ThinkMarkets Review

ThinkMarkets is a multi-regulated broker offering trading in forex and CFDs. Users can choose between MT4 and MT5, plus the broker’s ThinkTrader platform. This, along with low trading fees and over 1500 instruments makes the ThinkMarkets group an attractive proposition.

Account Types

ThinkMarkets has two popular retail accounts:

• Standard account – Average FX spread is 1.2 pips, no commission or minimum deposit, and maximum trade size is 50 lots. The Standard account has AutoChartist available via MT4 and MT5 but no access to an account manager.
• ThinkZero – Average FX spread is 0.1 pips, $3.5 / £2.5 unit commission per side, $/£500 minimum deposit, and maximum trade size is 100 lots. ThinkZero is best suited to traders looking for zero spreads and large position sizes.

Islamic trading accounts and joint accounts are also available.

Note the broker does not use an ECN model and is primarily a market maker.

Markets

ThinkMarkets has a 1500+ list of tradable instruments, covering:

• Forex – 40 majors, minors, and exotics
• Stocks – 1500+ shares available
• Indices – 15+ global indices
• Commodities – Oil, gas, & agricultural
• Precious metals – Gold, silver, platinum & copper
• Cryptocurrencies – Bitcoin, Ethereum, Dash & more
  (As per regulation Crypto CFDs are not offered to retail traders in the UK).

Spread betting is also available for UK clients only.

Spreads & Commissions

ThinkMarkets scored highly in terms of trading fees. Spreads are variable and start from zero pips while average spreads on the Thinkzero account, on major FX pairs, such as the EUR/USD and GBP/USD, are 0 pips and 0.4-0.5 pips respectively.

With the ThinkZero spread account, there is a $3.5 commission per side of 100,000 (£2.5 units per side in the UK). This commission applies to FX and Metals only and ThinkZero accounts are available on MetaTrader 4 and MetaTrader 5 platforms.

ThinkMarkets reserve the right to charge an inactivity fee.

Traders will be pleased to see there are no swap rates.

Leverage

The maximum leverage available depends upon the type of account (retail /professional) and the ThinkMarkets entity.

• Forex – leverage up to 1:500
• Indices – leverage up to 1:200
• Commodities – leverage up to 1:200
• Cryptocurrency – leverage up to 1:10

To avoid a margin call, make sure you have enough capital in your account.

Note, due to regulations, the maximum leverage available to traders from Europe, the UK and Australia is 1:30.

Payment Methods

Funding your account is available via several deposit methods (which may vary depending on the client’s country of residence and the ThinkMarkets entity):

• Bank transfer – available currencies: AUD, GBP, EUR, CHF, USD. Estimated processing time: 1 – 3 business days
• Credit & debit card – available currencies: AUD, GBP, EUR, CHF, USD. Estimated processing time: instant
• Skrill – available currencies: AUD, GBP, EUR, CHF, USD. Estimated processing time: up to 10 minutes
• Neteller – available currencies: AUD, GBP, USD, JPY, EUR. Estimated processing time: up to 10 minutes
• Bitpay – Available currencies; Bitcoin, Ethereum and Bitcoin Cash. Estimated processing time: up to 10 minutes

There is no minimum deposit with the Standard account, but the ThinkZero account requires a minimum deposit of $/£500.

For security reasons, the withdrawal and deposit method must be the same. Withdrawals are normally processed within 24 hours but may take up to seven working days. For withdrawals via bank transfer, the minimum withdrawal amount is $/£100. There are no deposit or withdrawal fees at ThinkMarkets.

1:500

ThinkMarkets is a multi-regulated broker offering trading in forex and CFDs. Users can choose between MT4 and MT5, plus the broker’s ThinkTrader platform. This, along with low trading fees and over 1500 instruments makes the ThinkMarkets group an attractive proposition.

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