ThinkMarkets Review: More market tools than you may think

think markets review

Even though the app is not ideal for conducting complex technical analyses because it has to be run on low-resolution devices, a problem that is inherent to most trading apps, it excels in other ways. What we found particularly useful is all the information made readily available before placing an order. As shown below, you can swiftly check such vital information as the pip cost of the trade, estimated margin usage, spread and swap costs, and others. Based on our research throughout the day, we found that ThinkMarkets’ spreads on instruments from different asset classes are mostly low. The only exceptions were crude oil and Bitcoin, which met the industry average. As a partner, ThinkMarkets will grant you access to a library of personalised marketing materials that best match your style.

What is the minimum deposit at ThinkMarkets?

think markets review

In addition to trading stock CFDs, Australians will be able to purchase and invest in any Australian stock of their choice via ThinkMarkets Australia. The broker provides them with access to 3,100+ ASX and Chi-X shares, with a flat fee brokerage of only $8 per trade (provided that the trade value does not exceed $200,000). However, it is worth mentioning that other non-Australian stocks like Apple etcetera are available for CFD trading but not investing. While leverage is useful for traders to maximise gains, trading CFDs and forex is a high-risk investment activity and you should apply leverage with caution. Full contract specifications can be found on the broker’s website. ThinkMarkets offers competitive spreads for both its Standard Account and ThinkZero Account types.

ThinkMarkets Review 2024: Fees, Platforms, Apps, Pros & Cons

think markets review

Traders have to pay swap rates on leveraged overnight positions, and ThinkMarkets does pass on all corporate events impacting equity and index CFDs. After six months of inactivity, https://traderoom.info/think-markets-introduction/ a $30 monthly fee applies, and ThinkMarkets charges an excessive 3.00% currency conversion fee. Select market data fees and third-party payment processor charges also apply.

think markets review

ThinkMarkets’ Customer Support Test

  1. New traders can benefit from the educational content available at ThinkMarkets.
  2. It only offers a smaller range of 46 forex pairs, however, compared to the industry average of 66.
  3. ThinkMarkets has a team of professionals that provide the most recent market news, daily insights, and analysis.
  4. A ThinkZero account unlocks loads of institutional benefits and allows you to trade with minimal or zero spreads between the bid and ask price.
  5. The core pricing environment is competitive, but other costs are notably higher than at many competing brokers.

I have to honestly say that Think Markets is not the company I’ve described below. Yusuf and Rivash’s competent technical skills made it a breeze for me to start with a quick setup and continuous support. Thanks to Dillon with his knowledge and patience I’m learning something new everyday.

ThinkMarkets earns the bulk of its revenues from spreads and commissions, where it maintains a competitive environment. The commission-free mark-up commences from just 0.4 pips, one of the best offers available among all online brokers, while the average is 1.2 pips. Active traders will benefit from raw spreads as low as 0.0 pips with an average of 0.1 pips for a commission of $3.50 per lot or $7.00 per round lot.

When creating an account, the base currencies available are AUD, CHF, EUR, GBP, JPY, CAD, ZAR, SGD, USD, and NZD but this is dependant upon which ThinkMarkets entity your account is opened with. ThinkMarkets operates a “return to source” policy, meaning that withdrawals must be made via the same method and the same account as the original deposit. The account-opening and verification process at ThinkMarkets is fully digital and accounts are ready within 48 hours, which is about the industry average. Yes, ThinkMarkets is a safe broker for UK residents to trade with. It is locally regulated by the FCA, and also maintains regulation from top international authorities, including ASIC in Australia, CySEC in the EU, and the FSA in Seychelles.

The downloadable version of MT4 is the most powerful version, and is needed it you plan on running automated systems. We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

It provides traders with multiple ways to communicate with the help desk so that they can pick whatever they’re most comfortable with. You are free to contact them over the phone, email, or even through a live chat function – all of which promise quick responses. The broker’s lot sizes are customizable with the lowest amount being 0.01 lot. This ensures https://traderoom.info/ that traders even with a small amount of money deposited can start trading. Although there is a standard minimum trading size, the maximum trading size is solely dependent on the margin in the user’s account. ThinkMarkets Australian brokerage services are located in Melbourne and regulated by the Australian Securities and Investments Commission (ASIC).

The advantage is that your objectives are completely aligned with the trader’s goals, and the cost for the copy trade service is clear. On the other hand, ThinkMarkets or its parent company are not publicly traded companies. Therefore, they do not disclose their financial information in public. Plus, the broker does not have a licence to practice banking operations. In addition, the broker does not facilitate traders from a few countries, such as the US. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey.

Users also appreciated the variety in trading platforms this broker offers. I recently traded my demo acc (R2000) using 1 full lot size, with these high spreads and within a few min I received a margin call and that was the end of my trading account. Any trader who trades under these conditions whether seasoned or not will have a very hard time being profitable as a trader. No wonder 90% of traders are unsuccessful trading yet the broker continues to receive his/her commission irrespective. The loser ends up being the trader.Even with money management and risking only 2% of ones account the smaller trader faces a difficult task of being consistently profitable. Overall, ThinkMarkets stands out for its advanced technical analysis tools, competitive spreads, and award-winning 24/7 client support team.

The broker offers two retail account types – Standard and ThinkZero – with different pricing models. ThinkMarkets scored very highly in the Deposit and Withdrawal category. The broker does not charge any handling fees for deposits and withdrawals, though third-party banking fees may apply subject to the selected payment method.

Overall, they explain everything and can be used as a good knowledge base; but the main reason for lack of a star, is that imo the explanations could be a little bit easier. I mean for an amateur one who just got to the field, the explanations were a little bit complicated. ThinkMarkets educational materials are excellent compared to other brokers. ThinkMarkets offers a broader range of tradable assets compared to its competitors.

İlk yorum yapan olun

Bir yanıt bırakın

E-posta hesabınız yayımlanmayacak.


*