City Index vs ThinkMarkets Comparison

City Index vs ThinkMarkets Broker Comparison

City Index versus ThinkMarkets
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, Advantage Web, Web Trader, AT Pro12,000+FCA, ASIC
NoneMT4, Trade Interceptor200+FCA, ASIC, MAS

City Index and ThinkMarkets Comparison

These brokers offer CFD trading and in the UK, spread betting. They provide web traders and MT4. On MT4 ThinkMarkets has ECN trading, offering low spreads plus a commission charge. ThinkMarkets can also provide MT4 spread betting in the UK. City Index offers spread betting in the UK on its web traders and AT Pro.

City Index offers many more markets than ThinkMarkets, but on MT4 for CFD trading ThinkMarkets has more. Both have a range of cryptocurrencies to trade (but not own), available as CFDs and spread betting products. Both brokers are regulated by the FCA in the United Kingdom and the ASIC in Australia. City Index is additionally regulated by the MAS in Singapore.

Quick comparison

On MT4 these brokers have a similar number of markets. On their respective web traders, City Index has considerably more. ThinkMarkets has MT4 ECN trading. Both support automated as well as discretionary trading (i.e. web traders along with MT4). City Index also has support for chart based trading signals on AT Pro.

Discretionary and automated trading

Both brokers provide support for automated trading (where a program makes these decisions) by offering MT4, and discretionary trading (where the trader makes trading decisions) by offering web traders (and MT4).

Minimum deposit and account types

City Index does not have a minimum deposit. ThinkMarkets does not have a minimum deposit, except for its ThinkZero account which has a minimum deposit of $500.

  • City Index offers CFD trading and spread betting. City Index provides a news feed, market reports and a Trading Academy.
  • ThinkMarkets offers both CFD trading and spread betting. It provides the Standard account and the ThinkZero account. An Islamic account is available. 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, ThinkZero account does charge a commission.
  • ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service. The ThinkZero account also provides Autochartist and an account manager.

Markets

  • On Advantage Web, Web Trader and AT Pro, City Index provides Forex pairs, Indices, Energy, Metals, Shares, Cryptocurrencies, ETFs, Soft Commodities, Bonds, Interest Rates, IPOs and Options, with 12,000+ on offer.
  • On MT4, City Index offers Forex pairs, Indices, Energy, Metals and Soft Commodities, with 110+ available.
  • On Trade Interceptor, ThinkMarkets offers Forex pairs, Indices, Energy, Metals, Soft Commodities, Shares and Cryptocurrencies, with 195+ available.
  • On MT4 (CFD trading), ThinkMarkets provides Forex pairs, Indices, Energy, Metals, Soft Commodities, Shares and Cryptocurrencies, with 200+ on offer.
  • On MT4 (spread betting), ThinkMarkets offers Forex, Indices, Precious Metals and Cryptocurrencies, with 60+ available.

Thus City Index offers many more markets to trade except when MT4 (CFD trading) is compared, in which case ThinkMarkets offers more.

City Index offers 80+ Forex pairs on MT4, ThinkMarkets offers 40+ Forex pairs on MT4.

Cryptocurrencies

  • City Index offers Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple (for CFD trading or spread betting).
  • For CFD trading, ThinkMarkets offers Bitcoin, Ethereum, Bitcoin Cash, Dash, Neo and Bitcoin Gold.
  • For spread betting, ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, Neo, Monero, ETP, Iota, OmiseGO, and Zcash.

Spreads

  • City Index provides variable spread betting spreads, from 0.8 for EUR/USD, a target spread of 1 for UK100, and average of 0.20 for Gold and 0.04 for US Oil and an extra 0.2% for Shares.
  • Spreads on ThinkMarkets can vary with account type and types of trading. Spread betting Standard spreads are variable and are from 0.8 for EUR/USD, with a target spread from 1 for UK100 and with an average spread of 0.20 for Gold and 0.04 for US Crude Oil.
  • ThinkMarkets CFD Standard spreads are variable and are from 0.4 for EUR/USD, with a target spread from 1 for UK100 and from 0.25 for Gold and 0.03 for US Crude Oil. On the ThinkZero account, Forex spreads can be as low as 0 with commissions of $3.5 per lot per side.

Leverage

  • The maximum leverage for City Index (FCA Regulated) is . The maximum leverage for ThinkMarkets (FCA Regulated) is .
  • The maximum leverage for City Index (ASIC regulated) is 200:1. The maximum leverage for ThinkMarkets (ASIC regulated) is 500:1.

Commissions

City Index does not charge commissions, except for Shares CFDs.

ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 or £2.5 per lot per side side for the ThinkZero account.

Platforms

  • City Index offers two web trading platforms (Advantage Web and Web Trader), MT4 and AT Pro. ThinkMarkets offers both MT4 and the Trade Interceptor platform. Both brokers have mobile apps.

Why City Index or ThinkMarkets ?

Both brokers support discretionary trading, where the trader makes their own trading decisions, by providing web traders, though City Index in fact offers as well AT Pro which is an advanced downloadable platform, with a large number of technical indicators and signals. Trade Interceptor, offered by ThinkMarkets is a simplified platform, offering a level of ease of trading. Both provide CFD trading on all their platforms. ThinkMarkets offers spread betting on MT4, while City Index also offers this on its two web traders. For traders who want a large number of markets, City Index has many more, though they are comparable on MT4. For automated traders, ThinkMarkets has an ECN account, with a higher minimum deposit.

Comparison summary

  • Both brokers provides CFD trading and spread betting
  • ThinkMarkets also offers ECN trading
  • Both brokers offer low variable spreads without a commission charge
  • ThinkMarkets can also provide very low spreads with a commission charge for ECN trading
  • Both brokers offer MT4 and web traders
  • City Index also provides AT Pro
  • City Index can offer many more individual markets than ThinkMarkets on Web Trader, Advantage Web and AT Pro vs Trade Interceptor
  • They have a similar number on MT4, though ThinkMarkets has more for CFD trading
  • City Index has many more markets for spread betting
  • ThinkMarkets has MT4 spread betting

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