ThinkMarkets Review

ThinkMarkets

ThinkMarkets

www.thinkmarkets.com

  • Leverage: 1:30 | 1:200

  • Regulation: FCA, ASIC, FSCA, FSA, CySEC

  • Min. Deposit: $0

  • HQ: UK, Australia

  • Platforms: MT4, MT5, ThinkTrader

  • Found in: 2010

ThinkMarkets Licenses

  • TF Global Markets Limited - authorized by FCA (UK) registration no. 629628 
  • TF Global Markets Pty Ltd - authorized by ASIC (Australia) registration no. 424700 ABN: 69158361561
  • TF Global Markets (Pty) Ltd - authorized by FSCA (SA) registration FSP No 49835 
  • TF Global Markets Int Limited - authorized by FSA (Seychelles) registration no. 8424818-1
  • TF Global Markets (Europe) Ltd - authorized by CySEC (Cyprus) registration no. 321503

Top 3 Forex Brokers

  1. What is ThinkMarkets?
  2. ThinkMarkets Pros and Cons
  3. Awards
  4. Is ThinkMarkets Safe or a Scam?
  5. Leverage
  6. Accounts
  7. Trading Instruments
  8. Fees
  9. Spreads
  10. Deposits and Withdrawals
  11. Trading Platform
  12. Customer Support
  13. Education
  14. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about ThinkMarkets.

What is ThinkMarkets?

ThinkMarkets is a popular multi-regulated broker providing access to trade Forex and CFD instruments, with good trading solutions and a technology base.

  • Since its launch in 2010, the company rapidly grew and took the brand name ThinkMarkets while also improving client security under FCS and ASIC regulations.

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

ThinkMarkets Pros and Cons

ThinkMarkets is a regulated broker with top-tier licenses for safety from FCA and ASIC. There is a good range of trading platforms and a wide instrument selection including Forex, Cryptocurrencies, and more. ThinkMarkets provides good PAMM and MAM trading conditions, also social trading and education.

For the Cons, conditions vary in each entity and instruments are mainly CFDs.

AdvantagesDisadvantages
Fully regulated broker in various jurisdictionsConditions may vary according to regulation and entity
Globally recognized and multiple awarded broker
Great technical solution and platform selection
Social trading MAM and PAMM options
Competitive costs and commissions
Excellent support, learning and research tools

ThinkMarkets Review Official Website

ThinkMarkets Review Summary in 10 Points
🏢 HeadquartersUK, Australia
🗺️ RegulationFCA, ASIC, FSCA, FSA, CySEC
🖥 PlatformsMT4, MT5, ThinkTrader
📉 InstrumentsFX pairs, CFDs, Cryptocurrencies, Indices, Metals, Commodities, and Share CFDs
💰 EUR/USD Spread0.1 pips
🎮 Demo AccountAvailable
💰 Base currenciesUSD, GBP, EUR
💳 Minimum deposit$0
📚 EducationProfessional learning center, and research
☎ Customer Support24/7

Overall ThinkMarkets Ranking

ThinkMarkets is considered a good broker with safe and favorable trading conditions with transparency. The broker offers a range of trading services designed for all level traders with low trading fees. As one of the good advantages, Capital Index is available in many countries, so traders can sign in also with the lowest spreads.

  • ThinkMarkets Overall Ranking is 9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingThinkMarkets Capital IndexTickmill
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesSpreadsTrading ConditionsTrading Platforms

ThinkMarkets Alternative Brokers

ThinkMarkets offers good trading conditions, also low trading spreads, and fees. However, there are a number of other brokers that offer similar services. Here are some of the best alternatives to ThinkMarkets:

Awards

Throughout its constant development, ThinkMarkets has grown rapidly so that the broker has been recognized by industry publications and keeps on adding new awards to its lists.

ThinkMarkets Review Awards

Is ThinkMarkets Safe or Scam?

No, ThinkMarkets is not a scam. The broker is a multiply regulated broker including top-tier regulations FCA, and ASIC. It is secure and low-risk to trade FX and CFD with ThinkMarkets.

Is ThinkMarkets Legit?

Yes, ThinkMarkets is a legit and regulated broker in various jurisdictions. The broker is fully regulated by the Australian ASIC as well as authorized and regulated by the FCA of the UK.

Besides, African region is covered as well, since ThinkMarkets acquired brokerage and is fully regulated by the local FSCA in South Africa.

See our conclusion on ThinkMarkets Reliability:

  • Our Ranked ThinkMarkets Trust Score is 9 out of 10 for good reputation and service over the years, also for a reliable top-tier license. The only point is that regulatory standards and protection vary based on the entity, and one of the regulations is in the offshore zone.
ThinkMarkets Strong PointsThinkMarkets Weak Points
Regulated broker with a strong establishmentOffshore entity for international offering
FCA and ASIC license and overseeing
Negative balance protection
Global coverage

How Are You Protected?

