Summary

ThinkMarkets is an online brokerage firm established in 2010. It has a global reach and provides services in the Middle East, North Africa, South America, Europe, and Asia-pacific – essentially anywhere the jurisdictions or laws of the country legalise the use of the brokerage platforms for trading. Its headquarters are in London, United Kingdom, and Melbourne, Australia.

For its non-English users, ThinkMarkets offers 15 different languages ranging from Spanish to Greek to expand the reach of its trading platform. It is regulated and authorised in the UK, Australia, and Seychelles by the Financial Conduct Authority (FCA), Australian Investments and Security Commissions (ASIC), and the Financial Services Authority (FSA) respectively. The broker claims to only partner with trustworthy financial institutions like Lloyd’s of London when it comes to managing clients’ funds.

The broker has myriads of assets available to diversify your portfolio, including forex, cryptocurrencies, stocks, and many more. Educational articles on the website and video tutorials on the official YouTube page are designed to address issues plaguing both beginners and experts in this field.

Clients have access to three trading platforms – MT4, MT5, and ThinkTrader – and can choose from more than 2 account types. The different accounts serve different purposes to best suit the needs of the broker’s wide consumer base.

In this review, we will explore ThinkMarkets’ Pros & Cons, Regulations, Supported Countries, Deposits & Withdrawals, Account Types, Leverage, Spreads, Educational Materials, Customer Support, Users’ Reviews, Account Opening Procedure, Other Products and Services, Trading Fees & Commission, Trading Platforms, and Payment Methods in great detail.

Regulations

Trading with an authorised and regulated broker with offices registered worldwide, ensures the legitimacy and trustworthiness of the platform. Below are the different entities of the broker along with their necessary details:

TF Global Markets International Limited: This entity is authorised and regulated by the Financial Services Authority (FSA), and located at CT House, office 9B, Providence, Mahe, Seychelles.

• Firm Reference Number: SD060

• Company number: 8424818-1

Think Capital Limited: It is registered in Bermuda, with its office at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. .

• Company number: 51879

TFG (Payments) Limited: This is a corporate entity registered in the United Kingdom. It has its office at Hana, 4th Floor, 70 St Mary Axe, London EC3A 8BE.

• Company number: 10537331.

Think Capital Services UK: It is based in the United Kingdom at Hana, 4th Floor, 70 St Mary Axe, London, EC3A 8BE.

• Company number: 11054653

TF Global Markets (Aust) Pty Ltd: It is a subsidiary of ThinkMarkets and is the holder of Australian Financial Services Licence. It is located at Level 18, 357 Collins Street, Melbourne, VC, Australia 3000.

• Licence number: 424700.
• ABN: 69158361561.

Supported Countries

The broker operates in various regions of the world, not limited to the United Kingdom, Europe, and Australia. Moreover, they offer 15 different languages to enable international traders to comfortably trade on the platform in their preferred language. The languages include English, Spanish, Greek, Chinese (Traditional & Simplified), Czech, German, Indonesian, Italian, Malay, Polish, Thai, Arabic, Vietnamese, and Portuguese.

Available Assets

ThinkMarkets provides 3,600+ CFD trading instruments, including Forex, Cryptocurrencies, Commodities, Indices, and Stocks.

Cryptocurrencies

On ThinkMarkets, 25+ cryptocurrencies are available to trade and are quoted in the US Dollar. Users will be able to speculate on value increases or decrease in their respective preferred cryptocurrency. Bitcoin, Ethereum, Litecoin, and Monero are just a handful of major cryptocurrencies that can be traded on the broker’s platforms (ThinkTrader, MT4, and MT5) using pre-existing accounts.

Stocks

The broker has 3,440+ equities to choose from, at record competitive rates – minimising costs for its clients as much as possible. Its robust trading platforms will enable you to efficiently keep track of your trading history, and ensure the seamless execution of orders. If users hold a standard account, they will be able to avoid all commission fees when trading stocks. The broker has a wide collection of stocks for clients to trade, and they include Amazon, Apple, Facebook, Google, Alibaba, and many more.

