ThinkMarkets Review 2020

ThinkMarkets Summary

ThinkMarkets is a Forex broker that was founded in 2010, starting in New Zealand. This Forex broker provides regulated Forex and CFDs from several different financial asset classes, including cryptocurrencies. ThinkMarkets offers three different account types, each one tailor-made for a trader’s background.

This ThinkMarkets review will give you a deeper insight on ThinkMarkets and on its best features as a Forex broker.

ThinkMarkets is a global Forex broker that is currently being traded by more than 10,000 traders around the world.  This Forex broker provides three different trading platforms and two different trading accounts, along with a free Demo Account. You will find that your funds are safe with ThinkMarkets, since this Forex broker is regulated by the Australia Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA), where funds are stored in segregated accounts.

ThinkMarkets Main Features
🛍️Established in:
2010
🛍️Headquarters:
Australia
⚖️Regulations:
ASIC, FCA
⚖️Country of regulation:
Australia, UK
💰Minimum Deposit:
$250
🎮Platforms:
MT4; MT5; ThinkTrader
🎮Demo Account Available:
Yes
💱Leverage:
1:500
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
No

Background

ThinkMarkets was founded in 2010 and was headquartered in New Zealand. However, in 2012, ThinkMarkets received its license from the Australia Securities and Investment Commission (ASIC), which led to ThinkMarkets relocating to Australia.  In 2015, ThinkMarkets received its license from the Financial Conduct Authority in the UK, for EU residents to be able to trade with ThinkMarkets. Now, in 2020, ThinkMarkets is celebrating its 10-year anniversary as a CFD and Forex broker.

Pros

  • Regulated by the Australia Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA)
  • Fast account opening process
  • No non-trading fees required
  • No commission charged with the Standard Account
  • Multiple trading platforms available
  • Provides cryptocurrencies
  • Different languages available for customer support
  • Tight spreads available
  • Demo Account available

Cons

  • No 24\7 customer service available
  • Commission charged in the ThinkZero account, worth $3.5 per side
  • Not publicly traded
  • Standard Account do not have access to AutoChartist or an account manager

Safety & Regulation

ThinkMarkets is regulated by a few of the best financial regulators in the world, who have gained a reputation based on its transparency and strict regulations. ThinkMarkets is regulated by the  Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and most recently, South Africa’s Financial Sector Conduct Authority (FSCA).

This ThinkMarkets review will determine the different financial jurisdictions and what that would mean to you, as an active trader.

Is ThinkMarkets Safe?

ThinkMarkets is regulated by more than one top-tier financial regulatory agency, where the highest form of protection and safety policies are implemented. You will find while trading with ThinkMarkets that your funds will be stored in segregated accounts that are kept away from corporate funds.  ThinkMarkets is regulated by the Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and most recently, South Africa‘s Financial Sector Conduct Authority (FSCA). This Forex trading broker also provides traders with an insurance package that protects clients from any form of financial exposure that may take place.

Pros

  • Regulated by the Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), South Africa’s Financial Sector Conduct Authority (FSCA)
  • Provides investor protection
  • Stores client funds in segregated accounts
  • License from several top-tier financial regulators
  • Know-Your-Customer\Anti-Money Laundering Policy available

Cons

  • Not publicly traded on a stock exchange

Regulation

ThinkMarkets is regulated by the Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and South Africa’s Financial Sector Conduct Authority (FSCA).This Forex trading bank was regulated by the Australia Securities and Investment Commission (ASIC) in 2012.  The Financial Conduct Authority (FCA) approved of ThinkMarkets in 2015, while the most recent financial regulator South Africa’s Financial Sector Conduct Authority (FSCA) approved of ThinkMarkets in 2019.

Protection

ThinkMarkets offers different forms of safety measures with traders, from prevention measures to verification procedures. ThinkMarkets store client funds in segregated accounts away from corporate funds. Additionally, in the event of insolvency, all clients have investor protection that will cover any funds that were lost. ThinkMarkets offers confirmation on all traders who are processing a withdrawal request, by verifying their identity through the Know-Your-Customer and Anti-Money Laundering Policy.

