ThinkForex Broker Review: General Overview
If you are looking for a fully regulated broker with great market presence all around the world, then ThinkForex can fulfill all your trading needs. The merchant is owned by TF Global Markets in the year 2010 and its headquarters are located in New Zealand. It is a bright brokerage firm which is regulated by Australian Securities and Investments Commission (ASIC). It reflects a youthful approach to Forex trading and it employs sophisticated technology and other innovative features to offer the best trading experience to individual concerned. The website navigation is very easy and all the links and other trading tools are clearly located and one need not have to waste their time searching for important links. One can avail several benefits with the broker like low-cost trading, unrivaled order execution, multiple funding options and security of funds.
One striking feature offered by this merchant that you will not find with any other broker is RG27 as a part of its ASIC regulation. At the moment, it does not accept traders from the United States of America owing to some legal regulations. ThinkForex is an awarding winning merchant which has been constantly ranked among the top 10 Forex brokers around the world. It is one of that rare breed of FX merchants that allows traders with features like hedging, scalping and high-speed trade executions on its trading platform. The infrastructure is state of the art and inhibits all the technological advancements ideally suited for a small time retail trader. With quality customer service and tight spreads, you need not have to search for any other broker for your FX trading.
ThinkForex Broker Reviews – Trading Platform Types
ThinkForex trading platform offered by the broker comes equipped with innovative features and is extremely intuitive in nature. It has been designed keeping the novice traders in mind. The platform is also designed to meet the needs of those traders who are programmer savvy and want to customize their trade platform as per particular trading strategies. The merchant offers 3 different types of trade platform and the same are discussed under the following headings:
- MetaTrader4: This trading platform is ideal for both newbie as well as experienced traders. It offers several financial instruments for trading like for instance Forex CFD, metals etc. It also features advanced charting with customized indicators and ability to use EA (Expert Advisers). It is indeed one of the most sought after platforms voted best by industry experts. All automated trading strategies are allowed and are 100% web based with 1 click dealing available for traders concerned. The platform is available for both Windows as well as Mac based operating systems.
- CTrader: It is yet another very popular trading platform which is known for its intuitive and sleek interface. One can easily monitor their trade executions and see the live prices. Trade orders can be manually executed and the platform offers a great deal of control and polishes one’s trading skills to a great level. The overall layout is so interactive that one can design the trading workspace as per one’s convenience. One can move in or out of trade positions with one click of a button. There is a wide range of technical indicators with three market depth display options available for the trader concerned.
- Mobile: If you are someone who is always traveling and don’t have the luxury to sit in front of the PC, then you can take advantage of the mobile trading platform offered by ThinkForex. One can easily monitor their account from smartphone and make trade orders easily. The platform is suitable for Android, iOS as well as for Windows based operating system. All you need is to download the required application from the official website of ThinkForex and start placing a trade. Other features include live streaming quotes, daily review of balance and equity. The mobile trading is also available in numerous languages.
ThinkForex Broker – Markets Range and Asset Index
Although it is a relatively new broker in the industry but it is updated with the market by offering the latest assets. It offers the wide range of financial instruments and hence one does not feel limited when it comes to investing money in the Forex market. The broker is also committed and keeps updating itself by adding numerous assets under its wing from time to time. Some of the different range of markets offered by ThinkForex is illustrated under the following headings:
- Forex Trade: The broker offers 37 different types of currency pairs with a combination of non-dealing desk and ultra low spreads. You can expect high-speed trade environment which is not likely to be found anywhere else. It goes a long way in diversifying one’s trading skills and get great returns in the end. Spreads start as low as 0 pip for EUR/USD currency and you avail leverage option up to 500:1.
- CFD Trade: The broker also offers Contract for Difference or CFD across multiple assets categories like indices, soft commodities, energies, assets future and other diversified financial instruments. You will be able to access the global market and trade long or short depending upon your needs or flexibility. Some of the popular CFD includes UK100, CAC, Dow and Hong Kong 50.
- Metal Trade: It is a very flexible broker that offers asset trading in precious metals category like for instance Platinum, Silver, Gold, Palladium and Copper across a myriad size. You can trade in multiple trade currencies and it will surely diversify your trading skills. Spreads on Gold is available from just 0.10 cents and it is available in the mini as well as standard contracts.
What is Forex? How to Trade Forex with ThinkForex?