In addition to trading stock CFDs, Australians will be able to purchase and invest in any Australian stock of their choice via ThinkMarkets Australia. The broker provides them with access to 3,100+ ASX and Chi-X shares, with a flat fee brokerage of only $8 per trade (provided that the trade value does not exceed $200,000). However, it is worth mentioning that other non-Australian stocks like Apple etcetera are available for CFD trading but not investing.

Commodities

Commodities are not only financial instruments but resources too. At ThinkMarkets, clients have access to both hard and soft commodities, numbering 13+. Precious metals like gold, silver, platinum, and copper are available to account holders, as are oil, gas, and agricultural commodities like soybeans, wheat, etcetera to give clients a more diverse portfolio.

Indices

Indices are used to keep track of performance levels in a country’s economy or even a specific market sector; they are made up of a number of shares. The broker offers Indices CFDs to its clients. Account holders can take positions on 25+ indices, including US30, UK100, GER30, and many more.

Forex

The company has 45+ currency pairs – major, minor and exotic. Users are free to trade any currency pair they wish to trade, with spreads as low as 0 pips (on a ThinkZero account). It offers EURUSD, GBP/USD, AUD/USD, USD/CHF, USD/JPY, USD/CAD, and many more currency pairs.

ETFs

An ETF is a collection of assets (inclusive of stocks, commodities etcetera) packed into a single financial instrument that, just like a share, can be traded on an exchange. ThinkMarkets offers 325+ ETFs to its customers. BetaShares FTSE 100 ETF, iShares S&P 500 ETF, and VanEck Vectors Small Companies Masters ETF are just a few examples of ETFs the broker offers on its platform.

Spreads

ThinkMarkets traders are charged a very tight spread when compared with the mean spread rate of the market. The spread rates are also variable due to changing market conditions. Its spreads, even with high volatility in the market, can start from as low as 0 pip on EUR/USD.

Leverages

Leverages vary depending on the type of financial instrument you are trading and also on your account balance and the region of your country. The higher a client’s account balance, the lower the maximum leverage. Leverages are known for their disproportionate rewards and risks; these maximum leverage levels were introduced to protect client assets from excessive risk.

The maximum leverage on different categories of trading assets in different regions are as follows: Forex pairs have leveraged up to 1:30 for UK & European clients, and up to 1:500 for international clients. Indices can be traded with leverage up to 1:20 for clients in the UK and Europe, while international clients can use up to 1:200 leverage. Commodities like oil have a leverage up to 1:10 in the UK & Europe, and up to 1:100 in South Africa. Gold can be traded with a leverage up to 1:20 in the UK and Europe, while international clients can use up to 1:400 leverage. Cryptocurrencies have a leverage up to 1:2 for European clients and up to 1:50 for international clients. Shares and ETFs have a leverage up to 1:5 in the UK and Europe, and up to 1:10 for international clients.

The Following table shows the minimum Spread on Forex pairs and minimum spread on Commodities alongside maximum leverage on both Standard and Thinkzero accounts.

(*) signifies the average spreads of the trading instrument.

Fees & Commissions

Trading Fees

Spreads

The broker does not offer any fixed spreads, which would require interfering with market forces or client orders. All tradable assets on its platform have variable spreads.

Commission

ThinkMarkets has a relatively simple fee structure that is dependent on the type of account you have. With a standard account, you are not required to pay any commission. However, with a ThinkZero account, a $3.5 in commission will be charged per side (100,000). Do note that this commission only applies to trade involving FX and metals as outlined on its website.

Rollover rate/swap fees

Swap/Rollover fees are charged when you keep a position open overnight. They can either be incurred or earned by a holder of a forex contract, meaning that the swap fees can be either positive or negative. If you are in the position of earning interest from the contract – it will be referred to as a positive swap. On the flip side, a negative swap is where the holder of the contract incurs interest on the contract.

The company’s swap rates are calculated each day at 4.59 pm New York time/11.59 pm MT4 platform time (GMT+2) (timings may vary due to any holidays). Swap rates will be charged on trades that have been opened before 4.59 pm and held open past this time.

Non-Trading fees

The broker does not charge its users any withdrawal or deposit fees usually. However, if a client with minimal trading activity requests a withdrawal, the broker reserves the right to investigate and/or impose fees on the client. There are also no download, setup, or subscription fees associated with downloading the trading platforms.

