Tickmill offers 2 live accounts in addition to a demo and Islamic account options. Trading conditions improve with Tickmill account types, the main differentiating factor is the initial deposit required.
Tickmill Account Types – 6 Key Point Quick Overview
- ☑️ Overview
- ☑️ Account Types
- ☑️ Pros and Cons
- ☑️ Conclusion
- ☑️ Our Findings
- ☑️ Frequently Asked Questions
Overview
Tickmill offers its clients a great range of services and products. Tickmill is regulated within several regions by the Cyprus Securities and Exchange Commission (CySEC), The Financial Conduct Authority (FCA), and the Financial Sector Conduct Authority (FSCA).
Clients can trade the world’s financial markets by using virtually any trading strategy, including EAs, hedging, and scalping.
Account Types
Tickmill offers three different live accounts in addition to a demo account. While trading conditions improve with the account type, the main differentiating factor is the initial deposit required.
Classic Account
Trade CFDs on 62 currency pairs, oil, precious metals, bonds, cryptocurrencies and CFDs on major stocks and stock indices, with spreads starting from 1 on your Classic account. An edge in such deep liquidity provided by bank trillion dollar daily operations and no commissions.
The Classic commodity account is an excellent choice for the majority of traders and is equipped with the following options: high speed of order execution, full-fledged strategy using, and price feeds renewed approximately every 100 seconds.
The starter account is the trajectory for traders and has features that add to your trading experience.
Beside this, you should also know that with the Classic account, charts do not incorporate the mark up in market and spreads.
Raw Account
Trade with CFDs based on 62 currency pairs, stocks, stock indices, oil, precious metals, bond sand Crypto currencies with varying spreads starting from 0 on your Raw account. 0 pips.
There will be just $3 (or the relevant quantum of the currency of the account) commission on your Raw platform account on each lot traded. Our commission is the lowest, among other compliance companies.
While many brokers are not giving this opportunity to their clients, we are totally on the ball and enable you to place stops and limits orders prior to the market move. Thereupon, the maximum deal volume is 100 million Raw, and the limits of margin and invest for Raw Account users are zero.
Aside from the 2 main account types, Tickmill does make a Demo account and an Islamic option available.
Demo Account
Why Demo account?
EXPERIENCE REAL MARKET CONDITIONS
Try simulation exercise to train technical and fundamental analysis and trading strategy on a simulated platform with no real trading involved.
FULL-FEATURED TRADING PLATFORM
Introduce yourself to the complete array of customizable mechanisms that the MetaTrader platforms enable you to utilize, with your trading performance being the ultimate beneficiary.
180 + INSTRUMENTS OF TRADING FROM 6 ACCESSIBILITY CLASSES
Large business operation on various platforms that include Forex, Stocks, Stock Indices, Commodities and Cryptocurrencies among others as well as the lowest spreads in the market.
Islamic Account
One of the high lights of Islamic account is that it is a swap-free account since no swap or rollover interest is made on overnight positions, which is contrary to Muslim faith. Each and every Muslim client that opens his account with Tickmill regardless of whether he picked Classic or Raw one will be provided with the most favorable trading conditions, but the account will be converted to Islamic.
Islamic accounts have precisely the same trading conditions and conditions as an account of a regular market type with the exception only of the mechanism of the dividend payment. The final key difference is that there are no overnight swaps on trading instruments, but a charge is applied for jobs that last for more than three consecutive nights with overnight holding of multiple trading instruments throughout the aforementioned period.
Our Client Support team is the best and this is why we will take care of your Islamic account status request within 1 business day and you will receive an email confirmation after we complete the setting up. All additional trading accounts you will open from now on will be defined as swap-free manually after broker’s verification. Trading activity in each account will be classified as swap-free without your further contacting.
Clients can choose between four wallet currencies – USD, EUR, GBP, and PLN.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Competitive pricing | Limited platform options |
| Competitive spread of 1.6 pips on average for EUR/USD with their Classic Account | Tickmill does not offer the Metatrader5 version |
| High leverage available | |
| Instant deposit via Internet bank transfer | |
| No Deposit and Withdrawal Charges | |
| Tickmill is an NDD broker with no conflict of interest with its clients | |
| Well regulated | |
| Wide range of currency pairs available for trading forex. |
You might also like: Tickmill Demo Account – Step by Step
You might also like: Tickmill Fees and Spreads
You might also like: Tickmill Islamic Account Overview
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Conclusion
Tickmill offers a variety of accounts catering to different trader needs. Classic accounts suit beginners, Raw accounts target high-volume traders, and Islamic accounts address religious restrictions. The $30 welcome bonus allows risk-free exploration, while the rebate program reduces trading costs.
Our Findings
Tickmill provides a platform of accounts which aims to fulfill various trading requirements. For novice traders, the standard money account is quite a convenient option, providing rather low minimum deposits and average spreads. Raw Account leads to a professional trading experience only those traders who will be charged a commission fee can enjoy tight spreads. Islamic expo has a distinctive swap-free element along with administration fee may be applicable.
Frequently Asked Questions
What are the disadvantages of trading with a Tickmill account?
A disadvantage of trading with Tickmill brokers include the limited trading platform options and the fact that Tickmill does not support the popular Metatrader 5 platform.
What type of broker is Tickmill?
Tickmill is a NDD broker (No dealing desk) with no conflict of interest with regard to their clients.
Can I trade cryptocurrencies with Tickmill?
Yes, cryptocurrencies that can be traded with Tickmill include Bitcoin, Ethereum, Cardano , Tron and Litecoin
Does Tickmill offer leverage?
Yes, Tickmill offers maximum leverage of up to 1: 500.
What is the overall rating out of 10 for Tickmill?
The overall rating for Tickmill is 8/10
Featured SA Shares Writer and Forex Analyst.