Trading How Trading Should be Done – An Honest Tickmill Review

Trading How Trading Should be Done – An Honest Tickmill Review

Tickmill Review

As a new trader, you have to be fully confident about your choice of the broker because if you have made the wrong choice, you will pay in many ways. A broker not only provides you a trading platform but also decides how much money you can earn on your trades. If the commissions of the broker are too high, you will hardly make any profit on your trades. In a similar manner, it can be quite difficult to grow your money as a trader if there are no leverages available from the broker. Tickmill has established itself as a broker who understands trading and its traders to the core.

This broker has gone ahead of any other broker on the internet in terms of the quality of its services and the usefulness of its features. It has worked on exactly the things that traders demand from their brokers. Let’s take a look at the features of Tickmill trading platform one by one to find out what the overall experience of its traders is like.

The Three Tickmill Trading Accounts

When you land on a broker’s website, you have to see what account types you can choose from. in many cases, you only have one account that you have to pick. Not having any choices can be frustrating when you want things to be your way. With Tickmill, you will be glad to know that you have three different accounts types to choose from. Each account type has its features that are suited to a different group of traders. The good thing is that you can find something for yourself whether you are a new trader or someone who has been trading for many years.

The three accounts available with Tickmill are called Classic, Pro, and VIP. You can tell from the names which account is meant for new traders and which ones are meant for experienced traders. The first thing to notice about these accounts is the initial deposit you have to make. It is amazing how the requirements for the Pro and classic accounts are so easy that even a student can meet them. For example, all you have to do is to deposit just $100 in your account to activate either Pro or Classic account. Yes, the VIP account is meant for experienced traders only and that’s why the minimum deposit required to open this account is $50,000.

You have more basic currency options with Tickmill than you have with most other online brokers. You can trade using GBP, EUR, USD, and PLN as your base currencies. You can use any of these currencies as the base currencies in your account no matter which one you pick. The most amazing thing that you are going to love about the account types from Tickmill is that you can open an Islamic account as well. Your Islamic account option is available with all three of the accounts mentioned earlier. When you have an Islamic account, you don’t have to worry about the swaps that occur at the end of the day.

Regardless of which account type you pick, you have access to the entire asset index from the broker. In this asset index, you can trade forex currencies, bonds, precious metals, energies, indices, etc.

Tickmill Trading Conditions for Traders

It is imperative to know how free you feel to earn profits on your trades when you sign up with a broker. Do feel you can make profits on your trades easily or you are having a hard time making any profits? It all depends on the trading conditions your broker has produced for you. As stated earlier, you can start your basic accounts with just $100. It means that the broker is trying its best to make its trading platform accessible to the traders as much as possible. Furthermore, you have four currencies that you can use as base currencies. Therefore, you don’t always have to convert the currency you have and suffer from the exchange rates on that day.

The biggest indicator of trading conditions is the leverage you get from your broker. You will be surprised to know that Tickmill gives its traders some of the biggest leverages in the industry. There are very few brokers that can compete with Tickmill with the size of the leverages for the traders. So, whether you sign up with the most basic account called the classic account or the most advanced account called the VIP account, you will get a huge leverage of 1:500. Yes, that’s how much money your broker is willing to bring in your every trade.

When you have only $1 in your account and you want to trade it, the broker is willing to contribute $500 for that one dollar in your account. You are surely to make a lot of money with such a huge leverage. However, it also begs you to show the same amount of care on every trade because of the risks involved. The next most important thing in deciding the trading conditions for the traders is the commission or spreads on your trades. You can be charged on your trades in multiple ways. You can either pay the broker in the form of spreads or go with the commission model.

With the most basic account, your spreads start from 1.6. They are tight spreads but you can easily get better. However, the broker has canceled the effect of the spread with the help of commissions. Yes, you do not have to pay any commissions on your trades if you go with the most basic account type. However, you do have to pay commissions on your trades when you go with either the Pro or VIP account. Commissions can be charged the broker on both sides or just one side. When you pay the broker in the form of a commission, you don’t have to look at the spreads because there are no spreads in this particular model.

