ThinkMarkets Forex Broker Review 2024

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 FCA and ASIC regulations.
• The broker has secured multiple licenses from esteemed global regulators. Notably, ThinkMarkets recently obtained a license from FMA New Zealand, further solidifying its position as a trusted and reputable financial service provider.

ThinkMarkets 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 is also set to make its entry into the public markets through a special purpose acquisition company (SPAC) merger in Canada.

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 trading conditions, as well as social trading and education.

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

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, ThinkMarkets 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.

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:

• Tickmill – Variety of Funding Methods
• Capital Index – Low Spreads and Fees
• Trade.com – Good Trading Instruments

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.

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.

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 are also being segregated from their own company funds, with daily fund reconciliation. Under the FCA entity,  the standard Financial Services Compensation Scheme (FSCS) applies and the clients are covered under the “investments” claim category up to £85,000 per person per firm in case of a broker default. Similarly, under the CySEC entity, the Investor Compensation Scheme (ICF) applies and the clients are covered up to € 25,000.

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 1:2000.

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 is VPS, 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.

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.

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 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 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.

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.

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:

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.

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.

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:

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 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