Awards

ThinkMarkets have received the award in the categories of the Best Forex Trading Experience of 2017, and the Best Forex Trading Innovation of 2017, awarded by the UK Forex Awards in 2017.  ThinkMarkets have been receiving awards since 2011, and most recently won from the City of London Wealth Management Awards (COLWMA) in 2018.

ThinkMarkets Fees

ThinkMarkets provides low spreads and trading fees, along with low non-trading fees. You will find that spreads start from 1.2 pips to 0.0 pips, while there are not any non-trading fees.

This ThinkMarkets review informs you of the different types of fees of ThinkMarkets, along with the spreads provided.

Pros

  • No deposit fees
  • No withdrawal fees
  • No inactivity fees
  • Spreads start from 0.0 pips
  • Low minimum deposit amount of Standard Account

Cons

  • No fixed spreads
  • High minimum deposit for ThinkZero Account

Trading Fees

The Standard Account offers spreads that start from 1.2 pips, while the ThinkZero Account offers spreads that start from 0.0 pips. However, you will find that the spreads are not fixed, but floating spreads; this makes trades vulnerable of market conditions. ThinkMarkets provides an overnight fee that traders need to consider, unless you have an Islamic Account.

Non-Trading Fees

With ThinkMarkets, there are no non-trading fees. You will not have to consider being charged for any deposits or withdrawals. Additionally, you will not be charged with an inactivity fee. An inactivity fee is a fee charged when a trader has been inactive off their trading account for a long period of time. ThinkMarkets do not charge account fees, which are annual fees to keep the account active.

Leverage

ThinkMarkets offers a standard maximum leverage level for both trading accounts available. For both the Standard Account and the ThinkZero Account have a standard maximum leverage level up to 500:1.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

ThinkMarkets Fees Compared To Competitors
ThinkMarkets  AvaTrade Vantage FX
Account Fee No No No
Inactivity Fee No Yes No
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Account Opening

ThinkMarkets offers two different trading accounts: Standard Account and ThinkZero Account. The account opening process takes an estimated time of five minutes, and it takes four steps to open a live account. The Standard Account does not charge a commission, however, the ThinkZero Account charges a 3.5USD commission per side.  

This ThinkMarkets review will demonstrate a step-by-step guide on how to open a live account with ThinkMarkets.

Pros

  • Fast account opening process
  • Low minimum deposit with Standard Account
  • No commission charged on the Standard Account
  • Digital and easy to navigate interface

Cons

  • Commission charged on the ThinkZero Account
  • High minimum deposit with ThinkZero Account 

Minimum Deposit

The minimum deposit for the Standard Account and the ThinkZero Account are significantly different. The minimum deposit for the Standard Account is 250USD, which is considered a low amount. On the other hand, the minimum deposit required for the ThinkZero Account is 20,000USD.

Standard Account

The Standard Account is better fitted for novice traders who are starting out in the trading world. Through the Standard Account, ThinkMarkets offers Forex spreads that start from 0.4 pips, and the average spread starts from 1.2 pips. The Standard Account does not charge for commission and it requires a low minimum deposit of 250USD for you to be able to start trading. You can reach a maximum leverage level up to 500:1, and a maximum tradable size of 50 lots. With the Standard Account, you will have access to all three trading platforms, but you will not be able to access AutoChartist or have your own personal Account Manager.

ThinkZero Account

ThinkMarkets offers another trading account that is suitable for advanced traders and algorithm traders, the ThinkZero Account. The ThinkZero Account provides Forex spreads that start from 0 pips, and the average spread starts from 0.1 pips. The ThinkZero Account charges a 3.5USD commission per side and requires a high minimum deposit of 20,000USD for the trader to be able to trade. The maximum leverage level of the ThinkZero Account can reach up to 500:1 and the maximum tradable size is 100 lots, double the amount of the Standard Account.  You will be able to access all three trading platforms, and have all of the features available for you to use.

