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ThinkMarkets vs FXOpen 2019

Is FXOpen better than ThinkMarkets? After assessing forex brokers on nearly 100 different variables, ThinkMarkets is better than FXOpen. ThinkMarkets provides forex and CFDs on multiple asset classes, including cryptocurrencies, on its recently acquired Trade Interceptor platform and MetaTrader 4 (MT4) through its Australia, UK, and offshore entity in Bermuda.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature ThinkMarkets FXOpen
Overall 3.5 3
ThinkMarkets Review FXOpen Review
74-89% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature ThinkMarkets FXOpen
Trust Score 77 74
Year Founded
2010 2003
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
2 1
Tier-2 Licenses
0 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature ThinkMarkets FXOpen
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature ThinkMarkets FXOpen
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
40 95
CFDs - Total Offered
192 16
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3 3
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Cost

Feature ThinkMarkets FXOpen
Average Spread EUR/USD - Standard
N/A N/A
All-in Cost EUR/USD - Active
N/A N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 3.5 3.5
Winner check_circle

Funding

Feature ThinkMarkets FXOpen
Minimum Initial Deposit
$250.00 $100
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature 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)
No Yes
cTrader
No No

Trading Tools

Feature ThinkMarkets FXOpen
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 7
Charting - Indicators / Studies (Total)
51 51
Charting - Drawing Tools (Total)
31 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 3.5 3
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Mobile Trading

Feature ThinkMarkets FXOpen
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
No No
Charting - Indicators / Studies
30 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No No
Forex Calendar
No No
Mobile Trading 4 2.5
Winner check_circle

Research

Feature ThinkMarkets FXOpen
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes
Research 3.5 2
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Education

Feature ThinkMarkets FXOpen
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
No No
Videos - Advanced Trading Videos
No No
Investor Dictionary (Glossary)
Yes Yes
Education 3.5 2
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Major Forex Pairs

Feature 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

Overall

Feature ThinkMarkets FXOpen
ThinkMarkets Review FXOpen Review
Overall 3.5 3
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare FXOpen vs ThinkMarkets.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both FXOpen and ThinkMarkets share a rating of 3.50 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXOpen and ThinkMarkets both are regulated in a major hub. Neither are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. ThinkMarkets trails FXOpen by 55 total currency pairs (for example, EUR/USD), with FXOpen offering 95 and ThinkMarkets offering 40.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXOpen and ThinkMarkets both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXOpen and ThinkMarkets offer the same number of charting tools, 31. Both FXOpen and ThinkMarkets provide clients with access to 51 total indicators (eg, moving averages).

FXOpen Review
ThinkMarkets Review


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.



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