ThinkMarkets Review

3.327 · 174 REVIEWS

Formerly ThinkForex.com

Updated: Sep 14, 2021 · ThinkMarkets.com  · Is this your company?

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.

ThinkMarkets

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1
Established: 2010
Address: Hana, 70 St Mary Axe, London, EC3A 8BE, United Kingdom
Contact: support@thinkmarkets.com, +44 203 514 2374
Regional offices:
Regulators: ASIC #424700, FSA-S #SD060, FSCA #49835, FCA #629628
Prohibited countries:
Trading platforms: MT4, MT5, ThinkTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (40+)
Cryptocurrencies: (15+) Bitcoin, Ethereum
CFD: (1500+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, BitPay, BPAY, Neteller, PayPal, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, BitPay, BPAY, Neteller, PayPal, Skrill

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ThinkMarkets.com profile provided by ThinkMarkets Support, Jun 22, 2021

ThinkMarkets is a multi-regulated forex and CFDs broker established in 2010 with headquarters in London and Melbourne. ThinkMarkets is offering a wide choice of platforms which include the widely-popular MetaTrader 4, the advanced MetaTrader 5, and its proprietary innovative ThinkTrader platform. ThinkMarkets offers market access to over 40 forex pairs and CFDs on indices, metals, cryptocurrencies, equities, commodities, futures and more.

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3.327 · 174 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

hk, China,
Aug 19, 2021,
Registered user

Scam, dont use it

Service use: Live

Length of use: over 1 Year

i have reported this company to FCA , I started my trading on 7/2021, then they suddenly suspend my account and held my fund and told me that they need to investigate my account before iwithdraw my funds. (50,000US)

of course , no any result and stop to reply my email till now.

ThinkMarkets Compliance <compliance@thinkmarkets.com>於2021年7月23日 上午7:11寫道:
>
>  Dear Sirs,
>
> We are writing to inform you that your trading account(s) are currently under review with ThinkMarkets Compliance Department.
>
> Whilst we are carrying out our investigation and trade surveillance, your account(s) will be placed on Read-only.
>
> Please refer to our Terms & Conditions for acceptable trading practices.
>
> Once our investigation is complete we will share our findings.
>
> Should you have any questions please contact the Compliance Department only, by email.
>
> Kind Regards
>
> ThinkMarkets Compliance
 
Reply by ThinkMarkets Support submitted Aug 31, 2021:
Hi John,

Can you please provide us with the account number so we can further investigate the issue?

Kind regards,

The ThinkMarkets Team
São Paulo, Brazil,
Aug 6, 2021,
Registered user

This company is not regulate to customers outside of UK or Australian DANGE

Service use: Live

Length of use: over 1 Year

Do not do business with this company! If you are not English or Australian you will not be covered by any regulatory body to help you with ThinkMarkets technical issues. Do not do business with this company. We lost more than usd 2.2 million due to quote errors, abnormal spread widening, lack of order execution and more various operational problems. 
Do not do business with this company without first checking their regulations and hidden details.
  1 trader has found this review helpful
moscow, Russian Federation,
Feb 2, 2021,
Registered user

freezing trade till price gets away from TP point

Service use: Demo

Length of use: over 1 Year

01/02/2021 i went XAGusd sell . around my take profit they freezed only this pair till price went away from it. i controlled it from other platforms and other brokers
 
Reply by ThinkMarkets Support submitted Feb 10, 2021:
Hi Ahmed,

Can you share your order ticket number so we can investigate the issue?

Kind regards,

The ThinkMarkets Team
Dubai, United Arab Emirates,
Sep 26, 2020,
Registered user

Shady Practices...Stay Away if you like to protect your money

Service use: Live

Length of use: over 1 Year

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.
  2 traders have found this review helpful
Reply by ThinkMarkets Support submitted Sep 30, 2020:
Dear Mohamed,

The regulatory jurisdiction under which your account is getting opened is automatically determined depending on your geolocation. Our FCA-regulated entity is currently used by default for the European clients of ThinkMarkets. Should you have any preference after your account application is submitted, we can move you to the FCA-regulated entity, but this is done on a case by case basis after you provide all the necessary KYC documents. We are sorry to hear about your experience with our account opening procedure, but you have to understand that we are strongly committed to adhering to best practices under all of the regulatory jurisdictions we are licensed to operate. Should you have any further questions, kindly submit your queries to our support team.