How To Open a ThinkMarkets Trading Account

Step One: Fill in your personal information on the online application

ThinkMarkets Review Account STEP 1

Step One: Fill in your personal information on the online application

Step Two: Add your personal details and account details, including your preferred currency, trading platform, and leverage level.

ThinkMarkets Review Account STEP 2

Step Two: Add your personal details and account details, including your preferred currency, trading platform, and leverage level.

ThinkMarkets Review Account STEP 2 (2)

Step Two: Add your personal details and account details, including your preferred currency, trading platform, and leverage level.

ThinkMarkets Review Account STEP 2 (3)

Step Two: Add your personal details and account details, including your preferred currency, trading platform, and leverage level.

Step Three: Fill in your financial details and trading experience, including your employment status and annual income. Then, confirm that you accept the Terms and Conditions of ThinkMarkets.

ThinkMarkets Review Account STEP 3

Step Three: Fill in your financial details and trading experience, including your employment status and annual income. Then, confirm that you accept the Terms and Conditions of ThinkMarkets.

ThinkMarkets Review Account STEP 3 (2)

Step Three: Fill in your financial details and trading experience, including your employment status and annual income. Then, confirm that you accept the Terms and Conditions of ThinkMarkets.

Step Four: Upload your Proof of  Identity document (POI) and Proof of Residence document (POR)

ThinkMarkets Review Account STEP 4

Step Four: Upload your Proof of Identity document (POI) and Proof of Residence document (POR)

ThinkMarkets Review Account STEP 4 (2)

Step Four: Upload your Proof of Identity document (POI) and Proof of Residence document (POR)

Deposit & Withdrawal

ThinkMarkets provide different forms of payment for you to deposit funds into your trading account, as well as withdraw funds from your trading account. You will be able to deposit and withdraw at a fast pace, and you will not have to pay an additional fee for the aforementioned transactions.

This ThinkMarkets review will inform traders on the different types of deposit and withdrawal methods that you can use.

Account Base Currencies

With ThinkMarkets, there are five different account base currencies for both trading account. When you are opening a live account, you will have the option between choosing one of the following five base currencies: USD, EUR, GBP, AUD, and CHF.

USD EUR GBP AUD CHF

Deposits

ThinkMarkets provides several different payment methods, with no deposit fees. This means that you will not have to consider being charged with a fee for depositing funds into your trading account. The deposit process is a fast-paced process that takes about 1-3 business days. Most of the deposit options are within twenty-four hours, but the bank transfer could take up to 3 business days.

It is preferable for you to withdraw and deposit funds into your live account with the same account, to prevent being financially exposed.

Pros

  • No deposit fee
  • Several methods of payment
  • Fast deposit process

Cons

  • Limited range of account base currencies

ThinkMarkets Deposit Options

  • Bank Wire Transfer
  • Credit\\Debit Card
  • Electronic Wallet

Withdrawal

As for withdrawals, you will also not have to pay a withdrawal fee while taking funds from your ThinkMarkets trading account. However, the withdrawal process is much slower than the deposit process of ThinkMarkets. It might take up to 7 business days for your withdrawal to be processed and accessed from your trading account. Withdrawals with ThinkMarkets are available via electronic wallets, credit\\debit cards, and bank transfers.

Pros

  • No withdrawal fee
  • Different payment methods available
  • BitCoin available as payment method

Cons

  • Slow withdrawal processs

ThinkMarkets Withdrawal Options

  • Bank Wire Transfer
  • Credit\\Debit Card
  • Electronic Wallet

Trading Platforms

ThinkMarkets offers three types of trading platforms: MetaTrader4, MetaTrader5, and an in-house trading platform known as ThinkTrader. MetaTrader is one of the best and most common trading platforms around the world, tailor made for both types of traders. MetaTrader4 is more applicable for novice traders, while MetaTrader5 is best suited for advanced traders and algorithmic traders.

