ThinkMarkets Review 2024
Highlights of ThinkMarkets
ThinkMarkets is a highly regulated broker, authorized by both the FCA and ASIC, ensuring reliability and transparency in its operations. Users have access to a wide range of trading platforms suitable for both novice and experienced traders. Comprehensive analytical resources and educational materials contribute to skill development and increased trading efficiency. 24/7 customer support ensures help is available at any time of the day.
ThinkMarkets is ideal for traders seeking a reliable and well-regulated broker with diverse technological solutions and a wide array of analytical tools. The broker is particularly appealing to active traders who are willing to invest time in learning about the market through educational materials.
Pros and Cons of ThinkMarkets
Pros
- Wide range of trading platforms.
- Strong analytical support.
- Extensive educational materials.
- 24/7 technical support.
Cons
- Limited choice of trading accounts.
- Withdrawal fees and account inactivity fees.
ThinkMarkets reviews
4.17 out of 5
4.17 из 5
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ThinkMarkets Broker Overview
| Foundation Year | 2009 |
|---|---|
| Official Website | https://www.thinkmarkets.com |
| Regulated in Countries | Seychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman IslandsMore Details |
| Minimum Deposit |
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| Spread | from 0 points |
| Max Leverage | 1:500 |
| Trading Assets |
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| Trading Platforms |
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| Email Support |
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| Hotline Phones | |
| Social Media |
Twitter
Facebook
YouTube
LinkedIn
InstagramThe owner of the Think Markets brand is TF Global Markets (UK) Ltd. Founded in 2010, the company is registered in the United Kingdom. It is licensed by the prestigious Financial Conduct Authority (FCA). The company's head office is also located there.
The broker's trading model is STP.
ThinkMarkets Review Summary
Our evaluation of ThinkMarkets is based on several criteria. This includes the level of regulation, the quality of trading platforms and tools, available educational materials, the quality of customer support, and the available options for depositing and withdrawing funds.
Each aspect has been thoroughly studied, and the results are presented in this review. You can refer to our broker evaluation methodology for more detailed information on how we conduct our reviews.
We strive to provide the most comprehensive and objective information to help you make an informed decision. We invite you to continue reading this review to learn more about the advantages and disadvantages of trading with ThinkMarkets.
Reliability and Regulation
Licenses from authoritative regulators and a good reputation support ThinkMarkets' reliability.
| Legal Entity | Regulator |
|---|---|
 TF Global Markets Int Limited TF Global Markets Int Limited | SFSA SFSA |
 Think Capital Limited Think Capital Limited | - |
TF Global Markets (UK) Limited TF Global Markets (UK) Limited | FCA FCA |
TF Global Markets (Aust) Pty Ltd TF Global Markets (Aust) Pty Ltd | ASIC ASIC |
 TF Global Markets (Europe) Ltd TF Global Markets (Europe) Ltd | CySEC CySEC |
 TF Global Markets (South Africa) (Pty) Ltd TF Global Markets (South Africa) (Pty) Ltd | FSCA FSCA |
 TF Global Markets Japan TF Global Markets Japan | JFSA JFSA |
 TF Global Markets (International) Limited TF Global Markets (International) Limited | CIMA CIMA |
Initially, the company was registered in New Zealand. Then it moved to Australia. In 2015, the broker opened an office in the UK and acquired a solid license from the FCA. The company participates in European financial security programs and cooperates with the well-known English bank Barclays.
The company holds licenses in the United Kingdom, Australia, South Africa, Japan, Cyprus, Seychelles, and the Cayman Islands.
Account Opening
The account opening process at ThinkMarkets is simple and convenient for clients, considering the clarity of requirements and the absence of a minimum deposit for a standard account. However, due to possible verification taking up to 2 days, the account opening process may not be as fast as one would like.
Registration
The registration process at Think Markets takes a few minutes. You must enter personal information, place of residence, phone number, email address, and password. No confirmation of registration is required. Immediately after filling in the fields, the client can log in to the Think Markets personal account.
Verification
The account opening process at ThinkMarkets includes a verification stage, which requires the provision of certain documents. The documents needed to open an account depending on the account type you are opening and the country of residence.
If you are opening an individual account for personal trading, you will need the following documents:
Photo identification: the next can be accepted as photo identification:
- Valid passport
- Valid state-issued identification, such as a driver's license or state ID
- Valid national identity card
Proof of residence: the following can be accepted as proof of residence:
- Utility bill, landline phone bill, or bank statement
- All proofs of residence must be current and not older than 180 days
The time to open an account can vary depending on the client. Still, if you have provided all the necessary documents and they are acceptable, you should receive your login details within two business days.
