Even the best forex brokers either compete on cost or quality of service, but, occasionally, you will find a standout broker that offers low cost trading, but also excels with quality service points across the board. ThinkMarkets is one of the latter types of broker. As per their viewable timeline, the firm was formed in New Zealand in 2010, but expanded to such a degree that in two year’s time the broker moved its headquarters to Melbourne, Australia and never looked back. It also has a London office, but its customer base is primarily in the Asia-Pacific region, although it has clients in over 75 countries at present. The firm has also received multiple industry awards for service excellence. ThinkMarkets is a trading name of TF Global Markets (Aust) Pty Ltd., holder of Australian Financial Services License number 424700. Unfortunately, U.S. clients are not currently accepted.
ThinkMarkets is a Non-Dealer Desk (NDD), ECN broker and goes out of its way to provide the best in technology, reliability, features, pricing, customer service, and educational support. Full transparency breeds honesty and integrity, the hallmarks of this firm. They are in full compliance with the Australian Securities and Investments Commission (ASIC), and all client deposits are segregated in accounts with Top-Tier banks in Australia. Their global network is failsafe, backed up by Equinix, a well respected, co-location data center management company, thereby ensuring data integrity and reliable, quick order execution. The management team has also focused on using the highly popular MetaTrader4 series of trading platforms, supplemented with mobile applications for smart phones and tablets.
ThinkMarkets is primarily about forex trading, but you may also choose to trade CFDs for indices, commodities, metals, and a few alternatives, like the VIX and the USD Index. There are three account choices, (Demo and Islamic, too), with escalating benefits and improved spread arrangements, which can be fixed or variable, depending upon your volume preferences. You will also find unique offerings, like social or copy trading, virtual private server access, and Autochartist, the “world’s most advanced tool for the automatic identification of trade opportunities in the form of Chart patterns, Fibonacci patterns, and Key Levels.” The firm’s “FX University” is comprehensive (We have never seen an FAQ section as extensive as with ThinkMarkets). They appeal to all manner of traders with a website accessible in 17 languages, and Customer Service is bilingual and available “24X6”. As its motto declares, “ThinkMarkets – The Smart Way to Trade”.
Features at ThinkMarkets
Why trade with ThinkMarkets.com? The firm lists these reasons:
- Founded in 2010, and now headquartered in Melbourne, Australia, with offices also in London;
- Regulated by ASIC, with additional oversight from the FCA in the UK;
- Client deposits segregated from operating capital in Top-Tier banks in Australia;
- Extensive global network of customers, spanning over 75 countries;
- Many industry awards garnered over the past seven years (See website);
- Minimum deposit = $250;
- Accounts may be denominated in USD, EUR, JPY, GBP, AUD, CAD, NZD, CHF, and SGD;
- Three account classifications (including Demo and Islamic): Standard – ($250 to $1,999), Pro- ($2,000 to $24,999), VIP – ($25,000 and up);
- Dedicated account manager provided for all accounts;
- No U.S. clients accepted at this time;
- Spreads (as low as 0.8 pips for Standard and lower for variable pricing for higher tiers) and benefits vary by account status;
- Leverage can be up to 500:1 on all accounts for forex (200:1 for CFDs);
- Asset choices include forex pairs (35) and CFDs (10 indices, 2 metals, 2 oil, and the VIX and USD Index);
- MetaTrader4 protocols supported, along with mobile applications;
- ECN shop with the backing of major liquidity providers;
- EAs (automated trading), scalping, and hedging allowed;
- Comprehensive library of support materials, including videos, training guides, live webinars, direct one-on-one support, and daily analysis and commentary;
- Bilingual customer service staff available “24X6” via live chat, email, and direct phone line (Website in 17 languages);
- Proud sponsor of UNICEF.
ThinkMarkets showcases the MetaTrader4 line of trading platform products, supplemented with mobile applications for those on-the-go traders. The firm takes pride in its doubly redundant communication network of servers, spread across the globe and managed by Equinix, a leading data center management company. Reliability and quick execution are assured by its ECN nature and cadre of major liquidity providers, and this top-of-the-line service is made even better by the inclusion of several third-party services for social/copy trading, private access, and charting analysis. All data and personal information are also encrypted, using the latest in SSL technology for security and privacy purposes.
Deposits and Withdrawals
Deposit options are broader than just major credit cards and banking wire transfers. You may also use alternative payment services, including Skrill/Moneybookers, Neteller, BPAY and Union Pay. Withdrawal requests are handled within 24 hours, provided that the standard KYC/AML documentation is current, on file, and in order. No fees are charged for withdrawals, but banking intermediaries may deduct fees in the process.
Bilingual customer service representatives are responsive and may be accessed “24X6” via live chat, email form, or direct phone. Office addresses are also given for Melbourne and London presences. A dedicated account manager is provided free of charge to help guide you through every detail, and the library of instructive materials is extensive, including training guides, webinars (both archived and live), and videos. The website can also be accessed in 17 languages at this writing. Daily analysis and commentary from the ThinkMarkets team of professionals rounds out the package.
ThinkMarkets – Conclusion
The team at ThinkMarkets exudes honesty, integrity, and trust from every aspect of their offering. This firm has learned that, if you go with the best technology, pricing, and customer service, then you can win on the global stage and garner both awards and build a broad-based clientele in over 75 countries. Strict regulatory compliance ensures peace of mind, along with deposit safety, reliability and quick order execution. It is difficult to find anything astray with this broker. They even allow complaint resolution from an independent mediation body in Australia, the Financial Ombudsman Service (FOS). If you are looking for one of the best, relatively new brokers around, then you may want to check in the land down under for ThinkMarkets, the smart way to trade.