ThinkMarkets review Australia: Forex, commodities and CFD broker

• Forex
• CFDs

Data indicated here is updated regularly

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

Close

Sort by:

Name	Product	Minimum Opening Deposit	Minimum Spreads for Major Currencies	Commission	Minimum Trade Size	Platforms
ThinkMarkets Forex Trading		No minimum for standard account, $500 for pro account	From 0 pips	$7 per trade	0.01	MetaTrader4, MetaTrader5, ThinkTrader	Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment. Trade forex, commodities and CFDs using MetaTrader4/MetaTrader5 platforms or access advanced analysis tools through ThinkTrader.	More Info	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

Data indicated here is updated regularly

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

Close

Sort by:

Name	Product	Minimum Opening Deposit	Minimum Opening Deposit	Commission - ASX 200 Shares	Available markets	Platforms
ThinkMarkets CFD		$0	$0	From $7 or 0.08%. (whichever is higher)	Forex, indices, commodities, metals, share CFDs, ETF CFDs, futures	MetaTrader4, MetaTrader5, ThinkTrader	Disclaimer: Volatile investment product. Most clients lose money trading with this provider. Trade forex, commodities and CFDs using MetaTrader4/MetaTrader5 platforms or access advanced analysis tools through ThinkTrader.	More Info	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

Disclaimer: CFDs and forex are complex financial products that come with a high risk of losing money. Most retail client accounts lose money trading CFDs and forex. Consider whether you can afford to lose your money.

About ThinkMarkets

ThinkMarkets is an online forex and CFD broker headquartered in London, United Kingdom. It launched in 2010 and has offices in Melbourne, Australia, as well as smaller hubs in the Middle East, North Africa, Europe and South America.

In addition to forex, users can trade stock and ETF CFDs, indices, commodities, cryptocurrencies and futures. It offers the industry-standard platforms MetaTrader 4 and the next-generation MetaTrader 5 as well as its proprietary platform ThinkTrader, which offers advanced charting, technical analysis and analytical tools to measure risk.

Why trade with ThinkMarkets?

There are a few solid reasons why you might go with ThinkMarkets ahead of another platform. First, its proprietary platform ThinkTrader will appeal to advanced traders that are looking for features beyond what the standard Meta 4 or Meta 5 platforms offer. This includes advanced charting, technical analysis tools, backtesting and risk assessment tools.

Its spreads and fees are competitive on both standard and advanced accounts, and you can get up to 25 trades commission-free. You also get a longer list of commodities, CFD shares and indices than many other brokers offer.

• Customer service. Above average customer service with quick response times and detailed answers.
• Spreads. FX spreads are as low as 0.0 pips on the professional account and start at 0.4 on the standard account.
• Commission. You pay zero broker fees for forex trading, regardless of the account
• Fast execution. ThinkMarkets offers high-speed trade executions
• Technical analysis. Its proprietary ThinkTrader platform offers advanced trading tools including charting, technical analysis and backtesting.

Is ThinkMarkets trustworthy?

ThinkMarkets is registered with the Australian Securities Investment Commission (ASIC) under the trading name TF Global Markets (Aust) Limited and its a holder of Australian Financial Services Licence.

On popular user review sites, it has received mostly positive feedback, with users pointing to its tight spreads, good customer service, gold and forex trading and its unique ThinkTrader platform offering.

• Forex Peace Army: 3.4*/5
• AU Trustpilot: 4*/5

Note: Forex and CFD trading always carries risk, which you should be aware of, so read up before you start investing. Do your research before signing up to any forex or CFD trading platform.

What can I trade on ThinkMarkets?

Users can access a good selection of markets, with over 38 global currencies pairs, commodities trading in gold, silver, oil and natural gas, 5 cryptocurrencies and CFD shares and indices.

• List of currencies: AUD, CAD, CHF, DKK, EUR, GBP, HFF, HUF, JPY, MXN, NOK, NZD, PLN, SEK, SGD, TRY, USD, ZAR
• List of indices:Australia 200, China A50, Dow Jones 30, EuroStoxx 50, France 40, Germany 30, Hong Kong 50, Japan 225, Nasdaq US tech 100, South Africa ZAR40, Spain 35, US Dollar Index, UK 100, US SPX500
• Individual shares (CFD): ASX, US, EU, UK, South Africa (MT5 required)
• Commodities: Gold, Gold (zero), Gold (mini) Silver, Silver (zero), Silver (mini), Copper, Crude Oil (WTI), Crude Oil (Brent), Natural Gas,
• Cryptocurrencies: Bitcoin, Bitcoin (cash), Etherium, Litecoin, Ripple

What are ThinkMarkets' spreads and fees?

