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ThinkMarkets vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is ThinkMarkets better than FXOpen? In our analysis of 23 international regulators across 62 of the best forex brokers, ThinkMarkets is considered average-risk, with an overall Trust Score of 86 out of 99. FXOpen is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Overall RatingThinkMarketsFXOpen
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score 86 80
Winner check_circle
Review
RegulationThinkMarketsFXOpen
Trust Score 86 80
Year Founded 2010 2003
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 2 2
Tier-2 Licenses 2 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)ThinkMarketsFXOpen
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)ThinkMarketsFXOpen
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) Yes No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)ThinkMarketsFXOpen
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsThinkMarketsFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 1674 87
Forex Pairs (Total) 46 25
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CostThinkMarketsFXOpen
Average Spread EUR/USD - Standard N/A info N/A info
All-in Cost EUR/USD - Active N/A info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingThinkMarketsFXOpen
Minimum Deposit $250.00 $100
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsThinkMarketsFXOpen
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
cTrader No No
DupliTrade No No
ZuluTrade Yes Yes
Trading ToolsThinkMarketsFXOpen
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 15 7
Charting - Indicators / Studies (Total) 30 30
Charting - Drawing Tools (Total) 15 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingThinkMarketsFXOpen
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing No No
Mobile Charting - Indicators / Studies 30 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No No
Forex Calendar Yes Yes
ResearchThinkMarketsFXOpen
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No No
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs No No
Economic Calendar Yes Yes
EducationThinkMarketsFXOpen
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos No No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsThinkMarketsFXOpen
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review
OverallThinkMarketsFXOpen
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score 86 80
Winner check_circle
Review
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ThinkMarkets vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare ThinkMarkets vs FXOpen.

Does ThinkMarkets or FXOpen offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, FXOpen offers better pricing overall for traders.

Is ThinkMarkets or FXOpen safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both ThinkMarkets and FXOpen hold 2 global Tier-1 licenses. ThinkMarkets holds 2 global Tier-2 licenses, while FXOpen holds 1. In our analysis of 23 international regulators across 50 brokers, ThinkMarkets earned a higher Trust Score than FXOpen.

Which trading platform is better: ThinkMarkets or FXOpen?

To compare the trading platforms of both ThinkMarkets and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, ThinkMarkets offers a better experience. With research, ThinkMarkets offers superior market research. Finally, we found ThinkMarkets to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both ThinkMarkets and FXOpen offer MetaTrader 4 (MT4).ThinkMarkets and FXOpen both offer copy trading.

How many forex pairs and CFDs are available to trade?

ThinkMarkets provides traders 46 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, ThinkMarkets offers traders access to 1674 CFDs while FXOpen has 87 available CFDs, a difference of 1587.

Can I trust ThinkMarkets?

ThinkMarkets is not publicly traded and does not operate a bank. ThinkMarkets is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). ThinkMarkets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), and the Financial Conduct Authority (FCA).

Can I trust FXOpen?

FXOpen is not a publicly traded company, doesn't operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FXOpen is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

Is ThinkMarkets good?

ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.

Is FXOpen good?

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

Overall winner: ThinkMarkets

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