Tickmill

There are different regulatory bodies that observe the business conduct of this broker, which makes Tickmill a secure and safe broker. These authorities set the financial guidelines for transactions in different locations around the world.

All traders look for licensed brokers to secure their capital from fraudulent activities and to trade confidently. When the broker is regulated by several authorities and jurisdictions it means that any attempt at illicit activity will put the broker in trouble. There are hefty penalties that can be imposed on regulated brokers, and in severe cases, the broker’s business license might be revoked.

Tickmill abides by several regulators on different continents, which enables the broker to offer their services to as many traders as possible, under the following local licenses:

• Financial Conduct Authority (FCA)
• Cyprus Securities and Exchange Commission (CySEC)
• Financial Sector Conduct Authority (FSCA)
• Seychelles Financial Services Authority (FSA)
• Labuan Financial Services Authority (Labuan FSA)

The broker also indicates the registry number of each license, and after checking on the proper authorities’ websites, we found that these are legitimate licenses that are valid and active under Tickmill LTD, which proves that Tickmill is a reliable broker.

Additionally, Tickmill follows the financial laws in Germany, Italy, Spain, and France, which means that the broker is responsible to provide financial services for these traders under local laws, and this promotes more trust in traders.

Policies

Tickmill incorporates different insurance tools such as negative balance protection and segregation of funds. Moreover, the broker is registered with several insurance schemes, which ensures the trader’s capital in case of insolvency. The following are in place:

• MiFID II
• Financial Services Compensation Scheme (FSCS)
• Investor Compensation Fund (ICF)

According to these compensation funds, if the broker is bankrupt the trader will receive part of or all their investments back depending on the local laws. For example, under the FSCS, if the broker goes broke, each investor gets their money back up to £85,000.

There is a huge number of financial securities that you can trade in almost every market, such as Forex, stock indices, commodities, bonds, and cryptocurrencies. CFD trading is offered in all these markets, which gives faster order execution, more trading options, and smaller fees than regular trading.The leverage varies between different securities. We discovered that the broker has 1:500 as the maximum leverage, but it can vary depending on your location and the local regulations.

You can go long or short with any market, using tight spreads that start from 0.1 on the currency pair EUR/USD. The broker clearly lists all the available financial instruments with their spread and further analysis, to make it easier for you to make money from the following securities.

Forex

Tickmill offers more than 60 currency pairs.

Even if you have never tried Forex trading before, this broker makes it easier for you to learn important terms and techniques simultaneously with trading. You can use leverage that ranges from 1:1 and can go all the way up to 1:500. However, in different locations, you might be bounded to smaller maximum leverage.

You can place orders on major, cross, and exotic currency pairs, using a spread that varies but can be as small as 0.1 for EUR/USD and AUD/USD pairs.

Indices

Tickmill offers more than 15 stock indices, so if you are interested in trading bundles of companies’ stocks, Tickmill offers you index trading at a fast execution speed of 0.20s.

The spread is variable and it starts from 0.39 for US500. However, different indices include different spread ranges, as you can find indices from the US, as well as the UK, EU, Germany, and African index markets.

If you prefer trading on margin, you can use borrowed money from your broker with a maximum leverage of 1:100, and in this case, you are required to keep a margin of 1%.

Commodities

Precious metals like gold and silver are considered safe-haven assets, and many traders invest in them as opposed to currencies. Tickmill offers trading in gold and silver with a minimum spread starting from 0.0 pips.

Tickmill also offers trading oil, which is the most commonly traded commodity around the world due to its importance. You can place buy or sell orders for Brent or WTI oil with low spreads starting from 0.04 pips.

The maximum leverage that you can use depends on the commodity. If you are trading gold or silver, you can use leverage of up to 1:1 because it is a heavily regulated asset. However, if you are trading oil futures, you can enjoy higher leverage limits of up to 1:500.

Bonds

Not every financial broker offers bond trading, as it operates differently than most conventional securities. However, it is an excellent option to diversify your trading portfolio, and a safer financial security as all the trading conditions are written and agreed upon beforehand.

Tickmill offers CFD trading on bonds, where you can trade on the price speculations of the most traded bonds such as Eurobonds, and German bonds. The average spread that you may see when trading bonds is 0.018 pips, which changes according to market conditions.

Trading on leverage is also allowed on these bonds, with a maximum leverage of 1:100. When you leverage your investment on bonds, you can buy more bonds and receive higher interest payments.

