ThinkMarkets Review 2023: Is ThinkMarkets Broker Safe?

ThinkMarkets provides an easy-to-use trading platform with trading features for both new and experienced traders. In addition, ThinkMarkets consumers benefit from the ThinkMarkets platform being available in over 12 different languages. The site takes measures to provide the right assistance when accounts lose money. Also, if you have any doubts regarding deposit methods or payment methods and ThinkMarkets account types, you can also get in touch with them instantly. In 2010, ThinkForex was launched in New Zealand to improve the forex trading experience by offering cutting-edge technologies to the community. ThinkMarkets does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment.

• Overall, ThinkMarkets is a solid if unexciting Forex broker, but we would like to see more transparency on its average spreads and possible withdrawal charges.
• On the whole, Zulutrade is an excellent social trading platform, particularly for beginners who are new to the trading space.
• Islamic trading accounts do not pay and receive swap rates derived from interest rates and instead pay a flat rate fee for open positions.
• Todate, I haven’t received the money and the company seems not to care.

Overall, ThinkMarkets provides a broader range of tradable instruments than most other brokers, which should leave most professional traders satisfied. ThinkMarkets’ MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes, 30 indicators, and interactive currency charts. Functionality to close and modify existing orders, calculate profit/loss in real-time, and tick chart trading further empowers traders while on the move. ThinkMarkets’ trading platform selection is better than most other brokers, with MT4, MT5, and its own proprietary trading platform. ThinkMarkets offers ten base currencies, which is more than most other brokers, and it offers accounts denominated in AUD.

72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take thinkmarkets broker review the high risk of losing your money. The Zulutrade copy-trading service requires a subscription of 30 USD per month, and the VPS service has a subscription fee unless traders trade over 15 lots per month.

ThinkMarkets standard account

The same payment methods that deposit warrants are used to carry out a withdrawal request. The time it takes for you to receive your funds usually ranges from 1- 7 business days and is determined by the withdrawal method chosen. Although they do offer a lot of base currencies including AUD, NZD, USD, and EUR. Some of them might not be available to some ThinkMarkets traders because of their country of residence.

Both accounts are accessible as demo accounts and Islamic accounts, and ThinkMarkets also provides a specialized Joint Account that two or more individual professional traders may use. There are many ThinkMarkets pros and cons of using this platform to generate income and start trading. Everything from providing the best user experience to charging lower fees, this platform outshines its competitors in various ways. The customer support is also excellent, but we recommend you approach the support team over live chat.

ThinkMarkets reserves the right to charge an inactivity fee, in case there was no trading activity detected in your account for at least 90 days. Swap/Rollover fees are charged when you keep a position open overnight. They can either be incurred or earned by a holder of a forex contract, meaning that the swap fees can be either positive or negative.

Along with the application, the applicant will have to provide documentation to verify their identity along with their proof of residence. 👉 Demo accounts for the MT4/MT5 will expire after 90 days of inactivity, so please make sure you use the platform periodically. Demo accounts on ThinkTrader currently do not expire but ThinkMarkets does reserve the right to close them. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Support is available via phone, email, and live chat and phone numbers are also available for the Australian, UK, Italian, South African, and Spanish offices.

Standard Account

71.89% of retail investor accounts lose money when trading CFDs with this provider. While conducting our evaluations of online forex brokers, we’ve collected over 360 data points that track the research-specific features that are most important to traders and investors. ThinkMarkets offers 4 of those 5 features, whereas the average forex broker offers 3 of those features. ThinkMarkets received an overall rating of 7/10 in the research category, contributing to its overall category ranking of #56 out of the 62 brokers in the BrokerNotes database. Those that supported ThinkMarkets commented on their wonderful experiences with ThinkMarkets’ demo account and 24/7 customer service.

When asked about the profit margins that can be achieved with ThinkMarkets, he is of the opinion that a trader’s trading strategy is what gets them high profits, not the broker they trade with. ThinkMarkets has adopted a ‘return to source’ policy, which means that if a deposit was made using a credit card, the client will receive the funds via credit card. However, if the withdrawal amount cannot be sent back to the source, your funds will be sent to you via Bank Wire.

