ThinkMarkets Review 2020 - Verified Customer Reviews

Fxverify Rating
4.7
User Rating
4.7
(22)
Fxverify is the first of it's kind and only publishes user reviews by verified customers with a real ThinkMarkets trading account. Learn how we verify.

ThinkMarkets Promotions

    No promotions available at this moment

ThinkMarkets Review

Updated November 26, 2020
4.7
Score breakdown
Pricing: 5
Regulation: 5
Popularity: 4
User Rating: 4.7 (22)

ThinkMarkets overall score rank: 3 out of 35

ThinkMarkets Forex broker review

Risk Warning: CFDs are complex financial instruments that carry a high risk due to leverage trading. The vast majority of retail investor accounts lose money when trading CFDs. You should always consider whether or not you can afford the high risk of completely losing your funds.

KEY TAKEAWAYS

  • Great offering of worldwide stocks for trading
  • Fast and reliable order execution via Equinix
  • Regulated in the UK, Australia and South Africa
  • Zero minimum deposit for the Standard account

Regulations and Money Protection

5.0  


Entity Name Think Capital Limited (BM) TF Global Markets (Aust) Limited TF Global Markets (UK) Limited TF Global Markets (South Africa) (Pty) Ltd
Licence & Regulation Bermuda Registration Australia ASIC Licence UK FCA Licence South Africa FSCA Licence
Client Money Protection ✔️ - segregated client money
Deposit Compensation Scheme ✔️
up to £85,000
Negative Balance Protection ✔️ ✔️

Entity/Regulation

  • International customers: Think Capital Limited, will be the counterparty for International customers. This entity, with registered address at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda is registered in Bermuda with company number 51879.

  • Australian customers: TF Global Markets (Aust) Limited, with registered address at Level 18, 357 Collins St, Melbourne VIC 3000 Australia, is licensed by the Australian Securities & Investments Commission (ASIC) to carry out financial services business in Australia, limited to the financial services covered by its AFSL license. The trading name, ThinkMarkets, used by TF Global Markets (Aust) Limited, is also used by the other entities.

  • UK customers: TF Global Markets (UK) Limited is a company registered in England and Wales under number 09042646. Principal and registered office at: Hana, 4th Floor, 70 St Mary Axe, London EC3A 8BE, United Kingdom. TF Global Markets (UK) Limited is authorised and regulated by the FCA with licence number 629628.

  • South Africa customers: TF Global Markets (South Africa) (Pty) Ltd, registered in South Africa with company number 2017/098181/07 and with registered address at 4th Floor, 96 Rivonia Road, Sandton, 2196, is authorized and regulated by South Africa's Financial Sector Conduct Authority (FSCA) with a financial services provider license number 49835.

Client Money Protection

  • ThinkMarkets complies with the highest safety standards for client's funds. For this reason, ThinkMarkets client's funds are kept in top-tier international banks, such as Barclays Bank, National Australia Bank and Commonwealth Bank of Australia, fully segregated from the company's funds.

  • ThinkMarkets also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. ThinkMarkets holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

TF Global Markets (UK) Limited is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If TF Global Markets (UK) Limited is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation (up to the value of £85,000) per claim.

Negative Balance Protection

  • For accounts opened via Think Capital Limited (BM) and TF Global Markets (South Africa) (Pty), there is no negative balance protection to prevent clients from keeping their accounts balance below zero, meaning that in extreme market volatility, and without an adequate stop loss in place, a losing trading position can cause a negative account balance.

  • For customers of TF Global Markets (Aust) Limited and TF Global Markets (UK) Limited, negative balance protection is in place by default, protecting traders from any losses bigger than their original investments.

