ThinkMarkets is a well-regulated and multi-asset copy-trading platform that is licensed in the UK. This comprehensive ThinkMarkets copy trading review will discuss all you need to know about copy trading on the broker. We’ll discuss its regulations, available markets, copy trading fees, top traders, and safety; then, we’ll examine some online comments from its user base.
Summary
ThinkMarkets is a trading name of TF Global Markets (UK) Ltd, and it was founded in 2010. The broker has main offices in the UK and Australia and one branch office in South Africa. It enables its user base of 450,000+ investors to trade and copy trades in up to 46+ forex pairs, 14+ indices, 3500+ shares and ETFs, 20+ cryptocurrencies, 10+ futures, and 12+ commodity CFDs.
ThinkMarkets has proprietary, third-party trading and copy-trading platforms for both mobile and desktop users. Users can operate from any one of two main account types, plus the demo account. We will discuss these and other things further, but let’s start out our ThinkMarkets copy trading review with a brief look at locations and regulations.
Regulations
ThinkMarkets operates under the banner of Think Capital Limited, which operates out of Bermuda. The entities that operate under this umbrella also include the following:
TF Global Markets Limited (St Lucia): This entity is located on the Ground Floor, of the Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
TF Global Markets Int Limited (Seychelles): The entity is regulated by the Financial Services Authority (FSA) and it is located at CT House, Office 9B, Providence, Mahe, Seychelles.
- Firm Reference Number: SD060
TFG (Payments) Limited (UK): This is the UK entity of the broker and it is situated at Hana, 4th Floor, 70 St Mary Axe, London EC3A 8BE. It is regulated by the Financial Conduct Authority (UK).
- Firm Reference Number: 629628
TF Global Markets (Europe) Ltd: This EU entity of the broker is regulated by the Cyprus Securities and Exchange Commission. Its address is at Office 301, 3rd Floor, Pamelva Court (at the corner of Griva Digheni 1 and Anastasi Shoukri 2, Streets), 3105 Limassol, Cyprus.
- CIF License Number: 215/13.
Think Capital Services Ltd: This entity is situated at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.
TF Global Markets Pty. Ltd (Australia): This is the Australian entity of the broker and it is located at Cadbury 636 St Kilda Road, Melbourne, Victoria. It is regulated by the Australian Investments and Security Commission (ASIC).
- Licence Number 424700
TF Global Markets Pty. Ltd (South Africa): Located at 4th Floor, 96 Rivonia Rd, Dennehof, Sandton, 2196, South Africa, this entity of the broker is regulated by the Financial Services Conduct Authority (FSCA).
- FSP Number: 49835
ThinkMarkets Corporate Management Solutions (Cayman) Ltd.: With its office address at P. O. Box 799, Two Artillery Court, 2nd Floor, 161 Shedden Road, Grand Cayman KY1-1103, Cayman Islands, this entity of the broker is regulated by the Cayman Island Monetary Authority.
- FRN: 1612531
ThinkMarkets Ltd (Japan): This is the Japanese entity of the broker and it is located at 107-0052, Minato Ward, Akasaka 2-13-1 Lucent Akasaka 3F, Tokyo. It is regulated by the Japan Financial Services Agency (JFSA).
- License Number: 0250
ThinkMarkets (NZ) Ltd: Located at Baker Tilly Staples Rodway Auckland Ltd, 9th Floor, 45 Queen Street, Auckland, 1010, New Zealand, this entity of the broker is a member of the New Zealand Financial Markets Association.
- License Number: FSP623289
ThinkMarkets (DIFC) Ltd: Regulated by the Dubai Financial Services Authority, this entity has its office at South Tower, Emirates Financial Towers – Office 504-B 5th Floor – Trade Centre – DIFC – Dubai – United Arab Emirates.
- Registration Number: 7113
Aside from the regulators in these office locations, ThinkMarkets has a license from the Financial Services Commission.
ThinkMarkets Copy Trading
Copy-trading is a style of trading that’s suited for new investors who have no trading experience, allowing them to copy the trades of more experienced investors. ThinkMarkets allows you to set up an account on its copy trading platform from which you can view and copy the trades of other experienced traders. We will discuss this copy trading platform in more depth later on in this ThinkMarkets copy trading review, but let’s point out two things for now. First, the fees for copy trading are pretty high. Additionally, the minimum deposit for copy trading is about $100.
