As multiple times confirmed, the Forex business is present everywhere and traders can be found in every country (almost in every larger neighborhood). The industry is interwoven on many levels, and one can barely tell the difference between the markets since they all merge into one global market. Australia and New Zealand can also be seen as important strategic locations for the Forex brokerage business since they, either have their own native Forex companies or they simply serve as offshore destinations for the big Forex companies coming from Hong Kong, England, USA, etc. New Zealand especially, is the offshore target for many brokers who hope to come around one or two laws since New Zealand’s regulation is far looser than in the EU, America, or Australia.
Forex Brokers We Recommend
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Background Check
ThinkForex is a broker who comes from both, New Zealand and Australia. It started out in New Zealand in 2010/2011 and shifted its main seat to Australia in 2012. In Australia, the broker had first to get an ASIC license. The Australian Securities and Investment Commission (ASIC) ranks as high as the British FCA in terms of performance and powers vested. The Australian regulator makes sure that the Australian market is safe from any kind of illegal activities and that traders are enabled to trade in a safe environment. The ASIC also keeps a list of all banned companies it stripped off the ASIC license and regularly encourages people to come forth and share any misdealing in the market. ThinkForex, ambitious as it is, also secured the UK license to operate freely from the UK as well. ASIC and the British FCA foster a similar policy, so it was not a big change for the ThinkForex broker to adjust to the rules and regulations of the FCA. Both regulators do their best to keep fraudsters out of the picture and to secure traders’ funds from greedy scamming hands.
Platforms
ThinkForex is the living proof that the MT4 platform is also the favorite platform outside Europe. The broker swears on the performance of the platform just like many others and includes the Meta Trader 4 as the only platform in the service package. The MT4 is indeed the best-performing, multi-awarded (just like the broker) platform that fits the needs of so many. It is like a bestseller novel which speaks from the heart of many, the unique and single voice of the trading community. The MT4 offers different features and meets even the demanding expectations of professional traders who need the extra tools and features which the MT4 offers. If you are more of an on the move trader, then, do not miss out on downloading the equivalent ThinkForex mobile app with live stream and trading signals (just like the computer version).
Account Types with ThinkForex
The broker offers 3 standard accounts, a pattern we already have seen with European brokers. The accounts rank as follows:
- The Standard account ($250 min. deposit)
- The VIP account ($2,000 min. deposit)
- The Premium account ($25,000 min. deposit)
The Standard and VIP account have several similarities, like the same leverage 1:500 and the same required minimum trade size 1.0 (100k). The difference is that the Standard account can be accessed with a $250 deposit, while the VIP account requires $2,000. The VIP account also offers ECN services and charges a commission of $3 units per side. The Premium account also comes with the same leverage, but the entry ticket or minimum deposit is $25,000. The account charges a commission which is not fixed and can be negotiated with the broker by calling the customer support.
ThinkForex Bonus Offers
The broker offers different promotions which take the shape of a bonus as we know it. For example, the broker offers 50% on the deposit you make and can reach the amount of $500. To apply for this kind of bonus, a deposit of $250 is required. Nevertheless, this is not a full-time offer, but limited edition, so that you will have to wait for another promo from the respectable broker. Our team would also kindly recommend reading the Bonus Terms and Conditions before applying for a bonus in order to avoid any misunderstandings.
Baking Options
The broker who operates from a distant place has to have plenty of payment methods at disposal, and ThinkForex really has. The broker offers the traditional bank transfer and credit cards, as well as Global Collect, Skrill, Neteller, BPay, UnionPay, and Netbax. Some of these methods include high fees, and traders should definitely check on which method is the most affordable.
Customer Support
ThinkForex provides for all contact methods from phone to live chat, and the staff is available around the clock. The broker also provides educational resources which can help solve one or the other dilemma concerning trading decisions. Nevertheless, in case of urgency, you can contact the support team who are known for their fast reply policy.