Dive into our detailed comparison of Forex brokers FOREX.com and ThinkMarkets. Our analysis is based on the broker’s features and our own testing, will help you make an informed decision when choosing a broker.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
FOREX.com and ThinkMarkets are both reputable forex brokers, but they differ in several key areas. FOREX.com offers a wider range of trading instruments, while ThinkMarkets is known for its competitive spreads and innovative trading platforms. Each broker has its own strengths and weaknesses, and the best choice depends on your individual trading needs and goals. Here are some key differences:
When it comes to trading costs, both FOREX.com and ThinkMarkets offer competitive pricing. However, there are some differences to note. Let’s delve into the low commission forex brokers to see how these two stack up.
FOREX.com offers competitive spreads on its standard account, while ThinkMarkets offers even tighter spreads, especially on major currency pairs. This is particularly important for traders who are looking for lowest fixed spread forex brokers.
When we look at the average standard account spreads for FOREX.com and ThinkMarkets, it’s clear that there are some differences between the two. FOREX.com tends to have higher spreads across most forex pairs, with the exception of EUR/USD where it’s slightly lower than ThinkMarkets. For instance, the spread for USD/CAD at FOREX.com is significantly higher at 2.6 compared to ThinkMarkets’ 1.2.
| Forex Pair | FOREX.com | ThinkMarkets | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.1 | 1.35 |
| USD/JPY | 1.5 | 1.4 | 1.54 |
| GBP/USD | 1.6 | 1.3 | 1.68 |
| AUD/USD | 1.4 | 1.1 | 1.63 |
| USD/CAD | 2.6 | 1.2 | 1.93 |
| EUR/GBP | 1.5 | 1.1 | 1.69 |
| EUR/JPY | 2.8 | 1.2 | 2.04 |
| AUD/JPY | 2.3 | 1.2 | 2.31 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
However, ThinkMarkets consistently offers lower spreads across the board, making it a more cost-effective choice for traders who deal with a variety of forex pairs. For example, the spread for AUD/USD is only 1.1 at ThinkMarkets, compared to 1.4 at FOREX.com.
When we compare these brokers to the industry average, we see that ThinkMarkets often comes out ahead, offering lower spreads for most forex pairs. FOREX.com, on the other hand, tends to hover around or above the industry average. Therefore, based on this data, I would argue that ThinkMarkets offers a more cost-effective trading environment when it comes to standard account spreads.
For traders who prefer raw spreads, ThinkMarkets offers a ThinkZero account with spreads starting from 0 pips. FOREX.com, on the other hand, offers a Direct Market Access account with competitive spreads. These forex brokers with zero pip accounts can offer significant advantages for certain trading strategies.
Both brokers charge commission on certain account types. FOREX.com’s commission rates are competitive, but ThinkMarkets offers lower commission rates on its ThinkZero account.
Neither FOREX.com nor ThinkMarkets charge any deposit or withdrawal fees, which is a plus for both brokers.
FOREX.com charges an inactivity fee, while ThinkMarkets does not. However, ThinkMarkets charges a fee for overnight financing.
Verdict: When it comes to trading costs, ThinkMarkets has a slight edge due to its lower spreads and commission rates.
| Criteria | FOREX.com | ThinkMarkets |
|---|---|---|
| Standard Account Spreads | Competitive | More Competitive |
| RAW Account Spreads | Competitive | More Competitive |
| Commission Rates | Competitive | Lower |
| Deposit & Withdrawal Fees | No | No |
| Other Fees | Yes (Inactivity Fee) | Yes (Overnight Financing) |
Trust and regulation are crucial factors to consider when choosing a forex broker. Both FOREX.com and ThinkMarketsare regulated by multiple top-tier authorities.
FOREX.com is regulated by ASIC, FCA, CySEC, BaFin, FINMA, CFTC, and NFA among others. On the other hand, ThinkMarkets is regulated by ASIC, FCA, and FSCA. It’s important to choose ASIC regulated brokers or those regulated by other top-tier authorities for the best protection.
Verdict: Both brokers are highly regulated, but FOREX.com has a slight edge due to its regulation by a larger number of top-tier authorities.
| Broker | Regulators |
|---|---|
| FOREX.com | ASIC, FCA, CySEC, BaFin, FINMA, CFTC, NFA, and more |
| ThinkMarkets | ASIC, FCA, FSCA |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Trading platforms are the gateway to the forex market, and both FOREX.com and ThinkMarkets offer a range of options. Let’s compare the best cTrader forex brokers and others to see how these two stack up.