Best regards,

The ThinkMarkets Team
Alyssa Barton,
Southbank, Australia,
Aug 19, 2020,
Guest

Solid service and spreads

Service use: Live

Length of use: 3-6 Months

ThinkZero account spreads are some of the best around, not just the headline rate but good consistent low spreads on all products at all times. I use their MT4 account and are currently testing their MT5 demo which I plan on moving to for live trading before the new year. I like to use a M3 chart which MT5 has as does their ThinkTrader app, but MT4 doesn’t.

They did reinstate a trade on JPY I had recently that was closed on an erroneous spike that other brokers I also have accounts with showed. They were quick, professional about it and kept me informed. I was pleasantly surprised as with many other brokers this type of thing had happened to me with would dig in and I’d waste so much time an energy to get fixed. It gives me confidence in the broker when they are quick to resolve any issues.

ThinkMarkets are a very reliable and trusted broker in my opinion and I am very happy to continue trading with them.
 
Reply by ThinkMarkets Support submitted Oct 1, 2020:
Thank you for the valuable feedback, Alyssa,

We are trying to perform our duties as a reliable broker partner to thousands of customers worldwide. In case you have any issues, do not hesitate to contact our customer support team which is available to answer your queries 24/5.

Best regards,

The ThinkMarkets Team
Brandfort, South Africa,
Aug 7, 2020,
Registered user

I recommend this broker

Service use: Live

Length of use: 0-3 Months

The brokers is working perfect for me.No withdrawals delay the support team is on point.
 
Reply by ThinkMarkets Support submitted Oct 1, 2020:
Thank you for the valuable feedback, Ben,

We are trying to perform our duties as a reliable broker partner to thousands of customers worldwide in the best possible way. In case you have any issues, do not hesitate to contact our customer support team which is available to answer your queries 24/5.

Best regards,

The ThinkMarkets Team
Vilnius, Lithuania,
May 25, 2020,
Registered user

...increased value instantly!

Service use: Live

Length of use: 0-3 Months

...I opened live account with Think Markets about one month only so cannot provide much information on withdrawing, trading and etc but one thing impressed me a lot. I (by mistake) pressed selling button of 0,1 XAUUSD at time when market was closed. Even if trade size is very small (0,1 lot) it would be pitty because market should be closed without any available trades. I contacted customer service and after a few talks they agrred to refund their mistake.

I will provide more information about this broker but at this moment everything works perfectly and such action (refund of their mistake) increased value instantly.
 
Reply by ThinkMarkets Support submitted Oct 1, 2020:
Thank you for the valuable feedback, Mindaugas,

We are trying to perform our duties as a reliable broker partner to thousands of customers worldwide in the best possible way. In case you have any issues, do not hesitate to contact our customer support team which is available to answer your queries 24/5.

Best regards,

The ThinkMarkets Team
Cairo, Egypt,
Apr 17, 2020,
Registered user

Think market is a big scam broker

Service use: Live

Length of use: 6-12 Months

Don't deposit any investment in that broker , they are a big scam .
At the beginning they profe that they have certified from FCA and AFCA.
And when you any problems and try to complain against them , they will state that your contract not regulated to those and you registered in Bermuda.
So you will lost all of your money

More. Community discussion of this issue >>

  2 traders have found this review helpful
Reply by ThinkMarkets Support submitted Oct 5, 2020:
Dear Mohamed,

After carefully reviewing your case, we can confirm that the reason for your complaint is over-leverage. You have had several positions open into the time of rollover and a virtually warranted increase in spreads after the NY close into the illiquid trading conditions observed in New Zealand trading hours. You had 4.05 lots of short GBPCAD and 0.75 lots of long GBPCAD open and the account was approaching a stop out. Furthermore, there were 3 lots of buy GBPCAD pending as an attempt to hedge, reduce the overall exposure and avoid the stop out. Even though stop outs cancel all pending orders, this is not the case here as the pending orders were deleted approximately a minute before the actual stop out.

