We invite you to continue reading this review to learn more about the advantages and disadvantages of trading with ThinkMarkets. Each aspect has been thoroughly studied, and the results are presented in this review. You can refer to our broker evaluation methodology for more detailed information on how we conduct our reviews. Please note, availability may vary depending on local regulatory restrictions, and clients should confirm eligibility based on their specific country of residence before signing up. If you wish to further protect your accounts, it is possible to enable Two-Step Verification as well.
Other deposit techniques you thinkmarkets broker review can adopt are Neteller, Skrill, Rapid Transfer, and iDeal. Besides online banking, wire transfer is a possibility also, even though it takes about 4-7 days. The overall average of email support provided by ThinkMarkets was satisfactory. Withdrawal of cash is possible at any time from your ThinkMarkets account. It’s possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter used.
Withdrawal Methods
Swap rates will be charged on trades that have been opened before 4.59 pm and held open past this time. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, a price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitability by placing well-planned trades. Information segments covered by FX Wire Pro include Economic Commentary, Technical-level Reports, Currency and Commodities, Central Bank Bulletins, Energies and metals, together with Event-driven Flashes. As a multi-asset online brokerage, ThinkMarkets present a wide range of trading assets starting from Forex to Precious Metals, Commodities, Indices, Shares, and Cryptocurrencies. The Australian-based broker is established in 2010 and has since opened additional headquarters in London and regional offices throughout Asia-Pacific, Middle East, North Africa, Europe, and South America.
Most withdrawal methods are also free, though some options might incur a minimal charge depending on the payment service provider or the specific terms of the transaction. Additionally, ThinkMarkets applies an inactivity fee to accounts that have remained dormant for an extended period, which is a common practice in the industry to encourage active trading or account closure. This fee structure is designed to be transparent and fair, aligning with industry standards while supporting the financial well-being of active traders. ThinkMarkets is an exceptional broker that offers a user-friendly trading platform accessible on both desktop and mobile devices. With an extensive range of tradable assets, competitive spreads, and transparent fee structures, it caters to both novice and experienced traders.
Beginners will find the absence of commission charges on the standard account appealing, as this allows them to focus on their trading without worrying about additional costs. ThinkMarkets offers a vast array of trading options, with 4,000 tradeable symbols, well above the industry average of 3,623 tradeable symbols. It only offers a smaller range of 46 forex pairs, however, compared to the industry average of 66. When considering commissions and fees, ThinkMarkets is average, which might be a deciding factor for cost-sensitive traders. The average spread cost for the EUR/USD of 1.1 is slightly above the industry average of 1.08.
This is essential for forecasting potential market changes and planning one’s trading strategy. It is ideal for beginners, allowing them to learn how the markets work without complex market research. You select successful traders and automatically copy their strategies, learning from their experience and improving your skills.
Account base currency
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. I personally still use MT4 because it was the first platform that I became accustomed to. However, I think both MetaTrader platforms are ideal for trading online. Let’s take a quick look at some of the main differences between the platforms to see if you can decide which you would prefer. With the daily, weekly, and monthly reports, you can see your trade history at a glance, or you may choose a timeframe of your own.
Company details
To qualify for a free VPS, clients must trade a minimum amount of lots per calendar month. You can get a free VPS from other brokers including Blueberry Markets. The broker keeps client funds in segregated accounts with top-tier banks such as Barclays to ensure that they are not used for any other purposes such as operating costs.
It was in the year 2015 that Skrill has been acquired by Paysafe Group along with former competitor Neteller and prepaid payment provider paysafecard. Skrill (formerly Moneybookers) is a digital wallet provider established in 2001. It offers a range of payment options online and money transfer services. Whenever you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In such cases, you’re spending a spread, funding speed, or a commission.
This means that at all times, ThinkMarkets must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law. You simply need to finish a single-user profile survey to begin depositing money into your trading account. You’ll have to give an identity proof and proof of residency to deposit large sums.
ThinkMarkets’s Research and Trading Tools
- ThinkMarkets is an exceptional broker that offers a user-friendly trading platform accessible on both desktop and mobile devices.
- You may use this feature to build your faith in the system and yourself and your trading strategies.
- In the event you’re withdrawing money in different currencies from USD, a conversion fee is also applicable.
- Our receipt of such compensation shall not be construed as an endorsement or recommendation by FxScouts Group, nor shall it bias influence our reviews, analysis, and opinions.
- However, if you like to have more tools at your disposal, you won’t be disappointed.
Over the past 15 years, ThinkMarkets has become one of the leading online brokers available to the public. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. The Think Trader interface is mind blowing and the company are showing very positive overall prospect to lead in the industry for a very long time… They won’t process any take out requests and your account might finally be suspended like mine.
- Moreover, the segregation of client funds is a critical aspect of ThinkMarkets’ security strategy.
- ThinkMarkets offers its clients to trade Forex, Indices, Shares, Metals, Commodities, Cryptocurrencies, Equities, and Futures.
- However, this is more widespread in the example of Market Maker brokers who compete with customers on the stage.
- We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
- Furthermore, the low minimum deposit requirement makes this account highly accessible, lowering the barrier to entry for new traders who may be hesitant to commit large sums of capital initially.
- But at the same time, there are positive reviews as well – giving ThinkMarkets a rating of 3.29 on FoxPeaceArmy.
Trading Commissions
Alongside ThinkMarkets proprietary ThinkTrader platform, it also offers support for MT4 and MT5, the two most popular trading platforms in the Forex industry. This means that for UK residents with bank accounts denominated in GBP, conversion fees will not be applied for deposits and withdrawals. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made. Many users claimed to have lost thousands and millions due to technical errors on the platform and because of a lack of regulation, with multiple instances of accounts being frozen for no apparent reason. Withdrawal and funding your account are possible through bank wires, credit/debit cards, Skrill, Neteller, and BitPay. Deposits are processed from instant to three business days, while withdrawal requests are processed within 24 hours.
ThinkMarkets has over 3500 trading instruments to support all types of traders. These instruments are lively and suitable for both the new and experienced traders. All dealers can put aside all their worries when trading using ThinkMarkets. When engaging in online trading with platforms such as ThinkMarkets, it’s crucial to meticulously examine ThinkMarkets as your broker, as this choice can greatly influence your success. Great customer support is essential for success in the increasingly competitive brokerage environment.
Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
Building on the industry’s standard MT4, MetaTrader 5 is MetaQuotes’ latest platform aimed at traders looking for cutting-edge features. The MT5 interface has a similar style, but it includes many more chart periods, indicators, services, and other useful benefits. The platform includes 21 timeframes, 6 pending order types, hedging and netting options, and a multi-thread strategy tester for back testing your automated systems over historical tick data. In addition, the broker provides demo trading accounts which is a great way for you to practice trading online and familiarise yourself with the provided platforms. The broker provides zero spread accounts and Islamic trading accounts to facilitate traders from all backgrounds.