ThinkMarkets Review 2024

Last updated Feb 28, 2024
Логотип ThinkMarkets
4/5
№34 in the brokers' list67.99-69.82% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

Are you looking for a reliable Forex broker to achieve maximum success in trading? Consider ThinkMarkets - an award-winning international online broker offering commission-free Forex market, commodities, indices, and cryptocurrencies.

This article will comprehensively review ThinkMarkets, its offerings, and services to determine if this Forex broker meets your needs.

ThinkMarkets Broker Overview

Foundation Year2009
Official Websitehttps://www.thinkmarkets.com
Regulated in CountriesSeychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman IslandsMore Details
Minimum Deposit
  • 1 USD
Spreadfrom 0 points
Max Leverage1:500
Trading Assets
  • Forex
  • Commodities
  • Indices
  • Stocks
  • ETF
  • Futures
  • Cryptocurrency
Trading Platforms
  • MetaTrader 4
  • MetaTrader 5
  • ThinkTrader
Email Support
  • support@thinkmarkets.com
Hotline Phones
Social Media

The 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

Rating:5/5

Licenses from authoritative regulators and a good reputation support ThinkMarkets' reliability.

Legal EntityRegulator
-

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

Rating:4/5

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.

Registration at ThinkMarkets
Registration at ThinkMarkets

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:

  1. 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
  2. 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

Rating:3.3/5

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:

StandardThinkZero
Account CurrencyUSD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, CADUSD, EUR, GBP, CHF, AUD, CAD, NZD, JPY, SGD
Minimum Deposit1 $500 $
Trading PlatformsMetaTrader 4MetaTrader 5ThinkTraderMetaTrader 4MetaTrader 5
Spreadfloatingfrom 1.1 pipsfor EURUSD~ 1.2 pipsfloatingfrom 0 pipsfor EURUSD~ 0.1 pips
Commission per Tradeper 1 lot3.5 $
Trading AssetsForexCommoditiesIndicesStocksETFFuturesCryptocurrency
Opened Positions
Leverage1:1-1:500
Margin Call / Stop Out50% / 50%
Order ExecutionSTP
Demo Account
Islamic Account
RegisterRegister

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

ForexVPS

  • RAM: 2 GB,

  • Hard disk: 50 GB,

  • OS: Windows 2012

  • Quick setup in 5 minutes,

  • 24/7 Technical Support,

  • Multilingual support,

  • Free offer for those who trade at least 15 forex lots per month

Beeks

  • RAM: 1.3 GB,

  • Hard disk: 25 GB,

  • OS: Windows 2012 / 2016, Linux

  • Low latency with ThinkMarkets servers,

  • Discount for ThinkMarkets customers,

  • 24/5 Support,

  • 15% permanent discount for ThinkMarkets customers

Commissions

Rating:2.3/5

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.

AssetAverage spreadSwap longSwap short
AUDUSD1.5 pips-4.41 pips0.61 pips
EURUSD1.2 pips-7.96 pips0.53 pips
GBPUSD1.4 pips-5.90 pips-3.32 pips
NZDUSD1.8 pips-1.70 pips-1.53 pips
USDCAD1.8 pips-1.30 pips-5.29 pips
USDCHF1.4 pips3.32 pips-11.33 pips
USDJPY1.5 pips12.58 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:

BrokerIC MarketsRaw SpreadPepperstoneRazorThinkMarketsThinkZeroVantageRawRoboforexECN
Commission per lot$3.5$3.5$3.5$3$2.16

