Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare City Index vs ThinkMarkets.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. City Index received a rating of 4.5 stars over ThinkMarkets's 3.5 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both City Index and ThinkMarkets are regulated in a major hub. City Index is a publicly traded company, ThinkMarkets isn't. How many currency pairs are available to trade? City Index boasts an offering of 84 different currency pairs compared to ThinkMarkets's 40 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. City Index alongside ThinkMarkets offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. ThinkMarkets offers its clients access to 31 charting tools while City Index has 25 charting tools, a difference of 6. City Index boasts an offering of 139 different indicators (for example, moving averages) compared to ThinkMarkets's 51 available indicators.
Overall, City Index comes out on top with 4 stars over ThinkMarkets's 3.5 stars. And, when it comes to individual category awards, unfortunately, neither City Index nor ThinkMarkets received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.