As MarketsWorld ceased Binary trading in October 2018, you will probably be wondering if ThinkMarkets is the best choice Forex trading broker for you or not? Well, in this ThinkMarkets review, we will be looking at their business operation, fee structure, features, complaints, and customer reviews.
ThinkMarkets was established in 2010 and has been in business for nearly two decades now.
ThinkMarkets Vs MarketsWorld
We would like to point out here that for the purpose of review updates, this article is more of ThinkMarkets review than MarketsWorld. This is because MarketsWorld has since closed its binary options services since October 16th, 2018. This great article here has an insightful review of MarketsWorld.
Disclaimer:
All data in this ThinkMarkets review is meant for information and guide purposes only and therefore should not be construed as financial advice. The mentioned of MarketWorld in this review has no direct relation or correlation with ThinkMarkets and this ThinMarket review. This is just a reference as a result of finding during the research for this review.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.39% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to
take the high risk of losing your money.
ThinkMarkets was established in 2010. Today, ThinkMarkets is regulated in Australia – TF Global Markets Pty, in the UK under the name TF GlobalMarkets Limited, and in Bermuda under the name – Think Capital Limited.
ThinkMarkets offers forex and CFDs traders access to 38 forex pairs and nearly 200 CFDs, which includes nine cryptocurrency CFDs.
ThinkMarkets is a forex broker. They offer the MT4 and MT4 Mobile trading currency platforms. ThinkMarkets.com trading ways, offers over 25 currency pairs, cryptocurrencies, gold, silver, indices, commodities, and CFDs for your personal investment and trading options.
ThinkMarkets
Features
- Razor-thin spread from 0 pins.
- Only £2,50 Per lot per side (Only on pro account as this review found out).
- £1 million insurance protection.
- The Most Popular Forex Trading Platform (MT4) + Trade Interceptor.
- High leverage Of 500:1.
- Virtual trading (Demo).
- Proprietory platform.
- Web platform.
- Social trading or copy trading.
- Meta Trader 4 (MT4)
- A state-of-art trading infrastructure.
- ThinkMarkets server is hosted in Equinix’s LD5 and HK4 data centers. The world’s largest
a trading ecosystem with a record uptime of 99.99%. - Average spread at 0.1 pips.
- 3.5 commission per side (100,000).
- A wide range of markets.
- Mobile app interceptor.
- Regulated broker – AISC and FCA.
- Free trading tools for MT4.
- Live chat, email and phone number for customer service and help support available on the website.
ThinkMarket Trade Platforms
With the new latest upgrade of MT5, the EA compatibility issue is now resolved and you can easily download and trade on the go with your mobile.
- MT5
- MT4
- MT4 web
- MT5 web
- MT4 Mac
- MT4 Mobile
- Trade interceptor
- TI Mobile
ThinkMarkets Market To Trade
- Forex
- Shares
- Indices
- Cryptocurrency
- Metals
- Commodities
- Scalping? Yes
ThinkMarkets Fees And Account Types
There are three significant types of trading account found in ThinkMarket. These accounts are designed to suit all types of business and budgets.
The First is a standard account that is a spread only account. This is the account usually taken up by small new retail forex traders. This account has limited features but with a minimum deposit of £500. (Used to be £250)
The second type is the most popular pro account called the ThinkZero ECN broker account with direct market access available. This account is for high volume traders packed with full features and potentiality to maximize profit. It starts with a £2000 minimum deposit.
The other account is the newly added feature account as a result of the ThinkMarket upgrade. It is called the Islamic Account. ThinkMarkets provides Islamic clients, with this account in order to comply with
Sharia law, and the option to open a swap-free account. You will have to put in a request through their website in order if you want to open one.
ThinkMarket Standard Account Trading Services
Platform:
MT4
24/7
Live Support? Yes
Free
VPS services? Yes
AutoChatist?
No
Account
Manager? No
ThinkMarket ThinkZero Pro-Account Trading Services
Platform: MT4
24/7 Live support? Yes
Free VPS services? Yes
AutoChatist? Yess
Account manager? Yes
Markets Islamic Account Trading Services
ThinkMarkets also provides its clients with the option to open accounts shared by two or more
individuals.
ThinkMarkets Regulated
ThinkMarkets is authorized and regulated by the Financial Conduct Authority (FCA) and provides regular financial reports to the FCA in addition to being audited annually. FCA Number: 629628.
The Australian Securities and Investment Commission (ASIC) and are the holder of Australian Financial Services Licence, number 424700.
Also, ThinkMarkets has purchased Excess of FSCS Insurance – an innovative product that provides investors greater protection and compensation rights. This individually covers funds up to £1,000,000 GBP as standard.
ThinkMarkets Complaints, And Customer Reviews
This review has also looked into what people are actually saying about the services provided by ThinkMarkets by sing various top ratings and ranking business compliances online.
The following screenshot shows you what complaints or reviews are made and how ThinkMarkets resolved these complaints.
This is why it is important to always, first of all, do your own due diligence before investing with any trading company.
Trustpilot
Although Trustpilot has been known to be riddled with a lot of promoted reviews or truth of some sort, one cannot but wonder what people are saying about a company you are about to go into business with. Even if these reviews are true or not, it is still worth your time looking into.
