Who are ThinkMarkets?
ThinkMarkets are the former ThinkForex who have been in the industry since 2010. They were firstly established in New Zealand but in 2012 they have relocated their offices in Australia in order to get regulated by the Australia Securities and Investment Commission (ASiC). In 2015 ThinkMarkets have also opened offices in London and have been regulated by the Financial Conduct Authority in the United Kingdom under the trading name of TF Global Markets Limited. The company also own a business in Bermuda called Think Capital Limited and it is available to clients that are in eligible locations: this was done to increase their global offering. ThinkMarkets do offer the popular MetaTrader4 (MT4) to his clients. They used to offer ThinkTrader platform which was replaced by Trade Interceptor.OPEN DEMO ACCOUNT >
What are ThinkMarkets’ spreads and fees?
With ThinkMarkets there are 3 accounts that are available to clients. The Standard account is the most popular and it is commission free (spreads only). In order to access this account you would need to deposit at least £250. They also offer ThinkZero account. The commission in this case it is not fixed and can be negotiated on client by client basis. This is a very good options for those active traders or for those who adopt cost-sensitive strategies.
From the analysis we have carried out internally we can say that ThinkMarkets spreads are rather low however the company do not provide an average or typical spread value which makes it impossible to do a fair comparison with other brokers that are featured on TopTradingPlatforms.co.uk.
It would be better if the broker will publish their own average spread data maybe on a monthly basis as this will allow to get a better view of how spreads average out over the month and see how competitive those are against other online brokers we have reviewed.
What are ThinkMarkets Research tools?
One strong point in favour of ThinkMarkets is their research content and tools that are available both in their websites and in within their trading platforms. The company has invested significantly in this field and has a team of analysts that produces multiple daily blog articles about the technical and fundamental news analysis on forex but also on CFD markets. They do also have an economic calendar that is powered by FXStreet.
If you have a ThinkMarkets account with at least £2,000 in balance you can also access premium research content from Reuters News and also the headlines provided by FX Wire Pro. As if this wasn’t enough you will also have available AutoChartist which is a popular pattern-recognition software that will help you identify trading opportunities.
Another interesting research tool is the MT4 Super which is an add-on for the MT4 trading platform developed by FX Blue LLP. This tool provides a number of indicators that traders can use to enhance the default MetaTrader 4 trading platform set up. So all in all ThinkMarkets do offer very good research tools and it is up there with the best online brokers in the industry.
How good is ThinkMarkets platform?
As mentioned ThinkMarkets do provide two platforms to their traders: the popular MT4 (MetaTrader4) and Trade InterceptorSEE THINKMARKETS PLATFORMS >
Can you trade on mobile with ThinkMarkets?
Absolutely yes with the MT4 mobile app. After reviewing extensively their platform we can say that the design and the navigation are really intuitive and user-friendly. Trading and managing orders was really easy and this is surely one of the best mobile platforms currently in the market. They also have an OCO (One-cancels-Other) pending order type which is really useful.
Surely ThinkMarkets have made significant progresses in the last months and the rebranding has increased the number of instruments offered to clients. There is still some way to go in order to reach the depth in offering of some of their competitors tough. A strong point for ThinkMarkets is that they are solidly regulated by the respectables FCA and ASiC. This is an important security point in favour of ThinkMarkerts who segregates all clients funds in tier-1 banks (who are kept separately from the company accounts). Overall we wouldn’t suggest to go for the Standard account as you won’t have free VPS, the AutoChartlist and the account manager: those are some very strong points for ThinkMarkets and will be a pity to take them away. So all in all we certainly believe ThinkMarkets to be a reputable broker and despite they are not yet there with the top ones they are making significant progress and could actually be a good fit for some traders.
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