Mohamed Ali Rasheed...you are very correct. I tried to open an account with them and in the terms and conditions only their Bermuda entity is mentioned and if you agree to the terms and conditions to open the account, it implies one has indeed entered into an agreement or agreed to the terms and conditions of their Bermuda entity. So, I did not go ahead and submit my application. Guess what, I get a phone call from one of the customer service representatives from Thinkmarkets asking if I am facing any difficulty in submitting my application. When I explained that I prefer to open an account with their UK entity that is regulated by FCA, she suggests I go ahead and submit my application and that they would change my account to their FCA regulated entity. How will we know for sure if they have done it. This is definitely not transparent and professional on the part of Thinkmarkets doing such shady practices. The moment I submit my application, it implies I have agreed to the terms and conditions of their Bermuda regulated entity and they will hold this as proof in case if they have to use it against their clients and escape any actions or penalties from the FCA regulator. I will definitely stay away from this broker. Its a pity because they have some great trading conditions and their trade interceptor platform is amazing.They have stolen my involvement, they increase the speard in rollover time which lead to margin out my account.
I try to sent many emails to them without any care from there side they don't reply and just sent that it is normal.
I try to complain against them at AFCA as they state in there website that they are certified from AFCA
And after four months they reply that your contract doesn't give you any rights to complain against them at AFCA or FCA.
And I lost my investment.
Think market big scam