Is it possible to archive an account that is not in use?
No, it is not possible to archive an account. If the account balance is 10 USD or less and there were no login attempts made for 90 days, then it will be automatically archived by the system and it will no longer be visible in the Client Area.
When are swaps charged at a triple rate for currency pairs and metals?
Triple swap charges apply for positions on FX pairs, Silver and Gold that are held overnight on Wednesday. For the rest of the instruments, triple swap charges apply for positions that are held overnight on Friday. This is a standard practice in the forex industry.
These swaps cover the interest for Saturday and Sunday when the markets are closed. All swaps are calculated based on the quote currency.
If you open a long position of 1 lot on EURAUD, the overnight swap charge would be -14.11 Australian Dollars. If you had opened the same position on a Wednesday and roll over the position to the next day, the swap would be -14.11 * 3.
If the account currency is in USD, then we have to convert the amount above to USD by using AUDUSD spot rate.
Where can I check the SWAP rates?
We update the swaps based on the rates given to us by our counterparties and we recommend checking the swap rates on a regular basis within the MT4 platform. Our updated swaps are always available on our website: https://www.tickmill.co.uk/instruments/forex/
You can also check the swap rates by logging into the MT4 trading platform and select: View > Symbols > Select instrument > Properties
There are two types of positions: buy and sell. You must look at the Financing long for swaps for buy positions and at the Financing short for swaps for sell positions. Swaps are charged at 00:00 platform time.
Can the account be closed/deleted?
You can close an account but we will keep your data, in accordance with legislation, on our files for a minimum period of 7 years.
If your account balance is 10 USD or less and there are no login attempts made for 90 days, then it will be automatically archived by the system and it will no longer be visible in the Client Area.
What account types do you offer?
We offer 3 account types: Classic, Pro and VIP. All accounts have the same execution speed.
Their differences are:
The Pro and VIP accounts start at 0.0 pips, whereas the Classic account starts at 1.6 pips.
*There is no commission on the Classic account.
*There is a commission of 2 per side per lot (0.0020% notional) on the Pro account in the base currency of the trading instrument. Example: If you trade 1 lot of EURUSD, which has a contract size of 100,000 EUR, then your commission per side would be 2 EUR and 4 EUR round turn.
*There is a commission of 1 per side per lot (0.0010% notional) on the VIP account in the base currency of the trading instrument. Example: If you trade 1 lot of EURUSD, which has a contract size of 100,000 EUR, then your commission per side would be 1 EUR and 2 EUR round turn.
The minimum deposit for the Pro and Classic account is: 100 USD/EUR/ GBP/PLN.
The minimum deposit for the VIP account is 50,000 USD/EUR/ GBP/PLN.
You can find out more information about our account types at: https://www.tickmill.co.uk/accounts/
What are the requirements to register for a Client Area?
To register for an individual Client Area, you must submit your Proof of Address (POA) and Proof of Identity (POI) documents, whereas to register for a Corporate Client Area, you must submit:
1. Articles of association, identification document and proof of individual and corporate address.
2. Certificate of incorporation or company registration card (must show the address, legal representatives, registration data).
We may ask for additional documents depending on the country, beneficiary etc. (offshore:).
1. Certificate of incorporation
2. Articles of association
3. Memorandum of understanding
4. Certificate of good standing
5. Certificate of incumbency/ Register of Members
6. The last full year’s audited accounts
Can I have a demo and live account working at the same time?
Yes. In order to do so, install an MT4 platform in different folders on your computer for each of your trading accounts.
Can I change the balance of my demo account?
Yes. Simply send an email with your demo account number and decided balance to our Support team.
Are trading conditions the same on my demo and live account?
Yes, the trading conditions are the same. However, no slippage occurs on the demo account.
Can I change the settings of my demo account?
Yes. Simply send an email with your demo account number and decided changes to our Support team.
Will my funds be protected at Tickmill?
Tickmill UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA) of the United Kingdom and is required to segregate retail client funds from the company’s own funds.
As a member of the Financial Services Compensation Scheme (FSCS) in the UK, all clients of Tickmill UK Ltd are covered in the event of default by Tickmill UK Ltd. Clients are covered up to the value of £50,000.00.
How do I open a MetaTrader 4 account?
You can open an account in the Client Area, efficiently and securely. Click here to open an account with us.
How do I modify or delete a trade in MT4 platform?
Right-click on the instrument you placed the trade with and use the options ‘Modify the trade’ or ‘Delete the trade’.
I forgot my MT4 password. What do I do?
I forgot my Client Area password. What do I do?
Where can I find my account balance and my trading history?
You can find your account balance and trading history in the MetaTrader 4 platform. The account balance can also be seen in your Client Area.