Thinking of Trading With Think Markets?
Think Markets is an online broker providing forex and CFD trading services to users. The company was founded in 2010 in the United Kingdom. The company is privately owned and has dual headquarters in both Melbourne and London. The company is regulated and authorised to operate in multiple jurisdictions worldwide. Regulators overseeing the company include the FCA, FSCA, and ASIC. The deposited funds of clients are separated into separate accounts as is the standard with regulated online brokerages. In the event of bankruptcy, Think Markets users have protection of up to £85,000 as part of the FSCS compensation scheme. But users also have the option to purchase insurance which provides coverage for losses up to £1 million. Think Markets caters for users in a wide variety of jurisdictions including Europe, Asia, and South America. Its services are restricted from the United States. The website is available in eighteen languages to cater for its worldwide user base.
Trading Markets and Products
Think Markets offers a wide number of markets. The market classes offered include equities, commodities, and the emerging asset class of cryptocurrencies. One downside to Think Markets is the instruments offered for trading within each market class are not as widespread as other major online brokerages. However, most traders will find that the markets offered will provide more than enough opportunity to capitalize on market swings.
However, if a trader has a specific need for a certain instrument, they should check that Think Markets offers this instrument before signing up. The markets are mainly offered through CFD instruments. These instruments enable users of Think Markets to speculate on the price movements of an asset without having to own the actual underlying asset. An increasingly popular asset class which Think Markets does provide access to is cryptocurrencies. Traders in this asset class can speculate on the price movements of Bitcoin, Ethereum, Ripple, Bitcoin Cash, Dash, and NEO.
Users of Think Markets can choose from two different account types. The standard account can be opened with no minimum deposit and provides users with all the necessary infrastructure to get started with speculating in the markets. The more professional account tier, called ThinkZero, is more suitable to traders who are trading at large scale. ThinkZero accounts benefit from much lower average spreads but these account holders pay commission on both buying and selling. Due to these commission charges, this account type will only make sense if traders are trading with large positions. Before setting up an account, users can trial the infrastructure with a demo account which is funded with $50,000 in virtual cash.
Think Markets also has valuable account options which are uncommon among other brokers. Users have the option to set up an Islamic account if they wish to comply with Sharia law. There is also a wide variety of funding options. This includes bank transfers, Skrill, Neteller, and even bitcoin.
Trading Platform and Features
Think Markets offers the hugely popular MetaTrader 4 platform. The MetaTrader 4 platform is available on both web and mobile. Users can also access MetaTrader 4 from their browser. The MetaTrader 4 platform is known for having a wide variety of trading tools and high-quality apps and tools built on top of the infrastructure. The platform enables traders to be highly versatile in their trading activities.
Think Market’s own proprietary trading platform Trade Inceptor was acquired in 2017 and is also available to users with a standard account. Trade Inceptor is available on both mobile and desktop. Trade Inceptor also has a diverse set of trading and charting tools. This includes a package which allows traders to upload cloud-based market alert signals. ThinkZero accounts only have access to the MetaTrader 4 trading infrastructure.
What are Think Markets Fees?
The fees Think Markets earn are mainly incorporated into the spread of the products which they offer. If professional or large-scale traders wish to reduce the spread fees they are paying, they can choose a ThinkZero account and pay $3.50 commission on both buying and selling. However, users with the ThinkZero account benefit from significantly lower spreads. For example, the average spread in the forex markets for a standard user is 1.2 pips whereas the average spread for ThinkZero users is 0.1 pips.
What Else Does Think Markets Do?
Think Markets has a team of in-house analysts and reporters that provide analysis and reports on market developments. The analyst team regularly publish valuation reports and market analyses. Analysts from the Think Markets team have received wide coverage regularly appearing on shows such as Fox Business.
They also have a comprehensive library of educational guides so that newcomers can get up to speed with the markets and how to trade them. Guides have been published on a variety of different topics with resources for beginners, intermediate traders, and advanced traders.
In addition to reports, tools are available to Think Markets users. Commonly used tools include a market calendar to keep up to date with upcoming events and also Autochartist which is a software tool that allows traders to generate alerts and scan the market for opportunities.
All accounts have access to customer support services 24/6. The services are available in a wide variety of languages to cater for the wide distribution of users of the Think Markets brokerage.
Successful traders have the option to sign up to the ThinkInvest program. The program opens traders up to a wide pool of investors which allows them to take on capital and set their own terms and conditions. This provides an attractive route that allows traders to scale up their account size.
Why Trade With Think Markets?
Think Markets is a particularly good option for users with uncommon circumstances. If a user wishes to set up an Islamic account or to fund their account with bitcoin, they can do so with Think Markets. Another niche offering is the ThinkInvest program which will be especially attractive to advanced traders. ThinkMarkets also caters to the basics effectively. They provide reliable and versatile trading platforms that their users can trust. Users can choose from two major account types and pick the one best suited to their situation. Educational resources are available which help the beginning trader get started and help the more advanced trader improve their skills. The services are available in a wide variety of languages with the company being overseen by several regulatory authorities. All-in-all, Think Markets is a great choice for traders of all levels and will be an especially good consideration for those with more niche needs.
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