ThinkMarkets Review 2024

Key Takeaways

• ThinkMarkets is a well-regulated global online broker, founded in 2010.
• ThinkMarkets invests significant effort in its trading platforms, culminating in awards for “Best FOREX Trading Experience” and “Best FOREX Trading Innovation” at the UK FOREX Awards in 2017.
• ThinkMarkets is an emerging company with a growing presence that serves clients from 180 countries.
• ThinkMarkets can cater just as easily to beginners as it can to advanced high-volume traders through its fast and dynamic executions.
• ThinkMarkets offers 24/7 customer support in several languages.
• ThinkMarkets is subject to stringent regulations in its home bases of London and Melbourne. The UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) respectively ensure that funds are used prudently.
• Traders can access a wide choice of products, with over 38 global currency pairs on offer, as well as commodities like gold, silver, oil and natural gas.
• ThinkMarkets provides traders with several ways to make deposits into their trading accounts. These can involve bank transfers, cards, as well as e-money transfer services.
• ThinkMarkets makes use of popular third-party trading platforms MetaTrader4 and MetaTrader5. It also uses its in-house product, ThinkTrader, as necessary.
• ThinkMarkets’s full-service mobile app, ThinkTrader, is available for download to iOS and Android devices. More than 4,000 users rate the app 3.4 stars over 500,000 downloads.
• ThinkMarkets has a range of authoritative research tools that help traders stay in tune with global markets.
• ThinkMarkets offers helpful beginner support through a 24/6 channel via live chat, email form or direct phone.

Overall Summary

Founded in New Zealand in 2010, before moving to Australia two years later, ThinkMarkets is an emerging online trader. Now headquartered in both London and Melbourne, this growing company currently serves clients from over 180 countries.

With offices in areas as far afield as the Asia-Pacific, Middle East, North Africa, Europe, South America and South Africa, ThinkMarkets is a global organization. It provides clients with access to trades in FOREX and Contracts for Difference (CFDs), in addition to cryptocurrencies, stock indices and commodities. ThinkMarkets offers over 1,200 single stocks and 50+ Exchange-Traded Funds (ETF) available as CFDs.

With an emphasis on superior customer service, ThinkMarkets maintains 24/7 support in several languages. It provides different trading accounts suited to individual trader needs. This includes zero commission accounts, as well as access to trading guides, analysis tools and industry news feeds.

ThinkMarkets won awards in such areas as “Best FOREX Trading Experience” and “Best FOREX Trading Innovation” at the UK FOREX Awards in 2017. The Global FOREX Awards awarded it, “Best Value Broker in Asia” in 2020.

With its headquarters in London and Melbourne, both strongly regulated financial environments, ThinkMarkets falls within the regulatory domain of the FCA in the UK and the ASIC in Australia.

The company boasts a powerful internally developed trading platform called ThinkTrader mobile, a highly regarded trading tool, for which it received recognition as “Best Mobile Platform” at the FOREX Magnates Wards in 2012.

The maximum trading leverage while using ThinkMarkets depends on the jurisdiction under which the account operates. For UK-registered accounts, FCA rules tightly control leverage and cap it at 1:30. However, Australia-registered accounts, operating under ASIC rules, can go as high as 1:500 on FOREX instruments.

ThinkMarkets has a deep resource of trading information available for anyone interested in learning. Its detailed and up-to-date educational resources come as Webinars or online tutorials for any level of trader.
Who ThinkMarkets Is Good For?

ThinkMarkets can cater just as easily to beginners as it can to advanced high-volume traders. Having fostered a fast and dynamic trading environment, ThinkMarkets traders can enjoy the benefits of rapid order execution, intuitive platforms, competitive fees, and a range of instruments to trade.

Quality customer support is available 24/7 in multiple languages. ThinkMarkets welcomes clients from all over the world, with notable country exceptions being the US, Canada and Japan. Legal and regulatory controls mean that traders from these countries are barred. Here is a list of the top pros and cons of trading with ThinkMarkets:

Is ThinkMarkets Safe?

Offering of Investments

• 38 major currency pairs.
• Access to major global indices, such as the Australia 200, Dow Jones 30, Nasdaq US Tech 100, and more.
• Individual shares (CFD) in markets like the ASX, US, EU, and more.
• Major commodities such as gold, silver, Brent crude, and more.
• Five major cryptocurrencies.
• Direct ASX shares.

Account Types

ThinkMarkets offers its clients the option of two comprehensive accounts:

Standard Account

With this account, traders can select
spreads from 0.4 pips, with an average FOREX spread at 1.2 pips. They can also select CFDs from 0.4 points. No commission is charged and there is a minimum operating balance of $0.

Lot sizes can range from 1.0 to 100k. Traders will get access to maximum leverage of 1:500 if the account is not based in Europe. Clients can choose whether to use ThinkTrader, MT4 or MT5 as their preferred trading platform. ThinkMarkets also allows traders to use a combination of these platforms for different accounts.

ThinkZero Account

Traders can upgrade their trading to marginal spreads that start from zero, combined with tight commissions. As aforementioned, maximum leverage is up to 1:500 if the account is not based in Europe. Raw FOREX spreads start from 0 pips. The account requires a minimum of $500 deposit upon opening.

To cater to all segments, ThinkMarkets also provides traders the option of opening an Islamic Sharia-compliant account.

Deposits and Withdrawals

• Bank Wire.
• Credit/Debit Card.
• Neteller.
• Skrill.
• BitPay.

Withdrawals

Customer Service

Commissions and Fees

Platforms and Tools

MT4

• Advanced trading intelligence and indicators.
• Customizable options for any level of trader.
• Rapid order execution.
• Attractive low spreads.

MT5

1. This futuristic upgrade on MT4 has a wide selection of extra features that are useful. Here are just a few:

• Six pending order types.
• Options for hedging and netting.
• Multi-thread strategy tester for Expert Advisors (EA).
• Native economic calendar.
• Attractive FOREX spreads.
• Free access to Virtual Private Server (VPS) hosting.

ThinkTrader

• Access to 80 indicators and 50 drawing tools for analysis.
• Multiple cloud-based alerts are delivered even when the trader is not actively online.
• TrendRisk scanner that scans the market for attractive opportunities on several timeframes.
• Always-on, mobile ThinkTrader app, packed with features.
• Multiple order execution with a single confirmation.
• One-time login on approved devices.
• Trading toolkit for market analysis on mobile devices and desktops.

Mobile Trading

Research and Development

• FX Wire Pro streams of industry headlines.
• Informative economic calendar by FXStreet.
• Access to informative daily blog articles.
• Access to Autochartist, Trading Central, and VPS. Traders will, therefore, have access to extensive technical analysis of the major markets.

Final Thoughts

Conclusion

ThinkMarkets in Brief

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ Websites.

2. Other Websites that have ranked FOREX companies.

3. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. 

We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.  

Afterward we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.

2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience. 

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems. e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.