IC Markets vs. ThinkMarkets Broker Comparison

IC Markets vs. ThinkMarkets Broker Comparison

IC Markets versus ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC
NoneMT4, Trade Interceptor200+FCA, ASIC

IC Markets and ThinkMarkets Comparison

IC Markets is an ECN broker, offering MT4, MT5 and cTrader. ThinkMarkets can offer ECN trading on MT4, on its ThinkZero account. It also has a Standard account on MT4 and Trade Interceptor. In the UK, ThinkMarkets offers spread betting on MT4. Both utilise Equinix data centres to co-locate their servers with those of liquidity providers, with the aim of high speed order transmission, which can be important for automated trading strategies, which both brokers allow. For traders who make their own trading decisions, i.e. who do not trade with robots, ThinkMarkets's Trade Interceptor provides a user friendly trading platform. IC Markets is regulated by the ASIC in Australia and ThinkMarkets is regulated by the FCA in the United Kingdom and the ASIC in Australia.

Quick comparison

Both offer MT4 ECN trading, ThinkMarkets has a higher minimum deposit for this type of trading. IC Markets also provides MT5 and cTrader. ThinkMarkets also offers Trade Interceptor. For its Standard account, which can offer tight spreads without a commission charge, ThinkMarkets does not charge a commission.

Minimum deposit and account types

The minimum deposit for IC Markets $200. There is no minimum deposit for ThinkMarkets's Standard account, but there is a minimum deposit of $500 for the ThinkZero account.

  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets has a focus on providing fast low latency ECN trading conditions. IC Markets provides Forex news, video tutorials and and economic calendar on its website.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions.
  • 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

  • IC Markets offers 230+, covering Forex, Metals, Energy, Indices, Cryptocurrencies, Stocks, Soft Commodities, ETFs and Bonds.
  • ThinkMarkets offers 200+, covering Forex, Metals, Energy, Indices, Cryptocurrencies and Stocks.

Cryptocurrency CFDs

  • IC Markets provides Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Rippple, Emercoin, Namecoin, Peercoin and EOS.
  • ThinkMarkets provides Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, Bitcoin Gold, Monero, ETP, Iota, NEO, OmiseGO, and Zcash.

Spreads and leverage

  • Spreads at IC Markets are variable and are from -0.3 for EUR/USD on cTrader (0.0 on MT4), 0.3 for Gold (average 1.3), 1 for UK100 and 0.01 for US Crude Oil. For the Standard account EUR/USD spreads are from 1.
  • 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.

Maximum leverage at IC Markets is 500:1. Maximum leverage for ThinkMarkets (FCA regulated) is .

Commissions

  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side. Commissions are charged only for Forex and Metals.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of 3.5 units of currency per lot per side (e.g. £/$3.5 per side) for the ThinkZero account.

Online trading platforms

IC Markets provides a web trader, MT4, MT5 and cTrader (including cAlgo) and supports trading automation.

ThinkMarkets offers both MT4 and Trade Interceptor, which are available for desktop, tablet and mobile.

Both of these brokers offer micro lot trading.

Why IC Markets or ThinkMarkets ?

Both offer ECN trading accounts, offering low spreads with a commission charge with no dealing desk intervention and use Equinix infrastructure for high speed order execution. IC Markets has other ECN friendly trading platforms, as in addition to MT4 which ThinkMarkets offers, it provides MT5 (MT4's successor) and cTrader. However for traders who do not use robots, ThinkMarkets provides Trade Interceptor, which is an accessible user friendly platform.

Comparison summary

  • IC Markets and ThinkMarkets both provide ECN trading with a competitive commission charge
  • Both brokers provide accounts with no commission charge and higher Forex spreads
  • Each has no dealing desk order intervention
  • Both offer MT4
  • IC Markets also provides MT5 and cTrader
  • Each supports trading with robots, via MT4 and for IC Markets MT5 and cTrader (these platforms can also be used for non-automated trading)
  • Both use Equinix data centres for high speed order execution
  • ThinkMarkets also offers Trade Interceptor, supporting human discretionary trading

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