We suggest you check out this article, which clearly focuses on the ThinkMarkets Review.
You will discover a lot of items relating to it, such as its Online platforms, Commission, Leverage, Asset Classes, Account Types, Features & more
About ThinkMarkets & Accepted Countries
ThinkMarkets is a financial market platform for forex and CFD. Founded in 2010, ThinkMarkets has now grown to trade in over 35 currencies and ID as well. It has its head office in London and Australia.
Even though ThinkMarkets offers many attractive benefits it has failed to perform good enough. It has over 12 thousand instruments with the lowest trading fees.
It allows the traders to access a variety of analytical tools such as direct chart based trades, live exchange rate, and other interesting features such as economic calendar and financial announcements. Also, it is one of the most trustworthy and reputable broker company.
The ThinkMarkets company has its headquarters situated in Melbourne and in London. The company is present in many countries such as Australia, Germany, Saudi Arabia, United Kingdom, Thailand, Denmark, Norway, France, South Africa, Hong Kong, Singapore, Kuwait, United Arab Emirates, and many more.
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ThinkMarkets Trading Platforms
The ThinkMarkets Company has its software and trading platforms. The first being Thinktrader, this platform is a slick and intuitive trading platform.
On this platform, the traders can access over 200 free cloud-based notifications. They have 80 indicators, 14 different chart types, and around 50 drawing tools.
The trading platform also provides direct chart based trading and other basic risk management tools in the software. The second one is Meta trader 4. We can install it on a PC without any charges.
It allows the user to have one-click trades and over 100 indicators which make it fast in trade execution. It also hosts other fascinating additional features.
The last trading platform is Meta trader 5. It is the latest version that provides more advanced and additional features in the software.
It has some beneficial tools and analytics such as timeframes, technical indicators, and enhanced strategy testers with an inbuilt economic calendar.
ThinkMarkets Mobile App
The ThinkMarkets has a full-service mobile application that we can install on Android as well as IOS devices. The app provided a superior and enhanced experience while trading.
The ThinkMarkets app provides some quality features such as in-app support, technical indicators, and a variety of tools and analytics.
It has a five star rating by over 15 thousand traders using the app.
ThinkMarkets Commission or Brokerage or Fees
The ThinkMarkets charges 0 for normal spreadsheets and the average Fx pair starts from 0.5 pipes in EUR or USD.
In a ThinkMarkets account, you have to pay a 3.5 commission based on per side of 10,000.
While share trading on MT5 and other ThinkMarkets platforms, you have to pay an additional commission.
Traders would face no charges on swap rates. If an account is inactive for over a period of 6 months, you have to pay an additional inactivity fee.
ThinkMarkets Exposure or Leverage
The ThinkMarkets Company’s leverage policy may vary from type of trading as well as the geographical location.
The cryptocurrency can bring up to 1.5, the indices leveraging as 1:200, the commodities are at 1:200, and lastly, forex is to 1:500. In Europe, the leverage for traders living there is until 1:30.
Therefore it is advised to the traders that there should be a sufficient amount of money in the account and one must not trade until the margin.
Payment Methods provided by ThinkMarkets
One can find their trading accounts using various available payment methods such as Bank transfers.
The processing time is only 3 days and is acceptable in many countries. The Skrill takes up only 10 minutes to process the deposit.
Credit and debit cards can be used for instant processing of the amount into the account. Lastly, Neteller takes up to 10 minutes for processing time too.
One doesn’t require a minimum deposit in the ThinkMarkets’s standard account though there may be a deposit for its other account. The deposit and withdrawal method is preferred to be the same for security purposes.
It can take up to 24 hours if the KYC and file documentation is available, though it can also extend to around 7 days for a withdrawal to process.
One can take up to 100 euros or dollars at once. The withdrawals at ThinkMarkets accounts can be processed at no additional fee.
Investment in Asset Classes or Markets
An asset class division is a group of investments that can exhibit certain similar characteristics and are subject to the same rules and regulations.
Asset allocation is based on an individual’s goals and when one has clarity about their goals it makes the asset selection simple and easier.
When one has to look at goals and ask themselves what level of risk one afford on these goals. But risk can be a difficult concept for one’s that are not familiar with trading and investment.
The investment may also vary as per the rules and regulations in a country of a ThinkMarkets trade account. One’s financial investments are secured in the ThinkMarkets’s company’s trading account.
Virtual Trading Account or Demo Account in ThinkMarkets
The demo account is provided with over 25 thousand euros worth of practice money.
They use similar live accounts for price feeding and no notable difference is found between the price and the spread activities.
One can test out and improvise their strategies for trading on the demo versions of the three main trading platforms of ThinkMarkets.
The demo account is provided for an unlimited period of time. Though, it can get expired if the demo account is not used for more than a period of 3 months.
They also provide similar instruments and tools for trading. Though, the results of live accounts and demo account should not be compared as the results of live accounts face different outside factors.
ThinkMarkets Offers or Deals
The ThinkMarkets company offers the review traders a welcome bonus of over 250 euros. It also protects all its users with insurance worth 1 million euros for cases of defaults and insolvency.
The ThinkMarkets company provides customer support 24/5 for all their traders with the multilingual options and gives a FAQ section for minor queries.
The company follows all the standard encryption protocols and the meta trader platforms for trading are secured with one time password facility that adds an extra layer of security for their traders.
The ThinkMarkets company is a reputable broker service that offers suitable facilities to all the beginners in trading.
