ThinkMarkets is it a scam? Reviews about forex broker

ThinkMarkets may require additional information, but most new traders will satisfy the verification process with the two items. Please read ThinkMarkets reviews below and share your live trading experience. The company adheres to the privacy policy and regulations provided by the authority. The platform protects and safeguards all the client’s data that they provide with their consent.

How do you backtest in trading view?

  1. Set backtest date range with inputs (optional)
  2. See if the bar's time is inside the range.
  3. Submit entry orders for bars inside the date range.
  4. Flatten open trades when the date range ends.

ThinkMarkets customer service can be contacted through phone, e-mail and live-chat. By offering ThinkTrader, and MetaTrader 4, and MetaTrader 5 ThinkMarkets is able to provide traders with an array of tools that they might need to be successful. All platforms are incredibly intuitive and offer a variety of tools and resources. ThinkMarkets’ ThinkTrader also offers the TrendRisk Scanner tool, which allows traders to scan markets and spot high-probability trades.

ThinkMarkets Regulation and Licensing Details

Another benefit of adopting MT5 over MT4 is the availability of trading platforms for customer assistance. With MT4’s customer care being phased away, users with trading platform troubles or questions may have fewer options day trading forex for assistance. Also, it provides a statistical view of the trades and how they are performing in the market so that the ThinkMarkets traders don’t have to think about the high risk of losing money in the market.

Which trading is best for beginners?

  • Fidelity – Best overall for beginners.
  • TD Ameritrade – Excellent education.
  • E*TRADE – Best for ease of use.
  • Merrill Edge – Best client experience.
  • Webull – Best investor community.

ThinkMarkets is a well-regulated and fully compliant broker across three jurisdictions. The Australian Securities and Investments Commission regulates TF Global Markets while the UK Financial Conduct Authority authorizes TF Global Markets . Additional oversight exists via the South African Financial Sector Conduct Authority for TF Global Markets Ltd.

Introducing Brokers

Unlike the Standard Account, the ThinkZero account is recommended for traders with higher capital. Holders of ThinkZero accounts will be able to trade up to 100 lots with a commission of $3.5 per lot. You will also have access to all of MarketTraders’ trading platforms, including an account manager. ThinkMarkets is a perfect platform for anyone looking for a reliable, fast, and intuitive trading experience.

thinkmarkets review

Some instrument share trading involves a high risk that needs management, which this technical analysis API can provide when accessing the ThinkMarkets app. Once you install this API, most regulated forex brokers can access it from the mobile app easily. With such high-risk management strategies, the risk of losing money in the global markets reduce.

ThinkMarkets offers two general accounts, a Standard Account with wider spreads and the ThinkZero Account – an ECN account with tight spreads and commission per trade. The Standard Account is suitable for beginners, with no minimum deposit requirements. Trading costs are a little higher than average on the Standard Account – most good brokers’ entry-level accounts have a trading cost of 9 USD per lot of EUR/USD traded. However, with no real minimum deposit requirements to speak of, this is still a good account for beginner traders. New traders can benefit from the educational content available at ThinkMarkets.

It is also compatible on a large variety of browsers including Google Chrome, Mozilla Firefox, Internet Explorer and more. TF Global Markets Limited is authorized and regulated by the Japanese Financial Services Agency . TF Global Markets Ltd is authorized and regulated by the Cyprus Securities & Exchange Commission . TF Global Markets Int Limited is authorized and regulated by the Financial Services Authority, Seychelles . TF Global Markets Ltd is authorized and regulated by the South Africa Financial Sector Conduct Authority . TF Global Markets Limited is authorized and regulated by the Australian Securities and Investments Commissions .

Good Customer service

Besides maintaining a competitive core trading environment, ThinkMarkets delivers a series of unique features to further set itself apart from most of its competitors. Manual traders will benefit from the Autochartist MT4/MT5 plugin and its rich suite of features. Trading Central increases the competitive trading tools available at ThinkMarkets and adds another layer of research capabilities. ThinkMarkets supports social trading via market-leader ZuluTrade, while its in-house ThinkInvest caters to retail money managers. Third-party developers can connect to the ThinkMarkets infrastructure via the industry-standard FIX protocol. ThinkMarkets is a forex platform and is also known for its CFD brokerage services.

thinkmarkets review

With a live trading account, traders deposit and trade with real money at actual profits and losses. A Demo account allows traders to trade in a simulated, risk-free trading environment with virtual money, at no profits or losses. Most brokers provide research tools to assist traders with researching the markets they are interested in, helping to make informed trading decisions while minimizing simple trading the risks involved. The Beginner section covers the basic aspects of Forex CFD trading such as leverage and margin and introduces traders to the MT4 platform. The Intermediate section covers trading plans, candlesticks, order types, and chart patterns – all essential skills for successful traders. It also has a larger number of pending order types than MT4 and features an embedded chat system.

