ThinkMarkets – reviews and review of forex trading broker

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Contents

ThinkMarkets Review

Please Note: ThinkMarkets was not included in the 2020 annual review. As a result, this broker’s ratings may be outdated. Read our Best Forex Brokers 2020 guide for a look at the top rated forex and CFDs brokers.

The ForexBrokers.com annual forex broker review (four years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

ThinkMarkets (formerly ThinkForex) was established in 2020. Today, ThinkMarkets is regulated in Australia (TF Global Markets Pty), the UK (TF Global Markets Limited), and Bermuda (Think Capital Limited).

Known for its efforts in the cryptocurrency space (see “Other Notes”), ThinkMarkets offers forex and CFDs traders access to 38 forex pairs and nearly 200 CFDs, which includes nine cryptocurrency CFDs.

Review Summary

ThinkMarkets provides regulated forex and CFDs on multiple asset classes, including cryptocurrencies. Despite offering a proprietary trading platform as well as MT4, ThinkMarkets fails to compete with industry leaders.

Benefits

  • Trade Interceptor desktop and mobile platform is a compelling alternative to MetaTrader 4.
  • Regulated in Australia and the UK (with EU passports).
  • Unique cryptocurrency offering.

Considerations

  • Standard Account holders don’t have access to AutoChartist or an account manager.
  • Poor customer service.
  • Trade Interceptor platform offers no web-based version.

Is ThinkMarkets Safe?

ThinkMarkets is considered average-risk, with an overall Trust Score of 80 out of 99. ThinkMarkets is not publicly traded and does not operate a bank. ThinkMarkets is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). ThinkMarkets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

Feature ThinkMarkets
Year Founded 2020
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 2
Tier-2 Licenses 0
Tier-3 Licenses 0
Trust Score 79

Commissions & Fees

Commissions and fees will vary depending on the type of ThinkMarkets account you choose. Based on our research, ThinkMarkets is more expensive than the industry average.

Benefits

  • ThinkMarkets offers three account types and a separate account type for its Trade Interceptor platform offering.
  • Standard account: $250 minimum deposit, commission free, with wider spreads (in lieu of per trade commission) and can be used on MT4.
  • PRO account: Lower spreads compared to the Standard account and three units per side commission (six units per RT) or the equivalent of $6 RT per standard lot (100K units); minimum account balance of $2,000 required. The PRO account can be used only with the MT4 platform.
  • VIP account: Comparable to the PRO account, commission rate is negotiable on a client-by-client basis, making it an option for active traders, although it is not available for Trade Interceptor accounts (MT4 only).
  • Bankruptcy insurance for eligible clients who deposit over $50,000 in the UK.

Considerations

  • ThinkMarkets advertises its lowest spreads, but because it did not provide an average or typical spread value, we couldn’t make an even comparison with other brokers.
  • We would like to see ThinkMarkets publish its own average spread data, ideally monthly, to help provide a clearer picture on how its forex spreads average out over the entire calendar month, as its FX pricing otherwise appears competitive.
  • ThinkMarkets does, however, publish average spreads for specific instruments, such as CFD indices. For example, we observed a 1.3 pip average spread on the DAX in MT4, whereas, spreads on Trade Interceptor are fixed at 1 pip.
  • ThinkMarkets provides market execution as its main attraction as an agency broker. Because of this, positive/negative slippage can occur, as trades are not re-quoted. In the UK, ThinkMarkets has a dealer license which is limited as a match-principal (agency-only execution), and in Australia and Bermuda the brand follows a similar method, although it may take risks as a dealer/market maker when needed (as a contingency).

Further Reading

Fees Comparison

Feature ThinkMarkets
Minimum Initial Deposit $250.00
Average Spread EUR/USD – Standard N/A
All-in Cost EUR/USD – Active N/A
Active Trader or VIP Discounts Yes

Platforms & Tools

Thanks to Trade Interceptor, ThinkMarkets provides a trading experience that exceeds the traditional MetaTrader-only offering. That said, it is available as a desktop download only and has no browser-based version.

Benefits

  • ThinkMarkets offers two platforms: its own Trade Interceptor platform (desktop only) and MetaTrader 4.
  • While Trade Interceptor’s desktop software may be light compared to other competitors, the platform has a good balance of features, making it neither overly complex, nor too simple. All in all, I found it to be a positive user experience.
  • Charting is a clean experience, and comes packed with 102 indicators, 54 drawing tools and icons, and 12 chart types. One feature I enjoyed is that once indicators are added to a chart, those indicators are added by default to every new instrument opened in a new chart window. Chart layouts can also be saved as templates, comparable to the MetaTrader platforms.