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

Rating:4/5

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 SystemCurrenciesDeposit FeeOperation Limit
NetellerNeteller
USDEURGBP
SkrillSkrill
USDEURGBP
Perfect MoneyPerfect Money
USDEURBTC
Bank TransferBank Transfer
USDEURAUD
VisaVisa
USDEURAUD
MastercardMastercard
USDEURAUD
CryptocurrencyBlockchainDeposit FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
Логотип EthereumETH (Ethereum)ERC20
0%
Логотип TetherUSDT (Tether)ERC20
0%
Логотип Bitcoin CashBCH (Bitcoin Cash)BCH
0%
Логотип Stellar LumensXLM (Stellar Lumens)XLM
0%
Логотип LitecoinLTC (Litecoin)LTC
0%
Логотип EOSEOS (EOS)EOS
0%
Логотип DashDASH (Dash)DASH
0%
Логотип USD CoinUSDC (USD Coin)ERC20
0%
Логотип RippleXRP (Ripple)XRP
0%
Логотип TRONTRX (TRON)TRC20
0%
Логотип TetherUSDT (Tether)TRC20
0%
Логотип Binance USDBUSD (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 SystemCurrenciesWithdrawal FeeOperation Limit
NetellerNeteller
USDEURGBP
0%
from 1 to 10000 USDfrom 1 to 10000 EURfrom 1 to 10000 GBP
SkrillSkrill
USDEURGBP
2.99%
from 1 to 10000 USDfrom 1 to 10000 EURfrom 1 to 10000 GBP
Perfect MoneyPerfect Money
USDEUR
0.5%
from 1 to 10000 USDfrom 1 to 10000 EUR
Bank TransferBank Transfer
USDEURGBP
0.5%+ 25 USD
from 100 USD
VisaVisa
USDEURAUD
2.54%
MastercardMastercard
USDEURAUD
2.64%
CryptocurrencyBlockchainWithdrawal FeeOperation Limit
Логотип TetherUSDT (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

Rating:4.6/5

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. However, despite the wide range of products offered, the maximum leverage for retail traders is small, which may not satisfy traders with limited capital.

What markets are available?

Currently, ThinkMarkets provides conditions for trading with the following CFDs:

  • 46 currency pairs;
  • indices – 15;
  • metals – 10;
  • energy carriers - 3;
  • stocks and ETFs of Europe, the USA, and Australia – 4020;
  • futures – 13;
  • cryptocurrencies – 21.

Margin Requirements

Margin requirements depend on the type of traded instrument and the trader's status.

Market

Maximum Leverage

(for retail traders)

Maximum Leverage

(for professional traders)

Forex

1:30

1:500

Indices

1:20

1:200

Energy Carriers

1:10

1:100

Metals

1:20

1:400

Cryptocurrencies

1:2

1:50

Stocks and ETFs

1:5

1:10

Futures

1:10

1:200

Trading Platforms

Rating:5/5

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 4
MetaTrader 4

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.

MetaTrader 5
MetaTrader 5

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.

ThinkTrader
ThinkTrader

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

Rating:4.5/5

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.

Trading Signals from ThinkMarkets
Trading Signals from ThinkMarkets

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.

Financial news on ThinkMarkets
Financial news on ThinkMarkets

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.

ThinkMarkets Economic Calendar
ThinkMarkets Economic Calendar

Education

Rating:4.7/5

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.

Training articles on ThinkMarkets
Training articles on ThinkMarkets

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.

Guides on patterns and indicators on ThinkMarkets
Guides on patterns and indicators on ThinkMarkets

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.

ThinkMarkets Webinars
ThinkMarkets Webinars

Customer Support

Rating:5/5

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.

ThinkMarkets Pros and Cons

Advantages

  1. Regulation. ThinkMarkets is regulated by several authoritative bodies, including the FCA in the UK and ASIC in Australia, ensuring the broker's transparency and reliability.

  2. Wide range of trading platforms. ThinkMarkets offers options for novice and professional traders, including MetaTrader 4, MetaTrader 5, and ThinkTrader.

  3. Strong analytical support. With Signal Centre, Traders’ Gym, and an up-to-date economic calendar, traders have all the necessary tools for effective market operations.

  4. Wide range of educational materials. Regardless of knowledge level, traders can enhance their skills using articles, tutorials, and webinars provided by ThinkMarkets.

  5. 24/7 technical support. Users can contact support anytime via phone, email, or online chat.

Disadvantages

  1. Limited choice of trading accounts. Despite a wide selection of platforms, ThinkMarkets offers a limited number of account types.

  2. Commissions. ThinkMarkets charges fees for withdrawals and account inactivity, which can increase costs for traders.

Conclusion

We believe ThinkMarkets is a good choice for trading in the Forex and CFD markets. They offer attractive conditions, a range of products, and first-class customer service.

If you have already used the services of this broker, please leave your review below to help other readers decide. Thank you for reading our ThinkMarkets review!

Visit ThinkMarkets67.99-69.82% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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