On Monday ECN broker Tickmill announced to have reached $49.1 billion in trading volumes in the first month of summer, the largest in the firm’s history so far. The success is mainly attributed to the company’s zero commission policy during the Brexit week and the unique Gold Rush campaign that rewarded traders with genuine gold bars.
Indeed, during Brexit turmoil and the concomitant market volatility, Tickmill not only hiked its margin requirements for GBP and EUR pairs, but waived all commission fees to make sure its clients experienced one less worry during this stressful situation.
June also saw the successful conduct of the company’s Gold Rush campaign, which proved to be quite popular among gold traders worldwide. The highest volume participants received 1 oz. gold bars, while others were rewarded with 0.1 oz. gold pieces.
Besides, Tickmill is also moving ahead in another key area, as it revamped its website. It is now more mobile-friendly and easier to navigate through. The company says it incorporated both client and internal team feedback during the website development in order to provide its customers with supreme online trading experience.
Sudhanshu Agarwal, CEO of Tickmill comments: “Our record-high trading volume is the result of our drive to build an outstanding trading infrastructure and back it with a best-in-class trading experience for all clients. Traders understand that Tickmill wants them to succeed and provides top-tier trading conditions.”
One can easily spot an upward trend in this broker’s operational performance, as the reported trading volumes for February and March were $22 million and $32 million, respectively. What is more, in May Tickmill said it expects a trading volume of $330 billion for the full FY 2016.
In fact, a number of FX brokers registered higher trading volumes in June due to the Brexit-related market volatility: The Danish investment services and retail forex broker Saxo Bank posted a 2.4% rise in trading volumes from May, Gain Capital’s GTX June trading volumes jumped 24%, institutional forex broker Hotspot hit a record $59.5 bln for a single day in June, GMO Click Securities & FX Prime also saw their trading volumes from over-the-counter (OTC) forex activities on the rise in the first summer month.
Established in 2014, Tickmill is an electronic communication network (ECN) broker, which offers trading in diverse financial instruments, including currency pairs, contracts for difference (CFDs), stocks, indices, commodities, and precious metals. It holds a license by the Financial Services Authority (FSA) of the Seychelles, which is known as an offshore forex destination.