Think Markets Review

Regulation - 10/10

Think Markets is regulated by the Financial Sector Conduct Authority (FSCA) who have granted them both an FSP & ODP license to operate.

Account Types - 8/10

1. Think Trader Account

This is a spread-only account with 1:500 leverage that gives you free access to the TradingView & Think Trader platforms but it does not work on MetaTrader.

2. Standard Account

This is another spread-only account with 1:500 leverage but it only works with MetaTrader.

3. Think Zero Account

This account offers lower spread but charges a commission per trade; the leverage is also 1:500 and it only works on MetaTrader.

Funding & Withdrawal - 5/10

Think Markets Minimum Deposit

Think Markets has a $0 minimum deposit on their entry level Standard & Think Trader Accounts while the Think Zero Account has a $250 minimum deposit. You also get a 5% bonus on crypto deposits in ERC20 or TRC20.

How to Deposit into Think Markets

Think Markets Minimum Withdrawal

Think Markets has a $1 minimum withdrawal limit, but for bank wire there is no withdrawal limit.

Think Markets Withdrawal Time

When you withdraw by cards the processing time is instant but OZOW local South African bank transfer can take around 3 days.

Account Management - 7/10

Account Currencies

Think Markets has ZAR Account Base Currency as well as USD, GBP, CHF currencies.

Think Markets Leverage

If you set your account to Classic Leverage, you will be limited to 1:500 always. However, if you set it to Dynamic Leverage it will automatically adjust to 1:2000 from Tuesday to Thursday.

Margin Call & Stop Out

At Think Markets, a margin call comes when your margin level falls to 100% and Stop Out comes when your margin level falls to 50%.

Negative Balance Protection

Think Markets offers Negative Balance Protection, ensuring that your account balance never falls below zero. If the market moves sharply against you, this feature safeguards you from owing money to the broker, giving you peace of mind during unpredictable market conditions.

Range of Markets - 7/10

On the MT5 platform you can trade 1,800+ CFD instruments and on the MT4 platform you can trade just over 400. On the Think Trader proprietary platform you can trade up to 4,000 instruments.

1. Forex CFDs

Over 40+ symbols of Major, Minor & Exotic currency pairs including USD/ZAR and EUR/ZAR can be traded.

2. Index CFDs

Over 20+ Indices including NAS100, DE40, US30 etc. can be traded.

3. Commodity CFDs

5 Commodities including Gold, Silver, Copper, Platinum, Oil & Gas can be traded.

4. ETF CFDs

100+ ETFs including South African SA40 ETFs are available for trading.

5. Stock CFDs

500+ Stock CFDs including those of domestics South African companies like ABSA & MTN are available for trading with leverage up to 1:5.

6. Futures CFDs

you can trade CFDs based on futures contracts of NAS100, US30, UK100, SPX500 & Crude Oil; with up to 1:200 leverage.

7. Crypto CFDs

Over 20 Crypto instruments including Bitcoin and TrumpCoin are available for trading with leverage up to 1:50.

Think Market Fees - 6.5/10

1. Spread & Commission

On Standard & Think Trader Accounts, the spread starts from 0.4 pips but most times you will get the EUR/USD spread hovering around 1.1 pips. These accounts are commission-free..

On the Think Zero Account, the spread starts from 0.0 pips but you must pay $3.5 per side. commissions on every standard lot sized trade.

2. Overnight Fees

You pay an overnight fee for leaving your CFD trade open till the next day. Islamic Accounts are however swap-free.

3. Inactivity Fees

Think Markets charges a R25 inactivity fee on accounts that have been dormant for 6 months.

4. Withdrawal Fees

$25 withdrawal fees apply to bank wire & OZOW withdrawals. If the profit you realized from trading exceed the funds you deposited, you will be charged a withdrawal fee.

Trading Platforms - 8/10

1. MT4/5

The MT4 & MT5 platforms are available on the Standard & Think Zero Accounts only.

2. TradingView

If you open a Think Trader Account type, you will be eligible to for free TradingView platform access (other account types are ineligible).

3. Think Trader Platform

On this platform, EA trading is not allowed but you can trade more instruments here than on other platforms (we are talking 4,000 different instruments).

Trading Tools - 6/10

1. Traders Gym (Backtesting Tool)

To backtest your strategies Think Trader requires you to login to the Traders Gym Portal which runs on the Think Trader Platform only. When logged in, you will be able to test your trading strategies and see if they would have worked if you tried them n the past.

2. VPS

Think Markets provides Virtual Private Server (VPS) service that enables you connect your trading account to 24/7 without bothering about network downtime.

The VPS service is not free but Think Markets clientrs et a 30% discount.

3. Economic Calendar

Think Markets has also built their own economic calendar tool which you can use to keep track of dates for the release of important news such as NFP, CPI etc.

Support - 7/10

Think Markets support is open 24/7 which makes it ideal for weekend trading of cryptocurrencies.

1. Live Chat

You can get in touch with Think Markets vis live chat 24/7 and they respond in 1 minute.

2. Local SA Telephone Help Lines

Think Markets has local South African help number you can call to resolve issues.

3. Help Center

There is a comprehensive help center where you can search for answers to common questions.

4. Email

There are several dedicated email addresses you can send mails to and they respond within 2 hours.

5. Beginner Education

The Think Markets Academy contains several text-based learning articles.

Final Verdict - 7.1/10

Think Markets is one of the best forex brokers in South Africa for experienced traders.