ThinkMarketsreview 2024: should you sign up with the broker?

This Trading Platform is available in Ukraine
ThinkMarkets has garnered a mixed response from users across various review platforms. Many traders appreciate their user-friendly platform and the range of trading instruments available, which makes diversification easier. The customer service is often highlighted as responsive and helpful, addressing issues with professionalism.
However, some users have expressed concerns over withdrawal delays and account verification processes that can be cumbersome. There are also occasional mentions of poor execution during high volatility periods, causing frustration among active traders. Despite these issues, the general consensus suggests that ThinkMarkets offers a reliable trading environment for those looking to navigate the financial markets, with educational resources being a notable plus for beginners. Overall, while it shines in certain areas, there's room for improvement in streamlining operations and enhancing trade execution stability.
* The amount that will be credited to the account in the case of a successful deal
* General Risk Warning: Your capital might be at risk
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ThinkMarkets is not a new kid on the block. Since 2010, the broker has been catering to all levels of traders.
How does ThinkMarkets stand out?
Highly regulated: The broker operates under reputable regulatory bodies. ThinkMarkets is regulated by the UK’s Financial Conduct Authority (FCA) and the Australian Investments and Securities Commission (ASIC), among others.
Global access: ThinkMarkets is available in more than 180 countries.
Multiple account types: Whether you are a beginner or a pro, ThinkMarkets has an account for everyone.
ZuluTrade: If you want to copy other traders, you can help with ThinkMarkets Zulu’s integration.
Great support: ThinkMarkets provides swift customer support 24/7 by email, online chat, and phone.
Plenty of trading assets: With ThinkMarkets, you have the luxury of choosing tradable assets across six categories.
What is ThinkMarkets?
You can tell a lot about a company by its roots and its trajectory. Let’s take a look at how ThinkMarkets has grown since its inception.
In 2010, the company started as ThinkForex, and later changed to ThinkMarkets. The firm quickly rose and got ASIC’s license in 2012. Three years later, it got licensing from FCA. In 2017, ThinkMarkets acquired Trade Interceptor, the best forex trading app for its time.
In 2020, the broker launched cash equities for its Australian entity. In 2022, the broker went to new highs, launching CFD offering in Europe under CySEC and forex through JFSA. Fun fact: ThinkMarkets is an official partner of Liverpool FC.
ThinkMarkets homepage
The firm has earned several awards:
- Best CFD Provider from COLWMA in 2021.
- Best Forex Platform in Africa in 2021.
- Best Value Broker in Asia in 2020.
The broker is available in more than 180 countries. However, I’m sorry to tell you that due to trading regulations in their respective countries, ThinkMarkets does not allow traders from the US, Canada, Iran, North Korea, or Syria.
What are ThinkMarkets regulations?
I told you a bit about the ThinkMarkets regulations in the previous section, but I want to zoom in on the various regulations the broker has. There are some things you need to decipher before opening an account.
ThinkMarkets has three homepages; international, EU, Australia, and the UK. Each one has different regulations. Fortunately, you can switch between the pages to check the regulation. The broker has regulations from:
- FCA (Financial Conduct Authority)
- ASIC (Australian Securities and Investment Commission)
- JFSA (Japanese Financial Services Agency)
- CySEC (Cyprus Securities and Exchange Commission)
- FSCA (Financial Sector Conduct Authority)
- FSA (Financial Services Authority)
International clients except for the UK, Australia, and South Africa come under the FSA and Seychelles regulations. All other users come under their respective countries’ regulatory bodies. This information is important before opening an account, as the regulation does matter.
ThinkMarkets regulations history
Other brokers regulated by Cysec include OvalX and AAATrade.
How does ThinkMarkets work?
We saw the regulations of the firm, but what about the trading assets? What options do you have available? ThinkMarkets provides plenty of tradable assets across six categories.
The assets available to you on the site depend on which country’s entity you’re operating from. For instance, I opened an account with the UK entity to get forex, futures, stocks, commodities, indices, and precious metals.
Tradable assets in the UK
If I switch to the international page, there is an addition of cryptocurrencies.
Tradable assets global
So, you can see the difference! Let’s talk about all the assets available.
Forex
There are 38 currency pairs available, including:
- EUR/USD
- GBP/USD
- AUD/USD
- USD/JPY
- USD/CAD
Stocks
There are over 3500 options, including:
- Amazon
- Tesla
- Netflix
- Boeing
Indices
There are 15 indices available, including:
- US30
- UK100
- NAS100 and 12 more
Metals
- Gold
- Silver
- Platinum
- Copper
Commodities
- Oil
- Gas
- Agricultural products
Cryptos
- BTC
- ETH
- BCH
- LTC, and more
ThinkMarkets has received great reception to its trading fees. Spreads on major forex pairs, such as the EUR/USD and GBP/USD, begin at 0 pips.
ThinkMarkets EU products page
How does the ThinkMarkets platform work?
To trade all these assets, you need a platform, and it’s important that you find a platform that’s comfortable for you to navigate. ThinkMarkets offers three trading platforms:
- ThinkTrader
- MT4
- MT5.
All three have both mobile and desktop versions.
ThinkTrader
ThinkTrader is the firm’s native trading platform. The platform includes more advanced trading and research features, such as:
- advanced charting,
- drawing tools,
- single-click trading.
Plus, the customization options are incredible. One of the features I like is the multiple screens. You can easily change the number of screens and display layouts. In addition, you can detach any window to display additional charts across several monitors.
It also offers fundamental analysis through the news section. The platform is available on the web, desktop, and mobile versions. I’ll talk about the mobile app in a moment.