Tickmill Trading Instruments

When you sign up with Tickmill, you can trade many different types of assets. You have to keep in mind at this point that you will mainly be trading CFDs once you have signed up with this broker. Trading CFDs means that you will be trading derivative contracts. You will not be trading the assets themselves when you have an account with Tickmill. Let’s take a look at the four asset classes that are available to you for trading when you are with Tickmill.

Stock Indices and WTI

The first thing to keep in mind while trading in this asset class is that you will be trading CFDs here. Just because the name of the asset class is stock indices does not mean you will be trading real indices and stocks here. There are quite a few stocks and indices that you can trade with Tickmill. These indices come from the best financial markets from around the world. Some of the best indices that you can trade with this broker come from Germany, Italy, Hong Kong, Australia, South Africa, etc. You will be surprised to find FTSE and Nasdaq on the list too. In short, you have the best indices of the world at your disposal for trading once you are with Tickmill.

Bonds

The bonds that you can trade with the broker are mainly the German bonds. The currency of these bonds is Euro and you can trade on the smallest tick sizes available. You can trade these bonds with a small margin of just 1%. This means you can trade these bonds without requiring a lot of money in your account. Even if you are a student, you should not have any issues in starting your trading account with Tickmill and trading the German government bonds. There are certain triple swap days that you have to keep in mind when trading with this broker.

Precious Metals

If you find any interest in trading precious metals, you will not be disappointed after joining the Tickmill trading platform. It is true that you don’t have the biggest asset index from the broker when it comes to the precious metals, but you are surely getting access to the most traded precious metals in the world. Once you have signed up with one of the three accounts with Tickmill, you can trade gold and silver on the trading platform. Do keep in mind that your leverage will change based on the precious metal you are trading. When trading silver, your leverage will be cut down by 1/4th of the standard leverage available on your account.

Forex Currencies

This is where you enjoy the true luxury because there are so many different currency pairs available for you to trade. With many other online brokers, you cannot trade currency pairs other than the most famous one. Yes, these famous currency pairs are liquid and hence stable, but they are not the best ones when you want to make money fast. When it comes to making money from your forex trading, you want to go with the currencies that are rarely traded. You will be pleased to know that there is a total of 60 currency pairs available for you to trade when you sign up with Tickmill. These currency pairs include the most exotic and rare ones so you can make a lot of money in a lot less time than you would with major currency pairs.

Once again, you have to keep your eye on how your leverage will be affected when you trade different currency pairs on the trading platform. When trading the USD, your leverage will be fully available to you. However, the leverage will be cut down significantly when you are trading a rare currency pair like USD/ZAR.

Tickmill Money Deposits

You have just about any deposit method that you can think of available with Tickmill. The broker has worked hard in several years to provide its traders with the options that they are most comfortable with. So, you can transfer your money into your online trading account using the bank wire option. If you don’t like that option, you can use your credit card to deposit funds in your account. When it comes to credit cards, you can use MasterCard or Visa credit cards without any problems. It takes around a day for your transferred funds to appear in your online trading account.

You can also use the most famous ewallet options on Tickmill. You can go with Skrill or Neteller because you have both of them available with this broker. For most of the brokers, their deposit options end here, but that’s not the case with Tickmill. You have several other options of depositing money in your account available. Many of these methods are suited to people in certain countries. For example, if you are in China, you would want to go with the Union Pay option. You have this option available to deposit funds in your account with Tickmill. You also have the NganLuong option available, which takes only a day for your funds to transfer to your account.

Other options that you can use for funding your online account with the broker include Globe Pay, Vietnam Online Bank Transfer, Thailand Online Bank Transfer, and many others. You don’t get these many deposit options with most other brokers. So, it does not matter which part of the world or which country you belong to because you will surely find one deposit option that suits your needs.

You have to keep in mind the different amounts that you can deposit and withdraw from your account based on the option you have used. The most amazing thing is that you will not have to pay any type of commission on your deposits because the broker is covering that for you. In most cases, it will take around a day for you to withdraw the funds from your account. For depositing the funds in your account, most of these methods will instantly transfer the funds in to your online trading account with the broker.