Markets
If you want to copy trade on the ThinkMarkets platform, there are about 4,000+ tradable assets available to you. They include forex pairs, commodities, shares, ETFs, indices, crypto, and futures – all of them CFDs. Here, we will briefly overview each of these trading instrument classes.
Share CFDs
ThinkMarkets offers access to a variety of international stock markets, enabling you to copy-trade, commission-free, in up to 3,500+ share CFDs. These include top-performing stocks like Alibaba, Meta, Amazon, and Goldman.
Forex
You can copy-trade up to 46+ forex pairs on ThinkMarkets; these include all major and minor pairs, as well as some exotic ones. The forex pricing is great, and the spreads are razor-thin – from 0.4 pips for standard accounts.
Index CFDs
The broker offers up to 14+ index CFDs at flexible pricing and variable spreads from 0.4 pips. They are essentially stocks grouped into indices like SPX500, NAS100, UK100, and AUS200. The application platforms offered make trading in these indices seamless and flexible.
Commodity CFDs
On ThinkMarkets, you can also copy-trade an array of commodity CFDs of different kinds. These are split between energy commodities like Brent crude, natural gas, and West Texas Intermediate and precious metals like gold, silver, and copper. All these hard and soft commodities you can copy-trade at zero commissions and tight spreads from 0.4 pips.
Cryptocurrencies
Cryptocurrencies are a highly volatile class of assets and are very risky to trade. However, ThinkMarkets’ copy trading allows you to more safely trade in these assets by following the lead of the top crypto traders on the platform. If you know how to copy crypto traders, you’ll be able to trade crypto-to-USD pairs like BTCUSD, ETHUSD, XLMUSD, and LTCUSD at consistently low spreads, 24/7.
Traders Rating
As we pointed out earlier in this review, ThinkMarkets only quite recently started offering copy trading services. Yet, it has become very popular and is one of the most active forms of trading on the platform. If you get on the platform, you will find that there are already thousands of highly-rated traders whose trades you can copy, the top ones having live returns in thousands of percentage points. Shortly after now, we will examine the details about some of these top traders; suffice it to say, however, that copy trading on ThinkMarkets is by no means an underperforming operation.
Pros and Cons of Copy Trading on ThinkMarkets
Here are the positive and negative sides of copy trading on ThinkMarkets.
Pros
- Variety of Trading Instruments.
- Mobile App Available.
- Has Proprietary Platforms.
- Market Insights and Updates.
- Chat with Traders.
- Inverse Copy Trading Available.
Cons
- High Copy Trading Fees.
- Few Payment Methods for UK Traders.
- Only Available on Mobile Device.
ThinkMarkets Top 5 Traders
ThinkMarkets ranks its copyable traders quite comprehensively and according to metrics that enable you to tell the risk and reward potential of the trader you’re copying. For example, traders are grouped according to drawdown levels, from high and medium to low. Additionally, you will find rankings for providers of new signals as well as free ones. In this section of our ThinkMarkets copy trading review, we will briefly explore some of the top traders according to the spotlight rankings, which show all the top-performing copyable traders overall. These will be The Holy Grail, SwissWay, Pentagon, Kamen Rider, and Ozra S.
The Holy Grail
‘The Holy Grail’ is a trading account that, from our assessment, appears to have been active since January 2023. The user has the highest live return rate of all the other traders, which is +3,969% as of the time of writing this article, and their realized returns are +5,438.85%. This user operates on a leverage of up to 1:500.
Altogether, The Holy Grail has placed up to 7,220 trades since they started on the platform, and the win rate on that stands at 93.82%. Up to 737 traders are copying the account and up to 1000+ subscribers. However, as you will find for most of these traders, the Holy Grail seems to trade forex exclusively, with GBP/USD making up 39.73% of their trades, GBPJPY making up 21.46%, EUR/USD making up 17.71%, EURAUD making up 13.28%, and others like EURCHF and USDJPY making up the rest.
SwissWay
With live returns up to +3,128.16%, realized returns up to +3,131.13%, and equity up to CHF1,744, SwissWay is the next best-ranking trader on ThinkCopy. The account also seems to have been active since January 2023 and has made up to 1,145 trades as of the time of writing this review. SwissWay is a pro trader in forex with a win rate of 73.20% and 49 ‘Expert Trader’ medals.
