Exness Review
Tickmill Account Types
Overall, Tickmill is very competitive in terms of its trading fees and spreads. Tickmill offers three retail investor accounts as well as demo and Islamic accounts. Tickmill has a trust score of 82% out of 100. Tickmill is currently not regulated by the MFED, BoB, or NBFIRA of Botswana
- Louis Schoeman
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.7/5
Min Deposit
$100 / 1 343 BWP
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Account Types – 10 key points quick overview:
Tickmill Overview
👉 Overall, Tickmill is considered low-risk, with an overall Trust Score of 82 out of 100. Tickmill is licensed by one Tier-1 regulator (high trust), two Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). Tickmill offers three retail trading accounts: a Pro Account, Classic Account, and a VIP Account.
👉 Tickmill, which debuted in 2014, provides traders with a diverse suite of online trading services to promote education and enhance user functionality.
👉 Tickmill was established by a group of professionals committed to putting their client’s needs first. Tickmill’s two commission-based accounts have industry-low costs and zero-pip EUR/USD spreads, making them a top choice for traders.
👉 There is also the option of opening a no-fee “basic” account, with EUR/USD spreads starting at 1.6 pips. Experienced traders will appreciate the wide range of currency pairs accessible, in addition to the educational resources and market data.
👉 Tickmill has received several awards for the quality of its services and is well known for its low prices. In addition to stocks, CFDs, bonds, precious metals, and indices, Tickmill users can trade more than 85 instruments, most of which are currency pairs.
👉 Tickmill is an international exchange for trading foreign currency, CFDs, stocks, and cryptocurrencies. International traders flock to Tickmill. In addition to regular trading, demo, and social trading, Tickmill also allows duplicate trading.
👉 With the No Dealing Desk (NDD) execution model, there are no requotes, and all transactions are managed automatically, ensuring maximum transparency.
👉 Most people in Botswana prefer to work with an NDD brokerage since there is no potential for a conflict of interest between the broker and the client.
👉 Assuming a trading desk, they could set their own prices and take the opposite side of the trade. Instead, Tickmill draws its liquidity from the world’s most prestigious banks and hedge funds. The liquidity pool is the sum of all this cash on hand.
👉 Your transaction will be executed at the best price in the liquidity pool. The more a broker’s liquidity, its prices might be competitive. High liquidity also improves execution times and spreads. All orders are settled instantly via direct quotes with liquidity providers.
👉 Tickmill has clients from around the world, and these areas have the largest distributions:
➡️ Poland – 13.5%
➡️ Vietnam – 12.9%
➡️ Tanzania – 11%
➡️ Malaysia – 5.5%
➡️ Qatar – 5.1%
Tickmill At a Glance
| 🏛️ Headquartered | London, United Kingdom |
| 🏛️ Botswanan Based Office | No |
| 👍 Accepts Botswanan Traders? | Yes |
| 📅 Year Founded | 2015 |
| 📱 Botswanan Office Contact Number | None |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 🔎License Number | Seychelles – SD008 United Kingdom – 717270 Cyprus – 278/15 Labuan – MB/18/0028 South Africa – FSP 49464 |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 3 |
| 🚀 Offers a Botswanan Account? | No |
| 💻 Dedicated Botswanan Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📈 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (₦) | 41,600 Botswanan Naira equivalent to $100 |
| 💳 Botswanan Naira Deposits Allowed? | No, only USD, GBP, EUR, IDR, CNY, VND, RUB |
| 💰 Active Botswanan Trader Stats | 1.3 million |
| Active Botswanan-based Tickmill customers | Not known |
| 💰 Botswana Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Bank Transfer Debit Card Credit Card Skrill Neteller Sticpay Fasapay UnionPay Nganluong QIWI WebMoney |
| 💰 Segregated Accounts with Botswanan Banks? | No |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💰 Tradable Assets | Forex Stock Indices Oil Precious Metals Bonds Cryptocurrencies |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 📈 Offers Botswanan Stocks and CFDs | No |
| 👨💼 Languages supported on Website | English, Indonesian, Russian, Arabic, Italian, Thai, Vietnamese, German, Chinese (Simplified), Spanish, Polish, Korean, Malay, Portuguese |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/5 |
| 👥 Botswanan-based customer support? | No |
| 💰 Bonuses and Promotions for Botswanans | Yes |
| ✴️Education for Botswanan beginners | Yes |
| 📊 Proprietary trading software | No |
| 💰 Most Successful Botswanan Trader | Uche Paragon ($20 million net worth) |
| ✔️Is Tickmill a safe broker for Botswanans? | Yes |
| ✔️Rating for Tickmill Botswana | 9/10 |
| ✔️Trust score for Tickmill Botswana | 81% |
Tickmill Account Types
👉 Tickmill offers three distinct account types for trading FX and CFDs using the no-dealing desk and ECN pricing model. In addition, there are Pro, Classic, and VIP accounts available. Each account type is ideal for a certain degree of trading expertise.
