With over 200 Forex brokers operating around the world, it can be difficult to choose the right one. Each brokerage company has different offerings and requirements. Also, it is better to select a popular and trusted one, so you can ensure your money is in safe hands.
Tickmill is one of the top choices when it comes to Forex brokers. Why is that, and can it be the one for you too? Let’s answer all these questions in this detailed review of Tickmill brokerage company.
Tickmill – A Detailed Review
- What is Tickmill, and Is it Safe?
First, let’s start with the basic questions you would have about any broker, the background info, and the legitimacy.
Tickmill is a Forex broker operating in various parts of the world, including Europe, South Africa, England, and Malaysia. Founded in 2014, the brokerage company has garnered huge popularity. That is mainly due to its regulation by Financial Sector Conduct Authority (FSCA).
In addition to that, the broker is also easy to deal with. It offers maximum convenience with several trading instruments, account types, and money transfer options. - Tickmill Trading Instruments
The broker offers a variety of market trading instruments. These include 62 Forex Currency pairs, Indices, Oil, Precious Metals, Cryptocurrencies, and bonds. - Tickmill Trading Platforms
Tickmill supports the two most popular trading platforms, MetaTrader 4 and MetaTrader 5. To many people, it is the biggest benefit of the broker. That is because MT 4 is the easiest trading software and ideal for beginners to get started with.
On the other hand, MT 5 is more complex and targeted towards experienced traders. It provides better insights and analytics. In short, the broker offers opportunities for both newbies and advanced traders. - Tickmill Account Types
Many brokerage companies do not provide a lot of account types. This can lead to a narrow window for traders to choose from.
You can start with three different account types with Tickmill. The first and most common option is Classic Account. It is available for both Forex and CFDs and requires a minimum of $100 deposit. You can use this account for three currencies, USD, EUR, and GBP, with 1.6 spreads and 1:500 leverage.
The second one is Pro Account which has the same minimum deposit amount and leverage. However, its spreads are as low as 0.0 pips. It is suitable for intermediate Forex Traders.
The last one is the VIP account which requires a 50,00 balance. It has the same leverage as well as the spreads like Pro Account. This one is aimed more towards experienced traders. - Tickmill Pros and Cons
Pros
- A variety of deposit and withdrawal options
- Easy to register and trade with
- The broker has won numerous awards
- Low trading fees
Cons
- The broker’s mobile trading could have been better
Conclusion
By considering all the essential and additional aspects of Tickmill, you can decide whether they are the right one for you or not. If you are unsure, you can always start with a demo account and register later once you are satisfied.
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