Tickmill Trading Platform

Another important thing when you sign up with a broker is the trading platform where you will execute all your successful and unsuccessful trades. This is the place where your trading experience is truly defined. If your trading platform has problems, your overall trading experience will be poor. You will not have to worry about any of that because Tickmill is giving you access to the MetaTrader 4 trading platform. If you are in touch with the online trading industry for some time, you must be aware of this platform and how it is the best platform for trading in the world.

Traders and brokers admire this platform alike. They admire it for its user friendly design, the integration of several indicators and tools right on the platform, and many other useful features. You are going to love the fact that you can use this platform on just about any device you want. If you want to download it on your desktop computer, you can do that with ease. However, you can also download it on your mobile device and use it. It does not matter which operating system you have on your mobile device because this trading platform runs on iOS and Android.

If you don’t know, one of the best ways for you to learn about the trading platform, its features, and what trading is all about is to learn through a demo account. You do have access to a demo account when you sign up with Tickmill. This demo account lets you have a taste of the trading platform and the financial markets without any risks involved. With fake credits in your account, you can simulate real trades and see how you perform. This will give you a basic idea of how you will be using the platform as a trader throughout your trading career.

Tickmill is also providing you the web trader platform. Web trader is the trading platform in the form of a web application. When the trading platform is a web application, you don’t have to worry about any compatibility issues. Whether you are using a mobile device, a desktop computer or something, if you have access to one of the major browsers, you can run the web trader with ease. No matter which part of the world you are in, the experience of trading on the web trader will remain the same for you.

Tickmill Promotions

This is an area where Tickmill beats just about any online broker. In fact, you will hardly find any online brokers that offer you any kind of promotions. Yes, there are some but they are hard to find. You have not one or two but four different promotions that you can take advantage of when you sign up with Tickmill. The first and the foremost is the welcome bonus you receive as soon as you sign up with the broker. The welcome bonus gives you a credit of $30 in your account after signing up. You can use this $30 to trade on any asset of your choice while being on the Tickmill trading platform.

The broker is there to appreciate you when you perform well as a trader. For that reason, it is always ranking its traders based on their trades and their performance in the trades. If you are able to beat everyone else in trading, you will get what the broker calls the “trader of the month” award. Winning this award will bring you $1000 in your account that you can then use to enter trades of your choice. These promotions are unique not only because of how they are designed but also for the fact that they are not usually seen in the online trading industry.

There is also an IB contest held by the broker to give you even more opportunities to win money while trading on the Tickmill trading platform. By being a part of this promotion, you have a chance to win the Hyundai electric car. If you don’t win the car, you can still qualify for many prizes that can award you a huge $10,000 in your account. You will not find any other broker with such great promotions for its traders on the internet. It is clear that Tickmill cares about its traders and wants to appreciate them for staying with it and for joining its platform.

Tickmill as a Safe Broker

It is important for you to ensure that your money and information will be safe with the broker. How can you ensure that? You don’t have any other way than to verify the regulation of the broker. When you sign up with Tickmill, you can enjoy the peace of mind that your broker is a fully regulated broker. In fact, Tickmill is unique in that it is regulated by multiple regulating authorities from around the world. The three main regulating authorities monitoring the financial services of the broker are Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), and Seychelles Financial Services Authority (FSA).

Even the money you deposit in your account goes into segregated accounts for the safety of your money. This type of safety comes only from the best online brokers and Tickmill happens to be one of the top brokers in the world.

Bottom Line

Tickmill is a broker that truly cares about its traders, which can be seen from its features. Even when you land on its website you can see that it is available in a dozen different languages. When you need help, you can contact the company on its email as well as a phone number stated on the website. If you are a new trader and you want to start your trading career without any huge risks, you should definitely consider Tickmill as one of the options. This broker is regulated, has the best trading platform and asset index, and it gives you the best trading conditions so you can grow and progress as a trader.

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Kenneth Smith

Kenneth Smith lives in Adelaide, Australia and is full time trader. Kenneth offers you his many trading tips in his articles. All the information presented in his posts are based on extensive experience gleaned from years of working with many trading platforms.