Tickmill: The Complete Broker Review and Tips

In the vibrant and competitive arena of forex trading, Tickmill stands out as a prominent brokerage firm. Known for its sophisticated trading infrastructure and dedication to client satisfaction, it has established itself as a key player in the online trading industry.

This forex trading broker review aims to provide a comprehensive overview of Tickmill’s capabilities, offering insights that are valuable to both new and experienced traders. 

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Tickmill: Overview 

Tickmill broker, an integral part of the Tickmill Group, distinguishes itself through premium trading products and services characterized by transparency and innovative technology. Established in 2014 by experienced traders, Tickmill’s mission revolves around providing an optimal trading environment for both retail and institutional clients globally. 

This firm offers a diverse range of trading products, providing access to over 180 instruments, coupled with competitive conditions like ultra-low spreads. Additionally, it prioritizes client fund safety and caters to various trading strategies, supported by cutting-edge technology and a dedicated, multilingual support team.

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Regulation and Registration 

Tickmill broker operates under strict regulatory oversight from multiple jurisdictions. Tickmill UK Ltd is regulated by the UK’s Financial Conduct Authority (FCA) and the Dubai Financial Services Authority (DFSA). 

Additionally, Tickmill operates globally under various regulated entities, including Tickmill Ltd Seychelles, Tickmill Europe, Tickmill Asia, and Tickmill South Africa. This global regulatory framework ensures Tickmill’s commitment to financial integrity and client protection.

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Account Types of Tickmill

 1. Pro Account

• Minimum Deposit: 100 USD
• Spreads: Raw spreads starting from 0.0 pips
• Commission: Low
• Trading Instruments: Forex, stock indices, commodities, bonds, cryptocurrencies, stocks

2. Classic Account

• Minimum Deposit: 100 USD
• Spreads: Starting from 1.6 pips
• Commission: Zero
• Trading Instruments: Forex, stock indices, commodities, bonds, cryptocurrencies, stocks

3. VIP Account

• Minimum Balance*: 50,000 USD
• Spreads: Ultra-low spreads from 0.0 pips
• Commission: Low
• Trading Instruments: Forex, stock indices, commodities, bonds, cryptocurrencies, stocks

*The minimum balance requirement should always be fulfilled to maintain VIP account status. Tickmill may change the account status if minimum balance requirements are not met, or abuse is detected.

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Deposit and Withdrawal

Tickmill facilitates a variety of deposit methods, including bank transfers, crypto payments, and Visa/Mastercard, prioritizing flexibility and convenience. While bank transfers and crypto payments are processed within one working day, card transactions are typically instant. 

When it comes to withdrawals, they are processed in the base currency of the client’s wallet, usually within one working day, across all methods. Additionally, available withdrawal options may vary depending on the client’s country of residence.

It’s important to note that the payments are processed only in EUR, GBP, ZAR, and USD. Payments made in other currencies will be automatically converted, potentially incurring a conversion fee from the bank or eWallet.

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Products in Tickmill 

• Forex
• Stock Indices
• Commodities
• Bonds
• Cryptocurrencies
• Stocks

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Trading Platform of Tickmill

• MetaTrader 4
• MetaTrader 5
• Tickmill Mobile App

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Fees of Tickmill

Tickmill’s fee structure includes variable spreads across all account types, with the Classic account offering spreads from 1.6 pips and no commissions, while the Pro and VIP accounts feature spreads from 0.0 pips with low commissions. Commissions are charged only on CFDs on forex and precious metals, with rates varying by account type.

Swap charges or rollover fees apply for overnight positions, calculated based on interest rate differentials, market conditions, and position type, with triple rates on Wednesday nights. Notably, Tickmill does not impose inactivity fees, enhancing its appeal for traders with varying activity levels.

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Tickmill Promotions

Tickmill offers two enticing promotions for its clients: the “$30 Welcome Account” and the “Trader of the Month” contest.

• $30 Welcome Account: New clients receive a $30 complimentary deposit for risk-free trading, with the potential to withdraw profits under certain conditions.
• Trader of the Month: Each month, one outstanding trader from Tickmill Ltd live account holders wins a $1,000 prize, based on trading performance.

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Customer Support

• Email: [email protected] (response within 24 hours on business days)
• Live Chat: Available 24/7

Tickmill broker provides customer support through various regional offices, ensuring localized assistance for its clients:

Seychelles

• Phone: +852 5808 7849 (Client Support)
• Phone: +248 434 7072 (Office)
• Client Support Hours: Mon-Fri 7:00 – 16:00 GMT during Daylight Saving Time​​

Malaysia

• Email: [email protected] (response within 24 hours on business days)
• Phone: +60 87 504 565 (Office)
• Phone: +60 16 299 9449 (Client Support)
• Client Support Hours: Mon-Fri 8:00 – 17:00 MST​​

South Africa

• Email: [email protected] (response within 24 hours on business days)
• Phone: +852 5808 7849 (Client Support)
• Phone: +27 (0) 21 140 3500 (Office Cape Town)
• Phone: +27 (0) 10 141 0010 (Office Johannesburg)
• Client Support Hours: Mon-Fri 9:00 – 18:00 SAST (GMT+2)​​

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Pros & Cons

Pros Explained

• With over 180 trading instruments, including forex and stock indices, it offers a diverse range of trading products.
• Competitive trading conditions are provided with ultra-low spreads and low commissions.
• Strong regulatory compliance is ensured through regulation by multiple authorities, including the FCA and DFSA.
• Multiple account types, such as Classic, Pro, and VIP, cater to various trading needs.
• Promotions like the “$30 Welcome Account” and “Trader of the Month” contests offer added incentives.

Cons Explained

• Limited currency processing restricts payments to EUR, GBP, ZAR, and USD only.
• Automatic conversion of other currencies may result in potential fees.
• Regional restrictions limit some deposit and withdrawal options based on the user’s region.
• The VIP account requires a high minimum balance of $50,000.
• EU citizens are not eligible for the “$30 Welcome Account” promotion, which is a limitation for this group of clients.

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Is Tickmill Worth Considering?

Tickmill’s strengths lie in its diverse range of trading products, access to over 180 instruments, competitive trading conditions with ultra-low spreads, and a variety of account types. These features, combined with strong regulatory compliance across multiple jurisdictions and a focus on client fund safety, make Tickmill a compelling choice for traders globally. 

While considering Tickmill, traders should weigh these advantages against any potential limitations, such as currency processing restrictions or regional variances in deposit and withdrawal methods. 

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FAQs

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