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 comparing the commissions and fees of IC Markets and ThinkMarkets, IC Markets stands out as a top choice for traders seeking low-cost options. IC Markets offers a variety of accounts, including two commission-based options: the Raw Spread account and the cTrader Raw Spread account, alongside a commission-free Standard account. The cTrader Raw Spread account charges a lower commission of $3.0 per side for every 100,000 units traded, translating to $6.00 per round trip, whereas the MetaTrader-based Raw Spread account charges $3.5 per side, totaling $7.00 per round trip.
The effective spreads offered by IC Markets further enhance its competitiveness, with an average spread on the EUR/USD pair at just 0.62 pips for the cTrader account and 0.72 pips for the MetaTrader Raw Spread account. Moreover, its commission-free Standard account provides a budget-friendly option with an average spread of 0.62 pips. As a result, IC Markets receives a perfect 5-star rating for commissions and fees and holds the #5 position out of 63 brokers according to ForexBrokers.com.
In contrast, ThinkMarkets is rated 4 stars for its commissions and fees, ranking #47 out of 63 brokers. While specific average spread data for ThinkMarkets is unavailable, this ranking suggests that it may not be as cost-effective as IC Markets. For traders prioritizing low commissions and tight spreads, IC Markets remains a more attractive option.
| 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.
When comparing IC Markets to ThinkMarkets for their range of investments, both brokers offer expansive opportunities for traders. IC Markets provides access to 3,583 tradable symbols, including 61 forex pairs, catering to those interested in a wide span of markets. ThinkMarkets, on the other hand, offers a slightly larger selection with 4,000 tradable symbols, encompassing 46 forex pairs. Both brokers allow forex trading as CFDs, providing traders the flexibility they need in the market. While neither broker offers direct investment in U.S. exchange-traded stocks, they both facilitate trading in international equities such as Vodafone shares on the London Stock Exchange. Additionally, both platforms support copy trading, which can be appealing to those looking to replicate successful trading strategies.
For cryptocurrency enthusiasts, IC Markets and ThinkMarkets both provide access to cryptocurrency derivatives, however, they do not offer the option to purchase actual digital currencies. This could suit traders looking to speculate on crypto price movements without owning the asset. According to ForexBrokers.com, both IC Markets and ThinkMarkets score an impressive 4.5 stars for their range of investments, highlighting their competitive offerings. ThinkMarkets holds a slightly higher position in the rankings at #22 compared to IC Markets at #25, based on the variety of investment opportunities available to their clients.
| 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.
IC Markets and ThinkMarkets both provide a solid range of trading platforms and tools suitable for traders at all levels. Each broker allows users to test strategies with free virtual demo accounts. While IC Markets relies on popular third-party platforms like MetaTrader 4 and 5, ThinkMarkets enhances its offering with a proprietary trading platform, adding a unique touch to its toolkit. Both brokers cater to a wide audience with user-friendly options, supporting Windows-based desktop and web-based trading platforms. They also offer copy trading, but IC Markets provides ZuluTrade access, unlike ThinkMarkets.
Charting capabilities at these brokers are comparable, each offering 15 drawing tools and the ability to trade directly from charts. However, ThinkMarkets surpasses IC Markets with 15 watchlist columns compared to IC Markets' 7. While both brokers earn a respectable four-star rating for their platforms and tools, IC Markets holds a slightly higher industry rank, coming in at 16th place compared to ThinkMarkets’ 28th position. Whether you're focusing on extensive customization options or the added insights from multiple watchlist fields, both IC Markets and ThinkMarkets deliver a strong trading platform experience.
| 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.
Both IC Markets and ThinkMarkets provide comprehensive mobile trading apps compatible with iPhone and Android devices, ensuring traders can access the market on the go. Each app includes stock and forex price alerts, real-time watchlist creation, and the functionality to draw trendlines and view charts in various time frames, all with the added convenience of auto-saving chart drawings. However, neither platform offers the convenience of watchlist symbol syncing between mobile devices and online accounts.
In terms of charting features, ThinkMarkets has a slight edge with 94 technical studies compared to IC Markets’ 30. This makes ThinkMarkets slightly more appealing for users who rely heavily on technical analysis. Despite this, both apps receive a four-star rating for mobile trading experience. According to ForexBrokers.com, ThinkMarkets is ranked slightly higher at 20th place, compared to IC Markets' 22nd out of 63 brokers, suggesting a marginal preference among users. Overall, both platforms deliver a solid mobile trading experience, with ThinkMarkets offering more in terms of technical charting options.
| 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.
Both IC Markets and ThinkMarkets provide traders with daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, the research tools each broker offers differ significantly. IC Markets integrates renowned technical analysis tools from Autochartist and Trading Central, offering an advanced level of market analysis which ThinkMarkets lacks. On the other hand, ThinkMarkets leverages resources from Acuity Trading, which is absent in IC Markets’ offerings. Additionally, both brokers provide sentiment-based trading tools and economic calendars essential for staying updated with global market events.
When it comes to research ratings, IC Markets shines with a 4-star rating, while ThinkMarkets holds a modest 3.5 stars. This distinction is further reflected in their rankings by ForexBrokers.com, where IC Markets claims the 23rd spot out of 63 brokers, indicating a more favorable position compared to ThinkMarkets, which is ranked at 50. Traders looking for comprehensive market insights might find IC Markets to have a slight edge due to its broader selection of analysis tools and higher research rating. However, ThinkMarkets might appeal to those seeking unique resources like those provided by Acuity Trading.
| 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 comprehensive suite of materials designed to help new traders. Each provides more than ten educational pieces focusing on forex and CFDs, which includes articles, videos, and archived webinars. This makes them suitable choices for anyone eager to dive into trading basics. Furthermore, both brokers go the extra mile by hosting monthly webinars, allowing clients to participate in live learning sessions and access previously recorded webinars for further study. Whether you're starting out or looking for advanced strategies, IC Markets and ThinkMarkets have the videos you need. For beginners, both brokers offer more than ten educational videos dedicated to fundamental trading concepts, while advanced traders will find another ten videos targeting deeper insights into trading.
In addition to videos and webinars, both brokers provide an investor dictionary that explains over 50 investing terms, making it easier for new traders to grasp essential vocabulary. However, when it comes to the overall quality and effectiveness of their educational offerings, IC Markets edges out with a four-star rating, whereas ThinkMarkets holds a slightly lower rating of 3.5 stars. According to ForexBrokers.com, this difference in educational quality is evident in their rankings, with IC Markets securing the 16th spot among 63 brokers, while ThinkMarkets is placed further down at 52nd. New traders looking for a strong start might opt for IC Markets for its higher-rated educational content. Nonetheless, both brokers are competent options for anyone eager to boost their trading knowledge.
| 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 63 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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