ThinkMarkets review research (formerly ThinkForex), shows that the broker came into action in New Zealand in 2010 and 2012. It moved its headquarters to Australia. Because it obtained regulations from the Australian Securities and Investment Commission (ASIC) under TF Global Markets Pty.
In 2015, ThinkMarkets set up the London office. Since then, the Financial Conduct Authority (FCA) in the United Kingdom (UK) under TF Global Markets Limited regulated ThinkForex.
The company also has a parent entity on the Bermuda market, Think Capital Limited. Also, they are available to customers in desirable locations as part of its global offer.
In May 2017, ThinkMarkets took over the Trade Interceptor, a popular application for the mobile exchange of third-party companies. Trade Interceptor now has full integration with the Think Markets platform, replacing the previous ThinkTrader platform.
ThinkMarkets MT4 and Platforms
At the moment, you will only have access to two accounts when you sign up with the broker. As with most of what you will find, the MT4 platform has so much to offer the people who use it. You will have a VPS added to the mix to make it even better.
VPS comes free to those who get to complete a set number of lots in a month. Aside from ThinkTrader MT4, the broker also has a ThinkMarkets trader interface that is unique and takes some effort to gain familiarity.
At the moment, the ThinkMarkets MT4 is the only one that is accessible on a web-based platform. Their proprietary software is not.
ThinkMarkets Account Types
ThinkMarkets offers three types of accounts and a separate account type for its Trade Interceptor offer. The ThinkMarkets review shows account types you will find here are simple and easy to use when you know how most of the forex world works.
The minimum you will need when you want to open an account is only $250, and it works for the Standard account. This is the bare-bones setup for beginners. The Pro account is next and will require a deposit of $2000 while the last one (VIP Account), needs a minimum deposit of $25,0000.
The higher tier accounts cost more because they have more features and free services that are incorporated into the accounts.
The standard report is free of commission (applies only to spreads) and requires a minimum deposit of USD 250. In contrast, the Pro-based commission involves the funding of USD 2,000 and has a commission of 3 units per page or six units per turn (RT), which corresponds to 0.5 pips RT per standard.
Using data from another company's website, myfxbook spreads on EUR / USD amounted to an average of 1.0 pips within a period of 48 hours from June 6 to June 8, 2017. For the Pro account.
With a spread of 1 pip, the total cost would be 1.6 pips, after taking into account the RT commission of 0.6 pips, which is added to the dominant spreads.
ThinkMarkets Best Features
Our ThinkMarkets review shows that ThinkMarkets MT4 is not the only thing about the awesome broker. You will also have access to:
- A broad range of markets where you can discover hundreds of markets that are available to trade with more added. They will include forex with over 38 major, minor and exotic pairs, cryptocurrencies, indices, metals, commodities, shares, and others.
- A platform that widens your range and gives you a better edge. You will get powerful, mobile-optimized, and packed with tools that support any of your trading styles. You will be able to use MetaTrader 4 and ThinkMarkets’ proprietary platform when you get the hang of it and MetaTrader 5 as well.
- A way to stay ahead of the curve using daily market commentary, trading guides, breaking news, and analysis is provided.
Our ThinkMarkets review shows that you can do all these and benefit significantly from what they have to offer you.
At this broker, they have a reasonably ordinary operation. There have been a few complaints about this department, but they generally seem to be very kind and helpful when you get connected with them.
Support is reachable through two phone numbers from around the globe. You will find them here below and reach out to ask any questions you may have about complicated things like ThinkMarkets MT4 and any other issues that may be the problem.
Thinkmarkets Details Overview
|Established: 2010||Website: https://www.thinkmarkets.com|
|Address: TF Global Markets, 4th Floor, 30 City Road, London, EC1Y 2AY., United Kingdom.||Minimum to Open Live: $1|
|Prohibited Countries: : Canada, Japan, and the USA.||Regulators: ASIC- Australian Securities and Investments Commission #424700, FSCA- Financial Sector Conduct Authority #49835 and FCA- The Financial Conduct Authority #629628.|
|Minimum Trade Size: 0.01||Regional Offices: Australia and Bermuda.|
|Maximum Leverage: 1:500||ECN: Yes.|
|Mobile Trading: Available||Currencies: 35+|
|Trading Platforms: MT4, MT5 and Trade Interceptor.||Cryptocurrencies: 5+|
|Robots: Available.||CFD: 1200+ including Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities.|
|Scalping: Allowed||Web Trading: Available|
|Deposit Methods: Bank Wire, VISA, MasterCard, BitPay, BPAY, FasaPay, Neteller, PayPal, Skrill.||Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill.|