Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets and ThinkMarkets are both well-established online brokers, with IC Markets being founded in 2007 and ThinkMarkets in 2010. Neither company is publicly traded nor operates as a bank. When it comes to regulatory compliance, IC Markets holds two Tier-1 licenses, reflecting a strong level of trust, while ThinkMarkets excels with five Tier-1 licenses, denoting a high level of reliability. Additionally, ThinkMarkets holds two Tier-2 licenses, further solidifying its trusted status among online brokers.
In terms of overall trustworthiness as evaluated by ForexBrokers.com, IC Markets has a Trust Score of 84, indicating a trusted status, while ThinkMarkets surpasses with a higher Trust Score of 92, qualifying it as highly trusted. These trust scores demonstrate the confidence users can have while engaging with these platforms for their trading needs. Overall, ThinkMarkets stands out as a more trusted option based on regulatory credentials and trust scores.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 5 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 3 |
When evaluating the commissions and fees of online brokers, IC Markets stands out due to its competitive trading costs and range of account options. Known for its low-cost forex trading, IC Markets offers three account types, including the Standard account, which is commission-free and spread-based, and the Raw Spread and cTrader Raw Spread accounts, which are commission-based. The cTrader account charges $3.0 per side for each 100,000 units, while the MetaTrader Raw Spread account charges $3.5 per side, resulting in an all-in cost of 0.62 pips and 0.72 pips, respectively. IC Markets earned a 5-star rating for commissions and fees, ranking it 5th out of 62 brokers by ForexBrokers.com.
In comparison, ThinkMarkets presents fewer details about its average spreads, focusing instead on its overall 4-star rating for commissions and fees. While ThinkMarkets doesn't offer the same level of detailed pricing information as IC Markets, it still provides reliable services for traders with varying budget constraints. Within the ForexBrokers.com Commissions and Fees category, ThinkMarkets is ranked 48th among 62 brokers, suggesting a greater cost to traders compared to higher-ranked brokers like IC Markets.
For traders prioritizing low trading costs, IC Markets offers an attractive option with its competitive spreads and fees structure, particularly for high-volume traders who can take advantage of its discounts. Meanwhile, ThinkMarkets might appeal to those who prefer a simpler fee structure without the detailed comparison of spreads and commissions provided by IC Markets. Overall, IC Markets excels in delivering cost-effective trading solutions across different account platforms, positioning it as a top choice in the industry for fee-conscious traders.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Average Spread EUR/USD - Standard | 0.62 | 1.1 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | 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.
IC Markets and ThinkMarkets are both strong contenders when it comes to providing a wide variety of trading options. Each broker supports forex trading through CFDs or spot contracts, addressing the needs of both novice and seasoned traders. IC Markets provides an impressive lineup with 3,583 tradeable symbols and offers 61 forex pairs, making it a great choice for forex enthusiasts. On the other hand, ThinkMarkets surpasses IC Markets in terms of total tradeable symbols with a total of 4,000, although they offer slightly fewer forex pairs at 46. Both brokers allow access to international exchange-traded securities, letting traders invest in companies like Vodafone, yet neither offers exchange-traded securities on U.S. exchanges.
When it comes to niche offerings, both IC Markets and ThinkMarkets deliver by supporting copy trading for those who prefer to follow the footsteps of successful traders. Cryptocurrency options are available as derivatives with both brokers, while neither offers the purchase of actual cryptocurrencies. Each broker has received a commendable rating of 4.5 stars for their range of investments. However, ThinkMarkets edges out IC Markets slightly in ForexBrokers.com's ranking for investment range, coming in at #21, compared to IC Markets, which stands at #25.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 4000 |
| Forex Pairs (Total) | 61 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
Both IC Markets and ThinkMarkets provide a welcoming entry point for traders seeking simulated trading experiences, as each offers a free virtual demo account. While IC Markets relies on third-party platforms, ThinkMarkets boasts a proprietary platform, providing a unique trading experience. Both brokers cater to Windows-based desktop users and offer web-based platforms, ensuring flexible access for traders. They also support popular platforms like MetaTrader 4 and MetaTrader 5, and provide access to copy trading, although only IC Markets includes ZuluTrade among its offerings.