👉 Each account is tailored to the requirements of both rookie and seasoned traders. In addition, swap-free Islamic accounts are a useful feature that allows even more traders to utilize the company’s services.
👉 Botswanan traders can choose from these retail accounts:
➡️ Pro Account
➡️ Classic Account
➡️ VIP Account
Tickmill Account Features
Pro Account
👉 Gaining a competitive edge in pricing and spreads is possible with the Pro Account. The low commission rate offered by Pro is favoured by many forex traders on the moderated forum. Traders who often use Tickmill may choose from three different discount packages.
👉 This offer is quite generous, with a minimum monthly discount of $0.25 per standard and a maximum monthly discount of $1,000 per micro-lot. In addition, third-tier traders, those who transact above 3,000 standard lots per month, get a $0.75 per lot discount package.
👉 In contrast to the standard account, the Pro Account includes these excellent benefits:
| Account Feature | Value |
|---|---|
| 💳 Minimum Deposit | 41,600 Botswanan Naira or equivalent to $100 |
| 💳 Minimum Account Balance | None |
| 🔎 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 0.0 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📊 Minimum Lots that can be traded | 0.01 lots |
| 📈 Commission charges | $2 per side per standard lot of 100,000 |
| ✴️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
Classic Account
👉 Trades made via a trader’s traditional account on Tickmill’s website incur no commission fees; rather, the trader pays the spread cost between the ask price and the bid price.
👉 Since the average spread is higher on the Classic account on the Tickmill website, it is not favoured by new or experienced traders.
| Account Feature | Value |
|---|---|
| 💳 Minimum Deposit | 41,600 Botswanan Naira or equivalent to $100 |
| 💳 Minimum Account Balance | None |
| 🔎 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 1.6 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📊 Minimum Lots that can be traded | 0.01 lots |
| 📈 Commission charges | None |
| ✴️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
VIP Account
👉 Botswanans who want access to the VIP Account must be high-volume traders invited to sign up.
👉 An initial deposit of USD 50,000 is required to open this premium trading account. Considering this, a seasoned trader rather than a novice might profit from utilizing this trading account.
👉 With a reduced price of 2 USD (round turn) per lot and spreads of 0.0 pips on popular instruments like the EUR/USD, this account is among the lowest-cost accounts in the industry.
| Account Feature | Value |
|---|---|
| 💳 Minimum Deposit | None |
| 💳 Minimum Account Balance | 20,810,000 Botswanan Naira equivalent to $50,000 |
| 🔎 Base Currency Options | USD, EUR, and GBP |
| 📊 Spreads From | 0.0 pips |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📊 Minimum Lots that can be traded | 0.01 lots |
| 📈 Commission charges | $1 per side per standard lot of 100,000 |
| ✴️ Strategies Allowed | Scalping, hedging, expert advisors, algorithmic trading, auto trading, etc. |
| ☪️ Swap-Free Islamic Account Option | Yes |
Tickmill Demo Account
👉 Tickmill provides demo accounts for both forex and CFD trading. Using a practice account, you may test the MT4 and MT 5 platforms, experiment with new trading strategies and examine additional features.
