Introduction

In this ThinkMarkets Scam Review, we dig deep into the complaints, red flags, and real experiences from traders who claim to have been trapped or scammed by what appears as a broker. My goal is to provide you with a detailed, no-nonsense exposé so that you can make an informed decision—especially if you were considering depositing funds with ThinkMarkets.

1. What Is ThinkMarkets?

To understand the context, ThinkMarkets is a broker that claims to offer forex, CFDs, stocks, commodities and more. They advertise platforms such as MT4, MT5, and their proprietary “ThinkTrader.” They also present themselves as regulated in jurisdictions like the UK, Australia, and others. However, the presence of regulation does not immunize them from serious issues when it comes to trust and real customer experience.

2. Overview of Positive Claims

Even critics must admit: ThinkMarkets markets itself as a legitimate, multi-regulated firm, and some users report smooth trading, fast execution, and competitive spreads. On sites like Trustpilot there are dozens of positive reviews citing ease of use, stable platform, and responsive support. These are used by the company to bolster credibility.

But positive marketing and selective reviews do not disprove the many serious red flags we will outline below.

3. Scam Allegations & Complaints

Here are key patterns from complaints that strongly suggest scam behavior:

• One trader claims they could not withdraw funds for over a year. They say ThinkMarkets “deducted $74,420.75 (my trading profits) from my account without any explanation,” then ignored repeated withdrawal requests.

• Several users  “will steal your money” or that their support never answers after funds are deposited.

• one user says: “ThinkMarkets is a scam. She doesn’t pay her clients. She didn’t pay my wife.”

• Another complaint states that ThinkMarkets runs a “deposit/withdrawal fee scam” by charging absurd percentages (e.g. 5.2%) despite claiming “no fees” in their marketing.

These are not minor annoyances — they suggest systemic behavior of withholding funds, ignoring clients, and imposing hidden fees.

4. Hidden / Unexpected Fees

One of the most frequent complaints is about unexplained charges:

• Users report that even though the website states “we do not charge deposit or withdrawal fees,” actual withdrawal attempts triggered arbitrary fees (e.g. 5%+).

• In one case, a trader emailing support received no justification for the charge and only got vague references to terms buried somewhere.

• The mismatch between marketing (no fees) and real experience (big fees) is a classic sign of misleading practices.

If ThinkMarkets were honest, they’d clearly show every possible fee up front—not surprise clients after they try to pull funds.

5. Withdrawal Blocking & Fund Freezing

This is perhaps the most damning category of complaints:

• Many traders assert that their withdrawals are blocked indefinitely, often for months or over a year, without justification or updates.

• One case mentions funds were “frozen” from December 2023 to April 2024, with no explanation, and additional withdrawals rejected.

• Sometimes, after repeated complaints, the broker allegedly unilaterally deducted large profits from the account without clarification.

• Traders often report that after sending countless support tickets and emails, they get only automated “under review, please wait” responses.

This is a classic scam tactic: let users deposit, trade (or pretend to), then when they try to withdraw, the broker halts payments.

6. Customer Support Silence & Evasiveness

A scam often depends on shutting down or delaying support. The complaints indicate:

• Many users say customer support never responds after deposits or withdrawal requests.

• Complaints filed via broker regulation bodies sometimes get stalling tactics—massive demands for irrelevant documentation, endless back-and-forth without resolution.

• One user described sending “11 emails over five months with ZERO replies.”

• Others mention that support responds only with generic boilerplate, never addressing specific transaction issues.

When a broker is willing to talk before you deposit but goes silent when you try to withdraw—that’s highly suspicious.

7. Clone Sites & Phishing Risks

Another serious danger is that fraudsters set up clone sites that impersonate ThinkMarkets. These clones attempt to lure victims into depositing into fake accounts.

• One known clone uses the URL m.thinkmarkes.com (note “markes” instead of “markets”) and pulls the ThinkMarkets branding to trick users.

• Scammers ask for “unfreezing deposits,” urgent payments, etc., claiming they are refundable.

• These clones create urgency (“pay by tonight”) to push people into depositing quickly.

Therefore, even if ThinkMarkets may have some legitimacy, many users are duped by malicious clones. Always verify domain names and regulatory credentials.

8. Final Verdict: Scam or Risky Broker?

After analyzing the reports, here’s my conclusion:

ThinkMarkets is not a clean, safe broker. While it might have some veneer of legitimacy, the pervasive evidence of blocked withdrawals, hidden fees, customer support silence, and clone site danger supports classifying it (in many users’ experience) as a scam or “scam-adjacent.”

If you’re deciding whether to trust it with your funds, exercise extreme caution. Better safe than sorry.

9. Tips Before Trading With Any Broker

If you still want to try, apply these precautions: