RECOMMENDED FOREX BROKERS
After we punched “Enter” what popped up was a fluid and informative home page. Tickmill seems to have all it takes to be in the top of the best brokers list. Yet, with so many brokers nowadays can Tickmill truly achieve ascendancy? Read on to find out.
Tickmill UK Ltd is the holding company of Tickmill, registered in the UK and Wales. The broker has a line of licenses from around the world that staple it as trustworthy. In the UK Tickmill is supervised by the FCA, which maintains the integrity of the UK’s financial markets. The inclusion of the FSCS guarantees that UK traders operating with Tickmill are eligible for a reimbursement of a sum up to £85 000 in case the company experiences bankruptcy.
In Cyprus Tickmill is authorized and regulated by CySEC. This body’s work is to oversee brokers and their operations, and if necessary to take disciplinary actions. Furthermore, Tickmill is a member of Тhe Investors Compensation Funds (ICF) under CySEC, that has as objective to compensate traders if a member of the ICF (in this case Tickmill) is unable to carry out its obligations. If this occurs then the trader is reimbursed a maximum of €20 000 from the collective fund.
In Seychelles Tickmill is regulated by the Financial Services Authority (SFSA). Their mission is to conduct national and international financial services arm in arm with other regulatory bodies.
There are some that will be let down due to the relatively small number of tradeable assets: Forex pairs, stock indices, precious metals, and bonds. In fact bonds are an uncommon but very appreciated asset. There are no CFDs on individual stocks, and no cryptocurrencies.
Leverages range from 1:30 maximum for the UK and EU (due to newly passed ESMA law), to 1:500 for the offshore branches. As for the EUR/USD spread, expect 1.6 pips. Both leverage and spread values revolve around the account types.
Tickmill provides its broker service in 15 languages: English, Indonesian, Chinese, Russia, Spanish, Arab, Polish, Dutch, Italian, Korean, Thai, Melayu, Vietnamese, Portuguese and Japanese.
Currently operating with MetaTrader 4 exclusively, Tickmill nevertheless has adorned this platform with multiple tools that further increase its potential. The 3 account types can gave an impact on the spreads, and overall trading experience.
Here we are again with this renowned platform, and for a reason. MT4 stands tall against other trading terminals. Consider using Expert Advisors to set your automated trading while you do other business, or take full advantage of what MT4 has to offer: superior chart management, micro lots, customized trading indicators and much more.
Expect spreads on average for normal account holders to be 1.6 pips. Pro and VIP owner spreads are as low as 0.0 pips.
Both Pro and VIP account holders fit for a commission of 2 per side per 100,000 traded, and 1 per side per 1 standard lot, respectfully. So in reality, Pro account spreads increase by 0.4 pips (0.2 pips per side) on all spreads, and VIP account cost of trading gains an additional 0.2 pips (0.1 pips per side) on all spreads.
What’s more, Tickmill hands out essential tools to be used in trade, such as Forex calculators and VPS, alongside others. An informative subsection for each tool has been added to introduce users to the different concepts.
MetaTrader 4 is available on all commercial operating systems (Windows, iOS, Android), and their supporting devices including phones and tablets. Expanding the accessibility of Tickmill is the web browser version: trade without the hassle of software downloads, but be reduced to not having access to Expert Advisors.
TICKMILL MINIMUM DEPOSIT
The minimum deposit is $100, or in any of the available currencies. VIP account holders are limited to a $50 000 minimum deposit.
Tickmill employs a variety of popular depositing methods: Visa, MasterCard, Bank Transfer, Skrill, Neteller, DotPay (limited to PLN), PaySafeCard, Sofort (only EUR and GBP).
The account base currencies are: USD, EUR, GBP and PLN
Expect Bank Transfer process times to be within 1 working day. All other deposits are instantaneous.
Any bank imposed fees on a deposited sums higher than $5 000 transferred via Bank Transfer will be covered by the broker, that is to say if the fee is below or equivalent to $100.
TICKMILL WITHDRAWAL TIME AND FEES
Those under the FCA/CySEC watchdogs can rest assured that no problem will arise from withdrawals.
Withdrawals are done using: Visa, MasterCard, Skrill, Neteller, PaySafeCard, Bank Transfer and Sofort.
The time for the money to reach your account is 1 working day per usual for all methods. However, there can always be unforeseen circumstances concerning traders’ unique payment systems.
One thing to get out of the way is the 0% commission on all withdrawals, something that more and more online brokers are dismissing.
However, there is a minimum withdrawal amount of 10 USD, EUR, GBP or PLN on the following methods: Visa, MasterCard, Skrill, Neteller, PaySafeCard and Bank Transfer. Sofort accepts only EUR and GBP (minimum 10), while DotPay has a requirement of at least 50 PLN for all withdrawals.
The absence of a sleeper fee means that traders can keep an account with as much or as little money in it, without being pressured into trading.
Tickmill can be trusted. That much is evident by its many licenses bodies, plus the array of rewards and honors always helps build a stable reputation. Not to mention the addition of not one but two compensation funds.
There is, nonetheless, a relatively small number of trading instruments.
The diverse and sound choice of payment methods, all of which are free of any withdrawal charges, plus a great overall interface, and a MT4 brimming with tools and options, result in one solid broker.