Thndr

Thndr publishes its price list in its help centre, broken down by market. On the Egyptian Exchange (EGX) the brokerage on shares and ETFs is EGP 2 per order plus 0.1% of the executed value, on buys and sells. Thndr's own example is a buy order of EGP 5,000: EGP 2 fixed plus EGP 5 variable, EGP 7 in total. The Thndr Trader help article words the same fee as 0.1% with an EGP 2 minimum, which would make that order EGP 5; we follow the fee article and its worked example. On top come third-party fees that Thndr says it passes through at cost:

• EGX 0.01% and MCDR 0.01% per order, each capped at EGP 5,000
• FRA 0.005% per executed transaction, with a minimum of EGP 1 and a maximum of EGP 250
• Risk insurance, a government-mandated investor protection fund, 0.005% per order
• Stamp duty of 0.05% per order, or 0.025% when the same shares are bought and sold in one session; Thndr charges 0.05% first and refunds the difference

On the EGP 5,000 example the third-party fees add EGP 4.75, so the order costs EGP 11.75 in total. MCDR also charges an annual custody fee of 0.01% of the market value of the share portfolio on 31 December, taken from the wallet in January. According to the English fee article, mutual fund orders carry no Thndr fee or commission; the funds' own subscription and redemption fees still apply. The Arabic version of the fee article (updated 18 October 2026) contradicts itself here: its introduction says the same, but its mutual-fund section still applies EGP 2 plus 0.1% per fund order. Thndr Gold, built on Thndr Asset Management's gold fund, has its own fee of 1.5% on buys and 0% on sells.

The US market costs USD 0.20 per order plus 0.1% of the order value and a per-share fee. Here the help centre contradicts itself: the general fee article (English version of 18 August 2026, Arabic version of 18 October 2026) gives USD 0.0015 per share plus USD 0.000199 in third-party fees, while the US fee article updated on 25 October 2026 gives USD 0.005 per share. The UAE market (ADX) costs AED 0.49 per order plus 0.1%, with 0.03125% in third-party fees and 0.00125% VAT. The Thndr Trader subscription (EGP 245 a month or EGP 2,646 a year) refunds the commission on 50 Egyptian share or ETF orders a month. Each withdrawal from the Egyptian wallet costs EGP 2.5. We found no inactivity fee in Thndr's documents, but no statement that there is none either.

Thndr is not one company but several. In Egypt, Thndr Securities Brokerage holds licence no. 804 from the Financial Regulatory Authority (FRA) for securities brokerage, dated 12 August 2020 in the FRA register, and Thndr names it as a member firm of the EGX. A sister company, Thndr Technology Holding (FRA licence 796), is registered for custody, portfolio management and fund management; Egyptian shares traded through Thndr sit in its custody under custodian code 4625. Outside Egypt, Thndr Financial Ltd (ADGM registered number 13534) holds Financial Services Permission 240002 from the FSRA, active since 31 January 2024, for dealing in investments as agent in shares and fund units. The FSRA register adds a condition: the firm may not hold or control client investments. US orders are therefore executed, and US shares held, by Alpaca Securities LLC (FINRA #288202, SEC #8-69928), which Thndr's footer names as a FINRA and SIPC member; that is Alpaca's licence, not Thndr's. The privacy notice calls Thndr Financial Ltd a subsidiary of Axis Markets B.V., which owns the platforms and the brand.

On client assets, Thndr says cash is held in trust accounts at Egyptian banks, separate from company money, and that EGX shares are registered at MCDR under your national ID, so they remain yours if Thndr stops operating; you can check holdings at any MCDR branch. Thndr also says it is a member of Egypt's Investor Protection Fund and that its financials are audited regularly by independent third parties. We could not confirm the fund's current limit from a primary source.

There is no listed parent and no banking licence, and Thndr's Instant Deposit terms show that a cash balance can go negative, after which Thndr sells the most recent purchases to cover it. That is why our safety score of 3.2 sits well below the bank-owned brokers. None of these protections covers falling prices.

