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 regarding commissions and fees, both brokers earn a commendable four-star rating. However, they differ significantly in their pricing structures and rankings among industry peers. FXCM stands out with an average spread of 0.78 pips for the EUR/USD across its EU, U.K., and Australia offerings, while its St. Vincent and the Grenadines entity averages 1.38 pips. On commission-based accounts, FXCM's average spread is notable at 0.28 pips, excluding commissions. For traders meeting specific volume thresholds, FXCM offers an Active Trader Rebate Program that can ease the effective spread based on the tier of discounts available, though some other brokers offer even more competitive rates.
FXCM provides a tiered rebate structure not available in the U.K. or EU, with discounts ranging from $5 to $25 per million traded, contingent on a minimum of $10 million trade volume monthly. This can lower the effective spread significantly, but not as much as some competitors like Tickmill or FP Markets. Requirements for reducing commissions vary; for instance, in the U.K., a monthly volume of $50 million can reduce commission costs significantly. With FXCM's pricing strategies, traders benefit from deeper discounts tied to their trading activity, although it's still mid-range on ForexBrokers.com's list at #25 out of 63 brokers for commissions and fees.
While ThinkMarkets also boasts a four-star rating for its fees, specific spread data isn't available to offer a deeper insight into its pricing competitiveness. Furthermore, ThinkMarkets ranks lower than FXCM, at #47, when it comes to commissions and fees. This may highlight differences in cost structures or available pricing options, such as discounts for higher trade volumes, that FXCM potentially offers more effectively. This comparison underscores FXCM's slight edge over ThinkMarkets in terms of fee transparency and discount opportunities, especially for active traders.
| 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 based on their range of investments, several key differences emerge. Both brokers offer forex trading as CFDs, with each providing a selection of 46 forex pairs, which allows traders to engage in a variety of currency exchanges. However, ThinkMarkets offers a much larger total number of tradeable symbols, boasting 4000 compared to FXCM's 440, giving traders access to a more diverse market. Neither broker allows the purchase of exchange traded securities on U.S. exchanges, but ThinkMarkets provides an advantage by offering access to international stock exchanges for shares like Vodafone, which FXCM does not.
In terms of cryptocurrency options, both brokers allow trading in cryptocurrency derivatives but do not support the purchase of actual delivered cryptocurrencies. Both also provide the option for copy trading, which can be an attractive feature for those looking to follow successful traders. User ratings indicate ThinkMarkets outperforms FXCM, scoring 4.5 stars versus 3.5 stars for the range of investments. Additionally, in rankings by ForexBrokers.com, ThinkMarkets is notable for its higher placement at #23 out of 63 brokers, compared to FXCM’s #47 ranking, highlighting ThinkMarkets as a broader platform in terms of investment options.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 4000 |
| Forex Pairs (Total) | 46 | 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) | |||
| 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) | |||
| 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) |
| Investments | FXCM | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 4000 | |
| Forex Pairs (Total) | 46 | 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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