For this ThinkMarkets review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 15 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is ThinkMarkets?

ThinkMarkets is an Australia-based forex and contract for difference (CFDs) broker. It was founded in 2010 and was previously known as ThinkForex.

The broker is regulated in multiple jurisdictions, including Australia, the United Kingdom, South Africa, and Seychelles, and has operations globally.

ThinkMarkets’ offerings include trading services with forex, indices, commodities, cryptocurrencies, and shares CFDs.

Some of the highlights of ThinkMarkets are:

🗺️ Authorised & Regulated inUK, Australia, SA, Seychelles
🛡️ Is ThinkMarkets safeYes
💰 EUR/USD Spread1.3
💳 Minimum depositUS$0
💰 Withdrawal feeUS$0
🖥️ Trading PlatformMT4, MT5, ThinkTrader
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products1628 (depends on the jurisdiction)

Licenses and Regulations

ThinkMarkets holds 4 regulatory licenses. 

The broker is licensed in Australia, the United Kingdom, South Africa, and Seychelles. Australia’s ASIC and the UK’s FCA are deemed as two reputed global financial market regulators.

The full list of ThinkMarkets’ licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
TF Global Markets (UK) LimitedUnited KingdomFinancial Conduct Authority (FCA)629628United Kingdom£85,000
TF Global Markets (Aust) LimitedAustraliaAustralian Securities and Investments Commission (ASIC)424700AustraliaNo compensation scheme
TF Global Markets (South Africa) (Pty) Ltd
South Africa
Financial Sector Conduct Authority (FSCA)49835South AfricaNo compensation scheme
TF Global Markets Int LtdSeychellesSeychelles Financial Services Authority (FSA)SD060GlobalNo compensation scheme
ThinkMarkets FSA License Page

Is ThinkMarkets Safe?

Yes, ThinkMarkets is a safe broker

The broker is regulated by two of the most reputed financial markets regulator, the UK’s FCA and Australia’s ASIC. The FCA also offers a compensation scheme of £85,000 to protect clients’ funds. 

For our tests, we opened an MT5 Standard account with TF Global Markets (Aust) Limited, which is regulated by the Australian Securities and Investments Commission (ASIC) in Australia.

We recommend you open an account with the UK or the Australian entity if their services are available in your jurisdiction.

Fees and Commissions

ThinkMarkets’ fees on trades depend on the account type. For Standard account, the fees are built into spreads, but the broker also charges a commission for trades on other account types with none or tight spreads.

Spreads on our forex, indices, and cryptocurrencies trades were much below the average industry benchmark.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Our test is based on ThinkMarkets’ MT5 Standard account. The spreads for our trades with forex, indices, and stocks remained constant throughout, showing signs of fixed spreads.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.31.31.31.3
IndicesFTSE 1000.70.70.70.7
StocksApple3333
CommoditiesGold7.8223.93
CryptocurrenciesBitcoin36.9732.3120.95530.08

Our testing finds that ThinkMarkets spreads on forex, indices, and cryptocurrencies are much lower than the industry benchmark. Spreads on stocks, however, are on the higher side.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.31.6
IndicesFTSE 1000.71.5
StocksApple31.5
CommoditiesGold3.933.8
CryptocurrenciesBitcoin30.0845

Other Fees

ThinkMarkets does not have any noticeable non-trading fees. The broker offers free deposits and withdrawals. Additionally, there is no account maintenance or inactivity fees.

Account Types

ThinkMarkets offers two straight-forward account types: Standard account and ThinkZero account.

Details of the two ThinkMarkets accounts are:

Standard AccountThinkZero Account
Trading PlatformsMetaTrader 4, MetaTrader 5, ThinkTraderMetaTrader 4, MetaTrader 5, ThinkTrader
Account CurrencyAUD, EUR, CHF, GBP, USD, JPYAUD, EUR, CHF, GBP, USD, JPY
Minimum deposit$0$500
CommissionNil$3.5 per side (100,000)
(No commission on CFDs)
Lot size1.0 (100k)1.0 (100k)
Maximum tradeable size50 Lots100 Lots
( 10 for XAUUSDx & XAGUSDx)
Order executionMarket ExecutionMarket Execution
SpreadFrom 0.4From 0

ThinkMarkets also offers swap-free Islamic accounts and joint accounts.

Account Opening

Our overall experience of opening a new account with ThinkMarkets was smooth and quick.

We opened a MetaTrader 5 Standard account for our tests under the ASIC-regulated entity.

The process of registration of a new ThinkMarkets account:

  1. Enter trading account type (individual or corporate), country of residence, products to trade (shares or forex and CFDs), first name, last name, email, and password.
  2. Enter the verification code sent to the provided email.
  3. Provide personal details like phone number, date of birth, taxation country, and address.
  4. Choose the desired trading platform.
  5. Provide financial details like employment status, annual income, and value of savings and investments.
  6. Answer questionnaires on trading experience.