Inactivity fee

ThinkMarkets reserves the right to charge an inactivity fee, in case there was no trading activity detected in your account for at least 90 days.

Trading Platforms

ThinkMarkets offers ThinkTrader as its trading platform and is available on desktop and mobile devices. We will discuss more about the details of each platform in this section:

Desktop Trading Platform

The desktop-trading platform has been designed to make trading easier and hassle-free for traders with varying levels of experience. Features like custom charts, automatic alerts, and economic calendars simplify the process of trading.

Custom Charts

The desktop-trading platform will allow you to easily customise your charts with indicators, grids, and period separators. Furthermore, the charts can be displayed as either candlesticks, price bars, or even line charts to reflect trading conditions in the most comprehensible way. Once you have tweaked the settings here and there to create a chart that best suits your needs, you can easily save it as a template. By right-clicking on the chart, it is also possible for you to save the template as your default chart.

Alerts

If you’ve dipped your toes into various markets, it can be quite hard to keep track of all of them. The platform will allow you to set up alerts so that no significant events are missed.

Economic Calendars

With all markets tending to follow their own designated paths, it has never been more important for traders to keep up with the latest news on anything that might even slightly impact their choice of asset. Economic calendars make sure that you keep up with the upcoming news events.

How to open a live account using ThinkMarkets Desktop Trading Platform?

1. Go to the official website, ThinkMarkets.com, and click on ‘create account.’
2. Select the “Create a live account” option.
3. First, choose your country of residence and nationality. Then, answer the next question on your residency status with either a yes or no.
4. Enter your first and last name as it appears on your official ID. Follow it up with your date of birth.
5. You will then be asked to enter an insurance number (if the country of residence selected provides one) which is optional. After that, you will need to enter a verifiable email address and create a password for yourself that is in agreement with the rules listed above.
6. ThinkMarkets will send you a one-time 6 digits code in your email. Enter that here and click on ‘Submit’ to proceed.
7. Select the right country code and enter your phone number. Then fill in details about where you live.
8. Choose the platform on which you would like to trade.
9. Enter details about your employment status, annual income, and value of savings & investments in USD.
10. Here, select the number of years of experience you have trading Forex, CFDs, securities, and bonds.
11. To complete the process, you will have to upload a picture of any one of the following: a passport, both sides of a driver’s licence or both sides of a National ID card.
12. The final step is to wait, as it can take time for them to verify your official documents.

Mobile Trading Platform

The broker’s innovative mobile-trading platform – ThinkTrader – provides unique functionalities that will take your trading strategies to the next level. The following are some key features of the mobile-trading platform:

Split- and Quad-Screen View

Multi-tasking has never been easier. This functionality ensures you can view multiple charts on the same screen at any given time.

Advanced Charting

Charting no doubt is an essential component of trading, and it’s what makes a trading platform superior. ThinkTrader offers 50+ intelligent drawing tools and 80+ indicators.

Trend Risk Scanner

This is a powerful risk management tool available on the platform which is designed to constantly scan the markets for you for any possible tempting trading offers. The sophisticated algorithm sifts the data and lists trading ideas in terms of risk and reward rations, along with expected target prices.

How to open a live account on ThinkMarkets Mobile Trading Platform?

1. Download the application from Google Play on Android and the App Store on iOS devices. Then you will be automatically asked to create a new account if you don’t already have one registered. Select your country of residence from the list and your preferred account type. Finally, click on ‘Next.’
2. Enter your email address and create a new password adhering to the guidelines mentioned below in the ‘Password’ section. Read the privacy policy and check the box if you wish to proceed.
3. You can now go through the app but to execute an order/transaction you will have to fill in more information to get your account approved.
4. Start by entering your title, first name, and last name as it appears on your official documents.
5. Enter your date of birth.
6. Choose either yes or no to the question, depending on your circumstances.
7. Provide information on your current address.
8. Select your employment status from the options provided.
9. Click on what your means of funding your trading activities will be.
10. Select what category your annual income falls into from the drop-down menu. Then, select the total estimated value of your savings and investments.
11. Indicate your experience with Forex, CFDs, securities & bonds (if any) by selecting one of the options seen below.
12. Make sure you thoroughly read all the documents attached and are aware of the risks of trading and other privacy concerns. Once you’re done reading, click on ‘I Confirm’.
13. You will be asked to upload three pictures as proof of your residence and identity verification: a picture of the front and back side, of either an ID card, a passport, or a driver’s licence, and a picture affirming your residence in the particular place.
14. Allow time for them to verify your identity and documents. You will be notified through email once the verification process is complete.

