Thunder Markets is a rebranded version of Thunder Forex, a Seychelles-based broker registered in 2019. The company offers quite a solid range of trading assets, great trading software, and more.
But is everything really as good? Are your funds protected enough? Find out by reading our detailed Thunder Markets review.
However, prior to that, we’d like to invite you to read our reviews of NordFX, SGT Markets, and FXGiants brokers.
| Broker Status: | Offshore Broker |
| Broker Regulation: | FSA Seychelles |
| Known Broker Sites: | Thunderforex.com Thundermarkets.com |
| Operating Status: | Active Forex trading platform |
| Complaints From Regulators: | N/A |
| Broker Owner: | Thunder Markets Ltd |
| Headquarters Country: | Seychelles |
| Foundation Year: | 2019 |
| Trading Platforms: | MT4 |
| Mobile Trading: | Available |
| Minimum Deposit: | 500 USD |
| Deposit Bonus: | N/A |
| Crypto Trading: | Not Available |
| CFD Trading: | Yes, you can trade CFDs |
| Trading Instruments: | Forex, commodities, indices, shares, futures, bonds |
| Maximum Leverage: | 1:400 |
| Islamic Account: | Available |
| Demo Account: | Yes |
| Accepts US Clients: | US traders are not accepted |
| Global Fraud Protection Team: | Be careful when investing with this firm |
Is Thunder Markets a Legitimate Forex Trading Firm?
Thunder Markets is a Thunder Markets Ltd brand, registered as a Securities Dealer in Seychelles, with a license number SD067. The owner changed the name along with the domain, going from Thunder Forex Ltd.
So, does this Thunder Markets regulation mean anything to you as an investor? Hardly. Offshore countries are known to be loose, offering a low level of protection. Unlike Tier 1 authorities, including BaFin, CONSOB, ASIC, and FCA, offshore license providers don’t obligate FX brokers to form compensation funds. At the same time, companies can quickly go bankrupt due to low minimum capital requirements.
Additionally, some limits in Europe, the US, and Australia don’t apply offshore. For instance, ESMA imposed a leverage cap of 1:30 in the EU and the UK, while ASIC did the same in Australia. Thunder Markets, on the other hand, has no limitations, offering up to 1:400.
Knowing all this, we’d like to invite you to share any details you may have regarding the firm.
Thunder Markets, previously known as Thunder Forex, is an online trading broker from Seychelles. The company holds only a Tier 3 license from FSA Seychelles.
Where Does Thunder Markets Operate?
The first domain, thunderforex.com, was registered in October 2019 in the GoDaddy WHOIS database. Then, the firm rebranded, and we got thundermarkets.com in January 2022.
According to our research, Thunder Markets mainly operates in:
- Germany,
- Austria,
- Cyprus,
- Switzerland.
These are all EEA zone countries, and the broker has no legal authorization to provide them services. This is quite concerning as you cannot request assistance from the Financial Ombudsman or funds from a compensation fund unless the broker is registered in your area.
Additionally, SimilarWeb results show that the site had a bit over 11,000 visits during January 2023, with the majority coming from Germany, Egypt, and Morocco.
What Trading Platforms Does the Broker Support?
Thunder Markets trading platform can brag with functionality. The company supports MT4, one of the best trading software today. It has many trading features, including EAs and social trading.
This brokerage accepts all trading strategies, including hedging and scalping, so that you won’t be penalized for any. Additionally, MT4 supports one-click trading, has a customizable interface, and real-time market prices.
Along with MT5, MetaTrader has millions of users and is a preferred software for over 50% of retail traders such as yourself.
Thunder Markets Mobile App – Can I Download It?
Another perk of using MT4 is a dedicated mobile app. Besides desktops, this software has apps for both iOS and Android. However, in September 2022, Apple banned MT from its App Store, allowing only Android users to download the app and receive the latest updates.
What Can You Trade With a Broker? – Trading Instruments
Let’s review the list of trading instruments. Before we begin, we’ll tell you that crypto trading is not offered. Therefore, if you’re looking to exploit the perks of the digital currency market, you must find another brokerage.
If, however, you wish to trade with Thunder Markets, here are your options:
- Forex pairs – EUR/USD, GBP/AUD, SEK/ZAR
- Commodities – gold, crude oil, natural gas
- Indices – AU200, FTSE100, CAC40
- Shares – Amazon, Netflix, Google
- Futures – LCC, CC, USCORN
- Bonds – TY10, EURIB, FGBL
We’ll move on to fees and spreads.
Fees and Spreads Overview
Depending on the account, the spread starts from 2-7 pips. If, however, you decide to trade with commissions, you can get a raw spread. Yet, the commission will be 0.1% HT on shares and $8 HT on FX.
Thunder Markets Account Types – What’s the Difference?
You can choose between the two basic Thunder Markets account types:
- Classic – $500
- Thunder – $1,000
The only notable difference is the spread for accounts without a commission.
Additionally, you can choose MAM or Multi-Asset Management account, where you’re allocating funds into a specialized account managed by a professional. Then, this person invests your funds and earns a commission for their work. The spread and commissions correspond to a Classic account, except for a minimum deposit – it’s $5,000 for MAM.
Thunder Markets Demo Account
Another thing we have to credit is Thunder Markets’ Demo account. The company offers $50,000 of virtual funds on a risk-free account.
However, from what it seems, you need to invest a minimum of $1,000 to be eligible to receive this account. If you’re unwilling to do so or want only a Classic account, you won’t get a risk-free Demo. It’s rather odd since the whole point of having a Demo account is to avoid any investments.
How to Withdraw Your Profit From a Thunder Markets Account?
Let’s review a list of payout methods.
- Wire transfer – no fees
- Neteller/Skrill – 1%
- Credit card – no fees
- Perfect Money – no fees
Thunder Markets’ withdrawal processing time is not specified, which is another odd thing. You should have detailed information regarding how long it will take to get your money. Otherwise, the broker can stall you, and you have no proof, as they’re not committed to any timeframe.
I Have Trouble With Thunder Markets, What to Do?
In case you’re experiencing troubles with Thunder Markets broker, you can turn to their regulator. Additionally, you can contact Global Fraud Protection for assistance.
Book your free consultation today, and let’s evaluate your case thoroughly! Our team of chargeback experts and legal specialists will look into the matter and determine whether or not you can file a dispute. If so, we’ll gladly help you with the first steps.
FAQ Section:
Is Thunder Markets a Legit Broker and Should I Invest In It?
Thunder Markets is an offshore trading broker under a Tier 3 license. In case of any potential issues, let us know, and we may be able to assist.
Does Thunder Markets Give a Welcome or Deposit Bonus?
The company doesn’t mention any kind of incentives for customers.
Thunder Markets is a MetaTrader 4 Forex broker offering desktop and mobile apps.
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