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ThinkMarkets review Australia: ASX share trading from $8 | Finder

Note: This review is for ThinkMarkets share trading account only. For information on fees and features related to its CFD account, head to our ThinkMarkets CFD and forex review page. ThinkMarkets is an online share trading, forex and CFD broker headquartered in London, United Kingdom with offices located in Melbourne, Australia. Although it has traditionally…

Note: This review is for ThinkMarkets share trading account only. For information on fees and features related to its CFD account, head to our ThinkMarkets CFD and forex review page.

About ThinkMarkets

ThinkMarkets is an online share trading, forex and CFD broker headquartered in London, United Kingdom with offices located in Melbourne, Australia. Although it has traditionally been a forex and CFD broker, it launched a share trading option in Australia in August 2020 under the “Cash Equities” platform.

The ThinkMarkets share trading account offers Australian shares and exchange traded funds (ETFs) listed on the Australian Securities Exchange and Chi-X. In order to trade CFDs and forex, you’ll need to apply for a new CFD account; however, you can switch between the two accounts under the same login.

What are the key features?

ThinkMarkets has an easy-to-navigate and clean mobile share trading app. While minimal, it covers most of the basic requirements you look for in a share trading app, including conditional orders, watchlists, stock alerts and portfolio tracking. The main downside is that it does not include live pricing, even at an extra cost.

Low fees

Brokerage starts at $8 for ASX-listed stocks and ETFs, which is on the lower end of the scale. Importantly, ThinkMarkets doesn’t charge any monthly account fees, subscription fees or inactivity fees if you don’t place any trades within a certain time frame.

Quick sign up

While the registration process can take up to two weeks with some brokers, you can sign-up for a share trading account on ThinkMarkets within just a few minutes.

CHESS-sponsored shares

Shares are CHESS-sponsored under your personal HIN meaning your ownership of the shares is kept on record by the ASX. Being registered on the ASX CHESS system means that you can track all your holdings under the one identification number (HIN) rather than multiple reference numbers across different share registries.

24/5 customer support

You can access live chat help at any time of the day Monday to Friday as well as phone and email support during office hours.

What are ThinkMarkets’ costs?

ThinkMarkets has relatively low brokerage fees, especially compared to the major banks’ share trading platforms. There are also no subscription, monthly or inactivity fees, so you won’t be charged for an inactive account.

Brokerage fees

ThinkMarkets charges $8 brokerage for trades up to $200,000 and 0.05% for trades above that. This fee structure makes them particularly competitive for people looking to invest higher amounts.

For instance, if you bought $20,000 worth of shares in a company and sold $20,000 in another company, you’d pay just $16 in total on ThinkMarkets. Whereas with CommSec (Australia’s largest broker), you’d pay $59.90 total.

Other account fees

ThinkMarkets’ fee structure is minimal. There are no inactivity fees and no subscription fees to access the share trading platform. You’re not charged a fee when you top up your account, and there is no fee to transfer holdings on to ThinkMarkets.

What markets can you trade?

You can only access Australian-listed shares and exchange traded funds (ETFs) on the ASX and Chi-X through the share trading account. There are no international shares and you cannot trade options

If you decide to sign up for a CFD account, you can trade forex, indices, commodities, metals, stock CFDs, ETF, CFDs and futures.

Trade options

You have the option of using a basic market order or two conditional orders:

  • Market to Limit: A market order that converts to a limit order at the best opposing price on entry
  • Limit: An order instruction to buy or sell a stock at a specific price.

As with most other share trading platforms, the minimum investment is $500 per Australian company or ETF. You may link a margin account if you choose, but it must be among the providers approved by ThinkMarkets.

There is no live data available on ThinkMarkets at this stage.

What account types are available?

There’s only one account available for share trading and there are three account options for CFD trading, including a demo account.

  • Share trading: Trade ASX- and CHI-X-listed shares starting at $8 a trade.
  • CFD demo version: A free trial version is available with $10,000 in practice funds to play with for 30 days.
  • CFD standard: You can open the basic account with no minimum deposit required and spreads starting at 0.4 pips.
  • CFD ThinkZero: You get tighter spreads using the ThinkZero account, though you’ll also need to pay a commission fee of $7 forex and there’s a minimum $500 deposit to open the account.
  • CFD Islamic account: A Sharia compliant account that offers a limited selection of currencies.

What customer support options are available?

My customer service experience was positive. The live chat responses I received were quick and detailed, plus the person I spoke to over the phone when I signed up was friendly and easy to chat to. Support staff seemed to have a good understanding of the Australian share market and went out of their way to assist.

Support options:

  • Live chat
  • Phone
  • Email

News and training material

ThinkMarkets has a good selection of material for new traders, with training and basic how-to guides. More extensive educational material is offered once you sign up.

ThinkMarkets’ proprietary ThinkTrader platform (CFDs only) also offers a news service powered by financial analysis provider FXWirePro. There’s no news source available for share trading accounts and there are no broker ratings.

How do I open an account with ThinkMarkets?

You can apply for a share trading account by downloading the ThinkTrader app onto your iOS or Android phone and selecting “EQs Shares”. The share trading platform is not yet available for desktop.

If you already have a CFD account, you’ll need to reapply for a separate share trading account after logging in. Once you have both accounts set up, you can navigate between the two using the same login details. You’ll need to provide the following identification details:

  • Name
  • Home address
  • Mobile number

The sign-up and approval process takes just a few minutes, and you have the option to open an individual, joint, SMSF or corporate account.

Deposit methods: Bank transfer (POLi Payments).

ThinkMarkets FAQs

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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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