To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare eToro vs ThinkMarkets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. ThinkMarkets received a rating of 4.00 stars over eToro's 3.50 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both eToro and ThinkMarkets are regulated in a major hub. Neither eToro and ThinkMarkets are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. eToro offers its clients access to 47 different currency pairs while ThinkMarkets has 33 available pairs, a difference of 14.
To round out our comparison of eToro vs ThinkMarkets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. ThinkMarkets has Meta Trader, eToro doesn't. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. ThinkMarkets offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. ThinkMarkets trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and ThinkMarkets offering 51.
Overall, both eToro and ThinkMarkets share a rating of 4.00 stars. And, when it comes to individual category awards, eToro posted awards Best in Class - Customer Service in 2018, while ThinkMarkets found itself with none of these.