CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ThinkMarkets is a re-incarnation of ThinkForex, or rather, a simple re-branding of the latter. As ThinkForex, the operation was launched in 2010, and it quickly became one of the biggest online Fx and CFD brokerages of the Southern Hemisphere. Further enhancing the solid reputation back then, the re-branding move was undertaken in 2016 which led to further business growth and resulted in achieving prestigious awards in the areas of trading innovation and trading experience later on.
ThinkMarkets is currently authorised and regulated in the UK by the Financial Conduct Authority (FCA). In Australia they are registered with the Australian Securities and Investment Commission (ASIC) and in South Africa they are licensed by the Financial Sector Conduct Authority (FSCA). They are now also regulated by the Financial Services Authority (FSA) Seychelles.
Due to these licenses, ThinkMarkets is generally considered a solid and serious operator. One of the most attractive features of the operation resides in the extremely competitive pricing of their spreads.
ThinkMarkets currently has three platforms for their traders, their proprietary ThinkTrader platform and the ubiquitous MetaTrader 4 and MetaTrader 5 platform.
The ThinkTrader platform comes with its own selection of trading tools, chart-pattern scanners and one-click trades. It is very easy to use and it is available on desktop, mobile and tablet.
The MT4 or MT5 platform comes with its usual bells and whistles: if offers a multitude of technical analysis tools, a customizable interface and access to Expert Advisors.
MT5 offers more types of pending orders and there are more timeframes on the charts. MT5 uses the MQL5 programming language and this is not compatible with MT4. So you cannot run your MT4 trading bots on MT5 without completely rewriting the code. That's why a lot of people still prefer MT4.
Both MT4 and MT5 are available in a mobile, web-based or desktop version.
ThinkMarkets offers a demo account and two other account types: Standard account and ThinkZero. There are also Islamic accounts and joint accounts if you want to share your account with someone else.
The standard account comes without commissions, but with a higher spread. Forex spreads start from 0.4 pips and are average 1.2 pips. The ThinkZero account has forex spreads starting from zero pips with an average of 0.1 pips. You do have to pay $3.5 commission per $100,000 trading lot though.
The maximum leverage rate at ThinkMarkets is 1:500.
The ThinkMarkets support is a fairly run-of-the-mill operation. They generally seem eager to help out, if for no other reason, then to uphold their reputation. As part of their commitment to customer service, customer support is available to their clients 24/7.
Support can be reached through two global phone numbers as well as through email and live chat.
ThinkMarkets are well-regulated and their spreads/commissions are extremely competitive. They feature attractive promotions and a bevy of useful educational material.
Click here to visit the ThinkMarkets website and to try the free demo or open an account.Visit ThinkMarkets