ThinkMarkets review: Bad service!

19 days ago, I requested two withdrawals from my ThinkMarkets account. As of today, these withdrawals have still not arrived to my bank account!

The first withdrawal was requested on December 20th. After numerous follow-ups via email and phone to the customer support team and WhatsApp to the Account Manager, the teams continued to blame the Christmas holidays for the delays and make false promises. I still have not received my funds.

As for the reason for my withdrawals, a few weeks before making them, I experienced a severely unfortunately incident whereby ThinkMarkets placed my account on an illegal margin call stemming from a glitch (aka bug) in their software. The bug resulted in a miss-quoted price for a specific stock ticker, which created a false margin call and liquidated all of my positions.

When I confronted the ThinkMarkets team, their response was that this was the fault of one of their vendors (a liquidity provider) and refused to compensate me for the true value of the losses resulting from this margin call.

Instead, they offered me 12% of the total loss as "compensation" and responded that pricing is not their responsibility to get right, even going so far as quoting their terms and conditions.

To put a nail in the coffin, their support team was incredibly callous on calls, and didn't even apologize once for the situation they created. In fact, on one of the support calls, when I complained about the poor quality of their phone lines, one of their agent's responses was "it is what it is, call back"