Account Types

ThinkMarkets has 5 types of accounts in total: Standard account, ThinkZero, Islamic account, Joint account, and finally a demo account for anyone who wants to sharpen their trading skills before trading with real funds.

Demo Account

A demo account provides a risk-free environment for experienced traders and beginners, as it mimics the experience of trading financial instruments in the real world – taking into account all associated costs. This gives beginners a chance to learn about trading in a safe controlled environment without having to risk any of their own money, as a stimulus of $25,000 worth of virtual funds is provided to every user. As for experienced traders can just as easily use it to experiment with new trading strategies and assets before they make an investment using their own hard-earned funds.

The demo account expires in 90 days for MT4/MT5. The ThinkTrader demo account does not expire but ThinkMarkets does reserve the right to close it if they deem it fit.

Standard Account

A ThinkMarkets standard account is an excellent option for traders that want to start trading immediately. You can open an account even with a minimum deposit of only $0.00. Standard account holders can use any of the three platforms provided by ThinkMarkets: ThinkTrader, MT4, and MT5.

The broker’s lot sizes are customizable with the lowest amount being 0.01 lot. This ensures that traders even with a small amount of money deposited can start trading. Although there is a standard minimum trading size, the maximum trading size is solely dependent on the margin in the user’s account.

The FX spreads are from 0.4 pips and have an average of 1.2 pips. Furthermore, there is no commission fee and you can operate the account with a balance of $0.00. There are no minimum stop-loss/take-profit levels for standard account holders. The type of asset traded decides the leverage, however, you can use up to 1:500 on this account.

ThinkZero Account

A ThinkZero account unlocks loads of institutional benefits and allows you to trade with minimal or zero spreads between the bid and ask price. You will however be charged a commission of $3.5 per side (100,000) when trading FX and metals. An account manager is also made available to these account holders allowing them to get greater returns on their investments.

A ThinkZero account enables you to trade on MT4 and MT5 but not on ThinkTrader. The forex spreads, in this case, begin from 0 and the average is drastically lower than a standard account at just 0.1 pips. Unlike the standard account, a minimum operating deposit of $500 must be maintained for you to trade. The maximum leverage is 1:500 and the minimum stop-loss/take-profit levels are still none.

Islamic Account

For its Muslim traders, ThinkMarkets has introduced a new account that offers many of the same benefits as a standard account except that a few fundamental changes have been made to make it more Sharia-compliant. It’s a swap-free account.

A weekly administrative fee will have to be paid for the warehousing of positions on cryptocurrencies. If any positions are held for 7 days or more, the administrative fees will have to be paid. Islamic account holders will not be charged on any positions held for the first six days.

Joint Account

With a Joint Account, it is now possible for two or more individuals to engage in trading with the same account. This means that all parties involved will be able to withdraw, deposit, and place any trades they wish to.

Account base currency

ThinkMarkets provides a variety of base currency options, which users will have to select at the time of opening their accounts. This cannot be changed later on.

Although they do offer a lot of base currencies including AUD, NZD, USD, and EUR. Some of them might not be available to some ThinkMarkets traders because of their country of residence.

Payment methods

Deposit Methods

Deposits can be made through any of the ways listed below (Note: some might not be available in your region): Bank wire, Credit card, Debit card, Neteller, Skrill, and Cryptocurrencies.

Your account type decides your minimum deposit amount. There is no minimum deposit requirement for a “Standard Account”, however, $500 is the minimum deposit for a “ThinkZero Account.” Depending on your payment method, deposits can take as little as a few seconds or a maximum of 1- 3 business days.

The following table covers all payment methods and their respective transaction fees:

You can make a deposit by logging into your ThinkPortal with your registered email ID and password, selecting “Deposit funds” and choosing your preferred funding method.

Withdrawal Methods

The same payment methods that deposit warrants are used to carry out a withdrawal request. Usually, withdrawals are processed within 24 hours. The time it takes for you to receive your funds usually ranges from 1- 7 business days and is determined by the withdrawal method chosen.

