Analysts Acknowledge Tickmill As One Of The Top Three Forex Brokers
Tickmill has made significant strides, landing among the top three Forex brokers per Traders Union assessments. But what makes Tickmill exceptional? What insights from the examination of the Tickmill Group? With a rapidly evolving Forex trading landscape, understanding top-rated brokers like Tickmill’s finer details becomes imperative for new and experienced traders.
Let’s dive into the view of TU experts about Tickmill Group and why it’s highly rated. Analysts have added the advantages, disadvantages and insights on the features of broker.
What is Tickmill Group?
Traders Union experts say Tickmill is a highly reliable broker, scoring an impressive 7.96 out of 10 in the TU Overall Score. Tickmill is an innovative platform that has set new standards in brokerage services, earning awards such as “Best Forex Spreads” and “Best Forex Trading Experience” in 2022.
Expert Anton Kharitonov endorses Tickmill based on the abundance of positive reviews and the broker’s robust array of trading opportunities. Ranking at 3rd out of 335 companies in the TU ranking, Tickmill has proven to be an excellent choice for professional traders and novices.
Tickmill Group consists of several entities regulated by respected bodies, including Tickmill Europe Ltd (CySEC, Cyprus), Tickmill Ltd (FSA, Seychelles), Tickmill UK Ltd (FCA, UK), Tickmill Asia Ltd (Labuan FSA, Malaysia), and Tickmill South Africa (Pty) Ltd (FSCA, SAR).
Advantages and disadvantages of trading with Tickmill Group
Here are a few advantages and disadvantages of Trading with Tickmill.
Advantages:
- Zero Pip Spreads: Tickmill offers spreads starting from zero pips. This feature significantly enhances potential profits, providing an edge, especially to those implementing short-term trading strategies. It provides a competitive advantage and creates an environment conducive to potentially profitable trading.
- Freedom to Implement Any Strategy: Using any trading strategy allows traders to tailor their trading experience based on their knowledge, experience, and risk tolerance. This flexibility is vital as it enables traders to optimize their operations, implementing strategies that suit their trading style and objectives.
- Protection Against Negative Balance: One of the risks in Forex trading is the possibility of the account balance going into negative territory due to highly volatile markets. Tickmill mitigates this risk by offering negative balance protection, ensuring that traders will not lose more money than in their trading account.
Disadvantages:
- Limited Customer Support: Tickmill’s customer support is available only five days a week from 7:00 to 16:00 GMT. This restricted availability can present challenges, especially when traders need immediate assistance or have queries outside of these operational hours. A 24/7 support system would enhance the trading experience, addressing concerns promptly, irrespective of time zones.
- Small Choice of Currency Pairs: A limited selection of currency pairs could restrict trading opportunities. Broader currency pair options provide a more diverse trading experience, enabling traders to explore a broader range of strategies and potentially enhance their profit opportunities.
- No Cent Account: The absence of a cent account option could be a disadvantage, especially for novice traders. Cent accounts allow trading with lower deposits, minimizing risk and offering an affordable way for beginners to gain practical trading experience without significant capital investment.
Evaluation of the most influential parameters of Tickmill
An in-depth review by Traders Union experts revealed the following scores for key parameters:
- User Satisfaction: 7.28/10
- Regulation and Safety: 8.92/10
- Commissions and Fees: 8.48/10
- Trading Instruments: 8.02/10
- Brand Popularity: 9.10/10
- Customer Support: 6.51/10
- Education: 7.21/10
Tickmill commissions & fees
TU experts have thoroughly analyzed Tickmill’s commission structure, including trading and non-trading commissions. For Pro and VIP accounts, a standard lot attracts a fixed fee of $4 and $2, respectively. A comparison of average expenses for all three accounts using the EUR/USD pair was undertaken to rate Tickmill’s commissions as low, medium, or high.
Conclusion
The verdict from experts showcases Tickmill as a reliable, innovative, and user-friendly platform suitable for a wide range of traders. It scores highly on user satisfaction, safety, fees, and brand popularity. However, it could improve in areas such as customer support and currency pair options. For more details on how Tickmill compares with other brokers, you can visit the official website of Traders Union.
