ThinkMarketsreview 2023: should you sign up with the broker?

In 2010, the company started as ThinkForex, and later changed to ThinkMarkets. The firm quickly rose and got ASIC’s license in 2012. Three years later, it got licensing from FCA. In 2017, ThinkMarkets acquired Trade Interceptor, the best forex trading app for its time.

In 2020, the broker launched cash equities for its Australian entity. In 2022, the broker went to new highs, launching CFD offering in Europe under CySEC and forex through JFSA. Fun fact: ThinkMarkets is an official partner of Liverpool FC.

ThinkMarkets homepage

The firm has earned several awards:

• Best CFD Provider from COLWMA in 2021.
• Best Forex Platform in Africa in 2021.
• Best Value Broker in Asia in 2020.

The broker is available in more than 180 countries. However, I’m sorry to tell you that due to trading regulations in their respective countries, ThinkMarkets does not allow traders from the US, Canada, Iran, North Korea, or Syria.

What are ThinkMarkets regulations?

I told you a bit about the ThinkMarkets regulations in the previous section, but I want to zoom in on the various regulations the broker has. There are some things you need to decipher before opening an account.

ThinkMarkets has three homepages; international, EU, Australia, and the UK. Each one has different regulations. Fortunately, you can switch between the pages to check the regulation. The broker has regulations from:

• FCA (Financial Conduct Authority)
• ASIC (Australian Securities and Investment Commission)
• JFSA (Japanese Financial Services Agency)
• CySEC (Cyprus Securities and Exchange Commission)
• FSCA (Financial Sector Conduct Authority)
• FSA (Financial Services Authority)

International clients except for the UK, Australia, and South Africa come under the FSA and Seychelles regulations. All other users come under their respective countries’ regulatory bodies. This information is important before opening an account, as the regulation does matter.

ThinkMarkets regulations history

Other brokers regulated by Cysec include OvalX and AAATrade.

How does ThinkMarkets work?

We saw the regulations of the firm, but what about the trading assets? What options do you have available? ThinkMarkets provides plenty of tradable assets across six categories.

The assets available to you on the site depend on which country’s entity you’re operating from. For instance, I opened an account with the UK entity to get forex, futures, stocks, commodities, indices, and precious metals.

Tradable assets in the UK

If I switch to the international page, there is an addition of cryptocurrencies.

Tradable assets global

So, you can see the difference! Let’s talk about all the assets available.

Forex

There are 38 currency pairs available, including:

• EUR/USD
• GBP/USD
• AUD/USD
• USD/JPY
• USD/CAD

Stocks

There are over 3500 options, including:

• Amazon
• Tesla
• Netflix
• Boeing

Indices 

There are 15 indices available, including:

• US30
• UK100
• NAS100 and 12 more

Metals 

• Gold
• Silver
• Platinum
• Copper

 Commodities 

• Oil
• Gas
• Agricultural products

Cryptos

• BTC
• ETH
• BCH
• LTC, and more

ThinkMarkets has received great reception to its trading fees. Spreads on major forex pairs, such as the EUR/USD and GBP/USD, begin at 0 pips.

ThinkMarkets EU products page

How does the ThinkMarkets platform work?

To trade all these assets, you need a platform, and it’s important that you find a platform that’s comfortable for you to navigate. ThinkMarkets offers three trading platforms:

• ThinkTrader
• MT4
• MT5.

All three have both mobile and desktop versions.

ThinkTrader

ThinkTrader is the firm’s native trading platform. The platform includes more advanced trading and research features, such as:

• advanced charting,
• drawing tools,
• single-click trading.

Plus, the customization options are incredible. One of the features I like is the multiple screens. You can easily change the number of screens and display layouts. In addition, you can detach any window to display additional charts across several monitors.

It also offers fundamental analysis through the news section. The platform is available on the web, desktop, and mobile versions. I’ll talk about the mobile app in a moment.

ThinkTrader platform

MT4

The MetaTrader 4, aka MT4, is the pioneer of trading platforms. Every broker’s MT4 is a bit different, and ThinkMarkets has added the extra layering. You can have access to tools like Trading Central. With Trading Central, you can understand where the markets are heading. The broker hosts the MT4 trading execution on Equinix, the fastest server.

MT4 platform

MT5

The MetaTrader 5 is the successor of MT4. Like any successor, it has more robust features than its predecessor, which is appealing to more experienced traders looking for more versatility. You have more indicators and tools on the MT5. Some of the perks include:

• 21 timeframes,
• 6 pending order types,
• hedging and netting options, and
• multi-thread strategy tester for EAs.

MT5 platform

ThinkTrader APP

ThinkTrader has implemented several new features since acquiring Trade Interceptor. You can have a macro view to monitor four real-time charts, and you’re able to highlight areas on any chart to find exactly how many pips or points it corresponds to.

ThinkTrader mobile app

What are trading indicators available?

As an active trader, technical trading is how you take your success to the next level – that’s where technical indicators are essential. ThinkMarkets offers plenty of trading indicators across all platforms, including:

• MACD
• Moving Averages
• RSI
• Bollinger Bands
• VWAP, and many more.

