In this opportunity, we present the respective review of the Tickmill Broker on this website. This company offers services for trading in the Forex market, also allowing investments with Contract for Difference CFDs and provides opportunities for trading in precious metals such as gold and silver.
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Is Tickmill Regulated?
Tickmill is a duly regulated broker, so you can have full confidence that it is not a fraud. It is regulated by three competent international bodies:
- Tickmill UK Ltd is authorized and regulated by the UK Financial Conduct Authority (FCA) with reference number 717270.
- Tickmill Ltd is regulated as a securities dealer by the Financial Services Authority of Seychelles with license number SD 008.
- Tickmill Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission as a limited CIF company with license number 278/15.
As I mentioned, Tickmill is a duly regulated broker that, until mid-March 2019, limited its clientele to traders from certain countries. However, this has changed, and now it accepts more than 100 countries, including all countries in the Americas except the United States and Canada. Given that Tickmill has expanded the countries where it offers its services, I can now recommend it without any issues. Previously, I had to suggest alternatives because it did not accept clients from many countries.
What Trading Instruments Does Tickmill Offer to its Clients?
For trading in the Forex market, there are 62 currency pairs available, including all major pairs and some exotics, such as USD/ZAR and USD/SGD. I can’t deny that the number of currency pairs offered by Tickmill is quite good, but HF Markets also provides strong competition.
Regarding trading in precious metals, you have the option of gold and silver. Both of these are the two most popular precious metals and are the most traded by traders. As for Contract for Difference CFDs, there are 15 stock indices available, four of the most important European bonds, and the BTC/USD pair.
What Types of Accounts Does Tickmill Broker Offer?
Currently, this broker offers five types of accounts, including demo and Islamic accounts. Excluding these two, we will focus on the remaining three:
This is the most basic account at the broker, with a minimum deposit of $100 or the equivalent in other accepted currencies, which, in addition to the US dollar, include the EUR, GBP, and PLN. The available trading instruments include Forex, CFDs, and precious metals. The execution type for this account is market, with a maximum leverage of 1:500 and 1:30 for residents of European Union countries. The minimum trade size is 0.01 lots. This account does not charge commissions for standard lots executed in the market and has variable spreads starting at 1.6 pips.
This account has the same characteristics as the Classic account, including the minimum deposit. The only difference is that the Pro account charges commissions, specifically $2 per standard lot executed in the market, and it has variable spreads starting at 0.0 pips.
This is the highest prestige account on the platform. Similar to the Pro account in terms of features, it differs in terms of the minimum deposit, which is $50,000 or the equivalent in other base currencies accepted by the Tickmill Broker. Regarding commissions for standard lots, this account charges $1 for each lot traded in the market, and the spreads remain variable, starting at 0.0 pips.
What Trading Platforms Does the Tickmill Broker Offer for Market Trading?
This broker offers two platforms, technically one platform, which is MetaTrader 4. The first is the downloadable desktop version of MT4, while the other is also MT4 but in a 100% online version that does not require any download to use.
Like any other broker, these platforms are very comprehensive, which is precisely why the Tickmill Broker offers MetaTrader 4. They know that most investors use it for market trading.
Regarding mobile trading platforms, there are two available, catering to the needs of all types of investors. These platforms are:
- Metatrader 4 for Android.
- Metatrader 4 for iPhone/iPAD.
Well, if you’ve read the post up to this point, you should already know that the Tickmill Broker is very safe for Forex trading. However, it does not accept a wide variety of countries from which users can create an account for trading through its platform. In view of this, from my personal opinion, despite its high security, I do not recommend it much.
As an alternative to this broker, I recommend once again HF Markets, as it accepts clients from many more countries than Tickmill. Furthermore, HF Markets is suitable for any trader without any issues. I hope you liked this post, and remember that you can quickly and easily create an account with HF Markets here.