ThinkForex Feedback


AusDoc

Well-Known Member
ThinkForex was pretty well rock solid in my experience from when I started using them almost exactly 12 months ago until a few weeks ago. Over the past few weeks I have been experiencing runs of reasonably brief disconnections or dropouts. These are very disconcerting when positions are open or pending.

I reported a couple of dropouts in another thread recently, here:
http://fxgears.com/forum/index.php/topic,25.msg6042.html#msg6042

Here is an update on recent activity.



I have noticed that some of the extra benefits previously available to clients appear to have been dropped too. This may imply they are saving on licensing fees and begs some questions about their status.
 

jack

Administrator
Staff member
Yeah, this could be a sign of troubled times there, but it also could just be a rough few weeks for them IT/system wise.

I've been with solid and honest brokers who've had periods of time where reliability was decreased thanks to server issues (in both cases, due to growing too fast and needing to add on additional server capacity to balance things out.)

That being said, I don't believe "growing too fast" is ThinkForex's problem.

I don't trade with them myself (never been very compelled by their offering to be honest,) so I ultimately have no clue as to what's up with them.

What were the services/"extra benefits" they cut off recently?
 

AusDoc

Well-Known Member
Jack said:
What were the services/"extra benefits" they cut off recently?
Changes I noticed were:
  • Trade Manager and Mini Terminal addon software - no longer updated/supported/offered
  • Access to ForexTrading.TV now limited (no big loss!)
  • My account manager moved on :(

Could all mean nothing but worth noting given the degradation of technical reliability.
 

shopster

Well-Known Member
think forex a clown show and pepper owns the local game.

http://www.myfxbook.com/reviews/brokers/thinkforex/44241,1

the scam starts on page 2 and is unresolved, the think rep. never does weigh in

s
 

AusDoc

Well-Known Member
shopster said:
http://www.myfxbook.com/reviews/brokers/thinkforex/44241,1

the scam starts on page 2 and is unresolved, the think rep. never does weigh in
First time I've seen that, didn't find anything similar during my original checks. Anyway, I'm off to Pepper. I very nearly chose them but went with TF. Live and learn...
 

AusDoc

Well-Known Member
Sent: Fri 16/01/2015 9:29 AM
--
Dear Client,

As you will be aware, recent commentary and action by the Swiss National Bank (SNB) has led to an unprecedented move in the value of the Swiss Franc (CHF) leading to interbank liquidity completely drying up overnight. The SNB took the view that direct intervention was no longer an option to keep the EUR/CHF pair above the 1.20 ‘floor’ that had been in place, while also reducing interest rates deep into negative territory at -0.75%.

The unexpected move caused unprecedented activity and accelerated moves, combined with severely-diminished liquidity in all CHF pairs and other pairs as well. In some cases, prices were erratic compared to normal, liquid market conditions. Accordingly, spreads were significantly wider and quotes may have been intermittent leading to slower executions. Whilst many Liquidity Providers and banks stopped quoting, our robust technology, infrastructure and internal systems meant we were able to handle trades with only minimal interruption and continue to offer market leading trading conditions. We also note that there has been no financial impact to the Company due to our robust internal controls.

Due to the nature of the activity, CHF pairs are likely to have slightly abnormal trading conditions in the short term, including slightly wider spreads.

We have also taken the decision to reduce the leverage on all CHF pairs to be 50:1. This change will occur from the opening of trading on Monday 19th January 2015 (09:00 Melbourne/00:00 GMT+2).

Please ensure that you check your margin situation to ensure that you have sufficient margin to maintain existing and open new positions. If you believe that you will have insufficient margin you may need to reduce your exposure or deposit additional funds.

As always, we encourage you to continue monitoring market and economic news and ensure that you maintain appropriate levels of margin, and use extreme caution when deciding on leverage settings and order placement.

Have Questions for ThinkForex?

Our Support team is here for you 24 hours during the trading week, so don't hesistate to contact us on +61-3-9093-3400 or email us at support@thinkforex.com


Kind regards,
The ThinkForex Team
 

rod178

Well-Known Member
Has the feed stability improved since your previous issues a few months ago?

Axi has been fine, so I'm still using them
 

AusDoc

Well-Known Member
rod178 said:
Has the feed stability improved since your previous issues a few months ago?
Yes, that settled. It was in fact no worse than all the MT4 brokers seem to be. During my DD of Pepperstone I found they were just as bad/good. I have experienced the same with AxiTrader.

Axi has been fine, so I'm still using them
Me too, but not as much as they'd like. :))
 

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