ThinkTrader platform
MT4
The MetaTrader 4, aka MT4, is the pioneer of trading platforms. Every broker’s MT4 is a bit different, and ThinkMarkets has added the extra layering. You can have access to tools like Trading Central. With Trading Central, you can understand where the markets are heading. The broker hosts the MT4 trading execution on Equinix, the fastest server.
MT4 platform
MT5
The MetaTrader 5 is the successor of MT4. Like any successor, it has more robust features than its predecessor, which is appealing to more experienced traders looking for more versatility. You have more indicators and tools on the MT5. Some of the perks include:
- 21 timeframes,
- 6 pending order types,
- hedging and netting options, and
- multi-thread strategy tester for EAs.
MT5 platform
ThinkTrader APP
ThinkTrader has implemented several new features since acquiring Trade Interceptor. You can have a macro view to monitor four real-time charts, and you’re able to highlight areas on any chart to find exactly how many pips or points it corresponds to.
ThinkTrader mobile app
What are trading indicators available?
As an active trader, technical trading is how you take your success to the next level – that’s where technical indicators are essential. ThinkMarkets offers plenty of trading indicators across all platforms, including:
- MACD
- Moving Averages
- RSI
- Bollinger Bands
- VWAP, and many more.
What are ThinkMarkets’ trading accounts?
There are plenty of account types available on ThinkMarkets, depending on your trading entity.
As with tradable assets, the account types are determined by your trading entity. For instance, in the UK, the account types are:
- Standard
- Professional
- Think Zero
Account types in the UK
European traders can have additional options:
- Standard
- Professional
- Think Zero
- Swap-free account
Account types Europe
Let’s compare every account type.
1. Standard account
The Standard account is the basic account you can get at ThinkMarkets. There is no minimum deposit, the lot sizes are standard, and you can customize them according to your trades. The smallest lot size is 0.01. This account is ideal for beginners who wish to get started with a low deposit.
2. ThinkZero
As the name suggests, the ThinkZero account gives you zero spreads. Yes, you read that right. But there is a catch! The broker charges a commission fee. The good thing is you can have both Standard and a ThinkZero account simultaneously. You need to know that ThinkZero accounts are only available on MT4 and MT5 platforms, and require a minimum deposit of $500.
3. Professional
If retail trading isn’t your thing, you can join the pros by opening a Professional account. The pro account has certain rules, which you need to qualify for. If you become eligible, you can start trading like an expert.
4. Swap-free
The swap-free, or Islamic account, offers zero swap rates. It follows the no-swap principles of Sharia banking. To open the account, you need to contact the support team first.
Does ThinkMarkets offer a demo account?
If you aren’t ready for live accounts, you can start by opening a paper trading/demo account. Yes, ThinkMarkets do provide a demo account, and it gives you a $10,000 virtual balance. The cool thing is you can demo trade on any platform.
How safe is ThinkMarkets?
As part of regulatory bodies, every broker must provide a safe trading environment. We’ll take a look at how ThinkMarkets protects its users.
With the UK entity, you can have £1 Million Insurance on top of FSCS £85,000 protection. For the EU entity, segregated funds and Investor Compensation Fund (ICF) protection is in place.
With an International entity, you can have fund protection and top-tier insurance and banking partners. These safety measures give that extra layer of security that makes traders more confident in the platform.
Where is ThinkMarkets located?
ThinkMarkets’s headquarters are in London and Melbourne, and it has sub-offices in various countries worldwide.
ThinkMarkets location
How to deposit funds in the ThinkMarkets account?
Customers crave quick deposits. Fortunately, funding your account at ThinkMarkets is fast and easy – and there are a lot of payment methods.
The payment methods depend on your trading entity. Global entity clients can use:
- Bank wire
- Debit/credit card
- Skrill
- Neteller
- Cryptocurrencies
- Perfect Money
European entity offers:
- Bank wire
- Debit/credit card
- Nuvei
- Skrill
Australian clients can have:
- Bank wire
- Debit/credit card
- Skrill
- Neteller
- Bitpay
- PoLi pay
- PayPal
- BPay
UK entity clients can use:
- Bank wire
- Debit/credit card
- Skrill
- Neteller
Depositing through your card is instant. Bank wires can take three business days, while third-party apps’ payment methods can take 24 hours.
ThinkMarkets deposit
How to withdraw funds from the ThinkMarkets account?
ThinkMarkets has the same withdrawal methods as deposits, according to the trading entities. Also, it takes the same amount of time. There are no additional fees for withdrawals or deposits.
How to contact ThinkMarkets?
ThinkMarkets has a fast response time, making it popular amongst customers who prefer some extra support. There are several ways to contact the broker.
ThinkMarkets’ customer service representatives are available via call, chat, or email. Also, they have an FAQ page where you can find all answers to your questions. You can also contact them through social media.
ThinkMarkets contact page
Does ThinkMarkets offer promo codes?
ThinkMarkets doesn’t offer any promos; instead, they offer partnerships. There are four types of partnerships available:
- Affiliates
- Introducing brokers (IBs)
- White labels
- Regional representatives.
However, the partnerships depend on the entity you opened an account with.
ThinkMarkets partnership
How do I make money with ThinkMarkets?
There are a lot of choices out there when you’re searching for a zero-deposit broker.
Even though opening an account with no minimum deposit seems like it’s relatively low-risk, it’s still important to research a broker’s conditions when opening even a small account.
I’ve been using ThinkMarkets for a little over a year now, and I’ve had a positive experience. The broker has some favorable conditions for customers looking to start small and earn modest profits on their accounts.
The customer support is active, and deposits and withdrawals are swift too. Also, there are plenty of trading account types and platforms.
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