Written by ForexBrokers.com
In this head to head comparison of FXCM vs ThinkMarkets, 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.
FXCM and ThinkMarkets are both reputable online brokers recognized for their trustworthy services, each with unique strengths in regulatory compliance. FXCM has been in the trading business since 1999 and is publicly traded, which can be an appealing factor for potential clients. The broker prides itself on a ForexBrokers.com Trust Score of 95 out of 99, indicating a high level of reliability. FXCM operates under the regulations of 4 Tier-1 licenses and 2 Tier-2 licenses, ensuring stringent oversight and client protection.
ThinkMarkets, founded in 2010, is not publicly traded but still maintains a strong presence in the market. It holds a Trust Score of 92, suggesting a solid trust level with its clientele. The broker is under the regulations of 5 Tier-1 licenses and 2 Tier-2 licenses, offering a secure trading environment. Both FXCM and ThinkMarkets are not banks, which means they focus solely on providing brokerage services. Clients seeking a trusted and regulated broker have commendable choices in either FXCM or ThinkMarkets, depending on their specific preferences or needs.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing FXCM and ThinkMarkets, both brokers receive a strong four-star rating for their commissions and fees. However, they differ slightly in their rankings among 63 brokers, with FXCM at #24 and ThinkMarkets at #48, according to ForexBrokers.com. FXCM's forex trading pricing is slightly above the industry average, with standard account spreads in May 2024 averaging 0.78 pips on the EUR/USD for its EU, U.K., and Australia offices, and 1.38 pips for its St. Vincent and the Grenadines entity. For commission-based accounts, spreads average 0.28 pips, with commissions bringing the effective spread to approximately 0.74 pips per trade.
FXCM offers an Active Trader Rebate Program with five tiers, allowing traders to earn rebates ranging from $5 to $25 per million traded, depending on their tier and monthly trading volume. Notable discounts are available for large trades, but it's essential to note that these rebates aren't available for traders in the U.K. or EU. While FXCM’s commission-based pricing has low base spreads, the overall cost can end up higher after commissions, making alternatives like Tickmill and FP Markets more competitive for high-volume traders.
While detailed spread data for ThinkMarkets isn't available, it's rated equally to FXCM with four stars for commissions and fees. The distinction in rankings illustrates FXCM’s slightly better pricing structure for frequent traders, mainly due to its active trader program. Traders looking for competitive pricing might find deeper discounts with FXCM, especially if trading in large volumes.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $50 |
| Average Spread EUR/USD - Standard | 0.78 | 1.1 |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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 FXCM and ThinkMarkets, both online brokers provide options for forex trading through CFDs or spot contracts, making them appealing choices for currency traders. However, ThinkMarkets stands out with an impressive 4,000 tradeable symbols compared to FXCM's 440. Additionally, ThinkMarkets offers a slightly wider array of forex pairs, providing access to 46 pairs over FXCM's 43. Both brokers allow for copy trading and permit the purchase of cryptocurrency derivatives, but neither offers the option to buy actual cryptocurrencies.
In terms of trading international exchange securities, ThinkMarkets has the upper hand, offering the ability to invest in global stocks like Vodafone, whereas FXCM does not provide this option. Consequently, ThinkMarkets enjoys a higher rating of 4.5 stars for its range of investments, compared to FXCM's 3.5 stars. Reflecting this distinction, ForexBrokers.com ranks ThinkMarkets at #22 out of 63 brokers for investment variety, while FXCM is positioned at #47. This distinction highlights ThinkMarkets as a more versatile option for investors seeking a broader range of investment opportunities.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 4000 |
| Forex Pairs (Total) | 43 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| 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). | 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.
FXCM and ThinkMarkets both provide traders with comprehensive trading platforms and tools, but there are key differences to consider. Both brokers offer simulated trading with free virtual demo accounts, proprietary platforms, and Windows-based downloadable desktop platforms. They also provide web-based trading and copy trading options. FXCM and ThinkMarkets both support MetaTrader 4 (MT4), but only ThinkMarkets extends its offering with MetaTrader 5 (MT5). In addition, FXCM includes support for ZuluTrade, giving users another avenue for automated trading, whereas ThinkMarkets does not offer this service. While neither broker currently supports DupliTrade, FXCM stands out with its high 5-star rating for trading platforms and tools, as assessed by ForexBrokers.com, coming in at rank 6 out of 63 brokers, compared to ThinkMarkets, which holds a 4-star rating at rank 28.