Professional Indemnity Insurance

ThinkMarkets has purchased a private $1 Million insurance, with Lloyd's of London that protects clients' funds for up to $1 million in the unlikely event of insolvency. This insurance is an innovative product that provides greater protection to customers and compensation rights. This individually covers retail deposits and funds up to 1,000,000 USD as standard.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Standard
✔️ThinkZero
❌PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
✔️Stocks
✔️Futures
❌ETFs
❌Bonds
✔️Commodities
✔️Cryptos
✔️MT 4
✔️MT 5
❌cTrader
✔️ThinkTrader
❌Myfxbook
✔️ZuluTrade
30:1 UK

500:1 Australia

500:1 Rest of World

Account types and currencies

  • ThinkMarkets offers only two types of trading accounts; Standard and ThinkZero. ThinkMarkets also offers swap-free accounts for traders of Islamic belief.

  • ThinkMarkets allows for social trading, including copy trading, available through ZuluTrade.

  • ThinkMarkets does not offer PAMM accounts alternatives for money managers.

  • ThinkMarkets maximum leverage is 30:1 for accounts opened in the UK, up to 500:1 for accounts opened in Australia and up to 500:1 for accounts opened in other countries around the world.

  • Currently, ThinkMarkets trading accounts are only available in AUD, EUR, CHF, GBP, JPY and USD.

Financial instruments

Trading with ThinkMarkets can be done via the Metatrader 4, Metatrader 5 platforms and ThinkTrader, ThinkMarkets own proprietary platform. All the trading platforms are available on desktop and mobile trading versions. The broker offers a great selection of assets to trade, including Forex, indices, stocks, commodities, futures and cryptocurrencies.

  • FX market - 40 currency pairs (including Minor and Exotic crosses).

  • Indices - 21 world indices, including UK 100, GER 30 and AUS 200.

  • Stocks - 1,000+ stocks CFDs from worldwide top companies and banks, such as Amazon, Goldman, Alibaba or Facebook. Also provided by ThinkMarkets, 13 bonds futures contracts including world indices, metals and energies.

  • Commodities - 10 commodities CFDs available for trading; 7 metals (Silver, Gold and Copper included) and 3 energies including UK Oil, US Oil and Nat Gas.

  • Cryptocurrencies - 5 CFDs crosses for trading, including Bitcoin, Ripple and Litecoin.

Pricing

5.0  


Pricing/
Account
Standard ThinkZero
Spread EUR/USD from 1.0 pip from 0.0 pip
Commissions (1 lot) from 7 USD
Minimum Deposit from 0 USD from 500 USD

Spreads

ThinkMarkets trading spreads are not the most competitive in the market, for the entry-level account (Standard account). For the most traded pair, the EUR/USD, the minimum spread starts at 0.4 pip with an average of 1.3 pip. On the positive side, with a ThinkZero account, the EUR/USD minimum spread is 0.0 pip.

To benefit from the ultra-low spreads there's a cost, of course, meaning that the ThinkZero accounts have commissions. For the same example, EUR/USD, with the ThinkZero account the standard lot commission for 1 lot (100,000 units) is 7 USD (3.50 USD per side, per lot), or the equivalent on your account currency. This commission is on average compared with other top brokers.

Rollover Rates

ThinkMarkets swap rates, as of 09-09-2020, for 1 lot EUR/USD (100,000 units) stands at an average rate of -5.26 for holding overnight a long 1 lot contract and at +0.03 for holding overnight a short 1 lot contract. We consider these swap rates to be average compared with the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 6 different currencies and maintained via 5 different funding methods, including cards, bank wires and e-payments such as Neteller, Skrill and BitPay for cryptocurrencies; Bitcoin, Ether, Bitcoin Cash. Deposited funds are available, normally, within 10 minutes. ThinkMarkets does not charge any fees for deposits.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary depending on the withdrawal method chosen, it can take between 1-7 working days). Withdrawal via bank wire requires 3-5 business days to complete. While ThinkMarkets do not charge any fees, there might be other charges made by the banks and any intermediaries involved, payabale by the customer. In general, an international bank wire transfer costs 25 USD. The minimum withdrawal amount is 100 USD. For more information, please visit the ThinkMarkets deposit and withdrawals dedicated page.

  • Inactivity fee - ThinkMarkets does not charge an inactivity fee or any account maintenance fees.

