Think Capital: Complete Review and In-Depth Analysis 2024

What is Think Capital? An Overview

Think Capital presents itself in the competitive proprietary trading firm sector as a proposal that seeks to differentiate itself through credibility and technological integration. Its stated mission is to “democratize prop trading,” with the goal of making it accessible to traders of all experience levels worldwide, based on the values of transparency and accessibility.

The key partnership with the broker ThinkMarkets

The fundamental pillar on which Think Capital’s identity and value proposition are built is its deep partnership with ThinkMarkets, an internationally renowned, multi-regulated broker with a solid track record. The firm operates “powered by ThinkMarkets,” which, according to its own communication, gives it more than a decade of indirect experience in financial management and brokerage services.

This relationship goes beyond a simple liquidity provider agreement. It constitutes an integrated ecosystem where the broker’s technology and infrastructure are the engine of the prop firm. This is manifested in the offering of ThinkMarkets’ proprietary trading platform, ThinkTrader, and in exclusive withdrawal methods that connect directly to personal accounts with the broker. For the trader, this synergy translates into a perception of greater stability, reliability, and potentially superior execution compared to firms that rely on less integrated third-party solutions.

Distinctive features and unique value proposition

The most innovative feature that Think Capital promotes is its vision of being “the only prop firm that builds your personal account.” This claim is based on a future functionality that will allow traders to withdraw up to 90% of their profits directly to a personal and real brokerage account with ThinkMarkets. This feature, although not yet available to all clients, represents a paradigm shift, offering a direct and tangible bridge between success in a simulated funded account and the construction of personal trading capital within the same regulated ecosystem.

Lightning Program (1 Phase)

The Lightning program is designed as the fast track to obtaining a funded account. Its single-phase structure is aimed at traders with a proven strategy and the confidence to achieve an ambitious profit target in a single step. It is ideal for operators who prefer a direct evaluation process without intermediate stages.

The key parameters of this program are a 10% profit target, a 3% daily drawdown, and a 6% maximum relative (trailing) drawdown. The leverage is more conservative, set at 1:30 for currency pairs, reflecting a more controlled risk approach for this accelerated evaluation model.

Lightning Program Account Table

Capital	Price	Profit Target (10%)	Daily Drawdown (3%)	Maximum Drawdown (6%)	Phases
$5,000	$59	$500	$150	$300	1
$10,000	$99	$1,000	$300	$600	1
$25,000	$199	$2,500	$750	$1,500	1
$50,000	$299	$5,000	$1,500	$3,000	1
$100,000	$499	$10,000	$3,000	$6,000	1
$200,000	$1,099	$20,000	$6,000	$12,000	1

Dual Step Program (2 Phases)

The Dual Step program follows the most widespread and recognized model in the prop firm industry. It consists of a two-phase evaluation that allows traders to demonstrate both their ability to generate profits and their consistency in risk management. This program is suitable for methodical operators who are comfortable with a structured verification process and who value more generous drawdown rules and higher leverage.

To pass the challenge, traders must reach a profit target of 8% in Phase 1 and 5% in Phase 2. The risk rules are more flexible than in the Lightning program, with a 4% daily drawdown and an 8% maximum fixed drawdown. The leverage is increased to 1:100, offering greater trading capacity.

Dual Step Program Account Table

Capital	Price	Phase 1 Target (8%)	Phase 2 Target (5%)	Daily Drawdown (4%)	Maximum Drawdown (8%)
$5,000	$59	$400	$250	$200	$400
$10,000	$99	$800	$500	$400	$800
$25,000	$199	$2,000	$1,250	$1,000	$2,000
$50,000	$299	$4,000	$2,500	$2,000	$4,000
$100,000	$499	$8,000	$5,000	$4,000	$8,000
$200,000	$1,099	$16,000	$10,000	$8,000	$16,000

Nexus Program (3 Phases)

The Nexus program is Think Capital’s proposal for the patient, consistent, and strategic trader. With a three-phase evaluation, this challenge is characterized by having the lowest entry cost of the entire offering and by profit targets that progressively decrease in each stage. It is designed to reward perseverance and meticulous risk management over time.

The profit targets are staggered: 7% in Phase 1, 6% in Phase 2, and 5% in Phase 3. The drawdown rules are identical to those of the Dual Step program (4% daily and 8% maximum fixed), and the leverage is also 1:100. The main advantage of this model is its economic accessibility, which allows traders to opt for large accounts with a significantly lower initial investment.

Nexus Program Account Table

Capital	Price	Phase 1 Target (7%)	Phase 2 Target (6%)	Phase 3 Target (5%)	Daily Drawdown (4%)	Maximum Drawdown (8%)
$5,000	$39	$350	$300	$250	$200	$400
$10,000	$79	$700	$600	$500	$400	$800
$25,000	$139	$1,750	$1,500	$1,250	$1,000	$2,000
$50,000	$199	$3,500	$3,000	$2,500	$2,000	$4,000
$100,000	$349	$7,000	$6,000	$5,000	$4,000	$8,000
$200,000	$749	$14,000	$12,000	$10,000	$8,000	$16,000

Trading Rules and Key Policies

Think Capital’s regulatory framework is detailed and presents important nuances that traders must understand perfectly to avoid violations that lead to the loss of the account. The drawdown rules, policies on trading styles, and activity requirements are the pillars of this framework.

