ThinkMarkets: Test & Honest User-Ratings

ThinkMarkets user-ratings: $0
9.7/10
9.7 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 10/10
    10/10
  • Support - 8.5/10
    8.5/10
  • Fees - 10/10
    10/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: Forex and CFD Broker 
  • Regulation: FCA
  • Minimum deposit: $0
  • Demo account: Free
  • Markets: CFD, Forex, Indices, Cryptocurrencies, Commodities, Shares
9.7/10
Comments Rating 9.7/10 (1 review)

Pros

  • Insurance cover for deposits up to GBP 1 million
  • Trades from 0.00 pips possible
  • Different account models for traders
  • Free further training opportunities & analyses
  • Economic Calendar available

Cons

  • Customer support not available 24/7

ThinkMarkets CFD experience

Doesn’t it sound too good to be true – trading from 0 pips and with a maximum hedge of 1 million GBP? We went into the ThinkMarkets test and wanted to know if this statement was true. Investors can be happy because trading is actually possible from 0 pips and the capital is secured with insurance of 1 million GBP – the largest in the brokerage industry. This alone has convinced us to judge other categories in the test.

Our summary is also positive here. Investors can look forward to numerous financial instruments, various account models, and a wide range of different training opportunities, free analyses, and more. Those who would like to gain ThinkMarkets experience themselves can simply use the broker’s demo account, which is also free of charge.

Screenshot of the ThinkMarkets landing page

Which Markets can be traded with ThinkMarkets?

In the test, we first took a closer look at the broker’s trading offer and were positively surprised. The traders can trade several assets:

  • Forex
  • Crypto Currencies
  • Metals
  • Shares
  • Indices
  • Raw materials

In order to be able to judge how extensive the trading offer is, we have taken a closer look at the individual underlying. The ThinkMarkets experience is positive, as the broker not only offers live prices but also particularly favorable spreads. We start with the foreign exchange; not only the main currencies but also secondary currencies and selected exotics are available.

If you would like to get an overview of the trading offer first, you can start with the free demo account. For prospective traders who want to limit the risk, we recommend trading the liquid foreign exchange (the main currencies) first. These have much smaller price fluctuations, but they also carry a lower risk of loss.

Trading Shares


Investors can also trade countless shares with the broker, which are even offered without fees. The focus is on the most important global securities, such as Amazon Google or Apple. But that’s not all, because the traders can select country-specific and choose for example:

  • British shares
  • European shares
  • US shares
  • Swiss shares
  • Greek shares
  • Swedish shares
  • Polish shares
  • Australian shares
  • Hong Kong shares
  • South African shares

Experience has shown that the largest proportion of 100 equity CFDs each is made up of British and Hong Kong equities.

Trading Indices


The ThinkMarkets Test also focuses on the indices. However, the selection is limited compared to other underlying instruments, as traders can only trade ten indices on contracts for difference.

Raw CFDs


Commodity CFDs and contracts for difference in metals are also available on ThinkMarkets. For example, investors can invest in oil, natural gas, silver, and other underlying of this type. However, compared to the offerings of equity CFDs, Commodity, and Metals CFDs are much smaller.

A small selection of crypto-CFDs


Bitcoin and Co. have a firm place with many brokers and can also be traded on contracts for difference. That is why it was interesting to look at the ThinkMarkets Test. A total of five crypto-CFDs are offered: Bitcoin, Litecoin, Ripple, Bitcoin Cash, and Ethereum.

Trade Futures


If you want to invest in other underlying, you can also take a look at the future offers. Traders can trade them on wheat, corn, cotton, or PCBs, for example; there are eight financial instruments in total.

Indices9
Raw materials10+
Shares1200+
Cryptocurrencies5

CFD Trading Conditions

The ThinkMarkets Test was particularly interesting in terms of trading conditions; here the provider can keep up with other brokers. For a more detailed overview, we take a closer look at the costs for the individual underlying. The leverage for private investors is set at a maximum of 1:30 for Forex major currencies. Professional traders can use maximum leverage of 1:500. For other underlying, the leverage can vary significantly; for crypto CFDs, it is a maximum of 1:2. There are also big differences in lot sizes and spreads.

Forex conditions
Traders have the possibility to open an account with the broker, where the spreads are 0.00 pips. For example, if you trade EUR/USD, you have a lot size of 100,001 and a minimum position size of 0.01, a maximum of 50. The maximum position size on the special ThinkZero account is 100. The minimum spreads are standardized at 0.4.