Cryptocurrencies

Many traders are getting involved in crypto trading, it is one of the fastest-growing financial markets due to the huge valuations put on most cryptocurrencies. Bitcoin is the first cryptocurrency introduced, and it has achieved a growth of more than 4,000% since its inception.Today, there are more than 10,000 cryptos in the world. However, not all of them are profitable and Tickmill offers you just 8 major cryptos that are traded commonly between all crypto traders. These cryptos are Bitcoin, Ethereum, Litecoin, Cardano, Ripple, Stellar, Chainlink, and EOS.Trading cryptos on Tickmill does not mean you will store these coins in your wallet, but you will be trading on the price changes using CFD trading. Spreads start from 0.002 and 0.003 for Stellar and Ripple respectively.

The maximum leverage that you can use while trading cryptos is lower than with other assets. The cryptocurrency market is more regulated in some locations, and you can use leverage of up to 1:10. In fact, using limited leverage is ideal, it guarantees your capital from the wide volatility of this market.

Account Types

Most traders prefer brokers that offer more than one type of account, this also helps the broker attract different classes of traders. Tickmill’s account options are suitable for beginners and professionals.

Tickmill broker offers three types of accounts for a trader to choose from, all of them including a maximum leverage of 1:500. However, the maximum leverage may change according to the traded asset and the local regulations.

All three types of accounts share the same trading software options, namely MetaTrader and MT WebTrader. Every account type has the same access to financial markets and they all rely on CFD trading without any direct market access.

Similarly, every account has the same access to educational materials, webinars, and tutorial videos.

After having looked at the shared features across all three accounts, let’s dive into the main differences between these accounts, and explain the minimum deposit requirement and the cost of trading entwined with these accounts.

Classic accountThis type of account is recommended for new traders. It charges zero commissions, meaning there are no commissions imposed at any market entrance or exit, and there is no commission on deposits or withdrawals.

However, the classic account has a wider spread than other accounts, the spread here starts from 1.6 pips. The minimum deposit required for this type of account is 100 units of any base currency (USD – EUR – GBP).

Pro account

The pro account is usually used by traders with hands-on experience in trading, and who are willing to promote their trading experience by exploring more options. This trading account is not commission-free, and there are 2 commissions imposed on every side of the trade for every traded lot.

This type of trading account is characterized by having a tight spread range, starting from 0.0 pips, which justifies the commissions imposed on every side of the trade.

The minimum deposit required for this account is also 100 USD/EUR/GBP, and pro traders can use maximum leverage of up to 1:500 on different financial instruments. Additionally, the minimum contract size allowed is 0.01 lot, which is in line with other financial brokers that you may see.

VIP account

Tickmill’s VIP account is designed for wealthy traders, those who have built a fortune and have a strong portfolio and experience with handling higher risk.

There is no minimum deposit requirement for this account, but in order to qualify for VIP account status, you need to maintain an amount of 50,000 USD/EUR/GBP in your balance. Traders with the VIP class can use the same maximum leverage as any other account, up to 1:500.

However, VIP traders can enjoy the enhanced commission system, coming with tight spreads and low trading costs. The spread range starts from 0.0 pips, and there is only 1 commission imposed per side for every 100,000 units traded.

Islamic account

Many brokers adopt the Islamic account to their services. These accounts are also known as swap-free accounts because they do not credit or debit the trader for keeping the market position active overnight.Traders who follow the Islamic faith refrain from any type of trading that includes swap or rollover, because they are not considered a valid source of income according to Sharia law.Tickmill’s Islamic account is not treated as an additional type of account. A trader may request to switch a Classic, Pro, or VIP account to a swap-free account, and the customer support team will ideally process the request within 1 business day.

Once a trading account is switched to an Islamic account, a trader can then keep a position active overnight, without being charged a rollover. However, another type of charge kicks in with handling fees taking the place of rollovers.

Demo account

New traders are usually attracted to brokers that offer a demo account, where they can practice whatever they have learned about financial trading without risking real money.

You need to register your email address as a demo account user. During the registration, you can select the account type that you want, the trading platform you want to use (MT4 or MT5), and the maximum leverage which is a great tool for practicing trading on margin.

Additionally, you can refill the amount of virtual money you have in your demo account to practice trading, as well as the currency of these virtual funds. You may have up to 7 demo accounts per registered email address.

Note that if you do not log in to your demo account portal for 7 days, your demo account will be terminated and you will not be able to access it.