Tickmill is a Metatrader broker, a member of the Tickmill Group is a regulated platform by the Seychelles Financial Services Authority, as Tickmill reviews show. The broker has put itself in a strong position as a trusted market leader as the Tickmill broker review show. But, do all traders think Tickmill is a decent broker? Let’s find out in our Tickmill reviews and analysis.
The brokerage was built by traders that already had some trading experience from back in the day when they traded on financial markets across the world. The goal now according to the Tickmill review is to provide institutional clients as well as retail clients with a trading platform that will help them reach their full potential.
Tickmill is a MetaTrader broker that offers a small selection of tradeable securities and offers high commission-based pricing via its VIP And PRO accounts.
Tickmill is regulated in one tier-1 jurisdiction and two tier-2 jurisdictions. The platform offers a wide suite of Metatrader features and various add-ons. The pricing for the accounts is highly competitive and It also offers the CQG platform for options and futures trading.
There are only a few markets available for trading. The pricing for the classic accounts is not competitive.
The platform is considered an average risk and it is not publicly traded.
Tickmill offers 85 tradeable assets such as CFDs on currency pairs, metals, indices, crypto, and bonds. There are 62 symbols available for futures and options trading via a separate account.
Also, crypto trading at Tickmill is available via CFDs but not via trading of an underlying asset like BTC. Crypto CFDs are also not available to retail traders in the UK.
Commissions and fees
CFDS come with high risks of losing money due to leverage. Up to 76% of the retail CFD accounts lose money according to Tickmill bonus review. Always make sure you understand how CFDs work and know to invest only the amounts you can lose.
Tickmill offers three accounts: Classic, Pro, and VIP.
-Classic: the classic account is commission free but traders only pay the bid or ask spread. However, the average spreads for this account are higher than the other two account types.
PRO account: this account type alongside the VIP account has a per-trade commission which is added to lower spreads. The low commission rate and low-cost spreads, make this account ideal for traders.
Traders that choose the VIP Account will have to maintain a balance of $50,000 and will have access to the low commission of $1 per standard lot. The Pro account can be accessed with only a $100 deposit but will have twice as high a commission per standard lot.
Deposit and withdrawals
Depositing and withdrawing money from Tickmill is simple as the Tickmill broker review shows. The broker accepts most forms of payments that include bank transfer credit and debit cards, crypto wallets, and e-wallets. The company doesn’t impose fees for making deposits and withdrawals while its processing system is fast.
The payouts are also processed fast so they are set to review their minimum withdrawal amount right in their wallets or bank accounts. TickMill processes payment instantly but it does take 24 hours for the bank to clear the transaction. Also, the broker sends a payment confirmation message to the users’ phones or emails after the payout is cleared according to the Tickmill withdrawal review.
The clients do have to deposit $100 to open an account. It accepts deposits in USD, EUR, GBP, and PLN. It accepts cryptos like LTC, ETH, and BTC. The broker also allows the deposit of funds in ten payment system modes like credit cards, bank transfer, Skrill, Neteller, UnionPay, FASAPAY, QIWI, WEB MONEY, STICPAY, and more. There are no deposit fees to be paid.
Since there are no fees to be paid to the broker, the user has to initiate a request and wait for a day to receive the minimum withdrawal amount in their account. The minimum amount for withdrawal is set at $10 but the users might have to submit ID proof for KYC verification processes if the amount is too high.
TickMill Trading Platforms
Tickmill is a MetaTrader-only broker and there are both Android and iOS versions of the MT4 and MT5 available for download. The platform also launched a mobile app for account management purposes as well. It even launched the Mt5 from the UK and the EU while adding TradingView as a new feature.
Tickmill included the CQG platform for futures and options trading. The Trdaingview feature on the other hand is very popular among traders according to Tickmill reviews due to the powerful charting and visualizations.
Other notable add-ons are available as well like the Advanced Trading toolkit and the VPS hosting.
Tickmill Fees And Accounts
Traders don’t have to pay a commission fee for trading with this account on the broker’s website. The trader does however need to pay the spread cost between the asking price and the bid price for trading the products. The average spread price is higher for the Classic account and it is often not preferred by beginners.
According to the Tickmill review, the PRO accounts offer users a spread of 0.13 pips for the EUR/USD pairs. The trading costs stand at 0.53 pips with the RT commission of 0.4 pips taken into consideration. Also, online brokerage platforms usually record the spread statistics under market conditions especially when the spreads are narrow.
Tickmill offers traders a few discount options. The discounts start at the rate of $0.25 for a standard trade, up to a thousand micro-lots every month. At the third level, the discount package is $0.75 for traders that trade more than 3000 standard lots each month.
- Is Tickmill regulated?
Tickmill is regulated by the Seychelles Financial Services authority while its trading name under Tickmill UK LTC is authorized by the Financial Conduct Authority of the UK. Tickmill Europe LTD is also regulated by the Cyprus Securities and Exchange Commission.
2. Are there any fees for withdrawals in crypto?
this broker doesn’t charge fees for traders to and from its wallets for crypto deposits and withdrawals but the fees are likely applied by the crypto providers.
3. Are my funds safe?
Since Tickmill is regulated three-way, the funds are generally safe. the platform’s internal systems are compliant with regulators.
Tickmill is a Metatrader broker, a member of the Tickmill Group which is a regulated platform by the Seychelles Financial Services Authority. The brokerage was built by traders that already had some trading experience from back in the day when they traded on financial markets across the world.
- Metatrader Features
- Offers CQG Options
- Very Few Markets Available
- Not publicly traded
- Not competitive pricing
Platform is considered average-risk
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