About the company
CEO Nauman Anis launched ThinkMarkets in 2010. The firm is part of Think Capital Limited, a Bermuda-based company with offices in Melbourne and London.
Since 2010, the online broker has grown to 550,000 users in 180 countries, including Indonesia, Egypt, the United Arab Emirates, and Bulgaria. The Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority of the United Kingdom (FCA), the Financial Conduct Authority of South Africa (FSCA), and the Seychelles Financial Services Authority all regulate the broker (FSA).
In addition, the broker received two additional licenses from regulatory authorities; Cyprus Securities and Exchange Commission (CySEC) in Europe, and the Japan Financial Services Agency (JFSA).
The ThinkTrader broker’s platform is user-friendly and intuitive. Users get over 80 indicators, 50 drawing tools, and 14 different chart types. Customers also receive about 200 free cloud notifications. Direct trading on charts, standard risk management tools, and several order types are also available.
The MT4 platform is free to download on your computer. The platform promises fast trade execution, over 100 indicators, and one-click trading. The MT4 system also comes with many excellent apps and additional features, including free access to Trading Central, VPS, and FXWirePro.
The MT5 platform is the latest version of the popular MT4 software. It is especially liked by experienced traders, offering more advanced trading tools and analysis features. Users benefit from an additional built-in economic calendar.
Tradable instruments include:
- Forex — 40 large, small and exotic
- Promotions – over 1500 promotions are available
- Indexes – more than 15 global indexes
- Commodities – oil, gas, and agriculture
- Precious metals – gold, silver, platinum, and copper.
- Cryptocurrencies – Bitcoin, Ethereum, Dash, and others
(By law, Cryptocurrency CFDs are not offered to retail traders in the UK.)
Spread betting is also only available to UK customers.
Spreads and commissions
Spreads are variable and start at zero pips, while average spreads on an account for major currency pairs such as EUR/USD and GBP/USD are 0 pips and 0.4-0.5 pips respectively.
The broker reserves the right to charge inactivity fees. Traders will be happy to see that there are no swap rates here.
- Forex – leverage up to 1:500
- Indices – leverage up to 1:200
- Commodities – leverage up to 1:200
- Cryptocurrency – leverage up to 1:10
To avoid a margin call, make sure you have enough equity in your account.
Please note that the maximum leverage available for European, UK, and Australian traders is 1:30 as per the rules.
ThinkTrader, the company’s full-service mobile app, is available for both iOS and Android smartphones. Over 15,000 people have given the app five stars.
Thousands of markets, in-app chat assistance, and a variety of analytical tools and technical indicators are all available through the award-winning mobile app.
There are several ways to fund an account (which may vary depending on the country of residence of the client):
- Bank transfer – available currencies: AUD, GBP, EUR, CHF, USD. Estimated processing time: 1-3 business days
- Credit and debit card – available currencies: AUD, GBP, EUR, CHF, USD. Estimated Processing Time: Instant
- Skrill – available currencies: AUD, GBP, EUR, CHF, USD.
- Estimated processing time: up to 10 minutes
- Neteller – available currencies: AUD, GBP, USD, JPY, EUR. Estimated processing time: up to 10 minutes
- Bitpay – Available currencies; Bitcoin, Ethereum, and Bitcoin Cash. Estimated processing time: up to 10 minutes
The Standard account does not require a minimum deposit, however, the Premium account does. The Premium account requires a minimum deposit of $500/GBP.
The withdrawal and deposit methods must be the same for security reasons. Withdrawals are typically handled within 24 hours, but they might take up to seven days. The minimum withdrawal amount for wire transfer withdrawals is $/£100. There are no costs associated with depositing or withdrawing monies from the broker.
A sample account with $25,000 in cash is available. Users may fine-tune methods and test platforms while becoming acquainted with the available tools.
Demo accounts on the MT4/MT5 platforms expire after 90 days of inactivity, whereas demo accounts on the ThinkTrader platform do not expire but are subject to closure by the business.
ThinkMarkets features a huge educational resource library. There are free video courses and a trading glossary for novices. Intermediate and advanced traders can also benefit from tutorials. On the broker’s website, you may also get trending PDFs, market news, and blogs from industry professionals.
Many tools are available to assist traders in increasing earnings and reducing losses.
- Standard Account – FX has an average spread of 1.2 pips, no commission or minimum deposit, and a maximum trade size of 50 lots. The standard account has access to the VPS via MT4 and MT5, but no access to the account manager.
- ThinkZero – 0.1 pips average FX spread, $3.5/£2.5 per unit fee per side, $500/£500 minimum deposit, and 100 maximum trade size lots. ThinkZero is best suited for traders who need zero spreads and large position sizes.
Islamic trading accounts and joint accounts are also available.
Please note that the broker does not use an ECN model and is primarily a market maker.