ThinkMarkets Review

ThinkMarkets
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Overview

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Details

Broker ThinkMarkets
Website URL https://www.thinkmarkets.com/en/
Founded 2010
Headquarters ThinkMarkets level 12/636 St Kilda Rd, Melbourne VIC 3004, Australia
Support Number +44 203 514 2374
Support Types Phone, Live Chat and by email: [email protected]
Languages English
Trading Platform MT4, MT5, MT4 mobile. Trade Interceptor, TI mobile
Minimum 1st Deposit $250
Minimum Account Size $250
Minimum Trade Amount None
Maximum Trade Amount None
Bonus Free Trade Notifications
Payout within 48 hours
Leverage 1:1 up to 1:500
Spread From 1.2 pips
Free Demo Account Open Demo
Regulated Yes
Regulation TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority, FRN 629628. Registered address: 4th Floor, 30 City Road, London EC21Y 2AY. Company number: 09042646.
Account Types Normal Account, Islamic Account
Deposit Methods Wire transfer, e-wallets, credit cards
Withdrawal Methods Wire transfer, e-wallets, credit cards
Number of Assets 1000+
Types of Assets forex, CFDs, indices, commodities, precious metals, cryptocurrencies
Account Currency EUR, AUD, USD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 7.8

Full Review



The broker reviews at Choosebroker.com are renewed recently. With more than 1,000,000 million words typed on broker reviews, we spend thousands of hours a year testing and reviewing forex, CFD, stock, share and cryptocurrency brokers and platforms. Learn more about how the broker reviews are being done.

Thinkmarkets, formally known as ThinkForex is founded in 2010. Now a days, ThinkMarkets is regulated in Australia as TF Global Markets Pty, in the UK as TF Global Markets Limited and in Bermuda as Think Capital Limited.

ThinkMarkets is most known for it’s cryptocurrency trading offering. ThinkMarkets offers forex and CFD traders access to 40 forx pairs, more than 200 different CFDs and 9 special cryptocurrency CFDs.

ThinkMarkets Review Summary

8.7/10, rank on Choosebroker.com: 12 out of 85 brokers, 3 out of 3 top Australian brokers.

ThinkMarkets offers regulated forex and CFD trading on multiple asset classes, including cryptocurrencies. Apart from having their own trading platform, ThinkMarkets is compatible with MetaTrader 4 and MetaTrader 5.

Pros

– The Trade Interceptor desktop and mobile trading platform are a good alternative for MetaTrader 4.

– Licensed broker in Australia and the UK

– Unique cryptocurrency offering

Cons

– Standard account holders have no access to Auto Chartist or a personal account manager

– Quite poor customer service compared to other brokers.

– The Trade Interceptor platform has no web-based version.

Special Features

– Trade the international forex and cryptocurrency markets using ThinkTrader.

Visit ThinkMarkets Broker Website

Is ThinkMarkets a Reliable Broker?

ThinkMarkets scores good on our broker trust score tests. ThinkMarkets is not being traded publicly on the stock exchange and has no banking license (unlike Plus500 and Markets.com). Thinkmarkets is, however, regulated by two tier 1 regulators. ThinkMarkets is regulated and licensed by the following tier 1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

FeatureThinkMarkets
Year Founded2010
Stock EnlistedNo
Bank licenseNo
Tier 1 Licenses2
Tier 2 Licenses0
Tier 3 Licenses0
Broker Trust Score75/100

ThinkMarkets Commissions and Costs

When we compare brokers spread and commission cost wise, ThinkMarkets is 12th out of 85 brokers on Choosebroker.com and 3rd out of 3 top Australian brokers.

Commissions and costs differ according to which ThinkMarkets account you open. Based on our research, ThinkMarkets is a little bit more expensive, compared to most other brokers on Choosebroker.com.

Pros

– ThinkMarkets has three different account types available and an apart type of account for the Trade Interceptor Trading platform.

– The Standard Account: $250 minimum deposit, no commissions, wider spreads compared to other accounts and MetaTrader 4 and MetaTrader 5 compatible.

