IronFX vs. ThinkMarkets Broker Comparison

Compare IronFX vs ThinkMarkets

IronFX versus ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT4200+FCA, ASIC, CySEC, FSCA
NoneMT4, Trade Interceptor200+FCA, ASIC

IronFX and ThinkMarkets Comparison

Both IronFX and ThinkMarkets provide a range of account types, including accounts which can have low Forex spreads plus a commission charge as well as accounts which do not charge commissions. Each offers MT4. ThinkMarkets additionally provides Trade Interceptor. In the UK, ThinkMarkets offers spread betting on MT4. IronFX is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the Australian ASIC and the FSCA in South Africa. ThinkMarkets is regulated by the FCA and the ASIC.

Quick comparison

Both offer ECN trading on MT4. ThinkMarkets also provides a Standard account on MT4 and Trade Interceptor. IronFX has a range of account types on MT4.

Minimum deposit and account types

The minimum deposit for IronFX is $100. ThinkMarkets does not have a minimum deposit for its Standard account and for its ThinkZero account has a minimum deposit of $500.

  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots.
  • IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN account, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
  • All IronFX accounts offer a dedicated account manager, technical analysis reports, investor education tools and private one-on-one trading guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a dealing department transaction hotline.
  • 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.

Thus for higher deposits IronFX can provide lower fixed or variable spreads. For higher deposits ThinkMarkets provides trading with spreads from 0, plus commission.

Markets

  • IronFX offer Currency Pairs, Indices, Commodities, Stocks, Cryptocurrencies and ETFs.
  • ThinkMarkets offers Currency Pairs, Indices, Commodities, Stocks and Cryptocurrencies.

IronFX provides 200+ individual markets to trade, ThinkMarkets provides 200+.

Cryptocurrencies

  • IronFX offers Bitcoin, Ethereum, Litecoin, Ripple and ADA.
  • ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Iota, Monero, Bitcoin Gold, Dash, NEO, Zcash, ETP and OmiseGO.

Spreads and leverage

  • The spreads IronFX makes available to traders can vary depending on the account type. The fixed spreads of the Micro Account are 2.2 for EUR/USD and 0.5 for Gold (XAU/USD), but EUR/USD has a fixed spread of 1.6 on the VIP account. The variable spreads for the Micro account are from 1.1 for EUR/USD and from 0.5 for Gold. The variable EUR/USD spread has a low of 0.5 on the VIP account.
  • UK100 on IronFX has a variable spread from 0.8, US Crude Oil has a variable spread from 0.04 and Bitcoin has a spread from 10. The lowest possible spread for EUR/USD is 0 and for XAU/USD is 0.15, with a commission charge. The Absolute Zero account has ECN spreads, without a commission charge.
  • 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 on IronFX (FCA or CySEC regulated) is . Maximum leverage on ThinkMarkets (FCA regulated) is .

Commission charge

  • IronFX has a commission charge from $6.75 per lot per side.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for its ThinkZero account.

Platform

Each offers MT4. ThinkMarkets additionally provides Trade Interceptor.

Why IronFX or ThinkMarkets ?

While both brokers offer web traders, IronFX is an MT4 broker and its web trader is based on MT4. ThinkMarkets offers Trade Interceptor, which is has clear simplified layout. Both provide CFD trading, but in the UK ThinkMarkets offers MT4 spread betting. Both provide MT4 ECN accounts, though ThinkMarkets has a higher minimum deposit for its ThinkZero account.

Comparison summary

  • Both brokers offer MT4
  • Each has a range of account types, including ECN trading
  • ThinkMarkets offers a Standard account on MT4 and Trade Interceptor
  • IronFX provides a range of accounts types including STP/ECN accounts on MT4
  • For ECN trading ThinkMarkets has a higher minimum deposit
  • In the UK, ThinkMarkets can offer spread betting on MT4

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