| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| Oanda | None Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda is an MT4 and MT5 broker with a wide range of trading tools for these platforms About |
| ThinkMarkets | None Minimum Deposit | MT4, MT5, ThinkTrader Trading Platforms | 3500+ Markets To Trade | ThinkMarkets offers MT4 and MT5 along with user friendly ThinkTrader, with 3500+ Stocks CFDs to trade About |
Oanda vs ThinkMarkets Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs ThinkMarkets in Bermuda. Oanda is a long established MT4 broker with a wide range of tools to support traders who use this platform and also provides MT5, the successor to MT4. ThinkMarkets offers both MT4 and MT5 and provides a user friendly platform (ThinkTrader).
Quick comparison
Both brokers provide MT4 and MT5, while ThinkMarkets additionally provides ThinkTrader.
Minimum deposit and account features
There is no minimum deposit requirement for Oanda. There is no minimum deposit requirement for ThinkMarkets's Standard account.
- 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. EAs and scalping are allowed. Social and copy trading is supported via ZuluTrade.
- 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. ThinkMarkets offers Market News, Webinars, an Economic Calendar and Tutorials on its website.
- Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
- The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.
Markets
- Oanda offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 800+ available.
- ThinkMarkets provides Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 3500+ available.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda is a long established MT4 broker also offering MT5, with a wide range of tools to support automated traders and those who execute their own trades and allows traders to deposit up to $9,000 without verification Description |
| ThinkMarkets Broker | MT4, MT5, ThinkTrader Trading Platforms | ThinkMarkets supports automated trading on MT4 and MT5, provides user friendly ThinkTrader and allows Bitcoin, Ethereum and Tether deposits and withdrawals Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for ThinkMarkets (Bermuda) is 500:1.
Commissions
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot for its Premium Core account.
- 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.
Online trading platforms
Oanda offers MT4 and MT5. ThinkMarkets offers MT4, MT5 and ThinkTrader.
Foundation
Oanda was founded in 1996. ThinkMarkets was established in 2010.
Payment methods
Both brokers support Bank Transfer, Credit/Debit Cards, Skrill and Neteller. Oanda additionally supports SafeCharge. ThinkMarkets additionally allows account funding and withdrawal by Bitcoin, Ethereum and Tether.
Why Oanda or ThinkMarkets ?
Traders who want to trade on MT4 or MT5 can find these platforms at either broker. Traders who want a user friendly platform for traders who execute their own trades can find ThinkTrader at ThinkMarkets. Those who want to trade using online trading robots, may do so at either. Traders who want to trade 3500+ Stocks CFDs, can do so at ThinkMarkets.
Comparison summary
- Both offer CFD trading
- Both provides MT4 and MT5
- ThinkMarkets additionally offers user friendly ThinkTrader
- ThinkMarkets allows Bitcoin, Ethereum and Tether account funding
- Oanda Global lets traders deposit up to $9,000 without verification
- ThinkMarkets has 3500+ Stocks CFDs to trade
