ThinkMarkets Review

3.235 • 180 REVIEWS
Formerly ThinkForex.com
Updated: Sep 20, 2022
ThinkMarkets.com

ThinkMarkets is a forex broker offering MT4, MT5, and ThinkTrader currency trading platforms. ThinkMarkets.com, offers over 40 currency pairs, cryptocurrencies, gold, silver, shares, indices, commodities, and CFDs for your personal investment and trading options.

Please read ThinkMarkets reviews below and share your live trading experience.

3.235 • 180 REVIEWS

Traders Reviews

A
BAUCHI, Nigeria,
Sep 13, 2022,
Registered user

He scam me

Service use: Live Length of use: 0-3 Months
I deposited my first deposit to this broker on 24 August 2022 and later on 8 September he just withdraw 98 usd from my balance
C
Dubai, United Arab Emirates,
Sep 10, 2022,
Registered user

They will fleece you with arbitrary fees.

Service use: Live Length of use: over 1 Year
I have been trading for 15 years now and make good money from it. I have been using Thinkmarkets for several years now. My last dealings with them has left me with a sour taste in my mouth. I feel it important to let all traders out the know they should stay away from these guys. I write very few reviews, so pay attention.

They are running a terrible deposit/withdrawal fee scam. They state on their website and in correspondence to me that they do not charge fees. Well, they just charged me a whopping 5.2% deposit fee when I did my last withdrawal. The will tell you that it is in the terms and conditions that they can do this - and it is, so be afraid. When queried, they refused to provide any reason for the charges, which makes it totally arbitrary. I traded a significant number of lots and made significant profits. There is simply no justifiable reason for the charges but they charged me anyway.

Be very careful when dealing with a company like this. Normally when a company starts fleecing clients, it is a sign of financial trouble on the horizon. You have been warned.
L
Huckelhoven, Germany,
Aug 9, 2022,
Registered user

New still

Service use: Live Length of use: 0-3 Months
I am still new with thinkmarkets around two weeks and i did deposit which is instant and i did two withdrawals which i got in 12 hours with credit card....so i like so far everything only one thing is the android app is little laggy or slow or late price update..i dont understand but yea need to improve...rest i ll update once i ll withdraw some profit ..
T
Johannesburg, South Africa,
May 16, 2022,
Registered user

Scam/Bizarre experience

Service use: Other Length of use: over 1 Year
I traded on this platform for about 2 years, and gathered evidences sufficient to convince me this ThinkMarkets is a scam and may be deliberately involved in trade manipulations.
Trade activities are coordinated on the cellular and tablet apps, I used the iOS app and it had various app bugs. Also, the account sometimes logged out in trade sessions while positions were open, causing you to miss a TP or close a position gathering losses. I also experienced an abnormal position closure which I summarized below:
On Friday May 13 2022, I opened a Buy position for the US30 Index at USD31,950.60 before the US market closed, the profit was USD1117 thereabout on Friday at the time the market closed. I left the position open going into the weekend, as it was trading in profits. By 23:10 Sunday, I received an alert from the app that the same position was opened again. Well, same position that I opened already on Friday, getting re-opened for the same amount on Sunday before midnight. Abnormal! About 6 hours later, I received alerts in the early hours of the morning on Monday, at 05:21, the account that had some USD1117 profits was trading in liquidation, and a simultaneous alert the US30 position has been closed for a final profit of USD2.79 at USD31,961.25. This happened while the US market was still closed, off-trading hours. The Market opens at 09:30 ET. I compared the closing data on other Financial platforms, CNBC, Delta and Wall Street Journal. The rates did not match on some platforms, while CNBC reported the Market was still closed at that hour. There just was no reason why the position would have closed at USD2.79 profits. What else would be the cause: Scam behaviours or trade manipulations. All trade records available. Beware. Even a Licensed Broker can be involved in Brokerage scams.
K
Melbourne, Australia,
Apr 19, 2022,
Registered user

ThinkMarkets WILL STEAL YOUR MONEY!!!