Minimum Deposit

However, many countries in the global markets support copy trading and allow advanced traders to copy the trades that they wish to. However, all trading platforms are available on web, desktop, tablet and https://forexbroker-listing.com/ mobile devices. Sometimes, you might see a freezing impact on trading CFDs terminals. Although the issue within the trading CFDs platform is resolved quickly, it might still freeze for hours together.

The ten trading guides, split into three sections, deliver the best value and are an excellent starting point for new traders. The MT4 tips and tricks article offers new traders a quick overview of helpful shortcuts. Adding value is the introduction to technical analysis, complemented by the indicators and chart patterns section. ThinkMarkets also hosts live webinars for an interactive experience. The overall educational section provides more in-depth value than many competitors. ThinkZero – Average FX spread is 0.1 pips, $3.5 / £2.5 unit commission per side, $/£500 minimum deposit, and maximum trade size is 100 lots.

Its headquarters are in London, United Kingdom, and Melbourne, Australia. If ThinkMarkets folds, ThinkMarkets customers in certain locations will have insurance up to $/£1,000,000. The broker also provides access to more than 3,500 CFD shares and 352 ETFs to speculate on. You can start trading on the world’s biggest companies with a margin starting from 5% and the ability to go both long and short without actually owning the underlying physical stock. Using MetaTrader 5 gives you access to the full range of stocks, you can still use MT4 but only the major stocks for each market is available.

The broker is licensed in Australia, the United Kingdom, South Africa, and Seychelles. Australia’s ASIC and the UK’s FCA are deemed as two reputed global financial market regulators. The broker is regulated in multiple jurisdictions, including Australia, the United Kingdom, South Africa, and Seychelles, and has operations globally. We traded the popular instrument ineach markettoget the real spreads and placed a total of 15 trades. May I suggest in the first instance you contact our South Africa office who may well be able to support you directly – to get trading and promote our services.

Markets

They state on their website and in correspondence to me that they do not charge fees. Well, they just charged me a whopping 5.2% deposit fee when I did my last withdrawal. The will tell you that it is in the terms and conditions that they can do this – and it is, so be afraid. When queried, they refused to provide any reason for the charges, which makes it totally arbitrary. I traded a significant number of lots and made significant profits.

Also, the platform ensures great client satisfaction by providing high rates of conversions and retention rates. In addition, you get many referral campaigns with transparent terms and 24/7 support from the live account management team. All the clients can get direct access and permissions to create a dynamic and perfect trading environment using this Metatrader 4 API. It helps in connecting directly to liquidity pricing and competitive pricing. While leverage can help traders maximize their profits, trading CFDs and FX is a high-risk investing activity, and you should utilize leverage with prudence.

Ran through all anti-fraud checks with the banks for one and an half hours and they confirmed it was not them blocking the deposits. We are writing to inform you that your trading account are currently under review with ThinkMarkets Compliance Department. Todate, I haven’t received the money and the company seems not to care.

I’ve moved on from another broker who offers tighter spreads but very very poor fills. I didn’t have time to be complaining after every poor fill or chasing them up to process my withdrawal request so I shopped around. The award-winning mobile program offers thousands of markets, in-app chat support, plus a breadth of analysis tools and technical indicators. ThinkMarkets is a multi-regulated broker offering trading in forex and CFDs. Users can choose between MT4 and MT5, plus the broker’s ThinkTrader platform. This, along with low trading fees and over 3500 instruments makes the ThinkMarkets group an attractive proposition.

The ThinkMarkets demo account expires after 90 days of inactivity. Clients may e-mail, call, or use the live chat function, the most convenient form to reach a support representative. The FAQ section answers the most common questions, and ThinkMarkets explains its products and services well. Most traders will not require assistance, but if the need arises, swift access is available. The asset selection at ThinkMarkets is outstanding for most traders.