ThinkMarkets Trading Account – Review, Types, Process, Benefits, Charges & more
Last Updated Date: Sep 02, 2023If you want to know about the ThinkMarkets Trading account, then this article is for you. We will discuss everything about the demo account and trading account of ThinkMarkets here.
It will guide you as the first step of Trading in the forex market through ThinkMarkets.
The demo account is basically designed to help you learn trading skills without the fear of any monetary loss.
In this account, you will get virtual money and get to trade the same way as in the trading account, and the only difference is that there is no profit and no loss, just practical learning.
After understanding how the trading platform works, you can switch to a trading account and trade for real. Read on to know more.
ThinkMarkets Trading Account and Benefits
ThinkMarkets online account is a trader’s oriented financial marketing platform that offers various trading accounts with different features and beneficial trading tools.
There is not just one specific type of account you have to choose from.
You can switch to other accounts with your trading expertise to access the trading market with a wider view and exercise advanced trading platforms and tools to make maximum revenues.
The factors that vary in each of the ThinkMarkets trading accounts are the minimum opening balance, trading desk type, leverage, Commission, Spread, and more.
The ThinkMarkets Trading accounts are suitable for scalping and swing trading.
Since there is no initial deposit required while opening the account, it is suitable for the new traders to understand the market and get a comprehensive understanding before starting to trade.
Demo Account is meant for beginners, and they can switch to standard accounts or other accounts after getting a practical understanding of Trading.
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ThinkMarkets Trading Account Charges
| Trading Account Charges | ||
| Account Type | Standard Account | Think Zero Account |
| Initial Deposit | 0 | 0 |
| Spread | From 0.4 pips | From 0 pips |
| Commission | None | $3.5 per side |
| Leverage | 500;1 | 500;1 |
ThinkMarkets online account offers a minimum opening balance of £0.00 to open an account.
The traders can open the account with no initial deposit and can have a look around before starting to trade.
The trader-related charges incur depending upon the facilities and trading orders you place.
The commission may apply depending upon the account you hold.
In ThinkMarkets Zero Account, there are no spread charges applicable, and in Standard Account, it starts from 0.4 percentages in points (pips) and varies depending upon the change in the bid and ask price of the currency pair.
Different types of accounts have varied trading instruments for Trading, and the price may vary as per the volume of commodities your trade in and the terms and conditions of the account.
Types of ThinkMarkets Trading Account
| Types of Trading Account | |
| Trading Desk Type | ECN, NDD |
| Min Deposit | $500 |
| Maximum Leverage | Up to 1:500 |
| Mini Account | No |
| Premium Account | Yes |
| DEMO ACCOUNT | Yes |
| Islamic Account | Yes |
| Segregated Account | Yes |
| Managed Account | No |
| Institutional Account | No |
| Suitable for beginners | Yes |
| Suitable for professionals | No |
| Suitable for scalping | Yes |
| Suitable for daily trading | No |
| Suitable for Weekly trading | No |
| Suitable for swing trading | Yes |
ThinkMarkets is an ECN broker with no dealing desk execution.
It is a trading platform that provides different types of trading accounts, including Premium account, ThinkMarkets Zero Accounts, Demo Account, Islamic Account, and Segregated Account.
Each of the accounts offers different features for the different needs and preferences of the traders.
Standard Account
The standard or premium account allows the maximum trader leverage of 30:1 for retail traders and professional traders the leverage of 500:1 with no commission charges.
Think Zero Account
The account comes with minimum spread charges varying from 0.0 pip to 0.1 pip and has a commission of $3.5 per side.
It allows the traders with maximum leverage of 500:1.
Islamic Account
ThinkMarkets provides a Sharia-compliant Islamic account that comes with the option of a swap-free account.
It means the client can open and share the account with two or more individuals.
Segregated Account
ThinkMarkets offers a premium service by means of segregated accounts wherein the client’s fund is held in bank accounts segregated from the firm’s own funds with daily fund reconciliation in order to protect the client’s money.
Demo Account
Demo Account is meant for the new traders who need to learn the trading traits and get familiar with the market before investing their money.
The traders get virtual money to trade, which means there is no fear of any monetary loss.
ThinkMarkets Account Opening and Trading Process
This section includes the entire process from opening the account with ThinkMarkets to Setting it up and start trading.
Open ThinkMarkets Trading Account
When you browse the ThinkMarkets Website, the broker provides three types of account options – Standard Account, Think Zero Account, and Other accounts.
You can pick any as per your preference. The steps to open the trading account with ThinkMarkets are-
- Choose the preferred account and click on the “Create Account” option given at the end.
- Fill the form that appeared with the necessary details and click on “create a live account.”
- After submitting the form, complete the application.
- Verify your identity by providing the necessary documents and identity proofs.
- The broker will verify your documents and form to approve them. Once the account is approved, the broker will send you log-in credentials and a confirmation letter via email.
- Within 1 to 2 working days, your account will be activated, and you are ready to trade.
ThinkMarkets Trading Account Set up
- ThinkMarkets Trading account is accessible on all devices. You can opt for your preferred medium and download the app for free. There is no fee associated with downloading the app from any of the mediums.
- After downloading the app, open the app or the software.
- You will get a log-in option first to access the account.
- Enter the log-in credentials to open your personalized trading account.
- As there is no initial deposit required to access the trading account, you can look around the account and the various tools and features it offers.
