ThinkMarkets is a leading multi-regulated broker that appeals to both experienced and novice traders alike. It offers traders with an array of trading options in forex and CFDs. Let’s have an complete overview of the platform through this factual ThinkMarkets Review 2023.
The platform has been operating since 2010 making trading accessible to all. The top-notch features make it an excellent choice for advanced traders. Besides, its global presence ensures availability for all.
This ThinkMarkets Review will give a complete overview of the platform in terms of its fee structure, regulatory approvals, services offered, account types, leverage offering and much more.
ThinkMarkets Review: Quick Overview
|Account Currency||EUR, USD, AUD, CHF, GBP, JPY, CAD, NZD, SGD|
|Spreads||From 0.0 pips on ThinkZero, from 0.4 pips on Standard|
What is ThinkMarkets?
ThinkMarkets is a multi-asset online brokerage founded in 2010 by Nauman Anee. The company headquarters are in London and Melbourne.
In addition, it has hubs in Asia-Pacific, Middle East and South Africa, Europe and South America.
The brokerage firm offers traders with a range of products. Also, it has some of the best trading solutions with the industry standard MetaTrader4 and next generation MetaTrader5 platforms. Besides, it has inhouse developed platform – ThinkTrader.
Is ThinkMarkets Scam or Safe?
No, ThinkMarkets is not a scam as its parent organization – ThinkMarkets Group is well-regulated by top-tier regulatory authorities.
The platform is authorised and regulated by the Financial Conduct Authority (FCA) with licence number 629628. It audits the broker annually for proper working and operations.
FCA regulates the working of Think Markets in South Africa, Australia, Europe and North America and other countries.
Also, the Australian Securities and Investment Commission (ASIC) with licence number 424700 regulate the working of ThinkMarkets.
These regulations and good market reputation make ThinkMarkets a great choice for traders.
Trustpilot gives ThinkMarkets a rating of 3.4 out of 5. Some good and bad reviews of the people make it an average choice among traders.
ThinkMarkets Review: Available Trading Instruments
ThinkMarkets offers clients with a range of trading instruments. They can choose the most suitable one and trade to earn high profits. Here are the markets available:
Think Markets provides the world’s largest trading market, forex. It starts the offerings with as low as 0 pips. The available forex currency pairs are:
Also, it offers great pricing, maximum security and disruptive technology.
Indices at Think Markets have flexible pricing with variable spreads that starts from 0.4 points. The available indices are:
Precious metals at Think Markets help traders diversify their portfolio. It offers the major metals like Gold and Silver. These are commission free and have ultra fast execution.
- Competitive spreads
Traders can invest in cryptos 24/7 with tight spreads. The available cryptos are:
With ThinkMarkets, traders can access over 3500 equities and ETFs. These are at competitive prices. Some of the popular share CFDs available are:
ThinkMarkets has CFDs available for trading. These are accessible with:
- Tight spreads
- Zero commission
- Wide range of markets including commodities, energies and indices
- Flexible trading size
Commodities at Think Markets have zero trading commission. It has tight spreads starting from as low as 0.4 pips and available commodities are:
ThinkMarkets: Fees, Commission and Spreads
Trading fees at ThinkMarkets are average in comparison to other market brokers. It has two account types for trade execution, Standard account has trading cost in spreads while ThinkZero account offers tight spreads and has small commission per trade.
Also, the platform has not made available individual spreads and data of currency pairs. Below, we have the Think Markets minimum deposit, trading cost, commission and spreads for the account types:
|Trading Account||Minimum Deposit||Minimum Spread (EUR/USD)||Commission||Trading Cost (USD)|
|ThinkZero||$500||0.10||$7 per lot||8.0|
ThinkMarkets: Deposit and Withdrawal Methods
Deposit and withdrawal are significant for convenient trading. At Think Markets traders can easily deposit their funds with no minimum deposit requirement.
