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Do you want to know which is the better broker between ThinkMarkets and GMI ?
In the table below, you can compare the features of ThinkMarkets , GMI side by side to determine the best fit for your needs.
EURUSD: 0.6
XAUUSD: 0.1
Long: -7.76
Short: 0.68
Long: -31.03
Short: 14.5
Long: -5.22
Short: 1.52
Long: -0.02
Short: 0.01
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of thinkmarkets, gmi lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Australia |
Regulatory status | FCA of the United Kingdom, CYSEC of Cyprus, ASIC of Australia and FSA of Seychelles. |
Year(s) of incorporation | 10-15 years |
Market instruments | Currency pairs, stocks, commodities, precious metals, energies, indices, cryptocurrencies... |
Minimum initial deposit | $500 / $0 |
Maximum leverage | 1:500 |
Minimum spread | From 0.0 pips |
Trading platform | MetaTrader5, MetaTrader4, proprietary platform |
Deposit and withdrawal methods | Credit/debit cards, skrill, neteller, cryptocurrencies |
Customer Service | E-mail/phone number/address/live chat |
Fraud allegations | Not yet |
This is a promotional video provided by the ThinkMarkets YouTube channel.
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
- It offers a wide variety of financial instruments for trading.
- It has several trading platforms, including MetaTrader4, MetaTrader5 and ThinkTrader.
- It offers a ThinkZero account with ultra-low spreads and high execution speed.
- The customer service team is multilingual and available 24/7.
- It has a wide range of educational resources for traders.
- It does not charge commissions for deposits or withdrawals.
Cons:
- Fees on the ThinkZero account can be high.
- The minimum deposit for the ThinkZero account is $500, which may be an obstacle for some traders.
- The standard account has wider spreads than the ThinkZero account.
- The regulation of the company is not clearly specified.
- Educational resources may be too basic for advanced traders.
Dimension | Advantages | Disadvantages |
Broker Model | ThinkMarkets offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' transactions, ThinkMarkets has a potential conflict of interest that can lead to decisions that are not in the best interest of clients. |
ThinkMarkets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, ThinkMarkets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of offering leverage. However, this also means that ThinkMarkets has a certain conflict of interest with its clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interest of their clients. It is important for traders to be aware of this dynamic when trading with ThinkMarkets or any other MM broker.
ThinkMarkets is a forex and CFD broker founded in Australia in 2010. The company has multiple regulations, including the UK FCA, Cyprus CYSEC, Australia ASIC and Seychelles FSA. This means that traders can be confident that ThinkMarkets meets strict safety and regulatory standards in all jurisdictions where it operates.
Advantages | Disadvantages |
Wide variety of trading instruments available | Does not offer trading in some specific markets |
Includes cryptocurrencies, stocks, indices and futures. | Some instruments have a higher than average spread |
Access to international markets with a single account | Batch sizes vary according to the instrument |
Portfolio diversification and hedging opportunities | Trading of some instruments may be limited |
ThinkMarkets offers a wide variety of trading instruments, including currencies, indices, energy, precious metals, cryptocurrencies, stocks, exchange-traded funds and futures. Traders can access international markets from a single account, providing the opportunity to diversify and protect their portfolios.
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However, some instruments may have a higher than average spread, and lot sizes may vary from instrument to instrument. In addition, trading of some instruments may be limited in certain geographic regions. Overall, the wide range of trading instruments available is an important advantage of ThinkMarkets, but it is important to be aware of the possible limitations and additional costs associated with some instruments.
Advantages | Disadvantages |
Standard account without commissions | Higher spreads on standard account |
Low spreads on ThinkZero account | Commission on ThinkZero account |
Account options for traders of any level | Minimum deposit of $500 in ThinkZero account |
At ThinkMarkets, the costs associated with trading vary depending on the type of account. On the standard account, the average spread is 1.2 pips and there are no commissions, which makes it a good choice for beginner traders or those looking for a low-cost account. On the other hand, in the ThinkZero account, the average spread is 0.1 pips, but a commission of $3.5 per side is charged, which makes it more suitable for more experienced traders and larger scale trades.
