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Regulated: Regulated by ASIC
Min Deposit: $250
Min Trade Amount: 0.01 Lot
US Clients:
Bonus: 10% Ongoing bonus
Leverage: 500:1
Free Demo Account:
Trading Platform: MT4, Web-Trader, cTrader (ECN)
Payment METHOD NAME Charge Time

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Full Review

About ThinkForex

ThinkForex is a forex brokerage brand belonging to TF Global Markets (Aust) Pty Ltd. The company operates both a non-dealing desk and a market maker model of forex brokerage services to its clients. Located in Melbourne, Australia, ThinkForex is subject to regulation from the Australian Securities and Investments Commission (ASIC) with AFSL number 424700.

 

Special Offers and Bonuses

What are the special bonuses that are available on ThinkForex?

a)    There is an opportunity to win an iPad Air or a Samsung Galaxy smartphone in the periodic deposit promos that come up from time to time.

b)    Two traders out of 100 traders who open a live Bullion Trader account will be winners in a raffle draw to win an iPhone 5S phone which is made of gold.

c)     There are account opening bonuses which start at 10% and which are awarded on a differential basis. They can be claimed if accounts are opened using affiliate partners of ThinkForex.

 

Types of Trading Accounts

Three account types are available on ThinkForex. These are:

a)    Standard: The standard account has a minimum account balance requirement of $250. The maximum leverage used is 500:1, and traders can use a minimum lot size of 0.01 lots. No commissions are paid on trades with this account, and traders can get access to one-click trading.

b)    Pro: The Pro account has a minimum account balance requirement of $1000. The maximum leverage allowed is 500:1 and minimum trade size is 0.01 lots along with a commission of 6 units per standard lot traded.

c)     VIP: The VIP accounts are for high rollers, with a minimum account balance of $25,000 along with a leverage of 500:1 and minimum trade size of 0.1 lots.

There are option to open individual, joint, corporate and swap-free accounts.

 

Trading Platform Features

Several trading platforms are available on ThinkForex. These are the various forms of the MT4 platform as well as the cTrader, a platform designed for ECN market-style executions.

a)    MetaTrader 4: 35 forex pairs can be traded on the downloadable version of the MT4 platform from ThinkForex.

b)    MT4 Mobile: There are various forms of the MT4 platform designed for the various smartphones and tablet devices. The exact platforms can be downloaded from the respective app stores.

c)     WebTrader Platform: This is the web-based version of the MT4, accessible from anywhere in the globe from an internet-connected PC using a URL.

d)    cTrader: Both the downloadable and web-based cTrader platforms for traders who want to trade with ECN-style conditions are new platform additions to the ThinkForex family.

 

Commissions and Spreads

The following are the spreads and commissions that traders can get on ThinkForex:

CURRENCY PAIR Pro Spreads Standard Spreads
EUR/USD 0.2 0.8
USD/JPY 0.4 1.0
GBP/USD 0.6 1.2
USD/CHF 0.4 1.0
AUD/CAD 1.4 2.00
AUD/CHF 1.4 2.00
AUD/JPY 0.7 1.3
AUD/NZD 2.4 3.0
AUD/USD 0.2 0.8
EUR/SEK 12.0 12.6
GBP/AUD 1.2 1.7
GBP/CAD 3.4 4.0
GBP/CHF 2.0 2.6
GBP/JPY 0.5 1.1
GBP/NZD 3.4 4.0
NZD/CAD 2.0 2.6
NZD/CHF 1.4 2.0
NZD/JPY 1.0 1.6
CAD/CHF 1.2 1.8
CAD/JPY 0.8 1.4
CHF/JPY 1.0 1.6
EUR/AUD 1.0 1.6
EUR/CAD 1.2 1.8
EUR/CHF 0.5 1.1
EUR/GBP 0.4 1.0
EUR/JPY 0.5 1.1
EUR/NOK 8.3 9.4
EUR/NZD 2.2 2.8
NZD/USD 1.4 2.0
USD/CAD 0.3 0.9
USD/DKK 8.0 8.6
USD/NOK 8.0 8.6
USD/SEK 9.0 11.7
USD/HKD 1.8 2.2
USD/SGD 1.3 1.9
XAG/USD 2.4 3.0
XAU/USD 1.8 2.4

 

Charting Packages

Both the MT4 and cTrader platforms come with their own unique charting tools and packages. While that of the MT4 is easy to use and understand, the charting packages of the cTrader will take  some getting used to and need to be studied for some time.

 

Education and Demo Accounts

Educational materials on ThinkForex are unique.

a)    The Forex University is the starting point. Just like a university, the Forex University is a collection of the basics of forex, covering topics such as how to read a price chart, what forex is all about, etc.

b)    A number of Trading Guides are also available. These cover the very elements of technical analysis such as market trends, chart patterns, support and resistance, etc.

c)     There are several video lessons available. One of the lessons covered is that of how to use the MT4 trading platform.

 

Customer Service

ThinkForex can be reached via an array of contact options as follows:

a)        Phone: +61 – 290370158 (Australia)

+44 – 203 – 514 – 2374 (UK)

+64 – 99097850 (UK)

+55 – 2139560529 (Brazil)

+34 – 911829975 (Spain)

1 – 800 – 813 – 768 (Malaysia)

b)        Email: [email protected]

[email protected]

d)    There is also a live chat facility on the ThinkForex website.

 

Deposit and Withdrawals

Deposits and withdrawal options on ThinkForex are:

a)    Bank Wire

b)    Credit Card/ Debit Card: This is the fastest method which takes 30 minutes to 12 hours to process transactions. This method requires verification of the user’s identity.

c)     Neteller:  Neteller presents another online payment platform on which traders on ThinkForex can transact.

d)    Global Collect: This is an international payment service provider that connects local banks around the globe to provide easy funding through your local bank.

e)    Skrill: Formerly called Moneybookers, Skrill offers traders the opportunity to transact on a ThinkForex account using more than 99 different payment options.

f)     Bpay: This online payment option is open to Australian residents only.

g)    UnionPay: This is an online payment option open only to Chinese clients of Thinkforex. All transactions are in Chinese Yuan.

h)    Netbanx: This is a direct debit option for Chinese clients.

 

Deposit Limits

The minimum deposit amount on the ThinkForex platform depends on the account type. This is pegged at $250 for the Standard account, $1000 for the Pro account, and $25000 for the VIP account types. There are no maximum deposit limits on ThinkForex.

Withdrawal Limits

There are no minimum or maximum withdrawal limits. Withdrawals must be made from a funding source that has the same name as that on the ThinkForex account and, withdrawals through Credit/Debit Cards must be done to the same card that was used to make an initial deposit.

 

Conclusion

ThinkForex has had a makeover which has adjusted the trading conditions under which their clients operate, making it easier for them to enjoy the trading experience. In addition, the provision of the cTrader platform has extended true ECN trading to ThinkForex clients which gives traders more options.