Considerations

  • Oddly, there is no web version of the Trade Interceptor platform, leaving the mobile option the only alternative to the Trade Interceptor desktop.
  • While backtesting is available on Trade Interceptor via the Traders Gym feature, automated trading algorithms are not supported.

Further Reading

Tools Comparison

Feature ThinkMarkets
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 229 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: (23 brokers)
  • View Infographic

Research

Overall, ThinkMarkets provides a fairly diverse selection of forex and CFDs research but lacks the depth and variety of tools required to compete with industry leaders.

Benefits

  • The ThinkMarkets team of analysts produces multiple daily blog articles covering technical and fundamental news analysis across forex and CFD markets. Its economic calendar is powered by FXStreet.
  • News headlines provided by FX Wire Pro stream within the Trade Interceptor platform for clients. In addition, ThinkMarkets integrates AutoChartist, which is a popular pattern-recognition software for researching trading opportunities, although the tool is available only to clients who have at least $2,000 in their account balance.
  • Further research tools include an add-on for MT4 known as MT4 Super, developed by FX Blue LLP, which provides a suite of indicators and trading tools traders can use to enhance the default MT4 platform setup.

Considerations

  • Adding a heatmap and stock screeners would help boost ThinkMarkets’ research offering.
  • Overall quality of produced research is just, “ok”.

Further Reading

Research Comparison

Feature ThinkMarkets
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs No
Economic Calendar Yes

Mobile Trading

After spending some time in the Trade Interceptor app, I was left impressed. Coupled with MT4, ThinkMarkets provides a competitive mobile offering for forex and CFDs traders.

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Benefits

  • The Trade Interceptor app includes a good range of features, even though some of them are nestled away in the “more” section, including the economic calendar and trend risk scanner.
  • Looking at the charting package, there are 11 chart types to choose from with 102 indicators and 57 drawing tools. The experience matches that of the desktop version of the platform, which is uncommon and a benefit for traders.
  • The Trade Interceptor app may appear simple on the surface; however, it provides advanced features and settings that can be fined tuned. For example, charts can be adjusted to view four at once, which is certainly not usually available in a mobile experience.

Considerations

Further Reading

Mobile Apps Comparison

Feature ThinkMarkets
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

Offering of Investments

The following table summarizes the different investment products available to ThinkMarkets clients.

Offering Comparison

Feature ThinkMarkets
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 40
CFDs – Total Offered 192
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Other Notes

Liquidation calls (margin call /stop out) trigger when the account value is equal to half of the used margin, which means the free margin is permitted to go negative up to a value equal to half of the used margin amount – before all trades are closed. This is more flexible than brokers that may trigger a margin call sooner, such as when the available margin reaches zero (i.e., when the account value equals 100% of the used margin).

In 2020, ThinkMarkets followed the industry trend and began offering cryptocurrency CFDs, launching nine pairs against the US Dollar including Bitcoin, Bitcoin Cash, Bitcoin Gold, NEO, Dash, Ethereum, and Ripple.

It’s worth noting that ThinkMarket’s cryptocurrency CFD contracts expire each week, limiting their appeal to long-term investors.

ThinkMarkets also publishes a blockchain mobile app called TradeConnect, following the Initial Coin Offering (ICO) of the ThinkCoin cryptocurrency project, which is aimed at building a smart contract-based exchange, and is a member of the ThinkMarkets Group.

Final Thoughts

Looking at the ThinkMarkets offering, the Standard account would not be my choice as there is no free VPS, no AutoChartist, and no account manager provided. For traders who want MT4 and can deposit at least $2,000, the Pro account has more competitive pricing and access to the above features Standard Account holders miss.

Pricing aside, ThinkMarkets primary highlights include its cryptocurrency offering and its Trade Interceptor mobile app. Beyond this, our testing found ThinkMarkets provides poor quality customer service, and overall the broker struggles to provide enough value to compete with the best firms in the industry.