– The Pro Account: Lower spreads compared to the Standard Accounts and three unites per side commission (six units per round traded lot) or $6 per 100k units. Minimum deposit is $2,000 or more. The Pro account can only be used in combination with MetaTrader 4 and 5.

– VIP Account: similar to the Pro account, but commissions are negotiable on a client-per-client basis, which is interesting for active traders. The VIP Account is not compatible with Trade Interceptor.

– Bankruptcy guarantee for clients that deposit more than $50,000.

ThinkMarkets Cons

ThinkMarkets advertises with it’s low spreads, but the company doesn’t post any typical spread costs on their website and thus is difficult to compare with other brokers.

– We would love ThinkMarkets to publish their own average spread data on a monthly or daily basis. This will give traders a more transparent view on the costs of trading with ThinkMarkets.

– ThinkMarkets does offer average spread fees on specific instruments like CFD indices. For instance, 1.3 pips on the German DAX using MetaTrader 4. The Trade Interceptor just charges 1.0 pip on the same financial instrument.

– ThinkMarkets offers super fast market execution as their best features as agency broker. Because of this, positive and negative slippage can occur but luckily trades aren’t being re quoted. In the UK ThinkMarkets has a dealer license which grants them the right to ”match-principal” (agent-only execution). In Australia and Bermuda the broker does the same, but they do take risks sometimes acting as dealer or market maker.

FeatureThinkMarkets
Minimum First Deposit$250
Average Spread on EUR/USDUnclear
All-in Fees on EUR/USDUnclear
Active Trader or VIP Trader DiscountsYes

ThinkMarkets Trading Platform and Tools

Thanks to the Trade Interceptor ThinkMarkets offers a unique trading experience that goes further than just MetaTrader trading. ThinkMarkets is also available as downloadable desktop trading platform but the broker doesn’t offer any form of web-based trading platform.

thinkmarkets-review-trading-platforms

Pros

– ThinkMarkets offers multiple trading platforms: it’s own Trade Interceptor Platform (desktop only), MetaTrader 5, MetaTrader 4, MetaTrader 4 Mac, MetaTrader 5 Web, MetaTrader 4 Web, MetaTrader 4 Mobile

– Although the Trade Interceptor desktop software feels quite simple compared to other broker’s trading platforms, it’s quite okay and has good features. The trading platform isn’t to complex and not all to simple. Overall, we think it’s a good trading platform.

– The charts are clean, easy to read and come with 102 indicators, 54 drawing tools and 12 types of display features. What we like in particular is when you set certain indicators in a new chart, these apply to each new chart you open, until turned off. Chart layouts can be saved as templates, similar to the same feature in MetaTrader 4.

ThinkMarkets cons

– No web-based version of the Trade Interceptor trading platform. Only the mobile version is an alternative for the Trade Interceptor desktop software.

– Although you can back test the Trade Interceptor using the Traders Gym feature, you cannot try out any auto trading algorithms.

Interesting pages on Choosebroker.com
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FeatureThinkMarkets
Virtual Trading (Demo Account)Yes
Proprietary Trading PlatformYes
Desktop Trading PlatformYes
Web-Based Trading PlatformNo
Social Trading / Copy TradingYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
cTraderNo
Charting Indicators51
Charting Drawing Tools31
Trade Directly from ChartYes
Watch List Total7 Instruments or Assets
Trailing StopYes

ThinkMarkets Customer Service

The ThinkMarkets Customer Service is available 24/6. Should you need immediate assistance you can submit a support ticket on the broker’s website or start a live chat. Alternatively, you can call them on one of their available global phone numbers or send an email to the correct department.

Global Phone NumbersEmail Support
UK: +44 203 514 2374Compliance
[email protected]
Australia: +61-3-9093-3400Marketing
[email protected]
Australia: +61-3-9093-3400Sales and Support
[email protected]
Spain: +34-911829975Institutional Sales
[email protected]
Financial Department
[email protected]

ThinkMarkets Research

In general ThinkMarkets offers a broad range of forex pairs, CFDs and cryptos but it lacks some depth and features other brokers have on Choosebroker.com. However, There are some unique pros and features on ThinkMarkets we don’t see at other brokers.

thinkmarkets-review-research-and-education

Pros

– The ThinkMarkets analyst team provides daily blog posts on technical and fundamental analysis of forex, crypto and CFD markets. The economic calendar on their website is provided by FXStreet.

