24Option vs ThinkMarkets - Online Brokerage Comparison

24Option vs ThinkMarkets | Compare Trading Brokers

24Option vs ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$250MT4, Web Trader & Apps250+CySEC, IFSC
NoneMT4, MT5, Trade Interceptor1000+FCA, ASIC, FSCA

24Option vs ThinkMarkets Comparison

ThinkMarkets has no minimum deposit for its Standard account, but requires a minimum deposit of $500 for its ThinkZero account (24Option has a minimum deposit of $250). ThinkMarkets's ThinkZero account can offer Forex spreads from 0, for the most liquid pairs, plus a commission charge. ThinkMarkets has no dealing desk order intervention and uses Equinix data centers, which helps ensure high speed order processing.

ThinkMarkets's trading servers are located in data centers with the servers of liquidity providers, this physical proximity allied with fibre optical cabling and other technology helps deliver low latency (delay) processing. For some approaches to trading, particularly automated trading strategies, low latency can be important. ThinkMarkets offers MT4 and MT5, thus allowing the trader to trade with automated and non-automated strategies.

24Option also provides MT4 and in addition offers a user friendly web trading platform and apps. ThinkMarkets however also offers a user friendly platform for the human trader, in the form of Trade Interceptor. While both brokers provide CFD trading on their platforms, in the UK ThinkMarkets also offers MT4 and MT5 spread betting. In both CFD trading and spread betting, the trader can trade a market without owning it.

24Option is regulated by the CySEC in Cyprus and the IFSC in Belize. ThinkMarkets is regulated by the FCA in the United Kingdom and the ASIC in Australia and is licensed by the FSCA in South Africa.

Quick comparison

Both brokers offer MT4 and provide user friendly web traders. ThinkMarkets has no minimum deposit for its Standard account and additionally offers MT5.

Minimum deposit and key account features

The minimum deposit for 24Option is $/€/£250. There is no minimum deposit for ThinkMarkets.

  • 24Option offers a Basic account, a Gold account, a Platinum account and a VIP account. The minimum deposit for Basic is $250, the minimum deposit for Gold is $5000, the minimum deposit for Platinum is $10,000 and the minimum deposit for VIP is $50,000. The higher account types have lower spreads and extra features. 24Option offers an Economic Calendar, Market Reports, Analysis and Videos on its website and Trading Central.
  • ThinkMarkets offers both CFD trading and spread betting. It offers the Standard account and the ThinkZero account. An Islamic account is available. ThinkMarkets utilises Equinix data centers for all account types, namely LD4 (London) and HK4 (Hong Kong). There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $/£500. The Standard account does not charge commissions, the ThinkZero account does charge a commission. EAs and scalping are allowed. The minimum trade size is 0.01 standard lots.
  • ThinkMarkets account types provide 24/6 Live Support and a free VPS Service, T&Cs apply. The ThinkZero account also offers AutoChartist and an account manager. Market News and Webinars are available from the website.

Markets

  • 24Option offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 250+ available.
  • ThinkMarkets provides Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 1000+ available.

Cryptocurrency CFDs

  • 24Option offers Bitcoin, Ethereum, Litecoin, Ripple, DASH, Ethereum Classic, Bitcoin Gold, Stellar and Monero.
  • ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Leverage

Maximum leverage for 24Option (CySEC regulated) is . Maximum leverage for ThinkMarkets (FCA regulated) is 500:1.

Online trading platforms

Both offer MT4 and web traders. ThinkMarkets additionally provides MT5. Both brokers offer mobile apps.

Why 24Option or ThinkMarkets ?

Traders who wish to use MT4 can find this platform at either broker. Traders who want to trade on MT5, the succesor to MT4, can find this platform at ThinkMarkets. Automated traders may find ThinkMarkets's no dealing desk intervention and low latency order processing to be important for strategies they may use. Traders who make their own trading decisions can use ThinkMarkets's user friendly web trader (Trade Interceptor). 24Option also provides MT4 and a user friendly web trader where traders can find a range of CFD market to trade (though ThinkMarkets has more).

Comparison summary

  • Both offer CFD trading
  • Each provides MT4
  • ThinkMarkets additionally offers MT5
  • In the UK, ThinkMarkets offers MT4 and MT5 spread betting
  • Both provide web traders and apps
  • ThinkMarkets has no minimum deposit for its Standard account

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