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Thinkmarkets.com Review 2023 – Crypto Trading on ThinkMarkets
- Regulated and highly secure
- Beginners-friendly with demo accounts
- $1 Million funds insurance
- 3 trading platforms
- Already popular in UK/Australia
- No minimum deposit
- Various cryptocurrencies supported
- More products could be available
- Low crypto leverage
Winner of Various Awards
ThinkMarkets is a renowned and even award-winning broker based in the financial metropolis of London. The trading offer includes foreign exchange as well as CFDs on Indices, Shares & ETFs, Futures, Commodities, Metals and Cryptocurrencies. In 2021, ThinkMarkets was awarded as ‘Best Forex Trading Platform’ in Africa at the Global Forex Awards. In addition, the broker has won ‘Best CFD Provider’ at the 2021 COLWMA awards.
The broker is regulated by several prestigious regulatory bodies, including the FCA in the UK and ASIC in Australia. For customers residing in certain jurisdictions, the broker also offers insurance up to £1,000,000 in the event of bankruptcy. ThinkMarkets was elected Best Value Broker in Asia at the 2020 Global Forex Awards. 2017 the experienced CFD trading broker was even elected “Best Forex Trading Innovation” & “Best Forex Trading Experience” by the UK Forex Awards as you can find on their website.
In addition to the popular MetaTrader 4 and next-generation MT5, an in-house platform called ThinkTrader is also available for trading.
The most important facts about Forex and CFD Broker ThinkMarkets:
- London-based Forex and CFD Broker
- Regulation by British, Australian, Seychelles, European, Japanese and South African financial regulators
- Narrow spreads starting at 0.1 pips
- No minimum deposit
- Trading Platforms: MetaTrader 4, MetaTrader 5 and ThinkTrader
- Strong as cryptocurrency broker
- Cryptocurrency deposits & withdrawals
- 24/7 Crypto Trading
ThinkMarkets offers a broad range of trading assets to its customers. In particular, the broker’s product portfolio offers more than 3,500 CFDs on Forex, Indices, Shares & ETFs, Commodities, Cryptocurrencies and Futures.
According to our ThinkMarkets experience, the broker offers an extensive number of currencies. In particular, the firm offers 46 currency pairs, and the selection is highly appealing. In addition to the well-known majors such as USD, EUR & GBP, there are also minor and exotic currencies available such as the New Zealand Dollar and the Norwegian Krone.
CFDs on various indices are added to the trading offering. ThinkMarkets offers 23 indices, including:
- Dow Jones
- FTSE (UK)
- S&P 500
With commodities, the trading platform offers a third category of underlyings. The selection here is also not too extensive. Commodity traders will find gold, silver, copper, oil, platinum and natural gas here. ThinkMarkets clients can also trade Futures CFDs such as Coffee and Cotton.
But let’s come to the point which is most important to us: Cryptocurrency trading on ThinkMarkets. Clients can trade 27 different crypto coins in the form of Contracts for Difference. Some of the cryptocurrencies you can trade on ThinkMarkets.com against the US Dollar include:
- Bitcoin | BTC/USD
- Ripple | XRP/USD
- Ethereum | ETH/USD
- Litecoin | LTC/USD
- Bitcoin Cash | BCH/USD
- Cardano | ADA/USD
- Dogecoin | DOGE/USD
- Stellar | XKL/USD
- Shiba Inu | SHIB/USD
- Basic Attention Token | BAT/USD
- Dash | DASH/USD
- Solana | SOL/USD
- Polkadot | DOT/USD
- EOS | EOS/USD
- Chainlink | LINK/USD
- ZCash | ZEC/USD
- Tezos | XTZ/USD
- Monero | XMR/USD
- Polygon | MATIC/USD
- Uniswap | UNI/USD
- OmiseGO | OMG/USD
- Decentraland | MANA/USD
- The Sandbox | SAND/USD
- Cosmos | ATOM/USD
- Algorand | ALGO/USD
- Avalanche | AVAX/USD
- Binance Bitcoin | BNB/USD
The international Forex broker even allows cryptocurrency deposits – a feature that is not yet a standard among Forex brokers. ThinkMarkets allows crypto deposits in BTC, USDT, USDC, ETH, XLM, EOS, BTC Cash, LTC, DASH and XRP from virtually any Cryptocurrency exchange.