Also, withdrawal at the platform is simple. For deposit and withdrawal, traders can use the following methods:
- Bank Wire
- Credit/Debit Card (Visa and Mastercard)
Traders can deposit the funds using the ThinkPortal facility, a secure client area. There traders can select funding and go for funds deposits.
Then traders select the account number and the desired method of payment. There is no minimum deposit and minimum withdrawal requirement at the Think Markets platform.
The minimum deposit in South Africa is $0 and for other countries as well. It is so as Think Markets does not have any minimum deposit or withdrawal limit.
For withdrawals ThinkMarkets traders can follow the given steps:
- Select funding and then withdraw in the ThinkPortal
- Select the online step of choosing trading account
- Choose withdrawal method and enter the amount
- Withdrawal requests are processed within 24 hours during the week
So, traders can easily deposit and withdraw their funds at Think Markets.
ThinkMarkets Review: Available Trading Account Types
In ThinkMarkets review, we did a complete analysis of the broker and its facilities. So, talking about the trading accounts at the platforms, traders won’t be disappointed. It has two trading account types; Standard and ThinkZero.
Also, traders can have the facility of a demo and Islamic account.
Here we have the comparison of two major account types:
|Features||Standard Account||ThinkZero Account|
|Forex Spreads||From 0.4 pips||From 0 pips|
|Average FX spreads||1.2 pips||0.1 pips|
|Metals Spreads||From 25 cents||8 cents|
|Commission||None||$3.5 per side|
|CFDs Spreads||From 0.4 points||From 0.4 points (no commission)|
|Minimum operating balance||0||500|
|Lot Size||1.0 (100k)||1.0 (100k)|
|Maximum tradable size||50 lots||100 lots (XAUUSDx & XAGUSDx remain at 10)|
|Minimum stop-loss/take profit levels||None||None|
|Server locations||LD5 and HK4||LD5 and HK4|
|Platforms||ThinkTrader, MT4 and MT5||MT4 and MT5|
|24/7 live support||Yes||Yes|
|Free VPS service||Yes||Yes|
- Traders following Sharia law can use Islamic accounts for trading at Think Markets.
- Besides, there is the facility of a joint account for trading of two or more people.
- ThinkMarkets demo account is available for practising and building strategies with virtual funds.
How to open an account with ThinkMarkets?
The account opening process at ThinkMarkets is completely digital. Traders can have access to their account within 48 hours. Below we have the steps to open an account at Think Markets:
- Traders have to first visit the website, www.thinkmarkets.com and then click on the create account tab.
- Then they have a new page on their screen, where traders have to fill in the details like country of residence, nationality and choose from a yes or no option for citizens or tax resident in the country selected. Also, traders have to tick mark the declaration regarding terms and conditions of the platform.
- Once they complete the registration, traders have to click on next and fill in personal details like name, email address, date of birth, and then choose a password.
- Also, traders get the option to choose the trading platform they wish to trade with.
- The next step is completing the financial details.
- Then the broker verifies the trader which usually takes 48 hours. For verification traders will require proof of identification and address.
So, the account opening process is hassle free and gives traders access within 48 hours. They can easily have their Thinkmarket login. They can quickly enter the credentials and login ThinkMarkets account. ‘
Read Also- INDmoney Review
Leverage Trading at ThinkMarkets
Leverage trading is to borrow loans from the broker. ThinkMarkets provides its traders with maximum leverage of 1:500. Traders can open their account and use leverage to open high market positions.
ThinkMarkets Review: Trading Platforms
Traders at the Think Markets have three top-level trading platforms. These platforms are discussed below:
MetaTrader5 is an upgraded version of MetaTrader4. The next generation trading platform has rich features and is easy to download. Traders can use MT5 for state-of-the-art-features.
It has many additional advantages such as:
- 21 time frames
- 6 pending order types
- Multi-thread strategy tester for Expert Advisors
- $1000,000 INSURANCE
- Free VPS hosting
- Spreads from 0 pips
MetaTrader4 is the first software developed by MetaQuotes in 2005. It is a leading forex and CFD trading platform globally allowing traders customisation and technology experience.
