No need to trade, you only need to participate in the price movement estimation during the NFP activity to profit from the activity, here is everything you need to know about Tickmill's NFP activity。

Analytical skills are one of the most important skills a trader needs to become an expert in the highly unpredictable and competitive field of Forex trading, including quickly analyzing the market, identifying market trends and using the information obtained to make informed trading decisions.。In addition to formal teaching, analytical skills can also be gained from experience, the market is always dynamic, so it is important to understand how to control your trading in any situation。

In addition to trading, analytical skills are useful in other activities。For example, some brokers offer exciting contests designed to test a trader's skills in a non-trading environment.。This is a great opportunity to apply your skills and win various prizes for trading。

In this article, we will focus on Tickmill's special competition "NFP Machine"。But first, let's take a look at the non-farm payrolls data and its importance in forex trading。

NFP and its relationship with foreign exchange trading

Non-farm payrolls (NFP) is a key indicator of the U.S. economy.。It is essentially a report that includes the number of new jobs created in all U.S. industries except farms, government, private households, and nonprofits.。The report is released monthly by the Bureau of Labor Statistics, usually at 08: 30 on the first Friday of each month.。

NFP data is important in Forex trading as it reflects the current state of the US economy。Low employment numbers indicate that the economy is currently in a downturn, and when that happens, the Fed is likely to ease monetary policy aimed at increasing employment and increasing economic output。This will lead to lower interest rates and lower demand for dollars, which will have a considerable impact on the money market。

Equally important, the release of non-farm payrolls data is usually accompanied by a sudden increase in volatility and a widening of spreads.。Traders can easily be forced to close out their positions due to extreme market conditions if they are not careful, so traders must be cautious about major economic data such as the non-farm payrolls report。

NFP: Predicting Price Wins Cash Award

Seeing the importance of NFP reports, leading broker Tickmill decided to launch a special campaign called "NFP Machine" to bring the analytical skills of traders into play.。The campaign was first launched on May 30, 2016, and as of September 2019, the campaign takes place on the Woobox trading platform, with details to be announced on the broker's official Facebook page during the first week of each month.。All Tickmill real account holders worldwide can participate in this campaign。

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Tickmill is an award-winning global ECN broker licensed and regulated by the Financial Conduct Authority (FCA), Cyprus CySEC and the Seychelles FSA。Founded in 2014, the company offers a variety of trading services to retail and institutional clients with a focus on foreign exchange, equities, commodities, CFDs and metals.。

For traders who prioritize spread value in broker selection, Tickmill offers premium services with low spreads, from 0.From 0 o'clock。

The London-based company's mission is to provide clients with the best possible trading environment so that they can focus on trading and become successful traders, such as offering 0.15 seconds of quick execution。With this setup, Tickmill gets CFI.Best Forex Executive Broker Award 2019 from co Awards。In addition, Tickmill has been awarded "Best CFD Broker in Asia 2019" by International Business Magazine, "Best Forex Broker in Asia" by Forex Awards and "Most Transparent Broker in 2019."。

After registering with Tickmill, traders can choose the most desirable asset among the 60 currency pairs available for trading。If the trader is not yet sure whether to open a real account, Tickmill recommends learning to trade through a demo account。

There are also educational features such as webinars, seminars, e-books and video tutorials。Traders can use all these facilities to increase their knowledge about trading and the financial markets in general。If traders already have enough knowledge, they have a greater chance of consistently earning profits。

For traders who sign up for a real account, they can choose to offer three types of accounts, including professional accounts, classic accounts and VIP accounts。Traders can take 0.01 minimum order opening。This applies to all types of accounts。

The company offers advice to traders who are still confused when choosing an account。For example, for novice traders, Tickmill encourages customers to opt for classic accounts。It provides the best conditions for fast order execution while enabling traders to use almost any trading strategy。In addition, the account does not charge a trading commission, so the trader only pays the buy / sell spread。In addition to the above three main accounts, Tickmill also offers Islamic accounts (free of overnight interest).。

At Tickmill, however, traders can only use MetaTrader 4 as their trading platform.。Although not much compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface with sophisticated order management tools to help traders control positions quickly and effectively。

One-click EA integrated on MT4 enhances the convenience of Tickmill trading。Traders will automatically receive stop loss and take profit calculations; most importantly, Tickmill provides VPS hosting for automatic traders who do not need to worry about technical issues such as Internet connection。

They offer a variety of third-party research solutions, including Autochartist, a popular pattern recognition software that uses automated technical analysis to make predictions and generate trading signals.。Autochartist is available in the portal of Tickmill and as a platform plug-in for MetaTrader 4。

As a Tickmill customer, traders can deposit and withdraw money using multiple payment methods including Visa, Mastercard, Bank Transfer and Skrill。Tickmill accepts deposits and withdrawals in 4 currencies, including USD, EUR, GBP and Polish Zloty。

Overall, Tickmill is a competitive spread broker and offers a safe trading environment with its regulated entities located in three different jurisdictions.。Although the trading platform is not great, the analytical tools they provide to meet the needs of traders meet the standards of retail brokers。

Basically, NFP Machine is a "prize prediction" contest in which participants have to guess the price of a particular instrument at a particular date and time, with fairly simple rules.。During the NFP launch, Tickmill will set up some kind of financial instrument for forex contests and challenge traders to speculate on prices on the MT4 trading platform 30 minutes after the NFP launch.。

Traders who are able to guess the exact price number will receive a $500 cash reward, which will be sent to their trading account。However, if no one guesses correctly, the closest trader to the prediction will receive a $200 bonus.。

How to participate in Tickmill NFP activities

1. Create a Tickmill real account (if you don't already have one) and become a Tickmill user to participate in the contest。
   During NFP launch week, travel to the Woobox platform to compete。
   Enter your forecast and your full name and Tickmill live account。
   If you win, we will contact you via the email you used when you registered with the company and the prize will also be immediately deposited into your account wallet。

It is worth mentioning that traders can submit forecasts on the Woobox trading platform from 00: 00 on Monday to 15: 00 on Friday NFP week server time。The broker will announce the winner about an hour after the NFP launch, and the name will appear on the celebrity wall of the broker's website.。

Can the bonus be withdrawn?？

Bonuses for Tickmill's NFP campaign can be withdrawn and can be used for trading purposes or withdrawn in cash。If you want to withdraw, you need to trade at least 1 standard lot for every $5 cash reward。Assuming you get a $500 cash reward, you need to trade at least 100 standard lots to withdraw。Also note that bonuses can only be received in one's own wallet and that it is not allowed to transfer bonuses to other trading wallets。

Conclusion

Tickmill's NFP Machine activity is one of the functions of a broker, which provides you with a great opportunity to use your analytical skills and earn additional income outside of trading activities。All you need to do is submit your forecast during the NFP release week for a chance to win some cash。You don't have to make any deals or invest any money here。If you win, you can use the money to fund the transaction or withdraw it to a bank account。Your name will also appear on Tickmill's Celebrity Wall after the winner is announced。

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Tickmill It is Tickmill Ltd.The company provides trading services through quality products and innovative technologies.。Superior trading conditions, ultra-fast execution, security of client funds and dedicated support are at the forefront of the services it offers。