Trade Interceptor, one of the best forex trading applications in the world, was taken over by ThinkMarkets and renamed ThinkTrader in 2017. In our ThinkTrader review, we took a close look at the ThinkTrader mobile interface, its main features and why it is the best choice. ‘one of the main mobile trading applications.
Note that the app is available through the Trade Interceptor and ThinkTrader websites, as well as in Apple and Google Play stores under the name ThinkTrader.
Trade Interceptor was renamed ThinkTrader in 2017 (Image credit: Thinktrader)
ThinkTrader: What does it offer?
Since ThinkTrader took over Trade Interceptor, it has added a range of additional features, with the aim of becoming the primary mobile trading platform. It is available on Android and iOS devices, and in general is suitable for everyone, from complete beginners to seasoned traders.
In addition, ThinkTrader offers trading services in a range of areas, including forex, precious metals, indices, cryptocurrency, stocks, commodities and CFDs. Customers from more than 180 countries are accepted (notable exceptions are the United States, Japan, and Iran), and apps are available in all regions except the United States and Japan.
ThinkTrader reorganized the Trade Interceptor application with the express aim of becoming the main mobile trading platform (Image credit: ThinkTrader)
ThinkTrader: Opening an account
Opening a new ThinkTrader account is simple and shouldn’t take more than five to ten minutes. You will need to provide a significant amount of personal information, including your name, date of birth, nationality and address. After that, you will be asked to work through a short questionnaire about your knowledge and experience in trading.
In addition to that, you will need to select the trading platform, currency and leverage you want to use. Available platforms include Meta Trader 4 and 5, as well as the native ThinkInvest and ThinkTrader interfaces. Choose from eight base currency options and leverage up to 500: 1.
Finally, account verification is generally required in accordance with the regulations of your country. We created an Australian account and needed to upload a photo ID and proof of address. You may also need to take a short knowledge-based test before approving your account.
Opening a ThinkTrader account is quick, but you will need to provide verification documents (Image credit: ThinkTrader)
ThinkTrader: account types
There are six different ThinkTrader account types. To begin with, a neat demo account is available to test trading strategies and familiarize yourself with the platform before risking real money. The Standard and ThinkZero accounts are both perfect for starters and come with slightly different fee structures and exchange differences.
Additionally, Islamic clients can request a Sharia-compliant Islamic account. Two or more people can request a joint account if they wish, and experienced traders can take advantage of exclusive benefits and advanced leverage by requesting a ThinkMarkets Pro account.
There are six different account options (Image Credit: ThinkTrader)
As one of the best mobile trading apps in the world, ThinkTrader is naturally supported by an impressive range of advanced features. For starters, the entire trading experience is streamlined and user-friendly for beginners. But this ease of use is not at the expense of advanced capabilities.
For example, users will be able to access a suite of technical analysis tools. Live charts are available for most currency pairs, precious metals, popular cryptocurrencies and over 1000 stocks, among others. You can select from ten types of charts, including the bar, the broken line and the Japanese candlestick. All graphs can be enlarged, scrolled and overlaid with one of 100 technical indicators and / or 40 analytical objects.
In addition, the ThinkTrader app supports cloud-based alerts, which means that you will receive notifications even when it is not running. Deposits and withdrawals built into the app are also available once your account is approved, and you can keep up to date with the latest financial news via the built-in news portal.
Another remarkable tool is the one-click control option. This allows you to access order processing almost instantly rather than wasting time confirming orders. Several positions can also be closed with a single click. And finally, the Trend-Risk Scanner is a powerful native tool that provides information on recommended trades.
The ThinkTrader mobile application is neat and has a wide range of advanced features (Image credit: ThinkTrader)
The ThinkTrader support team is competent, quick and efficient. Live chat and 24/5 email support are available worldwide, while phone support is available in some countries (UK and Australia, among others). We briefly tested the live chat and got in touch with an agent almost immediately. They answered our questions quickly and accurately, and you can’t ask for much more than that. An impressive range of self-help articles and other resources is also available.
ThinkTrader Live Chat Support is Fast and Efficient (Image Credit: ThinkTrader)
ThinkTrader: final verdict
ThinkTrader (formerly known as Trade Interceptor) is up there with the best mobile trading apps, and for good reason. It is a professionally designed platform that is accessible in most countries of the world and offers an excellent trading experience.
The native ThinkTrader mobile app is supported by advanced features and makes trading on the go easier than ever. On top of that, the graphing tools that are built into the app are really impressive, with candlestick support and great customization.
Overall, ThinkTrader is a viable option for beginners and advanced traders. And on top of everything else, it should be noted that the native desktop interface is also very powerful.
ThinkTrader: the competition
Mobile trading applications are becoming increasingly popular and ThinkTrader no longer stands out as an undisputed industry leader. Pocket Forex is a popular alternative, which supports 24/7 trading in a wide range of markets with leverage 50 to 1,000 times. Another major competitor is Oanda, which has the advantage of being available to American and Japanese customers.
- Check out our guide to the best forex trading apps