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ThinkMarkets, formerly ThinkForex of TF Global Markets (Aust) Pty Ltd. is a global provider of FX trading and related financial services that has won many awards since its introduction in 2010. ThinkForex/ThinkMarkets is headquartered in Melbourne, Australia and in London, UK. It is regulated by the Australian Securities and Investments Commission (ASIC).
In 2014, ThinkMarkets as ThinkForex was recognized for its quality market analysis and research, and was awarded the Best New Contributor award at the Forex Best Awards 2014, hosted by FXStreet.
It was also named a Gold supporter of the Champion for Children program by Unicef whereby the broker will make a regular monthly contribution to this worthwhile cause.
There are three different accounts at ThinkForex—the Standard, Pro and the VIP—which can be used on either the cTrader or MT4 platforms and can be set up as individual, joint, corporate and superannuation. The Standard account requires a deposit of $250 at inception and there is no commission involved. $2000 opens the Pro account which charges a commission of 3 units per side. Anyone with $25,000 can open the VIP account where commissions are negotiated with the company.
The maximum leverage for the accounts is 500:1 and the minimum lot size for the Standard and Pro are 0.01, and for the VIP account it is 0.10.
ThinkMarkets offers tight spreads, no dealing desk (NDD) execution, no price manipulation, and a partnership with Equinix – an internationally-renowned technology firm – to manage their data centres.
All three accounts mentioned above can be opened as Individual, Joint and Corporate accounts. Autochartist is available for the Pro and VIP accounts and an account manager is assigned to each trader holding these accounts.
All Standard, Pro and VIP accounts allow the use of Expert Advisors and as well as Robots. Scalping is also allowed but there is no minimum duration required to keep trades open for.
The Pro account offers a swap-free version for those following Sharia laws.
ThinkForex/ThinkMarkets demo accounts can be opened using any of the three accounts. These demo accounts use the same price feeds as live accounts, so there is no difference between spreads and price activity. Since live account execution requires taking liquidity and market depth into consideration, ThinkForex does not recommend comparing trading results between live and demo accounts. Demo trading accounts can be opened using any of the three accounts.
ThinkMarkets offers 35 of the most popular FX pairs, combining ultra-low spreads and non-dealing desk (NDD) execution in a high-speed trading environment.
Traders can trade CFDs on equity indices, metals, energies, soft commodities, and alternative asset futures contracts, as well as a number of cash contracts. Trading CFDs will enable access the global financial markets, all from one account.
They also provide trading in Gold and Silver across a range of contract sizes with highly competitive pricing.
The affiliate program offered by ThinkMarkets was launched in 2016. ThinkAffiliates is an online marketing initiative that promotes ThinkMarkets' products and services and remunerates its partners.
The ThinkForex Trade Manager is also revolutionary. This application provides professional traders with the most efficient way to manage trades using the MetaTrader 4 platform by delivering useful features like one-click execution, risk calculation, and the ability to copy or execute trades on multiple accounts and set automatic trailing stops, partial closes, and hedges.
Reuters is the world’s leading source of international business news employing thousands of journalists for business professionals and leading decision makers globally. ThinkForex account holders receive a host of material from Reuters such as economic commentary, central bank bulletins, technical level reports and more.
An updated economic calendar is also available.
Education is important at ThinkMarkets and the broker offers a range of educational material.
Forex Education Courses
Traders can access Autochartist, the world’s most advanced tool for the automatic identification of trade opportunities in the form of Chart patterns, Fibonacci patterns, and Key Levels. Autochartist’s proprietary technology allows their search engines to monitor thousands of financial instruments 24 hours per day uncovering trade opportunities as they occur.
Autochartist brings instant scan results of tradable patterns identified across thousands of symbols, from intraday to end-of-day and delivers both audio and visual alerts directly to the trader.
ThinkMarkets also offers free webinars, seminars and training events. FX University provides interactive education.
At the time of this review clients of ThinkMarkets were eligible for a $250 welcome bonus. They also receive insurance protection which protects eligible clients for up to £1m over any claim with the FSCS in the event of our default or insolvency.
ThinkMarkets offers a variety of easy and secure methods for you to fund your trading account, such as bank wire, credit/debit card, and Money Bookers/Skrill.
Accounts are managed through the broker’s secure ThinkPortal which allows traders to log in and see all the information regarding each account.
Withdrawing funds from a ThinkMarkets account is easy and quick. Withdrawal requests received before 1pm AEST will be acted on the same day, with all others being acted on within 24 hours.
Traders can contact a representative at customer service via phone, e-mail, or live chat. Their multi-lingual support team is available 24 hours a day during the forex trading week.
ThinkMarkets is one of the few brokers that allow hedging, aggressive scalping, and high speed automated trading. It offers updated technological infrastructure and provides superior customer service.
Among the features offered by ThinkForex under its new brand, ThinkMarkets is the different spreads. Depending on the type of trading account, spreads varies according the type of assets traded and can be as low as 0.2 pips. As for commissions, standard account pays nothing but Pro account holders are charged 3 units per leg per lot. VIP account holders pay a special variable rate scaled according to the trading volume.
2016 saw the launch of ThinkTrader – ThinkMarkets very own proprietary trading platform. Based on in-depth customer research and user experience testing, it was designed, built and created in-house by their team of platform experts.
ThinkMarkets offers several trading platforms, MT4 which is downloadable to iPhone and Android. The downloadable version has more features than the web-based platform and allow additional customization. MetaTrader 4 has built-in features to enable traders to trade with one, simple click giving them assess to the market quickly and helping to get the price they want without waiting.
MetaTrader 4 Platform
In addition, the ThinkForex MAM (multi-account manager) solution enables Forex Money Managers to handle multiple trading accounts simultaneously and allows you to observe and work with several trading accounts at the same time.
The ThinkTrader and MT4 platforms can be downloaded to iPhones, iPads, Androids, Blackberries and Windows allowing traders access to trading, viewing charts, and reviewing account history, and other features. apps are continuously updated with each new release of iOS, and are available in ten languages.
ThinkTrader Mobile Platform
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Review info: ThinkMarkets
Review Date: 2016-07-27
Rating : 4
Reviewed By : Sara Patterson (Google+)