This ThinkMarkets review will use MetaTrader4 as an example on the features available for traders to utilize.

  • MetaTrader4
  • MetaTrader5
  • ThinkTrader

Web Trading Platform

With ThinkMarkets, you will find that the MT4 web trading platform is accessible on all operating systems. The MT4 web trading platform allows you the basic pending order types to be able to execute a trader, without complication. However, you will not find the option of a two-step login for additional verification, or price alerts and notifications. On the other hand, ThinkMarkets offers a trading tool that provides 6 different alerts for price movements, so you will be able to receive notifications.

Pros

  • Accessible on all operating systems
  • Customizable indicators
  • Instant execution
  • Basic order types available
  • AutoChartist available as trading tool
  • Demo Account provided for MT4

Cons

  • No two-step login
  • No price alerts and notifications

Desktop Trading Platform

The ThinkMarkets MT4 desktop trading platform is available for download on all operating systems, both Windows and Mac. You will be able to execute trades instantly and customize your indicators to your liking. Additionally, you will find

AutoChartist as an option for you to use as a trading tool. The MT4 desktop trading platform provides traders with basic pending order types, which facilitates trading for novice users.  ThinkMarkets desktop trading platform does not have a two-step login verification option, which means that you will need to rely on the initial login process. As for price alerts and notifications, you will find that both the MT4 desktop trading platform and one of ThinkMarkets trading tool alerts you on price movements via push notifications.

Pros

  • Downloadable on Windows and Mac
  • Customizable indicators
  • Instant execution
  • Basic order types available
  • AutoChartist available as trading tool
  • Demo Account available
  • Price alerts and notifications provided

Cons

  • No two-step login process

Mobile Trading Platform

ThinkMarkets MT4 mobile trading platform is an application that is best suited for users who like trading-on-the-go. You can download the MT4 mobile application on any mobile device, since it is applicable for both iOS and Android operating systems. The MT4 mobile trading platform allows you to trade with the basic pending order types, simplifying the trading process for new traders. You can also use AutoChartist as a tool to enhance your trading strategy, and customize your own indicators. However, you will not be able to use facial recognition or fingerprint recognition to sign into your MT4 account. For price alerts and notifications, you will find that it is available to you through the MT4 application and the ThinkMarkets trading tools. The price alerts will appear as notifications on your device.

Pros

  • Applicable on iOS and Android
  • Customizable indicators
  • Instant execution
  • Basic order types available
  • AutoChartist available as trading tool
  • Demo Account available
  • Price alerts and notifications provided

Cons

  • No facial recognition or fingerprint recognition

Markets & Financial Instruments

ThinkMarkets offers you access to seven different asset classes, with the ability to trade with more than 50 different financial instruments. This Forex broker allows you to trade with Precious Metals, Currency Pairs, Indices, and even cryptocurrencies, which is a rare financial asset class with Forex brokers.

This ThinkMarkets review shows you the different asset classes and types of financial instruments available for you to trade with.

ThinkMarkets provides you with the option of accessing seven different asset classes and more than 50 different financial instruments. This Forex trading broker provides you with more than 35 currency pairs, 9 major indices, 3 different types of commodities, 4 precious metals, over 1,200 shares that you can select through, and a broad range of cryptocurrencies.

Pros

  • Provides cryptocurrencies
  • Different commodities available
  • Broad range of CFDs on Shares
  • More than 35 currency pairs

Cons

  • No stock CFDs
What ThinkMarkets Offers
Forex Shares CFDs
Indices CFDs
Precious Metals Commodities
Cryptocurrency

Markets Research & Trading Tools

ThinkMarkets provide market research materials and trading tools that will help your trading knowledge, as well as improve your trading strategies. You will be able to utilize trading tools that give you access 24\\7, even under unexpected situations.

