Abstract：Founded in 2010, ThinkMarkets is a broker offering global forex and CFD trading services, regulated by several authorities, including the FCA and ASIC. The company has offices in various countries around the world, including Johannesburg (South Africa), Tokyo (Japan), Limassol (Cyprus), Dubai, London (UK), and Melbourne (Australia).
ThinkMarkets Overview
Founded in 2010, ThinkMarkets is a broker offering global forex and CFD trading services, regulated by several authorities, including the FCA and ASIC. The company has offices in various countries around the world, including Johannesburg (South Africa), Tokyo (Japan), Limassol (Cyprus), Dubai, London (UK), and Melbourne (Australia).
It offers over 4,000 global assets, including forex, indices, commodities, stocks, ETFs, CFDs, and cryptocurrency CFDs. Traders can use platforms such as MT4, MT5, and its proprietary ThinkTrader to execute trades.
Heres a quick overview of the pros and cons:
ThinkMarkets Safety and Protection
ThinkMarkets operates under the regulation of several top-tier financial authorities globally, ensuring its compliance and the safety of client funds. As a company under primary regulation, ThinkMarkets is strictly regulated by major authorities such as the FCA (UK), ASIC (Australia), CySEC (Cyprus), and JFSA (Japan), offering multiple protective measures including client fund segregation, negative balance protection, and mandatory margin calls.
In addition, ThinkMarkets provides an extra insurance plan that can offer up to $1 million in protection for client funds in extreme cases. The company is also regulated by secondary authorities such as FSCA (South Africa) and FSA (Seychelles).
The specific regulatory licenses are as follows:
Editor's Comment
ThinkMarkets operates under multiple layers of regulation, both primary and secondary. It's mainly regulated by top-tier authorities like the FCA, ASIC, CySEC, and JFSA, which provide a solid foundation of security for investors.
However, while regions like Australia don't have mandatory balance protection or margin call requirements, ThinkMarkets still offers client fund segregation and additional insurance coverage.
For investors seeking more security, the oversight from secondary regulators like FSCA and FSA adds an extra layer of reliability and transparency.
Overall, ThinkMarkets does well in terms of compliance, but keep in mind that regulatory standards might not be as strict in some markets compared to top-tier regulators, so investors should consider this when choosing the platform.
Account Types
ThinkMarkets offers three live account types, as well as demo accounts and swap-free Islamic accounts. Below is a comparison of the three live account types, all of which have a leverage of 1:500 and spreads starting from 0.0.
ThinkMarkets Demo Account
The demo account is an ideal tool for both beginners and experienced traders to enhance their skills and test strategies. By using virtual funds, you can familiarize yourself with the trading platforms and market conditions without any risk, preparing you for live trading.
ThinkMarkets offers demo accounts on three platforms: MT4, MT5, and ThinkTrader. MT4/MT5 demo accounts will expire after 90 days of inactivity, while ThinkTrader accounts have no expiration limit, although ThinkMarkets reserves the right to close them.
ThinkMarkets Islamic Account
ThinkMarkets offers Islamic swap-free trading at the individual account level. By default, all applicable trading accounts created for clients from non-Islamic countries are provided with extended swap-free status.
ThinkMarkets Joint Account
ThinkMarkets does offer a joint account option. The ThinkMarkets joint account is an account with two primary users, both of whom can deposit, withdraw, and trade.
Setting up a ThinkMarkets Demo Account: A Step-by-Step Guide
Creating a demo account with ThinkMarkets is a straightforward and quick process. The procedure is fully digitalized and consists of just three simple steps.
Step 1: Complete the Online ApplicationTo begin, applicants need to fill out the online registration form, which asks for basic personal information. Along with the application, you'll need to upload documents to verify your identity and proof of address.
Required documents include:
- Photo ID: A valid passport, government-issued ID, or National Identity Card.
- Proof of Address: A utility bill, bank statement, or landline phone bill (note: the document should be no older than 180 days).
Step 2: Joint Account ApplicantsIf you're applying for a joint account, both applicants need to provide their respective personal details and documentation. For corporate accounts, all company directors and shareholders owning more than 25% of the company need to submit photo IDs and proof of address as well.