ThinkMarkets has among the lowest forex spreads and fees on the market. There are no broker FX commission costs when you use the Standard account however the advanced ThinkZero account charges $7 per trade.

There are no subscription, monthly or inactivity fees, so you won't be charged for an inactive account. The standard account has no minimum opening balance, while the ThinkZero account requires $500 to open.

What account types are available with ThinkMarkets?

ThinkMarkets has two main account options: Standard and its active account ThinkZero. There's also a demo version of the software and an Islamic Account that complies with Sharia law. You get the same list of trading instruments on Standard or ThinkZero accounts, however, CFD stocks and cryptocurrencies are only available on ThinkTrader and MT5 platforms.

• Demo version: A free trial version is available with $10,000 practice funds to play with for 30 days.
• Standard: You can open the basic account with no minimum deposit required and spreads starting at 0.4 pips.
• ThinkZero: You get tighter spreads using the ThinkZero account, though you'll also need to pay a commission fee of $7 forex and there’s a minimum $500 deposit to open the account.
• Islamic account: A Sharia compliant account that offers a limited selection of currencies.

What customer support options are available?

I was happy with ThinkMarkets' customer service. The live chat responses I received were quick and detailed, plus the person I spoke to over the phone when I signed up was friendly and easy to chat to. Support staff seemed to have a good understanding of the forex market and CFD markets and went out of their way to assist.

Support options:

• Live chat
• Phone
• Email

News and training material

ThinkMarkets offers a decent hub for new traders, with training and basic how-to guides. More extensive educational material is offered once you sign up.

MT4 and MT5 already offer inbuilt news and company updates as well as customisable notifications to help keep you on top of important markets. ThinkMarkets' proprietary ThinkTrader platform also offers a news service powered by financial analysis provider FXWirePro.

How do I open an account with ThinkMarkets?

You can apply for a demo, standard or ThinkZero (advanced) account by clicking on the link above.

When you open an account with ThinkMarkets, you’ll have the option of choosing your preferred account type along with your platform of choice (Meta 4, Meta 5 or ThinkTrader). You will also have the option of choosing your own maximum leverage (up to 500:1) and your account's currency (AUD, USD, etc).

You’ll need to provide the following identification details:

• Home address
• Net annual income
• Savings
• Experience level
• Option 1: Two photo IDs such as passport and driver’s license
• Option 2: One photo ID plus one proof of address such as bank statement or bill

After you’ve been approved, you can download your platform of choice and starting trading.

Deposit methods: Visa, Mastercard, Skrill, BPAY, UnionPay, NetBanx, globalcollect, bank transfer.

Conclusion

ThinkMarkets has all the usual options when it comes to trading forex and CFDs, with a few additional features to keep advanced traders happy. Its customer support is well above the average, you have the option of using Meta 4 and Meta 5 if you want the standard, plus its advanced ThinkTrader for those wanting advanced analysis features.

Not sure if it's for you? Check out our full list of forex and CFD brokers to compare fees, spreads and markets.

ThinkMarkets FAQs

• Can residents of any country open an account with ThinkMarkets?

  No. Australian residents are free to open an account, however, some countries are restricted due to local regulatory constraints.

• Does ThinkMarkets allow me to trade shares?

  No, you cannot directly buy shares, but you can trade stock CFDs and share market indices.

• Can I trade from my account on my iPhone?

  Yes, it's possible to place trades from your desktop PC, Mac, iPhone or Android device.

• Where are my funds held?

  ThinkMarkets holds funds of Australian users within a trust account held at the Commonwealth Bank of Australia.

• How can I withdraw funds?

  Your withdrawal method depends on your deposit method, i.e. if you fund your account using bank transfer, withdrawal will be via bank transfer. You can make a withdrawal request through the client portal called ThinkPortal and funds take between 1 and 5 days to transfer, depending on the method you select.