ThinkForex has officially announced its rebranding to ThinkMarkets. In tandem with the move, the company is also launching its own proprietary trading platform called ThinkTrader. The new solution supports multi-asset trading and is available both on desktop and mobile. The company has also kept its MT4 offering for clients which are committed to the most-popular platform in FX.
ThinkTrader was developed entirely in-house with traders getting access to an HTML 5 based platform and a native mobile interface on both Android and iOS. ThinkTrader execution is hosted on the Equinix LD5 and NY4 facilities. The solution is also compatible with chart analytics software suite Autochartist.
The company also has plans to offer its proprietary trading platform as a white label solution
The effort comes amid an ongoing evolution of forex brokerages into multi-asset trading providers. The additional asset classes which modern traders demand have been pushing a number of brokerages which started with offering only foreign exchange trading into provision of multiple asset classes. The company also has plans to offer its proprietary trading platform as a white label solution.
The initial demand from traders over recent years has spread from mainly forex into commodities and indices. At present, the next step in the evolution of the trading industry is the addition of trading on CFDs on stocks. With the ever-growing interests of traders, multi-asset trading solutions are the future of the industry, with ThinkMarkets looking to establish its brand beyond forex trading.
The rebranding effort which ThinkForex has engaged on has been known for a while, with Finance Magnates speaking exclusively with the CEO and Co-Founder of the company, Nauman Anees.
The What is the main reason for the rebranding?
ThinkForex was originally started as an MT4 only broker only offering a few FX pairs. Our main source of business have been a handful of introducing brokers which were promoting us. Fast forward to today and we are regulated by the FCA, hold an Australian Financial Services (AFS) license, offer not only FX but also indices, metals and energy.
Most importantly we now have our new platform called ThinkTrader. It is a giant leap forward for us coming from an only MT4 experience that will allow us to expand into equities, options and other assets. We are the first broker that we know of that has launched their own platform coming from MT4 and the rebranding was important to explain that. Hence we decided to change the Forex into Markets and called it “ThinkMarkets”.
Will there be any fundamental differences between ThinkForex and ThinkMarkets in terms of the offering?
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Of course, the key difference will be the platform as it is only offered on the thinkmarkets.com website. Most importantly on ThinkMarkets we offer reduced spreads, better rebates and more services to traders who are using ThinkTrader.
In terms of the ThinkMarkets platform offering – is this a brand new solution and what made you go the way of a proprietary platform?
The new platform ThinkTrader is a brand new solution as it was customized from the traders’ point of view and customized to be feature rich but easy to use. We partnered with several third party vendors for services but the platform as it stands is proprietary to ThinkMarkets.
This project started several years ago as we were growing rapidly and we constantly found ourselves competing with brokers on MT4 with no real USP that we could market aside just having MT4, which almost all brokers had. MetaTrader 4 is a great platform for brokers but at one point you reach a ceiling in how big you can really grow with it.
In order for us to really grow as a firm we realized we needed our own platform to control of our own destiny. Most importantly we wanted the ability to provide customizable and tailored products for our clients to make them stay longer and trade more with us.
What are the main perks of ThinkMarkets for traders?
In launching our own platform, our real focus is mobile trading. We realize that as nearly half of our volume comes from mobile we needed a solution that caters to mobile and desktop traders alike.
The Mobile app is called ThinkTrader and allows many one touch trading features which are not found in other apps.
All accounts on our new platform come with reduced spreads, with traders having the ability to use integrated AutoChartist, Reuters news and many more advanced features not found in MT4. In addition, IB’s will earn better rebates on ThinkTrader when referring new accounts.
Will you be white labeling this offering to other brokerages?
Yes for qualified brokerages we are open to offering a full package white label of the platform.