ThinkForex Review – ECN/STP Forex Broker

By Published On: 07/01/2011 Read More »

LeverageUp to 500:1
Minimum Deposit250 Units
Minimum Lot Size0.01
Broker TypeECN/STP
Deposit methodsBank Wire, Credit/Debit Card, BPAY, MoneyBookers/Skrill
Spreads/CommissionVariable and Market Driven. Normal market conditions see spreads from 0.7 to 2 pips
RegulationASIC (AFSL #424700) in Australia
Trading PlatformMetaTrader 4, Mirror Trader, ZuluTrade, WebTrader
Account TypesSee Table Below
Restricted CountriesUSA

ThinkForex is a broker that is regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number 424700 in Sydney, Australia under the business name TF Global Markets (AUST) Pty Ltd. ThinkForex was launched in mid 2010. Due to the nature of its regulation, ThinkForex does not accept Traders based in the US.

ThinkForex is an ECN broker that offers low latency high speed trading on the MT4 trading platform. ThinkForex have developed the technology that allows them to provide fast execution with no delay because of ThinkForex Metatrader servers that are located in the same server block as their liquidity providers. Add all of that up with tight, market driven, spreads and you have the perfect trading environment for your automated/manual trading needs. ThinkForex also offers traders who deposit $2500 or more with a free VPS, which is an added advantage.

The execution and price feed from ThinkForex speaks for itself, compare ThinkForex’s price feed to any other MetaTrader 4 broker on the market today and traders will notice that ThinkForex’s price is always update first! By trading through an ECN, a currency trader generally benefits from greater price transparency, faster processing, increased liquidity and more availability in the marketplace. The banks also reduce their costs as there is less manual effort.

An ECN trading broker is an electronic system that attempts to eliminate the role of a third party in the execution of orders entered by an exchange market maker or an over-the-counter market maker, and permits such orders to be entirely or partly executed. Click here to read about about ECN or Electronic communication network.

Many online traders are realizing the advantages of what the ThinkForex MT4 Standard and Professional platforms offer. The execution is second-to-none and ThinkForex has set the technology bar high when it comes to providing for its clients. Every good Forex trader knows that execution, lack of re-quotes and tight spreads are the keys to success in this market. It is no wonder that traders from Toronto to Sydney continue to praise ThinkForex for its high speed platforms that are custom-tailored for all robots,scalpers, and new traders.

Types of accounts with ThinkForex

ThinkForex offers three main types of forex accounts, namely the MT4 Standard account, MT4 Pro account and SpeedTrader Currenex account. More details on these accounts are mentioned in the below table.

MT4 Platform Based Accounts

Standard Pro Algo
Fx Pairs 35 Pairs
Metals Gold & Silver
Min. Deposit1 250 Units 2000 Units 2500 Units
Max Leverage 500:1 500:1

1Units indicated in account currency.

 

Thinkforex VPS accounts

ThinkForex offers VPS accounts for traders who make a deposit of a minimum of $2500. The ThinkForex’s VPS system offers fast execution as the VPS servers are in the same location as ThinkForex’s liquidity providers. The VPS offers dedicated memory and storage, the servers are connected via the high speed fiber optics. The VPS servers comes with the Windows 2003 operating system and allows for 24/7 remote access. Traders can also take advantage of the fact that they can make use of EA’s as well. Read more about Forex VPS Hosting

ThinkForex Spreads

The forex spreads a trader pays to the broker is the first value to impact a trade’s P&L. Before any trade becomes profitable, a trader’s position must first move past the cost of the spread. Access to lower spreads move a trader into a profitable position sooner. Many traditional Market Maker forex brokers proudly advertise their low fixed spreads as being an advantage to traders. Nothing could be further from the truth.

Fixed spreads offer no significant advantage and are subject to broker manipulation such as artificial widening. – a tactic whereby dealing desk brokers manipulate available spreads when client positions move against the broker.

ThinkForex’s ECN/STP execution model offers true market driven spreads. The benefit to every one of ThinkForex’s clients is real access to real-time buying and selling rates and ensures clients are trading under optimal market conditions of supply and demand providing the best available bid/ask rates at any given time.

ThinkForex’s ECN/STP model allows direct access to the largest liquidity pools; the final result of which is low market driven spreads for our clients. We do not compete / trade against our clients or intervene in any way. This allows ThinkForex’s traders more advantages over dealing desk market makers and STP only brokers:

  • Low market driven spreads
  • No limits on Scalping
  • No “stop-loss hunting”
  • No requites

A fixed spread may seem like a good thing when market conditions are not optimal during times of low liquidity or high volatility. The fact is, a fixed spread remains in place even when lower competitive true buying and selling rates are available. When the fixed spread is in place traders lose in the end. More details and explanation about Forex Spreads

ThinkForex Islamic/Swap Free Accounts

Interest or Swap Free accounts are popular for clients who require their trading activity to be interest free for religious reasons. Interest free account provided by Think Forex allow traders to hold positions in the market for any given time without incurring interest.

Many traders may also refer to these accounts as swap-free forex accounts, because within this kind of accounts no swap or roll over interest will be charged or incurred to any positions held overnight. Islamic forex accounts are intended especially to Muslims as swaps go against their religious beliefs.

No Riba Policy: A client may hold positions for an undetermined amount of time and may close at any time without being charged any fees. If a ThinkForex compliance officer determines abuse in the use of this policy the client will be notified 72-48 hours and the policy can be revoked. Read more about Islamic or Swap free accounts. Rollover/SWAP is a charge or credit applied to all positions held overnight (Past 21:59 GMT). All positions held overnight under regular accounts are charged or credited based on the rates below and are subject to change at any time.

ThinkForex Payment Systems

ThinkForex offers various methods of deposit and withdrawal options for traders. Choose from one of the many account deposit options including Credit / Debit Card Deposits, Bank Wire Deposits or one of our available Payment Partners. The payment methods includes:

  • Credit/Debit Cards: Deposits will be cleared in 2 hours or less
  • Bank Wire: Deposits will be cleared within 1 – 2 business days
  • BPAY and MoneyBookers/Skrill

Why trade with Thinkforex

ECN/STP Forex broker offering three different types of forex trading platforms. Ability to use ThinkForex VPS system for faster execution. Wide choice of liquidity providers. Licensed and regulated forex broker.

ThinkForex » Open Account

About the Author:

ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.

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