Home Broker Reviews 2020 ThinkMarkets Review

2020 ThinkMarkets Review

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ThinkMarkets is a CFD and Forex broker that offers access to several instruments and markets, such as indices, commodities, and currencies. It is an excellent broker for those looking to trade cryptocurrency CFDs. 

Good:

  • Segregated Client Funds
  • Established In 2010
  • ASIC And FCA Regulations
  • Minimum Deposit From €0

Bad:

  • Limited Instruments


This broker is regulated by FMA in New Zealand, the Financial Conduct Authority in the United Kingdom, and ASIC. ThinkMarkets was established in 2010 and has several years of experience in online trading and segregated client funds management. 

Getting Started With ThinkMarkets 

ThinkMarkets offers a demo account which is an excellent way for you to familiarize yourself with their platform. 

The minimum deposit fee with this broker starts at €0, and it can make a smooth transition from the demo o the live account. 

1. Fees and Spreads 

ThinkMarkets charges a fee from the spread, the difference between the sell and buy price of an instrument. 

The information about fees and spreads is shared on ThinkMarket’s website, as shown in the table below. 

Forex

ThinkMarkets

City Index

XTB

USD/EUR

0.5 pips

0.7 pips

0.1 pips

USD/GBP

1.2 pips

1.7 pips

0.1 pips

USD/JPY

1.0 pips

0.6 pips

0.1 pips

USD/AUD

0.8 pips

0.6 pips

0.2 pips

USD/CHF

1.0 pips

2.3 pips

0.2 pips

USD/CAD

0.9 pips

0.5 pips

0.3 pips

USD/NZD

2.0 pips

2.8 pips

0.3 pips

GBP/EUR

1.0 pips

0.5 pips

0.1 pips


The minimum spread for trading USD/EUR is 0.5 pipis, a lower one than the standard USD/EUR spread of 0.70 pips. 

For example, if you were to acquire one standard lot of USD/EUR (100k units) with ThinkMarkets at an market rate of 1.1719 and then sell it the following day at the same price, you would pay $9.37. 

Here’s how this broker’s fees compare against its main competitors AvaTrade and XTB. 

Header

ThinkMarkets

XTB

AvaTrade

Spread From:

$1

$2

$7

Commission:

$0

$0

$0

Cost Of A 100k Trade

$1

$2

$7

2. Assets 

ThinkMarkets provide more than 50 distinct trading instruments, including more than 34 currency pairs. Here’s a review of the diverse types of assets offered by this broker. 

Currency CFDs/FX

ThinkMarkets

XTB

AvaTrade

Total Forex Pairs Available

34

48

59

Major Forex Pairs

Yes

Yes

Yes

Minor Forex Pairs

Yes

Yes

Yes

Exotic Forex Pairs

Yes

Yes

Yes

Cryptocurrencies

Yes

Yes

Yes

Total Commodities Available

0

21

16

Metals

Yes

Yes

Yes

Energies

Yes

Yes

Yes

Agricultural

No

Yes

Yes

Total Stocks Available

0

1606

99

UK Shares

Yes

Yes

Yes

US Shares

Yes

Yes

Yes

German Shares

Yes

Yes

Yes

Japanese Shares

Yes

Yes

Yes

3. Trading Apps & Platforms 

This broker provides access to MT4 and MT5 trading platforms to enable traders to use their preferred device when trading with ThinkMarkets. 

The mobile app is accessible on iOS and Android, and it comes with a user-friendly interface to execute trades on-the-go. 

4. Accounts & Funding Methods 

ThinkMarkets enables you to execute a minimum trade of 0.01 lot, but this can vary based on your account type. The maximum trade varies based on the instrument and the trader performing the action. This broker also has STP execution, and it can offer some of the most transparent tight spreads among brokers. 

ThinkMarkets may have lower entry requirements than an ECN broker, who focuses on a high volume of traders and large capitals. 

What we like most about this broker is their claim to have no requotes. This means you shouldn’t worry about trades being ordered at a different cost than what you executed them at. 

Margin requirements are variable and depend on the trader, instruments, and accounts. 

Here is a list of the trading features, accounts, and funding methods available with ThinkMarkets. 

Trading Features

Accounts

Funding

Scalping

Demo Account

Credit Card

Hedging

Mini Account

Bank Transfer

STP Available

Standard Account

Payoneer

Low Minimum Deposit

Zero Spread Account

Neteller

Cell

Islamic Account

168

Since ASIC and the Financial Conduct Authority regulate ThinkMarkets, new clients must pass some standard compliance verifications to ensure you’re aware of the trading risks. Creating an account with this broker means you’ll verify it by: 

  • Submitting a scanned color copy of your ID, driver's license, or passport 
  • Submitting a bank statement or utility bill from the past three months to verify your address 

Besides this, you’ll have to answer a couple of questions to confirm your trading experience. Overall, the account creation process at ThinkMarkets won’t take more than 10 minutes to complete. Keep in mind that you won’t be able to make any trades until your account is verified. 

5. Customer Support 

This broker’s customer support is available in various languages like Japanese, Chinese, and English. 

ThinkMarkets received a AA support rating due to the reliability of this service. 

The Bottom Line 

ThinkMarkets is one of the leading CFD and forex brokers on the market, with a reliable trading platform and excellent customer service. It has a long track record in the industry, but its range of instruments might be too limited for some traders. 

Methodology

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this testing methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

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