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ThinkMarkets Review – Market Maker

ThinkMarkets is a multi-regulated broker that specialises in foreign exchange and contract for difference trading. Users may select between the MetaTrader 4 and 5 platforms, as well as the broker’s own ThinkTrader platform. As a result of this, as well as cheap trading costs and a product selection of over 1500 products, the ThinkMarkets group is appealing.

We’ll go through the login procedure, client portal features, and more in this review.

Nauman Anees, the CEO, established ThinkMarkets in 2010. Think Capital Limited, a Bermuda-based corporation with offices in Melbourne and London, owns the group.

Since 2010, the online broker has grown to a membership of 550,000 in 180 countries, including Indonesia, Egypt, the United Arab Emirates, and Bulgaria. ThinkMarkets made headlines in 2018 when it raised £100 million in an initial public offering on the Australian Securities Exchange, enabling Australian investors to participate in the growing financial technology industry.

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    ThinkMarkets Review

    ThinkMarkets Regulation

    TF Global Markets UK Ltd is regulated by the Financial Conduct Authority and is additionally regulated by the Australian Securities and Investments Commission, the South African Financial Services Conduct Authority, and the Seychelles Financial Services Authority.

    Negative balance protection is provided by the broker to prevent customers from losing more than their initial deposits. Additionally, ThinkMarkets offers a £1 million insurance policy.

    We are generally pleased with the broker’s regulatory compliance and integrity.

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    Customer Service

    Customer service specialists at ThinkMarkets are accessible 24 hours a day, seven days a week in several languages. 

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    • They may be reached through email at support@thinkmarkets.com.
    • In the United Kingdom, Number – +44 203 514 2374
    • Australia – +61 3 9093 3400.

    Both the website and the mobile app include live chat.

    Additionally, the broker’s website has a self-service FAQ customer portal and an online inquiry form.

    Trading Platforms

    It is compatible with the most widely used Forex trading platforms, MT4 and MT5, as well as ThinkMarkets’ own ThinkTrader platform.

    ThinkMarket developed its own platform after acquiring Trade Interceptor, an award-winning trading platform in its own right. ThinkTrader supports in-app deposits and withdrawals, real-time news from FX Wire Pro, and one-click multiple order closure on mobile, tablet, and desktop.

    Additionally, it comes with more than 80 indicators and 50 chart types, as well as the TrendRisk scanner, which helps traders in spotting opportunities across several time periods.

    The MT5 platform is the most recent iteration of the widely used MT4 platform. It appeals to more experienced traders in particular due to its sophisticated trading tools and analytical capabilities.

    Users now have access to an expanded set of technical indicators and timeframes, as well as an improved strategy tester for expert advisors and an integrated economic calendar.

    Trading Costs

    In terms of trading costs, ThinkMarkets came out on top. Spreads are changeable and start at zero pips, with typical spreads of 0 pips and 0.4-0.5 pips on popular currency pairings such as the EUR/USD and GBP/USD on the Thinkzero account, respectively.

    The ThinkZero spread account costs a fee of $3.5 per $100,000 side. This fee is solely applicable to foreign exchange and metals trading, and ThinkZero accounts are accessible on the MetaTrader 4 and MetaTrader 5 platforms.

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    ThinkMarkets reserves the right to impose an inactivity fee in the event of inactivity.

    There are no swap rates available that traders will appreciate.

    ThinkMarkets Trading Conditions

    Leverage limits are determined by account type and ThinkMarkets organisation.

    • Forex – 1:500
    • Indices – 1:200
    • Commodities – 1:200.
    • Cryptocurrency – 1:10

    Ascertain that you have sufficient funds in your account to withstand a margin call.

    Due to regulatory restrictions, traders from Europe, the United Kingdom, and Australia are only allowed to use 1:30 leverage.

    Account Types

    ThinkMarkets is well-known for its two popular retail accounts:

    Standard accounts have an average FX spread of 1.2 pips, no fees, no minimum deposit, and a transaction size limit of 50 lots.

    ThinkZero provides an average FX spread of 0.1 pips, a per-side fee of $3.5/£2.5, a £500 minimum deposit, and a maximum transaction size of 100 lots.

    The broker operates primarily as a market maker and does not follow an ECN model.

    ThinkMarkets’ trading hours are determined by the market’s regular opening and closing timings. As a result, the majority of FX and index trade will take place Monday through Friday. The broker’s website includes contract-specific operating hours.

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    ThinkMarkets Funding and Payment

    Numerous deposit options are available for funding your account:

    • Bank transfer — Processing time is estimated to be between 1 and 3 business days.
    • Credit and debit cards — Processing time should be instantaneous.
    • Skrill – Processing time estimate: up to ten minutes
    • Neteller’s processing time is anticipated to be up to ten minutes.
    • Bitpay – Processing time is estimated to be between five and ten minutes.

    There is no minimum deposit requirement for the Standard account, however the ThinkZero account needs a $/£500 deposit.

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    The withdrawal and deposit procedures must be identical for security reasons. Withdrawals are usually completed within 24 hours, but may take up to seven days in certain cases.

    The minimum withdrawal amount for bank transfer withdrawals is $/£100. ThinkMarkets has no fees for deposits or withdrawals.

    Verdict

    ThinkMarkets is an outstanding platform for forex and CFD trading. The organisation is ideal for both novice and expert traders, as it offers a variety of trading platforms, hundreds of goods, and cheap costs.

    Additionally, the broker is well-regulated and has a lengthy history of good client feedback from all around the globe.

    ThinkMarkets is not accessible to traders based in the United States of America, Canada, Japan, Belgium, or Russia.

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