ThinkMarkets Review and Tutorial 2020
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|ThinkMarkets Facts & Figures|
ThinkMarkets is a multi-regulated forex and CFD broker
• Best Forex Trading Experience 2017 - UK Forex Awards
• Best Forex Trading Innovation 2017 - UK Forex Awards
• Best Customer Service 2013 - UK Forex Awards
|Instruments||Forex, CFDs, indices, stocks, commodities, cryptocurrency, spread betting|
|Min. Deposit||No minimum|
|Min. Trade||0.01 lots|
|Regulated By||FCA, ASIC, FSCA|
|Auto Trading||Yes - EAs compatible|
|CFDs are available on multiple markets, including FX, indices, shares, commodities & cryptocurrency|
|Stocks Spread||From 0.4 points|
Trading available on close to 40 major, minor, and exotic currency pairs
Trading on popular crypto coins, including Bitcoin, Ethereum & Dash
|Spread||Start from 0.005|
|Coins||BTC, ETH, XRP, BCH, LTC|
ThinkMarkets is a multi-regulated broker offering trading in forex and CFDs. Users can choose between MT4 and MT5, plus the broker’s ThinkTrader platform. This, along with low trading fees and over 12,000 instruments makes the ThinkMarkets group an attractive proposition. Our review will unpack the login process, client portal features, and more.
ThinkMarkets was founded in 2010 by CEO – Nauman Anees. The group has headquarters in Melbourne and London and forms part of Think Capital Limited, a company registered in Bermuda.
Since 2010, the online broker has expanded its trading operations, attracting 550,000 users in 75 countries, including Indonesia, Egypt, the UAE, and Bulgaria. In 2018 ThinkMarkets made the news for allowing Australian investors to invest in an emerging financial technology market with a £100 million initial public offering (IPO) on the ASX.
The broker is regulated by the Australian Securities & Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), and South Africa’s Financial Services Conduct Authority (FSCA).
The broker’s proprietary ThinkTrader platform is slick and intuitive. Users get over 80 indicators, 50 drawing tools, plus 14 different chart types. Clients also benefit from close to 200 free cloud-based notifications. Direct chart trading is also available, along with standard risk management tools and multiple order types.
The MT4 platform can be downloaded to your PC free of charge. The platform promises fast trade execution, over 100 indicators, and one-click-trading. The MT4 system also comes with a host of superb apps and additional features, including AutoChartist, a VPS, and FXWirePro.
The MT5 platform is the latest version of the popular MT4 software. It appeals to seasoned traders, in particular, offering more advanced trading tools and analysis features. Users benefit from additional technical indicators and timeframes, plus an enhanced strategy tester for EAs, as well as a built-in economic calendar.
Note, MetaTrader’s WebTrader platform is not available.
ThinkMarkets has a 12,000-strong list of tradable instruments, covering:
- Forex – 38 majors, minors, and exotics
- Stocks – 12,000+ shares available
- Indices – Nine global indices
- Commodities – Oil, gas, & agricultural
- Precious metals – Gold, silver, platinum & copper
- Cryptocurrencies – Bitcoin, Ethereum, Dash & more
Spread betting is also available for UK clients only.
Spreads & Commissions
ThinkMarkets scored highly in terms of trading fees. Spreads start from zero pips while average spreads on major FX pairs, such as the EUR/USD and GBP/USD, are 0.5 pips and 1.2 pips respectively.
With the ThinkZero spread account, there is a 3.5 commission per side of 100,000. Commissions are also charged when share trading on the MT5 and ThinkTrader platforms. An inactivity fee is charged to accounts that are dormant for six months. Traders will be pleased to see there are no swap rates.
ThinkMarkets allows its clients to trade with significant leverage:
- Forex – leverage up to 1:500
- Indices – leverage up to 1:200
- Commodities – leverage up to 1:200
- Cryptocurrency – leverage up to 1:5
To avoid a margin call, make sure you have enough capital in your account.
Note, due to EU regulations, the maximum leverage available to traders from Europe is 1:30.
ThinkMarkets offer a full-service mobile app available to download to iOS and Android devices. Previously Trade Interceptor, ThinkMarkets has enhanced the platform to provide a superior mobile trading experience. The app has since been rated five stars by over 15,000 users.
The award-winning mobile program offers thousands of markets, in-app chat support, plus a breadth of analysis tools and technical indicators.
Funding your account is available via several deposit methods:
- Bank transfer – available currencies: AUD, GBP, EUR, CHF, USD. Processing time: 1 – 3 days
- Credit & debit card – available currencies: AUD, GBP, EUR, CHF, USD. Processing time: instant
- Skrill – available currencies: AUD, GBP, EUR, CHF, USD. Processing time: up to 10 minutes
- Neteller – available currencies: AUD, GBP, USD, JPY. Processing time: up to 10 minutes
There is no minimum deposit with the Standard account, but the ThinkZero account requires a minimum deposit of £500.