Popularity

4.0  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Forex Courses
Market Analysis
Cards
Bank Wire
E-payments
Cryptocurrencies
✔️ Multi language
24/5 Support
Live Chat

The popularity of ThinkMarkets with traders scores 4.0 out of 5.0, especially because of their lack of advertising. Still, ThinkMarkets should be considered a sound option if traders are looking for an alternative broker and/or if considering cryptocurrencies trading, as they offer very competitive conditions.

The broker also boasts fast and reliable order execution due to a partnership with Equinix, the world's largest data centre. When trading with ThinkMarkets, trades will be executed at one of Equinix's Data Centre in LD5 London or with Equinix in Hong Kong, the later set-up to best serve ThinkMarkets Asia's based traders with the speed and reliability of high-performance data centres.

  • Trading accounts - The ThinkMarkets ThinkZero trading account is a popular choice with traders looking to save on trading costs, with a lower spread and a commission of $7.00 per lot traded. Extra points for ThinkMarkets' policy of no fees on deposits or withdrawals.

  • Forex education - ThinkMarkets loses a couple of popularity points for the lack of Forex education materials available on their website. Traders can only find a few FX trading courses, in 3 different levels; Beginner, Intermediate and Advanced. Other than that, only the market analysis blog.

Funding Methods Bank Wire, China Union Pay, GlobalCollect, Neteller, Skrill (Moneybookers), Webmoney, Bitpay
Support Languages Arabic, Chinese, Czech, English, German, Greek, Indonesian, Italian, Polish, Spanish, Thai, Vietnamese


  • Minimum deposit - Opening a trading account with ThinkMarkets is quite easy and fast, taking around 5 minutes to complete all the forms with the required information. The minimum deposit requirement for the Standard account is 0! Zero. Which is very good, offering traders the possibility to have a real feel for the broker's trading platforms, how the spreads widen on high impact news and for the overall trading conditions. For the ThinkZero account the minimum deposit is 500 USD/EUR/GBP, or any other currency when opening an account.

  • Customer support - ThinkMarkets' multi language customer support service is available 24 hours, 5 days a week, in 12 languages. ThinkMarkets' support is available via global phone numbers (depending on jurisdiction), email and live chat directly from the broker's website.

Broker Profile

Established in 2010, ThinkMarkets (formerly ThinkForex) is a premium multi-asset online brokerage with headquarters in London and Melbourne and hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America.

ThinkMarkets provides quick and easy access to a wide range of markets, including Forex, CFDs on equities, cryptocurrencies, commodities, indices, futures and more. Trading with ThinkMarkets is available through some of the most recognized trading solutions – the industry-standard MetaTrader4, the next-generation Metatrader 5 and their inhouse developed platform ThinkTrader, highly recommended by the forex community.

ThinkMarkets strives to deliver educational tools and resources that enable traders to further develop their trading skills and, as a company, is committed to upholding the trust and confidence of their clients by adhering to transparency policies. The company is recognized by some of the most trusted financial regulatory bodies – FCA, FSCA and ASIC.

Overall, on our ThinkMarkets review, the broker scores a great 4.7 out of 5 as it is a great choice for traders looking for a broker with good regulations in place and guaranteed safety of funds. Also on a positive note, the great selection of trading assets, with over 1,000 stocks to trade, and the availability of the ThinkTrader mobile App. On the downside the broker loses a couple of points for their limited offering of Forex educational materials, which could be enriched with more tools and resources to help, especially, the new retail traders. 


Data supplied in partnership with CashBackForex - Forex Rebates places ThinkMarkets on the top 20 brokers for popularity with traders opening an account in 2020.


Was this review helpful? Share it with a friend!

ThinkMarkets User reviews

Account types:
Sort:
4.7
(22 reviews)

ThinkMarkets user rating score rank: 3 out of 35

ThinkMarkets Account types user rating

ThinkMarkets Products

Forex
Indices
Metals
Shares/Equities
Oil/Energies
Bitcoin
Cryptocurrencies