In this article about the Forex broker Tickmill, we will talk about all the necessary steps for opening a demo account with this company. Demo accounts have virtual funds that can be used by the trader to invest in the markets without any risk. They also present exactly the same information and market prices in real-time as in real accounts.
The benefits of opening a practice demo account before a live account are significant (if used properly). Among these advantages we can highlight the following:
- Know the broker’s trading platform and services.
- Virtual funds for simulated trades.
- Know the assets, their prices and the spreads offered by the broker
- The novice trader can practice constantly and without restrictions to gain more experience without risking real money.
Tickmill is a broker that offers various types of Forex trading accounts for clients of different profiles.
- Islamic account (No Swap)
Each of these accounts has characteristics designed for various types of traders. They are trading accounts that adjust to various types of needs.
You can get more information about the company Tickmill and its brokerage services in the following guide about this broker: Review of Tickmill broker
Demo account opening process
The first thing to do is visit the official Tickmill page, there you can see the corresponding button to open a demo account.
When we click on the “Demo Account” button we are immediately redirected to the registration process, where we must fill out the corresponding form in order to open a Tickmill practice demo account.
Here, we must indicate the following data:
-Country of origin.
-Mobile phone number.
-Account type (These accounts emulate Tickmill’s real trading accounts.).
-The virtual deposit.
– Desired account leverage (1: 1 to 1: 500).
Once we complete the data in the demo account form, we must click on the “Open Demo Account” button.
Immediately, Tickmill opens the demo account, sends the information to the customer’s email, with the account access data. At the same time, it displays the following message:
The message we receive in our email is as follows:
In this message, Tickmill indicates the account details, including the number and password. In addition, the message includes a link to download the platform (Metatrader 4) and the server to connect to this software and start trading.
If you think you have gained enough experience practicing on a demo account, you can open a live account with Tickmill. For this, you can click on the “apply for a live account” link at the end of the message.
This brings us to the following page on the broker’s website:
Here we can enter our Secure Client Area if we already have a real account with Tickmill. Otherwise, we can register and open a real account with this broker by clicking on the “Open Account” tab, which leads us to the following form where we can start the registration process.
In another article, we will explain how to complete this process.
Tickmill Demo Account Features
It is the amount of virtual funds required to start the demo account. These funds are necessary to be able to place simulated orders. For example, we can trade with a simulated deposit of $10000. It is recommended to use a number of virtual funds similar to the amount of real funds that we are going to deposit.
In the Tickmill demo account, we can test the characteristics of the types of real accounts available in the broker. For this purpose, we must indicate the type of trading account that we want to simulate.
The type of currency with which we are going to trade in the demo account. We can choose between a large number of currencies, including the main currencies, such as the USD, EUR, GBP, and AUD, among others.
In this section, we can choose the amount of leverage that we want or with which we feel more comfortable, something that regularly cannot be done in other brokers.
It should be noted that high leverages carry greater risks since the greater the leverage the greater the margin required to trade safely.
In general terms, greater leverage implies greater profits as well as can cause greater losses, and in summary, implies greater trading risk.
Tickmill uses Metatrader 4 as its default trading platform in its downloadable versions for PC, as well as in its Web version. Below is the Webtrader version of Metatrader4:
You can get more information about the Tickmill broker and open a practice demo account at no cost, through the following link: