Reviewed by: and verified by Market Chartist

ThinkMarkets is a reputable Fx/CFD provider with solid regulation. Its ThinkTrader platform suite makes a superb unique selling point.


General

Broker:
ThinkMarkets
Company Name:
TF Global Markets (UK) Limited / TF Global Markets (Aust) Limited / TF Global Markets (South Africa) (Pty) Ltd
Founded:
2010
Regulator:
FCA, ASIC, FSCA
Platform:
MT4, MT5, ThinkTrader
Payment Methods:
Bank wire, wallets, credit/debit cards
HQ:
Australia, United Kingdom
Phone Support:
+442035142374
Publicly Listed:
No
Trust Score:
 
4.1/5
81/100

Features

EURUSD Spread:
From 0.0
Average Spread:
1.2 on standard, 0.1 on ThinkZero accounts
Leverage:
Up to 1:500
US Clients:
No
Dealing Desk:
Hybrid model – STP + dealing desk
Web Trading:
Yes
Managed Accounts:
Yes
Bonus Offer:
No
Withdrawal Process Time:
Standard Bank Times
Fees:
Yes, read more below

Pros

- The own trading platform ThinkTrader.
- Low spreads.
- GBP 1 mln insurance for client’s assets under ThinkMarkets UK entity.

Cons

- No Bonus offers.


ThinkMarkets Forex Broker Review

Established in 2010, ThinkMarkets has its act together in regards to regulation and pretty much every other operational aspect too.

ThinkMarkets is based in Australia, but it maintains offices in other parts of the world as well. Its second headquarters are located in London. In addition to that, the company is present in Europe, the Middle East, the Asia-Pacific region, South Africa and South America.

It is safe to say that its coverage is indeed truly global. ThinkMarkets does not however accept traders from the US. Two countries are on its “no traders accepted” list as well: Belgium and Canadian traders are not accepted either.

Given that it is headquartered in London and Melbourne, it’s not surprising that ThinkMarkets is licensed and regulated by ASIC and the FCA. ASIC is widely recognized as one of the top regulatory agencies worldwide. The same goes for the FCA. The ASIC license number of the operator is 424700. Its FCA license bears the registration number: 629628. ThinkMarkets is also regulated in South Africa with the license number FSP No 49835.

On one hand, the FCA license means that ThinkMarkets is MiFID compliant. On the other, it carries some rather incredible guarantees for consumers. The FSCS compensation scheme covers traders’ funds up to GBP 50,000. What about those whose balances exceed this magic mark?

For such traders, the broker has purchased additional FSCS insurance, up to GBP 1 million. Needless to say, such generous insurance is only available to traders who trade through the broker’s UK entity. They also have a $1 million insurance for its entities in Bermuda and South Africa.

Given the overall serious nature of the operation, it is not the least bit surprising that traders seem to love it. Most of the trader feedback available through portals like Forex Peace Army and TrustPilot is positive.

Certainly, there are some complaints too, but they hardly dent the image of the brokerage. Such complaints have generally been aimed at the perceived quality of the broker’s customer support department, and at the withdrawal process – deemed way too slow here and there.

Why would you want to join ThinkMarkets? What are some of the unique selling points of the brokerage?

In addition to the outstanding insurance, the broker is proud of the trading conditions it features.

It also has a proprietary trading platform called ThinkTrader, which many of their clients seem to appreciate. ThinkTrader’s mobile version has picked up a few Forex industry awards.

ThinkMarkets’ order execution is said to be among the best in the business too. This feature has prompted some users to declare the broker “a hidden gem”.

The trading product range and the client service of the brokerage is worthy of attention as well.

ThinkMarkets Website Screenshot

Platform & Tools

Feature ThinkMarkets
Virtual Trading(Demo)
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Social Trading / Copy Trading
Proprietary
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Charting - Drawing Tools(Total)
Charting - Indicators / Studies (Total)
Watchlists
Order Type - Trailing Stop

This is one of the strengths of the broker. In addition to the already mentioned, award-winning ThinkTrader, ThinkMarkets also supports MT4, in several versions.