Advantages | Disadvantages |
Standard Account: low minimum deposit | Standard Account: higher spreads |
Standard Account: no commissions | ThinkZero Account: high minimum deposit |
ThinkZero account: tight spreads | ThinkZero Account: commissions |
ThinkZero account: maximum lot size | |
Both accounts: leverage of 1:500 | |
Both accounts: 24/7 customer service |
ThinkMarkets also offers a demo account for traders to test the platform and its services without risk.
ThinkMarkets offers its clients two trading account options: the Standard Account and the ThinkZero Account. The Standard Account is suitable for beginner traders or those who wish to trade with a low minimum deposit without having to worry about commissions. This account offers average spreads of 1.2 pips and does not charge commissions on trades. On the other hand, the ThinkZero Account is ideal for more experienced traders looking for tight spreads and low trading costs. This account has average spreads of 0.1 pips and charges a commission of $3.5 per lot traded. Both accounts have leverage up to 1:500 and offer 24/7 customer support via live chat, email and phone.
Advantages | Disadvantages |
MetaTrader4 is a widely used trading platform with a wealth of technical analysis resources. | MetaTrader4 is not the most advanced trading platform available on the market. |
MetaTrader5 offers additional features, such as the ability to trade futures and options. | MetaTrader5 may have a steeper learning curve for new traders |
ThinkTrader is ThinkMarkets' proprietary trading platform, designed to provide a superior trading experience. | ThinkTrader may have fewer technical analysis resources compared to MetaTrader4 and MetaTrader5. |
All three trading platforms offer fast and reliable execution of trades. | By offering three different platforms, it can be overwhelming for traders to choose the right platform for their needs. |
ThinkMarkets offers its clients three different trading platforms: MetaTrader4, MetaTrader5 and ThinkTrader. MetaTrader4 is one of the most widely used trading platforms in the world and has earned a great reputation due to its ease of use and wide range of technical analysis tools and resources. MetaTrader5 is the most advanced MetaTrader trading platform, with additional features such as the ability to trade futures and options. ThinkTrader, on the other hand, is ThinkMarkets' proprietary trading platform, designed to provide a superior trading experience with advanced features, an intuitive interface and full customization.
Advantages | Disadvantages |
Possibility of making significant profits with a low initial investment | Increased risk of significant losses if the market moves against the trader |
Increases flexibility and trading opportunities | Increased exposure to market risk and unexpected events |
Allows traders to diversify their trading portfolio | Can lead to over-leveraging and over-exposure to risks |
Allows traders to maximize their earning potential in favorable market conditions | Requires adequate risk management to avoid significant losses |
Ideal for experienced traders who can handle high level of risk | Not suitable for inexperienced traders or traders who do not fully understand the risk associated with leverage. |
Leverage is an important tool in forex trading, as it allows traders to increase their buying power and have access to greater trading opportunities. At ThinkMarkets, the maximum leverage offered is 1:500, which means that traders can control a position up to 500 times the size of their account. However, it is important to note that high leverage also carries a higher risk, as the potential losses are also multiplied by the same proportion. Therefore, it is important that traders understand the risks associated with high leverage and use appropriate risk management tools when trading with high levels of leverage.
Advantages | Disadvantages |
Multiple deposit and withdrawal options, including bank transfer, credit/debit cards, cryptocurrencies and e-wallets such as Skrill and Neteller. | ThinkMarkets may pass on charges from third-party vendors to customers, which could result in additional costs. |
ThinkMarkets does not normally charge commissions for deposits or withdrawals. | Third party payments are not allowed. |
ThinkPortal allows up to 24 transactions between transfers in a 2-hour period, which can be convenient for customers who need to make multiple transactions quickly. | |
Withdrawal requests are typically processed within 24 hours during the week, which can result in a fast and efficient experience for customers. |
ThinkMarkets offers multiple deposit and withdrawal options for its clients, including bank wire transfer, credit/debit cards, cryptocurrencies and e-wallets such as Skrill and Neteller. Third-party payments are not allowed and ThinkMarkets does not normally charge deposit or withdrawal fees. In addition, ThinkPortal allows up to 24 transactions between transfers in a 2-hour period, which can be convenient for customers who need to make multiple transactions quickly. Withdrawal requests are typically processed within 24 hours during the week, which can result in a fast and efficient experience for customers. However, ThinkMarkets may pass on charges from third party providers to customers, which could result in additional costs.