Thndr's core is the Egyptian market: EGX-listed shares such as the names its homepage cites (Edita, Orascom, Fawry, Juhayna), EGX-listed ETFs, IPO subscriptions and rights issues (EGP 60 per rights subscription, free for Thndr Trader subscribers), and a shelf of FRA-licensed mutual funds from managers such as Azimut, Al Ahly and Thndr's own asset manager, covering equity, fixed-income, money-market and gold funds. Thndr Gold is a gold fund managed by Thndr Asset Management that the app shows in grams, from 0.001 gram, with a 1.5% fee on buys, 0% on sells and three executions per working day.

The US market runs through Thndr Financial Ltd: US stocks and ETFs with market, limit, stop and advanced limit orders, and fractional shares on market orders for most stocks priced above USD 1 with a market capitalisation above USD 25,000,000. According to Thndr, no minimum investment is required for the US market. Prices in the app are not live: Thndr says charts lag about 5 minutes and prices update about every 15 minutes. Since August 2025 Thndr has also been a remote trading member of the Abu Dhabi Securities Exchange (ADX), so ADX-listed shares and ETFs can be bought from an AED wallet.

What is missing matters as much. We found no options, futures, bonds, CFDs, forex, margin lending or crypto anywhere on thndr.app or in the help centre. The US and UAE wallets need a foreign-currency bank account: according to Thndr, transfers from an EGP account will most likely be rejected. Egyptian-market cash, by contrast, can only be withdrawn to EGP accounts in Egypt, so the three wallets stay separate.

The Thndr app for iPhone, Android and Huawei AppGallery is the product. It covers sign-up, the wallet, orders on three markets, funds, Thndr Gold, the savings Clouds and Alpha, an assistant that suggests a fund portfolio from a short questionnaire and invests it in one step. On the Egyptian App Store the app had about 4.3 out of 5 from about 6,100 ratings on 2 November 2026. A browser login exists at web.thndr.app.

For active traders there is ThndrX at x.thndr.app, a multi-panel web platform with TradingView-powered charts, the live order book, bracket orders with stop loss and take profit, screeners, company financials and portfolio analytics. It is linked to the same account and wallet, but only with the Thndr Trader subscription (EGP 245 a month or EGP 2,646 a year), which also brings real-time EGX prices, price depth and the trades book, and only for the Egyptian market. A separate plan, Thndr Trader UAE, costs AED 39 a month or AED 421 a year and adds real-time ADX prices and price depth.

Research comes from Rumble, Thndr's paid research service, which Thndr says is written by licensed analysts and covers the EGX, the UAE and the US: fundamental calls and model portfolios (EGP 100 a month), technical calls and watchlists (EGP 100 a month), or both (EGP 200 a month), with a 30-day free trial; outside Egypt only the combined plan is sold, at AED 100 a month. Without a subscription the app shows each fund's fact sheet with its cut-off time and order days; real-time EGX prices and price depth come only with Thndr Trader. We found no trading API.

Sign-up runs in the app with an email, Google or Apple login, a liveness check and a live photo of your ID. Egyptians in Egypt use the national ID; foreign residents of Egypt use a passport, UAE residents an Emirates ID, Saudi residents a Saudi ID or residency card and residents of other countries a passport. Proof of address is needed when the ID does not show your residential address, and residents outside Egypt and the GCC also enter a tax identification number; Thndr adds that some countries or nationalities are not supported, and US citizens cannot open an account. The minimum age is 15 for the Egyptian market and 18 for the US and UAE markets. Before the first trade you sign a brokerage and a custody agreement, digitally for most users, whom Thndr verifies automatically through an Egyptian national ID and a mobile number registered in their name, otherwise through a manual signature step that Thndr reviews in 2 to 3 business days. Thndr advertises same-day activation.