ThinkTrader, ThinkMarkets’ proprietary trading platform, offers a very user-friendly interface while still managing to pack a number of powerful tools and components. Additionally, ThinkMarkets offers all customers access to live support 24 hours a day, seven days per week as well as access to daily market insights. ThinkMarkets offers several different types of accounts to accommodate the varying needs of its customers. The minimum deposit requirement at ThinkMarkets is zero on the Standard account. The ThinkZero account has a minimum deposit requirement of 500 in any accepted unit of currency. Now I am passionate about reviewing and comparing forex brokers.

ThinkMarkets Spread Charged in Our Trades

First 3 months were running good and fantastic, and we were averaging no less than 5%+ return weekly, some weeks we did 10%+. I’m very sorry to hear of your experience and hope we may assist to you in receiving an agreeable outcome.

It is a straightforward process and follows industry-wide standards. Account verification is mandatory to comply with regulatory AML/KYC rules. New traders must submit a copy of their ID and one proof of residency document dated within the last three months.

Customer Support

This extra protection feature gives clients peace of mind, and it’s completely free of charge. ThinkMarkets charges inactivity fees on accounts that have not been accessed in the past 12 months. This is a common policy among online brokers, as it is costly to maintain an account that is not being used. The good news is that there are no account minimums or maintenance fees at ThinkMarkets. ThinkMarkets offers a Cryptocurrency product, which allows traders to speculate on the future price of Bitcoin, Ethereum, and Litecoin.

Narrow spread betting within the market – it starts from 0.0 pips. This CFD trading platform doesn’t offer any cent retail investor accounts. For a standard account, the minimum amount to deposit is kept at $0. This further makes it easier for all beginners to start trading CFDs without investing much and learn more. It doesn’t provide any bonuses, rewards, content, or any other promotional services to the clients. High-level controls are put and are highly regulated by the Financial Authority across several countries, making it safe and secure for all the clients to use this platform.

A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds. The company soon moved headquarters to London, the United Kingdom, as well as Melbourne, Australia. Its portfolio quickly expanded and soon, it offered several investments and partnership programs apart from its online trading services. The company offering to discover hundreds of markets to trade and constantly increases a range. At the moment the offer includes over 38 major, minor and exotic FX pairs, Cryptocurrencies, 9 global Indices, Metals, Commodities and over 125 Shares.

Overall, ThinkMarkets is a reliable, regulated, and well-respected online broker that can be trusted with your money. The company does not charge any withdrawal fees, however, the banking institution used may charge some fees. All three have a strict set of regulations in place with which companies must comply with. Top-tier banks such as Barclays, National Australia Bank as well as the Commonwealth Bank of Australia are used to protect customer funds in segregated accounts. The regulating bodies ensure safe trading conditions such as segregated customer funds and the best trading practices.

Are trading apps Safe?

With mobile trading being accessible to more investors, mainly small ones in remote locations, apps have enhanced security measures to boost trading through mobile apps. Here are reasons why trading through an app is safe: – The same safety protocols as those used by web-based portals are used on apps.

This market determines the exchange rates for all foreign currencies. Foreign exchange trading includes the buy or sell of currencies at either current or determined prices. Spreads are the difference between the trade’s bid price and the asking price . Spreads could be variable or fixed, depending on market movements such as interest rates. Traders have access to 24/7 Live Support along with having access to free VPS service. ThinkMarkets is based in Australia and the United Kingdom with regulation and authorization through ASIC, FSCA, FSA, CySEC, JFSA, and FCA.

ThinkMarkets offers a selection of training and educational tools to help traders gain self-confidence in their trading abilities. These are done through tutorials that cater to beginners, intermediate and advanced traders. The company also provides an additional layer of insurance which is applied to its customers globally and covers client funds for up to £1 million. The policy is signed by Lloyd’s of London and protects client funds in case of insolvency. In some cases, brokers charge rollovers, also known as swap fees, for positions held open overnight.

Whether you are a beginner or an experienced trader, we offer a wide range of products and services to suit your needs. Our award-winning trading platform is simple to use and provides you with all the features you need to trade successfully. Plus, our powerful analytical tools and market insights help you stay ahead of the competition.

All these platforms are available on the web, desktop, and mobile. We recommend you open an account with the UK or the Australian entity if their services are available in your jurisdiction. We alsoreached out to customer supportto solve the issues we faced. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. MQL5 – MetaQuotes Language 5 is a high-level language designed for developing technical indicators, trading robots and utility applications.

If you are not familiar with social trading, ThinkMarkets provides a guide that will help you familiarize yourself with how social trading works. Once you’ve finished that, you will need to verify your identity. For individual accounts, you will need to provide a photo ID (passport, driver’s what is a currency etf license, or any other government-issued ID is accepted) and proof of residence . For corporate accounts, you will be asked to provide a valid photo ID, proof of residence of all the shareholders who have 25% of the shares, company information, and the company’s proof of address.