|Platforms||ThinkTrader for Web, ThinkTrader for Mac, ThinkTrader Mobile, MT4 Web, MT4 Mac, MT4 Mobile|
|Minimum account size||$250|
|Minimum lot size||0.01|
|Spread on EUR/USD||0.1 pips|
|Payment methods||Credit/Debit Cards, Bank Wire, PayPal, Skrill, Neteller, Payment Asia, FasaPay, WebMoney|
|Accepts US traders||No|
|Regulated||FCA (UK), ASIC (Australia)|
|Support||Email, Phone, Live Chat|
ThinkMarkets is a forex and CFD brokerage that has been in the business since 2010. They were previously known as ThinkForex before rebranding to its present name and launching its own proprietary platform.
ThinkMarkets was previously referred to as ThinkForex. It is operated by TF Global Markets. It has a license from the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK which means that they have passed the strict requirements of the most-trusted financial regulatory bodies in the world.
There are two major platforms to choose from. The first is the proprietary and fully customizable ThinkTrader which has a 1-click trading feature, custom order tickets, a selection of technical analysis and charting tools, autochartist and over 100 indicators. It has a web- based portal, a software for Mac computers and applications for mobile devices. There’s also the advanced MetaTrader 4 or MT4 which is institutionally known for providing ultra-fast trade execution and its integrated indicators and equipment. There is web-based version, a downloadable software program intended for Mac computer systems and mobile applications as well. We were able to test all of them and were highly satisfied with its quality.
Both the ThinkTrader and MT4 systems have user-friendly layouts so you won’t get confused using the respective interfaces. They run perfectly smooth on computer systems, web browsers and mobile devices while the loading was impressively fast
There are three different account types and if you just prefer the Standard account, you need to initially fund it a minimum of $250. The Pro and VIP accounts however require higher deposits at $2, 000 and $25, 000, respectively. It’s a tad higher than the requirements of other brokerages but certainly not that far
Minimum Lot Size
All accounts types accept a minimum contract size of 0. 01 which is by standard the smallest trade size to initiate a position. It’s also worth mentioning that they allow partial purchase closing or closing partial size positions of any multiple increment value.
ThinkMarkets has 50+ instruments available on their systems. You can trade on more than 30 currency pairs, indices, energies and commodities. Some brokerages nevertheless offer much more choices but the consolation here is that the instruments that they have are those that have high trading volumes.
Even during volatility, they can provide very tight spreads even on major forex pairs. The EUR/USD for example includes a spread of zero. 8 pips for Standard bank account types while Expert and Premium account holders will be able to enjoy much lower spreads in 0. 1 pips.
If you want to withdraw your funds, you have to download a withdrawal request form which is in PDF format and send it back to their support team. The processing time takes only 24 hours to complete and is much faster than their competition.
Deposit and Drawback Methods
Funding your trading accounts can be done via a selection of payment methods. You can use credit or debit cards (Visa and MasterCard), Bank Wire, PayPal, Skrill, Neteller, Payment Asia, FasaPay or perhaps WebMoney.
They have multilingual support group that is available 24 hours a day, 6 days a week. You have the option to contact them via their global phone numbers in the united kingdom, Australia and Spain, email, live chat or requesting a call back by submitting a support ticket. We could actually get in touch with their particular customer service agents and had been extremely impressed on how fast and accommodating they are in answering all of our questions and handling our concerns.
Their partnership with an established data centre like Equinix allows then to provide institutional buy execution. This was proven by our tests which revealed highly accurate market prices.
- Fast order execution
- Tight spreads
- Comprehensive trading education materials
- US traders not accepted
- Trading conditions and access to certain platforms are based on account type