ThinkMarkets Review

ThinkMarkets Review

Forex, Indices, Metals, Energy, Shares & Cryptocurrencies

  • FCA & ASIC regulated ✔
  • EUR/USD spreads from 0.4
  • No dealing desk execution
  • Trader Friendly grade: A
  • Cryptocurrency CFDs
  • ThinkZero spreads from 0
  • No minimum deposit
  • 90+ technical indicators
  • Trade Interceptor platform
  • MT4 trading
0 Pip Spread Forex Broker • ThinkMarkets

ThinkMarkets Review

ThinkMarkets is a no dealing desk broker with tight spreads, offering deep liquidity and high speed order execution. ThinkMarkets is a rebranding of the successful Forex and Metals broker, ThinkForex. It offers Forex and Metals trading as might be expected, and also a range of other markets.

ThinkMarkets provides Trade Interceptor, which has replaced its ThinkTrader platform, available along with MT4. It has a range of account types, namely Standard and ThinkZero and all offer MT4. However ThinkZero does not offer Trade Interceptor, this is available on the Standard account.

The account types have different minimum deposits and offer some different services, but in essence the ThinkZero account provides low Forex spreads plus a commission charge, while Standard does not. However tight Forex spreads without a commission charge are available on the Standard account.

A GBP spread betting account is offered for the MT4 platform. Spread betting Forex spreads are tight as well.

Awards

ThinkMarkets won 'Best Forex Trading Innovation' and 'Best Forex Trading Experience' at the 2017 UK Forex awards. In 2012 ThinkForex was the winner of 'Best Customer Service' at the UK Forex Awards and 'Best Online FX Provider' at the MoneyAM Awards. In 2013 ThinkForex was awarded 'Best Broker Australia' at the World Finance awards.

Shares trading

ThinkMarkets has expended its offering of markets, by providing over 130 Shares CFDs, covering the US, Europe and Australia. No commission is charged, spreads are from 0.1% and leverage is up to 5:1 for ThinkMarkets (FCA regulated) and 10:1 for ThinkMarkets (ASIC regulated).

Cryptocurrency trading

On its UK Trade Interceptor and MT4 platforms, ThinkMarkets provides Cryptocurrency CFDs.

  • Trade Interceptor and MT4 CFD trading offers Bitcoin (BTC/USD), BTC/USDMini, Bitcoin Cash (BCH/USD), Bitcoin Gold (BTCGold/USD), Ethereum (ETH/USD), ETH/USDmini, Dash (DASH/USD), Neo (NEO/USD) and Ripple (XRP/USD).
  • MT4 Spread Betting offers Bitcoin (BTC/USD), Bitcoin Cash (BCH/USD), Ethereum (ETH/USD), Dash (DASH/USD), Neo (NEO/USD), Litecoin (LTC/USD), Iota (IOTA/USD), Metaverse ETP (ETP/USD), OmiseGo (OMG/USD), Monero (XMR/USD), Ripple (XRP/USD) and Zcash (ZEC/USD).

Account types and minimum deposit

ThinkMarkets offers a Standard account and a ThinkZero account. There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $500. The Standard account does not charge commissions, the ThinkZero account does charge a commission. An Islamic (Swap Free) account is available.

All three account types provide 24/6 Live support, a free VPS service and Daily Insight. Daily Insight is a daily email from ThinkMarkets's Senior Market Analyst. The ThinkZero account also provides Autochartist and a dedicated account manager.

ThinkMarkets says it does does not requote, delay or reject orders.

Account opening and offer

Opening an account is the UK is straightforward and quick, and can normally be verified online without further documentation. However, in some cases and for overseas customers further documentation may be required. Additional accounts can be added from the dashboard.

Account currencies

ThinkMarkets offers accounts in GBP, USD, EUR, AUD and CHF, except for the spread betting account which is available in GBP.

Platforms

ThinkMarkets offers Trade Interceptor and MT4. ThinkMarkets partners with Equinix to provide fast order execution. For all accounts it uses Equinix's LD5 (London) and HK4 (Hong Kong) data centres. Locating their trading servers in Equinix data centres allows the broker to co-locate with liquidity providers and other market participants, leveraging physical proximity to provide speed, which can be particularly important for traders running automated trading strategies (robots). Optical fibre cables and other infrastructure enables very fast routing of orders and other data processing.