Step 3: Approval and Login InformationOnce the application and documents are submitted, you can expect to receive your login details within two working days, provided all documents are valid.
ThinkMarkets also allows traders to hold multiple accounts and easily transfer funds between them.
Fees
ThinkMarkets offers three account types with varying deposit requirements and spreads:
- Standard Account: Minimum deposit of $250, with spreads starting at 0.4 pips.
- ThinkTrader Account: A more accessible option with a $50 minimum deposit and spreads starting at 0.4 pips.
- ThinkZero Account: Designed for traders seeking raw spreads, requiring a $500 minimum deposit, and offering spreads as low as 0.0 pips. Its perfect for day traders, scalpers, and those using Expert Advisors (EAs), with low commission fees.
Deposit & Withdrawal
Withdrawal of Funds Rules
To withdraw funds, log in to ThinkPortal and go to Funding > Withdraw funds.
- Return to Source: Withdrawals must be processed to the original deposit method (e.g., Skrill, bank wire, credit card). If not possible, the payment will be made via bank wire to the account holder's name.
- Processing Time: Typically processed within 24 hours, but may take 1-7 business days depending on the withdrawal method.
- Bank Wire: Takes 3-5 business days. Third-party fees (typically USD25 for international transfers) may apply. Minimum withdrawal is USD100.
- Fees: ThinkMarkets doesn't charge withdrawal fees but may pass on third-party charges. Fees may apply for minimal trading activity.
- Profits and Balances: Profits or amounts over the initial deposit are processed via bank wire. E-wallets have a maximum withdrawal of 10,000 units.
- Credit Card: Withdrawals follow the FIFO rule to the original card if not expired.
- Cryptocurrency: Withdrawals are processed via USDT (ERC-20/TRC-20) or bank wire.
Trading Platforms
ThinkMarkets offers five trading platforms to suit different traders needs: ThinkTrader, TradingView, MT4, MT5, and Traders' Gym. All platforms are available on web, desktop, and mobile for convenient access anytime, anywhere.
Editor's Comment
Among these platforms, ThinkTrader offers powerful charting tools, making it suitable for users who need to monitor multiple markets in real-time. Its integration with TradingView enhances chart analysis capabilities. MetaTrader 4 and 5 are ideal for experienced traders, offering automated trading and fast execution. Traders' Gym provides convenient backtesting for strategies, helping to optimize trading performance.
Overall, ThinkMarkets is suitable for a wide range of traders, with particular strengths in technical analysis and automated trading. Beginners may find the features complex and somewhat challenging to use, but fortunately, ThinkMarkets offers training resources to help newcomers get up to speed quickly.
Trading Services
ThinkMarkets offers the following three trading services:
- Signal Centre: Provides up to 50 daily trading signals (a combination of human and AI-generated), covering multiple markets such as forex, stocks, and cryptocurrencies. The signals include precise entry, target, and stop levels, with updates every hour, helping users simplify trading decisions.
- Virtual Private Server (VPS): Allows users to execute automated trading strategies 24/7 with ultra-low latency (1ms). The VPS also supports remote access, ensuring stability in trading. ThinkMarkets customers enjoy a 30% discount on this service.
- ThinkCopy: Beginners can save time by automatically copying trades from experienced traders, and potentially earn returns. It offers a convenient social trading platform for users to expand their portfolios and socialize with other traders.
Editor's Comment
The three services provided by ThinkMarkets cater to various types of traders. Whether simplifying decisions with the Signal Centre, executing round-the-clock automated trading with VPS, or copying successful traders through ThinkCopy, users can find a suitable way to enhance their trading efficiency. For beginners, ThinkCopy is undoubtedly a friendly tool to get started, while VPS is ideal for those looking to engage in high-frequency trading over the long term.
Conclusion
In conclusion, ThinkMarkets is a broker with multiple regulatory backgrounds, offering a variety of account types and platforms to meet the needs of different traders. Its extremely good trading conditions, low spreads, flexible leverage, and multi-platform support make it an ideal choice for day traders, scalpers, and users of Expert Advisors. Through additional services like the Signal Centre, VPS, and ThinkCopy, ThinkMarkets helps traders optimize their strategies and improve trading efficiency.
