ThinkMarkets Review - deposit, withdrawal, regulation

ThinkMarkets Review - Deposit, Withdrawal, Regulation, Trading Conditions
3.3 5 RATING
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ThinkMarkets execution and slippage

0.52 pips

  

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be. 

 

Our slippage data about ThinkMarkets is sampled by 10 of the most popular forex trading strategies in Zulutrade.com

1.18 pips

ThinkMarkets slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

0.10 pips

ThinkMarkets slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
0.72 pips

ThinkMarkets slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
0.44 pips

ThinkMarkets slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
0.64 pips

ThinkMarkets slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
0.40 pips

ThinkMarkets slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
0.42 pips

ThinkMarkets slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.00 pips

ThinkMarkets slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
0.14 pips

ThinkMarkets slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
1.15 pips

ThinkMarkets slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage   Spreads
Standard  $250 0.01 1:500  from 0.8 pips on EUR/USD
Pro $2000 0.01 1:500 from 0.0 pips on EUR/USD + commission $3 per standard lot per side
Premium $25 000 0.1  1:500 from 0.0 pips on EUR/USD + negotiable commission

 

ThinkMarkets offers three account types – Standard, Pro & Premium, all of them accessible through the popular MetaTrader 4 platform and offering leverage up to 1:500. The Standard account is commission-free, while the other to offer tighter spreads and involve a commission. The Premium account is targeted at institutional clients.


This broker allows all types of trading styles (hedging, aggressive scalping, high speed trading) on a low latency platform.


Clients who are UK residents, may also opt for a spreadbetting account. The minimum initial deposit is £50, minimum contract size £1/point, leverage up to 200:1, spread from 0.8 points and no commission fees apply.


The Company. Security of Funds


ThinkMarkets is a FX and CFD brokerage serving both retail and institutional clients. Since being founded in 2010 in New Zealand, the broker now has international presence with Clients in over 75 countries.


ThinkMarkets is a registered business name of TF Global Markets (Aust) Pty Ltd., authorised and regulated by the Australian Securities & Investments Commission (ASIC).


In order to serve EU-based clients, the broker has also set up a subsidiary in the United Kingdom - TF Global Markets (UK) Ltd. It is duly authorised and regulated by the Financial Conduct Authority (FCA). 


London and Sydney are famous forex hubs, providing favorable conditions to both brokers and traders: the FIFO rule is not applicable, and there is no leverage cap.


The Australian and UK watchdog apply certain rules and requirements to license holders, the most important being the minimum capital requirements and clients’ money rule. Both ASIC and FCA-regulated brokers must keep client funds in segregated accounts, separated from the companies operating funds. In order to prove their good financial standing, UK-based brokerages must hold net tangible assets amounting to at least €730 000 and Australian ones - at least $ 1 million.


What is more, clients of UK brokers are covered the Financial Services Compensation Scheme (FSCS) coverage. In the event of a company insolvency, FSCS is able pay compensation up to a maximum of £50,000 per person per regulated entity. Besides, ThinkMarkets has launched an extra £1m insurance protection per client, underwritten by QBE Underwriting Limited and other participating syndicates at Lloyd’s of London.


Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent.


Trading Conditions


Minimum Initial Deposit

The minimum deposit for opening a trading account with ThinkMarkets is $250, which is average. In comparison, AxiTrader, which also holds FCA and ASIC licenses, requires $200.


Average spreads & Commissions
ThinkMarkets offers floating spreads, which vary by account category. The ones on the Standard account start at 0.8 pips on EUR/USD, which is on the upper end of average, while the ones on the Pro & Prime account are dramatically lower - from 0.0 pips on EUR/USD. The Pro account, however, involves a commission of $6 round turn, so trading costs amount to at least 0.6 pips for this pair, commission included, which is quite competitive pricing, as average costs per lot are below 1 pip.


