TickMill Copy Trading Review

We all know that becoming a successful forex trader requires time, knowledge, and experience. Forex trading involves reading the markets, developing strategies, and a lot of experimenting, i.e., trial and error.

But what if there was a way to simplify this process so you can reap the benefits right away?! The TickMill Copy Trading service is an innovative solution you need for a better trading experience in the Forex Market.

Let’s dive right into it and learn how TickMill Copy Trading can help you achieve your trading goals.

What is TickMill Copy Trading aka Social Trading?

Copy Trading is an integrated service that allows you to copy the trades of other traders, or allow them to copy your trades in exchange for a commission.

However, TickMill social Trading offers you more than a copy trading program, it is a community that enables you to jump-start your trading. New traders can use this program to familiarize themselves with the Forex industry, and experienced traders can use it to earn more money in their next trading endeavors.

How does TickMill Social Trading work?

In the TickMill Copy Trading program, You can be either a Follower or a Strategy Provider, depending on your level of experience, preferences, and budgets. TickMill Copy Trading is available for various trading instruments on both MT4 and MT5 trading platforms.

✅ 1. Follower

As a Follower, you can copy the trades of other traders. Inexperienced traders usually become Followers so they can copy the trades of more experienced traders and learn from them.

To become a Follower, you just need to open a Live account at TickMill and browse through the list of Strategy Providers. After choosing your preferred providers, you can follow them and invest your funds. The Copy Trading service will automatically copy the trades of your chosen Strategy Providers into your account. Moreover, you can also choose which orders to copy or skip by setting a Provider Filter in your profile.

As a Follower, you just need to single out top traders for your trading needs and sit back while they do their magic. When they succeed, you succeed and have to pay a commission for their services. However, when they fail, you do not need to pay any commission – though you still need to deal with your losses.

✅ 2. Strategy Provider

A Strategy Provider lets other traders copy their trades in exchange for a percentage of earned profits. Strategy Providers are usually experienced and professional traders who are used to trading in big volumes.

To become a Strategy Provider, you just need to register your Live account and provide the required information about your trading strategies. Your performance statistics will be displayed on the TickMill Copy Trading page so Followers can check out your profile and decide whether they want to follow you.
By becoming a Strategy Provider, you can earn commissions of up to 50% from your successful trades. If you can earn more money by making the same amount of effort you normally would, then why not take advantage of this win-win situation?!

How do we use the TickMill Social Trading platform?

All you need to do is register an account as a Follower or a Strategy Provider. After that, you can access the Client Portal to monitor all of your trades.

Note that you can open both Follower and Strategy Provider accounts, but you have to use separate accounts.

Follower: How to copy a strategy

To start following experienced traders, do these steps:

🔸Open a Live trading account.
🔸Browse through the list of Strategy Providers, check their performances and statistics, and choose a Strategy Provider that suits your trading purposes.

Note: You can filter the Strategy Providers by the number of followers, age (in days), total profit, maximum profit, return (total, 1 year, 1 month, and 1 day), maximum drawdown, equity, and rating with ascending or descending.

🔸You can also click on each Strategy Provider to see more information about them. The information includes their trading type, trading platform, leverage, current balance, equity, floating PnL, maximum profit, return percentage, number of followers, server, absolute gain, total profit, maximum drawdown, return/period, average return, deposits and withdrawals, and performance graphs.

🔸Click “Invest” to register your account as a Follower.

🔸You will be redirected to the Follower registration form. Choose the server, trading account ID, password, Strategy Provider, and offer type. Then, tick the box to accept the Terms of Service, and click “Register.”

Note: A Strategy Provider may provide more than one offer, with different trading conditions and different performance fees. After choosing a Strategy Provider and an offer, you will see the performance fee, frequency of payment, and minimum balance, if any.

🔸After subscribing, you have to activate it manually before copying any trades. This is a preventative measure to avoid copying the trades of a Strategy Provider accidentally. It also gives you time to set up your copying strategy first.
🔸You can check and monitor all of your trades via the Client Portal.

Note: From your Follower profile settings, you can set the criteria you want to apply when copying the trades (Provider Filters) and the ratio at which you want to copy (Volume Scaling). In addition, you can decide the limits that will automatically close your position or stop your subscription (stop copying the Strategy Provider).

🔸You are done, and just wait for the profits!

Strategy Provider: How to create a strategy

To start sharing your strategies and earn commissions, follow these steps:

🔸Open a Live trading account.
🔸Register your account as a Strategy Provider by filling out the TickMill Copy Trading registration form.
🔸Choose your server, trading account ID, password, and nickname.
🔸Then, you can decide your performance fee (between 0-50%) and payment frequency (end of week or end of month). You can also set the minimum account balance a Follower must have. These conditions will be shown to your Followers as an offer.

