ThinkMarkets Review 2023 – Is This A Trusted Forex Broker?
ThinkMarkets Review 2023 – Is This A Trusted Forex Broker?

At first glance, everything looks nice and shiny. Broker operates since 2010 with all valid licenses. The main company that owns all entities is TF Global Markets Pty Ltd. But besides regulations, some traders have filed complaints against this broker.

To find out why ThinkMarkets broker has such a reputation, continue reading this unbiased ThinkMarkets review.

In addition, we recommend reading our reviews about brokers Blackbull Markets, LiquidityX and FXGlobe.

Broker status:Regulated Broker
Regulated by:FCA, ASIC, CySEC, FSCA
Websites:Thinkmarkets.com
Regulators’ Complaints:N/A
Owned by:TF Global Markets Pty Ltd.
Headquarters Country:UK / Australia
Foundation year:2010
Supported Platforms:Web trader / MT4 / MT5
Minimum Deposit:$0
Cryptocurrencies:Yes – ADA, XRP, BCH
Types of Assets:Forex, Commodities, Indices, Shares, Cryptocurrencies
Maximum Leverage:1:500
Free Demo Account:Yes
Accepts US clients:No

Is ThinkMarkets a Regulated Brokerage Firm?

ThinkMarkets broker has multiple entities all over world. All those are regulated by a designated authority. Starting with FCA and ASIC. Those belong to Tier 1 regulators. Moreover, we checked their register to confirm this and ThinkMarkets was on the list indeed.

They are regulated by CySEC (Cyprus) and FSCA (South Africa). What is strange is that still, besides all these licensing traders have complaints about this broker.

Besides all regulations they have, ThinkMarkets’ reputation is not so good. By checking any ThinkMarkets review we could see traders complaining about withdrawal procedures.�

Why Is Trading On a Licensed Broker’s Platform Preferable?

Licensed brokers provide some security to their traders. But the level of security depends on strength of regulation. That’s why some have very strict rules, while others have them loosened. In general, licensed brokers protect traders with compensation funds and separate bank accounts.

Does ThinkMarkets Offer MetaTrader 4&5?

ThinkMarkets Trading Platforms

To sum it up, yes. As the leader in the trading industry, MetaTrader is something that every trader is looking for. Primarily, because of the advanced features that it offers. Secondly, because of high reliability and security.

ThinkTrader

Think trader is a proprietary web-based trading platform. ThinkMarkets broker claims to have here smart positions, better tools, charting and many more.�

Surprisingly, even more indicators and options than Meta Trader 5. But considering all negative reviews from traders, we would stick to trusted MT5. Maybe even another broker.

Mobile Apps

On the positive side, MT4 & MT5 are available for download on any device. That way you don’t depend on the browser. Less likely you will have any technical issues. On the negative side, ThinkTrader doesn’t have a mobile app. Which is a huge downside.

ThinkMarkets’s Trading Assets and Instruments

ThinkMarkets broker provides access to all 5 major instrument classes. Any trader can find something that suits them. However, leverage of up to 1:500 is something we should avoid if we want to be profitable. Anyway, those instruments are:

  • Forex                        EUR/SEK, GBP/JPY
  • Commodities            natural gas, palladium
  • Indices                      DAX30, CAC40
  • Shares                      Apple, Microsoft
  • Cryptocurrencies       BCH, ADA

Which Types Of Accounts Does ThinkMarkets Offer?

ThinkMarkets Account Type Review

Trading companies tend to motivate traders to invest more money with competitive trading conditions. But point is that nothing is free with trading companies. If you get a lower spread, you get a higher commission and vice versa.�

However, ThinkMarkets offers 2 main account types:

  • Standard
  • ThinkZero

Does ThinkMarkets Have a Free Demo Account?

Besides live trading accounts, traders can test their strategies here with a demo account. On the negative side, you are provided with 25.000 USD as a virtual balance.�

With that amount of money, you won’t have a realistic picture of trading. Therefore, once you get in with real money, it is a whole different story.

Negative Balance Protection

One of the important features that prevent traders from getting into debt is negative balance protection. Luckily, that is one of the options that ThinkMarkets provides. Even though you can’t get into debt, you can still lose all of your funds, according to some ThinkMarkets reviews.

ThinkMarkets Affiliate Programme

ThinkMarkets allows anyone who has an interest and business in digital marketing to promote this company. Of course, you are rewarded with a commission for every trader coming through your channel.��

Practically, you need to share a link to this broker and to recommend it to other people. But if you never did it yourself, it’s not quite representative.

Minimum Deposit and How Do I Withdraw?     

The minimum deposit requirement is not revealed with this broker. So, once you register and get a first call from a broker, anything is an option.�

When it comes to a withdrawal, it is quite mysterious as a deposit. Many traders complained about withdrawal issues, where the ThinkMarkets broker is either blocking their accounts or not approving withdrawals.

ThinkMarkets Payment Methods Available

With such trusted payment options, we are shocked that traders couldn’t get a chargeback so far. This broker accepts:

  • Cards
  • Wire transfers
  • PayPal
  • PoLi
  • Neteller
  • Skrill
  • BPay

As for withdrawal methods, you can use same options. But charges are quite different.

About ThinkMarkets Terms and Conditions

Regulators have designed T&Cs that this broker has to comply with. Important to realize is that you don’t need to comply with those regulations.�

As can be seen, in many ThinkMarkets reviews, traders are complaining about withdrawals. Those are strictly controlled and the most important part of trading. Yet, some brokers are trying to avoid those rules.

Leverage, Spreads, and Fees

For trading in the EEA zone, the maximum leverage allowed is 1:30. ThinkMarkets broker gives leverage up to 1:500. Highly dangerous, especially for retail traders.�

Not only leverage is high, but also spreads. Many traders complained about the huge gap between buying and selling prices. Moreover, fees that are up to $8 per share are bizarrely high. Not to mention a $3.5 per lot with a “Zero spread” account.

What Should I Do If I Have a ThinkMarkets Problem?

Primarily, this broker has very strict regulators. Report to them any issue you might have. Secondly, you can share your experience with other traders here. Thirdly, you can get a refund if you are not satisfied with the service. Our expert fund recovery team is working on that for years.

Get in touch today to start the fund recovery process.

What Is ThinkMarkets?

Their operations are active since 2010 worldwide on Forex and CFD markets.

Is ThinkMarkets a Regulated Broker?

To sum it up, yes. ThinkMarkets is regulated by multiple entities like FCA, ASIC, CySEC and FSCA.

Is ThinkMarkets Available in the United States or the UK?

The broker is licensed by FCA (UK) therefore it’s available for UK clients. On the contrary, they don’t offer services to US residents.

Does ThinkMarkets Offer a Demo Account?

Besides 2 main real trading accounts, ThinkMarkets offers a demo account. It’s preferable option for checking trading conditions and platform options.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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