ThinkMarkets has adopted a ‘return to source’ policy, which means that if a deposit was made using a credit card, the client will receive the funds via credit card. However, if the withdrawal amount cannot be sent back to the source, your funds will be sent to you via Bank Wire. The minimum withdrawal amount via Bank wire is $100.

Remember that the company may refuse to process a withdrawal request if they have sufficient proof that the account will turn into a negative balance, following a successful withdrawal of the stated amount.

How to withdraw funds from your trading account on ThinkPortal?

1. Select Funding > Withdraw Funds
2. Click on the ‘New Request’ tab.
3. Complete the online form and your withdrawal request is ready to be processed (allow up to one business day for the successful processing of your withdrawal request)

Education

Both intermediate and experienced traders can use thinkMarkets’ education materials. The broker has numerous articles and trading guides to assist traders in understanding the fundamentals of trading and possessing adequate knowledge of the working of the platforms.

Additionally, a comprehensive glossary defining all trading-related jargon is also available on the main website. If reading is not what you prefer, the broker has 300+ video tutorials on its YouTube account to help keep you updated on current market trends.

Much of its information can be downloaded so that users have offline access to the educational material. In addition to the general guides, in-house market analysts are constantly churning out reports on the latest economic activity. Another highlight of the company’s dedication to keeping account holders is the up-to-date economic calendar, eliminating the chances of them passing a lucrative trading opportunity.

This broker also offers live interactive webinars to registered users.

Customer Support

ThinkMarkets has a dedicated team that is prepared to answer your questions 24/7. It provides traders with multiple ways to communicate with the help desk so that they can pick whatever they’re most comfortable with. You are free to contact them over the phone, email, or even through a live chat function – all of which promise quick responses.

Phone numbers

• +44 203 514 2374 (United Kingdom)
• +61-3-9093-3400 (Australia)
• 1300-390-515 (Australia Local)
• +39 023 057 9033 (Italy)
• +34-9118299753 9093 3400 (Spain)

Email IDs

• General support: support@ThinkMarkets.com

An FAQ page can also be spotted on the homepage. Questions are grouped into different respective categories, so it is easier to filter through them within seconds and find what you’re looking for.

Reviews

What Reddit Users Say About ThinkMarkets

ThinkMarkets Australia was the one discussed most often. Most of the Reddit users were drawn in because of the low commission.

One Reddit user seems to like the cheaper rates offered by ThinkMarkets and is also recommending others to go with this brokerage firm for cheaper rates.

However, another Reddit user seems disappointed by ThinkMarket’s support team due to their lack of knowledge about the Australian market.

What Quora Users Say About ThinkMarkets

Users on Quora have strong unwavering opinions about the broker – often drastically clashing. A user claimed that the broker is a scam and warns others to steer clear of the broker believing that they are in a nutshell “FAKE, STUPID AND WORTHLESS”

However, another user seems to disagree with the earlier one’s opinion and reassures traders that the broker is indeed genuine. When asked about the profit margins that can be achieved with ThinkMarkets, he is of the opinion that a trader’s trading strategy is what gets them high profits, not the broker they trade with.

TrustPilot Users’ Reviews About ThinkMarkets

Over 20% of TrustPilot reviews were negative and another 70%+ were positive, meaning that people on the site had mixed reactions to the broker’s success rates and customer service. The broker currently has a 3.7 rating on TrustPilot.

Many users complained that the company did not stick to its promises, describing situations where they had difficulty withdrawing funds and placing a trade due to the slow transfer rates. The customer service, considered below par by many, left users waiting for days and weeks to resolve their minor issues. Needless to say, many strongly advised everyone against using their platform.

Those that supported ThinkMarkets commented on their wonderful experiences with ThinkMarkets’ demo account and 24/7 customer service. Some went into detail about the broker charging reasonable trading fees. The transparency of its fee structure was well received by most ThinkMarkets traders.

ForexPeaceArmy Users’ Reviews About ThinkMarkets

ThinkMarkets have an overwhelming number of recent negative reviews on this site. But at the same time, there are positive reviews as well – giving ThinkMarkets a rating of 3.29 on FoxPeaceArmy.

