The InvestinGoal team will explain everything you should know about a TickMill demo account, how to open it and the features provided.
We have taken time to study closely the demo account TickMill offers their traders.
Main features of the Tickmill demo account:
- 14-days trial
- Free to open
- Easy to open
- Good range of trading platforms to try
|Tickmill demo account
|Unlimited / 14 days after you open a live account
|MT4, MT5, CQG
|Virtual money amount
79% of retail CFD accounts lose money
TickMill demo account opening tutorial: step by step procedure
Below is a complete tutorial on how you can open and get started using your Tickmill demo account step-by-step.
Step 1: visit the TickMill’s website
Once you visit the Tickmill website click on the “demo account” button on the top-right corner.
79% of retail CFD accounts lose money
Step 2: fill the registration form
The registration form requires basic details like your name, email, phone number, and country of residence.
UK traders can also open a Futures demo account. Simply select your desired account type when going through the process.
Step 3: customize the demo account
In the same form you will also select your trading platform, account type, leverage, and virtual deposit amount.
At this point, you will also select if you are joining as a retail or professional trader, and finally, agree to the terms and conditions of the demo account.
This entire process should only take a few minutes to be completed
Step 4: verify your profile
With the registration form complete you will receive an instant email that you can click to activate the account. This email will also include your account details and a link to download the MetaTrader 4 platform.
Step 5: login into the demo account
You will now be all set to log in to your Tickmill demo account for the first time. All you will need are the details you used to sign up. This means your username and password. Once you have logged in, you can start trading.
The last thing you will have to do with your demo account is to choose the trading platform. As an EU or UK trader, you can choose MT4 or MT5. Both are available as desktop, webtrader, or on mobile app. The desktop version can be downloaded directly from your registration email link as mentioned above.
For UK traders there is also the CGQ platform if you have selected a demo futures account. For all other traders, the only platform available is MT4.
TickMill’s demo account features
Opening a demo with TickMill is pretty much effortless. A valid phone number and email address is all you need.
Unlimited demo account duration. For UK clients, the futures demo duration is unlimited until you open a live account, after that the demo trial lasts 14 days. Anyway you can extend it for another period by contacting the broker.
You can open up to 7 demo accounts with the same email address and there are 80+ tradable markets alongside a customizable virtual balance. Both MT4 and MT5 platforms are available.
UK traders have also access to the CQG for the Future accounts. Educational materials, including video tutorials to speed up your learning are also provided.
Differences between live and demo TickMill accounts
Tickmill has made three demo account types available. The Pro, Classic, and Vip accounts. For UK traders there is also the Demo Futures account.
The main difference you’ll find between a demo and a live account is Slippage. This term refers to the difference between your price’s initial order request and the actual order’s execution price. This happens in live accounts due to the nature of the volatility of prices.
The Tickmill CFD demo account is unlimited. The same unlimited trial goes with the Futures demo for UK traders, but until you open a live account. If you open a live account you have 14 more days until your demo account expires.However, you can contact the support team to extend the time or to open a new one.
For live accounts, UK clients who are inactive for 12 months and have a $0 balance will have their account archived. For other clients, the account will be archived if there is an inactivity of 90+ days and a balance of $10 or less.
How to switch to a live account
When switching to a live account, the CFD demo will stay unlimited while the Futures demo will be available for 14 days after you’ve opened a live account.
To open a live account you will have to provide proof of your identity (Passport, ID, or Driver’s License) and proof of your residence (utility bill or bank statement) on the broker’s website. Depending on the country, you may get asked to fill out a questionnaire about your trading experience.
As soon as your account gets verified, you will be able to proceed with your $100 Tickmill minimum deposit in order to start trading.
How to best use your TickMill demo account
Here is a look at some helpful tips on getting the best from your TickMill demo account.
- Set up your Tickmill demo account as you would set up a real account with platform, account currency, balance, account type and leverage
- Do not open large positions if you are not planning to trade with large amounts of money
- Treat money as if it were real, just like you were in a live environment
- Practice daily
- Tickmill provides educational tools for their traders. Ensure to use these materials
Pros and cons of the TickMill demo account
- Easy to open
- Highly customizable
- Only 14-days after having opened a live account
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