Think Markets is an Australian online Forex broker owned by TF Global Markets Pty Ltd in South Africa. The company was launched in 2010 and it is now one of the most successful Australian online brokers all over the world. Its headquarters are located in Melbourne, Australia.
Think Markets has a license from the Australian Securities and Investments Commission (ASIC). This fully regulated broker offers some of the tightest spreads and other excellent trading conditions. This Forex broker has already five years of experience in the trading industry. The people from Think Markets understand how important it is to offer a safe and trustworthy experience to their clients. With their policy of transparency and honesty in the broker-client relationship, they have become a very attractive broker for many traders.
Think Markets offers an advanced platform where traders can find the latest innovations in online trading technology and take full advantage of its extended features. Think Markets’ excellent customer support and fast no dealing desk (NDD) is among the best in the online trading industry.
Think Markets’s Trading Platforms
Think Markets offers two trading platforms. The first one is MetaTrader 4. It is known for its stability and excellent user experience. The platform has some unique features like one-click trading, chart trading, signal trading, automated trading, and multi-account management (MAM). With over fifty indicators and over two hundred fifty trading instruments, MetaTrader 4 is the most trustworthy and stable platform all over the world. Despite its outdated graphics and minor flaws, it is still the choice of many brokers and traders. It is suitable for every device and it can be installed on Windows and Mac desktop computers without the use of additional software. There are certain apps for Android and Apple devices that a trader can use anytime and anywhere. The next platform offered by Thinkforex is cTrader. It provides a bit more features than MetaTrader 4 and it has some updated graphics. It has a WebTrader version and it can be used even with a mobile browser. Compared to MetaTrader 4, it offers a Level II market depth but lacks some of the easy access features like trading from signals.
Trading Conditions at Think Markets
Currently, Think Markets offers three types of accounts. The Demo Account is suitable for novice traders who would like to get a taste of the trading game without sacrificing too many funds. The minimum operating balance for this account is $0. The spread type is variable and traders can go as low as 0.8 pips. The maximum leverage is set at 1:500 and there is no commission fee. Think Markets offers 38 currency pairs. Scalping and hedging strategies are allowed and there is a swap-free option. The minimum position option is set to 0.01 pips.
The Standard Account is for people who have been in the trading industry for at least a couple of years and know what they are doing. The minimum account size is $2,000 and spreads can go as low as 0.2 pips. Think Markets’s customers can trade via application programming interface (API). This broker also provides access to browser-based platforms. The maximum leverage is the same but traders need to pay a $6 commission per 1 standard lot. In this trading account, there is an available personal account manager, a free virtual private server (VPS), Autochartist plugins, and direct access to market news.
Lastly, Think Markets offers VIP services which they call “Think Zero Account”. A Think Zero account has all the trading benefits and features supported by Think Markets broker. The minimum account size is $25,000 and spreads can go as low as 0.1 pips. According to its website, the commission in this account is highly negotiable. This account will give traders the “Fix 4.4 API Connections” feature where traders can directly access the PHP code and change its interface.
Funding your Think Markets account
Funding a Think Markets account can be very easy because there are many payment methods a trader can use. Traders can choose from a total of nine banking methods. Transaction times are a bit slow. The fastest time could take up to 30 minutes and an average of 24 hours for the payment to be processed. There is no information on its website regarding deposit fees. Clients might want to double-check on that with the customer representatives. To withdraw money from a Think Markets’s account, a trader must have to fill out a withdrawal form. All withdrawals are processed within 24 hours but there is no information on how long it takes for the money to appear in the bank accounts. There are no withdrawal fees for most methods but if a trader chooses to operate with a credit card, there would be a $5 fee on every transaction.
Conclusion
Think Markets has an excellent customer service and its accounts are currently great value for money with low spreads and low costs. There are plenty of options when it comes to trading platforms and there are a lot of educational materials and tools provided to traders to help them achieve success in no time. Think Markets is truly a trustworthy and reliable online Forex broker.