The regulatory status in simple words means a client is treated fairly according to international laws and requirements, while traders’ 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 their 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 Review License

Leverage

Leverage is indeed an important tool, especially for retail traders of smaller sizes. 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 FCA regulation since the authority.
  • Australian traders may use 1:30 leverage for Forex instruments.
  • For South African traders’ the maximum leverage is 1:200.

Yet, make sure to learn deeply how to use leverage smartly and not to fall under unpleasant circumstances and high risk.

Account Types

ThinkMarkets offers two account types: Standard and ThinkZero accounts. A free Demo account is also available to practice the experience.

The standard account is offered with no commission and the choice to choose from the fixed or variable spread, and also with free VPS service.

The higher account class comes to the ThinkZero designed for active traders, with a commission of USD 3.5 per side. Among the ThinkZero benefits with lower spread and commission per trade, there are VPS and Autochartist, as well as a dedicated account manager that is provided free of charge.

  • In addition, ThinkMarkets also offers Swap-free or Islamic accounts to its Islamic clients, in order to comply with Sharia law while trading.
ProsCons
Fast account openingConditions may vary according to entity
Standard account and commission-based ThinkZero account
Demo account is available
Various account base currencies USD, GBP, EUR

How to Open ThinkMarkets Live Account?

Opening an account with ThinkMarkets is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:

  • Select and Click on the “Create Account” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by upload of documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

ThinkMarkets Review Accounts

Trading Instruments

ThinkMarkets offers to discover hundreds of markets to trade and constantly increases its range. Based on our research, the offer includes over 40 major, minor and exotic FX pairs, Cryptocurrencies, Indices, Metals, Commodities, and Share CFDs.

The crypto trade offers some of the best market conditions to trade – Bitcoin, Ethereum, Ripple, Dash, and more.

  • ThinkMarkets Markets Range Score is 8.9 out of 10 for wide trading instrument selection among Forex, Metals, Indicies, and more.

ThinkMarkets Review Trading Instruments

ThinkMarkets Fees

ThinkMarkets fees depend on the account types the traders chose. ThinkZero account’s first deposit amount is $500 as the first deposit, while the Standard account’s minimum amount is $0 as a trading cost.

  • Apart from the general offering to retail clients, the brokers 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.

Also, consider an overnight fee or swap as a trading cost in case you hold your position past midnight server time. As an e.g., EUR/USD swap for a long position is -2.5% while the short one will add 2.5% to your account.

  • ThinkMarkets Fees are ranked low with an overall rating of 8.5 out of 10 based on our testing and compared to over 500 other brokers.
FeesThinkMarkets FeesCapital Index FeesTickmill Fees
Deposit feeNoNoNo
Withdrawal feeNoNoNo
Inactivity feeYesYesNo
Fee rankingLowLow, averageLow

Spreads

From the ThinkMarkets benefits, the major ones provide clients with the tightest possible spreads, even under volatile market conditions, from as low as 0.1 pips on EUR/USD. Conditions depend on the account type traders select since the Standard account offering spread only basis from 0.4 pips and averages around 1.2 pips.

While ThinkZero account is more suitable for professional trading, demanding $500 as the first deposit and offering spreads from 0.1 pips with a commission of $3.5 per side as a trading cost.

  • ThinkMarkets Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower, and spreads for other instruments are very attractive too.
Asset/ PairThinkMarkets SpreadCapital Index SpreadTickmill Spread
EUR USD Spread0 pips1.1 pips0.3 pips
Crude Oil WTI Spread474
Gold Spread60.520
BTC USD Spread1-12

ThinkMarkets Review Spreads

Deposits and Withdrawals

ThinkMarkets has designed client accounts management via ThinkPortal that allows to deposit or withdrawal of funds, updating personal information, setting up additional accounts, receiving updates, or viewing recent transactions.

The most common payment methods include Debit/Credit card payments, Bank wire, and more. We found that third-party deposits and withdrawals are prohibited.

  • ThinkMarkets Funding Methods we ranked good with an overall rating of 8.5 out of 10. The minimum deposit is among average in the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies, yet deposit options vary on each entity.

Here are some good and negative points for ThinkMarkets funding methods found:

ThinkMarkets AdvantageThinkMarkets Disadvantage
$0 deposit requirementConditions may vary according to entity rules
Fast digital deposits
Accounts managed via ThinkPortal
No internal deposit or withdrawal fees
Multiple account base currencies
Withdrawal requests confirmed within 24 hours

Deposit Options

In terms of funding methods, ThinkMarkets offers a few payment methods which are a very good plus, yet check according to its regulation whether the method is available or not.

  • Credit/Debit cards
  • Bank wire
  • Skrill
  • Neteller
  • Perfect Money

ThinkMarkets Minimum Deposit

ThinkMarkets has no minimum deposit requirement for Standard account type. For ThinkZero account, the minimum deposit is $500. However, be sure to verify conditions according to entity rules, as methods and fees may vary.

