Dipo Olowookere
Tickmill, a renowned Forex broker, recently ranked top three in the best Forex brokers list according to TU, prompting a surge of interest from traders worldwide. Trading with Tickmill Forex has been reported to provide many benefits, further highlighting its market value.
Traders Union published a comprehensive Tickmill Forex review to shed more light on what sets this broker apart from the rest. Experts have highlighted the pros, cons, and analysis of the broker’s features.
What is Tickmill Group
TU experts have performed an in-depth review of the Tickmill Group, awarding it a commendable score of 7.96 out of 10. According to expert Anton Kharitonov, most Tickmill clients seem highly satisfied with the company, resulting in its ranking at 3rd position among the other top companies in the Traders Union Ranking. Tickmill’s commitment to innovative brokerage services has led it to be favored by both novice and professional traders. Moreover, its superior trading conditions, minimal spreads, and multiple regulated entities have garnered several awards, further validating its industry prowess.
Advantages and disadvantages of trading with Tickmill Group
The team at TU has identified the following significant pros and cons of trading with Tickmill
Pros:
- Zero Spreads: Traders can take advantage of spreads from as low as 0 pips, drastically reducing transactional costs and increasing profitability. This makes Tickmill an attractive option for competitive and cost-effective trading opportunities for traders.
- Open Strategy Acceptance: Tickmill stands out for its open strategy acceptance. It provides a platform where all trading strategies are allowed, offering flexibility to traders and enabling them to utilize the strategy that suits their trading style and objectives best. This makes Tickmill an ideal broker for traders using diverse strategies, from long-term investment approaches to high-frequency, short-term tactics.
- Negative Balance Protection: One of the vital features Tickmill offers is protection against negative balance. This feature ensures that traders cannot lose more money than they have deposited into their trading account, making it a safe trading platform, especially for beginners and those cautious about the potential financial risks involved in trading.
- Mobile App Trading Platform: In this era of technology, having a robust mobile trading platform is crucial. Tickmill’s mobile app allows traders to monitor the market, execute trades, and manage their accounts anytime and anywhere. It offers an essential tool for those who prefer to trade on the go.
Disadvantages:
- Limited Customer Support Hours: Despite many positive aspects, Tickmill’s customer support is only available five days a week from 7:00 to 16:00 GMT. This limited availability could potentially cause delays in getting assistance or resolving issues for traders operating in different time zones or those who prefer to trade outside these hours.
- Limited Choice of Currency Pairs: Tickmill offers a relatively limited selection of currency pairs. This could potentially limit opportunities for diversification for traders interested in exploring a wider range of currency markets.
- Absence of Cent Account and Trust Management: Another potential drawback is the absence of a cent account, which may deter novice traders looking to start with lower risk. Similarly, lacking trust management services may be a turn-off for investors seeking professional assistance managing their trading accounts.
Trading conditions for Tickmill users
Tickmill offers favorable trading conditions for novices and professionals. The broker offers different account types, including Classic, Pro, VIP, and Demo, each catering to various trading strategies and requirements. Details of trading platforms, leverage, account currency, minimum deposit, replenishment/withdrawal methods, and more are comprehensively discussed in our review.
Tickmill commissions & fees
Experts say Tickmill’s trading commissions have been evaluated based on the broker’s spread. Pro and VIP accounts have a fixed fee for a standard lot of $4 and $2, respectively. The average expenses for all three accounts were compared using the EUR/USD pair.
In addition to the Tickmill Forex review, experts have also reviewed the best broker for Forex trading. You can read detailed and insightful reviews on the official website of Traders Union.
Conclusion
Tickmill’s ascension to the top 3 Forex brokers, combined with its exemplary trading conditions and competitive commissions, presents a compelling case for traders looking for a reliable broker. Readers can visit the official TU website for more comprehensive reviews.