MT4 performs a margin check when opening hedging positions - the orders will be filled only if the resulting new free margin is non-negative. In this case, you had several pending orders and were close to a stop out (which implies negative free margin), and the margin check for each resulted in a negative new free margin. Had you placed one pending order for 3 lots or, better yet, one pending order for a complete hedge (3.3 lots) instead, the resulting free margin would have been non-negative and the order would have been filled.

Kindly understand that the ability to use margin has its limits and using all of your available funds is a great risk regardless of your positioning and hedging. We sincerely hope that this explanation is satisfactory. No financial regulations in either jurisdiction have been breached - on the contrary, those stop out rules are integrated into the MT4 trading platform in order to protect clients from overleveraging.

Kind regards,

The ThinkMarkets Team
london, United Kingdom,
Mar 30, 2020,
Registered user

Just stealing my money, nothing i can do about it

Service use: Live

Length of use: 0-3 Months

Opened an account with think markets due to me not being satisfied with the level of service from my previous broker.

i deposited an amount and placed a trade, i found the platform to be slow and very unfriendly to use and the spreads were too big so i closed my trade and withdrew my balance.

i then recieved a call from an account manager that frankly i hadnt asked for, he advised me to use the thinkzero platform if spread was an issue, so i gave them the benefit of the doubt and deposited again in order to try, now 3 weeks on and atleast 35 lots later, covid19 has hit the world hard and being self employed i want to withdraw my money in order to be able to live.

Except thinkmarkets wont let me withdraw without fining me 4 figures, they wont give me a reason why just that no matter what i do and no matter how many trades i place when i come to withdraw they will charge me.

when i question this they tel me its a finance department issue and i should speak to them, except you cant call them you have to email, its now been over a week of me emailing and getting completely ignored. with the added benefit of my idiot of an account manager popping up occasionally just to remind me i will be charged. if you want to keep hold of your mmoney i suggest you use another broker.

the whole world is in trouble due to covid19 this money could be a matter of keeping a roof over my head or feeding my young children but all thinkmarkets seem to care about is ignoring me and charging me.

AVOID AVOID AVOID
  1 trader has found this review helpful
Reply by ThinkMarkets Support submitted Sep 30, 2020:
Hello bigspender,

We understand your frustration and would like to review any specific trades, can you please email support@thinkmarkets.com with the ticket numbers and our Trade Support Team will investigate further.

Kind regards,
The ThinkMarkets Team
Tony,
England, United Kingdom,
Mar 29, 2020,
Guest

Avoid. Nothing short of thieving

Service use: Live

Length of use: 0-3 Months

I deposited into think markets as I was considering them as a new broker. I registered and deposited no issues.
I placed my first trade using my entire margin and closed the trade some hours later. I hate there platform it was very clunky and the spreads were gigantic. So I withdrew.

An account manager contacted me and I told him this and he reccomend there zero spread account.

So I deposited again. Again the platform was clunky and by this time covid was having a real impact and we were on lockdown. I had no money coming in from work so I attempted to withdraw, they told me I hadn't used enough and they would fine mye over 5% of my balance if I withdrew .

Obviously not wanting to lose such as large amount I carried on trading. I then tried to withdraw again and was again told insufficient trades.

I've since asked how much I have to trade in order for this fee not to stand and they refuse to tell me. Not account manager is useless and the finance department dont reply at all.

Since my deposit I have traded in excess of 30 lots. I have used my full amount available time and time again.

Yet still they wont let me withdraw unless the charge me thousands of pounds

I urge you not to use this broker and use literally anyone else.
  1 trader has found this review helpful
Reply by ThinkMarkets Support submitted Sep 30, 2020:
Greetings Tony,

Kindly provide some details about your issue and I'm sure we can assist you together with our contact customer support team,

Best regards,

The ThinkMarkets Team

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.

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