While scalping can be extremely profitable when performed the right way, there are many factors you need to combine: sufficient experience, a deep understanding of the asset you’re trading, and a great deal of self-control. However, it’s even more important to find a suitable broker that provides favorable conditions for scalpers. Tickmill is often mentioned as such a broker, but is it really that suitable? Let’s analyze its conditions and find out whether it should be used for scalping.
Tickmill overview
Tickmill is a reputable and technologically advanced broker that’s mostly known for its quick execution of orders and tight spreads, and these factors are already pretty attractive for scalpers. Tickmill is very well-regulated: its transactions are monitored by both FCA and CySEC, so it is pretty transparent and secure. While the broker seems to be especially popular in Asia, you can sign up and trade from just about any country in the world.
When it comes to basic trading conditions, Tickmill also seems to be pretty favorable. The deposit you need to start trading is just $100, and you can use leverage rates of up to 1:500. This is definitely nice for scalpers who often try to use leverage to the fullest in order to reduce the level of collateral. There are no cent accounts and no crypto options, but the broker offers you more than 60 currency pairs to choose from, and that should be enough for every Forex scalper.
How scalping works
Basically, scalping is a trading strategy when you open many short-term positions to earn profits from the tiniest movements of the market. Tickmill scalping features seem to be pretty interesting because scalpers need tight spreads, instant execution, and a convenient trading platform to stay profitable in the long term. Scalping requires that you hold a position open for just several minutes and then close it to earn several pips. You should repeat such operations all the time to earn substantial profits.
Tickmill for scalpers
The broker has no restrictions on trading, and its spreads start from zero pips. The execution speed is about 100 milliseconds on average. While that’s not the best value on the market, it’s enough to make scalping possible. There are no trading commissions on Classic accounts, and there are also no fees for deposits or withdrawals. All in all, Tickmill seems pretty suitable for scalping.