ThinkMarkets review
Introduction of the broker ThinkMarkets
Thinkmarkets is a renowned CFD broker that facilitates trading with a wide range of financial instruments. The offering includes over 1200 assets, including stocks, commodities, indices, ETFs, cryptocurrencies, and forex. This extensive selection provides traders with numerous opportunities to diversify their portfolios and optimize trading strategies.
Trading Platforms
Thinkmarkets provides access to several popular trading platforms, including MetaTrader 4, cTrader, and MT4 for mobile devices. MetaTrader 4 is well-known for its robustness and extensive capabilities for technical analysis and automated trading. cTrader is highly valued for its intuitiveness and advanced trading tools.
One of the main advantages of Thinkmarkets is its regulation and security. The broker is regulated by the FCA (Financial Conduct Authority) in the UK and the ASIC (Australian Securities and Investments Commission) in Australia. Regulation by these authorities ensures the safety of deposits and client protection. The broker uses the STP/ECN model, meaning it passes trading orders directly to the market without a dealing desk's intervention. This model ensures fast and efficient trade execution and minimizes conflicts of interest between the broker and the client.
For those who do not want to deposit real money, there is an unlimited demo account, which is an option for novice traders to practice trading without the need for a deposit.
Minimum Deposit and Trading Conditions
Thinkmarkets offers accessible trading conditions with a minimum deposit of 250 USD. This low entry deposit allows even beginner traders to enter the markets. The minimum trade size is 0.01 lots, enabling traders to manage risk and capital effectively.
The spread is variable and starts from 0.4 pips for EUR/USD on the Standard account. For those who prefer lower spreads and are willing to pay commissions, ThinkZero offers commission fees of 3.5 USD per lot. Inactivity fees are applied only if there is no trading activity on the account for an extended period.
ThinkMarkets supports various deposit and withdrawal methods, including credit cards, Skrill, NETELLER, bank transfer, and more. This variety provides traders with flexibility in managing funds and facilitates quick and convenient transactions. Fast deposits and withdrawals are one of the main benefits the company offers its clients.
Special Features and Tools
Thinkmarkets is characterized by several unique features and tools. Hedging is allowed, enabling traders to protect against adverse market movements. The broker also supports automated trading systems, beneficial for experienced traders who utilize algorithmic strategies. Autochartist is available for free and provides automated technical analyses that help identify trading opportunities. Furthermore, Thinkmarkets supports social trading through Myfxbook, allowing traders to follow and copy other traders' strategies. The broker also offers educational materials, regular analyses, and commentary.
Summary
Thinkmarkets is an excellent choice for traders seeking a reliable and regulated CFD broker. Its wide range of trading tools and platforms, including MetaTrader 4, cTrader, and mobile apps, offers flexibility and advanced trading capabilities. Regulation by the FCA and ASIC provides a high level of security and trustworthiness. Additionally, tools like Autochartist and social trading via Myfxbook add value compared to the competition.
Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
| Basic information | |
|---|---|
| Regulations |
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| Number of CFD asset classes | 6 |
| Broker type | MM |
| Customer support |
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| Deposit from | 250 EUR/USD |
| Spreads | 0.4 EUR/USD *The value is indicative from the broker's website. The spread amount is variable. |
| Real Stocks and ETFs | |
| Platforms |
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| Instruments CFD | Commodities, Share CFDs, Forex, ETF, Cryptocurrency traded as CFD, Indicies |
| Established | 2010 |
| Location | LimassolOffice 301, 3rd floor, Pamelva Court,Griva Digheni 2 Street,3035, Cyprus |
| Phone | +357 25 258372 |
| Country | Cyprus, Australia |
| Last update: | |
Pros
- Low spreads: ThinkMarkets offers competitive spreads starting from 0.4 pips on the EUR/USD currency pair.
- Powerful trading platforms: The broker provides three different trading platforms: MetaTrader 4, MetaTrader 5, and ThinkTrader. These platforms are known for their stability, wide range of technical analysis tools, and support for automated trading systems.
- Wide range of trading instruments: ThinkMarkets allows trading of more than a thousand different instruments, including currency pairs, commodities, indices, cryptocurrencies, and stocks.
- Unlimited demo account: The broker offers a demo account with a virtual deposit of $50,000, which is unlimited in time.
- No deposit and withdrawal fees: ThinkMarkets does not charge any fees for deposits and withdrawals.
Cons
- Commission fees for stocks and ETFs: The broker charges commission fees for trading stocks and ETFs, with the minimum fee possibly being high for smaller accounts.
- Inactivity fee: If your account is inactive for 90 days, the broker will charge a fee of £50 quarterly.
- Customer support issues: Some traders complain about poor customer support, which responds slowly or not at all to their inquiries.
- Slippage and spread widening: In discussions, traders often criticize frequent slippage in order execution and spread widening in certain situations, which can negatively affect trading results.
Licences and regulation
ThinkMarkets is a global broker regulated by various financial authorities around the world. Below are the individual TF Global Markets Limited companies and their respective regulatory authorities:
- TF Global Markets Pty Ltd - ASIC (Australia) registration no. 424700 ABN: 69158361561
- TF Global Markets (Europe) Ltd - CySEC (Cyprus) registration no. 321503
- TF Global Markets (Aust) Ltd - FMA (New Zealand) registration no. FSP623289
- TF Global Markets Limited - FCA (UK) registration no. 629628
- TF Global Markets (Pty) Ltd - FSCA (SA) registration FSP No 49835
- TF Global Markets Int Limited - FSA (Seychelles) registration no. 8424818-1
