Tickmill account types comparison – which one is the best?
Table of Contents
Tickmill is a popular Forex Broker and many traders want to open an account with this trading company but which Tickmill account type is the best? – On this website, you will find our professional comparison by experienced traders. In the following sections, we will calculate the trading fees and commissions for you and tell you which is the best account type.
Get 5% spread rebate with the code: IB60353132
(Risk warning: Your capital can be at risk)
Get 5% spread rebate with the code: IBU13836682
(Risk warning: Your capital can be at risk)
Which is the best account type of Tickmill?
Tickmill is offering 4 different account types. First of all, everyone can create a free demo account for tests and practice on the trading platform. The demo account is filled up with virtual money and is totally free. You do not risk any real money. For all traders who want to start with real money, the question is which is the best account type?
Tickmill is offering the following accounts:
- Free demo account
- Pro Account
- Classic Account
- VIP Account
Generally, the best account type is the VIP account but most traders do not invest $50,000 in their trading account. If you want to do this the VIP account is clearly the way to do it. Now the question is, should you open the classic account or the pro account. Both accounts can be opened with a minimum deposit of $100.
Pro Account vs. Classic Account
There is only one difference between these types of accounts: the trading fees.
Classic Account:
On the classic account, you are trading with a spread fee which is added to the normal trading price of an asset. It means that your position will be opened and you get a poorer execution of the trade on the price. The profit of the trade will be negative until the price overcomes the spread. In the classic account, a variable spread of 1.2 pips is added to the market (the spread is depending on the asset and market situation.
Pro Account:
The pro account gives you the direct market spread. It can be 0.0 pips depending on the market and situation. You will get the direct liquidity of the market and banks. Now Tickmill adds a commission to your trade. This is a fixed commission depending on your trading volume. For trading one lot (100.000) you will pay only a commission of 2 units per side.
Calculation: Which one is better for you?
Now we will do a trading fee calculation to show you which account type is better for you. In this example, we are using trade in the EUR/USD with the position size of 1 lot.
Classic account calculation:
The variable spread is 1.2 pips in the EUR/USD. By trading the EUR/USD with 1 lot the pip value by the price of 1.08962 is at the moment $10.
1.2 pips x $10 = $12 trading fee by opening and closing the position. That means a $24 overall fee for a finished trade with 1 lot.
Pro account calculation:
You only pay the trading fee of $2 by opening and closing the position. That means a $4 overall fee for a finished trade with 1 lot.
Get 5% spread rebate with the code: IB60353132
(Risk warning: Your capital can be at risk)
Get 5% spread rebate with the code: IBU13836682
(Risk warning: Your capital can be at risk)
Conclusion: The Pro Account is the best account
The pro account is clearly the best account for the trader because the fees are much lower. We wonder why Tickmill is offering the classic account. You should open the pro account to get the lowest fees. Also, compared with other brokers Tickmill is a very cheap broker. See the table below for all account details and with our IB code, you can get a 5% discount on all your trading commissions in the pro account.
PRO ACCOUNT: | CLASSIC ACCOUNT: | VIP ACCOUNT: | |
|---|---|---|---|
MIN. DEPOSIT: | 100 | 100 | – |
MIN. BALANCE: | – | – | – |
CURRENCY: | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP |
SPREADS FROM: | 0.0 pips | 1.6 pips | 0.0 pips |
MAX. LEVERAGE: | 1:500 | 1:500 | 1:500 |
MIN. LOTS: | 0.01 | 0.01 | 0.01 |
COMMISSIONS: | 2 units per side per 100,000 traded | no commissions | 1 units per side per 100,000 traded |
STRATEGIES: | All strategies allowed | All strategies allowed | All strategies allowed |
SWAP-FREE ISLAMIC ACCOUNT: | Yes | Yes | Yes |
Get a 5% rebate on the trading commissions of the Pro Account
As partners and IB of Tickmill, we talked to them and negotiated a 5% rebate for all our readers and customers. By using our code or link you will get a 5% rebate on the trading commissions. This means you are paying fewer trading fees on your trading account. By trading 1 lot you only pay a fee of $1.90. Overall, this can be a huge amount of rebate if you are trading high volumes over time.
Rebate codes:
- IBU13836682 for traders who are trading with the European regulation of Tickmill (UK)
- IB60353132 for traders who are trading with the Seychelles regulation of Tickmill (international)
Advantages of the Tickmill accounts
Tickmill is specialized in forex trading. The company is offering the lowest spreads and commissions for traders. On our comparison of Forex Brokers Tickmill is by far the cheapest broker. On most trading platforms you will pay double the fees you are paying with Tickmill.
In addition, all strategies are allowed. You can use algorithms and expert advisors (automated trading). The broker gives you the highest liquidity and fastest execution for trades. From our experience, there is no slippage even if you are using high volume in trades.
- Lowest trading fees compared to other brokers
- All strategies allowed
- Supports automated trading
- High liquidity
- No slippage
- Fast execution
Tickmill is one of the cheapest Forex Brokers. By using the pro account you are trading with very few trading fees. 
(5 / 5)
Trusted Broker Reviews
Experienced traders since 2013Get 5% spread rebate with the code: IB60353132
(Risk warning: Your capital can be at risk)
Get 5% spread rebate with the code: IBU13836682
(Risk warning: Your capital can be at risk)
FAQ – The most asked questions about Tickmill Account Types:
What are the different Tickmill account types?
Tickmill is a great trading platform that offers several account types to traders. Traders can choose one of the Tickmill account types depending on their trading convenience. Different account types have different features.
The features correspond to the trading requirements of a trader. Thus, if you are an advanced trader looking forward to trading on Tickmill, you can choose an account type with maximum features.
Which one of the Tickmill account types offers traders the lowest minimum deposit?
If traders need one of the Tickmill account types that offer you the lowest minimum deposit, you can choose the Pro or the Classic account type. These two account types allow you to begin trading by funding your trading account with only $100. So, you can start trading with a small amount. Besides, these account types support different currency types. You can fund and use Tickmill in your desired currency.
Which one of the Tickmill account types charges no commissions?
If you wish to trade on Tickmill without paying commissions, there is an option. Among the three Tickmill account types, traders can trade on the classic account type without paying any fees or commissions. Besides, they can use all the trading strategies on the classic account.
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Last Updated on January 27, 2023 by Arkady Müller
