Tickmill LTD is a company located in the Seychelles and is an FCA regulated broker. Tickmill is a retail Forex broker with connections to the Armada Markets which as of January 2015 has switched its focus on providing substantial liquidity and their services to banks, hedge funds, and forex brokers. The company offers at present 62 currency pairs in addition to silver and gold trading.
Account types and Platforms
Tickmill provides three types of accounts:
- The Classic account requires a minimum deposit of $100, and the spreads vary on average by 1.2 pips.
- The Exchange account requires a minimum $300 deposit. This is an ECN account, and so there are no spreads.
- The company also offers a Corporate account for businesses.
The leverage provided is 1:500, so traders have the ability to trade $100,000 a lot worth of currency pairs for just $200. Also, all funds are neatly segregated and kept separate from the business’s capital.
Tickmill traders can use the excellent MetaTrader4 platform for all their real-time market information and prices. The platform works on both Macs and PCs though Macs will need to run a Windows emulator. The mobile version of the platform is available for smartphones and tablet computers mainly running iOS and Android operating systems.
We consider Tickmill to be a comparatively high-tech broker. You get this impression the first time by visiting the company’s official website. It’s littered with various technological methods, and the design is very attractive.
The USPs (Ultimate Selling Features) are clearly listed on the website as being leverage, micro lots, spreads, and low initial deposit.
Scroll further down the main page, and you’ll find a list of features offered by Tickmill. The features are listed as:
- Direct access to the forex markets if you are an ECN broker
- Zero membership fees
- Very low spreads, which means the broker earns money via the commission paid by the trader.
The company also boasts of offering a number of trading strategies some of which are not found with other brokers. Take for instance the one click trader which can easily be downloaded and it has a hedging option. The instructions regarding installation of the Spread Indicator is clearly detailed in the ’tools’ section of the website.
In addition to the regular MT4 platform Tickmill also has a Myfxbook Autotrade copy platform. The platform allows traders to easily copy the trades from any system directly to their MetaTrader4 account. The system has been designed so that there is no additional software to be installed and only a list of historically portable types of systems are listed from a handful of real accounts.
You can see some of the features offered by Tickmill above
The system can be added and removed whenever needed. Plus, traders get to choose from many MetaTrader4 systems and the devices it is used on.
The broker runs many different contests and campaigns at any given time which includes a deposit bonus starting from $50 for a $500 deposit as well as a refer-a-friend feature where both the referrer and the friend get $50 when the friend makes their first trade.
The company also has monthly trade competitions. A panel comprising of three judges will choose the best trader based on their overall monthly profit when the month ends. In addition, the maximum drawdown ratio, overall profit to loss, and risk management are also considered.
The company offers customer service mainly via chat, telephone, skype and email from 7:00 – 20:00 GMT. The official website is available in a number of languages such as:
Similar to many other forex brokers Tickmill supports MetaTrader4. The software is available for PCs and Macs, as well as iOS and Android devices, plus it can be accessed via a web browser.
It goes without saying that MetaTrader4 is the most popular Forex trading platform or terminal for over a decade. It continues to be the platform of choice for many brokers and investors.
The interface is easy to use and offers all the features a trader would need to execute profitable trades. Plus, there is an advanced charts package, extensive testing environment, technical indicators and an array of Expert Advisors that are woven into the platform.
TickMill has also managed to partner with MyFXBook, and so it can now offer clients automated trading via its new AutoTrade platform. A VPS service can also be used with TickMill, making it possible for traders to use the EA applications of choice which can be run 24/7 without having to leave their computers on. The Beeks VPS starts at £20 a month.
Methods of Payment
Traders who choose to use TickMill can choose from an array of payment methods which include the regular debit/credit cards and wire transfer. In addition, Neteller, Skrill, dotpay, Union Pay and FasaPay can also be used to fund or withdraw money from the account.
It goes without saying that TickMill is, in fact, a well reputed Forex broker and a CFD broker of choice for many traders because of its solid reputation. The fact that it offers a diversified portfolio and great trading conditions make it a broker worth considering. We like the ECN option the most.
Is this your final decision?
We suggest you visit one of the popular Forex Brokers instead!
- Regulated by the FCA
- Offers ECN with competitive prices
- Supports the MT4 trading platform
- Offers low initial deposit accounts and very high leverage
- Does not offer the choice of any other trading platforms
7 Binary Options review: Tickmill: 4,5 stars