Tickmill is an online brokerage equipped with abundant useful features. But, the question is, is this broker recommended for beginners?
Tickmill was established in 2015 and developed by a skilled group of global market traders who have extensive expertise and are aware of the requirements that traders need to fulfill to realize their full potential. The group focuses on expanding the business while acting in the customers' best interests.
They provide clients from all over the world, both retail and institutional, with the opportunity to trade a respectable variety of financial products in numerous markets, such as foreign exchange (Forex), commodities, stocks, shares, indices, metals, energies, bonds, and CFDs. The broker makes all trading tactics available to clients, including hedging, scalping, and the use of professional advisers. My impression is that the conditions there are conducive to day trading and the operation of automated systems.
The level of regulation that Tickmill maintains is really impressive to me. They are subject to regulations in a number of different countries, which indicates that there are certain guidelines that they must follow in order to safeguard investors' interests. Your eligibility for protection will be determined by the division of the broker with which you choose to create a live account.
I was delighted to find that the broker offered a wide variety of helpful trading tools to its clients. These may be used to assist in improving your trading environment, market analysis, and trading techniques. Having said all of this, I believe the MT4 platform should offer more than enough capabilities to satisfy most of your requirements.
You may also extend the platform's capabilities by using one of the myriads of extra products offered in the MQL marketplace, all of which are readily accessible through the platform itself. You may even construct your own MT4 tools using the MQL editor, which you can access from within the platform itself. In addition, dozens of MT4 tools are available online, either free or for a fee.
Tickmill regrets to inform you that it does not currently provide any more instructional material at this time. The areas of the website devoted to frequently asked questions and news come the closest to representing this.
This is quite frustrating, given that most brokers offer training information designed to assist in bringing newcomers up to speed. They may cater mostly to business customers rather than the general public. Despite this, there are a number of trading guidelines and tutorials that you can find online.
In general, I found Tickmill to be a very advanced online broker that was, at the same time, quite easy to use. They also provided a professional service that was appropriate for traders of all experience levels. Despite the availability of a demo account, I was really disappointed to discover that there was a severe lack of instructional resources. They might be an excellent option for a broker if you only want to do foreign trade exchange with minimal hassle and in a supervised setting.
Tickmill is the brand name of Tickmill Ltd. which offers trading services with premium products and innovative technology. Superior trading conditions, ultra-fast execution, the safety of client funds, and dedicated support are at the forefront of their offering.
Feb 7 2023
From my point of view, I need to know the deposits, spreads, leverage and fees offered by Tickmill to determine either Tickmill is good for beginner or not. One thing that I agree with the author is Tickmill does not offer educational features which are very important for beginner traders but fortunately, I still think you can get some knowledge from this website.
Also, because regulated by the many Financial Regulators, I think it is safe to trade with Tickmill. This is my opinion. Whether you agree or not, the best thing for newbies, especially me, is the terms and conditions offered. You need low deposit amounts and competitive trading conditions with other brokers!
Feb 7 2023
Jayce: In fact, the trading conditions offered at Tickmill are not bad at all. Even though in the Classic account their broker model becomes a Market Maker, all other accounts still use the non-dealing desk (NDD) model.
The minimum deposit available from ECN and Classic is $100 (other accounts have very high deposit requirements). Meanwhile, lot trading can be as little as 0.01 lots with spreads starting from 0.0 pips with ECN accounts and classic accounts starting from 1.6 pips.
The commission there is as low as $1 per lot. (read all the details here : tickmill review)
Is it good for beginners? Need many factors, as well as educational functions. So I totally agree with the author, new trader or not, the one that find brokers with minimal fees adn deposit can choose this
Feb 7 2023
"I believe the MT4 platform should offer more than enough capabilities to satisfy most of your requirements."
I think Metatrader 4 is an older version of the trading platform, but there is no denying that MT4 is the best trading platform for most forex traders use. Since I am a beginner, I would like to ask about MT4 itself. What's special about MT4 is that even Tickmill, a broker just founded in 2015, uses MT4 for its trading platform, even MT5 is also available in Tickmill too
Why can't MT5 beat MT4? is it more advance than MT4, right?
Feb 7 2023
Anwar Setiady: In my opinion, other instruments trading are not so many trader. For this reason, many traders still believe that MT 4 is the best trading platform for them and by the way, that is true.
Rejected or not, Metatrader 4 is basically being made for Forex trading. Over time, Metatrader has become a widely popular trading platform worldwide. You can try MT4 and MT5 to see the difference. I mean, based on my experience, MT4 is simpler while MT5 is more complex.
Meanwhile, judging from the instrument trading provided by Tickmill, most assets can be traded using MT 4 and based on this, I think the author has chosen MT4 to trade on Tickmill
You can read the article about MT4 in here or in article with this headline : Is Metatrader 4 is still relevant
Feb 7 2023
Looking at Tickmill reviews in general, I see that Tickmill is a market maker model. In other words, all accounts except the classic account are the NDD models. By judging the difference of the model (although I dont know the meaning Of Market Maker model and NDD Model), I think it is not same trading condition at all.