Regarding fiat money, deposits can be made via Credit Card, Debit Card, Skrill, Neteller and Bank Wire Transfer.
With regulated traditional brokers, leverage for crypto trades is always strictly capped, the exact hight or availability of any leverage may depend on the region users come from. So the Maximum Leverage for Cryptocurrency trading is 1:2 for traders who signed up for ThinkMarkets under ASIC (Australia) and ESMA (Europe) regulation. Under FSA (Seychelles) and FSCA (South Africa) regulation other leverage values apply.
Thinkmarkets Review – Experience With Their Trading Conditions
As far as the conditions are concerned, the ThinkMarkets experience is overall definitely positive. There are generally no costs for opening and maintaining a trading account, which is the rule with Forex brokers. When trading on the Standard account, the broker waives commissions, only the spread is incurred.
However, when trading on the ThinkZero account, there is a commission of £3.5 per side.
In cryptocurrency trading, spreads are especially low with ThinkMarkets.com, with Ethereum CFDs (ETHUSD) spread is only 1.5, with Ripple trading (XRPUSD) we see 0.005. Bitcoin against the Dollar (BTCUSD) has only 10 USD of spread.
In Forex trading, traders benefit from tight spreads from 0.1 pips. These are primarily used for major currency pairs such as EUR/USD. In the case of exotics, on the other hand, spreads are much higher, which is normal in Forex trading. According to our ThinkMarkets experience, the broker is also absolutely competitive in this area.
Commodity traders can also look forward to favorable conditions. The price range here already starts at 0.03 points. When trading commodities, the conditions always depend on the underlying and the trading time. The same applies to the indices that can generally be traded from 0.25 pips on thin markets.
Thinkmarkets Review – 3 Trading Platforms Available
MetaTrader 4 & MetaTrader 5
For experienced traders who have already traded Forex, the MetaTrader trading platform should be nothing new. After all, it is the clear market leader in Forex and CFD trading, which is offered by almost all brokers. The MetaTrader enables comprehensive technical analysis based on numerous indicators and charts. With the help of Expert Advisors, automated trading systems can be set up.
ThinkMarkets provides clients access to the MetaTrader 4 trading platform. The platform has an incredibly comprehensive charting package with over 100 indicators included. FX Wire Pro, a feature of MT4, gives users access to real-time news. Virtual Private Server (VPS) are available to ThinkMarkets customers who utilize MT4. This makes it simple and efficient for traders to access and control their automated trading systems.
Clients of ThinkMarkets also get access to the latest MetaTrader 5 platform, which comes with many features and a comprehensive set o f technical analysis tools.
The MT5 offers more options to traders compared to MetaTrader 4. For instance, it has 21 timeframes compared to MT4’s nine, allowing traders to do in-depth market analysis. In addition, MetaTrader 5 provides two more pending orders: a buy stop-limit order and a sell stop-limit order, allowing for a more customized trading experience. The built-in economic calendar, as well as the option to fill partial orders, are just a few of the attributes of MetaTrader’s latest release.
With the ThinkTrader, the broker offers another powerful trading platform. Positions can also be placed directly from the chart. The usual order additions such as stop loss, limit or take profit can be added directly. Users have access to more than 125 indicators, 50 drawing tools, up to 10 watchlists, an economic calendar and many more features.
The broker’s propretary platform is available for desktop computers, tablets as well as mobile devices.
ThinkMarkets Mobile Trading App
Mobile trading is now standard for all brokers. ThinkMarkets are no exception. The smartphone can be used to call up securities account balances, analyze prices and open positions. According to our ThinkMarkets experience, a mobile version is available for both the MetaTrader programs and the ThinkTrader. The applications can be downloaded free of charge for Apple and Android.
Some of the most important features of the mobile applications are:
- 1-click trading
- Wide range of charting tools
- Define values with a simple thumb movement
- Comprehensive technical indicators for chart analysis
- Live streaming
Only a few technical indicators, which are difficult to display in the mobile version, have to be omitted.