Minimum Deposit
The minimum deposit at ThinkMarkets varies depending on the type of account you choose to open.
If you decide to open a Standard account, there will be no minimum deposit requirements. You can start trading with any amount you find acceptable and comfortable.
However, if you choose a ThinkZero account offering lower spreads, the minimum deposit is $500. This account is a premium option and assumes the presence of a specific capital to start trading.
Account Types
ThinkMarkets account types meet the basic needs of most traders. However, their choice is still limited, and there is insufficient variety. There are no cent accounts, which may be necessary for beginners or traders with less capital. Accounts with fixed spreads are also absent, which may be preferable for some traders. In addition, there is no Islamic account, which limits opportunities for Muslim traders.
Trading Accounts
The broker offers two main real accounts:
| Standard | ThinkZero | |
|---|---|---|
| Account Currency | USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, CAD | USD, EUR, GBP, CHF, AUD, CAD, NZD, JPY, SGD |
| Minimum Deposit | 1 $ | 500 $ |
| Trading Platforms | MetaTrader 4MetaTrader 5ThinkTrader | MetaTrader 4MetaTrader 5 |
| Spread | floatingfrom 1.1 pipsfor EURUSD~ 1.2 pips | floatingfrom 0 pipsfor EURUSD~ 0.1 pips |
| Commission per Trade | per 1 lot3.5 $ | |
| Trading Assets | ForexIndicesStocksETFCryptocurrencyPrecious MetalsEnergy CarriersSoft Commodities | |
| Opened Positions | — | |
| Leverage | 1:1-1:500 | |
| Margin Call / Stop Out | 50% / 50% | |
| Order Execution | STP | |
| Demo Account | ||
| Islamic Account | ||
| Open AccountRegister | Open AccountRegister | |
Both accounts have access to a free VPS. However, a personal account manager is only available to clients who have opened a ThinkZero account.
Demo Account
A demo account is opened after authorization from the personal area. The conditions are the same as for real accounts. During the opening, the client can select the required parameters.
Copy Trading
Copy Trading is a trading strategy that is very popular among beginner traders. It allows novices to gain practical trading experience by copying the trades of the best traders.
ThinkMarkets offers clients a unique opportunity to copy trades through its ThinkCopy trading platform. This tool facilitates the trading process and allows traders to join a growing community of traders worldwide.
We will examine the ThinkCopy platform in more detail in the "Trading Platforms" section.
VPS
VPS (Virtual Private Server) is becoming increasingly popular among traders who require complete control over their trading. ThinkMarkets offers this opportunity to its clients.
VPS hosting allows trading to continue during power outages, internet connection interruptions, or sudden shutdowns. You connect to a remote terminal, whose server is located near the broker's servers, and conduct all your trading operations from any device without installing any software.
ThinkMarkets partners with two reputable VPS providers: ForexVPS and Beeks.
Provider | Specification | Advantages |
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Commissions
ThinkMarkets' commissions are at an average market level. Despite this, the broker charges a currency conversion fee for withdrawals in a currency other than the base currency and for account inactivity.
Trading Commissions
The central trading commissions that ThinkMarkets earns are the spreads on the Standard account and the commission per trade on the ThinkZero account. Let's take a closer look and compare them with offers from other Forex brokers.
Spreads and Swaps
The broker offers average market spreads and high swaps on the Standard account.
Below are the average spreads and swaps for major currency pairs on the Standard account.
| Asset | Average spread | Swap long | Swap short |
|---|---|---|---|
| AUDUSD | 1.5 pips | -4.41 pips | 0.61 pips |
| EURUSD | 1.2 pips | -7.96 pips | 0.53 pips |
| GBPUSD | 1.4 pips | -5.90 pips | -3.32 pips |
| NZDUSD | 1.8 pips | -1.70 pips | -1.53 pips |
| USDCAD | 1.8 pips | -1.30 pips | -5.29 pips |
| USDCHF | 1.4 pips | 3.32 pips | -11.33 pips |
| USDJPY | 1.5 pips | 12.58 pips | -27.22 pips |
Commission per Trade
ThinkMarkets charges a commission per trade on the ThinkZero account of $3.5 per lot. This is an average market commission rate.
Below is the commission per lot for the EURUSD pair at different Forex brokers:
| Broker | IC MarketsRaw Spread | PepperstoneRazor | ThinkMarketsThinkZero | RoboforexECN | FxProRaw+ |
|---|---|---|---|---|---|
| Commission per lot | $3.5 | $3.5 | $3.5 | $2.16 | $3.5 |
Currency Conversion Commission
ThinkMarkets recommends, although it does not require, that deposits be made in the account's base currency. If a deposit is made in a different currency, it is automatically converted to the base currency at the current exchange rate. For withdrawals in a currency other than the base currency, the broker charges a fee of 3% of the withdrawal amount.