This ThinkMarkets review will identify the different trading tools and market research materials that will be available to you.

Trading Tools

ThinkMarkets offers three main trading tools, which are to help improve your trading strategies. The trading tools provided by ThinkMarkets are AutoChartist, VPS Hosting, and Trading Central. You will find that each trading tool is a helpful method of enhancing both your trading strategies and your trading background.

ThinkMarkets provides VPS Hosting for their traders, allowing you to trade under any circumstance. VPS Hosting enables you to continue trading uninterruptedly, even in the situation of a power out or any unexpected shutdowns.  ThinkMarkets offers a suite trading tools package, known as Trading Central, where you are offered both human and automated interpretation of technical, fundamental and value-based analytics, according to the ThinkMarkets website.

ThinkMarkets Tools
AutoChartist VPS Hosting
Trading Central

Pros

  • Instant execution with VPS Hosting
  • Featured ideas available
  • AutoChartist allows you to expedite your trading non-stop via Expert Advisors (EAs)
  • Provides both algorithmic trading and the human approach at the same time
  • Trading tools are all free and unlimited
  • Trading tools are instructional

Cons

  • Must be a member of ThinkMarkets to have access

Market Research

ThinkMarkets offers three different materials for market research: Technical Analysis, Economic Calendar, and Market News. These market analysis materials facilitate in keeping you updated of the trading world and to predict future movement.

Pros

  • Technical analysis predicts future price movements
  • Economic calendar is updated constantly
  • News from ThinkMarkets in-house experts
  • Technical analysis from any timeframe

Cons

  • Must be a member of ThinkMarkets to access market research materials

ThinkMarkets offers three different materials for market research: Technical Analysis, Economic Calendar, and Market News. These market analysis materials facilitate in keeping you updated of the trading world and to predict future movement.

ThinkMarkets provides Technical Analysis with the objective to predict any future price movement, which can take place at any timeframe. Any timeframe could be from one minute through one month, and any timeframe in between. ThinkMarkets ensure that you are updated on every move from the financial markets with the constantly updated economic calendar. Finally, ThinkMarkets provides market news, daily insights, and analysis that are created by in-house experts.

Customer Service

With ThinkMarkets customer service, you have the option of choosing from a selection of languages available. You can also choose your preferred means of communication; however, the postal service and email support are considered a slow process. Unlike other Forex trading brokers, ThinkMarkets offers you customer support 24 hours a day\6 day a week.

This ThinkMarkets review will demonstrate the different means of communication provided by the ThinkMarkets customer support team.

ThinkMarkets provide customer service support that is available 24 hours a day, 6 days a week. You will be able to reach customer service in several different ways: phone support, email support, postal service, and live chat. The best method to reach customer service is via live chat and\or phone support. The average response time is under three minutes, but the email support and postal service could take longer.

However, you will find that the questions you are asking may not be directly responded to, which means that you might receive irrelevant responses until you get the right one.

Pros

  • Available in several languages
  • Offers 24\6 customer services
  • Different means of communication
  • Fast response time

Cons

  • Inaccurate answers to traders’ questions
  • Not available 24\7

Means Of Communication

  • Live chat
  • Postal service
  • Phone support
  • Email support

The customer service of ThinkMarkets was fast and very accommodating, which is an important feature. However, it will take you a while to find the answers to your questions, since the responses are irrelevant and take time. The overall trading experience of ThinkMarkets traders is positive, but the responses of the customer service could be more professional.

Client Education

ThinkMarkets values the concept of educating their clients to enhance the trading knowledge of the trader. In this case, many educational materials are provided for clients of all forms. You will find educational videos, articles, and an educational database on all trading definitions.  

This ThinkMarkets review will demonstrate a step-by-step guide on how to open a Demo Account of ThinkTrader trading platform.