When it comes to charting tools and customization options, FXCM and ThinkMarkets provide users with the ability to trade directly from stock charts. FXCM offers 10 drawing tools, while ThinkMarkets provides 15, offering slightly more flexibility for visual analysis. Additionally, FXCM allows users to work with 13 columns in their watch lists, while ThinkMarkets provides a tad more with 15 columns. Overall, while both brokers deliver a strong suite of trading platforms and tools, FXCM's higher ratings and additional features like ZuluTrade make it a compelling choice for those seeking a highly rated and versatile trading experience.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and ThinkMarkets both offer robust mobile trading solutions on iPhone and Android devices, catering to users who desire on-the-go trading capabilities. Both brokers provide essential features such as push notifications for stock and forex price alerts, real-time quotes for watchlists, and the ability to draw trendlines on charts. These functionalities ensure traders can manage and monitor their investments effectively from anywhere. However, FXCM gives users a slight edge with its ability to sync watchlist symbols across different devices, unlike ThinkMarkets where this feature is absent.
When it comes to technical analysis tools, ThinkMarkets takes the lead, offering 94 technical studies within its mobile app compared to FXCM's 59 studies. Both brokers allow users to view multiple time frames on charts and automatically save drawings, supporting diverse trading strategies. In terms of user ratings and industry rankings, FXCM holds a better position with a 4.5-star rating and a #16 ranking, while ThinkMarkets has a 4-star rating and ranks #20. These differences may influence the decision-making process of traders looking for a comprehensive mobile trading experience.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 94 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and ThinkMarkets both excel in offering valuable market insights with daily market commentaries and forex news from prestigious sources like Bloomberg, Reuters, and Dow Jones. However, when diving deeper into specialized tools, FXCM appears to take the lead with its offerings from Trading Central and access to TipRanks for enhanced market research. In contrast, ThinkMarkets provides tools from Acuity Trading, such as Signal Centre, which may appeal to traders seeking alternative insights.
Both brokers also feature economic calendars to stay on top of global news events, yet FXCM holds a slight edge in overall research capabilities. Rated at 4.5 stars compared to ThinkMarkets' 3.5, FXCM is ranked 11th out of 63 brokers by ForexBrokers.com, while ThinkMarkets stands at 50th. This difference highlights FXCM's broader array of resources, particularly for traders interested in comprehensive technical analysis paired with sentiment-based trading tools.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FXCM and ThinkMarkets offer extensive materials to help new traders get started. Each platform provides a wealth of forex and CFDs information with over ten educational pieces, including articles, videos, and archived webinars, focusing on these subjects. To engage users further, both brokers hold monthly online webinars aimed at teaching clients more about trading. Additionally, their vast archives ensure that traders can revisit these sessions at their convenience. Beginners can also take advantage of more than ten dedicated videos specifically made to cover trading basics, ensuring a solid start in the world of trading.
However, FXCM appears to have an edge in certain educational aspects. In addition to offering both beginner and advanced educational videos, FXCM also provides an investor dictionary with over 50 investing term definitions. While ThinkMarkets matches this offering, FXCM receives a higher educational rating with 4.5 stars compared to ThinkMarkets' 3.5 stars. Notably, FXCM is ranked #14 out of 63 brokers by ForexBrokers.com in the Education category, significantly ahead of ThinkMarkets, which holds the #52 spot. This suggests that while both brokers offer substantial educational resources, FXCM is considered more effective in equipping beginners with knowledge and tools for trading.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FXCM is better than ThinkMarkets. FXCM finished with an overall rank of #15, while ThinkMarkets finished with an overall rank of #27.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 92 |
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Both FXCM and ThinkMarkets provide the ability to trade cryptocurrency derivatives but do not offer options for purchasing actual delivered cryptocurrency.
When comparing online brokers FXCM and ThinkMarkets, FXCM provides more flexibility in fund transactions with options for ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas ThinkMarkets supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal facilities.
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 | FXCM | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | ThinkMarkets | |
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| Regulation | FXCM | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 95 | 92 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | FXCM | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| 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) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 4000 | |
| Forex Pairs (Total) | 43 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| 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). | 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 | FXCM | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 15 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | ThinkMarkets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 94 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | ThinkMarkets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | ThinkMarkets | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | FXCM | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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