Both FOREX.com and ThinkMarkets offer MetaTrader 4 and 5, the most popular trading platforms in the forex industry. It’s always a good idea to compare MetaTrader 4 vs MetaTrader 5 to see which one suits your trading needs better.
FOREX.com does not offer cTrader or TradingView. However, ThinkMarkets offers the innovative ThinkTrader platform, which is comparable to cTrader and TradingView in terms of functionality and user experience.
| Criteria | FOREX.com | ThinkMarkets |
|---|---|---|
| MetaTrader 4 and 5 | Yes | Yes |
| cTrader and TradingView | No | Yes (ThinkTrader) |
| Social and Copy Trading | No | No |
| VPS and Other Trading Tools | Yes | Yes |
Neither FOREX.com nor ThinkMarkets offer social or copy trading features. However, there are other best forex social trading platforms available in the market.
Both brokers offer VPS services for automated trading. FOREX.com also offers a range of other trading tools, including advanced charting, trading signals, and market analysis.
Verdict: When it comes to trading platforms, ThinkMarkets has a slight edge due to its proprietary ThinkTrader platform.
Execution speed is crucial for forex trading, especially for scalpers and high-frequency traders. Both FOREX.com and ThinkMarkets offer fast execution speeds, but ThinkMarkets has a slight edge due to its superior technology and infrastructure. Let’s delve into the world of DMA forex brokers and ECN forex brokers to see how these two stack up.
Verdict: ThinkMarkets wins in terms of execution speed.
| Broker | Execution Speed |
|---|---|
| FOREX.com | Fast |
| ThinkMarkets | Faster |
FOREX.com offers a range of account types, including Standard, Commission, and Direct Market Access accounts. ThinkMarkets also offers a range of account types, including Standard and ThinkZero accounts. It’s always a good idea to compare best forex broker demo accounts to see which one suits your trading needs better.
Verdict: Both brokers offer a range of account types to suit different trading needs and styles.
| Broker | Account Types |
|---|---|
| FOREX.com | Standard, Commission, Direct Market Access |
| ThinkMarkets | Standard, ThinkZero |
Both FOREX.com and ThinkMarkets offer excellent customer service, including 24/5 live chat, phone support, and email support. However, ThinkMarkets offers a slightly higher level of service, with faster response times and more personalized support.
Verdict: ThinkMarkets wins in terms of customer service.
| Broker | Customer Service |
|---|---|
| FOREX.com | Good |
| ThinkMarkets | Better |
There are several other factors to consider when choosing a forex broker.
FOREX.com requires a minimum deposit of $100, while ThinkMarkets requires a minimum deposit of $0 for its Standard account and $500 for its ThinkZero account. These forex brokers with micro accounts can offer significant advantages for certain trading strategies.
Both brokers offer a range of payment methods, including credit/debit card, bank transfer, and e-wallets.
FOREX.com offers a wider range of trading instruments, including forex, indices, shares, commodities, and cryptocurrencies. ThinkMarkets offers a similar range of trading instruments, but with fewer options in each category.
Verdict: FOREX.com wins in terms of trading instruments.
| Criteria | FOREX.com | ThinkMarkets |
|---|---|---|
| Minimum Deposit | $100 | $0 (Standard), $500 (ThinkZero) |
| Payment Methods | Wide range | Wide range |
| Trading Instruments | Wider range | Less range |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Best For Beginner Traders
FOREX.com, with its user-friendly platform, wide range of trading instruments, and robust regulation, is the best choice for beginner traders.
Best For Experienced Traders
ThinkMarkets, with its competitive spreads, fast execution speeds, and innovative ThinkTrader platform, is the best choice for experienced traders.
| Criteria | FOREX.com | ThinkMarkets |
|---|---|---|
| Trading Costs | Competitive | More Competitive |
| Regulation | More Regulators | Less Regulators |
| Trading Platforms | Good | Better (ThinkTrader) |
| Execution Speed | Fast | Faster |
| Account Types | More Variety | Less Variety |
| Customer Service | Good | Better |
| Other Factors | More Trading Instruments | Lower Minimum Deposit |
Our Forex Broker Scores: FOREX.com – 8.5, ThinkMarkets – 9.0
FOREX.com is better for beginner traders due to its user-friendly platform and wide range of trading instruments.
ThinkMarkets is better for experienced traders due to its competitive spreads, fast execution speeds, and innovative ThinkTrader platform.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
