ThinkMarkets Review 2021

In this new review we’ll show you:

  • How to ensure your trading funds are safe 
  • Fees and Features compared with other brokers
  • Leverage and regulation offered 
  • Customer reviews from trusted sources such as Trustpilot, Google Play and Apple Store
 

Plus lots more

3.49/5 from 5,480 Thinkmarkets Customer Reviews

Let’s get started with the Thinkmarkets Review 2021

Before starting, we would just like to let you know that this broker is eligible for our free insurance  that will help protect your deposit in case of broker failure. 

 

Make sure you select FCA regulation upon signup through our link below to receive up to £85,000 deposit protection provided by FSCS.

Overview

ThinkMarkets is a well renowned brokerage founded in 2010 providing a wide range of markets including forex, CFDs, cryptocurrencies, commodities, indices, and futures. 



It is a privately held firm with over 50 global employees. ThinkMarkets is regulated by the Australian Securities & Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), and South Africa’s Financial Services Conduct Authority (FSCA). 



Users have access to the ThinkTrader platform as well as access to Thinkmarkets MT4 and MT5 through Metatrader. ThinkMarkets offers low trading fees and access to over 1000 trading instruments.  ThinkMarkets has over 550,000 users in 75 countries. 

 

Trading is delivered mainly through a standard account type. It also offers a demo account as well as an Islamic trading account.

User reviews

Before depositing your hard-earned cash, it’s always a good idea to have a look around and see user reviews from other traders. We always suggest that you don’t just rely on a single rating on any review site as they don’t give a proper representation of the company on the whole. 

Here is a sample of ThinkMarkets user reviews which will give you a better indication of how your broker is viewed by its customers.

ThinkMarkets averages 4.5/5 with over 80 ThinkMarkets Trustpilot reviews

 

The FPA scores ThinkMarkets as 3.4/5 from over 170 ThinkMarkets FPA reviews

 

The ThinkMarkets Play Store reviews are 3.4/5 from over ‎4,900 reviews

 

The ThinkMarkets App Store reviews average 4.7/5 from over 290 customer reviews

 

They also have over 111,000 ThinkMarkets Facebook Likes 

 

Thinkmarkets score 70% based on 5,480 Thinkmarkets Customer Reviews.

 

On the whole, ThinkMarkets appears to be fairly well respected by the trading community with enough Trustpilot reviews to be statistically relevant. 

 

The ThinkMarkets trading app reviews are positive with the Android App and especially The Apple Store Apps scoring extremely well compared to other brokers. 

 

ThinkMarkets also has a bustling Facebook community with plenty of followers which also usually suggests happy customers.

Funds Safety & Regulation

Funds safety is critical in your trading and it can make or break your financial future. Your level of funds protection will depend on where your regulation is from. Your country of residence does not necessarily define who your regulator will be.

 

There are many factors that go into determining your regulation. So check with your account manager after you have signed up and before you deposit to determine which body you are regulated with. 


You can usually switch regulation on signup [depending on your country of origin] which can be a good idea if you want to ensure that you get the best regulator that offers the most consumer protection and funds safety. 

ThinkMarkets are regulated in various jurisdictions. They are regulated in Bermuda as Think Capital Limited with company number 51879.

 

They are regulated in Australia as TF Global Markets (Aust) by ASICwith Australian Financial Services Licence number 424700.

 

They are regulated in South Africa as TF Global Markets (South Africa) Pty Ltd with Authorised Financial Services Provider Number 49835.

 

They are regulated in The Seychelles as TF Global Markets Int Limited with Company number 8424818-1.

 

They are also regulated in the UK by the FCA as TF Global Markets (UK) Limited with registration number FRN 629628.

 

If you are regulated in Bermuda there is no funds compensation scheme.

 

If you are regulated in Australia there is no funds compensation scheme.

 

If you are regulated in South Africa there is no funds compensation scheme.

 

If you are regulated in The Seychelles there is no funds compensation scheme.

