ThinkMarkets Review 2020
ThinkMarkets is a regulated global online broker with great emphasis on client security. They incorporate top of the range online trading technologies with advanced trading platforms and tools.
ThinkMarkets Review 2020, Pros & Cons
- Strict regulation
- Segregated client funds
- Equinix data centres
- Commission free accounts
- VPS service
- Advanced trading platforms
- No US clients
- Restricted leverage for EU clients
- No fixed spread accounts
In this detailed ThinkMarkets review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
ThinkMarkets is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including ThinkMarkets.
ThinkMarkets Review: Summary
ThinkMarkets is a leading online trading broker providing clients in over 180 countries access to trade a wide range of trading instruments across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
ThinkMarkets was established in 2010 and is headquartered in London and Melbourne, with offices located all over the world including Asia-Pacific, Middle East and North Africa, Europe and South America. Multilingual client support is available 24 hours a day, 6 days a week. They provide a variety of flexible trading accounts to suit different trader needs, including zero commission accounts as well as trading guides, trading tools, news and analysis.
They have a partnership with Equinix who are the world’s largest trading data centre with locations in London and Hong Kong that connect ThinkMarkets vast liquidity pool directly to your trading platforms. This high-end technology enables them to provide fast and reliable trade execution under all market conditions with the best possible prices and tightest spreads from just 0.1 pips.
ThinkMarkets offer some of the most popular and advanced trading platforms including their very own Trade Interceptor platform that was voted as the Best Mobile Platform at the prestigious Forex Magnates Awards. They have won numerous awards in multiple categories including Best Forex Trading Experience and Best Forex Trading Innovation at the UK Forex Awards in 2017.
ThinkMarkets operates in a transparent manner with emphasis on looking after client’s own interests and safety. They are regulated by some of the most strict and respected regulatory bodies including the FCA and ASIC. Eligible clients are also covered by the FSCS compensation scheme whilst client funds are held in segregated accounts.
ThinkMarkets Review: Regulation
ThinkMarkets is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and therefore must comply to strict regulatory requirements including providing regular financial reports and annual audits. They are also regulated by the Australian Securities and Investment Commission (ASIC).
In addition to strict regulation, ThinkMarkets are a member of the Financial Services Compensation Scheme (FSCS) which is the UK’s statutory deposit insurance and investors compensation scheme for customers of authorised financial services firms. Eligible clients may be entitled to compensation of up to £85,000 from the FSCS if ThinkMarkets has any claims against it that they cannot pay in case of default or insolvency. If a client complaint exceeds this threshold, they also have investor protection and compensation rights of up to £1 million through an insurance policy with Lloyd’s of London.
ThinkMarkets keep client funds in segregated accounts with top-tier banks such as Barclays to ensure that they are not used for any other purposes such as operating costs. Whilst most brokers in the industry use a standard approach to protect clients, ThinkMarkets take that extra step to ensure client safety. This helps to give clients additional peace of mind that they are using a trusted and reputable broker.
ThinkMarkets Review: Countries
ThinkMarkets accepts clients from over 180 countries, although they do not accept client from residents of the United States, Canada, Japan and some other countries or jurisdictions where there are legal and regulatory restrictions.
Some ThinkMarkets broker features and products mentioned within this ThinkMarkets review may not be available to traders from specific countries due to legal restrictions.
ThinkMarkets Review: Trading Platforms
ThinkMarkets have a range of powerful and advanced trading platforms to meet the needs of different traders. Platforms are available for desktop, web and mobile. Mobile platforms are useful if you need to access your trading account on the go.
ThinkMarkets offer the hugely popular MetaTrader 4 (MT4) trading platform that is well known throughout the industry for its user-friendly interface, quick learning curve and multiple built-in trading tools.
MT4 has many features including technical indicators for chart analysis, trading strategy templates, fully customisable interface and charts, multiple time frames, automated trading solutions (expert advisors) and a large online community. It is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
ThinkMarkets offer MT4 with additional add-ons that enhance the platform and improve the overall trading experience. Benefits include access to 27 institutional-quality apps and indicators, including advanced order execution, real-time sentiment data to see what positions other traders have, advanced alerts/alarms, market news and data delivered directly to the platform.
The sentiment trader shows the amount of ThinkMarkets traders with long or short positions. Historical and real-time sentiment data is available for multiple symbols.