So what is the purpose of the broker model? Will it affect my trading?
Feb 7 2023
Meghan: Miss, the main different between models of forex is the source of the Liquidation Provider. I mean, in Market Maker, the liquidator is the broker. You are basically dealing with a broker. If you lose the trade, the broker takes the profit. Trading conditions such as creating a broker can be called Market Maker
Meanwhile, the NDD liquidation provider is another liquidation provider that has access to the main forex pool. I can say that with NDD you can trade the forex market directly, although you need many process steps to get into the main pool.
Can it affect your trading? If the market makers are regulated, it means you will not feel affected at all
Feb 17 2023
"They are subject to regulations in a number of different countries"
Okay, so Tickmill it self is regulated brokers in many countries. And as long as I know, to regulate, the broker need to fulfill some terms that needed. One of them is the trading condition. As I know, the body regulator that regulate Tickmill, one of them is ASIC which has very stritc trading condition. I mean, not only the trading condition, but also other condition such as trading bonus, welcome bonus, even deposit bonus. And not only that, the rules of trading also affected too. In other word, it may offer different condition from this country and another country.
So, if I took the example, the broker that regulated from many countries, which one that will applied on global trader?
Feb 17 2023
Winston: Honestly, I think global traders, traders outside the countries regulated by Tickmill, have more freedom and are subject to the weakest regulation. Traders in regulated countries, on the other hand, have to deal with foreign exchange national regulations, and in the case of the EU and the UK, ASIC traders also suffer more restrictive trading conditions, but are protected by strong law.
On the other hand, as a global trader, you get the most liberal yet least regulated trading conditions but with weak body regulators. No high leverage, low minimum deposits or many bonuses not found in Australian, UK and European traders but you can found in the global trader.
There is some term that identified broker like this : offhshore broker, the broker that is not regulated in trader's country. Need to understanding about the pros and cons to trader with offshore brokers, read here for the detail : Trading in Offshore broker, pros and cons
Feb 17 2023
After reading this article, I decided to open an account with Tickmill, but I faced some problems when opening an account there, include to provide some bills that have my address in there. Because cannot provide that, my registration failed.
The question is why many registrations needed, include my own home address. After that, they also need my ID and other proof of my identity and address.I am very uncomfortable.
Are there any easy steps to sign up with Tickmill? Fulfilling all the required paperwork to register with Tickmill can be very difficult. By the way, is there a security guarantee for my ID given to Tickmill?
Feb 17 2023
Jorge: The procedure that bothers you is called KYC or Know Your Customer. Very important and indispensable. All regulators around the world need to know their broker's customers. So they will try to find out your identity whether you are a criminal or not.
There are also rules that penalize brokers and other financial institutions for having clients who are wanted in another country. This law was enacted by the United Nations to prevent money laundering by criminals. And with this KYC, broker also can avoid ilegal money enter their environment.
For more information on these KYC, you should read the following articles: Why Do Brokers need to know your personal ID
Don't worry about IDs. The broker guarantees customer privacy. You can also follow this article step by step to open an account with Tickmill :
How to open an account in Tickmill
Juan Don Sanchez
Feb 17 2023
i think i agree with the author. Tickmill is a very advanced broker. Therefore, all functions are very helpful for a beginner to develop in his FOREX trading. On the other hand, the Tickmill mobile trading app is also very advanced and easy to use.
On the other hand, this proves that this advanced broker offers her ECN account. And amazingly, it only takes $100 to open this account and you can take advantage of RAW spreads and other ECN programs!
It also has a very hands-on trading experience for beginners. This means that you can trade with $100 and have a maximum leverage of 1.500; which is very high leverage. Therefore, it helps you open more trades and increase your chances of getting profit from trading. Don't forget friendly spreads and commissions that Tickmill offered.
Mar 17 2023
Regarding the hedging strategy mentioned in the article, I followed the provided links and found out that hedging is not allowed in the US but is allowed in other countries. The article also discussed other trading strategies such as scalping, day trading, swing trading, and long-term trading. However, I only learned about hedging after reading the article. The article mentioned that Tickmill allows all trading methods. Regarding hedging, since the article was discussing whether Tickmill is suitable for beginners, I would like to ask if it's advisable for beginners to trade with hedging and what the purpose of hedging is
Mar 17 2023
Hey there! So, hedging is a way to manage risk when trading by minimizing or offsetting the potential losses that may occur due to bad price movements. This is done by opening a position in the opposite direction of an existing position using things like futures, options, or CFDs. However, hedging is not really recommended for beginners because it requires a lot of knowledge and experience to be effective.
