ThinkMarkets vs. UFX Broker Comparison

ThinkMarkets vs. UFX Broker Comparison

ThinkMarkets versus UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, Trade Interceptor200+FCA, ASIC
$100MT4, ParagonEx450+CySEC

ThinkMarkets and UFX Comparison

These brokers each offer web trading platforms (and apps) and MT4. ThinkMarkets has an account which can offer low spreads plus a commission charge, for a higher minimum deposit. UFX has a range of account types which offer extra services, for a higher minimum deposit.

ThinkMarkets provides the Trader Interceptor platform, UFX offers the ParagonEx platform. Both have a clear layout. ParagonEx has a crowd trading new feed, which shows aggregated behavior of other traders, referenced to market events and news. As well as CFD trading, ThinkMarkets offers spread betting on MT4. ThinkMarkets is regulated by the FCA in the United Kingdom and the ASIC in Australia. UFX is regulated by the CySEC in Cyprus.

Quick comparison

Both offer web traders and apps. Each also provides MT4. In the UK ThinkMarkets offers spread betting on MT4. UFX provides a crowd trading news feed on ParagonEx.

Minimum deposit and account types

There is no minimum deposit for ThinkMarkets's Standard account, but there is a minimum deposit of $500 for the ThinkZero account. The minimum deposit for UFX is $100.

  • 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.
  • UFX provides six account types, Micro/Mini, Mini, Standard, Gold, Platinum and Islamic. The minimum initial deposit is $100 for the Micro/Mini account, $500 for the Mini account, $1000 for the Islamic and Standard accounts, $5000 for the Gold account and $10,000 for the Platinum account. The minimum trade size ranges from 0.0025 lots for the Micro/Mini account to 1 lot for the Platinum account.
  • All UFX account types have daily market reviews, a video library, daily recommendations and 24hr live support. All except the Micro/Mini account provide a personal trading coach. Standard, Gold and Platinum accounts also have VIP trading support and exclusive updates. Gold and Platinum additionally provide SMS trading alerts and access to MT4.

Markets

  • ThinkMarkets offers Forex, Indices, Energy, Stocks, Metals and Cryptocurrencies, with 200+ on offer.
  • UFX offers Forex, Indices, Energy, Stocks, Precious Metals, Soft Commodities and ETFs, with 450+ on offer.

Cryptocurrency CFDs

  • ThinkMarkets provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Gold, Ripple, Dash, Monero, Iota, NEO, Zcash, OmiseGO and ETP (this is the total offering including CFD trading and spread betting).

Spreads and leverage

  • 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.
  • Spreads at UFX are fixed under normal market conditions but vary according to the account type. The lowest spreads are for the Platinum account at 2 for EUR/USD, 0.50 for Gold and 0.05 for US Crude Oil. For the Micro/Mini account spreads are 4 for EUR/USD, 0.75 for Gold and 0.11 for US Crude Oil. For the Standard account spreads are 3 for EUR/USD, 0.65 for Gold and 0.07 for US Crude Oil.

Maximum leverage for ThinkMarkets (FCA regulated) is . Maximum leverage for UFX is .

Platform

  • ThinkMarkets offers over 90 technical indicators on Trade Interceptor, UFX offers over 50 technical indicators on ParagonEx. ThinkMarkets provides,Candlesticks, Bar Chart, Line Chart, Heikin Ashi, HLC Chart, HL Chart, Mountain, Candlevolume, Equivolume, Renko, Point & Figure and Kagi charts and time frames from 1 minute to 1 month.
  • UFX provides candlestick, OHLC, line, hollow candles, Heikin-Ashi, Bar Forest, area, HLC, coloured bar HLC, dot chart and line dot charts and time frames from tick to 1 month.
  • Both brokers provide micro lot trading and offer MT4, but UFX makes this platform available only for higher account types.
  • ThinkMarkets provides a news feed on Trade Interceptor platform. UFX provide a news feed which aims to capture market event and the actions and reactions of traders to them, called MassInsights.
  • The platforms are visually different, and have functional differences with markets lists and charts for ThinkMarkets and markets boxes and the crowd trading news feed on the side for UFX.

Why ThinkMarkets or UFX ?

Both brokers offer MT4 and allow the trader to pursue automated trading strategies. However, ThinkMarkets supplies an ECN account which uses Equinix infrastructure for this account. For traders who make their own trading decisions, ThinkMarkets has an intuitive web trading platform, as does arguably UFX. UFX augments its platform with a crowd trading news feed, allowing the trader to use data about markets and the reaction of other traders to it. Both brokers offer CFD trading, but in the UK, ThinkMarkets has spread betting on MT4.

Comparison summary

  • ThinkMarkets offers tight competitive spreads to all traders, and for its ThinkZero account holders, offers Forex spreads from 0 plus a commission charge
  • UFX provides crowd trading insights to all its traders and more exclusive services in return for higher deposits
  • For a higher minimum deposit, ThinkMarkets offers ECN trading
  • Both brokers provide MT4, but UFX has a higher minimum deposit to use it
  • ThinkMarkets provides Trade Interceptor, UFX provides ParagonEx
  • ThinkMarkets additionally provides spread betting with tight spreads
  • UFX offers fixed spread for CFD trading, which can be lower with higher account types

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