The Egyptian wallet takes InstaPay (the network charges 0.1%, between EGP 0.5 and EGP 20), Vodafone Cash (0.7%, instant), other e-wallets, bank transfers from Egyptian banks and cash deposits at CIB branches; debit-card top-ups have been unavailable since 6 September 2026. Thndr states no fee of its own for InstaPay or CIB cash deposits; for Egyptian bank transfers its top-up guide lists only the sending bank's own fees, usually not more than EGP 100. Withdrawals cost EGP 2.5 each and go only to an EGP account in your name in Egypt or to the e-wallet of your registered number: CIB and e-wallets within one day, other banks within one working day (Sunday to Thursday, 09:00 to 14:45). Sale proceeds settle at T+2; Instant Settlement releases them early for 0.3% (minimum EGP 5, from EGP 300).

The USD and AED wallets take bank transfers from your own non-EGP account, same day from inside the UAE and 3 to 5 business days from abroad, plus debit cards: 0.84% plus USD 0.84 for a local UAE card or 4.2% plus USD 0.53 for an international card on the USD wallet (which also takes Apple Pay), 0.9% plus AED 3.1 or 3.7% plus AED 1.1 on the AED wallet. US withdrawals carry no Thndr fee and a USD 25 minimum; AED withdrawals cost AED 10.5 to UAE banks and nothing to banks abroad, with an AED 45 minimum.

Beyond trading, Thndr is built around saving. Thndr Clouds sweeps EGP into mutual funds that invest mainly in Egyptian treasury bills. Instant Savings can be withdrawn at any time without a fee; Monthly Savings withdrawals are free if scheduled at least 2 business days before the last Tuesday of the month and otherwise cost 0.25%. Thndr showed an APY of 17.47% and 20.23% respectively 'as of 01-06-26' and stresses that the figure annualises the past 30 days and is not guaranteed; it is a fund yield, not interest on cash. Recurring orders exist for shares and funds, and Alpha can set up monthly contributions to a fund portfolio. Thndr Fortune, a status from EGP 500,000 in Egyptian-market assets, adds a phone line, priority chat and a free Rumble subscription.

For Muslim investors Thndr describes several dedicated tools, always in its own words. The Explore tab has a Sharia tab in Thndr Lists with individual shares that Thndr identifies as meeting Sharia criteria, the EGX33 Shariah Index to follow, and a search for funds Thndr lists as Sharia funds, including Azimut Sharia Opportunities, Misr Shariah Equity Fund and Naeem Misr Sharia Equity Fund. Thndr Gold operates, according to Thndr, under a Sharia committee headed by Dr. Magdy Ashour; the fund behind Instant Savings is overseen, according to Thndr, by a Sharia committee of scholars registered with the FRA, while the Monthly Savings fund does not carry that designation. The zakat calculator in the app was, according to Thndr, reviewed by Dr. Magdy Ashour, former scientific adviser to the Grand Mufti of Egypt, and applies 2.5% for the Hijri year or 2.577% for the Gregorian year. Brokaro does not judge whether any of this meets your own standard.

Thndr Learn is a public education site with articles graded by level (from 'I'm money minded' through 'I'm ready to invest' to 'I'm an investor'), a glossary, videos, webinars and Learn In Person sessions. The investing simulator in the app gives you 100,000 units of virtual currency to practise with. The help centre itself is thorough and bilingual in Arabic and English, with worked examples on fees, settlement, transfers and US dividend tax.

Support is where Thndr is thinnest. Almost every help article sends you to the in-app chat; the privacy notices also name support@thndr.app for questions about the services, but we found no published support hours and no general support phone line (Thndr warns that genuine emails come only from @thndr.app, @system.thndr.app and @mail.thndr.app). Phone support exists, but as a perk: Thndr Fortune clients with EGP 500,000 or more in Egyptian-market assets get a dedicated line, and Thndr Trader UAE subscribers can request a call; Thndr Trader subscribers in Egypt get priority chat.

Manual steps take time too. Signature reviews take 2 to 3 business days, US share transfers 7 to 10 business days, with a USD 25 fee for an outgoing ACATS transfer and 0.05% (minimum EGP 50) for moving Egyptian shares to another broker. Our support score of 2.8 reflects chat plus one email address, no stated hours and phone support only as a perk.