👉 The demo account provided by Tickmill enables traders to imitate real-world market conditions, test tools and trading tactics and refine their skills without risking any capital.
👉 Tickmill’s trading platforms are replete with tools and features that may be customized to increase overall trading performance.
👉 Botswanans can easily open a demo account using Tickmill’s website. The demo account also has abundant historical market data that might prove useful for experienced traders.
AvaTrade Islamic Account
👉 Muslims adhering to Sharia law may profit from an Islamic Account since it is tailored to meet their specific requirements. The Sharia prohibits the payment of interest, including overnight fees, since its believers see it as wasteful or exploitative.
👉 This kind of account exempts traders from overnight fees or interest if they hold positions open for a long time after the trading day has finished. Using the Islamic Account option on AvaTrade, Muslim traders can trade without paying extra fees or interest charges.
👉 This account is comparable to the normal account with the exception that it does not support cryptocurrencies and Rollovers are limited to specific exotic FX pairings.
👉 The following are additional features of an AvaTrade Islamic account:
➡️ Halal Gold and Silver Trading
➡️ Halal Oil Trading
➡️ Halal Indices Trading
Overall Rating
- 4.7/5
Min Deposit
$100 / 1 343 BWP
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill Islamic Account
👉 According to Tickmill, customer interests are of the utmost importance. Therefore, the broker strives to satisfy the trading expectations and needs of customers from across the globe.
👉 With a Forex Islamic account, overnight holdings incur no swaps or rollover interest costs, which Islam prohibits. As a result, all Muslim customers who convert a Classic, Pro, or VIP account to an Islamic account will have access to Tickmill’s most advantageous trading conditions.
👉 Islamic trading accounts are subject to the same requirements as conventional trading accounts. Except for trading instruments, which do not include swaps, overnight storage of many complex instruments for more than three nights incurs a handling fee.
👉 Once the Tickmill Customer Support team has processed your request for Islamic account status, you will get an email confirmation. Tickmill will automatically classify any future trading accounts you establish as swap-free, eliminating the need for traders to contact Tickmill.
Tickmill Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| The trading platforms are robust and user-friendly | United States Clients cannot register with Tickmill |
| There are three dynamic Tickmill accounts offered, featuring competitive spreads and a commission-free classic account | There are no fixed spread accounts offered |
| Tickmill is well regulated in several regions with a proven track record of excellent trading services | Currency conversion fees may be deducted |
| There are flexible funding options provided including Skrill, Neteller, bank wire transfer, and others | The spreads are not the tightest |
| Traders are given access to AutoChartist, VPS, and FIX API trading | |
| There are industry standard initial deposits required to register an account | |
| There is a commission-free trading account offered and the minimum balance amounts are reasonable | |
| Negative balance protection is applied to retail accounts | |
| There is no deposit fee or withdrawal fee charged | |
| Educational videos and other educational resources are available | |
| Retail traders have access to several tools to help them navigate complex instruments | |
| Social trading opportunities are provided |
Verdict on Tickmill
👉 Overall, Tickmill is very competitive in terms of its trading fees and spreads.
FAQ
How can I register a Tickmill Account?
You can visit the official Tickmill website and select the option to register a real account. Once the form is complete, you must provide proof of your identity and residential address.
Once the details have been confirmed, your account will be approved, and you can deposit funds to start trading.
Does Tickmill have an Islamic Account?
Tickmill offers an Islamic Swap-Free account to Muslim traders who follow Sharia Law.
Which Tickmill account type should Botswanans use?
Tickmill has three distinct account types: Classic, Pro, and VIP. Each account is tailored to the requirements and goals of various traders, including novices, experienced traders, professionals, scalpers, algorithmic traders, and aggressive traders.
What does it cost to register a Tickmill account?
You must pay a minimum deposit of 100 USD / 1,200 BWP when registering an account with Tickmill.
What does Tickmill’s withdrawal process involve?
You could log in to your account to examine the possible withdrawal ways proportionate to the deposit method you used, choose one, input the amount you want to withdraw, and finish the procedure by following the on-screen instructions based on your payment provider or bank.