– There is live news available provided by the famous FX Wire Pro Stream in the Trade Interceptor Program for traders with more than $2,000 on their ThinkMarkets account.

– There are quite extensive features available within the MetaTrader 4 trading platform, like for instance MT4 Super, designed by FX Blue LLP. With this feature traders have access to a wide range of indicators and tools they would other wise not have.

FeatureThinkMarkets
Daily Stock NewsYes
Forex News from Top-Tier SourcesYes
Weekly WebinarsYes
Auto ChartistYes
Trading Central (Recognia)No
Delkos ResearchNo
Social and Copy Trading FeaturesYes
Social Sentiment - Social TradingNo
Economic CalendarYes

Mobile Trading on ThinkMarkets

After spending some time testing the Trade Interceptor App, we were quite impressed. In combination with MetaTrader 4, ThinkMarkets offers good and solid forex, crypto and CFD mobile trading.

thinkmarkets-review-mobile-app

Pros

– The Trade Interceptor app has quite some features, however, some are quite hard to find under the ‘more info’ section. The economic calendar and trend risk scanner are quite useful tools.

– If we take a look at the charts offered, we find out there’s 11 types of charting displays available and a whopping 102 indicators and 57 drawing tools. This is truly unique for a mobile trading app and definitely better than most other brokers offer.

– The Trade Interceptor app looks quite simple at first sight but actually offers advanced features that are completely customizable. Overall, this is where ThinkMarkets stands out from it’s competitors.

FeatureThinkMarkets
Android AppYes
Apple iOS AppYes
Forex TradingYes
CFD TradingYes
Alerts by NotificationYes
Watch ListYes
Watch List Sync with other DevicesNo
Charting IndicatorsYes, 102
Charting Drawing ToolsYes, 57
Charting Moving Trend LinesYes
Multiple Charts AvailableYes
Charting - Auto Save DrawingsNo
Forex CalendarNo

Product Offering at ThinkMarkets

In the table below you can see what kind of assets and instruments ThinkMarkets offers.

FeatureThinkMarkets
Forex: Spot TradingYes
Amount of Forex Pairs40
Amount of CFDs192
Crypto Trading with WalletNo
Crypto Trading as CFDsYes

Important Notes regarding ThinkMarkets

Liquidation calls, also called margin calls, occur when the value on a account ledger is lower than half of the used margin. This means that borrowed margin may go negative up to half the total value in the margin account, before trades are automatically closed. This is more flexible compared to most other brokers that trigger a margin call earlier.

Early 2017 ThinkMarkets followed the global trading trend and started offering cryptocurrency CFDs. Currently, there are 9 cryptocurrency pairs traded versus USD available: Bitcoin, Bitcoin Cash, Bitcoin Gold, NEO, Dash, Ethereum and Ripple.

We do have to warn cryptocurrency traders though, that at ThinkMarkets cryptocurrency CFDs expire within a week, which is unsuitable for buy-and-holders.

ThinkMarkets offers a blockchain mobile app called TradeConnect. ThinkMarket also has it’s own ICO (Initial Coin Offering), named the ThinkCoin cryptocurrency project. This project is based on a smart-contract-based exchange, part of the ThinkMarkets Group.

An other broker who also has it’s own ICO and actual cryptocurrency wallet in use-case fase, is ExpertOption with it’s Eo.Finance wallet.

ThinkMarkets Review Conclusion

If we look at the general product offering of ThinkMarkets, the standard account is not really worth opening compared to other brokers. No free VPS (like at XM), no Auto Chartist and no personal account manager.

Traders that want to trade using Metatrader have to deposit at least $2,000. This PRO account does come with many pros, features and competitive spreads and fees.

For cryptocurrency traders ThinkMarkets with it’s Trade Interceptor app is a good option, but the spreads are quite high on the crypto CFDs.

Overall, we suggest you try ThinkMarkets out with a demo account first before depositing any money to see if it’s the right broker for you. Good alternative Australian brokers are IC Markets and Pepperstone.

Screenshots

Screenshot 1 Screenshot 2

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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