The point of hedging is to reduce the risk of losses by creating a counterbalancing position to an existing trade. For example, if you have a long position in something, you can hedge against potential losses by taking a short position in the same thing or something related. So, for someone who is just starting out with trading, it might be better to focus on learning the basics before trying to use hedging strategies.
Mar 17 2023
In my opinion, while only hedging may be more advanced, all other methods of trading can be learned by beginners based on their needs, time, and goals. For example, if a trader wants to make a profit quickly and has the time to trade frequently, they can learn about scalping and day trading. On the other hand, if they don't have much time and view profit as a long-term investment, swing trading and position trading can be more suitable.
In order to trade successfully, beginners need certain features to help them, such as trading tools and education. Since Tickmill offers both of these and has low deposit and trading fees (only $100 deposit with 1:500 leverage and $1 commission), it can be considered a good broker for beginners. You can read more about these features on here : Tickmill Review. Therefore, even without using hedging strategies, beginners can still trade effectively with Tickmill.
Mar 17 2023
Dude, I don't think Tickmill is that bad, but it's also not that good for beginners.That means you can get a demo account, but it lacks other useful resources. However, since I was aiming to do forex with the least amount of problems, I don't think that matters too much to me. The author also said that in Tickmill, problem is seldom occurred and the Tickmill can be my best partner to trading.
But before going to open account in there, I have a question about opening an account there. Because Tickmill offered multiple accounts such as Calssic, ECN Pro and VIP Account. Also, both the Classic account and his ECN account require $100 to start, but ECN Pro offers fixed spreads and Classic offers variable spreads. Which Tickmill account is best for a beginner like me?
Mar 17 2023
It depends on your needs dude. I am trader at Tickmill and I opened account at The Classic account. The classic account in Tickmill offered variable spreads and no commission fees, which for me, might be more suitable for beginners who are still learning about trading and want to start with a lower risk. Since it has no commission, you can trade without need to paid for the total volume that you trade. Meanwhile, based on the Tickmill website, This ECN Pro account offers fixed spreads, which can be beneficial for traders who want to know exactly what they'll be paying for each trade, but requires a higher deposit amount. However, fixed spreads can sometimes be wider than variable spreads, so it's important to consider this when choosing an account. account might be more suitable for traders who have more experience and are looking for a more advanced trading environment.
Apr 18 2023
@Bambang:When it comes to choosing the best account type for a beginner on Tickmill, it depends on your trading style and preferences. The Classic account offers variable spreads, which means that the spread can change based on market conditions, while the ECN Pro account offers fixed spreads, which means that the spread remains the same regardless of market conditions. The VIP account requires a larger deposit and offers additional features, such as a dedicated account manager and lower commission fees.
For beginners, the Classic account may be a good option as it allows you to start with a smaller deposit and provides the opportunity to learn and practice trading with variable spreads, which can help you develop your trading strategy. On the other hand, the ECN Pro account may be more suitable if you prefer the certainty of fixed spreads and are willing to start with a larger deposit.
It's important to note that different account types may have different trading conditions and fees, so make sure to carefully review the details of each account before making a decision. Additionally, Tickmill offers a demo account that you can use to practice trading and test out different account types before committing to a live account. This can be a great way to gain experience and confidence in your trading abilities before risking real money.
Apr 18 2023
As a beginner trader, I'm interested in opening an account with Tickmill, but I want to make sure I choose the best account type for my needs. I see that Tickmill offers multiple account options, including Classic, ECN Pro, and VIP accounts, each with different features and requirements. Can you provide a detailed comparison of these account types, including their minimum deposit requirements, commission fees, spreads, and other relevant features? Additionally, which account type do you think would be most suitable for a beginner trader like myself who is just starting out and looking for a low-risk and straightforward trading experience? Furthermore, can you share any insights or tips on how to maximize the benefits of Tickmill's trading platform and tools, such as their MetaTrader 4 platform and their range of trading instruments, to ensure a successful and profitable trading journey as a beginner trader?
Jun 2 2023
@Kaisar Geres: Considering your beginner trader status, the Classic account may be the most suitable choice. It offers a lower minimum deposit requirement and doesn't charge commission fees, making it more accessible and cost-effective for those starting out. It also provides a user-friendly trading platform and access to a range of trading instruments. If you want to check another type account, you can just read in this article : Which Tickmill Account Type is Right for You?
About Metatrader 4, I consider you to do :
Familiarize yourself with MetaTrader 4: Learn the features of Tickmill's trading platform to make informed decisions using its charting tools and indicators.
Utilize educational resources: Take advantage of Tickmill's tutorials, webinars, and market analysis to enhance your trading knowledge.
Develop a solid trading plan: Create a well-defined plan with clear goals and risk management principles to protect your capital.
Explore different trading instruments: Diversify your portfolio by trading various assets available on Tickmill's platform.
Regularly evaluate and refine your strategy: Adapt your approach based on market conditions and analyze your performance to improve over time.
Hope it can help!