Account Inactivity Fee
A monthly inactivity fee is charged if your account remains inactive for 90 days. Trading activity is defined as opening and closing or maintaining an open position during this period. If you do not plan to trade on your account for an extended period, contact the broker's support and ask to deactivate your account. Inactivity fees are not charged on deactivated accounts, which can be reactivated anytime.
Deposit and Withdrawal
The variety of deposit and withdrawal methods is quite broad, including bank transfers, cards, electronic wallets, and even cryptocurrencies. Fees for deposits and withdrawals are primarily non-existent, except in currency conversion and bank transfers. However, the processing time for withdrawal requests can vary, which is vital to consider.
Deposit Methods
The following deposit methods are available for ThinkMarkets accounts:
| Payment System | Currencies | Deposit Fee | Operation Limit |
|---|---|---|---|
 Neteller |  USD EURGBP. . .show all | — | |
 Skrill | USDEURGBP. . .show all | — | |
 Perfect Money | USDEURBTC | — | |
 Bank Transfer | USDEURAUD. . .show all | — | |
 Visa | USDEURAUD. . .show all | — | |
 Mastercard | USDEURAUD. . .show all | — |
| Cryptocurrency | Blockchain | Deposit Fee | Operation Limit |
|---|---|---|---|
 BTC
(Bitcoin) | BTC | 0% | — |
 ETH
(Ethereum) | ERC20 | 0% | — |
 USDT
(Tether) | ERC20 | 0% | — |
 BCH
(Bitcoin Cash) | BCH | 0% | — |
 XLM
(Stellar Lumens) | XLM | 0% | — |
 LTC
(Litecoin) | LTC | 0% | — |
 EOS
(EOS) | EOS | 0% | — |
 DASH
(Dash) | DASH | 0% | — |
 USDC
(USD Coin) | ERC20 | 0% | — |
 XRP
(Ripple) | XRP | 0% | — |
 TRX
(TRON) | TRC20 | 0% | — |
| USDT
(Tether) | TRC20 | 0% | — |
 BUSD
(Binance USD) | ERC20 | 0% | — |
To start depositing through ThinkPortal (ThinkMarkets personal account), select "Funding > Deposit Funds." Then, choose your trading account number and select the desired method. Follow the prompts to fund your trading account.
Please note that some deposit methods may be unavailable for your region of residence.
Withdrawal Methods
For withdrawing funds from your ThinkMarkets account, the following methods are available:
| Payment System | Currencies | Withdrawal Fee | Operation Limit |
|---|---|---|---|
| Neteller | USDEURGBP. . .show all | 0% | from 1 to 10000 USDfrom 1 to 10000 EURfrom 1 to 10000 GBP. . .show all |
| Skrill | USDEURGBP. . .show all | 2.99% limitscommission limits | from 1 to 10000 USDfrom 1 to 10000 EURfrom 1 to 10000 GBP. . .show all |
| Perfect Money | USDEUR | 0.5% | from 1 to 10000 USDfrom 1 to 10000 EUR |
| Bank Transfer | USDEURGBP. . .show all | 0.5%+ 25 USD | from 100 USD |
| Visa | USDEURAUD. . .show all | 2.54% limitscommission limits | — |
| Mastercard | USDEURAUD. . .show all | 2.64% limitscommission limits | — |
| Cryptocurrency | Blockchain | Withdrawal Fee | Operation Limit |
|---|---|---|---|
| USDT
(Tether) | ERC20 | 0% | from 1 to 10000 USDT |
To withdraw funds from your trading account, first select "Funding > Withdraw in ThinkPortal". Then, complete the online steps by choosing the trading account, method, and withdrawal amount.
Withdrawal requests are usually processed within 24 hours on business days. However, the company's transaction verification system is quite meticulous. Compared to many brokers, the client will have to wait longer for withdrawals and deposits. The broker explains this with increased security requirements.
Additionally, it should be noted that when withdrawing funds in a currency different from the account's base currency, the company charges a fee of 3% of the withdrawal amount. Such a fee is automatically deducted from your account. Therefore, although it is not mandatory, we recommend making withdrawals in the account's base currency to avoid additional costs.
Markets and Products
ThinkMarkets offers diverse trading instruments, including currency pairs, indices, precious metals, energy carriers, stocks and ETFs, futures, and cryptocurrencies. This allows traders to diversify their trading and select the most suitable instruments.
What markets are available?