ThinkMarkets offers a wide range of educational resources to its clients, including news, technical analysis, webinars, articles and more. These resources are available for free and are of high quality, which can be very useful for traders of all experience levels. In addition, the platform offers tools such as charts and an economic calendar that can help traders make informed decisions in the market. It also offers a structured and organized section in the form of courses, which can be an advantage for novice traders looking for more structured guidance. In addition, while the educational resources are accessible to all ThinkMarkets clients, there is no online community for traders to interact and share experiences.
Advantages | Disadvantages |
24/7 multilingual support | No waiting time specified in live chat |
Various forms of contact (e-mail, phone, live chat) | No support through social networks |
Support available for technical and account issues | It is not specified whether there is a dedicated team for trading or financial education questions. |
ThinkMarkets offers robust and accessible customer service through a variety of channels, including email, telephone and live chat, all available 24 hours a day, 7 days a week. The availability of multilingual support is especially helpful for customers around the world. In addition, the support team is trained to handle a wide range of problems, including technical and account issues. However, the wait time on live chat is not specified, which can be a source of frustration for some customers. In addition, there is no social media support and it is not specified whether there is a dedicated team for trading or financial education questions.
In summary, ThinkMarkets is a multi-regulated forex and CFD broker that offers a wide range of trading instruments with competitive spreads. The company also offers an advanced trading platform, 24-hour customer support and educational resources to help traders improve their trading skills and knowledge. If you are looking for a reliable and experienced broker in the market, ThinkMarkets is an excellent option to consider.
Question: How can I open an account with ThinkMarkets?
Answer: You can open an account with ThinkMarkets through their official website. Simply click on “Register” and follow the steps provided.
Question: What types of accounts does ThinkMarkets offer?
Answer: ThinkMarkets offers two types of accounts: the standard account and the ThinkZero account.
Question: What payment methods are available for depositing and withdrawing funds into my account?
Answer: Available payment methods include bank transfer, credit/debit cards (Visa and Mastercard), cryptocurrencies, Skrill and Neteller.
Question: What assets can I trade at ThinkMarkets?
Answer: ThinkMarkets offers a wide variety of financial instruments, including currencies, indices, energy, precious metals, cryptocurrencies, stocks, exchange-traded funds and futures.
Question: What is the maximum leverage offered by ThinkMarkets?
Answer: ThinkMarkets offers a maximum leverage of 1:500.
Question: What educational resources are available on ThinkMarkets?
Answer: ThinkMarkets offers a wealth of educational resources such as news, economic calendar, technical analysis, webinars, articles, glossary, indicators, charts and reports.
Question: What security measures does ThinkMarkets have in place to protect my funds and personal data?
Answer: ThinkMarkets uses state-of-the-art encryption technology to protect your personal and financial data. In addition, your funds are held in segregated accounts to ensure their safety in the event of company insolvency.
GMI Review Summary in 10 Points | |
Founded in | 2009 |
Headquarters | UK |
Regulation | FCA |
Market Instruments | forex, indices, gold, oil, silver |
Demo Account | Available |
Social Trading | Yes |
Leverage | 1:2000 |
EUR/USD Spread | 0.0 pips |
Trading Platforms | MT4 |
Minimum deposit | $15 |
Customer Support | 24/5 email and live chat |
GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. It also provides the popular MetaTrader4 (MT4) platform.
GMI (Global Market Index) is a forex and CFD (contract for difference) broker, operating as a No Dealing Desk (NDD) broker with Straight Through Processing (STP) and Electronic Communication Network (ECN) execution models.
GMI appears to have a number of strengths, including its low minimum deposit requirement, tight spreads, various account types, social trading solution, and competitive leverage. However, a limited range of trading instruments, educational resources, research and analysis tools may concern some traders.
Pros | Cons |
• Regulated by FCA | • Limited range of trading instruments |
• Wide range of account types | • Inactivity fee after 90 days of inactivity |
• Commission-free trading | • Limited educational resources |
• Negative balance protection | • Limited research and analysis tools |
• Social trading feature supported |
Note: The pros and cons listed above are not exhaustive and may vary based on individual preferences and circumstances.
Overall, potential clients of GMI should conduct their own research and carefully consider the advantages and disadvantages before deciding to trade with this broker.
GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk. It is important for traders to do their own research and due diligence before deciding to trade with any broker.
In the table below, these measures show that GMI takes the safety and security of its clients seriously and works to provide a secure trading environment.
