ThinkMarkets Broker Review
Commissions & Fees
Education and Research
ThinkMarkets is an international forex broker that gives traders many interesting options. ThinkMarkets allows for global trading and has many interesting features. Read our thorough review on ThinkMarkets and find out if this broker fits your trading style.
ThinkMarkets is an international firm with offices in London, Melbourne, as well as hubs in Asia Pacific, the Middle East, North Africa, Europe, and South America as well. With this being the case, it is a truly international brokerage that can give you access to the world’s financial markets.
ThinkMarkets allows traders to trade global markets in the form of CFD markets, including indices, shares, metals, commodities, cryptocurrencies, and then of course there is a Forex trading available, giving you the opportunity to truly traverse the financial world, taking advantage of global correlation between markets, as well as giving you an opportunity to avoid correlations if needed.
ThinkMarkets opened in 2010 by a group of registered professionals in London as well as Melbourne Australia, using the latest technology to facilitate trades across the world. They are heavily regulated and insured, giving you the ability to be at ease when it comes to your segregated funds. Being regulated by the FCA, the Financial Conduct Authority in the United Kingdom allows for compensation of 50,000 British pounds. Not only that, they have purchase Excess of FSCS Insurance, which keeps investors insured up to 1 million British pounds. Beyond that, they are also registered by the Australian Securities and Investment Commission and hold an Australian Financial Services License.
Opening An Account With ThinkMarkets
ThinkMarkets allows individuals open up accounts with as little as $250 deposit, giving them access to all markets that they offer. That being said, keep in mind that they do not allow US traders. There are demo account available obviously, but there are also individual, joint, and corporate accounts available. There is the Standard and the Pro account, offering different spread schemes. Beyond that, there are also MAM and PAMM accounts available as well under the banner of ThinkInvest, allowing you to use multiple money managers to place trades in your name, or if you are a money manager yourself, allocating trades in multiple account simultaneously. If you are interested in that, there is a large amount of information on the website that allows you to decide who to use, or for that matter whether or not you wish to manage other people’s money by being placed on the leaderboard. It should also be noted that Islam make accounts are available as well, for those who need no swap accounts due to religious reasoning.
ThinkMarkets Product Offerings
As mentioned previously, ThinkMarkets offers both currency trading and contract for difference markets. The Forex offerings are some of the usual that you would expect like the EUR/USD pair, but they also have such pairs as the EUR/TRY, the USD/SGD, and the USD/MXN. Because of this, you have the ability to express your opinion on global economies in a varied and drastic way.
The energy markets are represented by the US Crude Oil market and the Rent Crude oil market. Precious metals offer both gold and silver, not only in the standard size, but also the mini contract. Crypto offers Bitcoin, Bitcoin Cash, Neo, Ethereum, and a few others. The equity section offers a basket of shares by a specific country. You should think of them as being similar to an ETF. There are also futures offerings as well, giving you access to many different markets.
The following indices are available to trade through CFD markets:
- Australia 200
- France 40
- Germany 30
- UK 100
- S&P 500
- Dow Jones Index
- EuroStoxx 50
- Nikkei 225
- NASDAQ 100
- Spain 35
- Hong Kong 50
- China 50
The following metals are available through CFD markets:
- Gold Pro
- Mini Gold
- Mini Silver
The following energy markets are available through CFD markets:
- US Crude Oil
- Brent Crude Oil
The following soft commodities futures are available through CFD markets:
The following hard commodity markets are available to trade through CFD futures:
- Natural Gas
The following financial index is available to trade through CFD futures:
- US Dollar Index
The following Forex markets are available at ThinkMarkets:
The following cryptocurrencies are also available as CFDs:
- Ethereum Mini
- Bitcoin Cash
- Bitcoin Gold
- Bitcoin Mini
The following shares are available as CFDs:
- Equities UK
- Equities EU
- Equities US
- Equities CH
- Equities GR
- Equities SE
- Equities PL
- Equities AU
- Equities HK
ThinkMarkets Commissions and Fees
There are no fees or commissions to be mentioned, as ThinkMarkets is a market maker, meaning that they make their money based upon the spread. With that being the case, you do not have to worry about trading costs, as they are clearly laid out on the website as to what the minimum spread will be based upon the account that you open. Obviously, the futures markets would in theory have a commission or fee, but they are not routed to Chicago, so it is based solely upon the CFD market which also has a built-in spread instead of a commission to facilitate the trade and pay the broker.
Platforms and Tools
ThinkMarkets offers a couple of different trading platforms that you can use. The first one that they offer is something called Trade Interceptor, a proprietary trading application that runs on mobile, desktop, and tablet environments. This gives traders the ability to add custom indicators, and of course the ability to customize as needed. You can download this for Windows-based machines, there is even a download for Macintosh systems as well.