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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ThinkMarkets review

ThinkMarkets

Leverage: 1:400

Regulation: ASIC, FCA

Min. Deposit: 250 US$

HQ: UK, Australia

Platforms: MT4, Trade Interceptor

Found in: 2020

ThinkMarkets Licenses

  • TF Global Markets (UK) Limited – authorized by FCA (UK) registration no.629628
  • TF Global Markets (Aust) Pty Ltd – authorized by ASIC (Australia)registration no. 424700 ABN: 69158361561

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What is ThinkMarkets?

Back in 2020, the year saw the launch of ThinkForex in New Zealand with its aim to improve the forex trading experience by delivering leading technology to the community. Further on, as the company’s rapid expansion program along with huge growing demand the broker took a brand name ThinkMarkets while also improved client security under ASIC and FCA regulations.

ThinkMarkets then relocated its global headquarter to London and Melbourne, Australia. Since then, ThinkMarkets was awarded as “Fastest Growing Forex Broker” as the firm held hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America while delivers unparalleled trading performance.

Apart from the general offering to the retail clients’, ThinkMarkets launched numerous investment and partnership programs. Thus, ThinkInvest is the investment service that brings the ability to trade the financial markets by investing in the expertise of a Money Manager through PAMM and MAM accounts.

From the ThinkMarkets benefits the major ones provide clients with tightest possible spreads, even under volatile market conditions, from as low as 0.1 pips on EUR/USD.

The clients’ are always supported by the company’s award-winning customer service and learning teams. ThinkMarkets do support new traders and seasoned ones by established comprehensive learning center with free trading guides and webinars that covers both technical and fundamental analysis, also the market psychology.

However, along with attractive proposal of ThinkMarket you should check the most important information of the trading conditions itself. With this purpose, in this review we cover the following highlights:

Is ThinkMarkets safe or a scam?

You can trade with ThinkMarkets easily and with peace on mind, knowing that the broker fully registered with the Australian Securities and Investments Commission (ASIC) as well as authorized and regulated by the Financial Conduct Authority (FCA) of the UK.

The regulatory status in simple words means a client is treated fairly according to the international laws and requirements, while trader’s funds are held in selected top-tier banks, such as Barclays, National Australia Bank and the Commonwealth Bank of Australia. Traders funds also being segregated from the own company funds, with daily fund reconciliation and application of the standard Financial Services Compensation Scheme (FSCS) while the clients are covered under the ‘investments’ claim category up to £50,000 per person per firm in case of a brokers default.

ThinkMarkets Trading Platforms

The trading performance on a technological and software level supported by well designed and developed broker platforms. The choice of two platforms bringing the commonly used MetaTrader4 or Trade Interceptor to the client’s choice. In addition to the main characteristics, their partnership with Equinix, started back in 2020 brought an enhanced trade execution speed through the use of co-location data centers to reduce trading latency.

Getting to the details, MetaTrader 4 is a powerful platform but nevertheless, versions may vary from the broker to another. The ThinkMarkets MT4 is a mobile optimized platform packed with tools to support every trading style. Features high-end service for ultra-fast trade execution as well brings benefit from institutional-quality apps, indicators and insights powered by the progressive add-ons and additional features.

While Trade Interceptor performers a multi-device trading with 80 indicators, 50 drawing tools &14 chart types, and up to 200 cloud-based notifications at no charge. Trade Interceptor mobile has been ranked as No. 1 mobile trading app in the world.

ThinkMarkets Trading Fees

While opening an account you may choose from two account types, while free Demo is available to practice the experience, along with a choice on Islamic account to the traders of Islam belief. While the Standard offered with no commission and the choice to choose from the fixed or variable spread, the higher account class comes to the Pro Account designed for active traders. Among the Pro Account benefits with lower spread and commission per trade, there are VPS and Autochartist, as well a dedicated account manager that are provided free of charge.

The company offering to discover hundreds of markets to trade and constantly increases a range. At the moment the offer includes over 38 major, minor and exotic FX pairs, Cryptocurrencies, 9 global Indices, Metals, Commodities and over 125 Shares. The crypto trade offers some of the best market conditions to trade Cryptos – Bitcoin, Ethereum, Ripple, Dash, Bitcoin Mini, Bitcoin Gold, NEO, Bitcoin Cash and Ethereum Mini.

For you to check on the trading spread of ThinkMarkets, see the table with Standard quotes before, also see ThinkMarkets trading fees in comparison to another popular broker Tickmill.

