Company Introduction
ThinkMarkets has emerged in 2010 as a very client-friendly online brokerage firm globally operating from Melbourne, Australia. It also has branch offices in London and Dubai. ThinkMarkets is renowned for offering some of the finest trading solutions in the business, from accessibility to the account to the trading of various assets from forex, CFDs, and cryptocurrencies. It offers solutions both for retail and professional traders, having advanced trading platforms and delivering very competitive rates.
Pros and Cons
Pros
- Extensive Range of Investments: Offers a substantial range of tradeable symbols, notably 4,000
- Advanced Trading Platforms: Provides both MetaTrader 4 and MetaTrader 5, alongside a proprietary platform
- Education and Resources: Availability of both beginner and advanced educational videos enhances learning opportunities
Cons
- Average Fees: Commissions and fees are rated as average, which might not appeal to cost-sensitive traders
- Limited Forex Pairs
Security Concerns
ThinkMarkets has high regulatory oversight from:
- The Financial Conduct Authority in the UK
- The Australian Securities and Investments Commission (ASIC)
- The Financial Sector Conduct Authority in South Africa
Client monies are maintained in separate accounts in high street banks with all forms of protection for clients, including a guarantee, negative balance protection, and ensuring a totally secure environment through trading.
Type of Instruments
More than 1,200 varieties of tradable financial instruments are available from ThinkMarkets:
- Forex: Major, minor, and exotic currency pairs
- Commodities: Gold, silver, crude oil, and agricultural products
- Stock Indices: Global indices like the S&P 500, NASDAQ, and DAX
- Shares: CFDs on global equities
- Cryptocurrencies: Well-renowned cryptocurrencies like Bitcoin, Ethereum, and Ripple.
Account Options
Standard
Minimum deposit | 0 |
---|---|
Commission | 0.4 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 500:1 |
Margin call level | 100 |
Stop-out level | 50 |
ThinkTrader
Minimum deposit | 0 |
---|---|
Commission | 0.4 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 500:1 |
Margin call level | 100 |
Stop-out level | 50 |
ThinkZero
Minimum deposit | 0 |
---|---|
Commission | 0.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 500:1 |
Margin call level | 100 |
Stop-out level | 50 |
Fees and Commissions
The pricing for ThinkMarkets is clear and transparent:
- Trading Fees: ThinkZero accounts will trade from 0.0 pips, and per lot per side $3.50 as commission, whereas Standard Account offers wide spreads and no commission.
- Non-Trading Fees: No inactivity fees, but withdrawal fees might be applicable based on the payment method.
Trading Platforms
Available tools | Forex, Commodities, CFD Shares, Indices, CFD Shares, Cryptocurrencies, CFD ETFs, Cryptocurrencies |
---|---|
Cryptocurrencies | BTC, XRP, LTC, ADA, DASH, DOT, ETH, SOL, XLM, XMR |
CFD | Forex: 42 Indices: 18 Metals:7 Energy:3 ETFs: 357 Stocks: 2900 Futures: 6 Cryptocurrency: 22 |
ThinkMarkets supports various trading platforms for different types of traders:
- MetaTrader 4 (MT4): The MT4 platform affords some trust over other online trading platforms for trading forex and CFDs, with abilities such as facilitating automated trading.
- MetaTrader 5 (MT5): An enriched MT4, facilitates more assets like market depth integration.
- ThinkTrader: This platform is exclusive to ThinkMarkets and boasts intuitivity, advanced charting tools, and mobile trade capabilities.
Customer Support
The customer support offered by ThinkMarkets is multilingual:
- Live Chat: Support through direct enquiry.
- Email Support: Normally responds within 24 hours.
- Phone Support: Telephone numbers dedicated to areas where businesses are operated across the world.
The support operates 24 hours/week in accordance with the operational hours built in different areas.
Setting up an Account
Opening a ThinkMarkets account requires the following:
- The completion of an online application with personal and financial details.
- Submission of necessary documents for proof of identity and address.
- Cash deposits via available payment options.
Deposits and Withdrawals
Through various options, ThinkMarkets enables deposits and withdrawals, such as:
- Payment Methods: Money transfers through bank advisors, payment cards or net wallets like Skrill or Neteller, and any regional payment solutions.
- Period: Presently, cash deposits are processed in real-time while withdrawals take 1-3 business days.
- Commission: No fees for deposits; withdrawals depend on the withdrawal method used.
FAQ
Does ThinkMarkets have regulations as a broker?
Yes, FCA, ASIC, and FSCA regulate ThinkMarkets, resulting in a safe trading environment.
What are the types of trading platforms available from ThinkMarkets?
ThinkMarkets offers MetaTrader 4, MetaTrader 5, and a platform created by them called ThinkTrader.
How much is the minimum deposit required to open an account?
An account can be opened by just investing $0 in a Standard account and $500 in ThinkZero accounts.
How much leverage does one avail?
ThinkMarkets has leverage of up to 1:500, depending on the asset class and the location.