ThinkMarkets is a CFD and Forex broker that offers access to several instruments and markets, such as indices, commodities, and currencies. It is an excellent broker for those looking to trade cryptocurrency CFDs.
This broker is regulated by FMA in New Zealand, the Financial Conduct Authority in the United Kingdom, and ASIC. ThinkMarkets was established in 2010 and has several years of experience in online trading and segregated client funds management.
ThinkMarkets
Best ForCFDs & Forex
Recommended ForScalpers, High-Frequency Traders, Algo Traders
More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Best ForCFDs & Forex
Recommended ForScalpers, High-Frequency Traders, Algo Traders
- Trader Level Advanced
- FX Fees Low
- FX pairs 34
- Account Opening Speed 10 minutes
4,1 / 5
Overall score
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Web trading platform4.5
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Fees4.4
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Mobile App4.5
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Deposit and withdrawal 3.8
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Available assets3.0
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Account opening5.0
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Education and Research 3.7
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Support3.9
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Overall rating4.1
More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Getting Started With ThinkMarkets
ThinkMarkets offers a demo account which is an excellent way for you to familiarize yourself with their platform.
The minimum deposit fee with this broker starts at €0, and it can make a smooth transition from the demo o the live account.
1. Fees and Spreads
ThinkMarkets charges a fee from the spread, the difference between the sell and buy price of an instrument.
The information about fees and spreads is shared on ThinkMarket’s website, as shown in the table below.
Fees and Spreads
| Forex | ThinkMarkets | City Index | XTB |
|---|---|---|---|
| USD/EUR | 0.5 pips | 0.7 pips | 0.1 pips |
| USD/GBP | 1.2 pips | 1.7 pips | 0.1 pips |
| USD/JPY | 1.0 pips | 0.6 pips | 0.1 pips |
| USD/AUD | 0.8 pips | 0.6 pips | 0.2 pips |
| USD/CHF | 1.0 pips | 2.3 pips | 0.2 pips |
| USD/CAD | 0.9 pips | 0.5 pips | 0.3 pips |
| USD/NZD | 2.0 pips | 2.8 pips | 0.3 pips |
| GBP/EUR | 1.0 pips | 0.5 pips | 0.1 pips |
The minimum spread for trading USD/EUR is 0.5 pipis, a lower one than the standard USD/EUR spread of 0.70 pips.
For example, if you were to acquire one standard lot of USD/EUR (100k units) with ThinkMarkets at an market rate of 1.1719 and then sell it the following day at the same price, you would pay $9.37.
Here’s how this broker’s fees compare against its main competitors AvaTrade and XTB
| Header | ThinkMarkets | XTB | AvaTrade |
|---|---|---|---|
| Spread From: | $1 | $2 | $7 |
| Commission: | $0 | $0 | $0 |
| Cost Of A 100k Trade | $1 | $2 | $7 |
2. Assets
ThinkMarkets provide more than 50 distinct trading instruments, including more than 34 currency pairs. Here’s a review of the diverse types of assets offered by this broker.
Assets
| Currency CFDs/FX | ThinkMarkets | XTB | AvaTrade |
|---|---|---|---|
| Total Forex Pairs Available | 34 | 48 | 59 |
| Major Forex Pairs | Yes | Yes | Yes |
| Minor Forex Pairs | Yes | Yes | Yes |
| Exotic Forex Pairs | Yes | Yes | Yes |
| Cryptocurrencies | Yes | Yes | Yes |
| Total Commodities Available | 0 | 21 | 16 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Total Stocks Available | 0 | 1606 | 99 |
| UK Shares | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes |
3. Trading Apps & Platforms
This broker provides access to MT4 and MT5 trading platforms to enable traders to use their preferred device when trading with ThinkMarkets.
The mobile app is accessible on iOS and Android, and it comes with a user-friendly interface to execute trades on-the-go.
4. Accounts & Funding Methods
ThinkMarkets enables you to execute a minimum trade of 0.01 lot, but this can vary based on your account type. The maximum trade varies based on the instrument and the trader performing the action. This broker also has STP execution, and it can offer some of the most transparent tight spreads among brokers.
ThinkMarkets may have lower entry requirements than an ECN broker, who focuses on a high volume of traders and large capitals.
What we like most about this broker is their claim to have no requotes. This means you shouldn’t worry about trades being ordered at a different cost than what you executed them at.
Margin requirements are variable and depend on the trader, instruments, and accounts.
Here is a list of the trading features, accounts, and funding methods available with ThinkMarkets.
Accounts & Funding Methods
| Trading Features | Accounts | Funding |
|---|---|---|
| Scalping | Demo Account | Credit Card |
| Hedging | Mini Account | Bank Transfer |
| STP Available | Standard Account | Payoneer |
| Low Minimum Deposit | Zero Spread Account | Neteller |
| Cell | Islamic Account | 168 |
Since ASIC and the Financial Conduct Authority regulate ThinkMarkets, new clients must pass some standard compliance verifications to ensure you’re aware of the trading risks. Creating an account with this broker means you’ll verify it by:
- Submitting a scanned color copy of your ID, driver’s license, or passport
- Submitting a bank statement or utility bill from the past three months to verify your address
Besides this, you’ll have to answer a couple of questions to confirm your trading experience. Overall, the account creation process at ThinkMarkets won’t take more than 10 minutes to complete. Keep in mind that you won’t be able to make any trades until your account is verified.
5. Customer Support
This broker’s customer support is available in various languages like Japanese, Chinese, and English.
ThinkMarkets received a AA support rating due to the reliability of this service.
The Bottom Line
ThinkMarkets is one of the leading CFD and forex brokers on the market, with a reliable trading platform and excellent customer service. It has a long track record in the industry, but its range of instruments might be too limited for some traders.