So, you are trading with TickMill?
Excellent. Once you have checked out our TickMill review for a full overview, you will know a lot about the broker.
Here we dig deeper into the various TickMill account types you can expect to find, and examine the features of each one in detail. If you are considering which account type to choose, then this guide should be a great help in making the best choice.
Let’s take a closer look.
Table of Content
TickMill Account Types
You can expect to find the following different account types available with Tickmill.
TickMill Demo Account
The TickMill demo account is a wonderful place to start if you are a new trader, or simply new to the broker. You will be able to trade here with no risk in conditions that replicate real trading. Using virtual funds, you can also get to know about all the features on offer.
The demo account is unlimited until you open a live account. It can be recharged through contact with the broker support team, and once you open a live account, you will have 14-days left on your demo account. Visit the Tickmill website to open a free demo account (79% of retail CFD accounts lose money).
TickMill Pro Account
The TickMill Pro account is the first we will look at. Here you will find a minimum deposit of $100 and very competitive spreads from 0 pips. The commission is also highly competitive and is just $2 per side on each lot traded.
The minimum trade size here is still very accessible at 0.01 lots and you will have more than 80 assets in total to choose from. This selection includes 62 forex currency pairs overall. The base currencies supported are the USD, EUR, GBP, and PLN (PLN may not be available for all clients, so you should check with the broker first).
TickMill Classic Account
The TickMill Classic Account is another very popular choice among traders. As with the pro account, you will find a $100 minimum deposit here. Spreads are slightly higher on this account type starting at 1.6 pips, though they do not charge any commission.
Again you will have access to all 80+ assets the broker makes available, and the same excellent range of 62 currency pairs with an accessible minimum trade size of 0.01 lots. The base currencies supported on this account too are the USD, EUR, GBP, and PLN depending on your location.
TickMill Vip Account
The TickMill VIP Account is available if you are more experienced or trading in larger amounts. You must keep a minimum balance of $50,000 to have this type of account. The spread here starts from an equally favorable 0 pips and the commission is lower from only $1 per side per lot traded.
You will have full access to the available assets including more than 80 assets in total, 62 of which are currency pairs. The minimum number of lots you can trade is 0.01 with the USD, EUR, GBP, and PLN again all available as base currencies depending on your location.
TickMill Futures Account
This TickMill Futures account is available to UK traders only at the moment. Here you can trade in a total of 54 futures and 6 options. The commission is attractive starting from just $0.85 per contract, and the minimum deposit is $1,000.
With this type of account, you will be glad to note that the minimum fee amount starts from rock bottom at $0, while the lowest amount you can trade is 1 contract.
TickMill Islamic Account
Any type of TickMill account can be opened as an Islamic account if you require one. This includes the classic, Pro, and VIP account types. These accounts are completely Shariah Law compliant and there are no swap fees charged at all.
If you do hold any position for more than three consecutive nights, then you will incur a holding fee. The fee depends on the asset but starts from $0.01 on oil, and $5 on forex positions.
TickMill Professional Account
There is a TickMIll Professional account available to traders from the UK or EU. If you wish to qualify as a professional trader, you must meet at least two of the following criteria:
- Have completed transactions of significant size, at least 10 trades per quarter over the previous four quarters
- The size of your financial instrument portfolio surpasses €500,000
- You work or have worked in the financial sector for at least one year in a professional position
As a professional trader, you can benefit from having a higher amount of leverage of up to 1:500 on forex, 1:300 if you are in the EU. You will also still have access to your negative balance protection, and the services of the Financial Ombudsman if you should need them.
TickMill MAM Account
The final account type we will look at is the TickMill MAM account. With this type of account, you can engage in account management and asset management for others. There is a $5,000 minimum deposit here and you can allocate with two methods (proportion by balance and proportion by equity).
The minimum trade size you will be able to make here is also 0.01 lots and with that, you can have an unlimited number of sub-accounts and access to a full range of assets. You will also be able to engage the EAs feature of the trading platform if you need to.
TickMill Account Opening
Here is a closer look at the key choices and steps when opening your account with TickMill.
Live Account Opening
Opening a live TickMill account is very straightforward. All you need to do is head over to their website and have ready some proof of identity and residence to verify your account before making your deposit.
Before opening a live account, you should take time to open a demo account to test your strategies and get to know the broker (79% of retail CFD accounts lose money).
The account verification process is very swift. As mentioned, you will need your ID or passport, along with a utility bill or bank statement. These documents can then be electronically uploaded and usually are approved very quickly.
In the unlikely event of a delay or problem, the broker will contact you. Once you have verified your account you will receive an email with all of the details you need.
There are many ways to fund your TickMill account. These include all of the following based on your location. Bank Transfer, Credit/Debit Cards (Visa, Mastercard), Skrill, Neteller, DotPay, PaySafe, Sofort, Rapid, WebMoney, and UnionPay. Other local methods may also be available based on your location.
As the most used eWallet, we have put together a PayPal forex brokers top ten you should check out for more information.
TickMill Account Deposit & Withdrawal
When it comes to deposits and withdrawals, no fees are charged by the broker. The only exception here is with bank wire transfers, though if you deposit more than $5,000 your fees will be covered.
A conversion fee may also apply if you deposit a non-base currency, while deposits are typically processed instantly. Withdrawals can take a little longer but are still processed within one working day.
The minimum deposit with TickMill will depend on your account type. With that said, it is generally $100. This is the case for both pro and classic accounts.
For more information, you can check out our TickMill minimum deposit guide.
As mentioned above, TickMill allows for EUR, GBP, USD and PLN to be used as a base currency though PLN may not be available to everyone depending on your location.
If you are outside the UK and EU, then you can get a $30 welcome bonus with no deposit needed. This bonus is not available to existing clients.
You can learn more about bonuses and promotions by checking our best forex broker promotions guide.
TickMill Account Management
Here are a couple of key points you may encounter when it comes to your account management.
TickMill Account Inactivity
If you are in the UK and your account is inactive with a balance of zero for 12 months or more, then it will be archived. UK accounts with balances equal to or less than GBP 10, USD 10, EUR 10 and PLN 25 will be charged an equivalent fee and be closed/archived.
For other traders, your account will be archived if the balance is below or equal to 10 USD and there is no login made for 90 days.
TickMill Account Reactivation
If you would like to reactivate an archived account, then you will need to contact the broker support team to find a solution.
TickMill Account Types FAQS
Is Tickmill a STP broker?
TickMill is an NDD broker, with a hybrid model which combines the best of both market-making and STP execution styles.
What is a TickMill Classic Account?
It’s one of the account types offered by TickMill. It has great features, such as a $100 minimum deposit and 80+ assets to trade. Spreads are competitive, but a little higher when compared to those offered by TickMill Pro and Vip Account.
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