Trade Interceptor has a list of individual markets, with a plus and minus below it. The plus brings up markets, namely Commodities, Crypto, Forex, Gold, Indices, Minis (XAG/USD and XAU/USD) and Silver. There is a chart in the center (from which markets can also be accessed), with Candlesticks, Bar Chart, Line Chart, Heikin Ashi, HLC Chart, HL Chart, Mountain, Candlevolume, Equivolume, Renko, Point & Figure and Kagi chart types and 90+ indicators.

A headline newsfeed runs across the top of the Trade Interceptor platform. There is also an Economic Calendar and a TrendRisk Scanner. The TrendRisk Scanner sets targets for markets and gives a risk/reward figure.

MT4 is available as a desktop application, as a webplatform and on mobile for all three account types. MT4 is available to run any Expert Advisor, Trading Strategy or Indicator and provides signals and Copy Trading. ThinkMarkets also makes available MT4 Super to all live account holders. MT4 Super provides a suite of apps and adds-ons to help the trader.

Minimum trade size

Both the Standard and ThinkZero accounts have a minimum trade size of 0.01 lots (micro lots). For spread betting the minimum trade size is 10p.

Markets

  • ThinkMarkets makes available the following markets to trade: Forex, Energy, Indices, Metals, Shares and Cryptocurrencies.
  • On the UK MT4 account, ThinkMarkets offers 50+ spread betting products (Forex, Indices, Energy and Metals), along with 50+ CFDs (Forex and Cryptocurrencies), with 40+ Forex pairs as CFDs or spread betting products.
  • On Trade Interceptor, ThinkMarkets offers 185+ CFDs (with 35+ Forex Pairs).

ThinkMarkets does not offer a large number of individual markets to trade but this is a no dealing desk broker and the size of its offering is competitive with other brokers which offer fast NDD execution, particularly as it provides Shares CFDs.

Spreads and leverage

  • Spreads at ThinkMarkets are tight. On the Standard CFD account, Forex spreads are as low as 0.4 pips. On the spread betting account, Forex spreads are as low as 0.8. On the ThinkZero account, spreads are as low as 0 pips. The commissions charged on the ThinkZero accounts are also competitive. For the ThinkZero account commissions are $3.5 or £2.5 per standard lot per side.
  • As ThinkMarkets offers both CFD and spread betting accounts, there are some differences in the spreads on each account type.
  • Spread betting Standard spreads are variable and are from 0.8 for EUR/USD, with a target spread from 1 for UK100 and with an average spread of 0.20 for Gold and 0.04 for US Crude Oil. ThinkMarkets's ThinkZero spreads are from 0 for EUR/USD, plus a commission charge.
  • Spread betting spreads are from 0.8 for EUR/USD, with a target spread from 1 for UK100 and with an average spread of 0.20 for Gold and 0.04 for US Crude Oil.

Maximum leverage at ThinkMarkets (ASIC regulated) is 500:1 and maximum leverage ThinkMarkets (FCA regulated) is .

Funding

Deposit methods include Bank Wire, Global Connect, Credit/Debit Card, Neteller, Skrill, BPAY, China UnionPay, Netbanx and FasaPay. ThinkMarkets does not change for withdrawals by bank wire transfer. There is a $5 fee for withdrawals by credit card.

Regulation

ThinkMarkets is a trading name of TF Global Markets (UK) Ltd and TF Global Markets (Aust) Pty Ltd. TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority, FRN 629628, registered address: 2 Copthall Avenue, London EC2R 7DA and company number: 09042646. TF Global Markets (Aust) Pty Ltd is the holder of Australian Financial Services Licence number 424700, registered address: Level 11, 636 St. Kilda Road, Melbourne, VIC, Australia 3004 and ABN: 69158361561.

Summary and grade

ThinkMarkets is a regulated broker offering no dealing desk execution on a range of markets, covering CFD trading and spread betting. ThinkMarkets offers low variable spreads and a range of account types, which bring extra features for higher deposits. This broker uses ECN technology to provide high speed execution and low spreads.

ThinkMarkets has a moderate offering of individual markets, however this broker should perhaps be seem more in the light of ECN brokers which provides high speed trading, in which case its offering is competitive. It terms of its offering of Cryptocurrency CFDs, it has a wide range available. ThinkMarkets offers very low Forex spreads with a relatively low commission charge, for the ThinkZero account. For its Standard account, it still provides low variable spreads without a commission charge.

As ThinkMarkets offers tight spreads for the Standard account, low ECN caliber spreads for the ThinkZero accounts and provides a range of platform types and features, it receives a Trader Friendly grade of A.

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