The account has over 377 copiers and about 109 followers, and their investments are spread out between EUR/CAD, EUR/GBP, EUR/USD, GBP/USD, and USD/CAD.
Pentagon
Pentagon’s trading account has been active since April 2023 and has gained 225 copiers and 339 followers. The realized returns of this trader don’t fall too far behind SwissWay and The Holy Grail, standing at +3,029%. Their charts show returns rising very rapidly between April and May 2023, eventually achieving some stability shortly after, spiking just a bit in August, stabilizing between then and late October, and taking a downturn in November. The equity for this account is $7,468.03, and the win rate is much higher than SwissWay at 91.34%.
The account is quite medal-encrusted, with 26 ‘Expert Trader’ medals, 2 ‘Double Ton’ medals, 21 ‘High Five’ medals, and several others.
Kamen Rider
Starting from its opening in January, Kamen Rider’s account has had a pretty eventful trading history thus far. With 433 trades executed and only 16 losses, the trader has a 99.03% win rate, nominally the highest so far. The realised returns follow a steady pattern of rising and stabilising from its January right up to October 2023, at the writing of this review, and they currently stand at +2,228.48%. The account has up to $2,420 in equity and a maximum drawdown balance of +2,271.80. Nearly half the investments here are in GBP/USD, with the rest including EUR/USD, EUR/AUD, USD/CAD, USD/JPY, and XAU/USD.
Ozra S
The fifth best-rated copyable trading account on ThinkCopy, Ozra S, has live returns of +1,705.05% and exactly the same percentage in realised returns. Unlike the other rated accounts, which have been trading since the platform launched copy trading, this account seems to have begun trading in late August 2023. And as of the time of writing this article, it has placed 448 total trades in only two currencies: EUR/USD (68.49%) and GBP/USD (31.51%). It also differs from the others by being the only one that trades with leverage up to 1:400 and that has yet to receive any medals for trading achievement. Still, Ozra S has an impressive win rate of 89.09%, having lost on only 24 trades. This account has the lowest equity of the 5, with just $144.17.
ThinkMarkets Copy Trading Fees
As we pointed out in the ‘cons’ section of this review, ThinkMarkets’ copy trading fees are quite high. The fee charged is a performance fee, which is generally a percentage of any profit you make, and the exact percentage depends on the trader you are copying. For example, copying the trades of any of the accounts we previously talked about will cost you 30% of any profits you make. The typical range for this performance fee is 20-30%, but the ceiling is 50%.
ThinkCopy
ThinkCopy is the name of ThinkMarkets’ copy trading platform, and it is only available for mobile devices like iOS and Android. However, that limitation aside, the platform is pretty seamless to use and easy to download. In this ThinkMarkets copy trading review section, we will examine all of ThinkCopy’s best features; then, we will show you how to open a copy trading account on the app and start copying trades.
ThinkCopy Mobile App
The ThinkCopy app is a mobile platform for iOS and Android users. Due to its excellent performance, it has overwhelmingly positive ratings on the Apple Store and Google Play Store. Let us have a look at the cool features it offers.
Activity
The Activity tab allows you to view your news feed, groups, and other recent activity on the platform.
Trade Search
The search interface on the ThinkCopy app doesn’t just feature a search bar; it also offers quick access results for different types of assets to make things easier for you.
Positions
This is a tab that you can tap on to view all your positions, whether open, closed, missed, or pending. It also shows your cash balance, equity, and live profit/loss.
Discover
The Discover page allows you to view the top 5 traders according to different metrics, and you can tap on ‘see all’ on each ‘top five’ group to see the greater list.
Accounts View
This page allows you to view your active copy trading accounts, as well as your percentage drawdown, signals, stats, and trade achievements.
How to Open an Account and Copy Trades on the ThinkCopy Mobile App
Before you can begin to copy trades on ThinkCopy, you first need to open an account with the platform. To do that, you only need to follow these simple signing-up steps.
- Click ‘Create account’ on the platform website and select ‘Create live account’ on the dropdown menu that shows up. You will be redirected to the page where you will input your nationality and email and set a password.
- Next, provide your personal information, including your name and date of birth.
- You will receive an email to verify your sign-up, and then you will have to verify your phone number with a code that will be sent to your inbox.
- Select ‘ThinkCopy’ from among the available options on the next page.
- Read all the legal documents provided on the next page and click ‘I confirm’ to proceed.