InstrumentMin spread (Standard)Min spread (Think Zero)
USD/JPY0.40.0
GBP/USD0.40.0
USD/CHF0.40.0
AUD/CAD0.40.0

There are deviations in the secondary currencies and exotic currencies. To get an idea of the variable costs first, we recommend using the broker’s demo account. This will make it easier for investors to compare the fees and costs and later decide on the right live account, as there are also two different options here.

Trading conditions for indices
The conditions for trading the indices also differ. The traders can operate with a maximum leverage of 1:20 but have variable position sizes. There are also restrictions on trading hours, with traders being able to operate in the global market mainly between 9 am and 11 pm.

Trading conditions for energy and metals


Trading conditions for energy and metals also vary. Crude oil and natural gas are traded in USD and have a maximum leverage of 1:10 or 1:25 (for natural gas). For metals, we have found maximum leverage of 1:20 (for gold, mini-gold, and gold zero), and 1:10 for all other metals.

Conditions for crypto-CFDs


The conditions for trading crypto CFDs also vary. Traders have the option to use maximum leverage of 1:2 and are faced with a maximum position size that varies depending on the Internet currency. Bitcoin has 20 contracts and Ripple even 5000 contracts. The trading hours for the cryptocurrencies also differ from the other underlying instruments: Monday 0:00 am to Friday 11:59 pm.

Conditions for equity CFDs


Those interested in the more than 200 equity CFDs can trade them with a maximum leverage of 1:5. The spreads are variable, as are the trading hours. Investors can trade EU securities from 10:00 to 18:30.

Trading conditions for futures


Not to be forgotten in the ThinkMarkets Test are the trading conditions for the futures. The security deposit is 10 percent in each case and the contract months differ significantly. Cotton, for example, can only be traded in March, May, October, July, or December; corn in March, May, July, September, and December.

the 3 trading accounts of ThinkMarkets

In the test, we also took a closer look at the different account models and can draw positive feedback. In addition to the standard account, we also offer a separate account for professionals and even an account with extremely low trading costs. Even an Islamic account is possible with the broker.

You can chose between these five options:

  • Free demo account
  • Standard account
  • Think Zero account
  • Professional account
  • Islamic account

Let’s take a closer look at the differences between the individual account models to have a better comparison. The first is the standard account for private investors.

Standard account presented


The standard account is the trading entry point for private investors. It allows trading with a maximum leverage of 1:30 (professional traders 1:500) and offers trading in countless financial instruments from 0.4 pips. The average Forex spread here is 1.2 pips.

A minimum deposit is not required, which makes the account so interesting for prospective traders. The MT4 is available as a trading platform together with the Trade Interceptor. However, a personal account manager and the AutoChartist are missing. Therefore, investors can use the live spot around the clock on six weekdays.

Think Zero account


This account is something very special but requires a minimum deposit of 500 euros. Trading of foreign exchange and other financial instruments is possible from 0 pips. The average Forex spread is 0.1 pips. While there is no commission on the standard account, the ThinkZero account charges it.

The account also differs from the standard model in terms of maximum position size, as investors have a maximum position size of 100 lots (standard account 50 lots). As a trading platform, investors can only use the MT4 and even have a personal account manager and access to the AutoChartist function.

Standard accountThink Zero account
Forex spreadsFrom 0.4 pipsFrom 0 pips
MetalsFrom 25 centsFrom 8 cents
CommissionNone$3.5 per side (100,000)
Minimum deposit$0$500
Maximum tradeable size50 Lots100 Lots

Professional account for ambitious investors


The broker also offers its clients the opportunity to become professional traders and open an account with preferential conditions. However, in order to be classified as a professional, some things are required. Traders must meet eligibility criteria:

  • Have opened 40 trades of significant size in the last 12 months
  • A Financial portfolio of at least 500,000 euros
  • Professional experience in the financial sector

First, investors open a normal account with the broker and can then request an upgrade. To do this, they use the reclassification form to request a professional trader to contact customer support. The staff will check all eligibility criteria and then contact you.

In the best case, the professional account will be activated within a very short time. Those who have made the leap to professional traders can enjoy many advantages. One of them is the maximum leverage of 1:500, plus the personal account manager for all inquiries.

