South African Financial Sector Conduct Authority (FSCA): Supervises Tickmill South Africa (Pty) Ltd. (License No.for stock and futures trading activities.
Tradable Securities
Tickmill offers a variety of tradable securities across several asset classes. You can trade major currency pairs in the forex market. For stocks and indexes, they offer CFDs on popular companies, ETFs, and over 15 major indices. Tickmill also allows trading in bonds, currently focusing on German bonds. In the commodities market, you can trade precious metals and energies. Additionally, for experienced traders, they offer futures and options contracts on major US stock indexes.
Commissions Fees
Tickmill's commissions depend on your chosen account. The Classic account offers commission-free trading with slightly wider spreads starting from 1.6 pips. For tighter spreads, the Raw account charges $3 per lot per side but offers spreads from 0 pips. Finally, the Futures account has commissions starting at $0.85 per contract, replacing spreads with margin requirements that vary depending on the futures contract.
Here's a table summarizing the commission structure:
Deposit and Withdrawal Fees
Tickmill offers a variety of deposit and withdrawal methods. Some options are not available in all countries. The minimum deposit amount is generally $100 (or equivalent in other currencies) and the minimum withdrawal amount is $25. Deposits are typically processed within one business day, while withdrawals take up to one business day depending on the method.
Bank Transfer: This is a widely accepted method with no fees for deposits or withdrawals. However, it takes a bit longer to process compared to other methods.
Credit/Debit Cards (Visa, Mastercard): Another convenient option with no fees and instant deposits. Withdrawals are also processed within a business day.
E-wallets (Skrill, Neteller, Paypal, etc.): These offer fast and convenient deposits and withdrawals, usually processed within a business day. There are no fees for deposits, but some withdrawal fees apply.
Region-specific options: Dotpay (Poland), Sofort (Europe) and Rapid Transfer by Skrill (various currencies) are also available in specific regions.
Account Types
Tickmill offers several account types to suit different trader needs:
Classic Account: This account is a good option for beginners or those who prefer a standard trading environment. It requires a minimum deposit of $100 and offers commission-free trading with spreads starting from 1.6 pips. Leverage goes up to 1:300, allowing traders to control a larger position size with a smaller deposit. This account type supports all trading strategies, including scalping and hedging. It also offers swap-free Islamic accounts for those who follow Sharia law.
Raw Account: Designed for experienced traders who prioritize tight spreads, the Raw Account offers spreads starting from 0 pips. However, a commission of $3 per lot per side applies. This account type also provides leverage up to 1:300. Similar to the Classic Account, it allows all trading strategies and has a swap-free Islamic account option.
Futures Account: This account satisfies traders specifically interested in futures contracts. It requires a minimum deposit of $1,000. Instead of spreads and commissions, margin requirements and contract fees apply. The margin requirement varies depending on the specific futures contract. Commissions start from $0.85 per contract. The Futures Account allows trading during exchange market hours and offers various order types for flexible trade execution.
Platforms & Tools
Tickmill offers three main trading platforms: MT4, MT5, and CQG.
MT4 (MetaTrader 4): This is a popular platform known for its user-friendly interface and wide range of features. It satisfies both beginners and experienced traders. Key features include advanced charting and analytical tools, sophisticated order management, the ability to use algorithmic trading with Expert Advisors, and mobile compatibility.
MT5 (MetaTrader 5): The successor to MT4, MT5 offers a more advanced feature set. It includes all the functionalities of MT4 along with additional features like built-in economic calendar and even more advanced pending orders.
CQG: This platform is geared towards professional and experienced traders. It provides robust exchange connectivity for direct access to markets, real-time market data feeds, and advanced trading tools and analytics for in-depth market analysis and trade execution. Similar to MT4 and MT5, CQG is also accessible from desktop and mobile devices.
Customer Service
Tickmill offers separate customer support channels for Forex & CFDs and Exchange Traded Derivatives. Their phone lines are available Monday to Friday from 7:00 to 16:00 UK time.
For Forex & CFDs related inquiries, clients can call +44 789 703 6806 or email support@tickmill.co.uk. For Exchange Traded Derivatives, clients can call +44 203 835 5105 or email clientservices@tickmill.co.uk.
Additionally, clients can send a general inquiry email to support@tickmill.co.uk and expect a response within 24 hours on business days.
Educational Resources
Tickmill offers a variety of educational resources for both Forex & CFDs and Futures & Options traders.
For Forex & CFDs traders, resources include video tutorials, webinars, a forex glossary, trading calculators, and an economic calendar. They also offer Autochartist for technical analysis, a VPS (Virtual Private Server) for improved performance, an advanced trading toolkit, and podcasts.
For Futures & Options traders, Tickmill provides an Education Hub with various resources, including ebooks and infographics. Additionally, they offer free LSEG accredited courses and a selection of other resources like economic calendars and seminars.
Conclusion
Tickmill is a multi-regulated broker offering a variety of instruments (forex, CFDs, commodities, futures, options) and user-friendly platforms (MT4, MT5, CQG) with competitive fees. While it boasts advanced features and educational resources, customer support is limited by hours and lacks 24/7 availability.
Social trading and non-electronic order methods are also not supported. If you value regulation, platform variety, and competitive pricing, Tickmill is worth considering, but be aware of potential limitations in support and account options.
FAQs
Q: Is Tickmill a safe and reliable broker？
A: Tickmill is regulated by several well-respected financial authorities around the world, including the FCA (UK), CySEC (Cyprus), FSA (Seychelles), and FSCA (South Africa).
Q: What trading platforms does Tickmill offer？
A: Tickmill provides a good selection of trading platforms to suit your needs. They offer the popular and user-friendly MT4 and MT5 platforms, along with the advanced CQG platform geared towards professional traders.
Q: What instruments can I trade with Tickmill？
A: Tickmill allows you to trade a wide variety of financial instruments, including forex, stock CFDs, stock indices CFDs, bonds, commodities, futures, and options.
Q: How much does it cost to trade with Tickmill？
A:They have a commission-free Classic account with spreads starting from 1.6 pips, and a Raw account with tighter spreads from 0 pips but with a commission fee per trade.
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