What we have here in regards to trading platforms is:

- MT4 WebTrader
- MT4 Mac
- MT4 Mobile
- MT4 "Regular".
- ThinkTrader and
- ThinkTrader Mobile.

MT4 needs no introduction to those familiar with the ins and outs of online trading, It is the most popular trading platform for a good reason: it offers superb charting, it is fully customizable, it offers one-click trading directly off the live charts and it supports EAs.

Of course, MT4 also comes laden with a superb range of technical indicators. Traders always have the opportunity to create and to add their own technical indicators and EAs.

The real point of attraction here is ThinkTrader though. While it is available in a desktop version too, ThinkTrader's qualities truly shine on mobile.

The platform features split screen and quad screen layouts on mobile. It comes with scores of intelligent drawing tools and more than 80 preinstalled technical indicators.

ThinkTrader also offers cloud-based triggers and alerts. The TrendRisk scanner is essentially a risk management calculator, also available through the mobile version of ThinkTrader.

To aid with fundamental analysis, the broker offers a news stream as well as an economic calendar. Access to AutoChartist is the cherry on top of the cake. FX Wire Pro is the ultimate solution for fundamental analysis. It offers economic commentary, technical reports, central bank bulletins and event-driven flashes, all in one neat little package.

Asset Classes

The top asset class of the broker is the FX one, which features some 39 currency pairs.

Other supported asset classes are:

- indices
- commodities
- shares
- metals
- shares trading in Australia is live and South Africa is coming soon

As usual, FX pairs carry some of the best trading conditions. Apparently, the selection of indices is quite limited. This asset class can however be traded through MT4 as well as ThinkTrader.

The shares category includes some 125 tradable assets. Shares are traded commission-free and the spreads on them are attractive. The three most popular shares are the tech big 3: Apple, Amazon and Google.

The commodities section covers oil, natural gas, coffee and more. Again: all these assets can be traded without any commissions.

Commission & Fees

The spreads and commissions you will pay at ThinkMarkets depend on the account type for which you sign up. There are two basic account types on offer, and you can request to open a couple of other types.

With the Standard Account, you do not pay any commissions. The average FX spreads are at around 1.2 pips, which is not overly impressive. They do start however from just 0.4 pips. On metals, spreads start from 25 cents and on CFDs, from 0.4 points.

The ThinkZero account offers much better spreads, but it does charge a commission of GBP 2.5 units per side. Exception are CFDs, which carry no commissions and feature spreads starting from 0.4 points.

Fx spreads start from 0 pips on this account and they average out to 0.1 pips. On metals, spreads start from 8 cents.

The other account options are the Sharia-compliant Islamic account type and the Joint account.

Research & Education

Feature ThinkMarkets
Daily Market Commentary
Forex News
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forexcasts
Economic News Sentiment
Trade Ideas - Backtesting

The broker offers a three-tiered online course, structured into Beginner, Intermediate and Advanced sections. These cover just about everything a trader needs to know to be able to become comfortable trading. There is a glossary of terms, as well as a selection of webinars.

Customer Service

The ThinkMarkets support staff can be contacted via an email form through the Contact Us page, live chat, as well as a couple of phone numbers (+44 203 514 2374 in the UK and +61-3-9093-3400 in Australia).

Mobile Trading

Feature ThinkMarkets
Android App
Apple App
Charting - Draw Trend Lines
Charting - Can Turn Horizontally
Charting - Technical Studies/Indicators
Watchlist - Syncing
Trading - Forex
Trading - CFDs
Alerts - Basic Fields

Both platforms offered by the broker are available in mobile versions. While MT4's mobile variant is well known, the ThinkTrader mobile client is most definitely a pleasant surprise.

Conclusion

ThinkMarkets is a reputable Fx/CFD provider with a solid regulatory standing. Its ThinkTrader platform suite makes a superb unique selling angle for the operator.

MT4 is in the mix too, and the selection of tradable assets offered is decent.

Editor

Having started his online career back in 2005, over the years, James has written for scores of websites, covering online poker, eSports, Forex trading, binary options, and digital ledger technology... Continued

Comments on ThinkMarkets

Your email address will not be published.