CFD trading platforms: different platforms available at ThinkMarkets

Which trading platforms are provided by the broker who has made a positive impression so far? We tried to answer this question in the test and had high expectations because so far the offer of ThinkMarkets has convinced us. Investors can choose between three platforms:

  • MetaTrader 4
  • MetaTrader 5
  • ThinkTrader

MT4
The highlight: The platforms can not only be used for the PC but are also available as mobile applications. Let’s first take a closer look at the possibilities of the well-known MT4. Due to its functionality and user-friendliness, it is certainly known to many traders, as it is one of the leading platforms and has proven itself, especially in forex trading. The MT4 can be installed on the desktop or used via the web browser without prior installation. There are also mobile solutions for the smartphone or tablet that allow trading on the go.

Advantages of the MT4
The trading platform has many advantages, which are not only in functionality and user-friendliness. Investors can use countless tools and indicators for chart analysis and access real-time data. This makes price analysis even more precise. Anyone who wants to can also be informed about interesting market changes in real-time; even on a smartphone or tablet using the push function. Traders can use the powerful pattern recognition software AutoChartist and even perform a personalized search matching their own strategy.

MT5
The MetaTrader 5 offers a lot of further benefits as well as numerous technical analysis tools. With the MT5 traders have access from their browser. So the download of the platform is not necessary to trade. In addition, an economic calendar with advanced features is integrated. Also, with the MT5 6 pending order types are included. In contrast to that, the MT4 only offers 4 pending order types. MetaTrader 5 can be downloaded to the desktop or as a mobile version on Android, iOS, or iPad.

MetaTrader 4MetaTrader 5
Timeframes921
Pending order types46
Additional featuresPartial order filling,
Economic Calendar,
Hedging and netting options,
Multi-thread strategy tester

ThinkTrader
The platform ThinkTrader can be used on the PC as well as conveniently via mobile devices like smartphones or tablets. Investors can close multiple orders at one click. But that is not all. 50 intelligent drawing tools are available, which can be skilfully used for technical analysis via mobile devices. There are numerous other options and triggers as well as the trend risk scanner to identify the best trading opportunities with the highest risk/return ratios in no time at all and use them for your own trading decisions.

  • MT4: Yes
  • MT5: Yes
  • iOS: Yeah
  • Android: Yes
  • Broker-owned software: Yes

Usability of the website: fresh, modern look and high functionality

The ThinkMarkets website left nothing to be desired in our test. Investors can look forward to a young, modern Internet presence that impresses with its user-friendliness and functionality. On a white background, all information is presented in a well-structured manner; highlights are highlighted in green.

Many websites of other providers are so overloaded that investors do not know where to look first. This is where ThinkMarkets leads by example, with a well-structured site that saves investors a lot of time when searching for trading topics.

Structure introduced
In the test, we took a closer look at the start page and the numerous sub-pages and were positively surprised. The structure is well solved, you know exactly what to expect in the individual categories. In the upper area of the website, traders can select specifically according to the individual subject areas:

  • Trading
  • Learn To Trade
  • Market Analysis
  • Partnership
  • About ThinkMarkets

Nearly all menu items are self-explanatory and once you have clicked through the individual categories, you will quickly understand the logic behind the structure and find your way around.

The functionality even for mobile applications


The positive impression continues with the mobile application because the website can also be accessed via the browser using a smartphone or tablet. Traders find all information as it is displayed on the PC and do not have to do without anything. Access to the trading account or the charts is also possible without any major problems.

Customer support: Callback service possible

The evaluation of customer support was not easy in the test. Because the Broker shows many positive approaches, but there is also the potential for improvement. First of all, it should be said that those who want personal contact on-site will not get it because ThinkMarkets has its headquarters in London and in Melbourne. Although a postal address is available, there are no local contacts or even advice.

Use different ways of contact


Our experience shows that investors can use a variety of contact channels, including the telephone, live chat, and e-mail. There are designated telephone numbers for some countries: Great Britain, Australia, Spain. Investors from other countries must expect additional costs when calling.

In order to avoid this, we have a special tip: via the live chat, traders can describe their concerns and provide their telephone number. Although no exclusive callback service is provided, those who ask for a callback in their message may be lucky and their wish will be granted.

Limited service hours


As our experience shows, the broker is not available to investors 24/7. The live chat is available 24 hours a day from Sunday evening to Friday evening. Of course, investors can also leave a message outside of these hours, which the support team will then take note of and process when they return. However, especially after the weekend, when the volume of traffic is very high, the response from the support can take a little longer.

