ThinkMarkets offers a free and advanced demo trading account in a zero-risk trading environment. The demo account can be converted into a real live account. The demo account has a trust score of 93%.
ThinkMarkets at a glance
| 🏛️Brokers name | ThinkMarkets |
| 📍 Headquarters | Australia, UK |
| 📅 Year founded | 2010 |
| ⚖️ Regulating authorities | ASIC, FCA, FSCA, FSA, CySEC, JFSA |
| 🗺️ Countries not accepted for trade | US, Russia, Canada |
| 💰 Minimum deposit | No Minimum deposit |
| 🛍️ Tradable assets offered | Forex Commodities Indices Shares & ETFs Cryptocurrencies Precious metals CFDs Futures |
| 📊 Trading accounts available | Standard, Think Zero |
| 📒 Demo account | Yes |
| ☪️ Islamic account (swap-free) | Yes |
| 🔣 Maximum leverage | 1:500 |
| ➕Deposit options | OZOW Bankwire / EFT Credit / Debit cards Skrill |
| ➖Withdrawal options | OZOW Bankwire / EFT Credit / Debit cards Skrill |
| 📊 Platform(s) provided | MT4, MT5, ThinkTrader |
| 📶 OS compatibility | PC, Mac, Android, and IOS devices |
| 💬Languages supported on the website | English as well as multiple other languages |
| 💬Customer support languages | English as well as multiple other languages |
| ⏲️Customer service hours | 24/7 |
| * Cryptocurrency CFDs are not offered to retail clients in the UK | |
| 📌 Open an account | 👉 Click Here 👈 |
Min Deposit USD 0 Regulators FCA, FSCA, ASIC, CySEC, JFSA Trading Platform MT4, MT5, ThinkTrader Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours Derivative products are leveraged products and can result in losses that exceed initial deposits.
ThinkMarkets demo account review- 6 Key Point Overview
- ✅ThinkMarkets at a glance
- ✅ThinkMarkets demo account Pros and Cons
- ✅Demo Account Features
- How to set up a ThinkMarkets Demo Account – Step by Step
- Conclusion
- Frequently Asked Questions
ThinkMarkets demo account Pros and Cons
| ✔️ Pros | ❌ Cons |
| Regulated and authorized by FSA Seychelles, ASIC in Australia, FCA in London and FSCA in South Africa | Commissions charged on the ThinkZero account |
| Tightest possible spreads | No US, Russia, Canada clients allowed |
| Makes provision for beginner traders | |
| PAMM and MAM accounts available | |
| ThinkMarkets offer both MT4 and MT5 platforms which are accessible via web browser | |
👉 Risk Warning: Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary. It’s important for you to consider relevant legal documents before you decide whether or not to acquire any of our products.
Think Markets Demo Account Features
👉 The ThinkMarkets demo account features will depend on the trading platform that the trader uses, in this case, MetaTrader 4, MetaTrader 5, or ThinkTrader, in conjunction with the demo account.
👉 In other words, the demo account features can be accessed through the trading platform and will depend on ThinkMarkets’ offering with regards to asset classes, financial instruments, spreads, leverage, and so on, specifically for the purpose of the demo account.
👉 Traders can use the demo account for a variety of reasons, including, but not limited to:
📉 A practice account for beginners to gain more trading experience.
📉 An account where experienced traders test their strategies.
📉 A way to explore ThinkMarkets’ offer in a more hands-on manner.
How to set up a ThinkMarkets Demo Account – Step by Step
Opening an account with ThinkMarkets is simple and easy. The application process is quick, fully digitalized, and can be completed in 3 easy steps.
👉 Step 1 – Fill out the online application form
The applicant is required to fill out the online application form which features basic information. Along with the application, the applicant will have to provide documentation to verify their identity along with their proof of residence.
Whether an individual or joint account is applied for, the applicant must provide:
- Photo ID either in the form of a valid passport, valid government ID, or valid National Identity Card
- Proof of residence either in the form of a utility or landline phone bill, or a bank statement (all proof of residence may not be older than 180 days)
👉 Step 2 – Applicants who apply for joint accounts will need to provide details and documentation for each of the two applicants.
In the case where a corporate account is applied for by an enterprise, a photo ID is required for all directors and any shareholders who own over 25% shares. The same is applicable with the provision of proof of residence.
👉 Step 3 – Approval and login details
Once the application form has been completed and submitted along with the required documentation, it may take up to two working days for the applicant to receive their login details, given that the documents are valid and acceptable.
ThinkMarkets also offer the opportunity for traders to hold more than one account, along with the ability to transfer funds between these accounts.
Min Deposit USD 0 Regulators FCA, FSCA, ASIC, CySEC, JFSA Trading Platform MT4, MT5, ThinkTrader Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours Derivative products are leveraged products and can result in losses that exceed initial deposits.
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Conclusion
ThinkMarkets has a superior and vast offering in comparison to its peers. This includes not only technology but reliability, expert customer service, and fair pricing.
The layout is user-friendly and even beginner traders will not get lost in finding their way around the website and accessing educational tools to start trading.
You can trade major, minor and exotic forex pairs with no minimum deposit requirement for a Standard account and just $500 for a ThinkZero account, which is equivalent to ZAR R8000 at the time of writing and up to 500:1 leverage.
Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does ThinkMarkets offer a demo account?
Yes, a demo account is available for practice trading with this broker.
Is ThinkMarkets a good broker for beginner traders?
Yes, ThinkMarkets offer a good trading environment for beginners and advanced traders.
For how long is the demo account valid?
The standard validity in the demo account is 90 days for clients using the MT4 & MT5 trading platforms. For traders using the ThinkTrader platform, the demo account does not expire.
Which live trading accounts does ThinkMarkets offer?
Standard Account and the ThinkZero Account.
What are the available deposit currencies for a live trading account?
- USD
- AUD
- EUR
- CHF
- GBP
- SGD
- NZD
- CAD
- JPY
- ZAR
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