Protection Measures | Description |
Regulation | FCA |
Client Fund Segregation | GMI holds client funds in separate accounts from its operational funds to ensure that they are protected in case of bankruptcy or insolvency |
Negative Balance Protection | Clients can not lose more than their account balance |
Security Protocols | Protect clients' personal and financial information, including SSL encryption, two-factor authentication, and firewalls |
Investor Compensation Fund | Provides up to £85,000 of compensation to eligible clients in case of GMI's insolvency |
Based on the information available, GMI is regulated by the Financial Conduct Authority (FCA) in the UK, which oversees the company's compliance with financial regulations and standards. The company also claims to implement safety measures, such as negative balance protection and the use of segregated client accounts, to ensure the safety of its clients' funds.
As with any financial services provider, there is always a level of risk involved, and it is essential to do your due diligence and conduct thorough research before choosing a broker.
GMI offers a variety of trading instruments across different asset classes, including:
Forex: GMI offers a wide range of forex currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
Indices: GMI offers trading on major stock market indices such as the S&P 500, NASDAQ, and FTSE 100, as well as a range of other international indices.
Gold: GMI offers spot trading in gold, which allows traders to speculate on the price of the precious metal without taking physical delivery.
Oil: GMI offers spot trading in oil, including Brent Crude and US Crude.
Silver: GMI offers spot trading in silver, which is another popular precious metal among traders.
However, other popular asset classes such as stocks and cryptocurrencies seem to be not available. Overall, GMI provides traders with many trading instruments to choose from, enabling them to diversify their portfolios and potentially capitalize on different market conditions.
GMI offers four types of live trading accounts: Cent, Standard, Standard Bonus, and ECN accounts.
Cent Account: This account is ideal for beginner traders who want to start with a small investment. The minimum deposit requirement for this account is just $15.
Standard Account: This account is suitable for more experienced traders. The minimum deposit requirement for this account is $25.
Standard Bonus Account: This account is similar to the standard account but comes with an additional bonus on deposits. The minimum deposit requirement for this account is also $25.
ECN Account: This account is designed for professional traders who want to trade with the lowest spreads possible. It offers raw spreads starting from 0 pips. The minimum deposit requirement for this account is $100.
Risk-free demo accounts and swap-free Islamic accounts are also available at GMI.
According to the GMI website, the maximum leverage offered is up to 1:2000. It's important to note that using high leverage comes with higher risks, and traders should always understand the potential risks and manage their trades accordingly.
GMI offers spreads from 0.0 pips. It's important to note that spreads may vary depending on market conditions and liquidity. Traders may also be subject to additional fees such as swaps and overnight financing charges.
Regarding the commission, it varies depending on the type of account. There is no commission charged on the Cent, Standard, Standard Bonus accounts, while the commission for the ECN account is $4 per lot.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
GMI | 0.0 pips | No ($4 per lot for the ECN account) |
XM | 0.6 pips | No |
FXTM | 0.1 pips | No |
HotForex | 1.2 pips | No |
Pepperstone | 0.1 pips | AUD $7 per lot (round turn) |
IG | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility. It's always a good idea to check with the broker directly for the latest information on their spreads and commissions.
GMI offers its clients the popular MetaTrader 4 trading platform, which is available for Windows, Mac, iOS, Android and Web. The platform includes a variety of tools and features for technical analysis, order management, and customization. It also supports automated trading with the use of Expert Advisors (EAs).
See the trading platform comparison table below:
Broker | Trading Platforms |
GMI | MetaTrader4 |
XM | MetaTrader4, MetaTrader5, XM WebTrader |
FXTM | MetaTrader4, MetaTrader5, FXTM Trader |
HotForex | MetaTrader4, MetaTrader5, HotForex WebTrader |
Pepperstone | MetaTrader4, MetaTrader5, cTrader |
IG | MetaTrader4 |
Note: The information in this table is subject to change and may not be exhaustive. It is recommended to visit each broker's website for the latest information on their trading platforms.
GMI offers social trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's social trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.
Users from different countries can fund with different methods. Just take an example of Malaysian users, they can fund their accounts via Local Bank Transfer, Neteller and Skrill.
The minimum deposit is $15 for Local Bank Transfer, and $10 for Neteller and Skrill. The minimum withdrawal is 50 MYR for Local Bank Transfer, and $10 for Neteller and Skrill.
