ThinkMarkets: What Do Consumers Say about it?

In the complex and often perilous forex trading arena, where wealth can be made or lost in a wink of an eye, the choice of a broker is a pivotal decision. This is where user reviews come into play. User reviews can help you when choosing a broker, giving you some insights that are often overlooked in the information presented by a broker.

In this article, BrokersView has collected user reviews for the forex broker ThinkMarkets. Let's take a look at what the broker's clients said about it. 

About ThinkMarkets

Founded in 2010, ThinkMarkets is a leading online trading service provider. In terms of its history, it has been more than a decade since the broker launched its trading services such as Forex and CFDs in various regions one after another worldwide, and it has been successively regulated by multiple regulatory authorities, including CySEC, ASIC, FCA, etc. ThinkMarkets is headquartered in London and sets up offices in 11 regions, including Dubai, Tokyo, Chicago, Melbourne, and others. 

The types of trading accounts that ThinkMarkets offers investors are Demo Account, Standard Account, and its ThinkZero Account, with spreads as low as 0.4 pips for standard accounts and minimal or zero for ThinkZero accounts. The broker offers trading platforms such as the industry standards MT4 and MT5 platforms, as well as its own ThinkTrader platform and its copy trading platform ThinkCopy.

Users praise ThinkMarkets' support team from several angles

Fast response and quick resolution of issues

Users reported that ThinkMarkets provides great customer service which is very helpful in responding and resolving issues swiftly.

Professional, friendly, and enthusiastic

Both reviews by Mirosiav stated that ThinkMarkets provides professional and friendly customer service. Shasa said that the broker's customer support is enthusiastic.

Appreciate the customer support staff by name

Several users appreciated ThinkMarkets' customer support staff directly by name, citing their efforts to help solve problems and their patience in listening, among other things.

Other things users find good about ThinkMarkets

Fast withdrawals and trustworthiness

There are some users who seem to have confidence in ThinkMarkets, praising it for its fast withdrawals and trustworthiness. Amora Taylor considered ThinkMarkets to be a reliable broker, whether for deposits, trading platforms, account creation, or market analysis.

Decent account sign-up support

Several users reported that ThinkMarkets' live account sign-up process is very smooth and easy, and the technical support is prompt. Stanisiav Terziev said that he had problems with his demo account, he contacted ThinkMarkets' support team and managed to solve it.

Good user experience

Several regular customers of ThinkMarkets reported a good user experience with the broker. David also believes that ThinkMarkets offers trading resources that can help increase trading knowledge.

Best broker

Some users simply rated ThinkMarkets as "the best".

Sound compensation measures

ThinkMarkets fully compensated a user who encountered a stop-loss issue where an open position was not closed as expected, resulting in an unanticipated loss. The user stopped trading since then due to fear, but it seems that he is "going back with ThinkMarkets".

Another user, Majd Yazigi, said that ThinkMarkets amended all losing trades to 0 and gave away $25 to compensate customers for the losses due to ThinkMarkets' delisting of EU/UK stocks. ThinkMarkets also responded that the temporary delisting of EU/UK stocks aims to improve its services.

Problems encountered by users with ThinkMarkets

Withdrawal and deposit issues

JOSEPH reported that his withdrawals were not credited to his bank account, ThinkMarkets responded by confirming that his withdrawals were processed successfully. The problem Scott reported was that his deposits from four different banks were unsuccessful, and the banks confirmed that they had not blocked his transfers, so he appeared to be skeptical of ThinkMarkets. ThinkMarkets did not provide a specific response to Scott's trouble.

Another user believed ThinkMarkets was running a withdrawal fee scam. According to him, he was charged a whopping 5.2% fee for withdrawals and ThinkMarkets refused to explain the reason.ThinkMarkets' response to this user in the comments section was that any possible fees are to cover the fees charged to ThinkMarkets by payment providers. 

Missing funds

A user has expressed a loss of trust in ThinkMarkets. He claimed to have audited the movements on his statement and found that €1,800 was missing during his two years of trading activities.

Another user claimed that ThinkMarkets customer service employee Andrea Samuels scammed him out of €11,000. According to him, he had been trading with ThinkMarkets for a month when he realized that the funds in his account had been withdrawn, and Andrea Samuels said that he would never get his money back because his proof of address was fake. The official response from ThinkMarkets is that any client funds held will be managed in line with the relevant policies.

Poor trading environment

One user advised against trading crypto CFDs on ThinkMarkets because the spreads are very high, but he didn't think this was due to market volatility. He also claimed that the ThinkMarkets platform is very unstable. However, the official response was that this was caused by increased volatility in the crypto market, with wider spreads on weekends.

MATHIS Jean, on the other hand, reported that ThinkMarkets' server quality and responsiveness were so poor that he encountered problems with stop-loss during sharp market swings. He also said that ThinkMarkets' support team only pushed back the problem and no one could really fix the problem. ThinkMarkets did not provide a detailed explanation for this issue.

The above reviews were collected from the Internet on September 1.

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