Tickmill is a trading name of Tickmill Ltd, a member of Tickmill Group, which is authorised and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. A multi-regulated Forex and CFD provider offering first-class products and services with industry-leading trading conditions.
Tickmill’s is also regulated by FSA (Seychelles), CySEC (Cyprus), Labuan FSA (Malaysia), FSCA (South Africa). The company aims to provide an exceptional trading environment to retail and industrial clients – offering over 80 instruments with spreads as low as 0.0 pips, low commissions in the market, and fast execution times i.e. 0.15s average and no re-quotes.
Let’s do a complete Tickmill review on the basis of all key factors.
Leverage
Leverage enables traders to unlock big positions and earn large profits, but at the same time, there is also higher risk and larger losses. This means that for every $1,000 in your account, you can trade up to $100,000 in value. Leverage is commonly as high as 1:100 in forex markets. With Tickmill, you have minimum leverage of 1:1 and maximum leverage of 1:500.
Demo Account
Tickmill offers a demo account for users to practice trading before they start it for real. The demo account comes free of cost and stays active until there is no login activity for seven consecutive days.
Classic Account
The best describes Tickmail’s Classic Account is the entry-level account that is suitable for both beginners and pro traders. The classic account exhibits optimal trading conditions, lightfast order execution.
You can trade CFDs on 62 currency pairs, major stock indices, oil, precious metals, bonds and cryptocurrencies, with variable spreads starting from 1.6 pips with no commission and maximum leverage of 1:500. A minimum $100 deposit is required.
Pro Account
Call it an entry-level account for professional traders. The account requires a minimum $100 deposit. You can trade CFDs on 62 currency pairs, major stock indices, oil, precious metals, bonds and Cryptocurrencies with fluctuating spreads starting from 0.0 pips.
According to the Tickmail website, “You will pay a commission of only 2 currency units per side per lot (0.0020% notional) on your Pro account in the base currency of the trading instrument”.
VIP Account
Especially for high-volume professional traders. VIP Account requires a minimum deposit of $50,000. You can trade CFDs on 62 currency pairs, major stock indices, oil, precious metals, bonds and Cryptocurrencies on your VIP account with spreads starting from 0.0 pips.
Speaking of the commission, the Tickmill website says, “You will pay a commission of only 1 currency unit per side per lot (0.0010% notional) on your VIP account in the base currency of the trading instrument”.
Islamic Account
Tickmill describes its Forex Islamic Account as a swap-free account it exhibits no swap or rollover interest on overnight positions since it is against the Islamic faith. Thus, Muslim traders enjoy the benefits of all Classic, Pro and VIP accounts by converting them into Islamic accounts.
Islamic account works the same way as any other trading account type but doesn’t involve swaps on trading instruments. However, there are handling charges that apply to holding various trading instruments for over three consecutive nights.
To sum up
This article is intended for knowledge purposes only. Tickmill website shows a warning message that says “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money”.
You are advised to keep a tab on the Tickmill website to stay updated about their conditions, forex account types and seek advisory whenever required.
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