Service use: Live Length of use: 6-12 Months
Hi Traders,
I just want to raise awareness and caution you from using Thinkmarkets as your trading broker!
The story starts back in June 2020 when we started our trading using an automated robot (EA) and our trading capital was 300,000 AUD. First 3 months were running good and fantastic, and we were averaging no less than 5%+ return weekly, some weeks we did 10%+.
Thinkmarkets advised us to use their demo accounts to test our EA before trading in the live market, they said that the DEMO runs exactly like the live accounts – so we went ahead and created 40+ demo accounts and we tested the crap out of our EA with many different settings and basically nearly all the pairs and commodities that were available. However, Thinkmarkets failed to tell us that DEMO accounts run on a completely different servers than the live accounts and therefore the pair prices are VERY DIFFERENT!! – so basically 6 months of testing demos was horribly useless!!!
By the way, as our trading was through an EA and live 24/7…we had 3 VPSs running that were basically the best you can get in market…. we were spending roughly about 250 USD monthly + another few bucks for extra speed & memory. We had them to accommodate for the demo testing and also for the live accounts. We went the extra mile to base our VPSs in the same country Thinkmarkets have their servers at which is the UK.
Thinkmarkets claim that they execute trades ultra-fast!!! – we have more than 1000 trades that were delayed by 10 seconds or more (some trades by minutes!!!!). Our EA trades on the hour every hour, normally you may see a second delay which is acceptable, but we have 1000+ trades that are more than 10 seconds+ delayed!!!! – we believe these trades were never actually executed in real live market and they were kept in house!!!!
Thinkmarkets without any notification or any communication (Mind you we were on the phone with them daily!) halved our leverage!!! Which obviously affected all our trading. When we raised the issue with them – we got ‘Sorry’ and we have been told that it was done by their partner in the US!!!. When we pushed the matter with our account Manager, he said that they ‘Individually assessed’ our trading and they were happy for us to go back to the normal leverage we started with as we trade safely and with minimum risks! – Everything changed since that day in December 2020.
Long story short, we ended up loosing everything in Feb 2021 because of all the issues mentioned above and also there are other smaller issues like, server not responding, we get logged out for10-20 mins then back in which puts the EA in limbo, misleading information provided by everyone in the Company from the account manager to the complaints department!!
So, we do the right thing, and we contact Their complaints department with all our findings, and we challenge what happened to our trading account – THE WORST EFN EXPERIENCE OF ALL TIMES, dealing with my 2yr old daughter who doesn’t talk yet is WAY EASIER. We put 5 simple questions to them with evidence and for 6 months they have not answered any of our questions. We ask why these trades were delayed in execution, they waste a month of asking where how when and then they answer yes they were executed!!!
So now, we have escalated the matter further and we have raised a complaint against them with AFCA (Australian Financial Complaints Authority) and we requested for some information from Thinkmarkets through AFCA. For more than 3 months now, Thinkmarkets provided every god dam data that is NOT NEEDED OR HAS NOTHING TO DO WITH THE ACTUAL COMPLAINT and they do it over 1000 emails. The case is still Active with AFCA, thinkmarkets still dragging their feet answering & providing evidence.
Your forex broker is a big part of your trading and you need to choose carefully and test the product your are getting before committing to it and trading your hard earned money.
We just want to advise you TO NOT CHOOSE THINKMARKETS AS YOUR FOREX BROKER – THEY ARE NOT THE RIGHT BROKER FOR YOU AND THEY WILL STEAL YOUR MONEY!!!
DO YOURSELF A FAVOR AND SHOP AROUND AND DO NOT USE THEM EVEN IF THEY WERE YOUR LAST RESORT!!! Good luck to you all
2 traders have found this review helpful
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Frequently Asked Questions

Is ThinkMarkets a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if ThinkMarkets is a good broker. https://www.forexpeacearmy.com/forex-reviews/6704/thinkmarkets-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Think Markets community discussions: https://www.forexpeacearmy.com/community/tags/thinkmarkets/

Is ThinkMarkets legit and regulated?

ThinkMarkets Group is regulated in four countries.
  • TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA), FRN 629628.
  • TF Global Markets (Aust) Limited is regulated by Australian Securities and Investments Commission (ASIC) under Australian Financial Services Licence 424700.
  • TF Global Markets (South Africa) Pty Ltd is authorised by Financial Services Provider (FSP No 49835).
  • TF Global Markets Int Limited is authorised and regulated by the Financial Services Authority of Seychelles under license SD060.
  • TF Global Markets (Europe) Ltd is regulated by Cyprus under CySEC license 215/13.
  • TF Global Markets Japan Co. is regulated in Japan under JFSA license number 0250.

What does ThinkMarkets trade?

ThinkMarkets offers a number of assets to be traded with.
  • Forex currency pairs
  • Shares CFDs
  • Precious Metals
  • Commodities
  • Cryptos
  • Indices

What is the maximum leverage for ThinkMarkets?

ThinkMarkets offers a maximum leverage of 500:1 for both Standard Account and ThinkZero.

What is the minimum deposit to open an account with ThinkMarkets?

ThinkMarkets offers 2 types of account: Standard Account and ThinkZero. The minimum deposit varies depending on the type.
  • Standard Account: minimum deposit is $0
  • ThinkZero: minimum deposit is $500