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Did you know that Tickmill requires a minimum deposit of $100 for opening a trading account? However, the minimum deposit amount may vary for the first-time trader according to the type of account. Additionally, the activation process of a deposit can take up to 72 hours.
Here you will get complete information about Tickmill minimum deposit and this brokerage company. This comprehensive review of the broker will help the traders to decide which type of account is more suitable for them. Also, you will know how to fund your live trading accounts.
About Tickmill
Tickmill is a regulated broker that came into existence under the regulation of the financial services authority of Seychelles in 2014. Moreover, with over a decade of experience, Tickmill minimum deposit provides its traders complete access to the global market for an efficient trading experience. It has its headquarters in Seychelles and earns a reputation as an award-winning broker in the trading market.
Also, the tracking record of Tickmill in the financial market is amazing, and the broker has had consistently strong results over the years. In addition, Tickmill proves itself an innovative and trustful leader in the trading market with its struggle in the past years. At the same time, Tickmill minimum deposit strives to provide both its retail and institutional clients with an efficient trading environment to achieve their goals effectively.
What is Tickmill minimum deposit?
There is a USD100 minimum deposit required to open an account with Tikmill. However, in the current currency exchange rate between the South African rand and US Dollar, the minimum deposit amount was equivalent to 1500 ZAR. Also, as a licensed broker, Tickmill has a responsibility to keep the deposit of its client in a segregated account from its broker where only the trader can utilise or withdraw the funds.
Steps for depositing the minimum amount
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After registering and approving a live trading account, traders can deposit their funds from their bank account via their area and through one of the segregated client accounts at Tickmill.
However, traders must log in to their area; then, after selecting the deposit option and following the given instruction, they can deposit into a live trading account. Also, ensure that you have selected the correct deposit currency before making any deposit. Otherwise, traders must charge the currency conversion fees.
Tickmill account types
Tickmill has a variety of accounts. It offers classic, pro, VIP, and Islamic accounts to traders. Each account type at Tickmill provides comprehensive solutions and services to its clients along with its competitive trading conditions.
Tickmill account features
There are several features available through Tickmill accounts that include the following:
1. Classic account
This is the most basic account available at the Tickmill. It requires a minimum deposit of $100 for opening an account. In addition, like all other trading accounts, it also offers a swap-free Islamic account on request.
However, it offers a leverage of 1:500 with a spread starting from 1.6 pips. Moreover, despite having wider spreads, this account does not charge commission for any trade.
2. Pro account
This account that Tickmill offers is a great option for experienced traders. At the same time, it requires a minimum deposit of $100 for opening a live trading account. In addition, traders can access tighter spreads by paying a commission of $2 per side per 100000 traded.
3. VIP account
This account type is eligible and effective for professional traders who have higher volumes. However, to open this account requires a minimum deposit of $50000. Consequently, trading with this account becomes more profitable by lowering the commission to $1 per 100000 traded.
Tickmill Islamic account
Islamic accounts are available at Tickmill for Muslim traders who want to adhere to Sharia law. However, it is currently uncertain that this Islamic account offering at Tickmill is merely a policy to allow traders to convert their existing live trading accounts into Islamic accounts. And whether this Islamic account is a separate account with its application process.
In addition, traders can take advantage of the following features with a Tickmill Islamic account:
- Islamic account at Tickmill requires a minimum deposit of $100 for the activation of the trading account.
- It offers spreads starting from 1.6 pips. However, various factors may vary the spreads, including the type of instruments, time of the day, and other related factors.
- By using the STP model, traders can directly execute their trades.
- No interest is charged on the contracts held longer than 24 hours with a consistently zero rollover interest rate.
- Tickmill Islamic account will not charge any additional commission for the contracts held for more than 24 hours.
- There is a five-digit spread available for the traders.
- The micro and mini lots are available for the traders for trading.
- Expert advisors, also known as EAs at Tickmill Islamic account, allows traders to automate their trading.
Tickmill demo account
A demo account is available at Tickmill, and it can be used for a variety of purposes that are following:
- A demo account serves as a practice account for beginners, allowing them to make their trading skills efficient and practice trading with virtual funds in a safe environment.
- It is for the traders who want to assess the trading conditions at Tickmill. Moreover, it is for the traders who want to compare the brokers without experiencing any risk.
- The opportunity for the traders to stimulate a live trading environment without putting their capital at risk.
- However, signing up for a demo account with Tickmill is completely digital and hassle-free.
- Traders can start trading after downloading and installing the trading platform of their choice with the web browser’s help.
Tickmill payment methods
Tickmill trading platform offers its traders a wide range of payment methods that can be used to make deposits in their trading accounts. It offers local bank transfer options such as master cards, visa, and debit cards. In addition, it also offers e-wallet options to make deposits such as Neteller, Skrill, FasaPay, China UnionPay, and PaySafeCard.
However, for processing these payment methods, Tickmill requires one working day. Whereas, Tickmill accepts USD, EUR, PLN, and GBP as deposit currencies.
Tickmill pros and cons
Pros
- It is well regulated.
- It offers high leverage with competitive spreads.
- It is effective for all types of traders.
Cons
- It does not allow US traders to trade.
- It has limited trading platforms.
Bottom line
Now you know that the minimum deposit amount at Tickmill is $100 for opening a trading account. Furthermore, it does not require any additional fees. However, third-party charges may be required to start trading. In addition, withdrawals at Tickmill are efficient and fast. That can be done by internet bank transfer within 24 hours.
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