ThinkForex Review

MIN. DEPOSIT $250
Up to 500:1
Interest BONUS
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Overview

Company Information Thinkforex is an Australian online Forex trading platform owned by TF Global Markets Pty Ltd. The online platform was launched in 2010 and is now one of the… more

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Details

BrokerThinkForex
Website URLhttp://www.thinkforex.com/
HeadquartersMelbourne, Australia
Support Number+61 3 9093 3400 (AU); +44 203 514 2374 (UK)
Support Emailsupport@thinkforex.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Arabic, Chinese, Vietnamese, Indonesian, Thai, Malay, German, Spanish
Minimum 1st Deposit$250
Minimum Trade Amount0.01 lots
Maximum Trade Amount1 lot
BonusInterest
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationAustralian Securities and Investments Commission (ASIC)
Account TypesStandard, PRO, VIP
Deposit MethodsBank Wire, Global Collect, Credit/Debit Card, Neteller, Skrill, Bpay, China UnionPay, Netbanx, FasaPay
Withdrawal MethodsBank Wire, Global Collect, Credit/Debit Card, Neteller, Skrill, Bpay, China UnionPay, Netbanx, FasaPay
Types of AssetsForex, CFDs, Precious Metals
Account CurrencyUSD, EUR, GBP, JPY, CHF, CAD, SGD, AUD, NZD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

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Company Information

Thinkforex is an Australian online Forex trading platform owned by TF Global Markets Pty Ltd. The online platform was launched in 2010 and is now one of the most successful Australian online brokers. Headquarters of the company are located in Melbourne, Australia. It has a license from the ASIC in Australia. This fully regulated broker is offering some of the tightest spreads and other excellent trading conditions. With already five years of experience in the industry, the people from Thinkforex understand how important it is to offer a safe and trustworthy experience to their clients. With their policy of transparency and honesty in the broker-client relationship, they have become a very attractive platform for many traders. At the platform, you can find the latest innovations in online trading technology and take full advantage of the offered features. The great customer support and fast no dealing desk trading Thinkforex is among the best in the online trading industry. Let’s see what trading features are offered by Thinkforex.

 

Trading Information

Currently, the platform offers three types of accounts. The Standard account is suitable for beginner traders who would like to get a taste of the trading game, but without sacrificing too many funds. The minimum operating balance for this account is $250. The spread type is variable, and they can go as low as 0.8 pips. Maximum leverage is set at 1:500 and there is no commission. Offered currency pairs are 38. Scalping and hedging are allowed, and there is a swap-free option. Minimum position option is set to 0.01 pips. The Pro account is for people who have been in the trading industry for at least a couple of years and know what they are doing. The minimum account size is $2000, and the spreads can go as low as 0.2 pips. You can trade via API, and you have access to browser-based platforms. The maximum leverage is the same, but you have $6 commission per 1 standard lot. You also have a dedicated account manager, free VPS service, autochartist and access market news directly from Reuters. The final option is the VIP account where you have all the trading benefits and features supported by Thinkforex. The minimum account size is $25 000 and spreads can go as low as 0.1 pips. The commission is negotiable. This account will give you the “Fix 4.4 API Connections” feature where you can directly access the PHP code and change the interface.

 

Trading Platforms

Thinkforex offers not one but two trading platforms you can choose. The first one is known for its stability and great user experience and is called the Metatrader4. The platform has some unique features like one-click trading, chart trading, signal trading, automated trading and multi-account management (MAM). With over 50 indicators and over 250 trading instruments, the MT4 is the most trustworthy and stable platform nowadays. Despite its outdated graphics and minor flaws, it’s still the choice of many brokers and traders. It’s suitable for every device and can be installed on Windows and MAC desktop computers without the use of additional software. There are dedicated apps for Android and Apple devices that you can use whenever you’re on the go. The next platform offered by Thinkforex is the cTrader. It offers a bit more features than the MT4 and has some updated graphics. It has a WebTrader version and can be used even with a mobile browser. Compared to the MT4 it offers a Level II market depth but lacks some of the easy access features the MT4 offers (like trading from signals).

 

Security and Customer Services

The people from Thinkforex have taken all the advanced security measures needed for a reputable online broker. There is an SSL protocol implemented on their Open Account page which protects your personal data at all times. All of the clients’ funds are transferred into segregated accounts (according to authority regulations) and are safe if anything happens to the company. Customer support is also excellent. You have 24/6 customer support coverage for all types of accounts (Standard, Pro, and VIP). There are plenty of ways to contact the company’s representatives. You can use one of their dedicated domestic and international phone numbers or fill out their online contact form. Live chat is supported and is usually the fastest method to get a response. Several emails are available depending on what type of question you have and which department it concerns (finance, sales etc.). Alternatively, you can contact the company’s employees through their social media profiles on Facebook, Twitter, YouTube, Google+, Linkedin and Instagram. The website is translated into nine languages, but there is no indication if it has support in all of them.

 

Deposits and Withdraws

Funding your Thinkforex account is easy, and there are many payment methods you can use. You can choose from a total of nine banking methods. Transaction times are a bit slow with even the fastest taking up to 30 min and an average of 24 hours for the payment to be processed. There is no information on their website regarding deposit fees, so you might want to double check on that with the customer representatives. To withdraw money from your account first you’ll have to fill out a withdrawal form. All withdrawals are processed within 24 hours, but there is no information on how long it takes for them to appear in your bank account. There are no withdrawal fees for most methods, but if you choose to operate with a credit card, there will a $5 fee on every transaction. You can withdraw money only using the method by which you deposited them. Also, the bank account name should be the same as your account registration name.

 

Deposit Bonus and Loyalty Programs

Currently, there are no promotions at Thinkforex, but there were in the past. You can find them in the latest news section of the website. What this means is that there might be more coming in the future. For now, it seems that the company is acquiring enough clients without the need of flashy bonuses and giveaways.

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