ThinkMarkets, formerly known as ThinkForex is an Australia based Forex trading platform. Since its inception in the year 2010, this platform expanded to be one of the leading providers of FX trading and additional financial services. Thinkmarkets is regulated by ASIC Australia and FCA UK and it lets you trade some of the major economies with indices. The platform had also acquired a trade interceptor as the world’s most popular trading analysis’ application. Right now, it boasts a massive user-base of more than 550,000 traders. Owing to this extensive popularity and user-oriented services, Thinkmarkets has won several awards including the UK Forex Award (2017) and the Forex Best Award (2014). The platform is best known for its tight spreads, quick order execution, wide range of products (and trading options), training guides and highly-focused customer service.
Currently, ThinkMarkets offers three different accounts- The Standard, Pro and VIP. These can either be used on the MT4/ cTrader platforms or be established as an individual, corporate or joint account. Interestingly, unlike no other trading platform, Thinkmarkets also comes with an additional account for superannuated individuals. While the standard, superannuation and joint accounts can be opened with a deposit of $250 (no commissions involved), the Pro account can be opened with $2000 with a small commission of 3 units. The VIP account, on the other hand, can be opened with a deposit of $25000 t. There is no pre-fixed commission for this account and you can always negotiate about the final commission rates with the company.
While the minimum lot size for the Pro and standard accounts are 0.1, the size is 0.10 for the VIp accounts. The accounts here are completely secure and come with tight spreads, NDD (no dealing desk) execution and strict policies against price manipulation. They also have a partnership with Equinix, a globally acknowledged technical firm for handling and managing their data centers.
In addition to the features, the platform also assigns Autocharitist for handling the PRO and VIP accounts. Individuals holding these accounts get the added facility from an account manager for guiding and handling their trades.
For standard accounts, the Forex spread is 0.8 pips, spread for trading metals is 20 cents and CFD s is 1 point. For the pro account, the Forex spread is 0.0 pips, spread for trading metals is 10 cents and CFDs is 0.05 points. Ike the Pro account, for the VIP accounts too, the Forex spread is 0.0 pips, spread for trading metals is 10 cents and CFDs is 0.05 points.
Deposit and Withdrawal options
ThinkMarkets comes with a wide range of simple and hassle free methods for you to deposit an amount to your trading accounts. These include wired transfers, transfers via credit and debit cards and transfers via Neteller, Paypal and Skrill. Recently, they’ve also added bitpay as a mode of adding your deposits via bitcoin. Each of these accounts are managed via the stringent security system of ThinkPortal that lets traders log in and check all the information about their relevant accounts.
Just like your deposits, withdrawing funds from this platform is equally simple and easy. If you send a withdrawal request before 13:00 hours AEST, the request will be processed on the very day. If the request is sent after the given timeline, it will be acted within the following 24 hours.
Advantages of using this platform
Tight Spreads- ThinkMarkets provides the tightest possible spread to its users. These spreads are unaffected even in the most volatile market conditions. Like we already mentioned, the lowest Forex Spread starts at 0.0 pips.
Reliable order execution- The platform is backed by the data management services of the leading Technical firm, Equinix. Owing to their support, your institutional orders are executed in a fast and secure manner.
Technically advanced platforms- The Trading Interceptor and MetaTrader 4, the in-house platforms of ThinkMarkets’, covers all your trading requirements, irrespective of their nature.
Wide range of products- Right now, this leading global trading platform lets you access as many as 38 of the most wide-traded forex pairs, regular commodities, global indices and energies.
Access to trading guides- Yes! Unlike any other trading platform, ThinkMarkets let you access its wide range of Webinars and trading guides that cover everything from technical insights to fundamental analysis about the psychology of the market.
24X7 customer Support- This platform also comes with a multi-lingual client team, who will address your queries, clarify your doubts and simplify the process of trading, every time you get in touch with them.
On a concluding note
Considering the features and the benefits this platform has to offer, we would definitely recommend this to everyone who is looking to trade in Forex.