We submitted the following documents to verify our ThinkMarkets account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 6 minutesOur account was verified in 1 working day.

Our account was registered on March 26, 2021, and approved on March 29, 2021.

Our overall account opening experience was smooth and without any issues, from registration to verification.

ThinkMarkets Account Opening

Deposit and Withdrawal

Both deposits and withdrawals on ThinkMarkets are easy and fast. All our funding and withdrawal requests were completed without any issues.

Minimum Deposit

The minimum deposit on ThinkMarkets varies with the account types.

  • Standard account: $0
  • ThinkZero account: $500

Traders only need to maintain the minimum deposit balance on their accounts.

Deposit

ThinkMarkets supports deposits with bank transferscredit and debit cards, and online wallets like PayPal, Neteller, and Skrill. The broker also supports cryptocurrency deposits with Bitcoin, Ether, and Bitcoin Cash, using BitPay gateway.

The broker does not charge any fees for deposits.

Some of the deposit methods also vary with the jurisdiction.

We tested the deposit process on ThinkMarkets using a credit card and PayPal.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2021-03-292021-03-29Instantzero
PayPal2021-03-292021-03-29Instantzero
ThinkMarkets Deposit Methods

Withdrawal

ThinkMarkets allows withdrawals via bank transfer, credit/debit card, and online wallets. There are no fees for withdrawal requests.

ThinkMarkets allows withdrawals only to the deposit source, meaning if deposits were made using PayPal, withdrawals (along with profits) can only be made on PayPal.

Overall, our experience with the ThinkMarkets withdrawal process was positive.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2021-03-302021-03-312021-03-311 working dayzero
PayPal2021-03-312021-03-312021-03-311 hourzero

Our first withdrawal request using PayPal, which was made on March 29, was denied. We were told to withdraw the fund to the credit card first as our first deposit was made using a credit card.

Markets and Products

ThinkMarkets offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments. The broker also offers stock trading with physical delivery in Australia.

The complete list of ThinkMarkets offerings are:

MarketsInstruments
Forex40
Indices22
Stocks and ETFs1552
Commodities10
Cryptocurrency4

The markets and the number of offered instruments will depend on the account jurisdiction.

Trading Conditions

ThinkMarkets offers excellent trading conditions. The broker allows both hedging and scalping strategies and traders can change leverage levels too.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes

Leverage

Leverages offered by ThinkMarkets on various asset class are detailed below:

MarketsTF Global Markets (UK) LimitedTF Global Markets (Aust) LimitedTF Global Markets Int LtdTF Global Markets (South Africa) (Pty) Ltd
Major Currency Pairs30:130:1500:1500:1
Non-Major Currency Pairs20:120:1500:1500:1
Gold20:120:1400:1400:1
Other Commodities (except Gold)10:110:1200:1400:1
Indices5:120:1200:1200:1
Stocks5:15:1100:120:1
CryptocurrenciesNA2:110:110:1

Copy Trading

ThinkMarkets offers copy trading services with ZuluTrade, which is a third-party platform.

Copy trading services are not available for traders under the Australian and South African entities.

ThinkMarkts Copy Trading

Trading Platform

ThinkMarkets offers the following trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • ThinkTrader (ThinkMarkets’ proprietary platform)

MetaTrader 4 and MetaTrader 5 are third-party trading platforms developed by MetaQuotes Software.

All these platforms are available on the web, desktop, and mobile.

ThinkMarkets Trading Platforms

Research and Tools

ThinkMarkets offers good market research and analysis tools.

Some of the key tools offered by the broker are: 

  • Good charting tools
  • Economic calendar
  • Forex signals through Autochrist
  • VPS for forex trading
  • Market research with Trading Central’s suite
  • Newsfeed
ThinkMarkets Market Research Tools

Education

ThinkMarkets offers good educational resources. Its guides cover from trading basics to details on indicators and charting patterns.

The broker also offers a trading glossary and a knowledge base. It also holds some excellent webinars and a demo account.

ThinkMarkets Webinars

Customer Service

ThinkMarkets has excellent customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available 24/7.

Our experience with ThinkMarkets customer support was excellent.

The support staff on live chat answered instantly, while the email response took a day. The answers were clear and accurate in both cases.

QuestionResponse TimeQuality of reply
Live ChatAsked about the base currency of the Australian entity1 minuteClear and accurate
EmailAsked about withdrawal fee and minimum deposits1 working dayClear and accurate
ThinkMarkets Live Chat Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with ThinkMarkets was good.

The broker offers a decent number of currency pairs, with forex spreads below the average industry benchmark. Spreads remained stable for all our trades, and executions were fast. The broker also offers share trading in Australia, which is excellent.

Our experience with account opening, deposits, and withdrawals were also smooth and without any issues.

The customer support is also excellent, but we recommend you approach the support team over live chat.

We recommend ThinkMarkets to forex traders who run strategies like scalping and hedging.


Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.

I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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