What is unique is that the mobile app offers iPhone compatibility, but it also has a quad screen, allowing you to have four charts up at once. This gives you the ability to trade correlated markets or watch out for over correlation in your trading schemes and setups. There are a full suite of indicators that are available, and it is every bit as powerful as most desktop platforms.
There is also the ability to trade through the Metatrader 4 platform, something that most of you should be familiar with. It is the industry standard, and there are multiple versions available. This is integrated with Autochartist as well, one of the best tools out there to identify trading patterns such as wedges, flags, or EMA breaks. This is available on all time frames, and of course all markets. This platform right along with this tool is a trusted combination for traders around the world, and of course will have a familiar feel for most of you. It also course has the ability to run on mobile phones and has been tested over several years, meaning that it is an extraordinarily reliable platform.
The educational section is rather extensive, as ThinkMarkets has a ton of videos for all levels. The beginner section goes anywhere from how to start trading the markets to explain the CFD market, margin and leverage, and Metatrader 4 basics. This is an excellent place to learn that the very fundamentals of trading. There is an entire course that you can take based upon learning the fundamentals.
Beyond that, there’s the intermediate section that has tips and tricks with the platform, risk management, how to create a trading plan, chart patterns, stop losses and take profit orders, order types, price charts, and bid/ask spreads. The intermediate section is very comprehensive and takes quite a while to get through.
The advanced section has technical analysis, fundamental analysis, Fibonacci ratios, Japanese candlesticks, support and resistance, time zones in the liquidity difference between all of them, market participants, and of course trading styles. After that, you can look at the upcoming webinars, trading guides, and of course glossary. The size of the educational section is quite impressive.
There are also other tools such as FX wire Pro, which of course is a news service, a market news area, webinars, and the ability to use the web-based MT4 super platform.
Differentiators for ThinkMarkets
One of the biggest differentiators of ThinkMarkets is that it is regulated in both Australia and the United Kingdom, offering it a significant amount of reliability built into the regulatory body. Beyond that, you can get institutional type spreads with deposits as little as $200. Most of the spreads that I am seeing at this brokerage firm are typically saved for those who are either institutional traders or have larger accounts. This is one of the big driving points of ThinkMarkets from the beginning: trying to level the playing field between retail and institutional traders.
The wide range of markets also helps, as it allows the trader to trade the entire world. Leverage runs all the way up to 500:1, but obviously some markets will be different, such as crypto currency which is just at 5:1, although it should be pointed out that is very large for most firms. Please remember though that leverage cuts both ways, meaning that if you are inexperienced you may wish to dial this back just a bit.
ThinkMarkets Customer service
ThinkMarkets has strong customer service, as they are available 24 hours a day on days that the markets are open. You have the ability to call 24 hours for phone support, as well as live chat and email. There are phone numbers to both the British and the Australian offices, giving you the ability to contact them 24 hours a day. They also of course have email support that can be reached 24 hours a day. They have a large FAQ section that answers most questions that you would have. You can also manage your account via a proprietary dashboard called ThinkPortal.
ThinkMarkets has an excellent rating at several forums, as well as good standing with the Australian and British authorities. The group has been around for almost a decade, allowing for millions of trades. The massive amount of regulation that the company has gone through in both the United Kingdom and Australia means that clients have the benefit of strong regulatory bodies and an open and transparent environment that can be checked online rather easily at either one of those regulatory sites. With that being the case, and the fact that they have purchase extra insurance beyond the 50,000 British pounds that come with an FCA regulatory licensure, this is a very strong sign as well. They have facilitated both the retail and institutional accounts and have been able to make headways into many investment banks.
Conclusions for ThinkMarkets
ThinkMarkets is one of the strongest brokers out there that we have experienced and has thousands of fulfilled and satisfied clients. They are heavily regulated, with two of the more stringent regulators watching them, and are heavily insured to protect your segregated account. In fact, they are insured up to 1 million British pounds through extra insurance policies that they have taken out for their clients.
ThinkMarkets have been explosive in their growth over the last several years, considering that they have hubs all of the world after just shy of a decade. That type of growth with good ratings around the world is rare, and it shows just how satisfied clients are. The ability to trade a world of markets of course is a major advantage, although I would point out that it would be nice if they had more than Berkshire, LPP, and country ETS to trade as far as stock CFD’s are concerned. All things being equal though, this is a market maker that gives you the ability to express your views on a multitude of markets, allowing you to avoid heavily correlated markets, or taking advantage of them if you happen to miss a trade in one, that could be leading the other.
- Heavy and reliable regulation with the FCA and ASIC
- You can trade multiple markets around the world
- Tight spreads
- Familiar platforms
- Lack of individual stock CFDs
- Cannot accept US clients