ThinkTrader’s proprietary platform ThinkTrader was launched in July 2016 when the broker started operating under a new brand (previously known as ThinkForex).
ThinkTrader is a multi-asset trading platform available for desktop computers (Mac only), mobile devices (iOS and Android), and as a web-based platform. It offers trading with Forex, CFDs, commodities, indices and metals.
Users of the platform have access to data analysis and financial news. They can also easily add widgets and charting tools, and choose from more than 100 indicators. The platform also has a one-click trading feature for fast and easy execution of the clients’ orders.
In addition to its own trading software, ThinkMarkets also offers the renowned MetaTrader4 platform.
Is ThinkMarkets legit?
You can trade with ThinkMarkets easily and with peace on mind, knowing that the broker fully registered with the Australian Securities and Investments Commission (ASIC) as well as authorized and regulated by the Financial Conduct Authority (FCA) of the UK.
Besides, African region covered as well, since ThinkMarkets acquired brokerage and fully regulated by the local FSCA in South Africa.
How are you protected?
The regulatory status in simple words means a client is treated fairly according to the international laws and requirements, while trader’s funds are held in selected top-tier banks, such as Barclays, National Australia Bank and the Commonwealth Bank of Australia.
Traders funds also being segregated from the own company funds, with daily fund reconciliation and application of the standard Financial Services Compensation Scheme (FSCS) while the clients are covered under the ‘investments’ claim category up to £50,000 per person per firm in case of a brokers default.
Leverage is indeed an important tool, especially for the retail traders of smaller size. However, the offered leverage levels vary according to the ThinkMarkets entity you trading with.
The smaller level of 1:30 for major Forex pairs applied to the accounts opened under the UK FCA regulation, since the authority significantly lower leverage requirement recently.
Australian traders that are covered by the ASIC regulation still can enjoy a high level of 1:400 for Forex instruments.
South Africa traders
South Africa traders maximum leverage 1:200
Yet, make sure to learn deeply how to use leverage smartly and not to fall under unpleasant circumstances and high risk.
While opening an account you may choose from two account types, while free Demo is available to practice the experience, along with a choice on Islamic account to the traders of Islam belief.