ThinkMarkets Review 2023 - Verified Customer Reviews
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ThinkMarkets Review
Updated July 11, 2022
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% of retail investor accounts lose money when trading CFDs with TF Global Markets (UK) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Excellent range of global stocks available for trading
- Fast and reliable order execution via Equinix
- Regulated in the UK, Australia, Europe, Japan, South Africa and by the Seychelles FSA
- Zero minimum deposit for the Standard account
Regulations and Money Protection
5.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| TF Global Markets (Europe) Ltd | Cyprus CySEC Licence | ✔️ segregated client money |
✔️ up to €20,000 |
✔️ |
| TF Global Markets (Japan) Ltd | Japan FSA Licence | ❌ | ❌ | |
| TF Global Markets (Aust) Limited | Australia ASIC Licence | ❌ | ✔️ | |
| TF Global Markets (UK) Limited | UK FCA Licence | ✔️ up to £85,000 |
✔️ | |
| TF Global Markets (South Africa) (Pty) Ltd | South Africa FSCA Licence | ❌ | ✔️ | |
| TF Global Markets Int Limited | Seychelles FSA Licence | ❌ | ❌ |
Entity/Regulation
- International regulation: TF Global Markets Int Limited will be the main counterparty for international customers. This entity, with registered address at CT House, Office 9B, Providence, Mahe, Seychelles is authorised and regulated by the Seychelles Financial Services Authority (FSA) with a Securities Dealer licence, number SD060.
Another counterparty for international customers is the Think Capital Limited entity, registered in the Bermuda, with company number 51879, and legal address at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. Think Capital Limited is not required to hold any financial services licence, or authorization, in Bermuda to offer its products and services. - Australian regulation TF Global Markets (Aust) Limited, registered address at Level 18, 357 Collins St, Melbourne VIC 3000 Australia, is licensed by the Australian Securities & Investments Commission (ASIC) to offer financial services in Australia, limited to the services covered by its AFSL licence, number 424700. The trading name, ThinkMarkets, used by TF Global Markets (Aust) Limited, is also used by the other entities.
- UK regulation: 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.
- European regulation: TF Global Markets (Europe) Ltd is registered as a Cyprus Investment Firm (CIF) authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), with licence number 215/13. TF Global Markets (Europe) Ltd registered address is Office 301, 3rd floor, Pamelva Court, Griva Digheni 2 Street, 3035, Limassol, Cyprus. The CySEC licence allows TF Global Markets (Europe) Ltd to carry out brokerage activities in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.
- Japan regulation: TF Global Markets (Japan) Limited, with registered address at 2 13 1 Akasaka, Minato ku, Tokyo 107 0052 Lucent Akasaka 3F, Japan, is licensed by the Japanese Financial Services Agency (JFSA), with licence number 0250.
- South Africa regulation: TF Global Markets (South Africa) (Pty) Ltd, registered in South Africa with company number 2017/098181/07 and with registered address at 61 Katherine Street, Dennehof, Sandton, 2196, is authorized and regulated by South Africa's Financial Sector Conduct Authority (FSCA) with a financial services provider licence 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.
TF Global Markets (Europe) Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for clients of CIF companies, and its functions are regulated by the directive DI87-07 of the CySEC. In the unlikely event that TF Global Markets (Europe) Ltd is unable to meet its obligations, clients might be entitled to compensation, up to the value of €20,000 per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).
TF Global Markets (Europe) Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for clients of CIF companies, and its functions are regulated by the directive DI87-07 of the CySEC. In the unlikely event that TF Global Markets (Europe) Ltd is unable to meet its obligations, clients might be entitled to compensation, up to the value of €20,000 per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).
Negative Balance Protection
- For accounts opened via the TF Global Markets Int Limited, TF Global Markets (Japan) Limited and the Think Capital Limited entities, there is no negative balance protection to prevent clients from keeping their accounts balance below zero. This means 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 (Europe) Ltd, TF Global Markets (Aust) Limited, TF Global Markets (UK) Limited and TF Global Markets (South Africa) (Pty) Ltd, 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 Europe 30:1 UK 30:1 Australia 25:1 Japan 500:1 Rest of World |
| *Please note that crypto CFDs offering are subject to the contracted entity and regulations. | ||||
Account types and currencies
- ThinkMarkets offers two main trading accounts types; 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 and via Myfxbook Autotrade for Think Capital Limited (BM) customers only.
- ThinkMarkets has PAMM accounts for money managers and also the MAM (Multi-Account Manager) feature.
- ThinkMarkets maximum leverage is up to 30:1 for accounts opened in Europe, the UK and Australia, up to 25:1 for accounts opened in Japan, and up to 500:1 for accounts opened in other countries around the world.
- Currently, ThinkMarkets trading accounts are available in AUD, CAD, CHF, EUR, GBP, JPY, SGD, USD and ZAR -subject to the selected ThinkMarkets entity.
Financial instruments
Trading with ThinkMarkets can be done via the MetaTrader 4, MetaTrader 5 platforms and ThinkTrader, the broker's proprietary platform. ThinkMarkets trading platforms are available for desktops, web browsers and mobile devices running on iOS and Android. The broker offers a great selection of assets to trade, including forex, indices, stocks, commodities, futures and cryptocurrencies. Trading instruments may vary depending on the ThinkMarkets entity, thus not all trading instruments may be available in your country. With ThinkMarkets you can trade:
- FX market - 46 currency pairs (including Minor and Exotic crosses).