Asset/ Pair ThinkMarkets Fee Terms – Standard
EUR/USD 1.2
Crude Oil WTI 4
Gold 6
Bitcoin 75

The overnight fee should be considered as a cost as well, unless you trade with swap-free account. As an e.g. EURUSD swap for long position is -2.5% while the short one will add 2.5% to your account.

ThinkMarkets Leverage

Leverage is indeed an important tool, especially for the retail traders of smaller size. However, the offered leverage levels vary according to the ThinkMarkets entity you trading with.

The smaller level of 1:30 for major Forex pairs applied to the accounts opened under the UK FCA regulation, since the authority significantly lower leverage requirement recently. Meanwhile, Australian traders that are covered by the ASIC regulation still can enjoy a high level of 1:400 for Forex instruments. Yet, make sure to learn deeply how to use leverage smartly and not to fall under unpleasant circumstances.

ThinkMarkets Deposits and Withdrawals

For the best convenience, the client accounts are managed via ThinkPortal that allows to deposit or withdraw funds, update personal information, set up additional accounts, receive updates or view recent transactions.

The account opening is allowed with the minimum deposit of 250$, while funds can be deposited and withdrawn throughout different payment methods, that includes bank transfer, debit and credit card, Skrill, Neteller and even with Bitcoin through BitPay.

What is more, withdrawing funds from your ThinkMarkets account is quick, simple and hassle-free, with no charges such as any withdrawal fees that is definitely a great plus for your future performance.

Conclusion on ThinkMarkets

ThinkMarkets from many prospective seem to have a great offer in technology, reliability, customer service and pricing. With their every day strives to offer even more to their clients, to bring the best and the latest innovations obviously place the broker among the popular choices. Also, the ThinkMarkets is the only UK & Australia regulated broker that currently offers 9 cryptocurrencies.

Since the security of clients’ funds is of fundamental importance in financial trading, the broker’s profile and overall trading offering show the ThinkMarket is the one that you can trust to, along with its competitive trading conditions suitable to the traders of all levels.

No review found.

ThinkMarkets has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African investors. 2020 saw the launch of ThinkForex in New Zealand with an aim to improve the forex trading experience by delivering leading technology to the community. Further, due to the company’s rapid expansion.

ThinkMarkets Review

If your looking for an STP forex broker with a reputation for tight spreads then ThinkMarkets is a great option. ThinkMarkets offers 38 currency pairs for forex trading, choice of MetaTrader 4, 5 and ThinkTrader trading platforms and leverage of 500:1 (ASIC, FSCA) and 30:1 (FCA).

Have a read of our ThinkTrader review and sign up to start trading.

By Justin Grossbard / Updated: Friday, April 03rd, 2020

Key Features Found In Our review Of ThinkMarkets

Established in 2020, Our ThinkMarkets review (formerly called ThinkForex) foundThinkMarkets has a number of impressive features:

  • Low fees with o.1 average spreads EUR/USD and commissions from $3.50 (£2.5 in UK)
  • $0 minimum deposit requirement and easy funding/withdrawal method
  • Choice of the ‘gold standard MetaTrader 4 + 5 or the ThinkTrader mobile trading platform
  • High margin of up to 500:1 leverage from their ASIC + FSCA entities (30:1 in the UK)
  • Range Of Markets With 240+ financial instruments traded
  • Enhanced trader protection with $1 million insurance protection
  • Super reliable network execution. 0.01% downtime and servers in HK and London

Our Rating

The overall rating is based on review by our experts

Forex Spreads And Fees Review

The ThinkZero account offers tighter spreads than the Standard account. Even if you consider the fact Standard account has no commission, ThinkZero account offers better value.

If we use the example provided by ThinkMarkets for each account. Spreads start from 0.1 for ThinkZero and 1.2 pips for Standard account for EUR/USD

A standard Pip costs $10 which means your costs for each account will be as follows:

  • ThinkZero: 0.1 pips = $1 plus round trip commission of $7. This means you will pay $8 in total after you open and then close your position.
  • Standard account: 1.2pip = $12 ($10 per pip plus $2 pro-rata).

From the example above we can conclude you will save $4.00 to open and close your position.

ThinkZero uses STP trading execution which means “razor-thin” pricing. You will find their spreads among the most competitive in the industry.

Below is a comparison of spreads for each broker.

ThinkMarkets Account Types

ThinkMarkets (formerly ThinkForex) offers two main types of trading accounts for retail investors. These are the standard account and ThinkZero account (sometimes called pro account).

