ThinkMarkets – In-depth Review

Forex Broker Reviews

ThinkMarkets, previously known as ThinkForex, is an award-winning forex broker fully authorised and regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

The broker was founded in 2010, and since its humble beginnings it has been dedicated to delivering high quality execution and service to an ever growing range of traders.

Trading Accounts

There are three types of trading accounts at ThinkMarkets – Standard Account, Pro Account, and VIP account.

Minimum operating balance for the Standard account is $250, for Pro Account $2,000, whereas holders of the VIP account need to deposit $25,000 in order to start trading.

The available payment options include Skrill, Neteller, Credit Card, Debit Card, Bank Wire, and PayPal.

Trading Platforms

There are two types of trading platforms at ThinkMarkets – MT4 and Trade Interceptor.

Trade Interceptor, a mobile app which was acquired by ThinkMarkets in May 2017, now serves as the core ThinkMarkets mobile offering. The mobile trading platform has been incorporated into the firm’s core infrastructure.

Trade Interceptor delivers live trading functionality on a wide range of markets including indices, commodities, forex, and metals via the ThinkMarkets data feed.

Those traders who choose MT4 enjoy benefits from institutional-quality apps, indicators and tools. It is available on web, mobile and Mac.

Spreads and commissions

Spreads vary according to the type of assets traded and can be as low as 0.2 pips.

Considering commissions, Standard account holders pay no commission, while Pro account holders are charged 3 units per side. As for VIP account holders, they pay a special variable rate.

Leverage goes up to 400:1.

Customer support

Customer support is one of the main qualities that traders should seek in their brokers, and this is the field where ThinkMarkets will not disappoint you.

Bilingual customer service representatives can be accessed 24X6 via live chat, email or direct phone. In addition, every trader gets a dedicated account manager, and the library of instructive materials – training guides, webinars, and videos.

*US traders not allowed

*the only FCA regulated forex broker which accepts PayPal as a deposit or withdrawal option

 

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