The session map displays an interactive world map with opening and closing times of the major financial markets as well as including news events related to each session.
The trade terminal is a tool used for executing trades and analysing markets. It can be used to automate position management and create templates for more efficient trading.
The mini terminal is an extension of the trade terminal for a specified trading chart.
The alarm manager is a personal trading assistant which can send you and your social media followers notifications. It is also able to automate frequently performed actions such as opening positions and sending emails.
The Excel RTD tool allows you to enter real-time account data directly into Excel and can also be used to send trading commands.
The market manager is a small window where you can follow symbols on your watchlist and place or manage orders.
The correlation matrix shows the correlation between different markets whilst highlighting areas of high or low correlation. This can be used on multiple time frames and help with your market analysis.
The correlation trader allows you to compare the correlation over symbols for spotting differences and potential opportunities. Recent activity and any open positions are also displayed.
Tick Chart Trader
The tick chart trader offers a range of tick-based charts which can be traded on quickly and efficiently.
The stealth orders feature lets you hide pending orders from other traders and to include stealth stop losses and take profits on your orders. It will wait for a pending orders price to be reached and then enter the position with market execution.
ThinkMarkets also offer their own in-house developed award-winning Trade Interceptor platform for desktop, mobile and tablet. Over half a million traders globally use this platform and it has an impressive 15,000+ five-star reviews.
Trade Interceptor features include over 80 indicators, 50 drawing tools, 14 chart types and a 4-window split screen view to follow multiple markets consecutively. You get 200 free cloud-based notifications (based on price action/indicators) and can analyse the markets for high probability trades using the TrendRisk Scanner which will also give stop loss and take profit price suggestions.
ThinkMarkets servers are hosted with the robust infrastructure of Equinix who operate over 100+ data centres globally and host servers of more than 450+ financial exchanges, execution venues and banks. Clients trades placed through the MT4 platform are routed to counterparties within milliseconds with speed and reliability.
Virtual Private Server (VPS)
ThinkMarkets offer a VPS running over a secured cloud computer system that gives you flexible 24-hour access to your account from anywhere in the world with an internet connection. A VPS can offer improved performance, helping to reduce trading latency and increase execution speeds. To qualify for a free VPS, clients must trade at least 15 round turn lots per calendar month.
ThinkMarkets Review: Trading Tools
ThinkMarkets have a selection of trading tools that can be used to assist with your trading and to keep up to date with the latest market news.
ThinkMarkets have an in-house team of experts who deliver the latest market news, daily insights and analysis. They cover detailed technical and fundamental analysis across multiple markets and trading instruments.
The sentiment indicator shows you the buying and selling positions of other ThinkMarkets traders across multiple instruments and can be used as part of a contrarian trading strategy.
The ThinkMarkets economic calendar is constantly updated so that you can track the latest economic news releases that affect the markets. News releases can be filtered by date, country, category and volatility impact.
FX Wire Pro
FX Wire Pro is one of the leading news agencies that delivers real-time market news from thousands of trading professionals around the globe. You can keep up to date with the latest economic analysis to see what is moving the markets with event alerts and potential impact.
ThinkMarkets have the powerful pattern recognition software Autochartist integrated into the MT4 platform which can supplement your technical analysis activity for fast and efficient market analysis over multiple instruments. Autochartist can alert you when new potential trading opportunities are identified and can be customised to search according to your own trading strategy. The PowerStats feature can assist with evaluating a positions risk and help to identify suitable stop loss and take profit levels.
ThinkMarkets Review: Education
ThinkMarkets have a range of educational material suited towards traders of all experience levels. They can be accessed to help increase your trading knowledge and skills.
There are 3 trading courses for beginner, intermediate and advanced traders covering all aspects of trading such as how to place trades, technical analysis and much more.
There is a selection of trading guides for all levels of traders that can be downloaded and cover a variety of different topics from technical analysis to market psychology and more.
The ThinkMarkets website includes a glossary of trading terms and definitions to help you understand some of the most common trading terminology.
You can sign up to one on one webinars that are regularly run by ThinkMarkets in-house markets experts. These webinars can be a useful way to learn more about trading and to stay up to date with the most important trading topics.
