ThinkForex

Added on January 18, 2012 05:24 AM
(4 / 5)
Spread: 1.0 Min. lot: 0.01 Execution: NDD,STP
Leverage: 1:400 Country: Regulated by: ASIC
Min. deposit: $500 Platforms: MetaTrader,SpeedTrader,MirrorTrader Payment methods:

ThinkForex is a New Zealand based ECN Forex broking company with realistic and competitive trading conditions, offering quick execution and scalping and hedging capabilities, amongst some of the most notable features. Regulated by the Financial Service Providers (FSP) as well as the Financial Service Complaints Ltd.(FSCLP), ThinkForex  offers safe and secure trading benefits to traders all over the world who have been looking for a trading network with low latency and the capability to maintain limitless open positions.

ThinkForex is a Forex broker regulated by the Australian Securities and Investments Commission (ASIC) with the AFSL number 424700 in Sydney, Australia. The only drawback – ThinkForex does not accept American traders.

The company allows a maximum leverage of 1:400, which is quite impressive.

Minimum deposit requirement is $500.

Minimum deal size is 1000 units.

It is available in two languages – English and Chinese.

ThinkForex Trading Platform

ThinkForex offers numerous options of the MetaTrader 4 platform to traders so that they can find one that suits their needs and style of trading. Besides the standard downloadable MetaTrader 4 platform, forex traders will also be able to trade on the conventional downloadable version of MT platforms, MT4 version for mobile phones, the web based version and MAM version for multi-account management.

Traders are allowed to choose between three platforms- SpeedTrader or SpeedTrader Pro or Mirror Trader option in case if they want to copy trades from experienced and knowledgeable Forex traders. It is important to note that the MetaTrader4 platform is the best for expert advisors and traders who wish to ensure flexibility of copy trading and manual trades and might want to mull over these options.

The speed of execution of MT4 is quite commendable.

The SpeedTrader Platform offers a surprisingly pleasant experience, even though it took longer than usual to navigate, quite unlike any MT4 platform. However, the limitation of this platform is that while most of the other MT4 platforms are available in more than 20 different languages, this platform is only available in English, Chinese, Russian and Japanese. Otherwise, the features and customize options of the SpeedTrader platform is very impressive and the trading speed is highly commendable.

The SpeedTrader platform offer two levels of tabs that help in keeping traders well organized without even cluttering the screen or opening up every element in different windows, thereby allowing traders to have multiple views of the trade and analyze each view with respect to the information available at once. It is also possible to minimize the unnecessary windows, which are not need at that very moment. The one-click execution of the platforms is definitely refreshing. The SpeedTrader Platform is, thus, one of the finest that any trader has experienced in the recent times.

ThinkForex Features

ThinkForex has successfully retained all the standard features of a Forex broker like the ability to trade spot Forex, metals hedging, scalping and other competitive variable spread ranging from 0.1 pips. It also covers some unique features, which is very impressive. For instance, the starters program, which enables the brokerage to manage its spreads by building partnership with the top tier 1 liquidity providers supporting tight pricing. The Mirror Trader integration is one of the most intelligent features offered by this brokerage that can help traders to trade with the help of professionals in any other platform offered by ThinkForex, expect MT4 EA service.

ThinkForex offers video tutorials, which is quite common these days. However, the best thing to note is that they provide organized tutorials divided into various sections to enable traders to pinpoint their needs, instead of wasting time looking at all the odd number of resources. Navigation is smooth and it is easy to find what you need.

While experienced traders believe that the one-click execution is usually overrated, it is always considered to be the much-appreciated option that is available in the SpeedTrader platform. Similarly, while there are many traders are fond of downloadable platform, the web-based platform is also essential and appreciated for its use because it makes trading on the go more prevalent and beneficial.

Traders who take pleasure in trading from any part of the world can take the advantage of the VPS System offered by ThinkForex. It enables traders to have easy access to the information remotely with highest level of protection.

There is just one single technical problem when we tried to log into the MT4 platform, but the problem is now easily resolved by the custom support team. The choice between the platforms of MT4 can be an intimidating experience. Though you may be disappointed, as we were, due to no demo option available for MT4 Webtrader, there are very few brokers who offer this.

Customer Service/ Help and Support

The customer support team of ThinkForex is the most responsive and helpful that has been tested in quite some time. In addition, they follow a very organized and thorough FAQ section. The live support team of the company is always accessible and very pleasant in their dealings. During multiple tests through chat service, the response time was highly appreciable and support received was professional. Moreover, the support team is friendly and quite easy to understand. They can answer general as well as technical questions with ease.

ThinkForex is available 24/5 for customer support via phone and email. There is a 24 hour emergency helpline support, too, which is also open on weekends. You can reach ThinkForex on local phone numbers in Brazil, Japan, Australia, Malaysia and the UK.

Conclusion

The website of ThinkForex is well organized and coordinated, which makes it easier to use and navigate. All the necessary and relevant information are available without digging around. The brokerage publicizes their regulations along with registration numbers, which is highly appreciable as some brokers do not have these features included.

Furthermore, the latest addition is the Google map feature, which helps in finding the company’s headquarters and enables traders to feel comfortable and confident that ThinkForex has the least to hide. This, in itself, is a reassurance if you are going to deposit some money with a brokerage firm.

In addition, ThinkForex also offers different methods of deposit and withdrawals for traders. You can choose from any of these methods, which includes options for Credit/Debit Card Deposits or Bank Wire Deposits or payment through any of the Payment Partners.

Finally, it is definitely worth experiencing the outstanding features of ThinkForex. It accepts deposits in different currencies, which includes USD, EUR, CHF, GBP, AUD and JPY. Transactions can be done via Skrill/Moneybrookers, wire transfer, AlertPay and credit card. PayPal, however, is not available to the ThinkForex clients at this time.

Overall, a great experience.


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