Currently, ThinkMarkets provides conditions for trading with the following CFDs:
| Broker | IC Markets | ThinkMarkets | Pepperstone |
|---|---|---|---|
| Forex | 61 | 46 | 97 |
| Precious Metals | 7 | 10 | 20 |
| Energy Carriers | 5 | 3 | 4 |
| Soft Commodities | 8 | 3 | 16 |
| Indices | 25 | 15 | 26 |
| Stocks | 2175 | 3305 | 986 |
| ETF | 38 | 364 | 108 |
| Bonds | 10 | — | — |
| Cryptocurrency | 21 | 21 | 30 |
Margin Requirements
Margin requirements depend on the type of traded instrument and the trader's status.
| Trading Instrument | Max. Leverage for Retail Traders | Max. Leverage for Pro Traders |
|---|---|---|
| Forex | 1:30 | 1:500 |
| Precious Metals | 1:20 | 1:400 |
| Energy Carriers | 1:10 | 1:100 |
| Soft Commodities | 1:10 | 1:200 |
| Indices | 1:20 | 1:200 |
| Stocks | 1:5 | 1:10 |
| ETF | 1:5 | 1:10 |
| Cryptocurrency | 1:2 | 1:50 |
Trading Platforms
ThinkMarkets offers a wide selection of platforms, including the popular MetaTrader 4 and MetaTrader 5 and proprietary platforms such as ThinkTrader and ThinkCopy.
MetaTrader 4
MetaTrader 4 is a globally recognized trading platform many brokers offer, including ThinkMarkets. It is trendy among Forex traders for its flexibility, powerful analytical tools, and the ability to automate trading. However, it has some limitations compared to newer platforms such as ThinkTrader and MetaTrader 5.
MetaTrader 5
MetaTrader 5 is an updated version of the MetaTrader 4 platform that offers advanced capabilities for traders. It includes more technical indicators and graphical objects and supports more markets than MT4. However, it still falls short of the ThinkTrader platform in some aspects, such as intuitive navigation.
ThinkTrader
ThinkTrader is ThinkMarkets' proprietary trading platform that offers a range of powerful features and analytical tools. It allows closing all positions with a single click and offers over 125 indicators, 50 drawing tools, and 20 chart types. The platform ensures smooth trading on the web, mobile devices, and tablets with a single account and unified interface.
ThinkCopy
ThinkCopy is an innovative trade-copying platform developed by ThinkMarkets. Designed to simplify trading, it allows following the strategies of thousands of successful traders, automatically duplicating their current and future operations.
A key feature of ThinkCopy is its focus on practical experience. It is ideal for beginners, allowing them to learn how the markets work without complex market research. You select successful traders and automatically copy their strategies, learning from their experience and improving your skills.
Analytics
ThinkMarkets provides extensive market analysis tools, including trading signals, the Traders' Gym strategy testing tool, up-to-date market news, and a regularly updated economic calendar. This makes trading informative and efficient. However, some tools are only available for certain account types.
Trading Signals
Through the Signal Centre service, available to ThinkZero account users on the MT4 and MT5 platforms, traders can receive up to 40 trading signals daily. The signals are based on technical analysis conducted by a team of professionals and include a trading plan featuring entry levels, exit points, and stop-loss levels. Users can customize the reception of signals to match their trading style and risk appetite.
Traders’ Gym
Traders’ Gym is a unique tool allowing traders to test their trading strategies on historical data of over 4000 instruments. It enables the creation of up to 50 simulations, switching between different time frames and markets, and inserting one's technical indicators and risk management tools as if trading in real-time.
Market News
ThinkMarkets provides its clients access to the most current market news, regularly publishing reviews and analyses from its experts. This allows traders to stay informed of the latest trends and changes in the financial markets.
Economic Calendar
With the regularly updated economic calendar provided by ThinkMarkets, traders can keep track of important economic events and indicators that can impact market movement. This is essential for forecasting potential market changes and planning one's trading strategy.
Education
The educational materials offered by ThinkMarkets provide comprehensive support for traders.
The article library covers a wide range of topics, from the basics of trading to complex technical and fundamental analysis concepts.
Webinars conducted by experts also add value to the company's educational resources.
Despite all these advantages, there is a small room for improvement, including adding more video materials or podcasts to enhance visual learning.
Articles
ThinkMarkets offers a range of articles categorized by difficulty levels for beginners, intermediate, and advanced traders. The articles cover many topics - from basic trading principles to more complex technical and fundamental analysis aspects. With such various materials, traders can continuously improve their skills and knowledge.