Drawdown Rules: The Details Matter

The drawdown rules are the main risk management mechanism and their operation varies significantly between programs.

Daily Drawdown Analysis

For all programs, the daily loss limit (3% for Lightning, 4% for Dual Step and Nexus) is calculated based on the Starting Day Balance. This limit is recalculated and resets every day at 5 PM EST. It is crucial to understand that profits made during the day (floating or realized) do not increase the loss buffer for that same day. For example, on a $100,000 account with a 4% limit, the loss threshold is at $96,000. If the trader generates a profit of $2,000 and their equity reaches $102,000, the loss limit for that day will still be $96,000. The new limit, based on the closing balance, will apply the next day.

Maximum Drawdown Analysis

Here lies one of the most critical differences between the programs:

Dual Step and Nexus Programs: They use a fixed maximum drawdown of 8%. This means that the total loss limit is calculated only once on the initial account balance and never changes. On a $100,000 account, the equity can never fall below $92,000.
Lightning Program: It employs a relative (trailing) maximum drawdown of 6%. This type of drawdown is more demanding. The loss limit “follows” the highest point the account balance reaches. For example, on a $100,000 account, the initial limit is $94,000. If the balance rises to $102,000, the new loss limit adjusts to $96,000 ($102,000 - $6,000). This behavior continues until the trader reaches a profit equal to the maximum drawdown percentage (6%). At that moment, the drawdown limit is permanently fixed at the initial account balance.

Policies on News Trading, EAs, and Copy Trading

Think Capital has adopted an “a la carte” business model for certain trading functionalities. This means that while the base prices of the challenges are competitive, access to advanced tools or specific trading styles may require an additional payment.

Standard Restrictions and the Role of Add-ons

By default, on funded accounts, it is strictly forbidden to trade during high-impact news events. The restriction covers a 4-minute window (2 minutes before and 2 minutes after the announcement). Similarly, the use of Expert Advisors (EAs) or automated trading systems is not allowed in the standard configuration.

However, traders can unlock these functionalities by purchasing “Add-ons” or complements at the time of the challenge purchase. There are specific add-ons to allow news trading and the use of EAs. This model offers flexibility but forces traders to calculate the real cost of their challenge based on their operational needs. A trader who depends on EAs and trades on news will pay a final price higher than the one advertised.

Specific Conditions for Copy Trading

Copy trading is allowed under very strict conditions. Traders can copy trades between their own Think Capital accounts. It is not allowed to copy trades from other prop firm accounts or from external personal accounts, unless the Think Capital account is used as the “master” account. An exception is made for the PF1 tool on the Platform 5 platform. An indispensable requirement for using any form of copy trading is to have purchased the “EA Add-On” during the challenge purchase.

Prohibited and Permitted Trading Strategies

Think Capital explicitly prohibits any strategy that exploits the peculiarities of a simulated trading environment and is not replicable in real market conditions. The list of non-permitted practices includes:

Latency arbitrage.
High-frequency trading (HFT) using bots.
Grid or Reverse trading.
Hedging between multiple accounts.
Martingale strategies.

On the other hand, the firm explicitly confirms that traders are allowed to hold positions open overnight and over the weekend. This is a favorable policy for swing traders and position traders, who are not forced to close their positions at the end of the day or week.

Consistency Rules and Minimum Trading Days

Unlike other firms, Think Capital does not impose any consistency rules. This gives traders complete freedom to manage their position sizes (always within risk limits) without having to adhere to predefined ranges or averages.

To pass the evaluation phases, a minimum of 3 trading days is required. However, a crucial and often overlooked rule applies to funded accounts: to be able to request a withdrawal, the trader must have completed a minimum of 3 “profitable trading days” within the payment period. A day is considered profitable only if it meets two conditions simultaneously: closing with a profit of at least 0.5% of the initial day’s balance and the total account balance being above the original initial balance.

The Funded Account: Payouts, Scaling, and Limits

Once the evaluation phase is passed, the trader gains access to a simulated funded account from which they can generate real profits. The management of this account is subject to clear rules on profit sharing, capital growth, and penalties.

Payout Process and Profit Split

The standard profit split is 80% for the trader. This percentage can be increased to 90% by purchasing a specific add-on. By default, payments are processed every 14 days (bi-weekly), although there is also a “Weekly Payouts” add-on for those who wish to access their earnings more frequently.

Think Capital offers three methods for withdrawing profits:

Cryptocurrency (USDT via TRC20/ERC20 networks).
Rise, a payment platform that applies a fixed fee of $50 once a month for requested payments.
Direct transfer to a personal real ThinkMarkets account, although this method is geographically restricted to countries where the broker offers its services.

