Tickmill Review South Africa ‚Äď Unbiased Pros & Cons Revealed ( 2020 )

Tickmill Review South Africa

Tickmill Review South Africa

 

WHAT IS TICKMILL?

 

According to research in South Africa, Tickmill is a trading name of Tickmill Ltd, a member of Tickmill Group, which is regulated by the Seychelles Financial Services Authority (FSA).

With a proven track record of strong financial results and stable growth, Tickmill has defined itself as a trusted market leader and innovator.

Built by traders for traders, the company’s team members have trading experience that spans back to the 80s and have successfully traded on all major financial markets from Asia to North America.

The company’s mission is to provide retail and institutional clients around the world with an exceptional trading environment that empowers them to reach their full potential.

To this end, the company provides access to over 80 instruments with spreads as low as 0.0 pips and some of the lowest commissions on the market.

The company provides one of the industry‚Äôs fastest execution times ‚Äď 0.15s on average and no re-quotes.

Clients can trade the world’s financial markets by using virtually any trading strategy, including EAs, hedging and scalping.

Visit their official website now

 

SAFE OR SCAM?

 

Tickmill Ltd is regulated by the Seychelles FSA (license: SD 008) and has been regulated by the FCA (license: 717270) since 2016.

CySEC has regulated the company’s European entity, Tickmill Europe Ltd (license: 278/15) since 2015.

The FSA is a recognized regulatory body, while CySEC falls under the jurisdiction of the EU and thus offers clients the security levels associated with trading in this jurisdiction.

As such, Tickmill is a well-regulated broker that is able to offer its clients a safe and secure trading environment.

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TICKMILL REVIEW OF PRO AND CONS

 

PROS CONS
1. Competitive pricing 1. Limited platform options
2. Well regulated
3. High leverage

 

LEVERAGE

 

One of the most appealing factors about forex trading is the use of Leverage and Margin.

These applications allow traders to use a small amount of capital to open and maintain a much larger position. For example, if traders want to open a trade of $100,000 worth of EURUSD, they won’t need to have that $100,000 dollars in their account!

Technically, leverage is where a trader has a large sum at their disposal while using a significantly smaller amount of their own funds. They effectively borrow the rest from their broker.

For example, clients trading with a 1:100 leverage with $1,000 USD in their account, effectively receive $100,000 available for trading.

When trading with a larger amount, as leverage enables one to do, traders can open bigger positions and potentially earn larger profits. However, with bigger positions there is also a higher risk whereby losses could also be larger.

As such, Tickmill offers a minimum leverage of 1:1 and a maximum leverage of 1:500, which is standard for the industry but higher than the leverage allowed for EU resident traders.

 

ACCOUNTS

 

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.

All accounts at Tickmill offer STP market executed trades in 0.1 seconds on 62 currency pairs in addition to CFDs on stock indices, metals, and bonds, without any dealing desk interference. Tickmill does not offer cryptocurrency CFDs.

The margin call and stop-out percentage differ for the retail and professional versions of the accounts where the margin call to stop-out for retail clients is 100% to 50%, and professional is 100% to 30%.

Clients can choose between four wallet currencies ‚Äď USD, EUR, GBP, and PLN.

 

Demo Account 

Tickmill’s demo account is available for new traders and will remain open until there is no login for seven consecutive days.

 

Classic Account 

This is Tickmill’s entry-level account which requires a minimum deposit of 100 USD, and offers a Swap-free Islamic account option, as with all of the company’s accounts.

The spreads on the Classic Account start at 1.6 pips and maximum leverage is 1:500. Traders should keep in mind that this is the only account that uses wider spreads instead of charging a commission on each trade.

 

Pro Account 

The Pro Account requires a 100 USD minimum deposit and is the entry-level account for professional traders.

Tighter spreads are available in exchange for a commission of 2 USD per side per 100,000 (a standard lot) traded. This commission pricing and structure is an industry-standard and is in line with what other STP brokers offer clients for the same services.

 

VIP Account

The VIP Account is designed for high volume professional traders and requires a 50,000 USD minimum deposit.

The commission is reduced to 1 USD per side per 100,000 (a standard lot) traded which makes trading even more profitable. This is a very competitive professional account and offers excellent trading conditions.

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MARKET INSTRUMENTS

 

Tickmill provides trading on forex, stock indices and oil, precious metals, and bonds, as described in more detail below.

 

Forex

  • Spreads from¬†0.0 pips.
  • Access to¬†60+ Currency Pairs.
  • 15s¬†Average execution speed.
  • All¬†trading strategies¬†enabled.
  • Leverage up to¬†1:500.

 

Stock Indices and Oil

 

  • Spreads from¬†0.0
  • Access to¬†14+ Indices.
  • 15s¬†Average execution speed.
  • All trading strategies enabled.
  • Leverage up to¬†1:100.

 

Precious Metals

  • Spreads from¬†0.0
  • Access to¬†Gold & Silver¬†crosses.
  • 15s¬†Average execution speed.
  • All trading strategies enabled.
  • Leverage up to¬†1:500.

 

Bonds

  • Spreads from¬†0.0
  • Access to¬†German Bonds
  • 15s¬†Average execution speed.
  • All trading strategies enabled.
  • Leverage up to¬†1:100.

 

Read the Stratton Markets Review here

 

FEES

 

Commissions 

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), the Pro account has similar pricing with an RT commission of just $4 per round-turn standard lot.

The Pro account is available with as little as $100 deposit.

 

Spreads

Tickmill’s all-in cost equates to 0.52 pips when factoring in the RT commission equivalent of 0.32 pips. It is worth noting that Tickmill records typical spread data during normal market conditions (when spreads are narrower).