ThinkMarkets Regulation or Licensing
The ThinkMarkets company is licensed and regulated with the Australian Securities and Investment Commission as well as South Africa’s Financial service conduct authority.
The company is also FCA registered. They are supervised and governed by some reputable financial bodies.
These financial bodies monitor the behavior and movements taking place in the company. They also take necessary action when required.
They comply with all the rules and regulations of the international authorities and have no intention of compromising the standards of secured and licensed trading.
The ThinkMarkets company being well regulated by authorities makes it a safe and secure environment for trading.
They also protect and provide traders with their various reimbursement schemes. This is used to regain the investment of the trader.
The ThinkMarkets company has an insurance plan worth 1 million euros for the same.
- ThinkMarkets company offers a research-backed analysis of the financial markets and the investments from the world’s top analysts.
- The ThinkMarkets trading platform is available for installation on a number of devices including the Windows PC, IOS devices such as iPhones and iPads, Android devices, and online methods using a web browser.
- The ThinkMarkets company offers an easy to use trading platform with the tools required by both the new traders as well as the seasoned experts.
- ThinkMarkets traders benefit from using the ThinkMarkets trading platform in 3 different languages. ThinkMarkets has a pretty good library of educational resources. For beginners, there are various free video tutorials and a trading glossary. Tutorials aimed for the intermediate and the advanced traders are also available. And along with that, the trend PDFs, market news, and blogs from various industry experts can be found on the broker’s website. The number of tools is designed to help the traders to boost revenue and minimize their losses.
- Traders on ThinkMarkets can trade the CFDs on the equity indices, energies, soft commodities, and the alternative asset futures contracts, as well as numerous cash contracts. Trading the CFDs will enable the trader’s access to the global financial markets, all from one single account. The ThinkMarkets company is a broker website that allows the use of hedging, aggressive scalping, and the high speed automated trading. It offers an updated version of technological infrastructure and it provides superior customer service.
ThinkMarkets Account Types
ThinkMarkets has the following account types:
Standard account – The standard account needs a minimum deposit of $ 250. You can use this account on MT4 and MT5. You may not get an account manager for the standard account type.
Think zero – Think zero is like the pro version. It has a minimum deposit of $2,000. It comes with 24/5 Live Support, free VPS service, and account management services.
Islamic account – The Islamic account is for people who follow the religion and are with the Sharia law. By opening an Islamic account the account holder has the option to open a swap-free account.
Joint account – A joint account is the type of account in which two people can share a common account.
ThinkMarkets offers MetaTrader 4. MT4 is what various traders prefer because it is user friendly and beneficial in many other aspects. Furthermore, ThinkMarkets also provides MetaTrader 5 (MT5).
ThinkMarkets is a CFD and forex broker. It trades in gold, silver, cryptocurrencies, 35 currency pairs, etc. minimum trading size is 0.01 and the minimum amount for live trading is $1. This makes it extremely beginner-friendly for the field.
Moreover, it has many e deposit methods which include Bank Wire, VISA, MasterCard, BitPay, BPAY, FasaPay, Neteller, PayPal, Skrill.
On the other hand, the withdrawal method includes Bank Wire, VISA, MasterCard, Neteller, Skrill.
ThinkMarkets Cons or Drawbacks
ThinkMarkets does have over 10,000 users. However, it is far from being a successful trading platform.
A major reason being – the fact that the commission is more expensive than the industry average.
Another drawback of ThinkMarkets is the fact that Japan and the USA and Canada governments do not allow ThinkMarkets.
ThinkMarkets Trading Hours
The markets are open from Monday 00:03 (GMT+2) to Friday 23:55 (GMT+2).
ThinkMarkets Customer Care or Contact Details
ThinkMarkets claims to have a 24*6 customer care service. However, while going through the reviews of the users there have been mixed opinions.
While some claim that customer care and services are extremely supportive and help sort out their issues. Others have given extremely critical reviews.
There are even people claiming that ThinkMarkets is a scam that stole their money. However, at the same time, some people claim to have had an extremely good experience with the same.
Customer care contact for ThinkMarkets:
- Email: support@ThinkMarkets.com
- Phone: +44 203 514 2374, +61 3 9093 3400
ThinkMarkets Safety & Security
The following regulators, The Australian Securities & Investment Commission (ASIC), The Financial Conduct Authority (FCA), and The South African Financial Sector Conduct Authority (FSCA) authorize the portal.
As far as the personal information of clients is concerned ThinkMarkets uses SSL encryption on its PC and mobile platforms to protect the information.
It also urges its client to always go for SSL security signs while using a browser to operate ThinkMarkets. Therefore, ThinkMarkets is a safe platform to trade in.
ThinkMarkets Forex Trading – Conclusion or Verdict
ThinkMarkets is an average risk platform to trade in. While there are mixed reviews available, many reviews are actually not genuine, which is a common issue while going through reviews on the internet.
The Bermuda sector of ThinkMarkets is not secure therefore using the same is risky.
However, there have been positive reviews about the UK and Australia based ThinkMarkets. Even though it has good benefits it still fails to compete with major brokers.
Overall, ThinkMarkets provides diverse options for forex and CFD research however; it fails to provide just as diverse tools for the same.
ThinkMarkets is beneficial because it provides cryptocurrencies as well as a mobile app. However, when we consider the other aspects, it fails to impress.
This is a major reason why it is not doing so well as compared to its competitors. Its customer service received high criticism and safety and security are often under question.
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