Thunder Markets operates as an offshore broker, regulated by an offshore authority, which came as a surprise to us. While the broker provides favourable conditions and an excellent trading platform, we maintain reservations about their regulatory status. We strongly advise against opting for an offshore broker over one regulated by a stringent financial authority. Read this complete Thunder Markets review to fully analyse this Thunder Markets broker.
Website – https://thundermarkets.com/
Address – CT House, Office 8E, Providence, Mahe, Seychelles.
Regulation Status – Offshore Regulatory
Warning – Not recommended by review website like Cyber Scam Recovery
Domain Age –
A comprehensive look at Thunder Markets
Thunder Markets, headquartered in Seychelles, is licensed by the local Financial Services Commission (FSC), making it a regulated entity, albeit offshore. Obtaining a license in Seychelles is comparatively simpler than in other jurisdictions. While this lack of tenure doesn’t automatically imply unreliability, it does indicate less experience compared to more established brokers.
Thunder Markets Review: Regulation
Thunder Markets presents itself as a new brokerage, operating within an offshore jurisdiction known for its less stringent regulations, which may raise concerns regarding potential risks. This offshore entity offers a plethora of trading instruments and holds a license governed by the laws of Seychelles. However, its offshore status prompts questions about its reliability.
Despite these considerations, Thunder Markets boasts competitive trading conditions and a diverse array of assets, potentially appealing to those willing to navigate associated risks. Notably, Thunder Markets does not appear in the databases of regulatory bodies such as the FCA (Financial Conduct Authority), ASIC, or BaFin.
Thunder Markets Review: Trading Platform
Thunder Markets provides access to the (MT4) trading platform, renowned for its favor and versatility among millions of traders worldwide. Recognized for its intuitive interface, robust charting tools, and extensive feature set, MT4 is widely acclaimed in the trading community.
Trading Conditions: Leverages and Spreads
Thunder Markets offers commendable trading conditions, providing access to over 250 trading instruments across major markets including forex, indices, shares, commodities, and futures. The brokerage features a singular account type, requiring a minimum deposit of $500, which, while not exorbitant, surpasses the typical requirement of most brokers in today’s market. Many brokers now offer accounts starting from as little as $10, and occasionally even less.
The maximum leverage Thunder Markets offers is 1:400. It’s important to note that trading with such high leverage carries inherent risks, particularly for inexperienced traders. There’s a rationale behind the imposition of limits on maximum leverage for retail traders in numerous jurisdictions.
Initially, the spreads observed on Thunder Markets’ MT4 terminal appeared promisingly lower than average, notably 1 pip on EURUSD. However, it was discovered that Thunder Markets applies an additional commission of $7 round turn per lot. Consequently, traders would incur a minimum cost of $17 for each lot traded, placing this broker slightly above the average in terms of overall trading expenses.
Thunder Markets Review: Payment Methods and Fees
Thunder Markets facilitates deposits through various channels including credit cards, wire transfers, Perfect Money, Skrill, and Neteller. The broker assumes fees for wire transfers and PerfectMoney deposits. While depositing via credit card incurs fees solely from the provider, depositing through Skrill or Neteller necessitates a 3.5% fee.
In the event of 3 months of inactivity, Thunder Markets imposes an inactivity fee amounting to 0.25% of the account balance, with a minimum charge of $30. While we consider such an inactivity fee to be higher than average, it remains within the realm of customary practice.
Thunder Markets Review: Conclusion
Thunder Markets emerges as a newcomer in the realm of forex and CFD brokerage, presenting a diverse array of trading accounts, competitive spreads, and an extensive collection of educational materials. Nevertheless, Thunder Markets is not without its drawbacks, notably its limited experience, a restricted array of trading platforms and tradable assets, and the provision of high leverage, posing potential risks, particularly for novice traders.
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