FOREX.com vs ThinkMarkets - Online Brokerage Comparison

FOREX.com vs ThinkMarkets Comparison

FOREX.com vs ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
NoneMT4, Trade Interceptor200+FCA, ASIC

FOREX.com and ThinkMarkets Comparison

ThinkMarkets has two types of accounts, namely its Standard account type, which is based on Trade Interceptor and MT4 and can offer tight variable spreads and its ThinkZero account, which is based on MT4 and can offer low variable spreads, with a commission charge. Additionally, in the UK, ThinkMarkets offers a spread betting account on MT4. FOREX.com offers Forex and CFD trading on three platforms. Both brokers support automated trading on MT4 (including the use of EAs), but ThinkMarkets is a no dealing desk intervention broker.

Both can offer a range of Cryptocurrency CFDs, where the trader does not own the cryptocurrency, rather speculates on the price movement of the cryptocurrency (thus does not need a wallet to store it).

Both brokers are regulated by the FCA in the United Kingdom and the ASIC in Australia. FOREX.com is also regulated by the CFTC in the United States, the IIROC in Canada, the SFC in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan.

Quick summary

FOREX.com offers a range of platforms with CFD trading including MT4. ThinkMarkets offers CFD trading or spread betting on MT4 and CFD trading on Trade Interceptor. Both provide platforms for discretionary and automated trading.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. There is no minimum deposit for ThinkMarkets's Standard account but the minimum deposit for its ThinkZero account is $/£500.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • 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.

Free VPS offer

Both brokers have a free Virtual Private Server (VPS) offer, T&Cs apply. A VPS allows the trader to run automated trading strategies when they are disconnected from the broker. If the trader does not meet these requirements they can rent hosting.

  • FOREX.com offers a VPS to trader who maintains a minimum monthly balance of $5000 and executes a minimum of 10 round trip mini lots per month.
  • ThinkMarkets offers a free VPS to traders who deposit a minimum of $2000 and then maintains minimum balance and trading requirements.

Markets

  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Metals and Soft Commodities, with 110+ available.
  • ThinkMarkets provides Forex, Indices, Energy, Metals, Cryptocurrencies and Stocks, with 200+ on offer.

Cryptocurrency CFDs

  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
  • ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, Bitcoin Gold, Monero, ETP, Iota, NEO, OmiseGO, and Zcash.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • 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.

The maximum leverage for FOREX.com (FCA regulated) is . Maximum leverage at ThinkMarkets (FCA regulated) is .

Platforms

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. ThinkMarkets offers Trade Interceptor, MT4 and apps.

Why FOREX.com or ThinkMarkets ?

Both are Forex brokers with a range of other CFD markets, with a similar number available. Each has MT4 and allows trading with automated trading strategies. ThinMarkets is a no dealing desk broker which uses Equinix infrastructure. Each provides an accessible web trader, though FOREX.com also has a downloadable Advanced Platform.

Comparison summary

  • FOREX.com offers CFD trading
  • ThinkMarkets offers spread betting and CFD trading
  • Both provide MT4
  • ThinkMarkets offers spread betting or CFD trading on MT4
  • ThinkMarkets has Trade Interceptor for CFD trading
  • ThinkMarkets's ThinkZero account uses MT4
  • FOREX.com has its Advanced Platform and a web trader
  • Both broker offer a range of Cryptocurrency CFDs
  • ThinkMarkets also has Cryptocurrency spread betting
  • For discretionary trading FOREX.com offers its Advanced Platform and a web trader
  • For discretionary trading, ThinkMarkets offers Trade Interceptor
  • For automated (and discretionary) trading both provide MT4
  • Both are FCA and ASIC regulated

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