Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Established in 2010, ThinkMarkets has positioned itself as a highly trusted online trading platform with a strong foundation in regulation. With a Trust Score of 92 out of 99, ThinkMarkets holds five Tier-1 licenses, indicating a high level of credibility. Additionally, they have secured two Tier-2 licenses, further enhancing their trustworthiness. Although not publicly traded or a bank, ThinkMarkets' regulatory strength offers clients a considerable degree of confidence.
FXOpen, founded in 2003, offers traders a platform with an average risk Trust Score of 76. While it holds two Tier-1 licenses, it lacks Tier-2 licenses, which could be an important factor for potential traders to consider. Like ThinkMarkets, FXOpen is neither publicly traded nor a banking institution. These distinctions in regulatory licenses highlight key differences in the trust levels between the two brokers, with ThinkMarkets providing a more secure environment through its broader regulatory coverage.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing ThinkMarkets and FXOpen on commissions and fees, both brokers receive a commendable rating of four out of five stars. The assessment of fees considers various charges associated with trading, though specific average spread data for these brokers is not available. Despite the comparable star ratings, there is a slight difference in their rankings within the industry. ThinkMarkets is positioned at number 48, while FXOpen ranks slightly higher at number 45 out of 63 brokers, according to ForexBrokers.com's ranking for the Commissions and Fees category.
Both ThinkMarkets and FXOpen are known for their competitive pricing structures aimed at benefiting traders, yet nuances in their fee models might appeal differently to individual clients. Prospective traders should review any platform-specific charges or potential hidden fees that could influence their final costs. Given the close star ratings and rankings, either broker could be a viable choice for traders prioritizing cost efficiency.
In making a choice between ThinkMarkets and FXOpen, traders should also consider other factors such as trading platforms, available tools, and customer service. However, with a shared goal of fair pricing, both brokers stand out as worthy contenders for anyone focused on minimizing trading costs without compromising on quality service.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing ThinkMarkets to FXOpen for their range of investments, ThinkMarkets clearly stands out with 4000 tradeable symbols, significantly more than FXOpen’s 87 symbols. Investors looking to dive into forex trading will also find a better selection at ThinkMarkets, which offers 46 tradeable forex pairs, compared to FXOpen’s 25 pairs. Both brokers provide the option for forex trading as either a CFD or spot contract. However, only ThinkMarkets provides access to international exchange traded securities, allowing clients the opportunity to invest in companies like Vodafone on the London Stock Exchange.
Neither ThinkMarkets nor FXOpen facilitates trading actual, delivered cryptocurrencies, though they both offer cryptocurrency derivatives. For those interested in copy trading, both platforms offer this feature. Overall, ThinkMarkets excels in the range of investments with a 4.5-star rating and a ranking of #22 out of 63 brokers by ForexBrokers.com, while FXOpen holds a 3-star rating and ranks #62. This analysis indicates that ThinkMarkets might be a more appealing choice for investors seeking diverse investment opportunities.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 87 |
| Forex Pairs (Total) | 46 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing ThinkMarkets and FXOpen for their trading platforms and tools, both brokers offer a range of features to assist traders in navigating the financial markets. They grant access to MetaTrader 4 and MetaTrader 5, popular trading platforms known for their comprehensive charting capabilities. Both ThinkMarkets and FXOpen provide access to simulated trading with a free virtual demo account. They also offer options for web-based platforms and Windows desktop downloads, allowing for flexible trading environments. Additionally, each broker supports copy trading, providing opportunities for traders to mirror others' strategies. While ThinkMarkets offers its proprietary platform developed in-house, FXOpen does not. Furthermore, FXOpen provides access to ZuluTrade, enhancing social trade capabilities, while ThinkMarkets does not offer this specific feature.