No deposit fees are charged while withdrawal fees vary on the payment method. For example, there is no withdrawal fee for Local Bank Transfer, while a 4% withdrawal fee for Neteller and Skrill.
As for the processing time, all deposits and most withdrawals are instant, while Local Bank Transfer withdrawals may be slower, usually can be processed between 8am to 6pm daily.
GMI | Most other | |
Minimum Deposit | $15 | $/€/£100 |
The process for withdrawing funds from GMI may vary depending on the method used for the deposit. However, in general, you can follow these steps:
Step 1: Log in to your GMI account.
Step 2: Click on the “Withdrawal” option in the menu.
Step 3: Select the preferred withdrawal method from the available options.
Step 4: Fill out the withdrawal form with the required details.
Step 5: Submit the withdrawal request.
GMI may require additional verification documents before processing the withdrawal request. The time it takes for the withdrawal to be processed and the funds to be received may also depend on the chosen withdrawal method.
GMI charges various fees to its clients, including:
Overnight Financing: GMI also charges an overnight financing fee on positions held overnight. This fee varies based on the instrument traded, the account type, and the prevailing interest rates in the market.
Inactivity Fee: GMI charges an inactivity fee of $50 per quarter for accounts that have been inactive for more than 90 days.
Other Fees: GMI may charge other fees related to account maintenance, data feeds, and other services. These fees are disclosed in the account agreement and may vary depending on the client's location and account type.
It's always recommended to review the complete fee schedule and terms and conditions on the broker's website or by contacting their customer support team.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
GMI | Free | Free | $50/quarter if no activity for 90 days |
XM | Free | Free | $15/month after one year of inactivity |
FXTM | Free | Free (except bank wire) | $5/month after six months of inactivity |
HotForex | Free | Free (except bank wire) | $5/month after six months of inactivity |
Pepperstone | Free (except credit card) | Free (except bank wire) | $0 after 12 months of inactivity |
IG | Free (except bank transfer) | Free | $18/month after two years of inactivity |
Please note that fees may vary based on account type, payment method, and other factors. It's important to check with each broker directly for the most up-to-date and accurate fee information.
GMI provides customer support to its clients through various channels, including email and live chat. Customer service is available 24/5, which means that traders can get in touch with the company's representatives during business days. GMI's customer support team is multilingual, which is helpful for clients who speak languages other than English.
You can also fill in the online contact form to get in touch with GMI. However, the availability and quality of customer support may vary depending on the specific region and the volume of inquiries.
Pros | Cons |
• 24/5 customer support via phone, email, chat | • No 24/7 customer support |
• Personal account managers | • No physical offices in some regions |
• Multilingual support | • No social media support |
• Quick response time |
Note: Pros and cons may vary based on individual experiences and opinions.
Based on the analysis of GMI, it is a regulated and reputable broker that offers the low minimum deposit requirement, competitive spreads and commissions, and a choice of different account types, as well as good customer support.
One potential downside of GMI is its limited range of trading instruments and educational resources. Additionally, it offers only one trading platform-MetaTrader4. MetaTrader5 is not available.
Overall, GMI is a solid option for traders who prioritize MT4, demo trading and competitive pricing.
Q 1: | Is GMI regulated? |
A 1: | Yes. GMI is regulated by Financial Conduct Authority - FCA. |
Q 2: | Does GMI offer demo accounts? |
A 2: | Yes. GMI offers demo accounts with $10,000 virtual capital. |
Q 3: | Does GMI offer industry-standard MT4 & MT5? |
A 3: | Yes. GMI supports MT4. |
Q 4: | What is the minimum deposit for GMI? |
A 4: | The minimum initial deposit at GMI to open a Cent account is just $15. |
Q 5: | Is GMI a good broker for beginners? |
A 5: | Yes. GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive thinkmarkets and gmi are, we first considered common fees for standard accounts. On thinkmarkets, the average spread for the EUR/USD currency pair is From 0 pips, while on gmi the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
thinkmarkets is regulated by ASIC,FSA,FCA,CYSEC,FSA,FSCA. gmi is regulated by FCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
thinkmarkets provides trading platform including ThinkZero,Standard and trading variety including --. gmi provides trading platform including Standard Bonus,Standard,Cent,ECN and trading variety including --.