In comparison, leading global AxiTrader provides variable spreads from 1.0 pips on its commission-free accounts, and ECN account holders use spreads starting from 0.0 pip on EUR/USD, plus a commission of $7 round turn. You may look up and compare real-time spreads of 15 leading brokers here


Leverage
The maximum leverage rates at ThinkMarkets are up to 1:500. Such leverage is considered comparatively high, although many other FCA-and ASIC-regulated brokers offer similar or higher leverage rates. For instance, AxiTrader provides leverage up to 1:400, and XM - up to 1:888. You may check out a list of forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


Please, be advised that investing in over-the-counter derivatives with high leverage involves significant risks. Higher leverage levels may multiply your earnings on a small deposit, but they may also lead to losses, exceeding initial investments.


Trading Platforms


Like most forex brokers, ThinkMarkets supports the popular MetaTrader4 (MT4) platform. It is preferred by most traders, because it is equipped with user-friendly interface, advanced charting package, a number of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Besides, traders can host their trading strategies on a VPS, available for free to anyone who deposits $2000 or more.


ThinkMarkets has partnered with MyFXBook to offer its clients refined social trading with their exclusive AutoTrade platform. Traders can copy trades directly into their ThinkMarkets MetaTrader 4 account with no hassle.


What is more, ThinkMarkets utilizes some advanced trading tools, such as Autochartist, Economic calendar and Reuters news feed.


Autochartist is an advanced tool for the automatic identification of trade opportunities in the form of Chart patterns, Fibonacci patterns, and Key Levels. Autochartist’s proprietary technology allows their search engines to monitor thousands of financial instruments 24 hours per day uncovering trade opportunities as they occur.

 

Yet another advantage of this broker is that it has placed the Equinox trading servers at the same location as its top tier 1 liquidity providers, which allows its clients to achieve extremely fast execution.


Promotions & Training

Lucrative promotions and bonuses are something else that you can expect to see regularly from ThinkMarkets.

At the time of writing this review, the broker offers Refer-a-Friend bonus of $50, and the referred person who opens a live account with ThinkMarkets, is also entitled to $50.


What's more, ThinkMarkets offers access to FX University: a sophisticated online forex school suitable for absolute beginners, as well as for advanced traders. The best part is that you don't need to worry about tuition fees, as FX University is completely free of charge. Free webinars on different topics are available on a weekly basis.


Methods of Payment


Clients of ThinkMarkets can make deposits to and withdrawals from their accounts via credit/debit cards, (Visa, MasterCard, Maestro), bank wire, Skrill, and Neteller. There are additional payment methods available in different countries.


ThinkMarkets enables clients to open accounts and deposit funds in USD, EUR, GBP, CHF and AUD.


Conclusion


ThinkMarkets is a well-regulated award-winning broker, offering trading in various currency pairs and CFDs on the renown MT4 platform, pretty attractive conditions, advanced trading options and fast execution speed. In a nutshell, here are the advantages and disadvantages with regards to this broker:

 

Pros Cons
Strong regulation  No choice of trading platforms, no web-based one
MT4 available, fast execution speed  
Competitive spreads  
High leverage levels  
Attractive promotions & extensive educational resources   

 

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Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for ThinkMarkets Add review

Excellent

Excellent service, execution, EA hosting.......
I tried a lot different brokers, now I have got my favorite.
Thanks to the ThinkForex Team.

Jo 01/15/2014

Excelent online support, free VPS, competitive spread ! Great broker

I opened my live SpeedTrader account with ThinkForex for these reasons:

1) they offer a very good plattform (SpeedTrader);
2) they offer for free a wonderfull and powerfull VPS;
3) their support is extremely efficient and speed (if you talk by chat with Neha you can fix all your doubts and questions);
4) they offer many options for the base currency and the ways for fund/withdraw are very clear explained;
5) they offer a very attractive Introducing Broker service;

After 10 days of live trading, I observed very competitive spreads on major currencies during all the day.

I can honestly suggest to everyone to work with ThinkForex and be confident in their professionality.

Good trading
Corrado
Italy

corrado 11/07/2012

Best broker for manual scalping

I’ve been trading with ThinkForex for 6 months already, great broker! I started with their MT4 platform, then moved to Speed Trader. Direct chart trading, very good fills on EURUSD on Speedtrader.