Regarding charting tools, both brokers provide 15 drawing tools. However, ThinkMarkets offers a more customizable experience with 15 columns available for watchlists compared to FXOpen's 7 columns. Traders can execute trades directly from stock charts with both brokers. Despite both brokers offering a similar range of features, ThinkMarkets scores a slightly higher ranking at 28th place compared to FXOpen's 53rd when evaluated by ForexBrokers.com for trading platforms and tools. Both brokers receive a commendable rating of 4 stars in this category, highlighting their competence in catering to traders' needs through accessible and versatile trading environments.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both ThinkMarkets and FXOpen provide solid options for traders on the go. They each offer apps for iPhone and Android, complete with real-time price alerts and the ability to draw trendlines on charts. Both platforms support viewing different timeframes, such as daily, weekly, or intraday options. However, ThinkMarkets stands out with a more comprehensive suite of 94 technical studies available for charting, compared to 30 offered by FXOpen. Furthermore, ThinkMarkets has the advantage of auto-saving drawings on charts, a feature that FXOpen lacks.
Although neither app syncs watchlist symbols between mobile and online accounts, users can still create real-time quote watchlists on both platforms. Despite having similar star ratings of 4 out of 5 for their mobile apps, ThinkMarkets has a higher ranking, positioned at #20 compared to FXOpen's #54 in the Mobile Trading Apps category according to ForexBrokers.com. This may suggest ThinkMarkets provides a more feature-rich and trader-friendly mobile experience.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both ThinkMarkets and FXOpen provide daily market commentary and forex news from top sources like Bloomberg and Reuters. This ensures traders can stay well-informed with up-to-date market insights. However, neither broker offers technical analysis tools from Autochartist or Trading Central, which might be a consideration for those relying heavily on advanced analytics.
ThinkMarkets distinguishes itself by offering a sentiment-based trading tool that reveals long and short position ratios, as well as research tools from Acuity Trading, all of which are absent from FXOpen's offerings. Both brokers feature economic calendars to track global news events. In terms of ratings, ThinkMarkets scores 3.5 stars for research, ranking #50 out of 63 brokers. In contrast, FXOpen receives a lower 3-star rating and ranks #63, suggesting that ThinkMarkets may offer a more enriched research experience.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, ThinkMarkets clearly takes the lead over FXOpen. ThinkMarkets offers a comprehensive education suite with more than 10 pieces of educational content focused on forex and CFDs, including articles, videos, and archived webinars. In addition, they provide live online webinars every month, which are designed to cater to both beginners and advanced traders. ThinkMarkets also maintains a searchable archive of past webinars for those who want to revisit or catch up on missed sessions. Their selection of beginner educational videos, unmatched by FXOpen, ensures new traders have access to ample learning material. For experienced traders, ThinkMarkets adds even more value with advanced educational videos.
While both brokers offer an investor dictionary featuring over 50 investing terms, ThinkMarkets earns a higher rating for its educational offerings, receiving 3.5 stars compared to FXOpen's 3 stars. Ranked #52 out of 63 brokers by ForexBrokers.com for education, ThinkMarkets' offerings outshine FXOpen, which holds a lower rank of #58. Overall, beginners looking for a more enriching learning experience might find ThinkMarkets a more fitting choice for expanding their trading knowledge and skills.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| 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 | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than FXOpen. ThinkMarkets finished with an overall rank of #27, while FXOpen finished with an overall rank of #54.
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.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 76 |
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While both ThinkMarkets and FXOpen do not offer the purchase of actual (delivered) cryptocurrency, they both provide the ability to trade cryptocurrency derivatives.
Both ThinkMarkets and FXOpen do not support ACH or SEPA transfers or PayPal for deposits or withdrawals, but they do offer Skrill, Visa or Mastercard, and bank wire transfer options for managing account funds.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | ThinkMarkets | FXOpen | |
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| Trust Score | 92 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | FXOpen | |
|---|---|---|---|
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| Regulation | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Trust Score | 92 | 76 | |
| Year Founded | 2010 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 87 | |
| Forex Pairs (Total) | 46 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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). |
| Cost | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | No | Yes |
| Trading Tools | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 Trading | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | 94 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | ThinkMarkets | FXOpen | |
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| Trust Score | 92 | 76 | |
| Winner | check_circle | ||
| Review |
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