Is TickMill a Brokerage We Can Rely On?

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This review is a result of months spent with the brokerage firm, TickMill. The review team had performed an exhaustive examination of all the firm’s offers and services. This literature looked hard into the following:

 

  1. The firm’s regulatory status 
  2. The trading instruments that the firm’s gives access to
  3. The features that are being offered through the firm’s available trading accounts
  4. The trading platform that the firm offers
  5. The fees that the firm charges for its services
tickmill 1

tickmill 1

About TickMill

 

The brokerage firm, Tickmill is classified as a “plain vanilla” financial company that offers MetaTrader 4 as its only trading software. 

 

One of the features that online traders readily notice about TickMill is that it offers minimal tradeable securities. With this in consideration, the firm avails its clients highly competitive commission-based pricing for the more seasoned traders through its VIP and PRO Accounts.

 

TickMill was founded back in 2014. Its operations are being sanctioned by one tier-1 financial authority specifically the Financial Conduct Authority (FCA) and two other tier-2 regulators that specifically caters to Forex and CFDs trading. The firm is publicly traded and is not in any way regulated by any central bank. 

 

TickMill is seen to be relatively low-risk by both its clients and other non-subscribing parties, hence enticing to the latter. 

TICKMILL online forex broker indices commodities bonds Tanzania

TICKMILL online forex broker indices commodities bonds Tanzania

Offers and Services

 

Accessible Trading Instruments

 

TickMill offers Spot Trading and Social Trading or Copy Trading alongside the number of markets that it gives its clients access to. The markets readily available to TickMill traders include Foreign Currency Pairs of over 62 pairs and CFDs of over 13.

 

However, what the review team saw as an area of improvement is that TickMill could opt to include Cryptocurrencies in its trading portfolio. In light of this, it could also choose to trade Cryptocurrencies as CFDs.

 

Available Trading Accounts

 

TickMill offers three types of accounts, these are detailed below:

 

  1. Classic Accounts 

One of the things that immediately jump out of TickMill’s offered Classic Account is that it is commission-free, meaning traders are only required to pay for the bid/ask spreads. However, the team notes that the average spreads are relatively higher compared to the Pro and VIP Accounts. This is the only thing that makes the Classic Account not enticing.

 

  1. VIP Account

The VIP Account offers a per-trade commission that are added to lower spreads. The offering of such is what makes the account make a cut above the rest. 

 

  1. Pro Account

The Pro Account offers low commission rates. It is seen by the trading community as ideal as the Spreads that clients are privy to come at lower costs and 75 tradeable assets which includes 62 Foreign Currency Pairs. 

 

The review team notes that TickMill’s available trading accounts have appealing features and offers. The only area of improvement that the brokerage can focus on are the specificities of the Classic Account.

 

To open an account, only a minimum deposit of $100 is required of the trader. No withdrawal fees are charged with clients availed of only 4 base currencies. 

 

Offered Trading Platform

 

While seen by some to be too limiting, the review team thinks that TickMill had been wise in offering only MetaTrader 4 as its trading platform. This is owed to the fact that apart from being able to establish more focused trades, the MT4 allows for speedy access to the markets. 

 

MetaTrader is seen as a wise choice in light of its efficiency in its provision of highly-customizable charts, numerous trading tools and add-ons, and an intuitive user interface. Navigating through the functions of the trading platform is easy and allows for convenience of execution of trades. MT4 is widely-used and trusted in the trading industry.

 

Trade with TickMill Today!

 

Through the facets of the brokerage that had been discussed here, it is easy to assume that trading with TickMill will highly likely render handsome profits. 

 

Given the many benefits that the brokerage offers, its clients are in on good trading conditions and trading opportunities. These are manifested through the following aspects of the brokerage’s service:

 

  1. TickMill’s regulatory status; the brokerage is being regulated by the FCA, a tier-1 financial authority.
  2. TickMill’s wide range of trading instruments 
  3. TickMill’s trading accounts that feature advantageous functions
  4. The firm’s offering MetaTrader 4 as its sole trading platform
  5. The fees that are being charged by TickMill seen as competent by its clients.