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 IC Markets to ThinkMarkets in terms of commissions and fees, IC Markets stands out as a top choice for cost-sensitive traders. IC Markets offers a variety of account types, including commission-free and commission-based options. Traders who opt for their Raw Spread accounts on either MetaTrader or cTrader platforms enjoy notably low fees, with the latter slightly cheaper at $3.00 per side for every 100,000 units. This brings the effective spread on popular pairs like the EUR/USD to an impressively competitive 0.62 pips on cTrader and 0.72 pips on MetaTrader. IC Markets also contributes to its premier position by offering discounts to traders who exceed 100 standard lots monthly. Rated 5 out of 5 stars and ranking #5 out of 63 brokers in ForexBrokers.com's Commissions & Fees category, IC Markets consistently competes among the best in the industry.
In contrast, ThinkMarkets is less transparent regarding its average spread data, which may be a crucial consideration for traders prioritizing cost efficiency. Nevertheless, ThinkMarkets earns a solid 4-star rating for its commissions and fees. However, it ranks significantly lower than IC Markets, positioned at #48 out of 63 brokers by ForexBrokers.com. This ranking suggests that while ThinkMarkets is competitive, it doesn't quite match the cost-effectiveness and comprehensive pricing structure of IC Markets, particularly for traders looking to minimize trading expenses.
| 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 vs. ThinkMarkets: both brokers support forex trading as CFDs or spot and both offer copy trading. ThinkMarkets lists about 4,000 tradeable symbols, edging out IC Markets’ 3,583, while IC Markets provides more forex pairs (61 vs. 46). Neither broker lets you buy U.S.-listed shares outright, but each offers exchange-traded securities on international exchanges. For crypto, both let you trade derivatives rather than actual coins.
For range of investments, both earn 4.5 out of 5 stars. According to ForexBrokers.com, ThinkMarkets ranks slightly higher at 24th out of 63 brokers, while IC Markets is 26th. Choose ThinkMarkets if you want the widest overall list of instruments, or IC Markets if your priority is a larger selection of forex pairs.
| 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.
IC Markets and ThinkMarkets both cover the essentials for market research: daily market commentary, premium forex news from top-tier sources (such as Bloomberg, Reuters, and Dow Jones), a sentiment tool that shows the long/short split, and an economic calendar. The key difference is in the add-ons. IC Markets includes third-party research from Autochartist and Trading Central for trade ideas, pattern recognition, and technical levels. ThinkMarkets does not offer Autochartist or Trading Central, but it does provide tools from Acuity Trading (Signal Centre) for news-driven insights.
Neither broker integrates TipRanks. According to ForexBrokers.com, IC Markets is rated 4 stars for Research and ranks 23rd out of 63 brokers, while ThinkMarkets is rated 3.5 stars and ranks 51st. In short, IC Markets suits traders who want more third-party technical analysis, whereas ThinkMarkets may appeal if you prefer Acuity’s approach to market analytics.
| 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) | |||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| 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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