- Try a demo account first to understand the funding options and use the advanced tools.
- Now you can examine the market, ascertain the investment strategies and choose desired trading tools.
- Use the buy and sell orders to place your trade orders.
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ThinkMarkets Trading Account – Features
| Trading Features | |
| Educational Services | Yes |
| Social Trading / Copy Trading | Yes |
| Trading Signals | Yes |
| Email Alerts | Yes |
| Guaranteed Stop Loss | No |
| Guaranteed Limit Orders | No |
| Guaranteed Fills / Liquidity | No |
| OCO Orders | Yes |
| Trailing SP/TP | No |
| Automated Trading | Yes |
| API Trading | Yes |
| VPS Services | No |
| Trading From Chart | No |
| Interest On Margin | No |
| Offers Hedging | Yes |
| Offers Promotions | Yes |
| One-Click Trading | Yes |
| Expert Advisors | Yes |
| Other Trading Features | No |
Here are various features provided by ThinkMarkets Online Trading –
Educational Services
The Trading Account provides free tutorials, educational materials, trading vocabulary, programs, market news, trend PDFs, economic calendar, and blogs of the top analysts of the market.
Social Trading / Copy Trading
It offers an advanced feature of social Trading that allows the trader to imitate the professional traders through the online social trading community and follow their technique of Trading.
Trading Signals
ThinkMarkets trading account provides their traders to create trading signals using a variety of measures.
Trading Signals indicate the buying or selling of a security based on a predetermined set of criteria.
Automated Trading
It provides Automated Trading to generate orders based on a predefined set of rules using a trading strategy.
API Trading
API allows the traders to connect the brokerage account with the screening software to share real-time prices.
Offers Hedging
The trading account offers the hedging feature that helps the traders use the financial instrument strategically to offset the risk of any unfavorable price fluctuations.
One-Click Trading
As the name suggests, you can open or close a trade on a ThinkMarkets trading account with just one click.
After deciding upon the trade size, you can select the buy or sell price and process it directly.
These are the exclusive features ThinkMarkets offers to their traders to make the maximum use of while trading and boost their profits manifolds.
Apart from these features, Expert Advisors, Email Alerts, OCO Orders, and Offers Promotions are other significant features the ThinkMarkets offer.
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ThinkMarkets Trading Account – Conclusion
In this article, we have discussed everything about the ThinkMarkets trading account, including its setup process, features, charges, and more.
With all the research and information shared, it can be concluded that the trading account that ThinkMarkets offer is suitable for both new traders and veteran traders because of the low investment or no initial deposit aspect while opening the trading account.
The various accounts offer a wide range of advanced tools and features to help the traders employ best trading practices and earn maximum gains.
ThinkMarkets Online Trading – FAQs
Here is the list of few FAQs related to the ThinkMarkets Online Trading:
Do ThinkMarkets provide Online Trading?
Yes, ThinkMarkets provides online Trading via its live trading account.
With a live trading account, you can take benefit of the highs and lows by trading over tradable assets.
In a live account, only the active traders can avail of the live prices.
Apart from online Trading, ThinkMarkets also provides other trading platforms such as web-based platforms, applications, or trading terminals.
What are the Commission Charges in ThinkMarkets?
There are no commission charges in the standard trading account. In the ThinkZero Account, the commission charges are $3.5 per side.
The commission charges vary depending upon the type of accounts and the size of the trade.
Do ThinkMarkets provide Demo trading account Trading?
Yes, ThinkMarkets provides a Demo trading account to help the traders understand the functionality of the account and use its different tools and features while Trading.
It is specially meant for the traders who are new into the trading market.
The demo account users get virtual money worth a sum of $ 25,000 that they can use for Trading without the fear of monetary loss.
It is a great platform for beginners to get practical learning of Trading.
Is Trading Free at ThinkMarkets?
No, Trading is not free at ThinkMarkets.
There are spread charges, commission charges, minimum opening balance, charges of using various instruments, and more to use a trading account.
However, commission charges and initial deposit charges are not there in some of the trading accounts.
The demo account is absolutely free to use and does not include any kind of charges to use it.
What markets do ThinkMarkets trading accounts provide for Trading?
ThinkMarkets trading account provides hundred of markets to trade, including over 38 major, minor and exotic pairs of Forex, a wide range of cryptocurrencies, 15 global indices, metals ( gold, silver, platinum, and copper), Commodities (gas, oil, agriculture), CFDs on shares.
Do ThinkMarkets provide Stock Trading?
Yes, with ThinkMarkets trading accounts, the new traders can also opt for stock trading.
If you are willing to trade in stock, you can get this service for an added charge. Brokerage might also be charged in such cases.
What is Spread at ThinkMarkets?
Generally, the spread is the difference between the bid and the ask prices or rates. In ThinkMarkets, the spread varies from account to account.
For the standard account, the spread is 0.4 pips, and in the ThinkZero Account, it varies from 0.0 pips to 0.1 pips.
Is ThinkMarkets safe for Trading?
ThinkMarkets is an ASIC-regulated broker that has its headquarters in Melbourne, Chicago, and London. It was founded in 2010 and adhered to the regulations of ASIC.
It is a safe account that offers various advanced features and tools to its traders and support for MT4, MT5, and ThinkTrader platforms.
Zero accounts are available on which ThinkMarkets platforms?
You can get access to the ThinkZero account on MetaTrader 4 and MetaTrader 5 platforms.
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