ThinkMarkets is a global Forex and CFD broker established in 2010. The company has its origins in Australia, where it is licensed and regulated since 2012 by the ASIC under the name TF Global Markets (Aust) Pty Ltd ASIC under the AFSL license number 424700. In the EU, the Broker is headquartered in London, UK, where it is licensed and regulated under TF Global Markets (UK) Limited with licence number 629628 by the UK Financial Regulator FCA. ThinkMarkets has extended the FSCS's standard deposit protection up to GBP 50,000 via Lloyds up to an additional GBP 1,000,000.
ThinkMarkets Financial Instruments and Asset Classes
At ThinkMarkets, traders will find financial instruments in 7 asset classes for trading, 43 Forex currency pairs, over 150 international equities, 13 indices, 8 commodities and metals, 5 Crypto Currencies in USD pairs and 9 Futures.
ThinkMarkets not only addresses a global clientele by offering international assets and a web presence in 18 different languages, but also through licensing and regulation by two of the world's most respected finance regulatory authorities, FCA in the UK and ASIC in Australia. In addition, it is licensed and regulated by the FSCA in South Africa. As a result, customers with accounts outside the EU are not subject to strict regulation, such as the maximum leverage of 1:30 for retail clients in foreign exchange trading.
ThinkMarkets Trading Platforms
In terms of trading platforms, ThinkMarkets relies on the proven MetaTrader 4, which is practically the standard in the industry. In addition, with the ThinkTrader, the broker has a proprietary trading platform that is capable of setting standards in some areas, particularly in mobile trading.
MetaTrader 4 certainly has its greatest advantage in the area of automated trading with EAs, and the platform is also the undisputed market leader in the development of individual indicators. However, even in its standard version, the platform has a number of functions and features that make trading more convenient. More than 50 indicators are already integrated into the platform, news from the financial markets can be displayed, alarms can be set and it offers direct access to articles from the MQL5 website.
The Trade Interceptor shines especially in mobile trading and stands out from the mobile MetaTrader 4 platform. The mobile version of the ThinkTrader offers some features that many traders miss in the mobile MT4 platform. Many will appreciate the split screen feature, which allows up to 4 charts to be viewed simultaneously on mobile devices. In addition, there are over 80 drawing tools with which important tools ranging from simple trend lines and pivot points to Elliot Waves for technical analysis can be easily and individually inserted into a chart. In addition, the Trade Interceptor contains more than 80 indicators. It should also not be ignored that the spread when trading with the Trade Interceptor is sometimes significantly lower than in the MT4 platform.
ThinkMarkets Trading Accounts
ThinkMarkets offers traders the choice of two different trading accounts. The advantage of the ThinkMarkets Standard Account is that it allows traders to trade with both the MetaTrader trading platform and the Trade Interceptor. The spread on this account type in Forex trading starts at 0.4 pips and the average is only 1.2 pips on all currency pairs. When trading CFDs, the Spreas already starts at 0.4 points and for metals at 25 cents. The smallest position size in forex trading is 0.01 lot and the maximum position size is 50 lots. The Standard Account does not require a minimum deposit at ThinkMarkets, making it particularly interesting for beginners.
The big advantage of the ThinkZero Account is that the spread in Forex trading on this account starts at 0 pips and the average spread is only fabulous 0.1 pips plus a commission of 3.5 USD per lot and trade side (opening and closing a position). For a forex position with a volume of 1 lot a commission of 6€ would be due, for a 0.1 lot 0.60 USD or for a 0.01 lot only 0.07 USD. For CFD trading, spreads on this account also start at 0.4 points, but at only 8 cents for metals. Another advantage of the ThinkZero account is access to Autochartist, which is a valuable aid for technical analysis. To open a ThinkZero account with ThinkMarkets, a minimum deposit of 500 Euros is required.
The maximum leverage for ThinkMarkets UK under FCA regulation is 30:1 for retail clients and 500:1 for professional clients. Professional clients must prove their qualification under the regulatory guidelines. For ThinkMarkets AU under ASIC regulation, the maximum leverage for all clients is 500:1. For both accounts, ThinkMarkets offers a free VPS service for accounts of a certain size. All orders at ThinkMarkets are executed via Equinix Trading servers in London and Hong Kong, ensuring lightning fast execution. ThinkMarkets also offers the option of an Islamic Sharia compliant account without swap. Customers of the Islamic faith must contact ThinkMarkets Customer Service.
Deposits and Withdrawals at ThinkMarkets
ThinkMarkets does not offer a wide range of payment methods for deposits and withdrawals, but limits itself to the payment options most frequently used in online trading. These are at ThinkMarkets-UK Bank Transfer, Visa and Mastercard, as well as the E-Wallets Neteller and Skrill. Holders of a ThinkMarkets AU account also have the option of making deposits and withdrawals via BitPay with Bitcoin and via POLi.
For deposits on a Standard Account via bank transfer, credit cards and Skrill there is no minimum amount, for Neteller and Webmoney 250 units of account currency and for BitPay 100 $. For ThinkZero accounts the minimum deposit is $500. For withdrawals there is no maximum amount for Skrill and BitPay, by bank transfer and to Neteller and Webmoney there is a maximum of 1,000,000 units of account currency and to credit cards a maximum of 35,000 units of principal currency.
ThinkMarkets Support and Customer Service
ThinkMarkets support is available to traders via telephone numbers from the UK, Australia and Spain. The multilingual customer service is also available from Monday to Friday 24/7 and on Saturdays and Sundays during the working hours indicated in the chat window. You can also contact them via e-mail or via the contact form available on the website.
Screenshot ThinkMarkets Website
ThinkMarkets - Final Rating
ThinkMarkets is a broker with an excellent infrastructure that guarantees traders lightning fast execution of their orders. With the regulation by the ASIC, the FCA and an increased deposit protection up to GBP 1,000,000, ThinkMarkets proves that they attach great importance to a serious customer relationship and security of deposits. With the Trade Interceptor platform, ThinkMarkets provides a trading platform that enables a convincing trading experience especially in mobile trading. But also the low cost of the ThinkZero account, the ability to analyze markets, such as access to AutoChartist's services, and the generally low spreads offer advantages that make ThinkMarkets a popular broker worldwide.