ThinkMarkets Review

Regulators: FCA, ASIC

Cryptocurrencies: YES

Minimum Deposit: $ 0

Maximum Leverage: 1:500

Spreads: Low

My Score: 6.7

ThinkMarkets is a CFD and Forex broker which is established in 2010. The broker headquarters in London and Melbourne and hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America.

I am going to take a look at the broker’s regulation, trading conditions, customer support, and more.

ThinkMarkets’ purpose is to improve the forex trading experience by delivering industry-leading technology to the international trading community. It looks like they achieved this. The broker now has an international presence with clients in over 75 countries.

So, let’s look at what you are going to learn in this ThinkMarkets review. Is ThinkMarkets regulated? What are the account types of ThinkMarkets?  How are the trading conditions such as spreads, leverage, and minimum deposit? Is ThinkMarkets scam or reliable?

Who is ThinkMarkets?

They provide quick and easy access to a wide variety of markets including forex, stocks CFDs, cryptocurrencies, commodities, indices, futures, and more. They offer some of the most well-known trading solutions with industry-standard MetaTrader4, next-generation Metatrader 5, and ThinkTrader, their in-house platform, awarded Best Mobile Platform by the Forex community.

I’ve seen them use the latest technology to provide the best pricing and execution speed, and they serve traders throughout their trading journey. They maintain some of the most competitive trading conditions in the market, including tight spreads, low commissions, and a variety of account types tailored to the preferences and needs of clients.

The company is recognized by some of the most trusted financial regulatory agencies – FCA, FSCA, and ASIC. ThinkMarkets is authorized and regulated by the Financial Conduct Authority (FCA) and provides regular financial reports to the FCA in addition to the annual audit. FCA Number: 629628.

We are also registered with the Australian Securities and Investments Commission (ASIC) and hold the Australian Financial Services License number 424700.

TF Global Markets (South Africa) Pty Ltd is an Authorized Financial Services Provider (FSP No 49835). Registration number 2017/098181/07.

In the event of unexpected default, they offer special insurance that covers client funds up to $ 1,000,000, an innovative offer that provides investors with greater protection and indemnification rights.

ThinkMarkets adheres to transparent operating principles and protects the interests of its customers. To further increase security, clients’ funds are kept segregated in carefully selected top-tier banks.

Regulation of ThinkMarkets

ThinkMarkets is regulated and authorized by UK’s FCA and Aussie ASIC. In Australia, the company behind the broker is TF Global Markets (Aust) Pty Ltd. and it is regulated by the Australia Securities and Investment Commission (ASIC).

In the UK, the company behind the broker is TF Global Markets (UK) Limited and it authorized and regulated by the Financial Conduct Authority (FCA).

Both FCA and ASIC are reputable watchdogs and they require strict rules for brokers who have their licenses.

Some of the rules are the minimum initial capital and the clients’ money rule. For example, ASIC-regulated brokers must keep clients’ funds in segregated accounts, separate from the companies operating funds.

ASIC requires to brokers must hold at least $1 million on reputable banks to prove their good financial stability.

On the other hand, FCA requires to brokers must hold at least £730,000 to prove their good financial stability. Besides, clients of FCA-regulated brokers have covered the Financial Services Compensation Scheme (FSCS) coverage.

If the broker bankrupts, FSCS compensation secures the client’s funds up to a maximum of £50,000 per person and per entity. Also, ThinkMarkets has an Excess of FSCS Insurance that provides to cover investors’ funds up to £1 million as standard.

However, ASIC does not provide any compensation scheme in case a licensed company bankrupts.

Account Types & Spreads

ThinkMarkets offers two account types. These are Standard and Pro account types. Let’s look at them closer.

The Standard account is commission-free and does not require a minimum deposit. Spreads are starting from 0.4 pips on EUR/USD. The maximum leverage is 1:500 and the minimum trade size is 0.01.

thinkmarkets spreads

When we look at another account type, the ThinkZero account requires a minimum deposit of $2,000 and spreads starting from 0 pip with a commission of $3.5 per side on EUR/USD. The maximum leverage is 1:500 and the minimum trade size is 0.01.

The standard account does not have an account manager while ThinkZero kinds of accounts have an account manager.

As different from the standard account if you open a pro account on ThinkMarkets you can use free VPS service and account manager.

There is also an Islamic account known as the swap-free account. ThinkMarkets provides Islamic clients, in order to comply with Sharia law, the option to open a swap-free account. 

And also they provide Joint accounts its clients the option to open accounts shared by two or more individuals. You have to request Islamic Account and Joint Accounts. 

Trading Platforms

ThinkMarkets offers two platforms. One of them is the most popular platform MetaTrader 4 (MT4). The second one is its own ThinkTrader platform and, also MetaTrader 5 (MT5) is available.

thinkmarkets broker review

MT 4 and MT 5 have an elaborated and intuitively understandable interface, detailed information, simplicity in installation, broad analytical abilities, a news feed, incorporated service of trading signals, and many other features.

ThinkTrader platform is available for Windows and Mac OS desktop software, mobile and tablet versions.

Educational Materials

ThinkMarkets has a part called “Learn to Trade” which is pretty good, and they have educational materials like articles, webinars about how can you trade. It’s quite useful to understand how can you use the platform and trade. Especially in terms of new traders.

thinkmarkets 2 

Trading Instruments

ThinkMarkets offers its clients to trade Forex, Indices, Shares, Metals, Commodities, Cryptocurrencies, Equities, and Futures.

Major currency pairs, gold, silver, Brent Crude Oil, US Crude Oil are available for trading. There are various cryptocurrencies such as Bitcoin, Bitcoin Cash, Dash, Neo, Ethereum, and Ripple.

Customer Service

The customer service of ThinkMarkets is very helpful. When I asked a question they respond to me quickly and kindly. The live chat is working great. Customer Support is 24/7 online. 

The website of the broker, thinkmarkets.com, is well-designed. You can find almost all the information about the broker.

ThinkMarkets Withdrawal and Deposit Methods

ThinkMarkets offers various withdrawal and deposit methods such as Bank wire, credit/debit card, e-wallet systems, Neteller, Skrill, Bitpay. There are also different methods available depends on countries.

Bitpay is a method that allows you to fund your account within just a few minutes by using your bitcoin wallet. The estimated transaction time is up to 10 min.

The best way to withdraw and deposit is by credit/debit card. Because it is fast and secure. You can use AUD, EUR, CHF, GBP, and USD currencies to deposit and withdraw.

Conclusion of ThinkMarkets Review

ThinkMarkets is a well-regulated broker which has 11 years of experience. The broker has Excess of FSCS Insurance and this is a big advantage for clients.

It offers its own trading platform ThinkTraders and also MT4 and MT5. ThinkMarkets offers advanced trading options, attractive conditions, and fast execution speed.

You can trade with the broker but if you are a newbie you should start with a free deposit. You can also check the other brokers who have a low deposit in this article. 

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ThinkMarkets

7.1

Trust

8.0/10

Commissions and fees

6.0/10

Customer Service

8.0/10

Platform & Tools

6.5/10

Product Portfolio

7.0/10

Pros

  • Strong regulations (FCA, ASIC,)
  • MT4 & MT5 supported
  • Competitive Spreads, High Leverage

Cons

  • Payment methods are limited