Support available:24/5 throughout the trading week
Telephone:UK: +44 203 514 2374
AUS: +61 3 9093 3400
Adress:support@thinkmarkets.com
Languages:1+

Payment methods: various payment service providers available

If investors want to use their own account and not the demo account, the account capitalization is required. For this purpose, a verification must first take place in order to deposit an initial amount after the live account has been released. If you use the standard account, you do not need to deposit a minimum amount, unlike the ThinkZero account, which requires a minimum of €500. As a service provider are available:

  • Bank transfer
  • Visa
  • MasterCard
  • Neteller
  • Skrill

Let’s look at the specific characteristics of the individual service providers and show what investors need to pay attention to. The available currencies differ in the transfer options. Those who use bank transfer can make deposits in AUD, EUR, CHF, GBP, and USD; the same applies to Skrill. If investors wish to capitalize on their account via Neteller, the following currencies are available: USD, EUR, GBP, JPY, and AUD. When using credit cards, these are AUD, EUR, CHF, GBP, and USD.

Different transfer times
There are also big differences in transfer times. For bank transfers, investors should expect a transaction time of one to three working days. If Visa or MasterCard is used, the account capitalization is carried out immediately. With Neteller and Skrill, the transaction can take up to 10 minutes.

ProviderEstimated transaction time
Bank wire1 – 3 business days
Credit/Debit cardInstantly
NetellerUp to 10 min
SkrillUp to 10 min
BitPayUp to 10 min

The deposit method determines the payout
Only the service provider through which the deposit was made can be used for withdrawals. If you transferred your capital to the account via bank transfer, you can only use the bank transfer for payouts. But be careful, because individual providers may incur additional costs due to currency conversion, with which the broker has nothing to do.

Additional offers: ThinkMarkets demo account, extensive training & free analysis

In the ThinkMarkets Test, we were particularly impressed by the additional offers, especially the demo account. Let’s take a look at what investors can look forward to with the CFD broker. The demo account is a good way to test whether you have what it takes to be a trader and how you can use your talent at the broker.

ThinkMarkets offers a demo account with 50,000 Euros of virtual money. Traders have access to charting tools and technical analysis and can trade via the MT4. Those who wish can also try Trade Interceptor with another demo account, although it is still allowed to have a demo account with the same email and address.

Take advantage of free educational opportunities
All investors who want to learn how to trade or improve their trading knowledge are welcome to join the Broker and receive the support they need. There are training courses specially tailored to trading levels so that everyone can find the right service for them. The individual lessons are divided into:

  • Beginners
  • Advanced beginners
  • Advanced

In the individual sections, the traders not only learn everything about trading on the global markets, but also the basics of the trading platform, basic terms, and types of orders. In the further course, they will deal with risk management, strategies, and much more.

Investors can complete the individual lessons at their own pace, without any pressure. The theoretical basics can be consolidated and put into practice with the demo account with virtual assets. The best thing about it: if a trade goes wrong, investors do not lose their own capital directly, but only their virtual balance.

Trading for BeginnersIntermediate Trading TutorialsAdvanced Trading Tutorials
10 Tipps to Successful TradingBid ask SpreadsJapanese Candlesticks
CFDs explainedCandlestick trading guideTechnical Analysis
Forex explainedChart patternsFundamental Analysis
How To Spread BetHow to create a trading planFibonacci Ratios
How to start trading the marketsMarket TrendsSupport and resistance
How to trade CFDMT4 tips and tricksMarket participants
How to trade ForexOrder TypesTrading styles
Leverage and marginPrice chartsTimezones and liquidity
Offered lessons for Beginners, Intermediates and Advanced Traders

Trading guidelines for everyone
In the test, we also liked the offer of the trading guides, because the investors find complete instructions and interesting tips for trading around foreign exchange or CFDs. All contents are also available in German, which is not a matter of course, especially for internationally operating brokers.

Free analyses and market news
A positive impression was also made by the broker’s offer of free analyses and market news. Traders can not only access the economic calendar or AutoChartist but also attend regular webinars and other events. In addition, there is countless market news, all around the various underlying. This complex offer for private investors is not self-evident, so we would like to positively highlight the Broker’s training and news offered in the test.

  • E-mail: Yes
  • Economic calendar: Yes
  • eBooks: Yes
  • Videos: Yes
  • Online courses: Yes
  • Demo account: Yes

Regulation & Deposit Insurance: FCA regulation and separate accounts

The topic of security played a major role for us in the test. After all, we only want to recommend brokers that operate in a regulated environment and protect investors’ capital in the best possible way. That is why we focused on ThinkMarkets deposit protection and regulation. Based in London, the Broker is authorized and regulated by the Financial Conduct Authority (FCA). This means that it must comply with strict requirements to retain this license and undergoes an annual review.