To request a withdrawal, in addition to being in profit, the trader must have met the rule of 3 minimum profitable days. There is no minimum withdrawal amount, but the amount must be at least $100 to cover transaction costs.

Scaling Plan: Growth up to $1.5 Million

Think Capital offers a scaling plan to reward consistent profitability. To be eligible, a trader must achieve a 10% profit target over a three-month period, during which they must also have made three withdrawals.

Upon meeting these requirements, the account balance is increased by 20% of the original initial balance. For example, a $100,000 account would scale to $120,000, and in the next scaling, to $140,000. This process allows traders to progressively increase their trading capital. The maximum initial capital a trader can manage is $300,000 on the MT5 platform and $600,000 on ThinkTrader. With the scaling plan, these limits can grow to $1 million and $1.5 million, respectively.

Penalties for Rule Violations

Think Capital’s penalty policy is strict and inflexible. Any violation of a fundamental rule, known as a “Hard Breach” (violating the daily or maximum drawdown, trading on news without permission, using prohibited strategies, etc.), has a single consequence: the immediate and irreversible termination of the account.

In the event of a “Hard Breach,” all open positions are automatically closed, the account is canceled, and the trader loses any accumulated profit that has not been withdrawn. It is crucial to note that if a trader commits a violation while the account is in profit, they will not be eligible to receive any part of those profits.

Infrastructure and Trading Conditions

The quality of the technological infrastructure and operating conditions are determining factors in a trader’s experience. Think Capital leverages its partnership with ThinkMarkets to offer a robust and competitive environment.

Broker and Trading Platforms

As mentioned, the entire trading environment is backed by the broker ThinkMarkets. Traders have the option to choose between two trading platforms at the time of purchase:

Platform-5 (a version of MT5).
ThinkTrader, ThinkMarkets’ proprietary platform, which stands out for its intuitive design and its native and complete integration with TradingView, allowing trading directly from the latter’s charts.

It is important to note that the choice of platform is final; it cannot be changed once the challenge has been purchased.

Leverage: Static vs. Dynamic

Think Capital’s leverage structure is complex and varies depending on the program, platform, and asset traded.

On the MT5 platform, the leverage is static. For the Lightning program, it is low (1:30 on FX, 1:5 on Indices). For the Nexus and Dual Step programs, it is higher (1:100 on FX, 1:15 on Indices).
On the ThinkTrader platform, a dynamic leverage system is used for all programs. This sophisticated risk management mechanism adjusts the leverage in levels or “tiers” as the position size increases. Smaller positions receive higher leverage, which is progressively reduced as the volume of open lots grows.

Dynamic Leverage Table (Example on ThinkTrader)

Asset	Lot Range	Leverage
Forex	0 – 5.00	1:100
	5.01 – 10.00	1:50
	10.01+	1:30 or less
Indices	0 – 8.00	1:20
	8.01 – 16.00	1:10
	16.01+	1:5

Commissions, Spreads, and Swaps

The cost conditions also depend on the chosen platform:

MT5 Platform: Offers very competitive raw spreads, with a commission of $4 per lot traded on Forex and Metals. Indices and cryptocurrencies have no commission.
ThinkTrader Platform: Operates with a commission-free model. Transaction costs are integrated into standard spreads, which are wider than the raw spreads of MT5.

Detailed information on swap rates (charges for holding positions open overnight) can be consulted directly on the ThinkMarkets page.

Available Financial Instruments

Traders have access to a wide range of markets, including major Forex pairs, global stock Indices, Commodities like gold and oil, and the most important Cryptocurrencies.

Logistical and Support Information

Restricted Countries and KYC Requirements

Due to the regulations of the associated broker, ThinkMarkets, Think Capital’s services are not available to residents of several countries, including the United States, Canada, Japan, Belgium, and the Russian Federation, among others. All traders who pass a challenge must complete an identity verification (KYC) process before receiving their funded account.

Payment Methods for Challenges

The purchase of a challenge can be made through two main payment methods: Cryptocurrencies and Stripe, which processes payments with debit and credit cards.

Customer Support

Think Capital’s support team is accessible through the industry’s standard channels, including a live chat on their website and email support at the address support@thinkcapital.com.

Conclusion: Strengths and Key Considerations of Think Capital

Think Capital has positioned itself as a solid and credible option in the prop firm market, mainly thanks to its strategic alliance with ThinkMarkets. However, its offering presents a series of nuances that traders must carefully evaluate.

Strengths

Credibility and Stability: The backing of a multi-regulated broker like ThinkMarkets is its greatest asset, offering a sense of security and longevity.
Flexibility and Choice: With three evaluation models (1, 2, and 3 phases), the firm caters to virtually all trader profiles.
“A La Carte” Customization: The add-on system allows traders to pay only for the advanced features they need, which can reduce the entry cost for those with a simpler trading style.
Solid Technology: The offering of MT5 and the proprietary ThinkTrader platform with full TradingView integration is a very strong technological point.
Clear Rules for Swing Traders: The explicit permission to hold trades overnight and over the weekend is a significant advantage for medium and long-term strategies.

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