Offers two ways to trade: Forex, CFDs
Financial Conduct Authority an...
Popular for Neo Coin!
98 traders clicked on ThinkMarkets this month.
The Ultimate Guide to
Choosing a Broker
For Neo Coin
Not sure which broker is right for you?
Don’t worry - we’ve got you covered. In this guide, you’ll learn:
- Why ThinkMarkets scored high for neo coin (Jump to section)
- Who ThinkMarkets is (and isn’t) suitable for (Jump to section)
- An in-depth feature comparison of the top #3 brokers (Jump to section)
- An overview on neo coin (Jump to section)
What is the Best Trading Platform
for Neo Coin?
ThinkMarkets scored best in our review of the top brokers for neo coin, which takes into account 120+ factors across eight categories. Here's the full list of all the brokers we considered.
The following brokers allow neo coin on their platform:
Here are some areas where ThinkMarkets scored highly in:
- 8+ years in business
- Offers + instruments
- A range of platform inc. MT4, Mac, Web Trader, Tablet & Mobile apps
- 24/7 customer service
- Tight spreads from 0.1 pips
- Used by + traders
- Allows hedging
- 2 languages
- Leverage up to 1:400
ThinkMarkets offers two ways to trade: Forex, CFDs. If you wanted to trade NEO through copy trading or other means, skip to part two.
The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.
ThinkMarkets have a B trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority and ASiC, segregating client funds, being established for over 8 years, and much more. For comparison:
Trust Score comparsion
|Regulated by||Financial Conduct Authority and ASiC|
|Uses tier 1 banks|
|Segregates client funds|
The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.
Who ThinkMarkets is (& Isn’t)
As mentioned, ThinkMarkets allows you to trade in two ways: Forex, CFDs.
- CFD Trading
- Forex Trading
ThinkMarkets offer a wide range of instruments to trade including forex pairs, indices, and cryptocurrencies . In fact, they’re one of the few brokers to offer not only Bitcoin trading but also and many more. In the following section we’ve listed ThinkMarkets’s spreads for a range of popular instruments. You can also see a more detailed breakdown of how ThinkMarkets’s spreads compare in this ThinkMarkets review
ThinkMarkets is also suitable for traders looking to trade with an ECN broker. ECN trading allows the trader to get access to the actual pricing of instruments as set by the banks and liquidity providers, rather than relying on the broker to set the price. To open an ECN account with ThinkMarkets you will need a minimum deposit of $2000.
Finally, ThinkMarkets isn't available in the following countries: AF, Yugoslavia, AO, GM, NG, AW, GH, KR, BY, GN, BO, GN, PK, BW, HT, PG, IR, PN Island, Burma MM, IQ, RW, KH, , SN, CF, JP, Sierra, Leone, TD, KG, SO, CI , LB, SZ, CU, LS, SY, of CG, LR, TJ, DJ, LY, Tanzania, EC, Laos, TG, ER, ML, TM, ET, MN, UG, Falkland Islands, NA, US of America, FJ, NI, YE, ZW.
A Comparison of ThinkMarkets vs. vs.
Want to see how ThinkMarkets stacks up against and ? We've compared their spreads, features, and key information below.
Spread & fee comparsionThe spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
|FTSE 100 Spread||N/A|
Comparison of account & trading features
|Accounts offered||Mini account, ECN account, Islamic account, standard account, VIP account|
|Platforms||MT4, Mac, Web Trader, Tablet & Mobile apps|
|Risk management features||Guaranteed limit order, limit order, one click trading, trailing stops and price alerts|
|Funding methods||Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,|
What is NEO Coin?
Bearing some similarities to Ethereum, NEO is a platform rather than a simple cryptocurrency, designed to be used universally to pay for goods and services. NEO is often referred to as the ‘Chinese Ethereum’ and is positioned as a ‘public cloud’ with its core functionality being the building of smart contracts and decentralised applications.