Many users claimed to have lost thousands and millions due to technical errors on the platform and because of a lack of regulation, with multiple instances of accounts being frozen for no apparent reason. They also pointed out that the demo account ran on servers different from that of live accounts, making it difficult for people to use their trading strategies in a realistic environment as there was a disparity in currency pair prices, among many other things.

Again, ThinkMarkets had its fair share of users that enjoyed their time trading on its platforms – rejoicing that trades could take place virtually instantaneously. The low spreads and commission were also popular with the masses. Everything from the withdrawal of funds to customer service met their expectations and a delightful majority were satisfied with ThinkMarkets as their go-to broker. Users also appreciated the variety in trading platforms this broker offers.

Is ThinkMarkets Safe?

Yes! ThinkMarkets is authorised by some of the most reputable financial regulatory bodies around the globe. In the UK, it is authorised and regulated by the Financial Conduct Authority (FCA) under FRN 629628. Whereas in Australia, Australian Investments and Security Commissions (ASIC) has authorised and regulated the broker since 2012. Moreover, ThinkMarkets is regulated by the Financial Services Authority (FSA) in Seychelles, under SD060.

As a regulated broker, it is obligated to segregate all client funds in trusted recognized banks such as Barclays. In addition to that, they also ensure that funds are sealed in an account separate from their own operating funds.

ThinkMarkets recently renewed its insurance policy with Lloyd’s of London which in the unlikely event of bankruptcy or failure of the broker, protects clients’ funds for up to $1 million. This is by far the highest compensation offered in the market, where most brokers are only required to offer a minimum of $50,000 under the Financial Services Compensation Scheme (FSCS).

For clients whose assets exceed the FSCS’s threshold, ThinkMarkets offers its clients Excess of FSCS Insurance. This product, which comes with no additional charges, covers funds up to £1,000,000 for each individual client. Clients do not even have to apply for it, simply opening a live account with them qualifies them for greater protection under the Excess of FSCS Insurance policy.

Other Products and Services

In this section of the review, we’ll take a closer look at the broker’s Affiliate Program, VPS Hosting feature, and Trading Central partnership. 

Affiliate Program

ThinkAffiliates is an affiliate program run by ThinkMarkets in order to reward influencers with a large social media presence. There is no additional cost associated with signing up for the program, and the rewards for participants is one of the highest rates in the market.

As a partner, ThinkMarkets will grant you access to a library of personalised marketing materials that best match your style. Those under this program can expect plentiful referral commissions all at the cost of nothing. The links can be seamlessly integrated into your platform, be it a website or an Instagram page. What’s more, is that you will be entitled to track any click-throughs and view real-time revenue reports.

Every time a person registers via your unique affiliate link, you will be rewarded. It’s as simple as that!

VPS Hosting

With VPS hosting, it is possible for you to continue using your computer for trading even in the event of internet instability, unexpected shutdowns, or power cuts. You do not need to install any software or pay anything extra to use this service. Simply, connect to a server that is based near one of their servers, and continue trading. This is available on all computers: Windows, Mac OS, and Linux.

Trading Central

The company partnered with Trading Central, offering insightful analysis and investment research tools to all of its Metatrader 4 and Metatrader 5 account holders, for free. Its suite of tools includes both human and computerised evaluation of the latest market developments and value-based analytics. All of this financial-market research and analytics that promise real-time insights will help ThinkMarkets’ clients get on par with institutional investors.

Bottom Line

ThinkMarkets is regulated by the FCA, FSCA, and ASIC in three different countries. Its commitment to providing top-notch security to its clients is expressed in the renewal of its $1 million insurance policy from Lloyd’s of London.

Moreover, a transparent fee structure outlining the different costs associated with trading on its platform and minimal costs to the investors, makes it popular among many users. Tight spreads, some of the narrowest in the industry, and low commission costs make the broker secure its place in the brokerage market.

In addition to that, 3,600+ tradable assets are available on its trading platform. The available assets give plenty of room for the diversification of your portfolio. It is worth mentioning that the various types of accounts and trading platforms make it easier for consumers to select the best option that caters to their needs.

24/7 customer service, no hidden fees, a library of educational resources, and other programs and services make it an attractive option to many traders.