Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

USD/JPY Discussion 88,434 replies

Elliott Waves discussion 4 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: ThinkMarkets Discussion
Exit Attachments

ThinkMarkets Discussion

Quoting msood
{quote} alternately, maybe organize a demo account on another server for your customers to enter trades which can later be reflected in the real account?
Just to clarify this and your question about webtrader:

Webtrader is a different access point to the same server. The accounts are the same and they reside on the MT4 server, so if the trading server is offline, no orders can be placed from MT4, the mobile platforms or the webtrader (or even from the broker side).

As for creating a demo account to enter trades, whilst on paper this may seem like a simple solution there are several potential issues, one being that to then sync all the orders would be very problematic, we'd also have had to factor in whether a client would have the necessary margin etc to take a position at the time, and finally and possibly the largest, regardless of what was said, as it is only a demo account there would be nothing binding between us and you to say that the demo trades would have to be honoured, so someone could place a number of trades, and if they turned out to be profitable, take them and if not could 'do a runner'. It is also difficult to honour new positions that are based on hypotheticals for a similar reason, and why fixes usually only relate to existing positions.

Ultimately there is no real quick fix or perfect situation in these scenarios, but as long as nobody loses out because of it, that is our aim, and I believe that is what we've achieved.

Once again, I apologise for the inconveniences caused and we're working very hard in the background to do our best to ensure that this kind of problem does not happen again.

Chris
Visit our Newsroom for all the latest market news and updates.
Hi Chris,

I'm looking forward to the opening of thinkforex UK, when are you expecting it to be fully operational?

Regarding the recent tech issues I hope this kind of issues or any other tech issues will not happen again in the future otherwise anyone will lose interest in TF even if you decrease your spreads, commissions... etc, a stable trading environment is more important than any competitive trading conditions.

Good luck & Regards,
Does ThinkForex B Book cTrader accounts?
Quoting DreamwalkeR
Hi Chris, I'm looking forward to the opening of thinkforex UK, when are you expecting it to be fully operational? Regarding the recent tech issues I hope this kind of issues or any other tech issues will not happen again in the future otherwise anyone will lose interest in TF even if you decrease your spreads, commissions... etc, a stable trading environment is more important than any competitive trading conditions. Good luck & Regards,
Hi Dreamwalker,

We are currently hiring the core team for an official UK office operational launch in the next couple of months.

We fully appreciate your concerns with regards to the issues, and we have built in new security measures to ensure we are fully protected against any future attacks.

Many thanks.
Visit our Newsroom for all the latest market news and updates.
Quoting rod178
Does ThinkForex B Book cTrader accounts?
Hi Rod,

No, we do not B book cTrader accounts.

Many thanks.
Visit our Newsroom for all the latest market news and updates.
Hi ThinkForex, what is your trade execution model? STP, NND? Do you operate any B-Book model? What about MT4 CFD?

Also when is the UK launch do to happen? many thanks...
Quoting rtradern
Hi ThinkForex, what is your trade execution model? STP, NND? Do you operate any B-Book model? What about MT4 CFD? Also when is the UK launch do to happen? many thanks...
Hi,

Thanks for the questions!

We offer a NDD model. We have gone further than many other brokers and clearly outlined our Fair Execution Policy which should give you all the details you need: http://www.thinkforex.com/why-thinkf...ecution-policy.

UK launch is coming soon - we're making sure we have all the necessary in place before getting started, this includes the proper support and all the funding options etc.

We'll of course let everyone know when we get going!

Thanks,
Chris
Visit our Newsroom for all the latest market news and updates.
Quoting ThinkForex
{quote} Hi, Thanks for the questions! We offer a NDD model. We have gone further than many other brokers and clearly outlined our Fair Execution Policy which should give you all the details you need: http://www.thinkforex.com/why-thinkf...ecution-policy. UK launch is coming soon - we're making sure we have all the necessary in place before getting started, this includes the proper support and all the funding options etc. We'll of course let everyone know when we get going! Thanks, Chris
Hi Chris,

In that link it's mentioned that you have Citibank, Saxo Bank and GFT Markets as your lequidity providers, so any update on that list or is it still the same?

and one more question regarding withdrawal's time, how long it takes to process a withdrawal request?

Thanks & Regards,
ThinkForex is a very bad FX company. I asked for a withdrawal yesterday and today I got a reply saying that I need close all my open positions before any withdrawals. Either they didn't check my account at all or they are just trying to make it harder for clients to withdraw money. I had and I still have enough free margin to withdraw. I will close everything soon and close my account with them. But definitely they are a very bad FX company.
I hope TF will respond with a feedback for the last couple of posts.
Hi,

I sincerely apologise for the slowness of the replies to these:

Quoting Namli
ThinkForex is a very bad FX company. I asked for a withdrawal yesterday and today I got a reply saying that I need close all my open positions before any withdrawals. Either they didn't check my account at all or they are just trying to make it harder for clients to withdraw money. I had and I still have enough free margin to withdraw. I will close everything soon and close my account with them. But definitely they are a very bad FX company.
This is possibly no longer relevant to you, but is certainly relevant to everyone else. Not knowing the specific details of your account I can't judge, but under normal conditions you can of course withdraw any available/unencumbered funds from your account, even when you have open positions. The only time this would not be allowed is if you were in a managed account pool and fees etc may still need to be calculated.