For security reasons, the withdrawal and deposit method must be the same. Withdrawals are normally processed within 24 hours but may take up to seven working days. The minimum withdrawal amount is £100. There are no deposit or withdrawal fees at ThinkMarkets.
ThinkMarkets offers a demo account with £50,000 in practice cash. Users can refine strategies and test the MT4, MT5, and ThinkTrader platforms while getting familiar with the available instruments. Although the demo account is unlimited, it will expire if unused for more than 30 days.
Welcome Bonus & Promotions
ThinkMarkets offers up to 25 commission-free trades as a welcome bonus if you open a zero spread account. As part of the promotion, traders get tiered cash rebates:
- Gold – $4,000 deposit – 25 commission-free trades
- Silver – $2,000 deposit – 15 commission-free trades
In the past, the broker has been known to offer no deposit sign up bonuses and other offers. However, EU regulators are cracking down on welcome bonuses, so if you take ThinkMarkets vs the likes of IC Markets or XM, the broker’s offers are competitive.
Regulation & Licensing
TF Global Markets UK Ltd is FCA registered while the group also holds licenses with the Australian Securities & Investments Commission (ASIC), and South Africa’s Financial Services Conduct Authority (FSCA). The broker is also licensed to operate in many other countries, from Canada and Greece to Malaysia, Vietnam, and Dubai.
The broker offers negative balance protection to stop clients from losing more than their deposits. Also, ThinkMarkets has a £1 million insurance protection plan.
Overall, we’re satisfied the broker is highly regulated and trustworthy.
ThinkMarkets has a pretty good library of educational resources. For beginners, there are free video tutorials and a trading glossary. Tutorials aimed at intermediate and advanced traders are also available. Additionally, trend PDFs, market news, and blogs from industry experts can be found on the broker’s website.
The multitude of tools are all designed to help traders boost revenue and minimise losses.
ThinkMarkets has two popular retail accounts:
- Standard account – Average FX spread is 1.2 pips, no commission or minimum deposit, and maximum trade size is 50 lots. The Standard account doesn’t come with AutoChartist or an account manager.
- ThinkZero – Average FX spread is 0.1 pips, £2.5 unit commission per side, £500 minimum deposit, and maximum trade size is 100 lots. ThinkZero is best suited to traders looking for zero spreads and large position sizes.
Islamic trading accounts and joint accounts are also available.
Note the broker does not use an ECN model and is primarily a market maker.
ThinkMarkets scores highly in broker rankings for several reasons:
- 12,000+ tradable products
- No requotes/slippage issues
- Award-winning customer support
- Choice of platforms, including MT4 & MT5
- Licensed in both Australia (ASIC) & UK (FCA)
- Quick & easy to open a ThinkMarkets account
Downsides to trading with ThinkMarkets include:
- No binary options
- No copy trading service
ThinkMarkets trading hours follow standard opening and closing times of respective markets. So, for forex and indices, most trading will take place Monday to Friday. Contract specific opening hours can be found on the broker’s website.
ThinkMarkets multilingual customer support team is available 24/5. They can be contacted through:
- Email – firstname.lastname@example.org
- Telephone – UK: +44 203 514 2374, AUS: +61 3 9093 3400
- Live chat – chat support available on the website and mobile app
A self-service FAQ client portal and online query form are also available on the broker’s website.
Use ThinkMarkets social media channels to keep up to date with the latest product and promotional news:
The Chicago, London, Melbourne, and Sofia office addresses can be found on the broker’s website.
The ThinkMarkets website is secured using industry-standard encryption protocols. Also, the MetaTrader platforms use a one-time-password to provide an additional layer of security.
ThinkMarkets is an excellent forex and CFD broker. A choice of trading platforms, thousands of instruments, and low fees make the group suitable for beginners and veterans. The broker is also highly regulated with a long list of positive reviews from customers worldwide.
ThinkMarkets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use ThinkMarkets from United States, Canada, Japan, France, Belgium.
What instruments can I trade at ThinkMarkets?
Tradable assets at ThinkMarkets include forex, metals, CFDs, cryptocurrency, and for UK residents – spread betting.
What is the minimum deposit at ThinkMarkets?
With the Standard trading account, there is no minimum deposit. However, the ThinkZero account comes with a £500 minimum deposit requirement.
Does ThinkMarkets have a demo account?
ThinkMarkets offers a demo account with £50,000 in virtual cash. Traders can try the MT4, MT5, and ThinkTrader platforms. Note, the demo account will expire after 30 days of inactivity.
Is ThinkMarkets a trustworthy broker?
ThinkMarkets is a highly regulated and trustworthy broker. The company holds licenses with some of the most respected regulatory bodies, including the UK’s FCA. Customer reviews also show the broker can be trusted.
Who is the ThinkMarkets owner?
ThinkMarkets was founded in 2010 by Nauman Anees, following years of experience in financial services. Nauman is still the CEO today.
|ThinkMarkets is a multi-regulated forex and CFD broker|