Regulation and Deposit Protection
As far as security is concerned, our ThinkMarkets.com experience is absolutely positive. Behind the broker is London-based TF Global Market, based in London. The British Financial Conduct Authority (FCA) is therefore responsible for monitoring and regulation. This already ensures a high degree of security. In addition, the broker operates another company headquarters in Melbourne. This is why they are also regulated by the Australian financial authorities. Furthermore, the online CFD broker is regulated by the South African Financial Sector Conduct Authority as well as by the Seychelles Financial Services Authority.
ThinkMarkets is also a holder of the Cyprus Securities & Exchange Commission (CySEC) license for clients trading under the group’s European entity. Finally, the firm also enables Japanese clients to trade on ThinkMarkets through Japan’s Financial Services Agency (JFSA).
ThinkMarkets is a member of three security funds to protect clients’ funds:
- FSCS: The British government’s Deposit Protection Fund is binding for both banks and financial service providers. Private customers residing in the UK may be covered by this with an amount of up to GBP 85,000. The fund takes effect if the broker is unable to repay customer deposits due to insolvency. However, this case is very unlikely.
- Additional protection: For the majority of private traders, the state fund should already be sufficient. In the case of higher deposits, the ThinkMarkets offers a further protection fund. Voluntary protection protects customer deposits of up to one million pounds.
- ICF: ThinkMarkets clients can claim up to €20,000 through the Investor Compensation Fund. The ICF is a compensation fund for European customers of authorized financial services companies. Similar to the FSCS, the fund will only act in the event of the broker’s bankruptcy
The fact that no negative ThinkMarkets experiences are available so far also speaks for the seriousness. On the contrary, the broker has already received several awards. For example, ThinkMarkets received the “Best Forex” award for the company’s expert financial analyses. In the Blog on the web page analyses and financial messages are made available almost daily.
ThinkMarkets Review – Customer Support
Customers can either use the live chat window on the website or even call the hotline for free. During the trading week, the broker’s multilingual support team is available around the clock. Alternatively, inquiries can also be made by e-mail at any time.
As far as the quality of support is concerned, our ThinkMarkets experience is very positive. The employees are both friendly and competent. All questions are answered in great detail. In the case of written enquiries, an answer is often available after just a few hours.
Diverse Training Opportunities
If you want to trade successfully in the long term, you should continue your education regularly. ThinkMarkets supports its customers with different learning offers:
- Written advice: For most trading topics, comprehensive information can be found on the website. Among other things, these provide an introduction to trading and introduce the various trading platforms. In particular a risers can profit from this information.
- Videos: With videos the whole becomes still somewhat more descriptive. In the education sector, for example, there are video tutorials on technical analysis and a large number of other topics.
- Webinars: Webinars are also part of the educational offer. However, according to ThinkMarket’s experience, the offer has declined somewhat recently. Customers can find all dates on the website and register here free of charge.
Overall, ThinkMarkets’ educational offerings exceed those of many competitors. A view is worthwhile itself both for a risers and professional Trader.
Fast Account Opening
According to our ThinkMarkets experience, the opening of a trading account is done within a few minutes. Just fill out the online form on the website. The data is then legitimized by uploading an identification copy and a proof of residence.
As soon as the registration is completed, a first deposit can be made to the trading account. The Broker accepts various means of payments including:
- Crypto wallet
- Bank transfer
- credit card
Bank transfers can take between one and three working days. With the other payment methods, the money is available on the trading account within 24 hours. With exception of Bitcoin, which is usually available after couple of minutes when the network confirms the transaction on the blockchain.
Thinkmarkets.com Free Demo Account
If you don’t want to invest your real money in ThinkMarkets right away, you can start with a free demo account which includes £25,000 in virtual funds. According to our ThinkMarkets experience, the ThinkTrader test account is available for an unlimited period of time. So even experienced traders have the possibility to test new strategies in advance with the demo account.
Fortunately, the broker provides all functions for his demo account. Users can also access a real trading environment with real prices. This is a prerequisite for realistic trading.
Conclusion on ThinkMarkets
In conclusion, ThinkMarkets is a serious and reliable broker. The provider scores particularly well with its favorable conditions and first-class customer service. However, there is still a certain potential for improvement in the trading bid. There is nothing wrong with the trading platforms. In addition to the classic MetaTrader platforms and the in-house platform ThinkTrader is also fully convincing. If you are looking for a reliable CFD and Forex broker, ThinkMarkets is the right place for you.