ThinkMarkets Review 2024 Expert Verdict With Info On Fees & Spreads
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Account funding at ThinkMarkets
Forex trading has evolved into one of the most popular markets to trade. Let’s take the most popular currency pair as an example, EUR/USD. The first currency (Euro in this case) is called the base currency and the second (USD) is called the quote currency. When you trade a pair you are speculating on whether the base currency (EUR) will strengthen or weaken against the quote currency (USD).Forex prices are typically quoted to five decimal places. The most important decimal point to keep an eye on is the fourth, also known as pip. It is the number of pips we use to calculate the profit and loss.Forex positions are traded in specific amounts called lots, which equals to 100,000 units of the base currency.
Trustworthy and Excellent Broker.
While minimal, it covers most of the basic requirements you look for in a share trading app, including conditional orders, watchlists, stock alerts and portfolio tracking. The main downside is that it does not include live pricing, even at an extra cost. ThinkMarkets is an online share trading, forex and CFD broker headquartered in London, England with offices located in Melbourne, Australia. The company is still owned and operated by its co-founder Nauman Anees. On the downside, its share trading feature is only available through its mobile app and there’s no live streaming of share prices; instead, the investor will have to click to refresh the price. We use proprietary AI technology to assist in some aspects of our content production.
Trade CFDs on 4,000 financial instruments
I’ve been day trading with ThinkMarkets for about a year and it’s a reliable broker. I did have to deposit $500 for the ThinkZero account though which is pretty steep. ThinkMarkets trading hours follow standard opening and closing times of respective markets. So, for forex and indices, most trading will take place Monday to Friday. Contract specific opening hours can be found on the broker’s website. For beginners, there are free video tutorials and a trading glossary.
Laggy app it takes 10 seconds literally…
It is also possible to trade in smaller amounts – mini, micro and nano lots sizes, corresponding to 10,000, 1,000 and 100 units respectively. Yes, ThinkMarkets make a wide range of markets available including crypto, forex, and commodities. The second step is to select either a live or demo account option. I have been working with different brokers for more than 12 years, currently and without a doubt the best support and execution service has been provided by ThinkMarkets.Jhon Restrepo.
Educational articles on the website and video tutorials on the official YouTube page are designed to address issues plaguing both beginners and experts in this field. Support provided by Lora Llieva of ThinkMarkets was excellent through our communications – thank you Lora. Content and form of the website simple and accessible to all who want to invest. Access all major US and global indices to diversify your portfolio. The application process is quick, fully digitalized, and comprises 3 steps. Some money was not transferred, but TM did everything to get it back, so the problem was finally correctly solved.
ThinkMarkets has relatively low brokerage fees, especially compared to the major banks’ share trading platforms. There are also no subscription, monthly or inactivity fees, so you won’t be charged for an inactive account. Between 74-89% of retail investor accounts lose money when trading CFDs.
In addition to the fee differences between the two accounts mentioned above, it is also worth considering that the ThinkZero account charges a commission only on FX pairs and metals. Hence, it is by far the better choice for those interested in trading other markets because of the raw spreads. However, the one major drawback of the ThinkZero account is that it does not support the ThinkTrader platform. ThinkMarkets was awarded a very high mark in the Tradable Instruments category. The broker offers over 4000 tradable instruments from different asset classes, which are available to retail and professional traders.
- Professional traders will lose negative balance protection and automotive close you when trading account equity falls below 50%.
- Moreover, the broker provides demo trading which is a good way for you to put what you have learned into practice without making any financial commitment.
- If you are a scalper as want to withdrawal the amount within in a 20 minutes.
- ThinkMarkets is suitable for beginners, providing extensive educational resources including videos tailored to both novices and advanced traders.
Bitcoin, Ethereum, Litecoin, and Monero are just a handful of major cryptocurrencies that can be traded on the broker’s platforms (ThinkTrader, MT4, and MT5) using pre-existing accounts. Great company to trade with, withdrawals processed efficiently, also have online chat option for any inquiries. Upgrade your trading knowledge – from basics of the financial markets to advanced trading strategies. Traders will have to verify with their payment provider should there be fees waived with regards to deposits and/or withdrawals.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. You may completely configure your copying strategy on the ZuluTrade platform, including lot size, number of traders, trading hours, and risk management. ZuluTrade carefully screens each trader, employing powerful algorithms and a specialised Trading Desk so that the investor may choose a strategy according to their own individual preferences.
You can drag any area on any chart to see how many pips or points it equates to in real-time. Overall, this is a solid trading platform but I still prefer MetaTrader as it comes with thousands of free and paid add-ons with almost limitless potential. If ThinkMarkets folds, ThinkMarkets customers in certain locations will have insurance up to $/£1,000,000.
ThinkMarkets has a general offering to retail clients and apart from this, numerous investment and partnership programs were also launched by the company. 👉 According to research in South Africa, ThinkMarkets is a London-based premium and multi-asset online brokerage firm that was established https://forexbroker-listing.com/ in 2010. Although its headquarters are based in Australia and the United Kingdom. Initially, ThinkMarkets was introduced in New Zealand as ThinkForex and due to the rapid expansion program along with substantial demand, the brand name ThinkMarkets was taken by the company.
It is always worth checking the swap charges before opening a position because it can save you a lot of money, especially if you are uncertain as to which instrument to trade next. As an example from the above table, if you believe that the EUR is likely to appreciate against the USD and the GBP against the JPY, it will be better to go long the GBPJPY rather than the EURUSD. What is also worth pointing out is that there are no major discrepancies in the recorded spreads between the AM and PM sessions. This is significant because it indicates that ThinkMarkets has access to deep liquidity that is crucial for precise order execution. Even though some of its entities are regulated by weaker offshore regulators (FSA and CIMA), the licenses by CySEC, ASIC, FCA, and JFSA indicate the broker’s high reliability. The company has 7 subsidiaries and is authorized to serve retail and professional traders worldwide.
I do think they could improve by adding some more trading instruments and funding options. Other than that, I wouldn’t have any issue using them for buying and selling various assets. ThinkMarkets is a regulated worldwide online broker that places a high priority on customer protection. They combine cutting-edge online trading technology with powerful trading platforms and tools to help you with your day-to-day trading activity. There is no minimum investment necessary, and clients may enhance their trading abilities and expertise by using the instructional materials supplied. Furthermore, the broker offers a variety of trading products across several asset classes.
ThinkMarkets have an in-house team of experts who deliver the latest market news, daily insights and analysis. They cover detailed technical and fundamental analysis across multiple markets and trading instruments. This can be a great way to help inspire trade ideas and keep you up to speed with what i going on in the markets.
The minimum deposit required to open a ThinkMarkets Account is $0 USD. The live chat responses I received were quick and detailed, plus the person I spoke to over the phone when I signed up was friendly and easy to chat to. Support staff seemed to have a good understanding of the Australian share market and went out of their way to assist. The Good Money Guide is a UK-based guide to global trading, investment and currency accounts. We offer expert reviews, comparison, news, analysis, interviews and guides so you can choose the best provider for your needs. The broker also offers swap-free Islamic accounts for clients from the Muslim faith.
At ThinkMarkets, you can also gain access to 11 futures contracts that cover several underlying instruments like commodities, stock indices or VIX volatility. Depending on the ThinkMarkets subsidiary you are trading with and the financial instrument you are trading, different leverage limits will be available. This is because each ThinkMarkets subsidiary is overseen by a different regulatory body. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.