Tickmill Scam or Legitimate – A Detailed Look into the Broker
Tickmill Scam or Legitimate
Want to become a trader? There are lots of people who aspire to be trader nowadays because doing so enables them to have flexible routines, be their own boss and earn as much as they like. Since online trading has become the norm, it has become easier than ever for anyone to fulfill their desire to become a trader. The only thing they need, along with some capital, is a good broker. Sure, you can easily find thousands of broker, but not all of them can be classified as good. There are only a handful of brokers who can be deemed good and others are either scam or simply unregulated and untrustworthy.
One of the brokers that will pop up again and again is none other than Tickmill. Having its headquarters in London, United Kingdom, Tickmill is an international broker for trading in the forex market and other CFDs. But, is Tickmill scam or legitimate? This is the top question that any potential trader should ask in order to ensure they don’t fall into a trap. Tickmill has been around for more than a few years and it has proven itself as a professional brokerage. The broker also has its branches in Seychelles and Cyprus.
But, how do you determine if it is a scam or not? The best way to do so is to weigh the different features that Tickmill provides and judge it accordingly. Read on to know some important facts about the broker.
Is Tickmill a Regulated Broker?
In case of Tickmill scam, it would be a given that the broker would be unregulated as they wouldn’t be able to fulfill the criteria to qualify for regulation. Licenses and regulations are important in the eye of traders because they can help create a trusting relationship. To be regulated, a broker has to meet a certain criteria and if they violate a policy, they can lose their license. There is no such thing as Tickmill scam because it is a fully regulated broker and is, in fact, regulated by multiple organizations.
The broker is regulated by the FCA in UK, CySEC in Cyprus and the FSA in Seychelles. This is an assurance that there is no Tickmill scam because if there was, then the broker wouldn’t have been regulated by such reputable organizations.
What kind of Safety of Funds is Available?
You need a trusted broker who can provide safety of funds and not put your hard-earned money at risk. When it comes to trading online, finding a trustworthy broker is of the utmost importance. A number of small brokers who don’t have proper license and experience often don’t handle money properly. If you don’t want to deal with such a fraud, then you need to pay attention to this particular factor in broker selection.
There is no need to worry about Tickmill scam because the broker ensures that client funds remain safe and keeps them separate from corporate funds to make management easier. The broker deposits the funds with Barclays Bank, since it is international and can provide liquidity to the broker. Moreover, in the event that Tickmill goes bankrupt or faces any financial issues, clients don’t have to worry about their investment. Tickmill is a member of the Financial Services Compensation Scheme (FCSC), which protects clients for up to £75,000.
This can easily clear any doubts that traders may have about Tickmill scam because there is a guarantee that your funds will be returned and you will not have to worry about losing them due to the broker’s mistakes.
What Trading Conditions are Provided?
Tickmill is not a market maker and is actually an NDD (Non-Dealing Desk) broker with renowned liquidity providers. This means there is no conflict of interest between the trader and the broker. It gives its clients access to more than 84 financial instruments for trading and is constantly trying to expand its offerings and has integrated newer assets, such as Bitcoin to its trading platform. Apart from that, Tickmill provides traders with the opportunity of trading currencies in the forex market and CFDs (Contract for Difference) for government bonds, commodities or stock indices.
When it comes to the trading conditions, Tickmill is offering low commissions and tight spreads. The commissions fall as your deposits rise and there are absolutely no requotes. This allows you to open and close trading positions for the next best market price. Traders can also enjoy fast executions that work in their favor and maximum leverage of 1:500.
Which Trading Platform can be Found?
Another indication that there is no Tickmill scam is the fact that the broker offers its clients the option of using the MetaTrader 4 trading platform. This is a worldwide and proven trading platform for professional and private traders. It is available for the browser (Web), desktop (download) as well as mobile apps for iOS and Android. The MetaTrader allows you to access the markets easily and flexibly from anywhere around the world. It is the ideal platform for any trader who wants to make significant returns in the market. It also boasts free indicators, numerous analysis tools as well as automated trading.
What Accounts can be Opened?
There are a total of three account options that Tickmill offers to its clients, which are Classic, Pro and VIP. Along with these accounts, the broker has also incorporated a demo account for customers. If there was any Tickmill scam, a demo account wouldn’t be available as it could be used to identify the scam. It is a great way for traders to get in some practice and understand the broker’s offerings. The minimum deposit for the Classic account is $100 and the features in every account are different, meant for varying kind of traders.
Considering all the features outlined above, it can be safely stated that there is no Tickmill scam. Instead, it is one of the best brokers that traders can opt for if they want to trade forex currencies or want to participate in CFD trading.