I trade on the Pro account feed and almost instantly I get filled on a single order of 30 to 40 lots with spreads as small as 0,3. I have almost doubled my balance with scalping – I recommend the broker to manual scalpers and EA users who trade large lots per order.

Withdrawals are processed quickly, no issues there.

The only thing I don’t like is that they don’t have customer support in Polish – I would prefer to communicate in my native language.

mariusz 06/22/2012

I like Think forex one-click trading tool

Excellent platform for fast manual trading. I like the one-click dealing tool.

Jenny Wang 05/31/2012

Think forex offers great spreads and no slippage

I’ve been trading with Think Forex for a few months and I think they’re one of the best brokers I’ve worked with until now. Here are my overall impressions of the broker:

No problems with small to large lot sizes execution

Possibility for implementing different strategies including scalping to poisiton trades

Very good spreads

The same commission charges for basic and standard accounts

Almost no slippages and requites

Issuing margin call warnings before force liquidation (IMO, this is a great feature)

I haven’t tried their VPS yet but I plan to do it so I will report back after that.

All in all, my opinion is positive and I’ll keep trading with this broker.

Thomas 05/11/2012

My experience with Think forex

Quick deposits and withdrawal, excellent spread, no slippage. Also offer mobile platform that has all the features of the regular one, I can do everything on my mobile – very impressed!

Jonnas 04/29/2012

Excellent spread and execution, fast withdrawals

I’ve been trading with this broker for a few months. IMO they have a good spread and the execution is more than decent. I have only made one withdrawal and I got my money on the next day – I think this is pretty fast for a broker.

They offer a lot of video tutorials for new traders and I find this very useful, and the customer support people are always helpful. I think I’ll be recommending it to my friends.

steve 04/09/2012

ThinkForex service

Whatever your problem, they will work towards solving it, they will call you to give instructions and will stick with you until you have everything working.

Serious and courteous. Nice people to work with.


Felix

Felix Hipolito 04/02/2012

I like ThinkForex speads, EA VPS and execution

Think forex is one of the best forex brokers I have ever been with!! I have one auto traded account and one manual traded account with this broker.

Here is the good:

- Support is always ready to help.
- Execution is very good execution. never had issue with order getting filled and I trade multiple lots during Asian session and I always get my orders filled.
- Slippage is acceptable. I enjoy positive slippage sometimes.
- EA hosting service is among the best I have tried

The bad:

- No paypal payments, however they told me they will launch PayPal soon.

FxPal 08/22/2011

ThinkForex: Fast execution and tight spreads during Tokyo session

I am Japanse working in US and I've been live trading with Think Forex for almost two month now.

Service is excellent, execution is very fast and spreads on the yen pairs are very tight during the Tokyo forex session. I was told that the reason their pricing and fills are so good is beacuse their trading servers are co-located next to their banks servers. Have not heard of many forex brokers that have done this so i'm very impressed.

Recommend Think Forex to everyone that is using high speed scalpers, and looking for low spreads on yen.

Kokomo 08/03/2011

Think Forex offer the best excecution I have ever seen

I have used about 5 different forex brokers in my trading career and so far Think Forex have the best excecution I have ever seen.

I recommend them to anyone looking for a pure ecn/stp forex trading broker.

I almost forgot - you can put stop loss and take profit orders as close to market as you want. That is absolutely essential for successful scalping!

Bravo 07/07/2011

ThinkForex EUR/CHF spreads are the lowest I've seen

Hats off to the ThinkForex guys, possibly the best broker team I have seen yet.

Think Forex MT4 servers are very vast and the quotes on the platform update before any other forex broker. Besides the EUR/CHF spreads are the lowest I have seen yet.

My job keeps me on the road so I need to be able to log in from anywhere to my MT4. So I got free VPS from Think Forex. They set it up for me and expained me everything about it. I like their customer service, guys are frienly and professional.

I run a scalping EA on eur/chf and with ThinkForex I enjoy ZERO SLIPPAGE, yea thats right, its hard to beleive but their execution and price feed is great.

Highly recommended for anyone running scalping EAs.

UsaG 07/07/2011