ThinkMarkets minimum deposit vs other brokers

ThinkMarkets Most Other Brokers
Minimum Deposit $0 $500

ThinkMarkets Withdrawals

Withdrawing funds from ThinkMarkets account is quick, simple, and hassle-free. What is also great, there are no charges for deposits or withdrawals which is definitely a good plus for future trading performance.

How Withdraw Money from ThinkMarkets Step by Step:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

Trading Platforms

ThinkMarkets provides clients access to the financial markets via the popular MetaTrader 4 and MetaTrader 5 trading platforms, and the proprietary trading platform ThinkTrader, which is available for desktop and mobile versions. MT5 is now available to access from the browser too, without the need to download the platform.

  • ThinkMarkets Platform is ranked good with an overall rating of 9.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers popular MT4 and MT5 professional trading platforms.
Trading Platform Comparison to Other Brokers:
PlatformsThinkMarkets PlatformsCapital Index PlatformsTickmill Platforms
MT4YesYesYes
MT5YesNoYes
cTraderNoNoNo
Own PlatformYesNoNo
Mobile AppsYesYesYes

Desktop Platform

Both MT4 and MT5 trading platforms feature high-end services for ultra-fast trade execution as well as bring benefits from institutional-quality apps, indicators, and insights powered by progressive add-ons and additional features.

While ThinkTrader performs multi-device trading with 80 indicators, 50 drawing tools and 14 chart types, and up to 200 cloud-based notifications at no charge. Expert Advisors are offered with no restrictions and also stop loss and other risk management tools due to the high risk involved are included.

Web Trading Platform

Of course, all platforms are also available through Web Versions, so you can easily access the trading room right from the browser with no installations.

In addition, ThinkMarkets MT4 is a mobile-optimized platform packed with tools to support every trading style.

ThinkMarkets Review Trading Platforms

Customer Support

While considering ThinkMarkets customer support, we found a professional team available 24/7 and supporting international languages accessible via Live chat, Email, and Phone lines in various regions.

  • Customer Support in ThinkMarkets is ranked good with an overall rating of 9.2 out of 10 based on our testing. We got fast and knowledgeable responses, also quite easy to reach during the working days and weekends.

See our find and ranking on Customer Service Quality:

ProsCons
24/7 customer supportNone
Quick responses
Relevant answers
International support
Live chat, international phone lines, and email

ThinkMarkets Education

ThinkMarkets offers support for new traders and seasoned ones through a comprehensive learning center with free trading guides and webinars that covers both technical and fundamental analysis, the economic calendar, and also market psychology.

  • ThinkMarkets Education ranked with an overall rating of 9 out of 10 based on our research. The broker provides very good quality educational materials, and excellent research also cooperates with market-leading providers of data.

ThinkMarkets Review Education

ThinkMarkets Review Conclusion

Overall, ThinkMarkets from many perspectives is a great offer in technology, reliability, customer service, and pricing. With its every day strives to offer even more to its clients, to bring the best and the latest innovations obviously places the broker among the popular choices.

Based on Our findings and Financial Expert Opinions ThinkMarkets is Good for:

  • Beginners
  • Advanced traders
  • Traders who prefer MT4 and MT5 trading platforms
  • Currency and CFD trading
  • Low spread trading
  • Competitive fees
  • Variety of trading strategies
  • Supportive customer support
  • Good educational materials
  • A UK Brokerage ThinkMarkets acquires license from the FSCA

    ThinkMarkets has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African investors. 2010 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...

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4 responses to “ThinkMarkets”

  1. due to several errors in the system of this company, we had several losses. we tried several times to obtain compensation from the company but there was no success. the company uses its australian structure, provides forms and documents from australia, this also characterizes the intentional error because when making the contract they use a Bermuda company in which there is no legal support. attached are documents that prove these problems. This process is being filed in accordance with the ASIC instructions received by email on 07/01/21. Below we summarize the problems that occurred. We’ve been dealing and negotiating with over 100 clients, because we had many problems and system with Thinkmarkets. So at this stage we need to negotiate something that takes al of them in consideration: MT5 ACCOUNT 10486 -attachment with the explanatory file PAMM 10876592 – attachment with the explanatory file PAMM 10876116 – had $353.401 when, after confirmation that we could approve more money, got “Stopped Out” (clients had 95% losses in their personal accounts). We were told that a good wi l Credit would be added, but that didn’t help anything at a l in restoring their Balances. PAMM 10876117 – Had over $270.000 when huge problems with Spreads increasing over 500% on hedged positions caused margin cal on it. PAMM 10876436 – had $199.882 when Dax had Major Slippages and prevent our Expert Advisor to close positions and open new ones, causing a Margin Cal. PAMM 10876446 – Had $184.556 and had the same problems as 6436, trading Dax had huge slippage, increased spreads and open/close order errors. The main executive of ThinkMarkets, who was responsible for structuring the partnership with me and my nominees, Mr. Marcelo Spina, left the company in 2020 and this also contributed to the non-response of al these complaints and losses that occurred.

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