Does Tickmill allow scalping?
The aim of scalping is to make small, but frequent gains from rising and falling asset prices.
Traders who wish to scalp successfully need a broker with tight spreads, low commissions, and fast execution times, as well as other important metrics. Because of this, optimal brokerage conditions are necessary for scalping trading.
Ultimately, scalping's aim is to make minute profits - with trades lasting just a few minutes.
In this article, we talk about one of the best forex brokers that’s ideal for scalpers and other high-volume trading strategies.
What Are The Trading Restrictions on Tickmill?
Tickmill has no restrictions on trading and no requotes. The Tickmill platform allows traders to use almost any trading strategy, including scalping, making it a great tool for day trading and EA trading. As a result, scalpers and hedgers can use the platform to practice their strategies.
Below are the trading conditions on Tickmill:
There are spreads starting at 0.0 pips
Execution speed on average is 0.1 seconds
There are no commission fees on Classic accounts
All trading accounts come with a swap-free option
There are no requotes, delays, or interventions
Trading strategies of all kinds are allowed
Tickmill Execution Speed, Fees, and Spreads
Tickmill spreads start at 0 pips for some currency pairs. Spreads are measured in pips (fractions of a currency) as the difference between bid and ask prices. In cases where your trading strategy requires low spreads or if you simply want to minimize your trading costs, zero spreads might be a good idea.
In order to be profitable with a scalping strategy or other high-frequency trading program relying solely on latency, or price delays that cause arbitrage, you will need to have lower costs (i.e., cost-sensitive). This is why low spreads are highly beneficial for scalpers.
There is a commission of $2.00 per lot per trade for the Tickmill Pro Account. For the currency pair EURUSD, the average spread cost is 0.2 pips during peak trading hours. You can see from this example that Tickmill does not earn money from the spread, but instead from additional commissions. Therefore, if you trade 1 lot, you'll pay a $2 commission to open or close a trade. In this example, the fee is $4. With the VIP account, however, you pay fewer fees since the commission is only $1 per lot per trade.
You won't be charged for non-trading activity on your trading account with Tickmill.
There are a variety of non-trading fees and charges at Tickmill that are not related to buying and selling assets. Fees for withdrawals, deposits, inactivity, and account maintenance are some examples of non-trading fees. So, you won’t have to worry about these fees when you trade with Tickmill.
Using Tickmill's deposit and withdrawal methods won't cost you any transfer fees, but intermediary banks and eWallets may charge you, which is out of their control.
Tickmill Bonus - How to Get No Deposit Bonus $30Comparison of Scalping Conditions at Tickmill and Its Competitors
Below, we compare the different commissions and spreads of different forex brokers. Based on September 2021 data using the EUR/USD pair on its Pro account offering, Tickmill stands out as having the lowest spread. Its overall trading cost (spread + commission) is 0.47 pips, which is the lowest on average. Some brokers advertise a lower spread, but charge higher commissions or have wider average spreads, so they end up being more expensive.
| XM | Tickmill | Pepperstone | |
|---|---|---|---|
| Average commission | $3.5 per lot | Pro Account: $2 per lot VIP Account: $1 per lot |
$3.5 per lot |
| EURUSD average spread | 1.7 pips | 0.07 pips | 0.09 pips |
FAQ
Is Tickmill a good Forex broker?
As a result of its wide selection of currency pairs, deep liquidity, low trading costs, upgraded MT4/MT5 trading platforms, and quality trading tools, Tickmill is among the most competitive brokers.
Is Tickmill an ECN or STP broker?
As one of the most attractive features for retail brokerage clients, Tickmill offers spreads starting at zero pips, a transparent ECN platform with full STP and DMA, allowing scalping and a wide range of trading instruments, including 64 currency pairs, CFDs, precious metals, and commodities.
How many pips should I use for scalping?
During the course of the day, scalpers try to make trades that are between five and ten pips in size, repeating this process constantly. A pip is short for "percentage in point" and is the smallest change in exchange price.
Is ECN good for scalping?
In addition to having tighter spreads than other types of brokers, an ECN broker offers a platform that displays prices directly from official sources, which allows scalpers to trade immediately. Therefore, scalping within an ECN account tends to result in lower fees and commissions along with instant confirmations, allowing trade orders to be executed quickly and profits to be calculated easily.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.