Pros

  • Different forms of educational materials
  • Educational materials classified by trader experience
  • Demo Account provided
  • Videos available as visual aid
  • Available in different languages
  • Easy to navigate database

Cons

  • Must be a member of ThinkMarkets to access

Client education is an essential value for ThinkMarkets, which is why it provides an extensive syllabus of client education. The educational videos are instructional videos on how to use trading platforms and access certain actions on the trading platforms. The educational articles are divided into three categories: beginner, intermediate, and advanced; this depends on your trading knowledge and experience. The ThinkMarkets Trading Glossary is a database that offers all trading definitions that you might need, which you can look in the form of a virtual dictionary.

The Demo Account is a hands-on approach on how you will trade in the real world without facing any financial risk.

Client Education Resources

  • Trading for Beginners
  • Intermediate Trading Tutorials
  • Advanced Trading Tutorials
  • Trading Glossary
  • Knowledge Base
  • Demo Account

How To Open a Demo Account

Step One: Fill in your personal information in the online application.

ThinkMarkets Demo Account STEP ONE

Step One: Fill in your personal information in the online application

Step Two: Download your preferred trading platform and start trading!

ThinkMarkets Demo Account STEP TWO

Step Two: Download your preferred trading platform and start trading!

Conclusion

ThinkMarkets is a global Forex broker that is currently being traded by more than 10,000 traders around the world.  This Forex broker provides three different trading platforms and two different trading accounts, along with a free Demo Account. You will find that your funds are safe with ThinkMarkets, since this Forex broker is regulated by the Australia Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA), where funds are stored in segregated accounts.

Overall, ThinkMarkets is a safe and legitimate Forex broker that is regulated by three of the best financial regulators in the world. ThinkMarkets operates on transparency and values the safety of client funds and client information.

thinkmarkets
$250
Min. Deposit
30%
Bonus
Regulated byFCA , ASIC
Leverage1:500
Customer Support24/5
Open Account

ThinkMarkets Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is ThinkMarkets A Good Broker?

ThinkMarkets is a global Forex broker that is currently being traded by more than 10,000 traders around the world.  This Forex broker provides three different trading platforms and two different trading accounts, along with a free Demo Account. You will find that your funds are safe with ThinkMarkets, since this Forex broker is regulated by the Australia Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA), where funds are stored in segregated accounts.

Is ThinkMarkets Legit?

ThinkMarkets offers different forms of safety measures with traders, from prevention measures to verification procedures. ThinkMarkets store client funds in segregated accounts away from corporate funds. Additionally, in the event of insolvency, all clients have investor protection that will cover any funds that were lost. ThinkMarkets offers confirmation on all traders who are processing a withdrawal request, by verifying their identity through the Know-Your-Customer and Anti-Money Laundering Policy.

How Long Do ThinkMarkets Withdrawals Take?

ThinkMarkets withdrawals take only 24 hours to process.

What Is The Minimum Deposit For ThinkMarkets?

The ThinkMarkets minimum deposit required is 25oUSD for the Standard Account, and 2,000USD for the ThinkZero Account.

Is ThinkMarkets Regulated?

ThinkMarkets is regulated by the Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and South Africa’s Financial Sector Conduct Authority (FSCA).This Forex trading bank was regulated by the Australia Securities and Investment Commission (ASIC) in 2012.  The Financial Conduct Authority (FCA) approved of ThinkMarkets in 2015, while the most recent financial regulator South Africa’s Financial Sector Conduct Authority (FSCA) approved of ThinkMarkets in 2019.

Is ThinkMarkets An ECN Broker?

Yes, ThinkMarkets is an ECN Broker.

Is ThinkMarkets Safe?

ThinkMarkets is regulated by more than one top-tier financial regulatory agency, where the highest form of protection and safety policies are implemented. You will find, while trading with ThinkMarkets that your funds will be stored in segregated accounts that are kept away from corporate funds.  ThinkMarkets is regulated by the Australia Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and South Africa’s Financial Sector Conduct Authority (FSCA). This Forex trading broker also provides traders with an insurance package that protects clients from any form of financial exposure that may take place.