As with tradable assets, the account types are determined by your trading entity. For instance, in the UK, the account types are:

• Standard
• Professional
• Think Zero

Account types in the UK

European traders can have additional options:

• Standard
• Professional
• Think Zero
• Swap-free account

Account types Europe

Let’s compare every account type.

1. Standard account

The Standard account is the basic account you can get at ThinkMarkets. There is no minimum deposit, the lot sizes are standard, and you can customize them according to your trades. The smallest lot size is 0.01. This account is ideal for beginners who wish to get started with a low deposit.

2. ThinkZero

As the name suggests, the ThinkZero account gives you zero spreads. Yes, you read that right. But there is a catch! The broker charges a commission fee. The good thing is you can have both Standard and a ThinkZero account simultaneously. You need to know that ThinkZero accounts are only available on MT4 and MT5 platforms, and require a minimum deposit of $500.

3. Professional

If retail trading isn’t your thing, you can join the pros by opening a Professional account. The pro account has certain rules, which you need to qualify for. If you become eligible, you can start trading like an expert.

4. Swap-free

The swap-free, or Islamic account, offers zero swap rates. It follows the no-swap principles of Sharia banking. To open the account, you need to contact the support team first.

Does ThinkMarkets offer a demo account?

If you aren’t ready for live accounts, you can start by opening a paper trading/demo account. Yes, ThinkMarkets do provide a demo account, and it gives you a $10,000 virtual balance. The cool thing is you can demo trade on any platform.

With the UK entity, you can have £1 Million Insurance on top of FSCS £85,000 protection. For the EU entity, segregated funds and Investor Compensation Fund (ICF) protection is in place.

With an International entity, you can have fund protection and top-tier insurance and banking partners. These safety measures give that extra layer of security that makes traders more confident in the platform.

Where is ThinkMarkets located?

ThinkMarkets’s headquarters are in London and Melbourne, and it has sub-offices in various countries worldwide.

ThinkMarkets location

The payment methods depend on your trading entity. Global entity clients can use:

• Bank wire
• Debit/credit card
• Skrill
• Neteller
• Cryptocurrencies
• Perfect Money

European entity offers:

• Bank wire
• Debit/credit card
• Nuvei
• Skrill

Australian clients can have:

• Bank wire
• Debit/credit card
• Skrill
• Neteller
• Bitpay
• PoLi pay
• PayPal
• BPay

UK entity clients can use:

• Bank wire
• Debit/credit card
• Skrill
• Neteller

Depositing through your card is instant. Bank wires can take three business days, while third-party apps’ payment methods can take 24 hours.

ThinkMarkets deposit

How to withdraw funds from the ThinkMarkets account?

ThinkMarkets has the same withdrawal methods as deposits, according to the trading entities. Also, it takes the same amount of time. There are no additional fees for withdrawals or deposits.

ThinkMarkets’ customer service representatives are available via call, chat, or email. Also, they have an FAQ page where you can find all answers to your questions. You can also contact them through social media.

ThinkMarkets contact page

Does ThinkMarkets offer promo codes?

ThinkMarkets doesn’t offer any promos; instead, they offer partnerships. There are four types of partnerships available:

• Affiliates
• Introducing brokers (IBs)
• White labels
• Regional representatives.

However, the partnerships depend on the entity you opened an account with.

ThinkMarkets partnership

I’ve been using ThinkMarkets for a little over a year now, and I’ve had a positive experience. The broker has some favorable conditions for customers looking to start small and earn modest profits on their accounts.

The customer support is active, and deposits and withdrawals are swift too. Also, there are plenty of trading account types and platforms.

Let’s see what others have to say:

What is ThinkPortal?

ThinkPortal is ThinkMarkets’ secure client area. It enables you to manage your trading accounts, access services only available to live account holders, and deposit and withdraw money from your accounts.

Can I see my trading history?

Your trade history is not viewable from within your ThinkPortal. You can view trade history from within your trading platform.

How do I apply for a new live account?

Within ThinkPortal, you can quickly create a new live account and choose your preferred platform, account type, currency, and leverage by heading to trading accounts.

Does ThinkMarkets offer bonuses?

Unfortunately, ThinkMarkets currently doesn’t give any bonuses at the time of writing.

Does ThinkMarkets charge tax?

ThinkMarkets doesn’t charge taxes for profits. It gives tax info for the Australian entity; you can find all the info you need here.

Who owns ThinkMarkets?

Nauman Anees is the co-founder and CEO of ThinkMarkets, as well as the current owner.

Final thoughts

There you have it! ThinkMarkets shines in regulations, platforms, customer support, assets, spreads, fees, and account types. However, switching between various entities can sometimes be confusing.

I’m not going to say it’s the best broker out there, but I’ll give it 4.2/5. I hope this review was informative and time-saving for you. If you are looking for forex brokers other than ThinkMarkets, you can check the complete list of brokers here.

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