Tickmill Review, Forex Broker&Trading Markets, Legit or a Scam-WikiFX

This is because they have been licensed by Tier-1 and Tier-2 financial regulators. $100 is the minimum deposit for the Classic and Pro accounts, but if you want to use a VIP account you need to maintain a balance of $50,000 to use the VIP account. There is a live chat function on the website that is very helpful.

However, the limited product offerings for cryptocurrency trading and the lack of educational materials may be a disadvantage for some traders. Also, Tickmill is not available for traders in certain countries, which may limit its accessibility for some users. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee. There is also no inactivity fee, but accounts that have been inactive for more than a year and have an account balance of less than €10 (or equivalent) may be closed by the broker. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments.

Overview of Trading Platforms

Users who have opened accounts with this broker get protection for their funds through the Investor Compensation Fund (ICF) and Financial Services Compensation Scheme (FSCS). Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for. The broker accepts clients from all over the globe, excluding some countries due to regulatory restrictions such as the USA, Cuba, Iraq, Myanmar, North Korea and Sudan. If you find that your country is not accepted, please feel free to browse our broker reviews for an alternative option.

The spreads and commissions are very competitive whilst the accounts are flexible enough to suit different trader needs. They have multi-jurisdiction regulation which means that I can focus on my trading whilst there is a very approachable support team if needed. You can trade a good range of currency pairs but I did find non-fx instruments to be slightly limited when compared to other brokers such as Swissquote. They do have the user-friendly MT4 trading platforms and FIX API solutions for institutional traders. I like that they have Autochartist as I find this excellent for automated market analysis.

What is Tickmill?

However, whatever you may see on social media, the markets are not geared against small-time traders, there is no massive conspiracy against you. The markets move with the ebb and flow of demand and sentiment, it’s not a zero sum game, you can win without someone else losing. Sure there may be a bit of spoofing and some algos working in the background, but generally, the only thing that causes retail traders to lose money is, themselves. Tickmill is more than just a run-of-the-mill broker to grind the market out tick by tick.

The firm also conducts free conferences around the globe to rope in more customers and meet the brokers in person. The average spread price is somewhat higher for the Classic account at the Tickmill site and, as such, not preferred by beginners and other traders. Although Tickmill accounts for beginners are very useful, the broker company is highly recommended for seasoned and VIP traders as well. The trading forum is especially for traders who seek competitive prices and low brokerage fees for trading in various regulated asset classes.

How we ranked fees

I originally thought that legitimate platforms wouldn’t be unreasonable, so I asked the platform to withdraw 150,000 US dollars. I have tried to communicate with the platform multiple times, but there has been no response. Now the MT5 account can no longer be used, and the funds have been swallowed.

What you need to keep an eye on are trading fees, and non-trading fees. The users get access to competitive spreads and over-night swap rates. The one-click trading https://traderoom.info/just2trade-forex-broker-overview/ (OCT) tool can increase the functionality of MT4 by enabling you to perform trade operations with a single mouse click from a quick trading panel on the chart.

Table of Contents

The downloadable e-book serves as the perfect trading guide for beginners. Tickmill allows accessing the MetaTrader 4 platform for trading and investing in a broad range of asset classes. The multi-asset broker of MT 4 is ideally suited for trading in stocks, bonds, and forex base currencies. The negative balance of an account is very feared by many traders. For some brokers, traders in the past have been able to build up debt or negative balance through extreme market conditions, which had to be balanced. They are leveraged derivatives that can be traded on a variety of values.

Tickmill is a regulated broker that has a reasonable selection of around 80+ financial instruments which you can trade online. They provide you with a choice of professional yet easy to use trading platforms for all of your devices. I found there to be plenty of tools for conducting in-depth market analysis and generating automated trading signals. I am impressed with the brokers trading conditions which includes very low spreads and commissions along with rapid trade execution speeds at the best available market prices.

Severe slippage of 25 points caused losses of more than 1000 dollars due to tickmill’s errors and manipulation

If you prefer to trade with lower spreads and commission fees, then the Tickmill Pro Account will be the best for you. You will need to provide your email address and name, then select the language team, in our case English, to start talking with a Tickmill support agent via the live chat. A handling fee per lot applies on Islamic accounts after holding a position overnight for more than three days consecutively.