Indicators and Patterns
The 'Indicators and Patterns' section will help traders delve deeper into technical analysis and chart patterns. Here, one can study and understand the importance and methods of using various indicators and learn to recognize chart patterns to predict market trends better.
Webinars
ThinkMarkets conducts real-time webinars featuring industry experts. The webinars provide an opportunity to deepen trading skills by learning from experienced professionals. Users can register for any upcoming webinars or view recordings of past ones at their convenience.
Customer Support
ThinkMarkets offers a wide range of communication channels with support, including phone numbers in different countries, email, and live chat. This allows clients to contact the support team in the way that is most convenient for them. Additionally, support is available 24/7, ensuring prompt assistance at any time of the day. Such a level of service speaks to the company's high customer orientation and professionalism.
How to contact support?
Customer support service:
- +44 203 5142374 (UK);
- +61 39 093 3400 (Australia);
- +39 023 057 9033 (Italy);
- +34-911829975 (Spain);
- online chat (can be accessed using social networks);
- email: support@thinkmarkets.com.
Customer Support Hours
The company provides trader support 24/7.
Conclusion
ThinkMarkets is a highly regulated broker with licenses from the FCA and ASIC, confirming its reliability and operations transparency. The broker offers a wide range of trading platforms suitable for beginners and experienced traders. Extensive analytical resources and educational materials help traders to develop their skills and improve trading efficiency. Round-the-clock support ensures that help is always available, no matter the time of day.
ThinkMarkets is ideal for traders who are looking for a reliable and well-regulated broker with a variety of technological solutions and analytical tools. The broker is especially suitable for active traders who are willing to invest time in learning the market through the training materials offered.
FAQ
Is ThinkMarkets legit?
Yes, ThinkMarkets is a legitimate broker. It is regulated by multiple reputable authorities including the Financial Services Authority (FSA) in Seychelles, the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, the Japan Financial Services Agency (JFSA), and the Cayman Islands Monetary Authority (CIMA). These regulations ensure the broker's reliability and transparency in its operations.
Which country is ThinkMarkets from?
ThinkMarkets is an international brokerage firm, with its headquarters located in Melbourne, Australia, and London, UK.
Is ThinkMarkets an ECN broker?
No, ThinkMarkets isn't an ECN (Electronic Communication Network) broker. ThinkMarkets operates as an STP (Straight Through Processing) broker, providing direct access to the interbank market without dealing desk intervention.
How does ThinkMarkets make money?
ThinkMarkets makes money through spreads, commissions on trades, and other service fees.
Is ThinkMarkets good for beginners?
Yes, ThinkMarkets is suitable for beginners. It offers a variety of educational resources, user-friendly platforms, and 24/7 customer support to help new traders get started.
Does ThinkMarkets offer a demo account?
Yes, ThinkMarkets provides a demo account that allows users to practice trading with virtual funds before committing real money.
How can I open an account with ThinkMarkets?
To open an account with ThinkMarkets, visit their website, fill out the registration form, submit the required documents for verification, and fund your account.
How can I delete my ThinkMarkets account?
To delete your ThinkMarkets account, you need to contact their customer support team and request the closure of your account.
What is the minimum deposit for ThinkMarkets?
The minimum deposit for ThinkMarkets varies by account type, but it generally starts at $1 for the Standard account.
What is the maximum leverage on ThinkMarkets?
The maximum leverage offered by ThinkMarkets is up to 1:500, depending on the asset class and regulatory requirements.
How do I deposit funds in a ThinkMarkets account?
You can deposit funds into your ThinkMarkets account using various methods, including bank transfers, credit/debit cards, cryptocurrencies, and e-wallets like Skrill and Neteller.
How do I withdraw money from ThinkMarkets?
To withdraw money from ThinkMarkets, log in to your account, go to the withdrawal section, select your preferred withdrawal method, and follow the instructions.
Does ThinkMarkets provide VPS?
Yes, ThinkMarkets offers VPS (Virtual Private Server) services to ensure fast and stable trading, especially for automated trading strategies.
Is ThinkMarkets suitable for scalping?
Yes, ThinkMarkets is suitable for scalping. It allows scalping strategies and provides the necessary tools and trading conditions for this type of trading.
Is ThinkMarkets suitable for auto-trading?
Yes, ThinkMarkets supports auto-trading and offers platforms like MetaTrader 4 and MetaTrader 5, which are compatible with automated trading systems.
Is ThinkMarkets suitable for hedging?
Yes, ThinkMarkets allows hedging strategies, enabling traders to open positions that can protect against potential losses.
Is ThinkMarkets suitable for spread betting?
ThinkMarkets offers spread betting services, particularly for clients in the UK, allowing them to speculate on price movements without owning the underlying asset.