- Click on ‘Or complete profile’ to conclude your sign-up. You can also click on ‘Deposit now,’ although you can always do that later.
- Next comes your registration proper, and on the first page of it, you need to supply your address information.
- Choose the options most appropriate to you to indicate your level of trading experience.
- Select the appropriate option to indicate whether or not you live in the USA, and click on ‘Agree and Continue’ to proceed.
- Select a type of document to use for ID verification and select the country that issued that document.
- Add screenshots of your chosen ID documents on the next page and click ‘Next’ to finalise your registration.
After you complete your registration, the site will redirect you to the client portal, where you will see your new account-linking details. Now, you can start copy trading by downloading the app and following these steps.
- Open the app on your mobile phone and tap on ‘Log in.’
- Input your login details and tap on ‘Log in.’
- When the app interface opens up, you can link up your account by going to the Account tab and inputting the linking details you were given after registration. Once done, go find a trader you would like to copy and tap on their account.
- Tap on ‘Copy’ next to their profile image, tick all the boxes that apply to you, select a trade size, and tap on ‘Agree and copy.’
Inverse Copy Trading
Inverse copy trading is one of the best features of the broker. The idea of inverse copy trading is that it allows you to challenge the trade positions of a trader you are copying, opening your own positions in the opposite direction to theirs. Essentially, this feature introduces more depth and autonomy to your copy trading, and it is increasingly useful the more experience you gain. It is also a great way for relatively experienced traders who just want to avoid stress altogether via copy trading to still make sure they don’t copy positions they find questionable.
Is ThinkMarkets Copy Trading Safe?
Safety is an important feature for any online platform, and copy trading outfits like ThinkMarkets are no exception. In our review of ThinkMarkets’ safety, we found that the platform’s security is commendable. Though the platform does not explicitly offer a feature like ZuluGuard, it does vet its leaders and signal providers quite solidly via KYC verification. Moreover, it also has multi-factor security as an option for any trader wishing to secure their account further. Paired with the broker’s industry-grade encryption protocols, all these factors make ThinkMarkets copy trading pretty safe to trade with.
Online Reviews
In order to get a much clearer perspective on how usable the average trader finds ThinkMarkets’ copy trading, we will now consider some user sentiments from online. This section of our comprehensive review will gather sample opinions from Reddit, Quora, TrustPilot, and ForexPeaceArmy.
What Reddit Users Say About Copy Trading on ThinkMarkets
While there are two entries on ThinkMarkets copy trading on Reddit, there are not yet any reviews on it.
What Quora Users Say About Copy Trading on ThinkMarkets
There are no entries about ThinkMarkets copy trading on Quora.
TrustPilot User’s Review About Copy Trading on ThinkMarkets
We found remarks about ThinkMarkets on Trustpilot to be mostly positive; from a total of about 222 reviews, it has a great score of 4.2 stars. Some of the remarks commended the swift withdrawals for scalpers.
Others praise the demo trading, customer support, and the general working of the platform.
Still, there are a few complaints; for example, this trader is outraged about the spreads and slippage, finding them ridiculous and a risk to client funds.
However, it is worth noting that none of these remarks are specifically about the platform’s copy trading service; there don’t appear to be any comments on that for now.
ForexPeaceArmy User’s Review About Copy Trading on ThinkMarkets
There are 181 reviews of ThinkMarkets on ForexPeaceArmy, and they are significantly negative, though mostly positive. The overall rating is 3.2 stars; similar to Trustpilot, none of the comments here are directly about ThinkMarkets’ copy trading.
That said, some users do have quite a bit to complain about. For instance, this trader had an issue with proof of address, lost funds, and a disappointing customer support experience.
Others have had a better experience like this trader who commended both the customer support and ThinkZero spreads.
Bottom Line
So, what can we conclude about this platform from our ThinkMarkets copy trading review so far?
We find that copy trading on ThinkMarkets is a seamless affair, especially with the user-friendliness and easy accessibility of the app. There is the downside that the ThinkCopy app is not usable on PC, but that might change eventually. There is also the downside of high fees.
Since the ThinkMarkets platform is multi-regulated, it is a trustworthy trading option. Moreover, multi-factor security and other features make it a safe platform to copy trades on. You can also very easily assess the risk level of any trading account before copying its trades. And should you find that a trader you’re copying is entering positions about which you think otherwise, the inverse copy trading feature and interactivity between ThinkMarkets traders enable you not to follow blindly.