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Tickmill Forex broker review 2020
Tickmill Forex broker review 2020

Founded in 2014, Tickmill is regulated
by the UK Financial Conduct Authority ( FCA), the Securities and Exchange Commission of Cyprus (CySEC),
and the Financial Services Authority
of Seychelles (FSA).

The broker provides more than
80 + CFD instruments to trade
through three core trading accounts
called the Pro Account, Classic
Account and VIP Account on Forex,
Indices , Commodities and Bonds.
They are also offering a demo trading account and a swap-free Islamic account

Users are offered the ability to trade on Windows , Mac, Web, Android and iOS operating systems from the globally recognised MetaTrader 4 trading platform, as well as a wide range of trader research and analysis tools that include webinars, seminars, video tutorials and the latest articles on fundamental and technical analysis. A Tickmill VPS service, Auto Chartist and a ranking service are also available to traders. Auto chartist and a range of Forex Calculators.

Pros:
Cons:
Fully-regulated broker, fully-regulated
.Globally-recognized and multiple broker awards
. Multiple laws and licenses.
.Commission-accessible free trading accounts.
. Standard and pro terms of trade
. Good expenses and commissions
. Excellent support, tools for learning and research
An impressive range of research and analysis tools for traders.
. No stocks available.
. MetaTrader 5 not available.

. Conditions vary according to regulation and entity

Globally recognized and multiple awarded broker


. No 24/7 support

What is the minimum deposit for Tickmill?

For all account types, the minimal deposit is $100. You have to achieve a minimum balance of $50,000 to get a VIP account, though.

Deposits and Withdrawals

Bank wires, credit / debit cards, Skrill , Neteller, Sticpay, Fas pay, Union pay, NganLuong, QIWI, and WebMoney support Tickmill. The minimum deposit and withdrawal amounts, respectively, are $100 and $25. Processing times range from instant to seven working days. While most fees are waived by this broker, third-party charges generally apply. Tickmill covers fees above $5,000 for wire deposits, For up to $ 100. For all traders, not all options are available, and withdrawals will be returned to the same processor used for the deposit.

Is Tickmill safe or a scam?

When it comes to determining whether Tickmill or any other broker is a legitimate and secure broker, the registration where the broker operates and the relevant regulatory obligations that oversee the Forex trading industry are definitely checked.

Is Tickmill legit?

Tickmill is a multiply regulated broker is different jurisdictions, hence considers a secure broker to deal with. Tickmill as a Securities Dealer is the trading name of Tickmill UK Ltd and Tickmill Ltd Seychelles.

Therefore, the broker approved and supervised by two major UK Financial Conduct Authorities and the Seychelles Financial Services Authority contains stringent regulations for each agency. In addition, Tickmill is now now spreading to the Asia region and setting up its agency to cover the initiative.

In addition, Tickmill Europe Ltd (formerly Vipro Markets Ltd) is a member of the Investor Compensation Fund (ICF) and is approved and supervised by the Cyprus Securities and Exchange Commission (CySEC).

Customer Protection

Tickmill manages the funds of consumers in separate accounts with reputable financial institutions to ensure stability and integrity of transactions, as per FCA regulations. Furthermore, investors with contributions of up to £ 50,000 are provided by the FSCS.

Is Tickmill a regulated Forex Broker?

For traders and brokers, regulations and licences are necessary so that a trustful partnership can be established. Any conditions and specifications must be followed when a broker applies for a licence. In most cases, a breach of the regulation involves the direct loss of a licence.

Regulations and permits are required for traders and brokers so that a trustful relationship can be formed. When a broker applies for a licence, all terms and guidelines must be met. A violation of the law in most cases includes the direct loss of a licence.

The safety of customer funds

A trustworthy broker should be provided the protection of client assets. Trust in a broker is very critical in online investing. Many smaller brokers often treat money inappropriately without a licence and training. In order to prevent such abuse, the appointment of brokers should pay attention to those requirements.

Tickmill insures customer accounts for operations independently from company assets. Barclays Bank, which functions globally and is still liquid, is used for this purpose. Furthermore, in the unfortunate case of Tickmill ‘s collapse or financial dilemma with the Financial Services Settlement Scheme (FSCS) of up to £ 75,000, customer assets would be covered. This is a very high value compared to other brokers, which usually have no deposit guarantee or a smaller one.

Regulation and safety:

  • Regulated by FCA, CySEC, and FSA
  • Customer funds are managed by Barclays Bank
  • High deposit guarantee of 75,000 GBP (FCA license)
  • Safe website communication

Does Tickmill allow scalping?

What are the benefits of bargaining with Tickmill? Tickmill gives you low spreads starting from 0.0 pips with an overall ultra-fast execution pace of 0.15 seconds. … We are proud that we have no trade limits and no specifications. We also permit scalping, hedging, arbitrage, algorithms and EAs.

Commissions & Fees

Three accounts are supported by Tickmill. In conclusion, Tickmill is ideal for involved and VIP traders, who have access to rates that rivals among the industry’s lowest brokers.

Classic accounts: The Classic account is commission-free, where the bid / ask spread is charged only for traders. However, compared to the other two account forms, the average spreads are larger, rendering the Classic account unattractive.

Spreads: The all-in expense is equal to 0.53 pips after factoring in the RT commission equal of 0.4 pips using the standard spread details mentioned by Tickmill for its Pro account price of 0.13 pips for EUR / USD. It is worth noting that under normal market conditions (when spreads are narrower), Tickmill reports standard spread details.

Pro account: Pro accounts have a minimum deposit of $100, can be supported in GBP / EUR / USD, spreads begin at 0 pips, and up to 1:500 leverage. Commissions are two-sided per exchange and are based on the base currency of every 100,000 dealt.

VIP versus Pro accounts: While the VIP account requires a minimum balance of $50,000 for traders to access low commissions of $1 per standard lot (100k units) or $2 per Round-Turn (RT), with an RT fee of just $4 per standard round-turn lot, the Pro account has identical pricing. For as little as a $100 deposit, the Pro account is open.

Customer Service

Dailybluepips.com collaborated with consumer engagement consulting firm Customerwise to perform call checks from locations across the UK to rate Customer Support. 330 customer service tests were carried out over six weeks for our 2020 Review.
Results

Average Connection Time: < 1 minute

Average Net Promoter Score: 6.1 / 10

Average Professionalism Score: 8.2 / 10