Standard Account

ThinkMarkets Standard Account is a spread only account. This type of account means no commissions meaning traders instead pay through wider spreads. The number of pips ThinkMarkets add for each currency pair will vary.

A Standard account is great for traders new to trading as they don’t need to worry about the costs of commissions. This keeps things simple when calculating your trading costs. The other of the standard account is that there is no minimum deposit to open an account however you will still need to meet margin requirements to open your position.

ThinkZero account

ThinkMarkets ThinkZero account is for traders wanting the tightest available spreads. ThinkZero uses Straight-Through-Processing (STP) trading execution which means your orders are routed to the liquidity providers the broker has agreements with. This type of execution has no dealing desk (NDD) which means your quotes are provided directly from liquidity providers without involvement by ThinkMarkets.

As STP does not involve a dealing desk, ThinkMarkets charges a commission instead of widening the spreads. Commissions with ThinkMarkets are:

  • In Australia and South Africa: $3.50 per standard lot each side of the trade or $7.00 round turn
  • In the UK: £2.5 per standard lot each side of the trade or £5 round turn

Minimum Deposits

There is no minimum deposit requirement to open a Standard Account. If you open a ThinkZero Account then there is a $500 / £500 minimum deposit

Standard vs ThinkZero Account – when regulated by ASIC and FCSA

Standard account vs ThinkZero when regulated by FCA

ThnkMarkets Islamic Account

An Islamic account is available for Muslim clients that wish to be compliant with Sharia law. The Sharia account is a swap-fee account which means there are no swaps or interests for any products held in your account. In place of swaps (also called overnight fees or rolling fees), a weekly administrative fee is charged for positions held 7 days or longer. Fees for major currency pairs are generally $5 while minors have a fee of $10.

Think Markets Pro-Account – Only applies in Europe and UK under FCA regulation

If you are registered with ThinkMarkets in the UK or Europe then you may be eligible for a Pro account. This account is for professional traders only. If you qualify for this account you receive the following benefits:

  • Trade with leverage up to 400:1 (retail traders can only do max 30:1)
  • Direct line to senior trader

Professional traders will lose the following benefits retails traders have:

  • Mandatory margin close-out rule
  • Negative balance protection

ThinkMarkets Leverage
Australia and South Africa (and outside UK and Europe)

ThinkMarkets offers leverage of 500:1 when trading forex for those that fall in ASIC and FCSA regulation (Australia / South Africa / Outside Europe and UK).

Leverage for other CFDS are:

Indices: 200:1
Energy: 200:1 (gas 25:1)
Metals: 400:1
Shares CFD: Retail Clients margin of 20% (5:1). Professional trader margins ranges from 5%(20:1) to 20 (5:1).
Commodity Futures: 2-3% margin (33:1 – 50:1)
UK and Europe

Leverage in the UK and Europe for retail traders is different due to FCA restrictions. Professional traders have the same leverage as Australia / South Africa listed above.

Leverage: Major currency pairs Retail traders 30:1 minor and exotic currency pairs 20:1. Professional trader 400:1
Indices: Retail traders 10:1 or 20:1.
Energy: Retail traders 10:1
Metals: Retail traders 400:1 (Copper 200:1)
Shares CFD: Retail Clients margin of 20% (5:1). Professional trader margins range from 5%(20:1) to 20 (5:1)
Commodity Futures: Margin of 10% (10:1)

Open a demo account >>Visit ThinkMarkets >>

What Trading Platforms Are Offered?

ThinkMarkets offer a choice of three trading platforms. These are MetaTrader 4, MetaTrader 5 and their own custom platform ThinkTrader.

1) MetaTrader 4 (MT4)

MT4 has long been established as the premier trading platform for Forex. While Metaquotes who are the makers of the trading platform has since introduced an MT5, MT4 continues to be the more popular trading platform. This is larger because:

  • Its reputation as the best trading platform for all users
  • The large MT4 community
  • It’s easy to use interface
  • Its appear to traders of all levels
  • Low-level resource usage

The main features of MT4 include:

  • 9 Timeframes
  • 30 Technical Indicators
  • 23 Graphical Objects
  • 3 Chart Types
  • 4 Pending order types
  • Hedging and netting options
  • 64-bit Multi-thread strategy testing for expert advisors (EAs)
  • Depth of Market (DOM)
  • Partial order filling
  • Integrated economic calendar

2) MetaTrader 5 (MT5)

MetaTrader 5 builds on MetaTrader 4 which has long been considered the “gold” standard in the industry. MT5 offers everything MT4 has an more. In time, it is expected MT4 will be phased out and MT5 will become the new “gold” standard”

You will notice MT5 has more advanced features than MT4. So if you have not used a trading platform before and plan to be a serious trading long term, then choosing MT5 over MT4 may be a smart move.

