ThinkMarkets vs. XM Broker Comparison

ThinkMarkets vs XM Broker Comparison

ThinkMarkets versus XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, Trade Interceptor200+FCA, ASIC
$5MT4, MT51000+FCA, ASIC, CySEC

ThinkMarkets and XM Comparison

These brokers both offer MT4 CFD trading. However in the UK ThinkMarkets can also provide spread betting on MT4. XM also provides MT5 (the successor to MT4) on which it offers more markets to trade than ThinkMarkets. ThinkMarkets provides the Trade Interceptor platform in addition to MT5. This is a user friendly platform designed for traders who make their own trading decisions. MT4 and MT5, while they support automated trading strategies, can also be used by traders who make their own trading decisions. XM has a very low minimum deposit of $5, while ThinkMarkets does not have a minimum deposit requirement. Each brokers has an account which can offer low Forex spreads plus a commission charge, with a higher minimum deposit. Both brokers are regulated by the FCA in the United Kingdom and the ASIC in Australia.

Quick summary

ThinkMarkets and XM both offer MT4. ThinkMarkets also offers Trade Interceptor. XM also provides MT5, on which it can offer considerably more markets to trade.

XM Zero vs ThinkZero

Both brokers offers accounts which can provide for the most liquid Forex pairs, variable spreads from 0 plus a commission charge. The commission charge for both brokers is $3.5 per lot per side. A difference is that the minimum deposit for the XM Zero account is $100, while the minimum deposit for the ThinkZero account is $500. This kind of account can be suitable to automated trading strategies (robots) and strategies such as scalping and EAs (MT4 and MT5 robots) are allowed.

Minimum deposit and account types

There is no minimum deposit for ThinkMarkets's Standard account and a minimum deposit of $/£500 for its ThinkZero account. The minimum deposit for XM is $/£5 and the minimum deposit for its XM Zero account is $/£100. Both brokers offer Islamic accounts.

  • 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.
  • XM offers three account types, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100. An Islamic account is available for each of these account types. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions.
  • XM offers a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars. XM offers free VPS for clients who have a minimum balance of $5000 in their account, terms and conditions apply. For clients who do not meet the conditions for a free VPS, it is available for a monthly fee of $28.

Thus to get an ECN account, a higher minimum deposit is required by ThinkMarkets.

Markets

  • ThinkMarkets offers Forex, Metals, Indices, Energy, Cryptocurrencies and Shares, with 200+ available.
  • XM offers Forex, Metals, Indices, Energy and Soft Commodities on MT4, with 100+ available and 1000+ on MT5 since it also includes Stock and Cryptocurrency CFDs. The XM Zero account offers Forex pairs, Gold and Silver.

Cryptocurrency CFDs

  • ThinkMarkets provides Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, Bitcoin Gold, Monero, ETP, Iota, NEO, OmiseGO, and Zcash.
  • XM provides Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Spreads and leverage

  • 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.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.4 for Gold and 0.05 for US Crude Oil. XM also offers Futures, with UK100 spreads from 4.5.
  • For the XM Zero accounts, spreads have a low of 0 for EUR/USD. On the XM Zero account Gold has an average spread of 0.21.

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

Commissions

  • ThinkMarkets charges a commission of $3.5 per lot per side for the ThinkZero account, otherwise it does not charge commissions.
  • XM charges a commission of $3.5 per lot per side for the XM Zero account, otherwise it does not charge commissions.

Platforms

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

XM provides the MT4 and MT5 trading platforms which are available on desktop, mobile and tablet.

Both brokers offer micro lot trading on all accounts, though XM's Micro account can provide smaller trade sizes than this.

Why ThinkMarkets or XM ?

These brokers each offer MT4. In the UK, ThinkMarkets has spread betting on MT4. Both brokers provide CFD trading in the UK and elsewhere. XM's additional platform is MT5, on which it can offer more markets. ThinkMarkets provides in addition to MT4, the Trade Interceptor platform, which is a user friendly platform for traders who make their own trading decisions. Each broker provides an account who can offer low Forex spreads, plus a commission charge. With MT4 (and MT5 at XM) support for automated trading is available at these brokers.

Comparison summary

  • Both brokers offer MT4
  • Each provides CFD trading
  • ThinkMarkets also offers MT4 spread betting in the UK
  • Both support automated and non-automated trading
  • Each has micro lot trading, though XM can provide an account with lower trade sizes
  • As well as MT4, XM also provides MT5
  • ThinkMarkets also offers Trade Interceptor
  • XM has a lower minimum deposit for its XM Zero account
  • ThinkMarkets has no minimum deposit requirement for its Standard account, though XM has a low minimum deposit for its Standard and Micro accounts

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