RECOMMENDED FOREX BROKERS
ThinkMarkets integrates well into the high standard world of Forex… when it comes down to site interface and look. Yet, Forex is not a beauty pageant. Should you concern yourself with ThinkMarket?
This broker is owned and operated by ThinkMarkets group, and has two subsidiaries.
TF Global Markets (UK) Limited has the FCA as a license issuer. The FCA oversees that the broker works within the confines of the law, and requires regular detailed reports on the broker’s affairs. The FCA allows for a refund scheme under the FSCS, which allows for the reimbursement of up to £85 000 to clients who are victimized by the broker’s inability to pay its debts (due to bankruptcy, or any other similar cause).
TF Global Markets (Aust) Pty Ltd holds a license from ASIC, whose main duty to is to promote a confident, informed and, above all else, safe trader participation in the world of online trading. Dissimilar to the FCA, there is no compensation fund.
The EUR/USD spread for TF Global Markets (UK) and TF Global Markets (Aust) Pty Ltd is 1.2 pips. There is a commission attached to the ThinkZero account, adding $7 to all ThinkZero spreads (more on that below).
The leverage in the UK and EU has been limited to 1:30, while for those outside ESMA supervised territory the leverage extends to 1:500 max.
Forex pairs, shares, commodities, indices and crypto are all present assets to trade with.
The broker supports English, Australian English, German, Spanish, Italian, Indonesian, Malay, Polish, Greek, Vietnamese, Czech, Arabic, and Chinese.
Trade Interceptor is the newest trading platform here, while MT4’s omnipresence soothes us.
Trade Interceptor offers the typical layout that one has come to expect. Charting tools, instruments and open positions are easily accessible. There is a news section, a built in economic calendar, charting tools and more, yet with all its pluses it simply cannot compare to MT4. Not to mention that the platform does not come with trading bots. Here is a snap of the platform in full motion:
The platform sports an average spread of 1.2 pips with a leverage of up to 1:500 for non-ESMA supervised territories.
The ThinkZero account comes with spreads as low as 0.1 pips, yet it also taxes players with $7 ($3.5 per side) per lot. So, in reality, the spread increases by 0.7 pips for every asset if using the ThinkZero account.
The platform can be accessed as a desktop software, or on any mobile and tablet.
This one needs to introduction. Coming with all necessary tools for the best trading possible the MT4 is a staple in the industry. Expert Advisors, VPS, Autochartist to help you identify new opportunities and lets you monitor multiple markets at the same time, and a plethora of add-ons that ensure a boost in your trades.
EUR/USD spread is 1.2 pips and the leverage goes to 1:500, and 1:30 for the EU and UK.
The ThinkZero account comes with an attached commission to it that increases all spreads by 0.7 pips. So if the broker claims that the spread for EUR/USD, with the ThinkZero account, is 0.1 pips, it’s actually 0.8 pips.
Give MT4 a swirl on smart phones, tablets, on a web browser, and/or as a stand alone desktop terminal.
THINKMARKETS MINIMUM DEPOSIT
The minimum deposit is $250.
Accounts can be funded using: Bank Wire/ Bank Transfer, Bitpay Visam, Mastercard, Skrill, Neteller, Payment Asia / Union Pay, DinPay.
The base currencies are AUD, EUR, CHF, GBP and USD.
Credit/ Debit card transfers are instant, while eWallets and Bitpay funding can take up to 10 minutes to process. Bank Wire financing can take up to 3 days to process.
ThinkMarkets does not charge any fee for deposits.
THINKMARKETS WITHDRAWAL TIME AND FEES
The FCA pledges to keep all withdrawals away from harm’s reach.
Withdraw you earnings by using Bank Wire/ Bank Transfer, Bitpay Visam, Mastercard, Skrill, Neteller, Payment Asia / Union Pay or DinPay.
All withdrawals requests are processed within the same day of the request if the request was made before 3 am GMT. The only exception is Wire Transfer, since it can take up to 3-5 days to complete.
ThinkMarkets does not charge any fee on withdrawals.
The minimum withdrawal amount for Bank Transfer is $30. For eWallets and CCs there is no such minimum.
One thing’s certain, and that is the stability and reliability of ThinkMarkets. The licenses alone guarantee that. Beside that, ThinkMarkets does not revolutionize the industry. The broker is just one more in a sea of others.
However, that is not to say that ThinkMarkets is unworthy of your time. On the contrary, we strongly recommend it.