- Indices - 17 world Indices, including UK 100, GER 30 and AUS 200, plus, an additional 6 AUD denominated CFD Indices.
- Stocks - 3,500+ stocks CFDs from worldwide top companies and banks, such as Amazon, Goldman, Alibaba or Facebook. Also provided by ThinkMarkets, 11 futures contracts including energies and commodities, such as Cotton and Cocoa, as well as over 350 ETFs including iShares, Vanguard, SPDR and more.
- Commodities - 11 commodities CFDs available for trading; 8 metals (Silver, Gold and Copper included) and 3 energies including UK Oil, US Oil and Nat Gas.
- Cryptocurrencies - 27 CFDs crosses for trading, including Bitcoin, Ripple and Litecoin. *Please note that Crypto CFDs are not offered to retail clients in the UK, as per FCA regulations.
Pricing
5.0
| Pricing/ Account |
Standard | ThinkZero |
|---|---|---|
| Spread EUR/USD | from 0.4 pip | from 0.0 pip |
| Commissions (1 lot) | ❌ | $3.5 per side (100,000) *applies only to FX and Metals |
| Minimum Deposit | from 0 USD | from 500 USD |
Spreads
ThinkMarkets trading spreads are quite competitive, when compared to it's peers. For the entry-level account - the Standard Account - the most traded pair, EUR/USD, has a starting spread of just 0.4 pip (average spread depends on the market conditions at the time), and without any trading commissions. Also positively, with a ThinkZero account, the EUR/USD minimum spread is a low 0.0 pip.
To benefit from the ultra-low spreads there's a cost, of course, meaning that the ThinkZero accounts have trading commissions. For the same example, the EUR/USD pair, 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 when compared with other top brokers. The great feature about ThinkMarkets trading commissions is that commissions are only applied to FX and Metals on the ThinkZero account. All other asset classes are commission free.
To benefit from the ultra-low spreads there's a cost, of course, meaning that the ThinkZero accounts have trading commissions. For the same example, the EUR/USD pair, 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 when compared with other top brokers. The great feature about ThinkMarkets trading commissions is that commissions are only applied to FX and Metals on the ThinkZero account. All other asset classes are commission free.
Rollover Rates
ThinkMarkets swap rates, as of 05-04-2022, 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 when compared with the rollover rates offered by other top forex brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 9 different currencies and maintained via different funding methods, including Debit and Credit 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. Please note that not all account base currencies and funding methods may be available in your country.
- 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, payable by the customer. In general, an international bank wire transfer costs 25 USD, and the minimum withdrawal amount, is 100 USD. For more information, please visit the ThinkMarkets deposit and withdrawals dedicated page, or log in to your ThinkPortal.
- Inactivity fee - ThinkMarkets reserves the right to charge an inactivity fee.
Popularity
4.0
| Forex Education | Deposit Options | Deposit/Withdrawals Fees | Non expiring demo account | Customer Support |
|---|---|---|---|---|
| Trading Glossary Forex Courses Educational Videos Market Analysis Weekly Webinars Trading Guides |
Debit/Credit Cards Bank Wire E-Wallets Cryptocurrencies |
❌ | ✔️ | Multi language 24/7 Support Live Chat Phone |
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 lower spreads and attractive trading commissions of $7.00 per lot traded. Extra points for ThinkMarkets' policy of no fees on deposits or withdrawals.
- Forex education - ThinkMarkets also scores extra popularity points with traders for their range of forex education materials, available on their website and social media. Traders can find a great trading glossary, ideal for beginners, free FX trading courses, in 3 different levels; Beginner, Intermediate and Advanced, trading guides and educational videos on ThinkMarkets YouTube channel. For the traders following the market's price action and latest events, ThinkMarkets has a curated market analysis blog and a weekly webinar.
| Funding Methods | Bank Wire, Credit/Debit Card (Visa, Mastercard), Crypto Wallet, UnionPay (China), Neteller, Skrill (Moneybookers), Bitpay, PayPal, Nuvei, CardPay |
|---|---|
| Support Languages | Arabic, Bulgarian, Chinese, Czech, English, German, Greek, Indonesian, Italian, Japanese, Malay, Polish, Portuguese, 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 accepted currency when opening an account.
- Customer support - ThinkMarkets' customer support service is available 24 hours, 7 days a week, in multiple 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 well-deserved 4.7 out of 5 as it is a great choice for traders looking for a CFDs broker with good regulations in place and retail client safety of funds. Also on a positive note, the great selection of trading assets, with over 3,500 stocks to trade, and the possibility of trading/managing the account with the excellent ThinkTrader web & mobile app. On the downside the broker loses a couple of points for the availability of forex educational materials, which could be enriched with more tools and resources to help, especially, 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 2022.
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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 well-deserved 4.7 out of 5 as it is a great choice for traders looking for a CFDs broker with good regulations in place and retail client safety of funds. Also on a positive note, the great selection of trading assets, with over 3,500 stocks to trade, and the possibility of trading/managing the account with the excellent ThinkTrader web & mobile app. On the downside the broker loses a couple of points for the availability of forex educational materials, which could be enriched with more tools and resources to help, especially, 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 2022.
Was this review helpful? Share it with a friend!
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