Quoting DreamwalkeR
Hi Chris, In that link it's mentioned that you have Citibank, Saxo Bank and GFT Markets as your lequidity providers, so any update on that list or is it still the same?
All ASIC regulated brokers are required to address RG227 benchmarks on their website, which includes the details on counterparty risk (http://www.thinkforex.com/why-thinkf...ion/benchmarks). Benchmark 3 details which LPs we currently use "ThinkForexs Prime Brokerage accounts are with Forex Capital Markets Ltd (regulated by the Financial Conduct Authority in the United Kingdom), Saxo Capital Markets (Australia) Pty Ltd (regulated by the Australian Securities and Investments Commission in Australia), Capital Market Services UK Ltd (regulated by the Financial Conduct Authority in the United Kingdom), ADS Securities LLC (licenced by the Central Bank of the United Arab Emirates) and LMAX Limited (regulated by the Financial Conduct Authority in the United Kingdom). We may change our counterparties regularly and without notice."

As I mention, all ASIC regulators are required to detail all seven RG227 benchmarks on their site, but I am not sure that all are readily available.

Quoting DreamwalkeR
and one more question regarding withdrawal's time, how long it takes to process a withdrawal request? Thanks & Regards,
We process all withdrawals on the same day they are received (assuming it is before cutoff). Depending on the withdrawal method it can take varying times for the money to get back to you, but will will process it that day.

Thanks
Visit our Newsroom for all the latest market news and updates.
Quote
We process all withdrawals on the same day they are received (assuming it is before cutoff). Depending on the withdrawal method it can take varying times for the money to get back to you, but will will process it that day.

You are very game making statements like that!
I have several withdrawals placed well before cut off time, some even the night before and yet they are not processed until over 24-36hrs later.I live in Australia, did you mean Australian clients? That's not a rhetorical question.

Feedback is always good, but late and misleading is far from helpful.
My comments are not to be taken as trading advice, not a financial advisor
Quoting cogs
{quote} You are very game making statements like that! I have several withdrawals placed well before cut off time, some even the night before and yet they are not processed until over 24-36hrs later.I live in Australia, did you mean Australian clients? That's not a rhetorical question. Feedback is always good, but late and misleading is far from helpful.
Our goal is to process all within the same day. Of course there can be exceptions if there are issues for whatever reason. If you have a specific example, feel free to message me directly with the details, and I'm happy to go over to my treasury department and give them all a kick if they are not going as fast as they should be!
Visit our Newsroom for all the latest market news and updates.
Quote
Of course there can be exceptions if there are issues for whatever reason.
No exceptions with all of mine, just delayed processing.

Quote
​if they are not going as fast as they should be!
You mean as fast as you are stating in your previous post?

Look mate I know you are trying, but all too often I see brokers who think they have the right to our hard earned $, and to add, think they deserve the right to to earn the interest off our money, with the expectations that the trader has simply handed over their money to the broker to never see it again.

Just stick to your word, be honest and we should all be happy and keep clear of FOS and ASIC.
My comments are not to be taken as trading advice, not a financial advisor
Quoting cogs
{quote} No exceptions with all of mine, just delayed processing. {quote} You mean as fast as you are stating in your previous post? Look mate I know you are trying, but all too often I see brokers who think they have the right to our hard earned $, and to add, think they deserve the right to to earn the interest off our money, with the expectations that the trader has simply handed over their money to the broker to never see it again. Just stick to your word, be honest and we should all be happy and keep clear of FOS and ASIC.
Yep, so if you have suffered from delayed processing, I'd love to know the details so I can look at them and talk to the people involved. Our treasury department have a target to process all withdrawals the same day, assuming they are received by 1pm that day. By that I mean withdrawing the money from your trading account and sending it from the bank/merchant. If we didn't hit that target, then an example will allow me to look at it and help our treasury team improve.

We never would delay a transaction for the sake of it or for earning interest. Firstly, I can categorically say that our active client trust accounts are not interest bearing and perhaps more importantly, how much interest would be earned? Imagine the account attracted 2.5% interest and a broker 'held' a withdrawal of $5,000 for a day, that would make them about $0.35 in interest.

I'm sure like a lot of brokers we always act honestly, if your withdrawal is slower than you'd like, we'll try and make it quicker.

Chris
Visit our Newsroom for all the latest market news and updates.
Quoting ThinkForex
Hi, I sincerely apologise for the slowness of the replies to these: Thanks
Hi Chris,

Thanks for your reply. There is one thing that i'd like to bring to your attention hoping it would be fixed. On MT4 live pro accounts the charts doesn't have enought history as in standard accounts or in demo and i've tried to download from the MT4 history center but it doesn't change anything.

I'm attaching a two sample images of EURUSDpro Monthly chart and EURUSD Monthly chart from the same platform noting that it applies to all pro pairs and metals on every time frame.

Thanks for your collaboration.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TFPro.png Size: 32 KB
Click to Enlarge Name: TFStandard.png Size: 54 KB
right now all of TF server were down... cant do anything... every month got same problem

and, i got trade open and cant manage it
Sign Off --->
Quoting wswi
right now all of TF server were down... cant do anything... every month got same problem and, i got trade open and cant manage it
""
... same for me .. All servers are unavailable. Support (chat) is "Not found (error to origin)". Loooks a very bad network issue
Quoting totowah
{quote} "" ... same for me .. All servers are unavailable. Support (chat) is "Not found (error to origin)". Loooks a very bad network issue
The best thing is, i manage to talk with customer services before all of their service gone... id told them all of my VPS ( 1 got 3 and located in US, UK and Aussie) seem to have difficulties to connect... Daven ( customer service rep) told me that their network is OK... after a few sec... BOOOM... no more available services can be found...
Sign Off --->
Nobody reply after ticket open 7 hours ago, be aware.
0 traders viewing now