ThinkForex

Editorial Rating:
3.03
Accept US Traders:
No

ThinkForex.com

ThinkForex is based in Australia and has been operational since 2010 during which time it has created an online portal that boasts five demo accounts. Offering new customers the ability to trial MetaTrader 4, MirrorTrader, cTrader, ZuluTrade and SpeedTrader, ThinkForex is able to gently ease investors into a system which offers 38 currency pairs on the foreign exchange.

After successfully ushering clients through its virtual doors, this online FX broker is able to offer flexible accounts that allow deposits in seven currencies, including: EUR, AUD, GBP, JPY, NZD, USD and SGD. This variety certainly makes it easier and cheaper for traders to deposit and withdraw money and ThinkForex has been wise enough to couple this with a support system that’s available in English and Chinese.

From the bottom to the top this broker offers enough provisions to make it easier for a trader get accustomed to the Forex world and profit from it. Indeed, after giving users the ability to learn the ropes through an extensive practise section, this broker is fully equipped to support its users wherever they’re based.

ThinkForex.com’s Special FX:

Like many online FX brokers ThinkForex allows clients to engaging in hedging and scalping through their accounts; however, unlike most traders, ThinkForex is able to offer these provisions alongside high-speed automated trading on a low latency platform.

With the aim of providing the best trading conditions for users of all levels, ThinkForex has made speed and efficiency one of its main goals. Through a combination of partnerships with top tier 1 liquidity providers and having servers located in the same server block as these providers, ThinkForex is able to offer direct access to the market.

Indeed, not only does ThinkForex.com’s structure mean execution times are greatly increased but downtimes are significantly decreased. Because fewer blockages mean fewer rejected traders it allows ThinkForex to offer tighter spreads and better all-round trading conditions to its customers.

The Essentials:

Continuing its efforts to become a complete online FX brokerage capable of satisfying traders of all skill levels, ThinkForex uses a range of trading platforms. Listed earlier in this review, the trading platforms offers allow users to play the foreign exchange independently or cooperatively through auto-traders.

Whether a user wishes to go it alone in the market with MetaTrader 4 or enlist the help of automatic trading platforms (ZuluTrade and MirrorTrader), there are three accounts available at ThinkForex:

Standard Account:
Minimum account size = $250
Minimum position size = 0.01 lot
Fixed spreads on major currency pairs from 0.8 pips.
Scalping is allowed.
Leverage = 1:500
Digits quoted after the comma = 5
Number of currency pairs available = 38

Pro Account:
Minimum account size = $2,000
Minimum position size = 0.01 lot
Fixed spreads on major currency pairs from 0.2 pips.
Commission per standard lot = $6
Scalping is allowed.
Leverage = 1:500
Digits quoted after the comma = 5
Number of currency pairs available = 38

Algo Account:
Minimum account size = $25,000
Minimum position size = 0.1 lot
Fixed spreads on major currency pairs from 0.1 pips.
Commission per standard lot = $6
Scalping is allowed.
Leverage = 1:500
Digits quoted after the comma = 5
Number of currency pairs available = 38

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This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

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