 

Pro account 

With a low commission rate, the Pro account will be ideal for most traders compared to the Classic account, as spreads are inherently less expensive, and 84 instruments, including 62 currency pairs, can be accessed.

Meanwhile, active traders are eligible for further discounts, depending on their trading volumes in the VIP account, giving Tickmill competitive all-around pricing.

 

DEPOSIT AND WITHDRAWAL

 

Tickmill accepts deposits through a variety of global and local methods, under a Zero Fees Policy. These include:

  • Visa/MasterCard
  • Bank transfer
  • Neteller/Skrill
  • STICPAY
  • fasapay
  • UnionPay
  • vn
  • QIWI
  • WebMoney

 

The company’s Zero Fees policy means that Tickmill will reimburse traders for any fees charged up to 100 USD.

If clients were charged, submit a copy of the bank statement showing the charge, and the amount will be credited. Should the trading account become inactive, Tickmill reserves the right to start reimbursing transfer fees.

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TRADING PLATFORMS

 

Tickmill has a limited range of platforms when compared to many other brokers in the industry, consisting of the ever popular MetaTrader4 and the company’s proprietary WebTrader.

 

MetaTrader4

Designed specifically for traders, Tickmill’s MetaTrader4 platform provides a user-friendly and highly customisable interface, accompanied by sophisticated order management tools which control positions quickly and efficiently.

MT4 is widely recognised as the world’s favourite Forex trading platform. It offers an easy-to-use user interface, enhanced charting functionality, indicators and supports MQL language.

Users can easily program indicators and Expert Advisors (EAs) to trade the Forex market 24/5 with no intervention needed from their side.

Combined with Tickmill’s enhanced trading conditions, users are able to use a globally recognised trading platform accompanied by spreads from 0 pips and 0.15s execution.

 

WebTrader

With all of the same functionality as the native application, Tickmill’s Web Trader gives users a reliable and intuitive interface, enhanced by securely encrypting any transmitted data.

Traders have access to one-click functionality to open and close trades, employ effective risk management and access exceptional charting capabilities.

In combination with Tickmill’s enhanced trading conditions, traders are able to use a globally recognised trading platform directly in their browser, accompanied by spreads from 0 pips and 1.5s execution.

 

HOW TO OPEN AN ACCOUNT

 

The Tickmill review is simple and easy. Traders can open an account in the Client Area, efficiently and securely.

 

CUSTOMER SUPPORT

 

Tickmill offers a decent level of customer support, though lacking in some areas when compared to other brokers.

Clients have the option to submit a query form or contact one of the company’s phone lines. However, the support team is only available from 7:00 to 16:00 Monday to Friday, and there is no live chat option available.

The lack of direct access to the customer’s support team, which is not available 24/7 as with other brokers, might present a drawback for those wishing to resolve more urgent issues.

 

EDUCATION

 

Tickmill excels in terms of its extensive offering of educational tools. Tickmill’s main resource is its downloadable e-book, while the company’s webinars are also excellent resources.

The company’s 46-page e-book is a handy option for an online course for beginners. The e-book covers Forex Trading Basics and how Forex trading works, an introduction to the Major Currency Pairs, Trading Strategies and the major types of Forex analysis.

The company’s Webinars are run in four languages (English, Arabic, Italian and German), and all previous webinars are available in an archive.

Subjects include more fundamental concepts like News Trading Strategies to Technical Analysis and Chart Theories like Standard Elliot Wave Models.

The company also has a schedule of free seminars around the world, which introduce traders to new areas of learning and also allows clients to meet brokers in person and establish trading relationships.

 

RESEARCH

 

Tickmill provides a regular blog which covers topics that relate to both fundamental and technical analysis.

Research often covers different currency pairs and encourages traders to learn about market-moving events outside of conventional news sources.

The company is also active on their TradingView Pro account where analysts are continually marking up charts.

 

AWARDS

 

Tickmill’s quality offering and popularity amongst traders have been noticed and rewarded by its industry peers, with the company winning the following awards to date:

  • Best CFD Broker Asia 2019 (International Business Magazine)
  • Best Forex CFD Provider 2019 (Online Personal Wealth Awards)
  • Best Forex Execution Broker 2018¬†(UK Forex Awards)
  • Best Forex Trading Conditions 2017¬†(UK Forex Awards)

More importantly for potential customers, Tickmill was the recipient of the Most Trusted Broker 2017 (Global Brands Magazine) for its continual focus on keeping pricing competitive and maintaining a fair trading environment.

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CONCLUSION

 

Tickmill is an award-winning and trustworthy STP broker that relies heavily on industry-standard platforms to enable fast execution.

With a strong education section, additional premium tools offered to traders for no extra cost, and good trading conditions, Tickmill should be a top choice in Forex brokerage.

The company’s educational resources make it a user-friendly option for newbie brokers, while its high-level offering of tools and platforms makes it an equally viable option for intermediate traders.

 

Read the Tallinex Review here

 

DISCLAIMER

 

High Risk Warning: Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors.

Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite.

It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk.

The site contains links to websites controlled or offered by third parties. Tickmill has not reviewed and hereby disclaims responsibility for any information or materials posted at any of the sites linked to this site.

By creating a link to a third party website, Tickmill does not endorse or recommend any products or services offered on that website. The information contained on this site is intended for information purposes only.

Therefore, it should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it would be unlawful to make such an offer or solicitation.

If you are not sure about your local currency and spot metals trading regulations, then you should leave this site immediately.

You are strongly advised to obtain independent financial, legal and tax advice before proceeding with any currency or spot metals trade.

Nothing in this site should be read or construed as constituting advice on the part of Tickmill or any of its affiliates, directors, officers or employees.

The services of Tickmill and the information on this site are not directed at citizens/residents of the United States, and are not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law, according to research in South Africa.

 

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