What is Tickmill’s Pelican Trading?
Trading with signals is one of the main trends in the financial industry.
There are so many various apps and platforms that it sometimes becomes hard to pick the right one.
Tickmill went over a few dozens of copy trading, social trading, and other trading platforms to find the best one.
Pelican trading is not just another trading platform.
It is 3-in-1: it has benefits of both trading application, social trading and copy trading platform.
This post is to give you an idea of how to use this app if you want to follow a successful trader and copy his signals.
Benefits of Pelican Trading:
- It is 100% free.
- Traders can copy signals in automated mode.
- Signal providers and traders can create groups and talk with each other, share traders inside of this app, or share of Instagram, Facebook or other chat messengers.
- Possible to trade inside Pelican Trading and all trades will appear in MT4 trading account.
- Any trader can set his own risk parameters (how much capital to risk in each trade).
- Pelican trading is an FCA UK regulated company and it is safe to use it.
How to start using Tickmill’s Pelican Copy Trading?
Pelican Trading is a smartphone or tablet app that you can find on Google Play or the App Store.
Just enter PELICAN TRADING and install this app on your device.
Once installed you need to register your phone number with this app and receive an SMS verification code.
SMS verification code never arrived? You may click DIDN’T RECEIVE YOUR CODE button and you may either check if your phone number is correct, request to resend to your phone again, or have it sent to your email.
An email with a verification code arrives within 5 minutes usually, but don’t forget to check your SPAM folder as well.
How to link Tickmill Account to Pelican Trading?
If you have an existing MT4 account is takes you only 1 minute to link it with Pelican Trading.
Select Tickmill from the list and enter your account login details.
How to start copying trades with Pelican Trading?
As soon as you log in to Pelican Trading you can look for traders and signal providers and copy their traders in fully automated mode.
You can search for your preferred trader of pick featured one.
Click the COPY button to copy his trades.
Pelican Trading allows traders to manage their risks when copying others.
It is possible to copy multiple traders and set different risk parameters for each of them.
Total cash to be risked is how much USD a trader is ready to accept when copying trades of a specific trader.
Pelican Trading has a warning message not to risk more than 30% of trading capital.
If losses exceed the selected amount, copying will automatically be suspended.
Amount to mirror (%) is how a trader wants to copy trades.
With 100% a trader with take same risk as a signal provider, with 200% risk will be 2 times higher, with 50% risk will be half of the signal provider.
The Signal provider has $1,000 to trade. Trader A has $100 in his MT4. Trader B has $1,000 in his MT4.
With 100% amount to mirror when signal provider trades 1 lot with $1000, Trader A will copy 0,1 lot and Trader B will copy 1 lot.
With a 200% amount to mirror when the signal provider trades 1 lot with $1000, Trader A will copy 0,2 lot and Trader B will copy 2 lots.
With 50% amount to mirror when signal provider trades 1 lot with $1000, Trader A will copy 0,05 lot and Trader B will copy 0,5 lot.
Hit the COPY button to start copying.
How to create chat groups?
Traders can create their own chat groups which can be either public or private.
To create a group, tap the ACTIVITY button on the bottom of the app and go to MY GROUPS.
CREATE A GROUP BUTTON is there to create one.
When creating it, it will be needed to give it a name and set some other parameters.
Once created it is possible to invite other traders to join directly or let them find and join whenever they are ready.
How to become a Signal Provider of Pelican Trading?
Some traders may want to share their signals with others and be visible to other Pelican Trading users.
Currently, Pelican Trading does not have a SPECIAL button inside of their app to apply to be a signal provider.
But Tickmill has a solution!
- You need to connect trading account with Pelican Trading. This account acts as the master accounts. Others will copy it.
- Other users can copy this connected account by searching it in DISCOVER section and selecting COPY from profile.
- If you plan to charge other users any fee (subscription fee, performance fee etc.), fill in the application form.
- Due to FCA UK regulation Pelican trading must ask you a few questions to better understand your trading experience.
- Get ready a few documents and send them. You will need:
- valid identification documents (ID card or driving license or passport),
- valid and proof of address (bank statement or utility bill),
- trading statement from a live account or live accounts for the past 12 months.