply manage accounts on behalf of their clients.
Overview table of parameters for Tickmill account types
Below is the parameter table of the 3 account types I just mentioned above so you can have an overview and a clearer assessment of the differences between the account types that the exchange offers. Tickmillprovide:
Tickmill trading platform
The trading platform is one of these weaknesses belongs toTickmill because currently Tickmill only provides trading platformsTo be MetaTrader 4andWeb Trader.
Although for most traders this is more than enough. An MT4 software for trading on personal computers and a Web Trader for live trading in case you do not want to download the software or are not using your computer.
MetaTrader 4 (MT4)
MT4 has been the most popular Forex trading platform in the world since 2005 and is favored by traders. Because of its user-friendliness and ability to meet all the needs of a trader such as indicators, Expert Advisor (EA) or advanced charting packages.
Some advantages to MetaTrader 4 include:
- Tools enable real-time technical analysis.
- Supports analysis of multiple time frames.
- Instant order matching and market order matching.
- Diverse types of orders; allow you to choose any trading strategy.
- Ability to create and test your indicators and strategies thanks to the MQL4 language.
Tips: Currently, TickMill exchange has cooperated with MyFXBook to provide customers with enhanced automated trading options through the platform AutoTrade.
Note that the Autotrade feature on Myfxbook is only accessible to Tickmill clients registered from Seychelles. As for customers in the EU, there will be certain restrictions.
This means that UK traders like us can freely use this feature.
Web Trader Platform
Web Traderbelong toTickmillallows you to use similar software MT4 on the computer. But now you can use it right on your web platform.
Benefits of using the MT4 web trading platform
- Quickly and easily access financial markets from any computer
- The interface is similar to the MT4 platform
- Features one-click trading
- Completely secure – any information transmitted is encrypted
Main features
- Real-time quotes on Market Watch
- Customizable price charts
- Supports 9 timeframe charts
- There are basic tools used for analysis: horizontal, vertical, and trend lines, price channels, and Fibonacci lines
Products are traded on the Tickmill exchange
Tickmill is a new trading platform, so Tickmill’s products are not too diverse. If compared with other brokers, Tickmill is highly rated.
- Forex: Tickmill offers 62 currency pairs including majors, minors, and exotics.
- Stock index: Tickmill offers 15 major international stock and oil indices: no commissions, no requotes, and no price manipulation.
- Precious metal: Currently Tickmill allows trading Gold and Silver with USD.
- Bonds: Tickmill allows users to trade bonds, however currently only German government bonds are traded.
Tickmill has also launched Bitcoin trading with the US Dollar in the form of CFD, through the BTC/USD pair. But it is only traded during regular trading sessions. That means from Monday to Friday and cannot be traded on weekends like basic cryptocurrency markets.
Tickmill customer care and support service
Tickmill supports multiple languages including English, Spanish, Russian, Chinese, Indonesian, and UK…
Besides, I also appreciate the trading platform Tickmill. Because they offer over three languages email and phone support.
However, in several customer support calls we tested. According to assessments, Tickmill’s support team is not professional when answering each question we ask.
See more: Instructions Tickmill sign up on your phone
Deposit and withdrawal methods of Tickmill
For Tickmill broker review, investors can also go through the transaction. Specifically, an assessment of deposit and withdrawal methods and payment speed.
Recharge
Tickmilloffers 6 different deposit ports to its customers. Including all the most popular forms such as Credit, Debit Card, Neteller, Skrill, and especially the payment gateway Money.
Process your deposits instantly, 24/7, and without any fees.
Withdraw money
As XM exchange good ICMarkets, I encourage you to use payment gateways Money. Because you will only have to pay the lowest cost compared to other forms of payment. It’s amazingTickmill also provides this payment gateway.
Normally it is only about 0.5% for the exchange rate difference between deposit and withdrawal (calculated according to UK bank exchange rates).
Tickmillstating that your withdrawal via any method will be done within 24 hours, completely free of charge.
And in fact throughout the trading process on the exchangeTickmill. I have also never had any problems with deposits and withdrawals.
Conclusion about Tickmill
Above is the Tickmill broker review article. Although Tickmill is a young brokerage, it still has its efforts. They have enjoyed a remarkable growth rate and are chosen by traders around the world.
Just a few years ago, almost no one knew the name Tickmill. Especially inUK market, by now Tickmill has become a quite familiar name in the community of Trader UK.
Owning a certificate and being managed by trusted management organizations in the world. I believe that Tickmill is also a worthy choice for you.
If you have any questions, don’t hesitate to comment right below this article. Learn Forex Trading is always willing to listen and answer your questions.