NEO was originally called Antshares at its launch in 2016 before being re-branded as NEO in 2017. The re-brand also involved developments in functionality and the platform’s smart contract code, designed to support decentralised commerce, digital identities and the digitalisation of a wide range of different asset classes.
NEO is described as “… building a financial system bridging the real-world assets,”. Within 2 months of its re-brand, it climbed into the top 10 cryptocurrencies by market capitalisation. Perhaps unsurprisingly as NEO has the weight of the Chinese government behind it, it has seen one the fastest rate of adoption and traction rates to date. This has been reflected in its price rise from $0.18 per NEO unit at launch in early September to over $150 in 2018.
Neo vs Ethereum
One major difference between NEO and Ethereum is that development done on the Ethereum platform needs to be done using the platform’s own native programming language – Solidity. This mean Ethereum developers have to learn a whole new coding language. Developers building on the NEO platform can use JAVA and other common coding languages. This means NEO has a lower barrier to entry than Ethereum for devlopers.
NEO cryptocurrency units are used to pay for the creation and use of smart contracts and the other digitalised assets and decentralised applications that can be built on the NEO platform.
Advantages of Trading NEO with a Regulated Online Broker
When buying cryptocurrencies with a view to speculating on their price trajectory, rather than using them to pay for products and services, two choices are available. One is to buy actual units of the cryptocurrency, whether NEO, Ether, bitcoin or another, and to hold them, with a view to hopefully sell them at a profit at a later date if their price rises. Doing so means setting up an online cryptocurrency wallet from a provider that supports the cryptocurrency you want to buy.
An account with an online exchange that supports a trader’s favoured cryptocurrency(s) must also be opened. The cryptocurrency units are bought on the exchange and then transferred to the wallet, which can either be online, or offline as an extra layer of security to prevent the risk of theft by hackers. The reverse process will be required to sell.
Another option is to instead use CFDs, a financial derivative whose price is based on that of the underlying cryptocurrency. This can be easier and allows traders to take a short position, meaning that the trader can benefits if the price of the underlying asset goes down as well, or for shorter term positions on the price movement of up to a few days.
CFD brokers also allow the trader to use leverage, which multiplies profits, or losses, compared to the funds allocated to open the position. This does, however, increase a trader’s exposure to risk – the higher the leverage, the higher the risk.
If using CFDs to trade NEO, it is important to choose a regulated online broker. There is a wide choice of online CFDs brokers available, many of whom are regulated and many which are not. Using a regulated broker means client funds are protected in segregated accounts and in the worst case scenario of the broker running into financial difficulties this should not affect the balance in a client’s trading account. Even if money were to be lost, much of it would be subsequently compensated by the regulatory system, depending on the jurisdiction and regulator.
Another advantage of regulated brokers is that their price quotes and general business operations are supervised by the regulatory regime, for example, the Financial Conduct Authority in the UK, you can see a list of FCA regulated brokers here.
The Fundamental Influences of NEO
The main influence on the value of cryptocurrencies is their rate of adoption. How many people and other entities are holding, trading and spending a cryptocurrency impacts demand, and also sentiment on the future of the particular cryptocurrency. Unlike fiat currencies, whose value can be impacted by the monetary policy of the central bank that issues the currency, the national economy, international demand and geo-political events, cryptocurrencies are not tied to any particular economy or central authority.
The value of NEO units is and will be defined by how many users are building and using smart contracts and other digital assets on the platform.
NEO Quick Facts
Launch date: September 2016, rebranded as NEO in September 2017
Launch value: $0.18 (as Antcoins)
Lowest and highest levels to date: NEOs (still called Antcoins at the time) hit $48 in August as hype built around the re-branding of the Antshare platform as NEO. When first launched as Antcoins in September 2016, NEOs were valued at as little as $0.18.
Daily exchange volume (as of 26 1st 2018): $274,340,000
First brokers to offer NEO trading: Avatrade and Plus500 are among the first regulated CFDs brokers to offer NEO trading
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