The services of MT4 are:
- Tools and indicators
- Advanced app
- Instant execution
- Razor thin spreads
- $1 million client insurance
- Easily downloadable on mobile app, desktop and web
ThinkTrader is the in-built trading platform of Think Markets. As per the ThinkMarkets review, it is an award winning trading platform. The analytics and intuitive features of the platform make it worth trading.
The facilities of ThinkTrader are:
- Smarter positions and displays
- Better tools and reporting
- More accessibility and support
Comparison of ThinkTrader, MT4 and MT5
|Partial order filling||Yes||No||1.56|
|Pending order types||6||4||6|
|Depth of market (mobile)||Yes||No||Yes|
|Time & Sale (mobile)||Yes||No||Yes|
|Transfer funds (mobile)||Yes||No||Yes|
|Search by asset class||Yes||No||No|
ThinkMarkets provides clients with easy to use mobile applications. Traders can download it on their mobile devices and access the market anywhere. The mobile app has all the features available on desktop websites.
Android and iOS users can download it on their mobile using App store and play store. Then they can install it, enter the Think Markets login credentials and use the mobile app easily.
ThinkMarkets Review: Learn to Trade
Traders at ThinkMarkets can have a learning facility. They can improve their knowledge about financial market aspects using the tools available at the platform. In learn to trade section at the platform’s website, traders can access these learning services:
- Trading for beginners
- Intermediate trading tutorials
- Advanced trading tutorials
- Articles for traders
- Indicators and chart patterns
- Trading glossary
- Knowledge base
ThinkMarkets Review: Customer Support
Traders at ThinkMarkets can connect with the team using the following customer support options:
- Live chat
- Get in touch form
- Email address: [email protected]
- Contact numbers of UK, Australia, Australia local, spain and Italy
ThinkMarkets Review: Pros and Cons
Think Markets review led us to the following pros and cons of the broker:
|Low spreads||No retail investor account|
|Trading accounts||No bonuses or promotion|
|Various payment methods|
|Zero ThinkMarkets minimum deposit|
|Allows copy trading|
Read Also- Trade245 Review
InvestFW is a good alternative to ThinkMarkets. The platform is regulated with the best authority available, Cyprus Securities and Exchange Commission (CySEC). The platform has a range of facilities to support traders.
Trading tools, advanced features, range of products and services. The platform is legit with 200+ assets, CFDs trading on forex pairs, indices, cryptocurrencies, stocks, metals and commodities.
The broker is available 24 hours to support its clients. It has high security and trading conditions for its clients. Thus, making trading accessible and comfortable.
Overall, ThinkMarkets is a good trading platform as per our ThinkMarkets Review 2023. Traders can easily open their trading account and make investments in a range of financial instruments. The platform has facility of leverage, trading platforms, educational support, 24 hours customer services and easy deposit and withdrawals.
Besides, the commission is also low at the platform. Traders can consider it for profitable trading online and get the best support.
What products do ThinkMarkets offer?
Think Markets provides the following products:
- Equities and ETFs
Is ThinkMarkets a legit broker?
Yes, Think Markets is a legitimate broker. It is a multi-regulated broker with regulation of FCA, ASIC and FSCA.
Is ThinkMarkets regulated in South Africa?
Yes, ThinkMarket is regulated in South Africa. The Financial Conduct Authority (FCA) regulated it.
What is ThinkMarkets?
ThinkMarkets is a regulated trading broker. It provides the best trading services online such as trading tools, educational support, trading platforms, easy account opening and deposit and withdrawal methods.
Does ThinkMarkets broker provide demo account?
Yes, Think Markets broker offers demo account services.
What are the customer services at Think Markets?
The customer services at Think Markets include:
- Email address: [email protected]
- Contact number of various countries offices
- Live chat
- Get in touch form
What trading platforms are available at ThinkMarkets?
ThinkMarkets provides the following three trading platforms: