ThinkMarkets Review 2021 - Verified Customer Reviews

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4.7
User Rating
4.6
(25)
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ThinkMarkets Review

Updated August 10, 2021
4.7
Score breakdown
Pricing: 5
Regulation: 5
Popularity: 4
User Rating: 4.6 (25)

ThinkMarkets overall score rank: 2 out of 45

ThinkMarkets Forex broker review

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

  • Great offering of worldwide stocks for trading
  • Fast and reliable order execution via Equinix
  • Regulated by the UK FCA, Australia ASIC, South Africa FCSA and 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 (Aust) Limited Australia ASIC Licence ✔️
segregated client money
✔️
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
Think Capital Limited (BM) Bermuda Registration

Entity/Regulation

  • 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 licence. 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 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.

  • International customers: TF Global Markets Int Limited will be the counterparty for International customers. This entity, with registered address at CT House, Office 9B, Providence, Mahe, Seychelles is authorised and regulated in the Seychelles by the Financial Services Authority under Firm Reference 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.

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 the TF Global Markets Int 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 (Aust) Limited, TF Global Markets (UK) Limited and TF Global Markets (South Africa) (Pty) 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 *subject to regulation
✔️MT 4
✔️MT 5
❌cTrader
✔️ThinkTrader
✔️Myfxbook
✔️ZuluTrade
30:1 UK

30:1 Australia

500:1 Rest of World

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 30:1 for accounts opened in the UK and Australia, 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, 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. Trading instruments may vary depending on the ThinkMarkets entity, thus not all trading instruments may be available in your country. At ThinkMarkets you can trade:

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

  • Indices - 16 world Indices, including UK 100, GER 30 and AUS 200, plus, an additional 6 AUD denominated CFD Indices.

  • Stocks - 1,500+ 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.

  • 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 - 16 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.

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 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
Email

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
Support Languages Arabic, Bulgarian, Chinese, Czech, English, German, Greek, Indonesian, Italian, 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 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 1,500 stocks to trade, and the availability of the ThinkTrader 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 2020.


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4.6
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ThinkMarkets user rating score rank: 4 out of 45

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ThinkMarkets Products

Forex
Indices
Metals
Shares/Equities
Oil/Energies
Bitcoin
Cryptocurrencies