Separate accounts


Like many other CFD brokers, ThinkMarkets works with segregated accounts. This means that the broker’s own funds are kept separate from client funds. The broker relies on high security and also regulated banks. For example, Barclays Bank, which itself is an institution in the financial sector and relies on deposit protection, was selected for this.

Protection through the financial services compensation scheme (FSCS)


What happens if the broker becomes insolvent? Many investors are afraid of their capital which is on the trading account. If a broker does not offer sufficient protection, this fear is justified, but not with ThinkMarkets. Investors enjoy special protection through the UK Deposit Protection Fund, so funds up to GBP 50,000 per client are protected.

Insurance up to 1 Million GBP


But the protection goes even further with brokers, and in a way, we have never seen before in this industry: Investors receive GBP 1 million of insurance. Since 2015, ThinkMarkets has been offering exclusive insurance coverage that protects the deposits of retail investors and professional traders up to GBP 1 million. Those who wish to do so can conveniently view the relevant insurance policy online.

Data security


ThinkMarkets relies on extraordinary trading infrastructure. This not only includes the display and trading of prices in real-time via powerful computers but also the security of the data. The powerful computer center in London is the heart of the broker and has state-of-the-art technology to make transmissions in record time.

In addition, the Equinix data center in Hong Kong, which is used by 425 financial institutions, provides fast processing for ThinkMarkets investors. This ensures that transactions are completed without delay and investors can interact with the live account in real-time. The demo account is also offered with near-market conditions so that traders have an optimal opportunity to develop and test strategies, which they can then transfer to the live account.

  • Regulatory Authority: FCA
  • MiFID II: Yes
  • Deposit guarantee: GBP 50 000

Awards: hardly any reports and awards in Europe

In the test, we were naturally also interested in the awards and mentions in the trade media. After all, there is positive coverage of many renowned suppliers in the industry. However, we found that no media reports are available at ThinkMarkets, at least in Europe. There are various reasons for this, the main reason is probably the regional concentration. The Broker mainly addresses international customers, as the numerous language options on the website also show. Still, we have seen in our own test that ThinkMarkets convinces with a positive impression and several awards.

Positive feedback with mobile applications


We received positive feedback not only in many areas of our test but also in the mobile applications. The MT4 trading platform and Trade Interceptor received a lot of positive feedback, which we can only confirm after the test. The traders praise all the functionality and user-friendliness, which we were also able to experience in the practical application.

As there are no media mentions, we recommend all investors interested in the broker to do their own test. Don’t worry, you don’t have to invest your own capital for this, you can simply use the demo account. Get an idea and check our test results yourself.

Conclusion: Customers are maximally secured with ThinkMarkets

The range of trading on ThinkMarkets is enormous, as investors can choose from countless financial instruments with a focus on CFD trading. In addition to foreign exchange or securities, these include indices or commodities. In order to get to know the broker better or simply test the trading offer, there is even a free demo account with 50,000 GBP credit. This makes it particularly easy for investors to enter CFD trading without risk.

If you want to switch to a live account, later on, you can do so with just a few clicks, and with the standard account, you don’t even need a minimum deposit. If investors want to secure the particularly attractive spreads starting at 0.00 pips, this is possible with the other live account, the ThinkZero account. However, a minimum deposit of 500 EUR is required here.

Professional traders are also welcome and can upgrade after entering with a regular account with sufficient experience and a high trading volume. In the test, our focus was not only on the different account models and trading possibilities but also on the extras. ThinkMarkets has many of these, and investors can look forward to extensive training, free news and analysis, and innovative trading platforms with real-time data and many tools.


Most asked questions:

Is ThinkMarkets a regulated Broker?

Yes – In the UK ThinkMarkets is regulated by the Financial Conduct Authority (FCA) under the FRN 629628. Also, the Broker is the holder of Australian Financial Services (AUS) and is an Authorised Financial Services Provider (South Africa).

What can I trade with ThinkMarkets?

ThinkMarkets offers a large variety of different Markets to trade in. That counts CFDs, Forex as well as Indices. But you can also trade Shares, Commodities and Cryptocurrencies.

What payment methods does ThinkMarkets offer?

ThinkMarkets gives you the opportunity to chose between different payment methods. For example Credit Card (Visa, MasterCard), Bank Transfer, Neteller or Skrill.

What account types does ThinkMarkets offer?

ThinkMarkets offers the opening of a free Demo account. This way, traders can first generate experience or develop a strategy. Furthermore you can open a Standard account, a Think Zero account or even a Professional account.

One Response

  1. Andre Witzel September 13, 2020

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