FXTM vs. ThinkMarkets Broker Comparison

FXTM vs. ThinkMarkets Broker Comparison

FXTM versus ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$5MT4, MT5250+FCA, CySEC, FSCA, FSC
NoneMT4, Trade Interceptor200+FCA, ASIC

FXTM and ThinkMarkets Comparison

FXTM provides a Cent account with a very low minimum deposit. ThinkMarkets has a Standard account with no minimum deposit. Each offers MT4, though FXTM can also provide MT5. However ThinkMarkets provides Trade Interceptor for its Standard account, along with MT4.

While each offers CFD trading, in the UK ThinkMarkets can also provide spread betting on MT4. Both brokers offer ECN trading accounts, for a higher minimum deposit and allow the use of Expert Advisors (MT4 trading robots).

Both brokers are regulated by the FCA in the United Kingdom. FXTM is additionally regulated by the CySEC in Cyprus. ThinkMarkets is additionally regulated by the ASIC in Australia. FXTM is licensed by the FSCA in South Africa and regulated by the FSC in Mauritius.

Quick comparison

Each offers a range of account types, including ECN trading on MT4. FXTM also offers this kind of trading on MT5. ThinkMarkets has a Standard account on MT4 and Trade Interceptor and an MT4 spread betting account in the UK. FXTM has Standard, Cent and Shares accounts, in addition to its ECN accounts.

Minimum deposit and account types

The minimum deposit for FXTM is $5 and for ECN trading $200. ThinkMarkets does not have a minimum deposit for its Standard account and for its ThinkZero account has a minimum deposit of $500.

  • FXTM provides three Standard accounts. These are the Standard, Cent and Shares accounts. The minimum deposit for the Cent account is $/€/£5 or ₦1,000 and the minimum deposit for the Standard and Shares account is $/€/£100 or ₦20,000. These are instant execution accounts (they are not no dealing desk). Micro lot trading is available for all account types. Scalping is allowed only on the ECN accounts. FXTM provides a range of tools, including signals, daily market analysis, news and an economic calendar.
  • FXTM offers a number of ECN accounts. There include the FXTM ECN Account, the ECN Zero, the FXTM ECN MT5, the Strategy Account, FXTM Pro and FXTM Pro MT5. The ECN and MT5 accounts charge commissions, the others do not. The minimum deposit for the ECN Zero account is $/€/£200 or ₦20 000, the minimum deposit for the FXTM ECN MT5 account is $/€/£500 or ₦20,000, the minimum deposit for the Strategy Account is $/€/£100 and the minimum deposit for the FXTM Pro accounts is $/€/£25,000 or ₦5,000,000.
  • ThinkMarkets offers both CFD trading and spread betting. It offers 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

  • FXTM can offer slightly different numbers of markets for each ECN account types, which can be between 35+ and 60+. The FXTM ECN account offers 60+. All the accounts provide Forex and Precious Metals, the FXTM ECN account can also offer Energy and Indices.
  • For the non-ECN accounts, FXTM can offer more markets on the Standard account, with 75+ covering Forex, Precious Metals, Energy and Indices. The Cent account offers less, at 25+, covering Forex and Precious Metals. FXTM also has a non-ECN account which provides 180+ Shares CFDs. The total is 250+ across all accounts.
  • ThinkMarkets offers 200+ covering Forex, Metals, Commodities, Indices, Cryptocurrencies and Shares.

Spreads and leverage

  • Spreads at FXTM are variable, and for EUR/USD are from 1.3 on the Standard account, 1.5 on the Cent account, 0.1 on the ECN account, 0.5 on the ECN Zero account, 0.2 on the FXTM ECN MT5 account, 0.3 on the Strategy account and 0 on the FXTM Pro accounts.
  • FXTM offers a typical spread of 5.0 (Standard) and 1.5 (ECN) for UK100, a minimum spread from .107 (Standard) and .05 (ECN) for Gold and a typical spread of 0.09 (Standard) and 0.04 (ECN) For US Oil. The Shares Account has spreads on Share CFDs from 0.1.
  • Spreads on ThinkMarkets can vary with account type and types of trading and are variable. Spread betting Standard spreads 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.

Maximum leverage at FXTM (FCA or CySEC regulated) is . Maximum leverage for ThinkMarkets (FCA regulated) is .

Commissions

  • FXTM charges a commission starting at $2 per lot per side, depending on the equity in the account and the volume traded. There is no commission charged for the ECN Zero, Strategy or Pro accounts or the non-ECN accounts.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for the ThinkZero account.

Platforms

The FXTM ECN accounts provides MT4 for desktop and mobile and a web trader which is based on MT4. The FXTM ECN MT5 account provides MT5.

ThinkMarkets offers both MT4 and Trade Interceptor, which are available for desktop, tablet and mobile. Trade Interceptor is available for the Standard account and MT4 is available for all account types (including spread betting).

Both of these brokers offer micro lot trading. FXTM offers micro lot trading for all its account types as does ThinkMarkets.

Why FXTM or ThinkMarkets ?

Both brokers offer MT4 trading and support both automated and non-automated trading. Additionally FXTM offers MT5, which is the successor to MT4. ThinkMarkets additionally provides Trade Interceptor which supports traders who make their own trading decisions (vs using robots).

Comparison summary

  • Both offer MT4
  • FXTM also provides MT4
  • ThinkMarkets also offers Trade Interceptor
  • Both provide CFD trading
  • In the UK, FXTM also offers MT4 spread betting
  • ThinkMarkets has no minimum deposit for its Standard account
  • FXTM has a very low minimum deposit for its Cent account

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