ThinkForex Account Types Offered
|Features||Standard Account||Pro Account||VIP Account|
|Trade Lot Size||100K||100K||100K|
|Minimum Contract Size||0.01||0.01||0.01|
|Commission||None||3 Units Per Side||Negotiable|
|Product Spreads||As Low as 0.8 Pips||As Low as 0.0 Pips||As Low as 0.0 Pips|
|Free VPS Service||No||Yes||Yes|
|Swap Free Account||Yes||Yes||No|
ThinkForex – Available Trading Tools
The broker is very committed and really cares to enhance the trading skills of its customers. For this very reason, it offers various trading tools that allow one to invest money in the market smartly and sharpen one’s trading skills to great limits. Some of the different trade tools are explained under the following headings below:
- RanSquawk: It is an audio news discovery website and the broker has partnered with this agency to provide traders with great news impacting the financial market. You can stay informed about the latest market updates and get acquainted with the Trade News event.
- AutoChartList: It is a very good tool that can be used to automate the discovery of key price levels and allows one access to myriad technical price patterns across several financial instruments like CFD, Forex, and precious metals. Percentage probability indicators are also available.
- AutoTrade: This is a very popular social trading tool and all you need is to connect your existing account with MyFXBook’s auto trade platform. You can choose across multiple traders and easily add or remove traders and hence maintain proper control.
- Trade Calendar: The news calendar feature of ThinkForex provides access to numerous important calendar events that are round the corner. You can filter the calendar based on your trading needs and get forecasted as well as well as final report.
- TFX VPS: By using this tool, you will be able to access your trading platform at any place in the world from a virtual private server which is powered by TFX VPS. You can stay connected 24X7 and it is free of cost for the qualified accounts.
- Reuters: You can log in your existing trading account with Reuters and get access to several types of financial news and keep yourself updated. Real time news is available with detailed analysis and in-depth insights.
ThinkForex – Payment Services
The broker offers a wide variety of easy as well as secure methods to deposit and withdraw funds from one’s trade account. The payment service comes with 3 layer socket technology and offers the highest level of encryption of data that cannot be hacked. One can make payments through different channels like for instance bank wire, credit/debit card, Skrill, VISA, MasterCard etc. The different currencies accepted by the merchant include EUR, USD, NZD, AUD, SGD, CAD, CHF, GBP and JPY. Another great payment service offered by ThinkForex is called “Global Collect” which is an international payment method. It connects local banks across the world through your local bank to make payments and withdrawals. The withdrawals are processed the same day provided one has made the request before 1 PM EST.
Other important things you need to know about the payment service are illustrated below under the following headings:
- It does not allow 3rd party payments but only in the name of ThinkForex trader account
- Withdrawal and deposit mode of payment have to be same
- Funds are sent to Credit Card when the money in account last for at least 120 days
- Funds are sent to Skrill if money in account lasts for 90 days
- Withdrawals through credit card attract a fee of $5
- There are no fees involved through bank wire payment method
ThinkForex Broker – Education Center
The broker wants its customers to earn money and make great revenue out of the Forex industry. For this, it offers a diversified education center that can help you trade easily and avoid the common pitfalls. You will be able to learn to trade in the smartest possible way though full-length user guides and webinars. Some of the features of the education center are discussed below:
- Videos and Live Events: Are you someone who is new to Forex trading and nervous how to proceed further? You need not worry the least because the merchant offers a series of short educational tutorials in the form of videos that aim to provide basic knowledge in FX trading. The video widget explains how to use the trading platform and get accustomed to living to trade.
- FX University: The broker has a dedicated online university that imparts basic lessons and other beginner topics to the novice traders. The subject matter basically starts with zero level and gradually increases as per one’s level of skills. One will be imparted knowledge in CFD’s vs. Forex, how the currency pair works and how to leverage with margin.
- Trading Guides: This particular guide offered by ThinkForex covers myriad topics right from basic level to technical one by building a trading routine. You just need to download the guide today and expand your Forex knowledge. The guide includes several study materials covering items like CFD’s, market trends etc.
ThinkForex Broker Reviews: Final Verdict
It is one of the finest brokers that you are ever going to find in the Forex industry. It has a sophisticated technology that is equipped to meet the expanding demands of the customer concerned. It offers optimal trade execution with intelligent price aggregation and deep liquidity relationships. The broker has a very good customer service with experienced staff professionals available round the clock all 6 days a week. ThinkForex Bonus is attractive and the educational support center is impressive as it offers numerous guides and tutorials for newbie traders to learn the art of trading. One can contact the representatives through alternate delivery channels like for instance telephone, emails, chats and it offers support in multiple languages like English, French, German, Spanish and much more.
The broker offers low-cost trading and since it requires just $50 to open a trading account, the money is nominal and easily affordable. Plus; you may open a demo account for experiencing the services with zero-risk. It has 3 different types of trading platform suited to the needs of individual trader. It also offers unrivaled trade executions and all the funds of trader are secured because it offers segregated accounts across several banks in New Zealand. Just open a trading account with ThinkForex today itself and witness a great trade environment that you have never experienced before!