Charting capabilities for both brokers are comparable, featuring 15 drawing tools each. Traders at both firms can benefit from the convenience of trading directly from a stock chart. However, when it comes to watch list functionality, ThinkMarkets surpasses IC Markets with 15 columns as opposed to IC Markets' seven. Despite these distinctions, both IC Markets and ThinkMarkets receive a solid four-star rating for trading platforms and tools. With IC Markets ranking 16th and ThinkMarkets 28th out of 62 brokers, traders can expect quality service and features from both platforms.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and ThinkMarkets both offer their trading apps on iPhone and Android, ensuring accessibility for users across these popular platforms. For traders who rely on timely updates, both apps provide stock and forex price alerts, enhancing the trading experience by keeping you informed about market movements. However, watchlist symbol syncing is not available in either app, which means any changes made to watchlists on mobile don't update automatically with those on your online account. While these platforms share many of the same core functionalities, ThinkMarkets stands out by offering 94 technical studies for charting, significantly more than the 30 available with IC Markets.
Both apps allow users to draw trendlines and view multiple time frames on charts, which can be a helpful feature for technical analysis. Additionally, any drawings you create on these charts will be auto-saved, so you won't have to worry about losing your work. You can also create a watchlist with real-time quotes in each app, allowing for efficient tracking of your favorite stocks or forex pairs. Rated four stars for their mobile trading apps, IC Markets and ThinkMarkets have secured respectable positions in ForexBrokers.com's ranking, with ThinkMarkets slightly ahead at #20, compared to IC Markets at #22, out of 62 brokers reviewed.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
When it comes to market research, both IC Markets and ThinkMarkets provide impressive offerings, but there are key differences that may influence your choice. Both brokers deliver daily market commentary and offer forex news from top-tier sources like Bloomberg and Reuters. However, IC Markets stands out by incorporating advanced tools such as Autochartist and Trading Central, offering clients comprehensive technical analysis and research capabilities. ThinkMarkets, on the other hand, concentrates on unique offerings like Acuity Trading's research tools, expanding their services through options like Signal Centre.
In terms of additional features, both IC Markets and ThinkMarkets include sentiment-based trading tools and maintain detailed economic calendars to keep traders informed about global news events. Despite these similarities, IC Markets edges ahead with a higher research rating of 4 stars compared to ThinkMarkets' 3.5 stars. This distinction is further highlighted by their positions in ForexBrokers.com's research ranking, where IC Markets holds the 23rd spot, significantly ahead of ThinkMarkets at 50th. For traders seeking a blend of detailed analysis and top-tier tools, IC Markets presents a slightly more favorable option.
| Feature |
IC Markets
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | 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 IC Markets and ThinkMarkets offer a wide range of materials to help new traders get started with forex and CFDs. Each platform provides more than 10 educational pieces, including articles, videos, and archived webinars, ensuring a broad selection of learning tools for their users. Both brokers also host regular online client webinars and maintain searchable archives of previously recorded sessions, allowing beginners to learn at their convenience. Furthermore, each offers a solid collection of beginner and advanced educational videos, making complex trading topics accessible and understandable for all levels of experience. An investor dictionary with definitions of over 50 investing terms is another shared feature, supporting traders in having a well-rounded understanding of market language.
Despite these similarities, IC Markets outshines ThinkMarkets in both user ratings and rankings. IC Markets is rated 4 stars out of 5 for its educational offerings, whereas ThinkMarkets holds a slightly lower rating of 3.5 stars. Additionally, IC Markets is positioned at #16 in the Education category by ForexBrokers.com, a substantial lead over ThinkMarkets' rank of #52 among 62 brokers. This suggests that while both platforms are committed to educating their clients, IC Markets tends to provide more comprehensive resources and support for those eager to learn.
| Feature |
IC Markets
|
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 62 of the best forex brokers, our research and account testing finds that IC Markets is better than ThinkMarkets. IC Markets finished with an overall rank of #20, while ThinkMarkets finished with an overall rank of #27.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 92 |
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While both IC Markets and ThinkMarkets do not provide the option to purchase actual delivered cryptocurrency, they each offer the ability to buy cryptocurrency derivatives, catering to traders interested in the speculative aspects of digital assets without owning the actual cryptocurrency.
IC Markets and ThinkMarkets both permit the use of Skrill, Visa, Mastercard, and bank wires for deposits and withdrawals, while only IC Markets supports PayPal, and neither offer ACH or SEPA transfer options.
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 | IC Markets | ThinkMarkets | |
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| Trust Score | 84 | 92 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | ThinkMarkets | |
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| Regulation | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 84 | 92 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 5 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 3 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | 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) | No | 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) | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 4000 | |
| Forex Pairs (Total) | 61 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 15 | |
| 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 | IC Markets | ThinkMarkets | |
|---|---|---|---|
| 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 | 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 | IC Markets | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review |
| Overall | IC Markets | ThinkMarkets | |
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| Trust Score | 84 | 92 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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