Introduction
When it comes to choosing a forex broker, understanding the different account types offered is crucial. Tickmill, a reputable brokerage firm, provides traders with a range of account options tailored to suit various trading styles and preferences. In this comprehensive guide, we will delve into the details of Tickmill’s account types, exploring their features, benefits, and suitability for different traders.
Table of Contents
- Tickmill Pro Account: Best for Scalpers
- Tickmill Classic Account: Ideal for Casual Traders
- Tickmill VIP Account: Tailored for Experienced Traders
- Tickmill Futures Account: Designed for Seasoned Traders
- Tickmill Professional Account: Specialized Account for Professionals
- Tickmill MAM Account: Perfect for Multi-Account Managers
- Tickmill Islamic Account: Catering to Muslim Traders
- Inactive Tickmill Trading Accounts: What You Need to Know
- Conclusion
1. Tickmill Pro Account: Best for Scalpers
The Tickmill Pro account is specifically designed for traders who engage in scalping strategies. With this account, you can access a wide range of markets, including Forex, commodities, bonds, cryptocurrencies, futures, and options. The account offers competitive spreads starting from 0 pips, and you will be charged a commission of $2 per side per lot. Traders under CySEC and FCA regulation can benefit from leverage up to 1:30, while those under FSA, FSCA, and SFSA can enjoy leverage up to 1:500.
2. Tickmill Classic Account: Ideal for Casual Traders
The Tickmill Classic account is suitable for traders who prefer a more relaxed trading approach. Similar to the Pro account, it provides access to various markets and offers spreads starting from 1.6 pips. This account type is available on both the MT4 and MT5 platforms and allows leverage up to 1:30 for CySEC and FCA clients and up to 1:500 for FSA, FSCA, and SFSA clients.
3. Tickmill VIP Account: Tailored for Experienced Traders
The Tickmill VIP account is designed for experienced traders who require advanced features and prefer personalized services. Traders can access a wide range of markets and benefit from spreads starting from 0 pips. A commission of $1 per side per lot is charged, and leverage options are the same as the Pro and Classic accounts. To open a live VIP account, a minimum balance of $50,000 is required.
4. Tickmill Futures Account: Designed for Seasoned Traders
Tickmill offers a Futures account for traders interested in trading futures and options. This account is regulated under the FCA and provides access to 56 futures contracts and 6 options. Commissions start from $1.30 (standard) and $0.85 (micro) per contract. The Futures account requires a minimum deposit of $1,000.
5. Tickmill Professional Account: Specialized Account for Professionals
The Tickmill Professional account caters to professional traders who need higher leverage and specialized trading tools. This account is available under CySEC and FCA regulation, offering access to various markets and customizable trading options. Leverage is up to 1:300 for CySEC clients and up to 1:500 for FCA clients.
6. Tickmill MAM Account: Perfect for Multi-Account Managers
The Tickmill MAM (Multi-Account Manager) account is suitable for traders who manage multiple accounts simultaneously. This account type allows traders to allocate trades across unlimited sub-accounts and offers two allocation methods: balance and capital. The Tickmill MAM account is available on the MT4 platform, and the minimum deposit requirement is $5,000.
7. Tickmill Islamic Account: Catering to Muslim Traders
For traders adhering to Islamic principles, Tickmill offers an Islamic account that operates in compliance with Sharia law. This account type is available under various regulations and provides access to a wide range of markets. The Islamic account does not incur rollover fees, and the minimum deposit requirement varies based on the chosen account type.
8. Inactive Tickmill Trading Accounts: What You Need to Know
Tickmill has specific policies regarding inactive trading accounts. In the UK, if your account remains inactive for 12 months and your balance is zero, it will be archived. For other clients, if your account balance is less than $10 and you don’t log in within 90 days, it will also be archived. To resolve any account management issues, it is advisable to contact the Tickmill support team.
Conclusion
In conclusion, Tickmill offers a diverse range of account types to cater to the varying needs and preferences of traders. Whether you are a scalper, casual trader, experienced professional, or multi-account manager, Tickmill has an accounttype suited to your requirements. It is essential to carefully consider the features, trading conditions, and regulatory aspects of each account type before making a decision.
Key Takeaways:
- Tickmill provides multiple account types, including the Pro, Classic, VIP, Futures, Professional, MAM, and Islamic accounts.
- The Pro account is ideal for scalpers, offering competitive spreads and leverage options depending on the regulatory jurisdiction.
- The Classic account is suitable for casual traders who prefer a relaxed trading approach.
- The VIP account caters to experienced traders with advanced features and personalized services.
- Tickmill also offers a Futures account for traders interested in trading futures and options.
- The Professional account is designed for professional traders who require higher leverage and specialized trading tools.
- The MAM account is suitable for multi-account managers who need to allocate trades across multiple sub-accounts.
- Tickmill provides an Islamic account that complies with Sharia law principles.
- Traders should be aware of Tickmill’s policies regarding inactive trading accounts.
By understanding the nuances of each Tickmill account type, you can select the one that aligns with your trading goals and preferences. Remember to review the latest information and consult Tickmill’s official website for any updates or additional details.