 

ThinkMarkets offers £1 million insurance for some customers. However, it should also be noted that this comes with an excess of £20,000 which means that only deposits in excess of £20,000 will be protected.

It is always recommended that if you have a choice you should ensure you are regulated by the FCA [UK]. The FCA offers Government backed client funds protection [100% of remaining deposit] up to GBP £85,000 through the [FSCS].

FCA regulations are more strict, the regulations more transparent and they are more focused towards customers in the event of disputes. Brokers regulated by The FCA for example need to process withdrawals within one business day as per Section 7.13.13 (2)(b) of the FCA handbook

Because ThinkMarkets offer FCA regulation, it is recommended that when you open an account that you choose FCA regulation on signup. This is because it gives you access to The FSCS. The FSCS is compulsory for all brokers (including ThinkMarkets) who want to be FCA regulated in the UK. 

 

A huge benefit is that the FSCS has funds protection for investors in brokers who are regulated by the FCA. The FSCS is free to consumers and has paid out more than £26 billion for 4.5 million customers since its inception in 2001.

Fees

With regards to spread fees, this will depend on a variety of factors. This will include your account type, the asset that is being traded as well as the times that they are traded as they fluctuate depending on if trading is taking place within or outside standard trading hours. Once again, these trading hours will depend on the asset being traded. 

 

There is a page with all the spreads of all the tradable instruments and they also have the overnight calculations, inactivity fees and maturity rollover fees.  

 

It’s impossible to give a definitive answer as to spreads due to the many permutations involved in calculating the spreads so it’s better to get the actual spreads from the website itself.

Similar to other brokers, ThinkMarkets offers several accounts each with their own fee structure. They have a Standard Account as well as a ‘ThinkZero’ account which offers better spreads. 

 

Standard Account: Commission Free Spreads

Forex spreads can be as tight as 0.4 pips, with average spreads at 1.2 pips. Metals trading has prices starting at 25 cents while CFDs are also at 0.4 points.

 

ThinkZero Account: Commission Spreads

Spreads are tight and commissions are low with the ThinkZero account. It is particularly useful for day traders as well as scalpers. Average spreads are 0.1 pips for many major currency pairs.

 

ThinkMarkets’s minimum spread for trading EUR/USD is 0.5 pips. This is pretty good considering that the industry average is 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ThinkMarkets vs. similar brokers.

Other fees

There are no deposit or withdrawal fees at ThinkMarkets, and they do not charge a fee for inactive accounts.

Leverage

The amount of leverage you are offered will depend on the regulation where your account is held.

 

If you are regulated in Bermuda by The Bermuda Monetary Authority (BMA) your maximum leverage will be 1:500.

 

If you are regulated in Australia by The Australian Securities and Investments Commission (ASIC) your maximum leverage will be 1:30.

 

If you are regulated in South Africa by The Financial Sector Conduct Authority (FSCA) of South Africa your maximum leverage will be 1:500.

 

If you are regulated in the Seychelles by Financial Services Authority Seychelles (FSA) your maximum leverage will be 1:500.

 

If you are regulated in the UK by the FCA your maximum leverage will be 1:30. Note that for professional clients this can be higher but you will forfeit your rights to the funds compensation scheme offered by The FSCS.

 

Bear in mind that your leverage level is often correlated with funds safety. UK and EU regulators generally have lower leverage but you would benefit from much better funds safety levels (€100,000 and €20,000 respectively). If, however, you chose to be regulated offshore or in Australia then no funds protection is offered. So a tradeoff is usually required by you and will depend on how risk averse you are.

 

One thing to bear in mind is that if you deposit more to get the higher levels of leverage then your funds will still be covered by the state-backed compensation schemes up to the requisite maximums. 

 

Therefore, trading at an offshore jurisdiction to get more leverage would give you no financial benefit but would carry the risks associated with offshore trading such as lack of compensation schemes, lack of arbitration as well as lack of consumer protection.

Trading Products

With ThinkMarkets you can trade CFDs on forex, indices, commodities, stocks, Energy, Metals and cryptocurrencies. 