Personally, the reviewer believes that Trustpilot is still a great platform where customers can go and vent there anger or satisfaction about any product or services they have used or purchased.
Below are some of the customer intakes I was able to find.
With 3.5 star positive ratings on TrustPilot, this review is one of the positive reviews we found on the rating website. This is one happy trader who is very glad to express his satisfaction with the service received from ThinkMarkets.
Below is how the ThinkMarkets support team responded to the above complaints on Trustpilot.
This is one very unhappy customer who obviously lost money as a result of giving his account manage full access to his trading account. The account manager made a bad trade that resulted in him losing his
profits.
But you can also see that ThinkMarket stepped in to resolve this situation by pointing out that you should never share your login details to a third party. Go here to read more reviews on this particular complaints site
Unbiased Forex Broker Experts
On this Forex complaints site, we noticed quite a number of both happy and unhappy customers. But we found out that most of these unhappy customers are blaming ThinkMarkets on their own individual failed to trade strategies. Some of them higher an incompetent account manager and lost money as a result.
Trading CFDs and any other instruments out there carries a risk of financial loses. ThinkMarket also does make it clear that in any trading way or circumstances, you should never divulge your login and account details to any third party.
Below is one happy customer.
The below screenshot is of an unhappy customer who complained about the customer service received.
And you can also see how ThinkMarket jumped in to resolve the issue immediately with the customer. You can learn more about this report here
From our further finding, we discovered that most of these complaints probably came from those who have not taken the proper time to learn how to trade. The world’s market of Forex Exchange trading is a highly volatile market that comes with huge risk-taking too. A successful traders’ way depends on how much knowledge you have in Forex trading.
The good news here is that ThinkMarket also offers excellent free training on how to trade the Forex.
Learn How To Trade With ThinkMarkets Free Forex Training Program
Click the image above to create your free account and get the right knowledge you needed before venturing into Forex trading.
List Of Things To Watch Out When Choosing A Forex Broker
These lists will surely help you avoid Forex trader scam when engaging with any Forex broker for your daily trades.
- Check for regulation and trust.
- Look into company policies and trading history.
- Customer reviews and complaints of various ranking sites.
- Range of markets offered.
- Forex trading tools and platform provided.
- Forex global market research and analysis.
- Withdrawal methods, commissions, hidden or any spike fees.
- Order types and executions.
- Education. Paid or free.
- Overall trading cost.
- And last but not least; Customer service.
In terms of ThinkMarkets, they have good customer service that offers quick respond. And they also have a live chat on their website that allows you to talk to real people on the other end.
ThinkMarket Review – Conclusion
Minimum Trade Size:0.01Maximum
Leverage:500:1
Minimum to Open Live:$1
Established:2010
Address: TF Global Markets, 2 Copthall Avenue, London, EC2R 7DA, United KingdomContact:support@thinkmarkets.com, +44 203 514 2374Regional offices:
Regulators: ASIC #424700, FCA #629628
Prohibited countries: Canada, Korea, and the US
Trading platforms: MT4, MT5, and Trade Interceptor
Web Trading: Yes
Mobile Trading: Yes
ECN: No Currencies:(35+)Cryptocurrencies:(5+) Bitcoin, EthereumCFD:(40+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities.
EAs/Robots: Yes
Scalping: Yes
Free Forex Training? Yes.
MAM: Yes
PAMM: Yes
Our Verdict: Legit Forex broker and definitely not a scam.
Our ratings: 97% Out of 100%
ThinkMarket Recommended?
Well, we have provided you with all the information that will enable you to make an informed decision. The rest is up to you. As for a recommendation, yes is it a legit Forex broker to start trading with.
You have to know how to trade or what you are doing to be able to win trades. If you choose to higher an account manager, it should entirely be your decision.
Overall, you should be looking for what Forex trading broker has to offer you as a trader. What features the best suit your business need and budget.
In the case of ThinkMarkets, we believe they have got a lot to offer that is more than various other Forex factory alternatives out there. When you look at these features for example below:
- Razor-thin spread from 0 pins. Only £2,50 Per lot per side (Only on pro account as this review found out).
- £1 million insurance protection.
- The Most Popular Forex Trading Platform (MT4), and (MT5) + Trade Interceptor.
- High leverage Of 500:1.
- Virtual trading (Demo).
- Proprietory platform.
- Web platform.
- Social trading or copy trading.
- Meta Trader 4 (MT4)
- A state-of-art trading infrastructure.
- ThinkMarkets server is hosted in Equinix’s LD5 and HK4 data centers. The world’s largest trading ecosystem with a record uptime of 99.99%.
Average spread at 0.1 pips.
- A 3.5 commission per side (100,000).
- A wide range of markets.
- Mobile app interceptor.
- Regulated broker – AISC and FCA.
- And a Free trading tools for MT4
You may now decide if these features carry the tools that best describe what you need to succeed as a trader or not. One thing is for sure. There are not many Forex brokers that are offering this can of features in the market right now.
ThinkMarket has been in business for nearly two decades. That means a solid background, good reputation, and business continuity.
You can click the green button below to find out more information about ThinkMarkets. If you have any questions or comment please do so in the box provided below. Also please help us share this review to your network so that others will be enlightened.
