Economy
Tickmill Gets In The Top Three Forex Brokers In Experts’ Rankings
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.
By Adedapo Adesanya
NASD Over-the-Counter (OTC) Securities Exchange remained in the negative territory after it further depreciated by 0.64 per cent on Friday, July 24, despite recording four price gainers.
The NASD Security Index (NSI) dropped 27.4 points at the close of business to settle at 4,294.75 points versus the previous day’s 4,383.48 points, while the market capitalisation gave up N16.49 billion to end at N2.577 trillion, in contrast to the N2.594 trillion it ended a day earlier.
The bourse was down during the session amid heavy sell-offs, with the volume of transactions skyrocketing by 693.9 per cent to 2.99 million units from Thursday’s 377,635 units.
Equally, the value of trades went up by 71.6 per cent to N69.4 million from N40.4 million, and the number of deals increased by 41.0 per cent to 55 deals from the preceding day’s 39 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 75.6 million units traded for N5.4 billion.
GNI Plc was also the most active stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
The market ended the session with four price gainers and two price losers, led by FrieslandCampina Wamco Nigeria Plc, which lost N7.44 to trade at N136.19 per share compared with the previous day’s N143.63 per share, and CSCS Plc, which declined by N1.64 to N93.63 per unit from N95.27 per unit.
But MRS Oil gained N13.50 to sell at N148.50 per share versus N135.00 per share, Afriland Properties Plc advanced by 56 Kobo to N17.41 per unit from N16.85 per unit, UBN Property Plc surged by 18 Kobo to N1.93 per share from N1.75 per share, and Food Concepts Plc climbed by 1 Kobo to N2.50 per unit from N2.49 per unit.
By Dipo Olowookere
Nigeria’s stock exchange succumbed to profit-taking on Friday, losing 0.19 per cent when the closing gong was hit at 4 pm.
Shares in the banking and energy sectors influenced the decline suffered by the Nigerian Exchange (NGX) Limited during the session, as they respectively closed lower by 0.40 per cent and 0.04 per cent.
The industrial goods index was flat yesterday, while the insurance counter gained 0.68 per cent and the consumer goods space chalked up 0.25 per cent. The gains by these two segments could not keep Customs Street in the green territory at the close of business.
As a result, the All-Share Index (ASI) retreated by 474.00 points to 247,357.40 points from 247,831.40 points, and the market capitalisation decreased by N306 billion to N159.588 trillion from N159.894 trillion.
Presco dropped 10.00 per cent during the trading day to close at N2,070.00, Thomas Wyatt crumbled by 9.93 per cent to N3.63, Trans-Nationwide Express plunged by 8.44 per cent to N2.82, Royal Exchange slipped by 7.86 per cent to N1.29, and LivingTrust Mortgage Bank shrank by 7.32 per cent to N3.80.
On the flip side, C&I Leasing improved by 9.48 per cent to N6.35, Cornerstone Insurance rose by 9.09 per cent to N6.00, RT Briscoe jumped by 8.61 per cent to N13.25, Honeywell Flour expanded by 7.38 per cent to N17.45, and Africa Prudential increased by 6.98 per cent to N13.80.
Despite the poor performance, the local bourse recorded a positive market breadth index after finishing with 35 price gainers and 25 price losers, representing strong investor sentiment.
It was a relatively quiet market on Friday, as the activity level dropped, with the trading volume down by 27.72 per cent to 565.5 million units from 782.4 million units, and the trading value contracted by 46.89 per cent to N29.9 billion from N56.3 billion, while the number of deals executed by investors soared by 16.03 per cent to 53,688 deals from 46,273 deals.
Access Holdings was the busiest stock for the session, with a turnover of 128.0 million units sold for N3.8 billion, First Holdco transacted 35.4 million units worth N4.3 billion, Chams exchanged 34.8 million units valued at N154.3 million, Zenith Bank traded 30.4 million units for N3.9 billion, and UBA sold 30.4 million units worth N1.5 billion.
By Adedapo Adesanya
The Naira marked a whole week of appreciation against the United States Dollar on Friday, July 24, further gaining N5.67 or 0.41 per cent to close at N1,362.09/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) compared with N1,367.76/$1 it ended on Thursday.
Equally, the local currency appreciated against the Pound Sterling in the official FX market yesterday by N10.83 to trade at N1,813.62/£1 versus the preceding day’s N1,824.45/£1, and improved against the Euro by N7.68 to settle at N1,549.10/€1, in contrast to the N1,556.78/€1 it was exchanged a day earlier.
However, at the parallel market and GTBank forex counter, the Nigerian currency remained unchanged against the greenback during the session at N1,400/$1 and N1,379/$1, respectively.
The Central Bank of Nigeria (CBN) buffer has been strengthened with sustained foreign portfolio inflows and robust foreign reserves, which stand above $52 billion.
The apex bank’s policy signals that the Naira will be stronger in the near term, with Nigeria clearing hurdles with FX reforms and settlement of all backlogs.
However, some traders expect that pressure may come due to foreign-currency buying from fuel importers as they make Dollar purchases to build inventories.
Meanwhile, Bitcoin (BTC), in the digital currency landscape, trimmed recent gains as it fell by 2.3 per cent to $63,787.73.
The weak action in the AI momentum trade is feeding through to crypto as well.
Further, Cardano (ADA) dropped 3.7 per cent to close at $0.1615, Solana (SOL) dipped by 2.8 per cent to $73.71, Ripple (XRP) crashed by 2.3 per cent to $1.08, Ethereum (ETH) slid by 1.9 per cent to $1,851.58, Dogecoin (DOGE) retreated by 0.8 per cent to $0.0694, Binance Coin (BNB) contracted by 0.7 per cent to $564.18, and TRON (TRX) lost 0.5 per cent to trade at $0.3292, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
