Broker Review Contents
ThinkMarkets Review
ThinkMarkets is a provider of forex and CFD trading services. Traders can access a wide range of products in a variety of markets, including currencies, stocks, cryptocurrencies, indices, and commodities.
Pros
- Segregates client funds
- Established in 2010
- Regulated by FCA, FSCA and ASIC
- Min. deposit from $0
Cons
- Limited range of instruments
A minimum deposit of $0 is required for a live account. ThinkMarkets, on the other hand, provides a free demo account that you may utilize to experiment and familiarize yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 629628), ASIC (AFSL #424700), and FSCA (FSP No 49835). All ThinkMarkets client funds are held in a segregated bank account and they work with tier-1 banks. ThinkMarkets was established in 2010 and their head office is in Australia.
Before we get into the specifics of ThinkMarkets’s spreads, fees, platforms, and trading tools, you might want to open the ThinkMarkets website in a new tab by clicking the button below to get the most up-to-date information directly from the company.
Disclosure: If you sign up with a broker through one of our links, we may receive a commission.
What are ThinkMarkets’s spreads & fees?
ThinkMarkets, like most brokers, charges a fee based on the spread, or the difference between the bid and ask price of an instrument.
The commissions and minimum spreads shown here are taken from ThinkMarkets’s website.
| Forex | ThinkMarkets | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 0.0 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 0 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 0 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 0 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 0.0 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 0.0 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 0.0 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 0.0 pips | 0.5 pips | 0.1 pips |
The spreads are variable and are displayed for information purposes.
As you can see, ThinkMarkets’s minimum EUR/USD spread is 0.0 pips, which is low when compared to the average EUR/USD spread of 0.70 pips.
Keep in mind that the zero spreads are only present on the ThinkZero account. There is a commission of 7USD per lot round trip. Standard account has 0 commission but higher spreads.
The table below compares the costs of trading one lot of EUR/USD with ThinkMarkets vs. similar brokers.
How much does ThinkMarkets charge to trade 1 lot of EUR/USD?
You would likely spend $9.37 if you bought one standard lot of EUR/USD (100k units) with ThinkMarkets at an exchange rate of 1.1719 and then sold it the next day at the same rate.Here’s a quick rundown of the fees and how they compare to IG and XTB.
| ThinkMarkets | IG | XTB | |
| Spread from: | $ 0.00 | $ 6.00 | $ 2.00 |
| Commission: | $7 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 7.00 | $ 6.00 | $ 2.00 |
| $1 less | $5 less | ||
| VISIT ThinkMarkets | VISIT IG | VISIT XTB |
Fees and quotes are displayed for information purposes and could change.
What can you trade with ThinkMarkets?
Over 1500 different instruments, including over 40 currency pairs, are available to trade at ThinkMarkets. Below, we’ve summarized all of ThinkMarkets’s several types of instruments, as well as the instruments given by IG and XTB for comparison.
| FX / Currencies | ThinkMarkets | IG | XTB |
| # of forex pairs offered | 46 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | Yes | Yes | Yes |
| Commodity CFDs | ThinkMarkets | IG | XTB |
| # of commodities offered | 9 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | ThinkMarkets | IG | XTB |
| # of stocks offered | 1533 | 8000 | 1606 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| SEE ThinkMarkets’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the ThinkMarkets trading experience like?
1) Platforms and apps
ThinkMarkets is one of the few brokers that provides both the MT4 and MT5 MetaTrader platforms. You may read our MT4 versus MT5 comparison to see how the two platforms compare.
They also offer ThinkTrader platform which is unique to them. Traders can trade on their preferred device thanks to a combination of downloadable programs for Mac and Windows.
ThinkMarkets offers Android and iOS mobile apps, making it easy to keep track of and execute deals while on the go.
Still not sure?
Open a demo account and learn how to trade.
2) Executing Trades
You can trade as little as 0.01 Lot with ThinkMarkets. Depending on the account you open, this may differ. Maximum trade size depends on the account type. You can expect tighter spreads and more transparency over the amount you pay to execute your trades because ThinkMarkets offers STP execution.
ThinkMarkets, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from the bigger number of trades and often has higher capital and minimum trading requirements.
Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and zero commission trading.
ThinkMarkets is one of the few brokers who claim to have no requotes, which means you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
Margin requirements vary by trader, account, and instrument, as they do with most brokers. On their website, you may see the most recent margin and leverage details.
We have included a list of some of the most common funding options that ThinkMarkets provides to its traders.
Trading Features:
- Offers STP
- Low min deposit
Accounts offered:
- Demo account
- Zero account
- Standard account
- Islamic account
Funding methods:
- Credit cards
- Bank Transfer
- Skrill
- Neteller
3) Client support
ThinkMarkets offers support in many languages like English, Chinese, and Japanese.
4) What you’ll need to open an account with ThinkMarkets
Because ThinkMarkets is regulated by Financial Conduct Authority, FSCA and ASIC, every new client must pass a few simple compliance tests to confirm that you are aware of the risks associated with trading and that you are permitted to trade. You’ll probably be asked for the following information when you register an account:
- a color copy of your passport, driver’s license, or other government-issued identification
- a three-month utility bill, bank or credit card statement that shows your current address
You’ll also need to answer a few questions regarding your trading experience, so set aside at least 10 minutes to finish the account opening procedure.
You may be able to explore ThinkMarkets’s platform right away, but you will not be allowed to make any transactions until you pass verification, which depending on the circumstances could take from a few hours up to a few days.
To begin the onboarding process with ThinkMarkets, you can go to their website.