Features of MT5 include:

  • 21 Timeframes
  • 38 Technical Indicators
  • 44 Graphical Objects
  • 6 Pending order types
  • Hedging
  • 32-bit single-threaded strategy testing for expert advisors (EAs)

3) ThinkTrader

TradeTrader is ThinkMarkets own proprietary trading platform. The trading platform is a rebranding and enhancement on Trade Interceptor which was built only for the web. ThinkTrader can be used on the with Mac and Windows PCs as well as iOS and Android tablets and mobiles.

ThinkTrader has the distinction of being the most popular app for trading on Mobiles.

Key features of ThinkTrader include:

Technical features:

  • Over 80 indicators
  • 50 drawing tools and chart types
  • TrendRisk scanner to help you find the best trading opportunities using different timeframes

Technology features:

  • Ability to close multiple orders with one-click
  • Login to multi-devices at one time
  • Trading analysis tools kit that will work on mobile, tablet and PC
  • 200 cloud-based alert than can be sent to mobile, tablets and PCs even when you are offline

User experience:

  • Live news from FX Wire Pro
  • Ability to make deposits and withdrawals via mobile
  • Easy viewing to trading history at glace. This includes the choice of daily, weekly and monthly reports in choice of timeframes.

Customer Support and Customer Services

Customer Support

Customer Services can be broken into three basic categories. These are customer support, education and research.

ThinkMarkets customer support is available 24 x 5 (Monday to Friday). The ThinkMarkets customer support team are available via the following method:

  • Live chat integrated into their website and ThinkTrader trading platform
  • Web-Mail via their website
  • Direct email to specific departments including compliance, financial department, marketing, sales and support
  • Direct phone in Australia (1300 toll-free), UK, Italy and Spain and South Africa

If you have a ThinkZero

Education

ThinkMarkets offer a solid suite of education tools. Education tools include:

  • Upcoming webinars
  • Trading guides
  • Glossary
  • Online articles

Webinars are conducted on a regular basis and include a 1 to 1 question and answer session at the end. Topics change each week. These tools are broken down into three sections:

ThinkMarkets includes a series of trading guides that are broken down into by the trader’s skill level.

  • Trading for beginners
  • Intermediate trading tutorials
  • Advanced trading tutorials

These tools are a mix of online articles and PDF files. To access the PDF files you will need to sign up for a subscription which is free.

Beginner topics consist mostly of explainers such as CFDs explained and Fores explained along with “how-tos” such as how to trade Forex and how to start trading the markets. Other essential topics such as Leverage are also covered.

The intermediate trading tutorials cover more complex topics such as Bid-ask spreads, chart patterns order types.

Last the Advanced tutorial guide looks at technical analysis and fundamental analysis.

Research

ThinkMarkets have some useful research tools. These include:

  • Daily insights from their team on in-house experts
  • An economic calendar
  • Technical Analysis

Payment Methods – Deposits and Withdrawals

ThinkMarkets do not charge any fees for deposits or withdrawals. Time to process your deposits and withdrawals will vary depending by your chosen funding method. Funding methods include:

Australia /South Africa

  • Bank Wire / Bank Transfer
  • Credit Cards: Visa / MasterCard
  • Neteller
  • Skrill
  • bitpay (Australia only)
  • ZotaPay (South Africa only)
  • Payment Asia / Union Pay (UK/Europe only)
  • DinPay (UK/Europe only)

Available currencies will depend on the funding method and region you are based.

  • BankWire / Visa and MasterCard, Skrill accept the following for all regions: AUD, EUR, CHF, GBP, USD. In South Africa, it will also accept ZAR.
  • Neteller accepts USD, EUR, GBP, JPY and AUD (along with other currencies).
  • ZotaPay accepts ZAR, USD, EUR, CHF, GBP (along with other currencies).
  • Bitpay: Bitcoin, Bitcoin Cash and Ether.