ThinkMarkets Review: Trading Instruments
ThinkMarkets offer a selection of trading instruments from multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
Through ThinkMarkets you can trade major, minor and exotic FX currency pairs with no minimum deposit on the standard account or a $500 minimum deposit on the ThinkZero account. Leverage of up to 1:500 is available with EU leverage capped at 1:30 due to Markets in Financial Instruments Directive (MiFID) restrictions. Forex spreads start from just 0 pips on the ThinkZero account. As FX currency pairs are always moving, they present plenty of trading opportunities. When trading forex, you trade in anticipation of which direction one currency pair will move in relation to another.
ThinkMarkets offer some of the most popular Cryptos such as Bitcoin, Ethereum & Ripple. Their Crypto spreads are low with no contract expiration and the ability to go long or short. Cryptocurrencies are highly volatile and traders can speculate on if they believe their value will increase or decrease in relation to the currency of their choice.
You can benefit from commission free trading on all precious metals including gold, silver & platinum. Spreads on metals start from as low as 15 cents on a professional account. Metals are usually used for those who are interested in diversifying their trading portfolio and are quoted against the US Dollar at ThinkMarkets.
ThinkMarkets offer commission free trading and leverage of up to 1:10 on a selection of 125+ global shares including some of the most popular such as Amazon, Apple, Facebook & Google. Share trading is popular for those who want to take a position on a specific company and sector. Profits are generated by buying a share at a low price and selling it at a higher one or by selling at a high price and buying at a lower one, if you think that the share of a company will decline.
At ThinkMarkets you can take positions on global indices from just 0.4 points on Trade Interceptor or tight variable spreads on MT4. Trading indices with them requires a minimum deposit of just $250. An index is made up of a group of shares and is used to track the performance of a country’s economy, a market sector or an exchange. Some of the most traded indices include the Dow Jones Industrial Average, S&P 500, FTSE, DAX, ASX200, NASDAQ, CAC, EuroStoxx and Nikkei 225.
You can diversify your portfolio by going long or short on a selection of commodities such as oil, gas & coffee, without any commission charged. Spreads on commodities start from as low as 0.4 points. Some commodities are traded in heavy volumes around the clock offering multiple opportunities to online traders.
ThinkMarkets Review: Trading Accounts & Fees
ThinkMarkets have a choice of trading accounts to suit different traders needs. There are 2 main accounts which are the standard account and ThinkZero account. The spreads are lowest on the ThinkZero account although there is a competitive commission charged.
In addition to the main accounts, there is a joint account and an Islamic friendly swap free account that complies with Sharia law. They also provide demo accounts if you would like to test the different trading platforms and conditions before opening and funding a real account.
The standard account is the basic account offering that has spreads starting from 0.4 pips with an average FX spread of 1.2 pips. There is no minimum balance required and no commission charged. Maximum leverage of 1:500 is available although EU clients are restricted to 1:30 leverage due to MiFID regulations. There is a free VPS offered to clients who trade at least 15 round lots per month.
The ThinkZero account has spread starting from juts 0 pips with an average FX spread of 0.1 pips. The minimum balance required is $500 with a commission charge of $3.5 per side. Maximum leverage of 1:500 is available although EU clients are restricted to 1:30 leverage due to MiFID regulations. There is a free VPS offered to clients who trade at least 15 round lots per month. ThinkZero accounts also qualify for the Autochartist tool and come with a dedicated account manager.
As broker fees can vary and change, there may be additional fees that are not listed in this ThinkMarkets review. It is imperative to ensure that you check and understand all of the latest information before you open a ThinkMarkets broker account for online trading.
ThinkMarkets Review: Customer Service
Multilingual client support is available 24 hours a day, 6 days a week via online chat, telephone or email. The friendly support team is prompt and efficient at responding to general and technical questions.
ThinkMarkets Review: Deposit & Withdrawal
ThinkMarkets offer a selection of deposit and withdrawal methods including online payment processors such as Neteller & Skrill which can be useful for quicker processing.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in EUR, USD, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
ThinkMarkets Review: Account Opening
Opening an account with ThinkMarkets takes around 5 minutes. You simply complete the online application form and then verify your email address and provide documents for KYC purposes. Once your documents have been verified you will be able to fund your selected trading account and start trading.
ThinkMarkets Review: Conclusion
ThinkMarkets is a well-established and regulated online broker that puts great emphasis on client security. They incorporate top of the range trading technologies and provide advanced trading platforms to clients across the globe. Account types are flexible whilst there is a good range of trading tools and educational materials for traders to utilise.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.22% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.