ThinkMarkets – what we know and have as facts about it; ThinkMarkets is a trade name of the group of companies that includes TF Global Markets (UK) Limited, which is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 629628; TF Global Markets (Aust) Limited, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 424700; TF Global Markets (South Africa) (Pty) Ltd, which is authorized and regulated by the Financial Sector Conduct Authority (FSCA) under license number 49835; Think Capital Limited is registered in Bermuda with the company number 51879. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Terms of Business document that ThinkMarkets will deal with clients as principal under the agreement and not as an agent on client’s behalf. This means that any trades are agreed directly between clients and the company and it will be the counterparty to all of client trades. This means that ThinkMarkets acts as a market maker and this arises a conflict of interest. Market makers do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about extremely wide spreads, poor customer support, most customers are served by their company in Bermuda, so you do not have FCA or ASIC protection.
So far, we have not received any complaints from customers of ThinkMarkets. If you have any criticism to share with us or feel annoyed by ThinkMarkets, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and ThinkMarkets if you wish.