Milling tool as well as a milling insert

A milling tool comprising;

• a basic body having front and rear ends, between which there extends a first centre axis on which the basic body is rotatable and with which an envelope surface is concentric;
• a seat situated in a transition between the envelope surface and the front end;
• and
• a double-sided, indexable milling insert having a round basic shape defined by an imaginary cylinder that is concentric with a second centre axis, the milling insert extending between two reference planes, which individually extend perpendicular to the second centre axis, wherein the milling insert includes a pair of opposite chip faces that are located in said reference planes and between which an envelope surface concentric with the second centre axis of the milling insert extends, and a plurality of identical and alternately usable cutting edges disposed along the peripheries of the chip faces, the seat being located in a spatial position, which is tipped-in in the basic body and in which an axial tipping-in angle and a radial angle are negative thereby providing a clearance behind an active cutting edge of the milling insert, and the milling insert being clamped in the seat by means of a tightening device and rotationally secured in one of several index positions by means of co-operating lock means in the basic body and the milling insert, respectively, wherein the individual cutting edge of the milling insert has the shape of a wave trough subsiding from a reference plane when the milling insert is regarded in side elevation, the cutting edge including two edge segments, which transform into each other via a bottom point, a primary edge segment being longer than a secondary edge segment and falling toward the bottom point at a slope angle that is greater than the axially negative tipping-in angle of the milling insert.