ThinkMarkets Regulation

ThinkMarkets are joined with two regulators. Regulators set procedures and policies in place that protect your investments and dealings with forex brokers. Standard policies found with most if not all regulators include:

  • Keeping your funds in segregated bank accounts
  • Regular auditing of the brokers and reporting by the brokers
  • Establishing a complaints process
  • Publishing a Product Disclosure Statement (PDS)

Traders in the United Kingdom (and Europe) will likely to be signed up with TF Global Markets (UK) Limited. ThinkMarkets UK is overseen by the Financial Conduct Authority (FCA) – Licence number FRN 629628. The FCA have certain requirements the broker must meet – these include:

  • Retail Traders: Maximum Leverage of 30:1 for major forex pair, 20:1 for minor and exotic currency pairs.
  • Professional Traders: 500:1 (there are eligibility requirement you must satisfy to qualify)
  • Provide guaranteed negative balance protection to retail traders

TF Global Markets (UK) Limited are based in London and include local customer support.

Traders in Australia will sign up with TF Global Markets (Aust) Limited. ThinkMarkets Australia is overseen by the Australian Securities and Investments Commission (ASIC) – Australian Financial Services Licence (AFSL) number 424700. Benefits of ASIC regulation include:

  • Limit of 500:1 leverage for forex
  • Have a physical office presence in Australia
  • Provide effective customer service
  • The requirement that the broker has 1 million in operating capital. This helps protect the broker from debt risks in a volatile market
  • The requirement to meet ASIC auditing obligations
  • Keeping funds segregated in a tier-1 bank account

TF Global Markets (AUS) Limited are based in Melbourne and include local customer support.

Traders in South Africa will sign up with TF Global Markets (South Africa) Pty Ltd. ThinkMarkets South Africa is overseen by the Financial Sector Conduct Authority (FSCA) – FSP No 49835. Regulations with FSCA are similar to ASIC.

Risk Management

ThinkMarkets for the most part only offer “standards” risk management tools such as stop loss and trailing stops. There are no guaranteed stops available.

If you are trading with ThinkMarkets UK (Europe) and you are a retail trader then you will have guarantee negative balance protection included by default.

ThinkMarkets does include a feature not found in other brokers. This is called ThinkMarkets insurance protection. All clients are insured for free for up to $100,000,000 or £100,000,000. What this means is that in the unlikely event ThinkMarkets folds, then you will get up to 1 million in funds back. In the UK, FCA requires that all forex brokers offer insurance of up to £85,000. So ThinkMarkets goes well an truly beyond this requirement.

While we are not sure this feature is a must, CFD trading does involve a lot of high risk. It is a volatile industry to it helps to know your funds are secure should the worst happen to you broker.

Overall Conclusion Of ThinkMarkets

Regardless of your trading experience, ThinkMarkets have a solution for you. If you are new to forex trading then the standard account may be a good option for you. If you are looking to be serious about your trading and want to reduce your costs then ThinkZero stands up well against other similar products on the market.

Features ThinkMarkets offer that greatly impressed us and make it one of the best brokers around include:

  • Tight spreads with STP execution
  • Regulation with tier-1 regulators
  • 0.01% downtime making it reliable
  • Fast execution with regional data centres

Where are ThinkMarkets Data Centres Located

So you get the fastest trading execution speeds and reduce the chance of slippage, ThinkMarkets uses Equinix trading servers which is the largest trading ecosystem available.

As every millisecond counts to get the bid and ask price your want, ThinkMarkets has two Equinix data centres.

The LD5 centre – London

Equinix’s LD5 centre is located 11 miles from the centre of London and is where over 1000 exchanges, companies and liquidity provides operate. This data centre has an uptime record of 99.99% and offers some of the fastest available execution speed.

The Hong Kong centre – Hong Kong

This data centre is close to the financial hub of Asia. Over 455 companies are based in this hub. As it is located in Asia, this makes it a great option for traders in Asia.

What CFDs does ThinkMarkets offer?

ThinkMarkets offers a solid suite of CFDs for trade. These include

  • 38 Forex pairs
  • 20+ Indices
  • 3 Energies (Oil, Gas)
  • 7 Metals (Gold, Silver)
  • 5 Different cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple
  • 1200+ Equities and ETFs
  • 7 Futures (6 commodities, 1 metal)

See out leverage section to see how much leverage is available for each CFD.

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