 

UK customers also have access to Forex Spread betting.

 

Share ownership is not offered at ThinkMarkets.

Broker Comparison

Before you decide on a broker it’s always a good idea to compare with other similiar brokers to ensure that your broker will deliver what you are looking for. 

 

You can select the brokers below and compare fees and features with other brokers. You can also compare funds safety levels as well as customer reviews from a variety of trusted sources.

 

By comparing, you have a better idea if this broker is right for you or if another one would be more suited to your requirements.

Selected brokers are added here – Press to compare features and customer ratings

FAQs

Is ThinkMarkets legit?

Yes, ThinkMarkets is legit. ThinkMarkets are too well established and regulated to be considered a scam. With  regulations in the UK by the FCA and in Australia by ASIC you can be sure of ThinkMarkets’ legitimacy.

 

Is ThinkMarkets regulated?

Thinkmarkets as regulated in Bermuda by The BMA, in Australia by ASIC, in South Africa by FSCA, The Seychelles by FSA and in the UK by The FCA.

 

What instruments can I trade at ThinkMarkets?

Tradable assets at ThinkMarkets include forex, metals, CFDs, cryptocurrency, and for UK residents – spread betting.

 

What is the minimum deposit at ThinkMarkets?

There is no minimum deposit at Thinkmarkets.

 

Does ThinkMarkets have a demo account?

Yes, ThinkMarkets offers a demo account with €/$/£25,000 in virtual currency. Demo account expire after 90 days of inactivity.

 

Is ThinkMarkets a trustworthy broker?

ThinkMarkets is a highly regulated and trustworthy broker. They are also regulated in The UK by The FCA which are incredibly strict in their vetting processes. Customer reviews from  Trustpilot and Apple App Store are overwhelmingly positive.

Conclusion

ThinkMarkets provides an excellent package which will satisfy most traders. With different account types, a wide range of markets and 3 top trading platforms, They are highly regulated which adds confidence to any deposits that you make. 

 

ThinkMarkets has built a loyal fan base in over 75 countries and caters to all levels of trading experience from beginner traders through to experienced investors. 

 

Beginner traders may benefit from the simplicity of ThinkMarkets standard account, where there are no additional commission fees.

 

All in all, ThinkMarkets is a solid Forex broker, highly regulated, with great customer service with good reviews and you can feel confident to trade here.

Written by James Finn

Written by James Finn

James is an ex-Barclays Bank financial services professional who wants to create a safer investing space for newcomers. James provides facts, not opinions on all brokers reviewed.

Review Last Updated July 2021

Additional information

Company size

50

Company Type

Privately Held

Foundation year

2010

Specialties

CFDs, Commodities, Contract Specs, Cryptocurrencies, Energy Trading, Forex, Indices, Metals Trading, Spread Betting, ThinkTrader

Trustpilot review

4.2

24H support

24/5

Min deposit

500

Deposit/Withdrawal options

Bank Transfer, Bank Wire, BitPay, BPAY, Mastercard, Neteller, Payment Asia, Skrill, UnionPay, Visa, WebMoney

Metatrader [PC]

MT4, MT5, Own

Mobile app

MT4, MT5, Own

Inactivity fee

30

Max leverage - Professional 1:

500

Max leverage - Retail 1:

30

Regulations

ASIC, BMA, FCA, FSCA

Available countries

Albania, Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Benin, Bhutan, Bolivia, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Cabo Verde, Cameroon, Chad, Colombia, Comoros, Congo, Cote d'Ivoire, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominican Republic, DR Congo, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea-Bissau, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Monaco, Mongolia, Morocco, Mozambique, Namibia, Nauru, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, North Macedonia, Norway, Oman, Palau, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Qatar, Romania, Rwanda, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Turkmenistan, Tuvalu, Uganda, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, Vanuatu, Vietnam, Zambia

Funds Protection

€100,000 (FSCS)*

Skill Level

Beginner, Intermediate

What you can trade

CFDs, Forex

Google review

3

Mobile Application

No, Yes

Commission Free

No

0

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