Note: TickMill Copy Trading allows you to create up to 3 different offers. However, you should think through your offers carefully because they cannot be edited or updated once they are active. To edit or update them, you have to contact TickMill.

🔸Remember that you can only link one Strategy Provider account to one trading account. So, if you want to have several Strategy Provider accounts, you should link each of them to different trading accounts.
🔸Done, your strategies are ready to be copied!

Note: In addition to the performance fee, TickMill also offers an additional payment structure. For each Follower that copies you for at least 30 days, you will get an additional 2,500 USD (tops). That is to say, for the 1^st to 49^th Follower, you will get 20 USD per follower, and for the 50^th to 100^th Follower, you will get 30 USD per Follower.

How are the fees calculated in Tickmill copy trading platform?

Strategy Providers can decide their percentage fee from 0 to 50%. The fee is calculated on the TickMill Copy Trading platform based on a Net Profit basis using the High-Water Mark (HWM) model. The Net Profit includes commissions and swaps.

The new High-Water Mark cannot be lower than the previous one and must always have a positive value. The following diagram will help you better understand how the High-Water Mark model is used in the TickMill Copy Trading program.

Let’s say that you have a total of 5 trades with a Strategy Provider. The first Trade is profitable, so you have to pay a commission to the Strategy Provider. Trade 1 determines the first High-Water Mark (HWM 1).

In Trade 2, the trade is once again profitable, and the High-Water Mark is higher than HWM 1. Hence, you are to pay a commission.

However, the Strategy Provider fails in the next trade, which results in a loss. Since it is a loss, you do not have to pay any commission.

Then, Trade 4 is successful, but since the previous trade resulted in a loss, the Strategy Provider has to cover for your loss first. It means that you do not need to pay any commission. However, the profits from Trade 4 cannot completely cover the loss in Trade 3. So, in the next trade, the Strategy Provider still has to cover the loss.

The last trade is also successful. In Trade 5, only a portion of the profits will cover the fee since the Strategy Provider still has to cover the loss.

Based on the above example, we can say that Strategy Providers will earn their commissions only if their trades result in profits.

What are the advantages of TickMill Copy Trading?

TickMill Copy Trading is gaining popularity quickly due to its benefits for both Followers and Strategy Providers. Here are some benefits you can get from this copy trading service:

✅ Followers

👍 Skip the hassle and reap the benefits

By using Copy Trading services, you can skip the hassle and reap the benefits right away. You do not need to check the markets regularly, do deep research, or make difficult trading decisions. You just need to copy the trades of professional traders in a few clicks, while learning from them.

When they earn profits, so will you. No need to calculate the fees either since TickMill will do it transparently for you based on the commission rate set by the Strategy Provider.

👍 Diversify your portfolio

Many traders say that diversification is the key to successful trading and rightfully so. While trading in a high-risk environment, you should not rely on just one trade, instead, you need to follow different traders who trade in different trading instruments by implementing various trading strategies.

✅ Strategy Providers

👍 Trade like before and earn more money

At TickMill, you can set a commission rate of up to 50% and get paid at the end of the week or at the end of the month.

In addition, you can develop new strategies and test them out in the field, while having the chance to earn more profits. Sounds exciting, right?

👍 A more challenging trading environment

As an experienced trader, you may feel bored with the usual trades even though the Forex market is ever-changing. By registering yourself as a Strategy Provider, you can manage other traders’ funds and trade in much bigger volumes. It becomes a more challenging environment where you can test your skills and prove your trading capabilities.

TickMill Copy Trading has become an easy way for traders to earn more money, either as a Follower or a Strategy Provider. Be that as it may, you can never let your guard down. Copy Trading still poses a high risk where you can easily lose your money. Therefore, you must always choose your Strategy Providers carefully and check your trades regularly to make sure everything is going well.

Is TickMill Social Trading safe and good for traders?

Yes, absolutely! TickMill, a fully regulated international Forex broker, allows you to have total control over your Copy Trading account. In other words, no one else can access your account.

Using the TickMill Copy Trading service, you can set up a copying strategy to copy or skip orders according to your preferences. You should also monitor your trades in real-time so you can react promptly in case something goes wrong, and never forget to check your Strategy Providers’ past performances.

Furthermore, all commissions are calculated transparently at the end of each trading period for your convenience. The amount depends on the commission rate set by the Strategy Provider and is calculated using the High-Water Mark model, which will be explained in the next section.